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4 Hour Strategy (MACD)

  • #11,261
  • Feb 5, 2008 12:09pm Feb 5, 2008 12:09pm
Okay I am still mad I missed this trade, I was watching it too For now on I am going to get up at 1:45am and 5:45am so I don't miss these. Now I get to sit on my hands a few more days Also I am very excited to see everyone making money! Keep it up, nothing make me more happy then to see people take money out of this market!
Keep taking CT trades, I need more money
  • #11,262
  • Feb 5, 2008 12:09pm Feb 5, 2008 12:09pm
Hello fellow trades, I got killed on the EurGBP trade yesterday, can anyone tell me what I did wrong? Was this a bad trade to take? It was a TC upward signal before the collapse downward. Thank you...
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  • #11,263
  • Feb 5, 2008 12:15pm Feb 5, 2008 12:15pm
Quoting yofatmamma
Hello fellow trades, I got killed on the EurGBP trade yesterday, can anyone tell me what I did wrong? Was this a bad trade to take? It was a TC upward signal before the collapse downward. Thank you...

Chart looks different then mine, It says go long and really do not see anything wrong with it. You will have losers. Here's my chart.
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Keep taking CT trades, I need more money
  • #11,264
  • Feb 5, 2008 12:20pm Feb 5, 2008 12:20pm
Quoting EricthePip
Anyone notice these 4 tails on the 1HR usd/jpy. Sorry can't do insets or circles like other "fancier" members, but 4HR has found support on the 89, coupled with 1HR tails, looks like a possible TC developing.... Back up. US equity market could be the culprit (Holding down this pair)???
When I see price making sudden bullish movement, then retrace all the way back to it's original position I normally bail out of the pair. The question is "why"?
Basically, I don't like the price pattern. I don't want to force myself like, "Oh, the current market condition is making a bullish trend." Few minutes later price drops to the original position and then continues, "Whoops, no! this is bearish!"
No, that is not the way I interprete a trend. If this kind of behaviour occur in the market, I bail out of the pair. Patience, and then look for another chance.

Good luck
  • #11,265
  • Feb 5, 2008 12:26pm Feb 5, 2008 12:26pm
Well put, but at least give the guy a easier way than reading the post, come on now that's a lot of work, how about:

http://en.wikipedia.org/wiki/Ouija

Then simply pose the question to the board....

Actually in all seriousness, I studied the lessons (13 pdfs'), then read the post, then studied the 13 pdf's again. Then took about 20 boneheaded counter trend trades... Must study learn... (or use the Ouija board)....




Quoting Ryanmcd
Take what you think is best, then I will show you what you did wrong. Also re-read page 1 please before people waste time talking about what has been posted about 2-300 times here. If you are lazy don't try to trade you will just waste years of your life.


p.s. zoom out on that chart, you can not even see what is going on.
  • #11,266
  • Edited 12:42pm Feb 5, 2008 12:30pm | Edited 12:42pm
Quoting EricthePip
Anyone notice these 4 tails on the 1HR usd/jpy. Sorry can't do insets or circles like other "fancier" members, but 4HR has found support on the 89, coupled with 1HR tails, looks like a possible TC developing.... Back up. US equity market could be the culprit (Holding down this pair)???
hi
here is my charts H4,H1 and m15, i think price is going to make a flag for the recent down move and if the TL in m15 chart breaks down it can be a start of a 80 - 90 pips down movment again.so.. if u r short now i think u can put ur SL above the H1 blue up TL.i'm ready for a break down
good luck
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  • #11,267
  • Feb 5, 2008 12:32pm Feb 5, 2008 12:32pm
Quoting EricthePip
Anyone notice these 4 tails on the 1HR usd/jpy. Sorry can't do insets or circles like other "fancier" members, but 4HR has found support on the 89, coupled with 1HR tails, looks like a possible TC developing.... Back up. US equity market could be the culprit (Holding down this pair)???

