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4 Hour Strategy (MACD)

  • #12,941
  • Mar 18, 2008 6:38am Mar 18, 2008 6:38am
Quoting aihua5
@1.5813, BE 20, TP open, SL 1.5757
Reason: TC, bounce from upper TL
I got in at 5782, this was the 1H close and first green bar on 1H MACD. This bar had also broken the downward trend line on the 1H which was really what got me in the trade (if I had only had the MACD I wouldn't have taken it).

I already took half profit at 32 pips and now holding the rest at slightly above BE (around the 8).
  • #12,942
  • Mar 18, 2008 7:03am Mar 18, 2008 7:03am
Quoting Palmer
mkain has it. I may be in the hunt for another broker soon also. I had a few 5min opportunities last night and this morning. For some reason the spread was almost 7 pips last night when the ODL demo was at 2 the whole time. This morning I had a short entry that just hung there and did not get filled. As I watched the EU fall with pips I could have had the order just sat there, finally canceled it. . Once that gets stopped out I will more than likely change brokers. I am thinking about opening a separate account until the long gets stopped though, we'll see. Looking at ODL and IB...Be cautious this week...
Hi Palmer,
I heared a lot about MB Trading.ECN broker with no dealing desk and fantastic spreads.
Not very user friendly platform but as I know most of traders with them use MT4 to analyse and the deal with them.Not bad to take a look.
I am switching to them in a few weeks. (MBTrading.com)

Good luck
mike
Failure, is a wonderful teacher!
  • #12,943
  • Mar 18, 2008 7:10am Mar 18, 2008 7:10am
Hi

Ive noticed on a few charts that are posted some people are using an Indicator which gives the strength of the trend and rhythm on the screen-

aihua has one on the recent chart of Euro posted

Can anyone help me as to where to find it?

regards

Mark
  • #12,944
  • Mar 18, 2008 7:37am Mar 18, 2008 7:37am
I got stopped out @ 1.5765
  • #12,945
  • Mar 18, 2008 7:43am Mar 18, 2008 7:43am
Quoting mark r
Hi

Ive noticed on a few charts that are posted some people are using an Indicator which gives the strength of the trend and rhythm on the screen-

aihua has one on the recent chart of Euro posted

Can anyone help me as to where to find it?

regards

Mark
Here ya go:

http://www.fxtradeblog.com/tools.html
  • #12,946
  • Mar 18, 2008 7:45am Mar 18, 2008 7:45am
Quoting mike1349
Hi Palmer,
I heared a lot about MB Trading.ECN broker with no dealing desk and fantastic spreads.
Not very user friendly platform but as I know most of traders with them use MT4 to analyse and the deal with them.Not bad to take a look.
I am switching to them in a few weeks. (MBTrading.com)

Good luck
mike

Thanks Mike....I'm on the hunt and I will check them out as well.
  • #12,947
  • Mar 18, 2008 7:51am Mar 18, 2008 7:51am
dear all,

i found, its difficult to determine false signals from macd color, which indicator will optimize macd signal, i mean how to confirm the truth of the signal made by macd color?


big thanks for the answer...
{Link Removed}
  • #12,948
  • Mar 18, 2008 7:59am Mar 18, 2008 7:59am
Quoting brettboz
I got in at 5782, this was the 1H close and first green bar on 1H MACD. This bar had also broken the downward trend line on the 1H which was really what got me in the trade (if I had only had the MACD I wouldn't have taken it).

I already took half profit at 32 pips and now holding the rest at slightly above BE (around the 8).
I phased out my trade and left just a 10% open with tight stop and this has been hit. Overall around 25 pips profit.

This is fine by me as Im taking the rest of the week off now.
  • #12,949
  • Mar 18, 2008 8:15am Mar 18, 2008 8:15am
Quoting soce
I have a question regarding candlestick patterns and how they can mean anything when everyone uses different cut off points for new candles....


