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4 Hour Strategy (MACD)

  • #11,441
  • Feb 7, 2008 1:35pm Feb 7, 2008 1:35pm
Quoting Borism
Hi
I hope that this won't be too funny for you, but I have maybe stupid question
My broker is currently Oanda, but due to some missing futures I decided to change it.
But here is the problem
I choose Al trader on meta platform.
But I just can't calculate the leverage and minilots etc.
With Oanda with 1000$ I bought 2000 units and that was 1:2 leverage.
But Al trader offers minilots... What does that mean?
With a 1000 $ account I buy 0.1 lot. Does that mean 1:10 leverage?

Sorry, but I prefer to ask then to make a -$ mistake

http://www.forexfactory.com/images/icons/icon9.gif



P.S. Sorry for off topic

0.1 lot is I believe 1 minilot or worth $1 per pip. Nothing to do with account leverage your broker offers - the broker leverage has to do with margin or amount of cash needed to maintain a position.

If you have $1K account and risking 2% per trade that equals $20 or 20 minilot pips. You won't be able to take many trades with 20 pip risk.

I would suggest funding your account with more cash and trade 2 mini lots at a time to get a real feel for money trading while maintaining the 2% captial risk. Also make sure you understand this money is for your education and may more than likely lose it. If you must trade microlots with 1K then 1 microlot pip is worth $0.10 so 2% of 1K $20 is your risk - if your stoploss for trade is 50 pips : 50 X 0.1 = 5 --> $20/5=4 or 4 microlots - if you follow Phillips first profit target you would exit 2 microlots at first profit target.

Personally I don't think you will get the full emotional training trading microlots.
  • #11,442
  • Feb 7, 2008 4:59pm Feb 7, 2008 4:59pm
Quoting maxster
With all posts about sleep, getting up middle of night etc I have coded this alarm a while back and thought some can benefit from it.

It basically allows you to:

1. Select pairs you want alert MACD signal change
2. Select Direction
3. Select 4H or 1H
4. Alerts you 15 minutes before bar is close if MACD has changed colour
5. Email alert

Just modify the ini to point to your metatrader directory. Use the modified MACD indicator or add in the code from the enclosed.

Check Columns:

1 - enable/disable
2 - long (macd goes green from red)
3 - short (macd goes red from green)
4 - checked for 4H / unchecked for 1H
5 - For TC check if MACD not yet change colour
ie if up trend and macd has not given a red bar yet check it so program knows to look for a red bar then sound alarm when green bar forms.

If people use it I will make it more user friendly later.

Hope this help someone sleep better.
Maxster:

I haven't downloaded the alert yet but my guess is there will be a lot of interest in it. Once you get the code cleaned up I'd like to add it to the list of indicators on the website, with your permission of course. I'm in the process of changing brokers, overhauling the website, and preparing for a meeting that I will be at all next week...not fun. Anyway, I'll drop you a PM in the next few weeks about this.

No trading in two weeks or the next week either......Yup, there's something missing in my life....a hottie!
  • #11,443
  • Feb 7, 2008 5:17pm Feb 7, 2008 5:17pm
Quoting Palmer
Maxster:

I haven't downloaded the alert yet but my guess is there will be a lot of interest in it. Once you get the code cleaned up I'd like to add it to the list of indicators on the website, with your permission of course. I'm in the process of changing brokers, overhauling the website, and preparing for a meeting that I will be at all next week...not fun. Anyway, I'll drop you a PM in the next few weeks about this.

No trading in two weeks or the next week either......Yup, there's something missing in my life....a hottie!
Will let everyone use it and then gather a list of additional features and I will code it. You can of course post it on the site. But it is very useful the way it is.

If anyone wants the email function you will need to install a local mail program on your computer like Mail Direct Pro - I used to have the alert email me on my cell.

Unfortunately work & hotties don't mix.
  • #11,444
  • Feb 7, 2008 6:11pm Feb 7, 2008 6:11pm
Quoting maxster
With all posts about sleep, getting up middle of night etc I have coded this alarm a while back and thought some can benefit from it.

It basically allows you to:

1. Select pairs you want alert MACD signal change
2. Select Direction
3. Select 4H or 1H
4. Alerts you 15 minutes before bar is close if MACD has changed colour
5. Email alert

Just modify the ini to point to your metatrader directory. Use the modified MACD indicator or add in the code from the enclosed.

