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4 Hour Strategy (MACD)

  • #11,621
  • Feb 13, 2008 3:37am Feb 13, 2008 3:37am
Quoting Borism
SL hit........http://www.forexfactory.com/images/icons/icon9.gif


back to the drawing desk http://www.forexfactory.com/images/icons/icon12.gif
Borism, I was following it, but I didn't take it. In my opinion, when yesterday's 12h00 candle (gmt time) has closed above the 365, it was enough to run... Since Jan 25, spot is sandwiched between 200 and 365. Now 89 has joined the game. I don't see nothing interesting on this pair until to get a breakout... above 89/200 or below 365... just my thoughts.

A.
  • #11,622
  • Feb 13, 2008 3:45am Feb 13, 2008 3:45am
Quoting Borism
SL hit........http://www.forexfactory.com/images/icons/icon9.gif


back to the drawing desk http://www.forexfactory.com/images/icons/icon12.gif

You are well on your way to blowing out your first account. You can either wait for a signal or keep enjoying losses like this one.
Keep taking CT trades, I need more money
  • #11,623
  • Feb 13, 2008 3:51am Feb 13, 2008 3:51am
Quoting Ryanmcd
You are well on your way to blowing out your first account. You can either wait for a signal or keep enjoying losses like this one.
ryan ,u always sound like this
  • #11,624
  • Feb 13, 2008 4:04am Feb 13, 2008 4:04am
Morning everyone - u'll all be glad to know i've finally converted to metatrader! Ha loving it!

Ok back to business, is anyone watching the GBP/USD (GU) for a TC (trend continuation) we seem to be getting confirmation on the 1H

See attached. Candle formation is also in our favour.

Please post your thoughts.

Cheers
Attached Image (click to enlarge)
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  • #11,625
  • Feb 13, 2008 4:17am Feb 13, 2008 4:17am
Quoting bistrosteve
"IF A MAN WILL BEGIN IN CERTAINTIES, HE SHALL END IN DOUBTS; BUT IF HE WILL BE CONTENT TO BEGIN WITH DOUBTS, HE SHALL END IN CERTAINTIES"

Francis Bacon
Hi Steve,
Welcome to Forex! J

It doesn’t matter what currencies you are trading, what type of graph you use, what time frames you look at, how many pips you average a month, etc., IF IT WORKS FOR YOU.

You have to start out and give it a shot. Most likely you will have a lot of questions and that is very common in Forex. Post your questions as they arise and we will try to help you to find your own style in trading.

Keep in mind that this is a 4h MACD system thread and the trades discussed here should be related to this strategy only. It doesn’t mean that if you choose another strategy, you will go straight bankrupt, but you will not find the actual trade assistance in this thread. However, there are some universal aspects of trading Forex like candle patterns or psychology of trading for example, that you might get the help on.

Good luck on your journey!
  • #11,626
  • Feb 13, 2008 4:41am Feb 13, 2008 4:41am
Quoting bistrosteve
Hi, I'm Steve and I'm very much a 'newbie'.

No 'live' account yet. That i intend to start in July.
By which time i hope to be gaining consistently on my 'demo' account.
May i just add, you all do charming work for this site, considering it's on your own time. I have read a number of threads and like the lively debate that goes on here (though i am not worthy of participation just yet).
I have been self-educating, with the assistence of a friend (involved in live trade already) and i'm nearly ready to give it a whirl.
I do work and intend to do this part-time for the next few years (if you are only interested in assisting those of a full-time persuasion, stop reading now).

When I go live, I propose to trade for eighteen months, broken into three blocks, each of a twenty week period. The first block will be traded at a very low volume (not one for jumping in the deep end). The second will increase by 500% and the third will be twice the second.
During the twenty week periods I will hope to average the weekly gain of +100pips with four to twelve trades/week.

Currencies: GBPUSD GBPJPY USDJPY USDCAD
Charts: Candle
Time Frames:1 hour and 1 day (5 min for fun)
Trends: Fib 8 and 21

I have been dabbling for near a year now and feel it is time to make the big leap from 'demo' to 'live' (time will tell if i was right).
I have read a few of these threads and am amused (rookie as i blatantly am), to continuously find newbies with the next great idea ($1 to $1000000 in a day). I have moderate expectations. I enjoy being on the platforms and would like to boost my income (as I'm in a job that i enjoy, but doesn't pay as well as i'd wish,).