I have been studying this thread a lot lately and IMO Phillip's trading methods come down to analyzing these 5 things:
1) Where are we in a trend (support and resistance lines that define a channel or market rhythm)
2) Where are we with regards to Moving Averages and again market rhythym
3) Spacing between stop and next likely resistance (R:R ratio based on stop and 1 & 2 above)
4) Candlestick patterns leading up MACD signal
5) MACD Signal

The biggest issue I have with these is #4. In studying #4 in more detail I have found something that disturbs me greatly. In reviewing people's 4 hour charts posted on here I have noticed that others are using different feeds and even different break points in the 4 hour candle which makes sense because everyone's clocks are different and MIDNIGHT is different for everyone. But what is messing with my mind is how on one person's 4 hour chart they might have a "morning star" pattern or "hanging man" candle but then on my chart I might have a completely different looking candle formation because my 4 hour candle started and stopped getting drawn at a different time then other people's candles. This leads me to the following questions:

a) Do candle stick patterns bigger than (1 hour) mean anything since pending on when your candles are started/stopped will dictate what your formations look like.
b) if answer to top is YES, then how does one use these when they don't even show up consistently like everyone else unless on the 1 hour or smaller (this assumes that everyone's hour starts at the same time which they do and therefore all formations should look the same)

I am sorry if my question is coming across as vague and if need be I can go back and find examples. Any help would be appreciated. Phillip seems to really talk/use these formations a lot in making his ultimate decision so I feel they are important and I must gain a much better understanding of how to use them as well as what it means (if anything) when you guys put up your charts that show one formation and then mine show a different formation all together.

Thanks
dear phillip
i think u may explain this problem one time for ever and each time we receive same questions we can refer it to the specific post wich u may write.
to be honest,i still have the same problem
  • #12,950
  • Mar 18, 2008 8:28am Mar 18, 2008 8:28am
Quoting hyiperz
dear all,

i found, its difficult to determine false signals from macd color, which indicator will optimize macd signal, i mean how to confirm the truth of the signal made by macd color?


big thanks for the answer...
hyeperz:

Don't concentrate too much (don't specifically trade by) on the MACD. A lot of this method has to do with the actual price action and it's relation to the moving averages, support/resistance areas, etc. If price is ranging or if there is a big news event (like the Fed today), the MACD can change back and forth at will. There are some charts to download for the entire 2007 year for the Euro on the website. Feel free to download those and see how price reacts to the moving averages along with the MACD. A lot of the signal confirmation has a lot to do with the motion of the current market. IF the motion (rhythm) isn't there, then the MACD does not provide much input.
  • #12,951
  • Mar 18, 2008 8:41am Mar 18, 2008 8:41am
i was chatting with golfer yesterday and i learned somethings about EA.it was interesting to me ,specially it has strategy tester.i want to ask is there anybody have an EA related to h4 system?
  • #12,952
  • Mar 18, 2008 10:25am Mar 18, 2008 10:25am
Info
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 4 Hour Strategy.gif Size: 23 KB
Click to Enlarge Name: 4 Hour Strategy 1.gif Size: 22 KB
Attached File(s)
File Type: zip Daily Wrapup 18 March2008.zip   819 KB | 1,145 downloads
  • #12,953
  • Mar 18, 2008 10:25am Mar 18, 2008 10:25am
I think a good setup is forming on the 1 HR & 4 HR EU charts with the lower highs for a move back to 21 and even 89. I am short at 65. Any words of guideance.
  • #12,954
  • Mar 18, 2008 10:29am Mar 18, 2008 10:29am
well, i see a short too...
  • #12,955
  • Mar 18, 2008 10:31am Mar 18, 2008 10:31am
Quoting kim
Hi PHillip,

Million thanks.

May I know how you calculate the Winning and lossing at the position sizing?
What time frame are you analysis?

I had write a EA to do the back testing. It is not include Break through Zero signal.

The rules I set as below
Entry forSell
1. Ask price is below 21ma, 89ma, 200ma, 365ma
2. MACD signal below 0 and make a TC or ZB signal. It made a n turn.

Entry for Buy
1. Ask price is above 21ma, 89ma, 200ma, 365ma
2. MACD signal is above 0 and make a TC or ZB signal. It made a u turn.

Sell
1. Set initial SL at -40pips.
2. Move SL to 40pips after make 45pips gain.
3. Move SL below/above 15pips from 21ma after make 60pips gain.