Check Columns:

1 - enable/disable
2 - long (macd goes green from red)
3 - short (macd goes red from green)
4 - checked for 4H / unchecked for 1H
5 - For TC check if MACD not yet change colour
ie if up trend and macd has not given a red bar yet check it so program knows to look for a red bar then sound alarm when green bar forms.

If people use it I will make it more user friendly later.

Hope this help someone sleep better.
Maxter thanks for the indicator, but for dummies like me what is the ini? and how do i adjust the columns. I double clicked on indicator but cant see where i make these adjustments.
  • #11,445
  • Feb 7, 2008 6:31pm Feb 7, 2008 6:31pm
GU forms round bottom on last candle (02/08/2008 00:00) and tends pullback to EMA8/21, is it perfect time to make long entry ? or we have to wait till more candle closed ?
  • #11,446
  • Feb 7, 2008 6:55pm Feb 7, 2008 6:55pm
Unless you're a pimp.... By the way, where do you put the ini file and the .exe??

Quoting maxster
Will let everyone use it and then gather a list of additional features and I will code it. You can of course post it on the site. But it is very useful the way it is.

If anyone wants the email function you will need to install a local mail program on your computer like Mail Direct Pro - I used to have the alert email me on my cell.

Unfortunately work & hotties don't mix.
  • #11,447
  • Feb 7, 2008 7:40pm Feb 7, 2008 7:40pm
you can go long per the rules assuming the R:R with your stop is adequate. Anticipation is that the up move will not likely exceed the 8ema... Also we aware the the latest violent reversals down have occurred at the 12:00 candles. If you go counter trend, protect the trade....

Quoting ariefdff
GU forms round bottom on last candle (02/08/2008 00:00) and tends pullback to EMA8/21, is it perfect time to make long entry ? or we have to wait till more candle closed ?
  • #11,448
  • Feb 7, 2008 8:40pm Feb 7, 2008 8:40pm
Quoting Hensby
Maxter thanks for the indicator, but for dummies like me what is the ini? and how do i adjust the columns. I double clicked on indicator but cant see where i make these adjustments.
1. Open the zip file

2. unzip the contents into any folder - make a folder on your c: drive call ALERT

3. now use windows explorer and browse to c:\alert

4. right click on score.ini and select edit or open with notepad

5. change the path to your metatrader path - find you metatrader path by looking in your c:\program files folder - it could be called MIG metatrader or whatever instead of metatrader

6. copy the modified macd indicator to your metatrader\experts\indicator folder

7. on your charts replace the macd indicator with macd_colored_v102_output_early

8. open the alert program by clicking on macdalert.exe in c:\alert folder where you unzip

Ericthepip,

You can put it anywhere - doesn't matter just make a folder as per above and unzip/extract to it.
  • #11,449
  • Feb 7, 2008 9:00pm Feb 7, 2008 9:00pm
Quoting maxster
With all posts about sleep, getting up middle of night etc I have coded this alarm a while back and thought some can benefit from it.

It basically allows you to:

1. Select pairs you want alert MACD signal change
2. Select Direction
3. Select 4H or 1H
4. Alerts you 15 minutes before bar is close if MACD has changed colour
5. Email alert

Just modify the ini to point to your metatrader directory. Use the modified MACD indicator or add in the code from the enclosed.

Check Columns:

1 - enable/disable
2 - long (macd goes green from red)
3 - short (macd goes red from green)
4 - checked for 4H / unchecked for 1H
5 - For TC check if MACD not yet change colour
ie if up trend and macd has not given a red bar yet check it so program knows to look for a red bar then sound alarm when green bar forms.

If people use it I will make it more user friendly later.

Hope this help someone sleep better.
Thanks for all your advices regarding to cope with trading and sleeping in EST time zone, I'am really struggle for this problem as I have 3-11pm EST daily job. After back home, I checked chart at 11:30. If nothing,then went to sleep, and woke up by 2am, again nothing, then 6am. Think about very day to wake up in the middle of night, but TC signals are not come everyday, very very tired, then fall in deep sleep, then miss the trade. Now I can use MACD alarm to help me get more more sleep!!!!

Jenny
  • #11,450
  • Feb 7, 2008 9:53pm Feb 7, 2008 9:53pm
thanks maxster working ok right now
  • #11,451
  • Feb 7, 2008 10:36pm Feb 7, 2008 10:36pm
Quoting jren07
Thanks for all your advices regarding to cope with trading and sleeping in EST time zone, I'am really struggle for this problem as I have 3-11pm EST daily job. After back home, I checked chart at 11:30. If nothing,then went to sleep, and woke up by 2am, again nothing, then 6am. Think about very day to wake up in the middle of night, but TC signals are not come everyday, very very tired, then fall in deep sleep, then miss the trade. Now I can use MACD alarm to help me get more more sleep!!!!