Eric, you know better then to mess with this mess Just wait man, I missed everything as well LOL, lets not jump into some crap though. Even though I am GREAT as working losing trades I don't want to work one today
Keep taking CT trades, I need more money
  • #11,268
  • Feb 5, 2008 12:37pm Feb 5, 2008 12:37pm
Quoting Ryanmcd
NEVER go above, if you want I can give you the number to a friend who did this and lost 300k in one day because he was 95% right. Just keep building, you WILL have a losing streak someday and if you put up say 5-10% and start losing you will blow out a account, ask me how I know this . If you don't have the cash to trade as much as you want there is a reason, it's because your not winning. Start with say 2-5k and build it up, If you can't make money on 2-5k it really does not matter how much you trade or how big your account is. I have traded 100 contracts in the past on the @ES and it felt the same as I was trading 1, that really is the key. If you are trading to live and you have to trade more, well get a better job sell everything you own and save, I did it and it has paid off.
Hi Ryan,

Don't worry about me.If anything I'm too risk averse. I feel as if 1% per trade is lettin it all hang out. Just wondered if anyone was using their trade stats in order to size their positions.
How about you? I'm guessin your a 2% percent man, but I know you like to run your positions. Does this affect your add on trades?
  • #11,269
  • Feb 5, 2008 12:40pm Feb 5, 2008 12:40pm
Quoting Ted1983
Hi Ryan,

Don't worry about me.If anything I'm too risk averse. I feel as if 1% per trade is lettin it all hang out. Just wondered if anyone was using their trade stats in order to size their positions.
How about you? I'm guessin your a 2% percent man, but I know you like to run your positions. Does this affect your add on trades?

I trade way less then 1% but I have a lot of cash in my account. I do add into trades if I can. I used to do like 3-5% but now I don't have to. Also I don't trade the max size I can no need too really at this point. No need to swing 50-100 contracts anymore.
Keep taking CT trades, I need more money
  • #11,270
  • Feb 5, 2008 12:43pm Feb 5, 2008 12:43pm
Quoting yofatmamma
Hello fellow trades, I got killed on the EurGBP trade yesterday, can anyone tell me what I did wrong? Was this a bad trade to take? It was a TC upward signal before the collapse downward. Thank you...
The bullish candle was eliminated by that huge bearish candle yesterday so the emotion was very mixed. The upmove as indicated by the thick black arrow did not happen due to that bearish candle. So the sentiment according to me was bearish I would say.
Phillip
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  • #11,271
  • Edited 1:11pm Feb 5, 2008 12:46pm | Edited 1:11pm
Quoting Ryanmcd
Eric, you know better then to mess with this mess Just wait man, I missed everything as well LOL, lets not jump into some crap though. Even though I am GREAT as working losing trades I don't want to work one today
I hear ya and I'm not jumping in. Just saying it's a good potential for a TC given the support of the 89 and the 1HR tails...., if and when it comes and if it's at a good R:R.... Of course to your point a 100 pip plus almost engulfing bear bar is worth a second (third and fourth) thought.... Standing down, but if it gains 100,000,000 pips, I'm posting it w/o a chart

PS Besides looks the support is failing....

PPS Just an observation on the 1HR tails.... If it's like this tomorrow morning and there are 16 tails on the 1hr, and the 89 is still holding it will be worth another look.....
  • #11,272
  • Feb 5, 2008 12:56pm Feb 5, 2008 12:56pm
Quoting EricthePip
I hear ya and I'm not jumping in. Just saying it's a good potential for a TC given the support of the 89 and the 1HR tails...., if and when it comes and if it's at a good R:R.... Of course to your point a 100 pip plus almost engulfing bear bar is worth a second (third and fourth) thought.... Standing down, but it it gains 100,000,000 pips, I'm posting it w/o a chart

PS Besides looks the support is failing....