Would very much appreciate any wise words from the more senior members, or empathy and advice from fellow beginners.
Thanking you in advance for your time, Steve
Hi Steve

Welcome to this great system - I hope you will follow the rules of the system as explained by Philip.

I have blown two mini accounts before I met Philip. Now I am on my third mini account and I am surviving for more than a year up until now. I only trade in micro-lots so that I can get the necessary confidence (and learning the system and rules in the meantime).

Just one comment about your 5min system you will mentioned " just for fun". Believe you me - it is not fun. It is really hard work but once you understand the system, if it comes fun. My opinion is that there is no difference (putting work into it) between the 4hours system and 5 minute system.

Good luck.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #11,627
  • Edited 5:25am Feb 13, 2008 4:54am | Edited 5:25am
Quoting Borism
SL hit........http://www.forexfactory.com/images/icons/icon9.gif

back to the drawing desk http://www.forexfactory.com/images/icons/icon12.gif
don't know about you, but my platform is still working on a short signal. if the signal is given it might actually be a pretty nice trade. Ryan is right, it is very important to wait for the signal and confirmation.

edit: the last candle closed as a doji, but MACD didn't signal yet. 3 and a half hours till the next bar closes. just be careful!
Attached Image (click to enlarge)
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  • #11,628
  • Feb 13, 2008 5:08am Feb 13, 2008 5:08am
a tc signal near the 200 and top of the rectangle.i wanted to enter base on h1 near the 107.30 but h4 closed very hi and now...
becarefull
Attached Image (click to enlarge)
Click to Enlarge Name: uj.gif Size: 37 KB
  • #11,629
  • Feb 13, 2008 5:21am Feb 13, 2008 5:21am
Quoting bshadroo
ryan ,u always sound like this
We need people like him to 'slap' people who aren't following what the system says..
  • #11,630
  • Feb 13, 2008 5:48am Feb 13, 2008 5:48am
Quoting bistrosteve
Hi, I'm Steve and I'm very much a 'newbie'.

No 'live' account yet. That i intend to start in July.
By which time i hope to be gaining consistently on my 'demo' account.
May i just add, you all do charming work for this site, considering it's on your own time. I have read a number of threads and like the lively debate that goes on here (though i am not worthy of participation just yet).
I have been self-educating, with the assistence of a friend (involved in live trade already) and i'm nearly ready to give it a whirl.
I do work and intend to do this part-time for the next few years (if you are only interested in assisting those of a full-time persuasion, stop reading now).

When I go live, I propose to trade for eighteen months, broken into three blocks, each of a twenty week period. The first block will be traded at a very low volume (not one for jumping in the deep end). The second will increase by 500% and the third will be twice the second.
During the twenty week periods I will hope to average the weekly gain of +100pips with four to twelve trades/week.

Currencies: GBPUSD GBPJPY USDJPY USDCAD
Charts: Candle
Time Frames:1 hour and 1 day (5 min for fun)
Trends: Fib 8 and 21

I have been dabbling for near a year now and feel it is time to make the big leap from 'demo' to 'live' (time will tell if i was right).
I have read a few of these threads and am amused (rookie as i blatantly am), to continuously find newbies with the next great idea ($1 to $1000000 in a day). I have moderate expectations. I enjoy being on the platforms and would like to boost my income (as I'm in a job that i enjoy, but doesn't pay as well as i'd wish,).