Jenny

Jenny,

Your welcome - I think it was your post that made me decided to post the alert - and let me know if you need help.

You guys and gals that are doing this and also have a full time time job you have my full respect. I wish you all make consistently monthly profit as soon as possible. I know what the journey is like and after 1.5 years of struggle things finally turned around for me a couple of months ago - and I don't even have a job.
  • #11,452
  • Feb 7, 2008 10:37pm Feb 7, 2008 10:37pm
People, who wake up at night - you are my heroes ! I'm sure your efforts will be well paid off.

Looking at U/J finally I see some motion. It closed above the consolidation, looking for a TC. 1 hour shows support on the 21 MA.

RB's on E/U and G/U I don't take, waiting for TC's there too, but maybe next week already.
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  • #11,453
  • Feb 7, 2008 11:45pm Feb 7, 2008 11:45pm
Quoting ira
People, who wake up at night - you are my heroes ! I'm sure your efforts will be well paid off.

Looking at U/J finally I see some motion. It closed above the consolidation, looking for a TC. 1 hour shows support on the 21 MA.

RB's on E/U and G/U I don't take, waiting for TC's there too, but maybe next week already.
becarefull of very strong 107.90 level
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  • #11,454
  • Feb 8, 2008 12:01am Feb 8, 2008 12:01am
Quoting bshadroo
becarefull of very strong 107.90 level
Wow, that is exceedingly strong.
  • #11,455
  • Edited 1:53am Feb 8, 2008 12:14am | Edited 1:53am
Quoting bshadroo
becarefull of very strong 107.90 level
Thanks bshadroo, will keep that in mind.
U/J long 107.54 entry from 1 hour. I personally don't like entries from 1 hour, but there is a beatiful RB from 21 MA. 1 lot SL 107.29, TP 107.73, second lot SL 107.18 trailing stop +30. B/e after first TP is hit.
  • #11,456
  • Feb 8, 2008 1:24am Feb 8, 2008 1:24am
Quoting ira
Thanks bshadroo, will keep that in mind.
U/J short 107.54 entry from 1 hour. I personally don't like entries from 1 hour, but there is a beatiful RB from 21 MA. 1 lot SL 107.29, TP 107.73, second lot SL 107.18 trailing stop +30. B/e after first TP is hit.
So was that short or long you took ?
4X is the biggest casino in the world...Open 24h Monday to Friday.
  • #11,457
  • Feb 8, 2008 1:52am Feb 8, 2008 1:52am
Quoting pipsy_2
So was that short or long you took ?
Oh, I'm very sorry, long of course. I edited my post.
  • #11,458
  • Feb 8, 2008 2:29am Feb 8, 2008 2:29am
Quoting ira
Oh, I'm very sorry, long of course. I edited my post.
I think its not so good move to take long on the top of long consolidation. We will see.
4X is the biggest casino in the world...Open 24h Monday to Friday.
  • #11,459
  • Edited 6:40am Feb 8, 2008 3:26am | Edited 6:40am
Hi all,

I've shorted aud/usd as a TC.
macd BOZ, price has found multiple resistance at 21ema,
even passed through it a little but after close of 11:00 gmt+1 candle the
price came below 21 and 8 and signs show a short. at least to me.

aud/usd short 0,8940
sl 0,8975 (2x -35)
tp1 0,8910 (+30)
tp2 0,8890 (+50)
r:r 70:80

edit: closed trade 2x +15 pips market is slowing down, weekend is near


I also went TC short on eur/usd anticipating the continuation of downmove.
there is no macd signal that confirms it, but price has gone up until almost
8ema and now it seems on its way down again. if you switch to linegraph
you will see a round top on the chart itself.

eur/usd short 1.4469
sl 1,4508 (2x -39)
tp1 1.4425 (+44)
tp2 1.4405 (+64)
r:r 78:108

edit: didn't take more than 2 hours for the eur/usd trade to get stopped out : - 78 pips
I must have slept during the lesson about long tails and selling pressure

I apprechiate comments and corrections

Regards
  • #11,460
  • Edited 7:54am Feb 8, 2008 4:08am | Edited 7:54am
hi all,

I was looking at the E/U and behold all these tails. Should we anticipate a pullback to the 8 or 21. I remember Phillip refers to those tails as buying pressure(thanks mike). Am still on the sideline. Please any analysis will be appreciated.
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