Just post in like 3-4 days OUT +500 Told ya it was topping!
Keep taking CT trades, I need more money
  • #11,273
  • Feb 5, 2008 12:57pm Feb 5, 2008 12:57pm
I think after this 4hrs candle there is a possible short entry for usd /chf.sl=1.1013(high 0f current 4hrs candle) tp=1.0936(89ma) entry price=opening of the next candle.can some senior trader comment on this possible trade.thank you
  • #11,274
  • Feb 5, 2008 1:05pm Feb 5, 2008 1:05pm
Okay, I keep hearing that fed is going to jump in and cut and this sell off is going to make that come true. Keep that in the back of your head. If you did not get in the big move last night sit tight we will get some TC's here in the next day or 2 if this is a true trend change. Time will tell.


Charts.
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Keep taking CT trades, I need more money
  • #11,275
  • Feb 5, 2008 1:14pm Feb 5, 2008 1:14pm
Quoting alanaz50
I think after this 4hrs candle there is a possible short entry for usd /chf.sl=1.1013(high 0f current 4hrs candle) tp=1.0936(89ma) entry price=opening of the next candle.can some senior trader comment on this possible trade.thank you
i'm not a senior trader but let me say what i see on usdchf.its touched my upper resistance as u see in chart and came down.also macd in above 45 and overbought. so ... price can pulls back to 89 and a sell looks not bad ,but if u wanna sell u should take a quick 20,25 pips (as a correction) and dont expect a huge movment. i can say its better for u (if u r new in this system) to take just the TC trades and skape the round buttoms or round tops because they are more risky.
(just my oponion and could be wrong)
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  • #11,276
  • Feb 5, 2008 1:27pm Feb 5, 2008 1:27pm
Quoting Ryanmcd
Just post in like 3-4 days OUT +500 Told ya it was topping!
Will do, but actually I was looking at going long.... TC (4H trend is still up) and the support may hold on the 89.... Going to wait several bars to see what develops, then I'll get my 100,000,000 pips... Bounced above 89, but couldn't take out trendline... back at 89... Overall trading sideways for the last 3 weeks.... (in about a 200 pip or so range)
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  • #11,277
  • Feb 5, 2008 1:35pm Feb 5, 2008 1:35pm
bshadroo,thank you very much
  • #11,278
  • Feb 5, 2008 1:39pm Feb 5, 2008 1:39pm
Quoting Ryanmcd
Okay I am still mad I missed this trade, I was watching it too For now on I am going to get up at 1:45am and 5:45am so I don't miss these. Now I get to sit on my hands a few more days Also I am very excited to see everyone making money! Keep it up, nothing make me more happy then to see people take money out of this market!
Hello Dear Ryanmcd, well I do understand your frustration. I have miss all trades also. I live in Est time and wake up last night at 01:55am to see setup on Euro for the 02:00 am candle (mig chart) and didn't saw any clear signal to go short or long.

Well! I am still not strong as Phillip and did not have recognized the round top on price on the 4H chart of the Euro and eventhough MACD gaves a signal, I have not taken it.

Good point, contrary to the past, I have not jump on a trade later just because I have miss a previous one. So, improvment on this side

Great for all who great pips today.

Will continue practice patience to get the next high porbability setup

Sincerely

Shreem
  • #11,279
  • Edited 1:51pm Feb 5, 2008 1:44pm | Edited 1:51pm
Yofat,
My chart shows a shooting star, which would clue you in to exit. However, you're chart wasn't as kind. Sometimes, you have to go to a 1H chart to recognize the trade is most likely to get worse. Notice the downtrend on the 1H chart since it hit that previous resistance point. That indicated to me that it was either in a tight trading zone or it was headed the other way. The strong down move the day before is another red flag.
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  • #11,280
  • Feb 5, 2008 1:50pm Feb 5, 2008 1:50pm
Quoting EricthePip
Will do, but actually I was looking at going long.... TC (4H trend is still up) and the support may hold on the 89.... Going to wait several bars to see what develops, then I'll get my 100,000,000 pips... Bounced above 89, but couldn't take out trendline... back at 89... Overall trading sideways for the last 3 weeks.... (in about a 200 pip or so range)

It could work, That big bar is just so ugly
Keep taking CT trades, I need more money
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