Would very much appreciate any wise words from the more senior members, or empathy and advice from fellow beginners.
Thanking you in advance for your time, Steve
hi and welcome
GBPUSD GBPJPY(a 500pip movment in daay is very ussuall for that )very volatile ,USDCAD commodity currency(very depends on oil) , i think thease are difficult to trade at the beginning.uj is good and better than all iis eurusd
for the start.
just my oponion and could be wrong
  • #11,631
  • Feb 13, 2008 6:16am Feb 13, 2008 6:16am
Quoting Ryanmcd
Looks like we may have longs on Eur, GBP, and JPY coming up TC setups.
Good call on the Market Emotion. The candles were a little too big for me to enter and I don't do the 1 hour thing yet.
  • #11,632
  • Feb 13, 2008 7:02am Feb 13, 2008 7:02am
looks like the 1st test of the 21MA on a few with huge bars. Going to wait for a pullback here to get long.
Keep taking CT trades, I need more money
  • #11,633
  • Feb 13, 2008 7:03am Feb 13, 2008 7:03am
Quoting hijackxx
We need people like him to 'slap' people who aren't following what the system says..

The best part if he would of waited he would of made money LOL oh well.
Keep taking CT trades, I need more money
  • #11,634
  • Feb 13, 2008 7:47am Feb 13, 2008 7:47am
Quoting Ryanmcd
The best part if he would of waited he would of made money LOL oh well.
Sorry, but what do you mean with "LOL"?
  • #11,635
  • Feb 13, 2008 8:09am Feb 13, 2008 8:09am
Yes, and he's consistently correct.

Even if a bad trade scores a lot of pips, consistently taking trades against the rules will blow out an account. If you have your own set of rules, fine....



Quoting bshadroo
ryan ,u always sound like this
  • #11,636
  • Feb 13, 2008 8:15am Feb 13, 2008 8:15am
Quoting Borism
Looks like a very strong resistance on the 21, and 2 read bars on MACD, which could indicate a TC. Since I am not sure, I will use a tight stop and I will see from there.

Short 0.9997
SL 1.0015
1st TP 35 pips
Stay away from trading this pair until the market shows its hand. It's congested way too much.
  • #11,637
  • Feb 13, 2008 8:30am Feb 13, 2008 8:30am
The retail sales numbers finally pushed the JPYUSD past the triangle that formed in mid Jan. Will wait for a retest, and MACD signal before entering this herky-jerky pair.
Attached Image (click to enlarge)
Click to Enlarge Name: retail.gif Size: 29 KB
  • #11,638
  • Feb 13, 2008 8:33am Feb 13, 2008 8:33am
For those watching U/J, you will see exactly the scenario Philip talked about in yesterdays daily wrap up. The 200 has been pierced. I have been anticipating a bull move, and the break of the 200 was to be my trigger, but a break is not a break until one candle closes and the next opens above the 200 (and the rhythm is showing trend continuation).

Please be patient here. Do not jump in afraid that you are missing out. The market will go wherever it wants, not necessarily where you want.

There is strength in a 200 break, but wait for the confirmation. If the bulls are ready for a ride, they will gather their strength via a pullback before going on the long road. Look at the rhythm, if it's right then join the ride. If the rhythm of the pullback feels wrong, and the breakout is false, then you've lost nothing.

Good Trading,
Rebecca,x.
Attached Image
May all your pips grow into great big fruitful trees
  • #11,639
  • Feb 13, 2008 8:38am Feb 13, 2008 8:38am
Thanks guys for all the positive criticisms

will keep that in mind

ryan,
I already destroyed one account 10k, so I am very careful with this one.
And I know that the market itself isn't the problem, the biggest problem is my ego. All traders know that when you control yourself, you control the income.

But it is very hard.
I really should find a mentor......http://www.forexfactory.com/images/icons/icon9.gif

Well a least the UJ went as I planed
Closed 50%, and now moved the stop loss higher. trail 55 pips
Attached Image (click to enlarge)
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  • #11,640
  • Feb 13, 2008 8:50am Feb 13, 2008 8:50am
Quoting Borism
Thanks guys for all the positive criticisms

will keep that in mind

ryan,
I already destroyed one account 10k, so I am very careful with this one.
And I know that the market itself isn't the problem, the biggest problem is my ego. All traders know that when you control yourself, you control the income.

But it is very hard.
I really should find a mentor......http://www.forexfactory.com/images/icons/icon9.gif

Well a least the UJ went as I planed
Closed 50%, and now moved the stop loss higher. trail 55 pips
u should be very happy if u already long in this pair,its breaks the triangle and i think all of people here wants to enter in a suitable place .
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