4 Hour Strategy (MACD) | Page 673 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

4 hour strategy (the nausbot - 4 hour trader) 25 replies

4 Hour Strategy Macd+other Indicator 21 replies

X-1102 1 hour , 4 hour and daily Tf trades 7 replies

Create a verticle line at certain hour for every certain hour 16 replies

Is the "4 Hour Strategy (MACD)" the best system here at FF? 20 replies

Attachments: 4 Hour Strategy (MACD)
Exit Attachments

4 Hour Strategy (MACD)

  • #13,441
  • Apr 4, 2008 1:59am Apr 4, 2008 1:59am
Quoting saka
According to my experience of becktesting. I find that 4h enter @ Tokyo time is good for CT, TC is good for start of euro time. New York time is not sure for its heavy volume.

I use MIG's metatrader platform which I remember is same as Philp's time. This is summer day time, I don't know whether the time zone is GMT+1 or +2

Tokyo: 4:00, Euro: 8:00 12:00, New York: 12:00~16:00~20:00

It is good to start trade @8:00 which is 14:00 @ Beijing Time. I can watch chart from 4:00 to 16:00, and can open a position @16:00 then go to bed.

I like euro time for it has appropriate volume to push the price to a direction in not a very long time to give me safe and enough profit.
Hi Saka, Actually I believe the European session (mostly pushed by London) has the largest volume and I have seen and heard many traders say they only trade between 8-4 UK time. It is the most volatile time during the day and can give the best pips but also the bigger risk.

If you want more information on the forex market in general this book is worth a look:

http://www.amazon.com/Trading-Global.../dp/0735201463

It is fairly heavy reading though and it will not help you to trade. I only found it useful to understand the market and how it works / what it is etc.
  • #13,442
  • Apr 4, 2008 3:05am Apr 4, 2008 3:05am
Im not trading today because of NFP but am watching GBP chart all the same. It is currently cruising up to the daily trendline down which has been tested twice before. It is also over bought on the 4H. As I said Im not trading but a CT may be on the cards as the day progresses, at least it would be if it wasnt for NFP which can make price do pretty much anything.
  • #13,443
  • Edited 4:48am Apr 4, 2008 3:21am | Edited 4:48am
i bought eu after strong bullish H1
edit: i putt the SL based on smaller TF because of NFP at 5698
edit:closed BE
Attached Image (click to enlarge)
Click to Enlarge Name: eur1.gif Size: 18 KB
  • #13,444
  • Apr 4, 2008 3:48am Apr 4, 2008 3:48am
Hi Everyone,

I am also not trading today because of NFP, but will be using my time for chart history study time. I've noticed GBP daily has a sort of 'nesting doll' scenario developing, it will be interesting to see how it completes the picture.

I'm not making any bets on it, certainly not putting any money on it! NFP day is too unpredictable for me. Just thought it was an interesting pattern developing and is worth keeping an eye on!

Rebecca.

PS. to UNLV; Tony (Old Dog), Maxster & the guys gave great advice. Just look at 1 pair, whichever you are most comfortable with, and STOP TRADING for at least (and I mean 'at least') 1 week. Do something you enjoy this weekend, something that relaxes you and makes you laugh or smile, preferably both!! On Monday, sit back, DO NOT LOOK FOR TRADES. Look at the recent historical charts for that pair. When do most tradeable movements happen? How would that fit into your lifestyle & daily routines? Don't try & do what others do, do what YOU need to do! They will have different lives to yours, with different external & internal pressures. Only you can answer your questions, but only if you allow yourself to sit back, take time out & think logically & calmly. Believe me, we've all been there, and if anyone hasn't been where you are yet, they will be sooner or later!!! All part of this rollercoaster learning curve!! Remember Vette's list from a few pages back? It's so true!!!
Attached Image
May all your pips grow into great big fruitful trees
  • #13,445
  • Apr 4, 2008 7:14am Apr 4, 2008 7:14am
Quoting brettboz
Hi Saka, Actually I believe the European session (mostly pushed by London) has the largest volume and I have seen and heard many traders say they only trade between 8-4 UK time. It is the most volatile time during the day and can give the best pips but also the bigger risk.

If you want more information on the forex market in general this book is worth a look:

http://www.amazon.com/Trading-Global.../dp/0735201463

It is fairly heavy reading though and it will not help you to trade. I only found it useful to understand the market and how it works / what it is etc.
Thanks for your information. I will study it.
Plan your trades and trade your plans
  • #13,446
  • Apr 4, 2008 8:45am Apr 4, 2008 8:45am
Quoting saka
Thanks for your information. I will study it.
Honestly the book is only good if you want information on the background of the forex market in general. It will not help you trade at all especially not retail broker trading like what we are all doing. For that we have Philip and this thread
  • #13,447
  • Apr 4, 2008 9:21am Apr 4, 2008 9:21am
Quoting brettboz
Honestly the book is only good if you want information on the background of the forex market in general. It will not help you trade at all especially not retail broker trading like what we are all doing. For that we have Philip and this thread
Absolutely
Plan your trades and trade your plans
  • #13,448
  • Apr 4, 2008 9:51am Apr 4, 2008 9:51am
sold eurchf at 25
sl at 65
i went out +40pips in about 15 minutes
BTW do u have that tail on ur chart?
Attached Image (click to enlarge)
Click to Enlarge Name: eur1.gif Size: 20 KB
  • #13,449
  • Apr 4, 2008 10:04am Apr 4, 2008 10:04am
I saw a spinning top developed at gpyjpy 1h chart and immediately switch to the 4h chart. MACd signaled a lower high on the existing upward trend on 4h chart. At the point where the spinning top formed, the 4h bar was still around 204.30. (entry level) 1st t/p would have been 4h trend line and 2nd tp 21ema. Attached are 1h & 4h charts.

Im still learning how to pick up more profitable trades, will appreciate any comments/advise whether this was a valid entry etc.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpjpy1h.gif Size: 34 KB
Click to Enlarge Name: gbpjpy4h.gif Size: 35 KB
  • #13,450
  • Apr 4, 2008 10:38am Apr 4, 2008 10:38am
could someone explain to me, what a spinning top/bottom is please?

Thx Till
  • #13,451
  • Apr 4, 2008 10:45am Apr 4, 2008 10:45am
Quoting RemingtonTJ
could someone explain to me, what a spinning top/bottom is please?

Thx Till
You can find more informations on spinning tops/doji here

Inserted Video
  • #13,452
  • Apr 4, 2008 4:25pm Apr 4, 2008 4:25pm
Quoting RemingtonTJ
could someone explain to me, what a spinning top/bottom is please?

Thx Till

Good example of spinning top at resistance and support.

Explanation courtesy of stockcharts.com

Candlesticks with a long upper shadow, long lower shadow and small real body are called spinning tops. One long shadow represents a reversal of sorts; spinning tops represent indecision. The small real body (whether hollow or filled) shows little movement from open to close, and the shadows indicate that both bulls and bears were active during the session. Even though the session opened and closed with little change, prices moved significantly higher and lower in the meantime. Neither buyers nor sellers could gain the upper hand and the result was a standoff. After a long advance or long white candlestick, a spinning top indicates weakness among the bulls and a potential change or interruption in trend. After a long decline or long black candlestick, a spinning top indicates weakness among the bears and a potential change or interruption in trend.
Attached Image (click to enlarge)
Click to Enlarge Name: spinning tops.GIF Size: 14 KB
  • #13,453
  • Apr 5, 2008 9:28am Apr 5, 2008 9:28am
A general question (maybe to Philip)

what would you say is the first step in looking for possible trades?

Is it mainly the MACD signals first, or do I try to look for a special "market rythm" and then look for MACD triggers?

Till
  • #13,454
  • Apr 5, 2008 10:53am Apr 5, 2008 10:53am
Quoting RemingtonTJ
A general question (maybe to Philip)

what would you say is the first step in looking for possible trades?

Is it mainly the MACD signals first, or do I try to look for a special "market rythm" and then look for MACD triggers?

Till
maket rhythm and emotions, then MACD trigger
Success is the small sum of efforts, repeated day in and day out.
  • #13,455
  • Apr 5, 2008 12:27pm Apr 5, 2008 12:27pm
I've searched the thread but cannot find any reference. Has anyone applied Phillip's strategy to daily charts? If so can I be directed to the discussion or would someone share their findings? My lifestyle has me checking charts very infrequently. By the looks of it all similar rules and 'emotion' carry over to daily charts. Maybe only two trades a month. Any help would be appreciated.
  • #13,456
  • Apr 5, 2008 5:25pm Apr 5, 2008 5:25pm
Quoting RemingtonTJ
A general question (maybe to Philip)

what would you say is the first step in looking for possible trades?

Is it mainly the MACD signals first, or do I try to look for a special "market rythm" and then look for MACD triggers?

Till
Rem:

A lot of it has to to with the current flow of the market. Look at the 4hr EURUSD from about the beginning of Feb to mid March. See how the rhythm of the market was bringing the price back to the 21 and kept moving up from a TC in a nice 'predictable' motion. Now look at the past week, this is a tough chart. You'll see that the majority of chart posts here have trendlines drawn on them. When the rhythm of the market is flowing, price action reacts in accordance to where the trendlines are drawn. Look at Nipper's post #13248 as an example. To recognize every facet of the rhythm of a chart takes a lot of study time. Phillip's post #13038 paints a picture of the rhythm but this takes time to get implanted on the brain. I would say it's the price action that takes precedence over just about everything along with the current flow (rhythm) of the market; how is price reacting to the moving averages, how is price reacting to trendlines or s/r areas, and then take into account the MACD with it's patterns. The next step is to zero in on the 1hr charts to look further into the...sub-rhythm of the 4hr charts for an earlier entry or to see other areas that might be affecting price on the 4hr charts. But as always, having the patience to wait for a set up is mandatory as well.

