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4 Hour Strategy (MACD)

  • #12,281
  • Feb 27, 2008 8:03am Feb 27, 2008 8:03am
Quoting autaret
Hi guys, just a short question ... is there a chat room where we can trade together the 4H strategy?? thank you in advance
There was skype group, but I'm not sure if it's still there. Maybe someone will tell.
  • #12,282
  • Feb 27, 2008 8:05am Feb 27, 2008 8:05am
WELL DONE, SO HAPPY TO SEE YOUR AWESOME TRADE !!! HOPE TO HAVE YOUR KIND OF DICIPLINE ONE DAY.

Hmm just wondering if this was you in the lsat few days. hehehe.

!!!!!
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #12,283
  • Feb 27, 2008 8:06am Feb 27, 2008 8:06am
HI Ira !!! CONGRATS ON ACHIEVING YOUR MONTHLY GOAL !!! SO PROUD OF YOU !!!!!
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #12,284
  • Feb 27, 2008 8:15am Feb 27, 2008 8:15am
Quoting Palmer
I'm thinking of Vegas for the seminar although Bermuda might be easier for Phillip

Still in....+400...crazy.

Thinking out loud for this morning:

The durable goods orders comes out in about 20 minutes and Bernancke and home sales come out at 9 eastern. If the durable # is strong = dollar positve. There's more 'talk' that Bernie may lower interest rates today but it's a rumor, he is speaking this morning though. "We have to fix the credit markets and housing markets." Lowering interest rates is one way to do this but I don't think this brings the price of gold, corn (anyone seen a corn chart lately?) or oil down. Either way, if we get a strong durable goods order number and the EU falls back, it might shoot right back up if Bernie drops the rate .25 basis. Soooo, keeo an eye on things if you enter a trade on a $ pair this morning...

Has anyone heard from Donna? I pm'd her last week and didn't hear back.

So...Vegas or Bermuda?
http://www.cnbc.com/id/23367908

New orders for long-lasting U.S.-made manufactured goods fell by 5.3 percent in January,
the biggest drop in five months and more than analysts expected, and a key gauge of business spending also declined, a Commerce Department report showed on Wednesday.

This hasen't afected the EU yet. Do you think may be it really hit the top. We have the RT, top of trendline etc What do you think?
The more obstacles I overcome the better man I become.
  • #12,285
  • Feb 27, 2008 8:16am Feb 27, 2008 8:16am
Quoting bshadroo
thats just kidding man
palmer: please let us now how u move your stoploss,thx
Right now it's at 4875, just below the 21 plus a few. The logic behind this is to let the method rules take me out. If we get a TC (and price doesn't make it down through the 21) and a return to the upside I'd like to re-enter and still hold this. If we get a close below the 21, that changes the picture of things.
Attached Image
  • #12,286
  • Feb 27, 2008 8:24am Feb 27, 2008 8:24am
Quoting maxster
I am with Ira - don't want to risk any pips from yesterday on CT and this might be my first month ever with no loss 2 more days to go!

My GBP chart is starting to show support already so do as Phillip does get to BE after 20 pips.

I will wait for TC.

Also EUR may be resuming its weekly up trend as yesterday it finally broke the daily corrective cycle.
No loss for the month - really great job! I've been studying your post and learned a lot from them, thanks for sharing. I have a question if you don't mind . You said you watch closely the zone 38.2 and 61.8, 38.2 - is 8MA and 61.8 - is 21, close below 61.8 means no longs, if you are looking for long, right? But what if price bounces between 0 and 23.6, like we have now on G/U, will you take 4h TC straight, or wait for close above 0 Fib?
Sorry guys if it's out of topic, but it can really help to filter bad TC signals.
  • #12,287
  • Feb 27, 2008 8:30am Feb 27, 2008 8:30am
Quoting BIL2205
HI Ira !!! CONGRATS ON ACHIEVING YOUR MONTHLY GOAL !!! SO PROUD OF YOU !!!!!
Thank you Nadia!!! Are you going to the seminar , Palmer is paying everything. EUR goes up again, so we can have first class.
  • #12,288
  • Feb 27, 2008 8:31am Feb 27, 2008 8:31am
Quoting Palmer
Right now it's at 4875, just below the 21 plus a few. The logic behind this is to let the method rules take me out. If we get a TC (and price doesn't make it down through the 21) and a return to the upside I'd like to re-enter and still hold this. If we get a close below the 21, that changes the picture of things.
but when u entered the trade ,price had been closed below 21 !
  • #12,289
  • Feb 27, 2008 8:36am Feb 27, 2008 8:36am
Quoting bshadroo
but when u entered the trade ,price had been closed below 21 !
Yes, buuuuut price was returning to the upside and the 365 was holding...see previous posts....I thought this was already covered...
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  • #12,290
  • Feb 27, 2008 8:42am Feb 27, 2008 8:42am
I took the CT on USDGBP this morning very similar to what Phillip posted but only took half a position and made 25 pips. Also I took a CT on the USDCAD and got out with a -9 pips if the news wasn't coming up I would still be in it. As for now all positions closed.
  • #12,291
  • Feb 27, 2008 9:29am Feb 27, 2008 9:29am
Looks like EUR/USD keep setting new record. Just took a trade long at 1.5080. SL at 1.5033. TP is about 50 - 60 pips. Wish me luck. Thanks.
Never enter a Trade without a STOP LOSS
  • #12,292
  • Feb 27, 2008 9:30am Feb 27, 2008 9:30am
Quoting Palmer
Yes, buuuuut price was returning to the upside and the 365 was holding...see previous posts....I thought this was already covered...
Hi Palmer,
I have a PM from Donna.She is doing ok.She is not trading and busy with her other business.