It is purely and trade based on very MACD signals. The Winning Loss ratio is 34:39 and Profit Loss ratio is 0.87. From the result, the worse is start from Feb to Jun 2007.
Is my rules setting incorrect? Any thing can improve it? Please give me some advise.
But the result i get is not very good as shown as below

Hi
I cannot give you a private message as your number of posts looks like prevents it. Before we post an Expert Adviser I would like to test it first as people is going to download it and mess their accounts up with it if it is not tested. Can you please delete that post and e-mail me at [email protected] and then we can work together on the EA. Sorry as this is not ment to be rude but to protect people.
Thanks
Phillip
  • #12,956
  • Mar 18, 2008 10:56am Mar 18, 2008 10:56am
Quoting Phillip Nel
Info
I listen to your mp3 every day,
and every day I learned a lot, not only trading but also my listening English
I have made a few pips todays,
thank you, Phillip

Dhalsim
Success is the small sum of efforts, repeated day in and day out.
  • #12,957
  • Mar 18, 2008 11:07am Mar 18, 2008 11:07am
MACD TC pattern. Morning star off the 8ema. Pullback to breakout level.

Enter 1.5774
Stoploss 1.5734
TP 1.5852 Will take 50% after 25pips and set remainder to BE and 25trailing stop.

Edit 1
50% closed for +25

Edit 2
Trailing stop closed at 1.5706
Total gain 25+32 =57/2 = 28.5
  • #12,958
  • Mar 18, 2008 11:09am Mar 18, 2008 11:09am
I couldn't post this earlier because I was unable to attach images for some reason. Anyhow I took this trade as follow again I call this first bounce entry - where price bounces from the blue fibs 38% - 62% area and close above the 38% then bounces again on the minor swing red fib.

1. 4H TC looks very good with strong candle support.
2. 1H minor swing bounce on 38% fib (not the best looking but was good enough for me)
3. Strong price support on 50% fib of previous 4H up move (blue fibs) And Price Closed above the 38% fib after finding that support

Entry: 1.5776 SL : 1.5737 1st 50% PT : 1.5814 (10 pips below 138% external retracement of minor swing)

This was my 2nd trade for the month but I did miss a very good entry last week.

I love this setup because the minor swing bounce occurs at the same closing bar as the 4H MACD TC.

Notice also how I objectively defined my SL & first PT. I manually exited 2nd half as it failed to break the 1.5830 area after price pulled back to 1.5802 then rallied - manually exited at 1.5821.

Heading to beach now :>))
Attached Image (click to enlarge)
Click to Enlarge Name: 1h.gif Size: 36 KB
  • #12,959
  • Mar 18, 2008 11:21am Mar 18, 2008 11:21am
Quoting maxster
I couldn't post this earlier because I was unable to attach images for some reason. Anyhow I took this trade as follow again I call this first bounce entry - where price bounces from the blue fibs 38% - 62% area and close above the 38% then bounces again on the minor swing red fib.

1. 4H TC looks very good with strong candle support.
2. 1H minor swing bounce on 38% fib (not the best looking but was good enough for me)
3. Strong price support on 50% fib of previous 4H up move (blue fibs) And Price Closed above the 38% fib after finding that support

Entry: 1.5776 SL : 1.5737 1st 50% PT : 1.5814 (10 pips below 138% external retracement of minor swing)

This was my 2nd trade for the month but I did miss a very good entry last week.

I love this setup because the minor swing bounce occurs at the same closing bar as the 4H MACD TC.

Notice also how I objectively defined my SL & first PT. I manually exited 2nd half as it failed to break the 1.5830 area after price pulled back to 1.5802 then rallied - manually exited at 1.5821.

Heading to beach now :>))
hi, maxster
your sl 1.5737, does it means swing short 1.5740-3pips?
thanks for the post

dhalsim
Success is the small sum of efforts, repeated day in and day out.
  • #12,960
  • Mar 18, 2008 11:22am Mar 18, 2008 11:22am
Phillip, thanks so much for your answer to my candle question, I really appreciate you taking that time to answer questions.

Here is my next question, how come I am not able to change to the MIG server but you are able to change to the one available for me? Is there some trick to picking the MIG? When I try to pick it, it just hangs there and never completes. Any help would be appreciated.
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