Regards
Mike
Failure, is a wonderful teacher!
  • #12,293
  • Feb 27, 2008 10:12am Feb 27, 2008 10:12am
Quoting hijackxx
I'm sorry Ryan, i just took a 1hour trade GU TC. The rounding bottom and TC convinced me to take it..
EDIT: 13pips for the trade.

lol no biggie as long as you make pips. I am still trading just adding some of the stuff I am reading from the james16 stuff and mixing it all into this macd. Seems to be working very well GBP/JPY for fun.
Keep taking CT trades, I need more money
  • #12,294
  • Feb 27, 2008 10:19am Feb 27, 2008 10:19am
Quoting Palmer
I'm thinking of Vegas for the seminar although Bermuda might be easier for Phillip

Still in....+400...crazy.

Thinking out loud for this morning:

The durable goods orders comes out in about 20 minutes and Bernancke and home sales come out at 9 eastern. If the durable # is strong = dollar positve. There's more 'talk' that Bernie may lower interest rates today but it's a rumor, he is speaking this morning though. "We have to fix the credit markets and housing markets." Lowering interest rates is one way to do this but I don't think this brings the price of gold, corn (anyone seen a corn chart lately?) or oil down. Either way, if we get a strong durable goods order number and the EU falls back, it might shoot right back up if Bernie drops the rate .25 basis. Soooo, keeo an eye on things if you enter a trade on a $ pair this morning...

Has anyone heard from Donna? I pm'd her last week and didn't hear back.

So...Vegas or Bermuda?

hahah,,,,VEGAS is dangerous,,,, NEL should go to a lsland to be a king....
  • #12,295
  • Feb 27, 2008 10:34am Feb 27, 2008 10:34am
Quoting Ryanmcd
lol no biggie as long as you make pips. I am still trading just adding some of the stuff I am reading from the james16 stuff and mixing it all into this macd. Seems to be working very well GBP/JPY for fun.
I try to read on the James16 thread at least once a week, just to refresh my memory and build confidence in the price action method.

I only have used the James16 on the Daily and Weekly charts, using only Pin Bars, and BUOB and BEOB.

How are your results using the Pin Bar, BUOB, and BEOB on the 4 hour?

Are you combining these bars with MACD signals?

I see you could have made some pips with the BEOB on the GBPJPY this morning. Is that a trade you took?

Thanks Ryan!
  • #12,296
  • Feb 27, 2008 10:36am Feb 27, 2008 10:36am
That's incredible. I took the same trade of Phil today on G/U, but only for 13 pips. My first Counter Trade gain!
Now I'm waiting for a TC on G/U.
I like the tail just on the 8EMA and the 365EMA
  • #12,297
  • Feb 27, 2008 10:52am Feb 27, 2008 10:52am
The jpy has two tails for the past 2 candles. Is it showing a possibility for CT?
Maybe back to the 8 EMA

Suggestions?
  • #12,298
  • Feb 27, 2008 11:35am Feb 27, 2008 11:35am
I want to add my congratulations to those of you making pips out of these large moves this week. So many of you are growing by leaps and bounds, and we're finding so many capable teachers, now, supporting this thread with their experiences. My special congrats to you, Ira, on reaching your goal for the month, but even more so for the discipline and insight you are showing in your posted trades. The same to you, Nadia. You and Ira have shown us all how hard work, strong discipline, and continued learning can pay off.

Palmer, absolutely wonderful! Onward to the stars, man, and the force be yours!

Phillip, I want to thank you for stressing, several times recently that we need to have a short term system. In this period of huge moves, I went back to a short term system that didn't work for me in the past, but, with what I've learned on this thread about price action, support and resistance, and the discipline of following one's rules, amazing! I've found that the short term system works very well! Given the times that I trade, I only get occasional four hour entries, but there is often an opportunity for a short term entry. My rules, during trending days like today, involve moving my stop up as soon as I see my first profit region passed. There is always a stop of no more than fifteen pips. On days like today, there is no profit target, simply a calculation of when I can move my stop up again.

On the EURJPY, today, I took fifteen pips the first trade and thirty-eight on the second one. I might have taken profit at a much higher level by not moving my stop up at each level of support, but having the discipline to follow my own rules gave me a feeling of strength. I will be able to refine my rules as I grow in experience with my short term method, but I will strive to keep following them no matter what. I have finally come to see how important that is. I thought I understood that a long time ago. I could advise others about it. It was so clear, but, somehow, I couldn't follow the advice that I would have given to others.

So, thank you, again, and I will keep learning on this thread from you and from the other fine people who post their trades, even though I will still not be posting many four hour trades myself. Trying to be awake for the best four hour times just doesn't work for me currently. The discipline and the understanding of market rhythm, which this thread imparts, apply to all systems. --Tony
  • #12,299
  • Feb 27, 2008 1:45pm Feb 27, 2008 1:45pm
Quoting ira
Thank you Nadia!!! Are you going to the seminar , Palmer is paying everything. EUR goes up again, so we can have first class.
Oh, don't forget me! take me as well. Sorry for be lurker for a long time for I have a tough work these days and am still on the way of becktesting just as your advice. It's really worthy, and is good to leave live trade and observe it. I learn more from history and have more confidence to master this great system. Congratulate for Palmer's trade for I can present the seminar
Plan your trades and trade your plans
  • #12,300
  • Feb 27, 2008 2:08pm Feb 27, 2008 2:08pm
Hello , here is the written copy of the daily wrap up from yesterday. sorry it is a bit late. Thanks for your patience.
please refer to post 12220 for the charts ,.thank you.

Nadia.
Attached File(s)
File Type: doc Daily wrap up feb 26th 2008.doc   7 KB | 467 downloads
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
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