Hope some of this helps.



13248
13038
  • #13,457
  • Apr 5, 2008 11:14pm Apr 5, 2008 11:14pm
Quoting mikeh3855
I've searched the thread but cannot find any reference. Has anyone applied Phillip's strategy to daily charts? If so can I be directed to the discussion or would someone share their findings? My lifestyle has me checking charts very infrequently. By the looks of it all similar rules and 'emotion' carry over to daily charts. Maybe only two trades a month. Any help would be appreciated.
hi mike
It definitely can be used at daily chart. But I still think there will be something different from 4h chart. You know, from 4h chart, the session before tokyo time, there will always be low volume and forms a little candle on the chart, even at tokyo session it also does. Thus from 4h chart, it always has some probability to form a evening/morning star or harami or so.

Meanwhile, there is no different candle from each other from daily chart, eveyday is equal, I think a morning star at daily chart is a little different from one from 4h chart. This is my view
Plan your trades and trade your plans
  • #13,458
  • Apr 6, 2008 2:25am Apr 6, 2008 2:25am
Hi everybody,

I've been trying to follow Phillip's system for the last few weeks. Unfortunately, I'm a slow learner and found his lessons a bit jumping around (just me, ok? Only me). I tried to follow his advice, studying all the posts in this thread, but, mind you, I had to work from 10am to 9 pm 6/7. Progress is tooo sloow.

So, if this isn't too much, can some of you start a new thread where you can help newbies to understand this system on 4H chart (and 4H chart alone), please? If anyone else interested in 1H chart, they can start another thread for this timeframe alone. And for any development or anything they can go this original thread.

Mind you, trying to follow a thread that has been active for over a year, with lots of posts every day, it's like a would be runner trying to catch up a marathon champion.

Thanks
  • #13,459
  • Apr 6, 2008 3:34am Apr 6, 2008 3:34am
Zen, afew weeks of reading and absorbing this huge thread does not mean you are a slow learner. I spent a month reading the posts. The learning comes from immersing oneself in the method and getting into the minds of those who placed trades and challenged the method, that is the whole point of reading the thread.

I followed the Euro trades days after day on the thread, looking at the 4 hr charts and deciding what i would have done along the way. When shorter time frames came into view i used them also, getting down to 5 mins charts where i could see what the trades looked like on the ground.

I do not welcome the idea of three threads for one method, least of all one of the few that actually works. The lessons learned by the new thread members can be learned from the thread, all the questions have already been answered. Listening to Phils lessons and re reading pdfs is the way to absorb the method. The reason why this method works in some ways is that it has not developed or been changed. It actually works as it is, and Phil has kept the thread focused on that. Woodie has issues in his chat room when traders come in and want to expand his method and change stuff before most have grasped the basics and he makes it known that they are not welcome. And i can understand this. It is hard enough getting traders and new people with the myriad of differing attitudes to trading and money etc to be focused on one thing and simply go along with it. Phils method if successful because it works and everyone sticks to it.

I am not suggesting you wish to change anything but things work here because of the focus. You need to give the thread and the method alot of time and you will be rewarded.It takes time to grasp the method and get into the mind set. Sometimes it may take many months, this is my second time around at Phils method, and now i have 'got it'. It can be a question of waiting until ones mind comes round to it as in my case, despite the wish to learn.......it just takes time.Good luck with your learning give it time.........
  • #13,460
  • Apr 6, 2008 3:48am Apr 6, 2008 3:48am
Quoting Zen
Hi everybody,

I've been trying to follow Phillip's system for the last few weeks. Unfortunately, I'm a slow learner and found his lessons a bit jumping around (just me, ok? Only me). I tried to follow his advice, studying all the posts in this thread, but, mind you, I had to work from 10am to 9 pm 6/7. Progress is tooo sloow.

So, if this isn't too much, can some of you start a new thread where you can help newbies to understand this system on 4H chart (and 4H chart alone), please? If anyone else interested in 1H chart, they can start another thread for this timeframe alone. And for any development or anything they can go this original thread.

Mind you, trying to follow a thread that has been active for over a year, with lots of posts every day, it's like a would be runner trying to catch up a marathon champion.

Thanks
The truth is Phillip is the marathon champion and we are/were all waaay behind him - but if you work at it you will eventually be your own champion in your own race because no two traders are the same. It would not matter if this thread just started today your learning curve/time would be the same.

All the meat is in the pdf files of the first post - all the other things only come with time and endless hours of study especially deep understanding of price movement.

One of the things that make Phillip's method tough is because he teaches complete market understanding - trending, ranging, breakout and most of all when to stay away. If you want to narrow your focus concentrate on the TC - look for MACD TC signals after price has made a significant move - watch for pullback to 8-21 EMAs and entry on resume with MACD TC as trigger - filter these MACD TC signals by studying the candle patterns, trending action vs ranging action that give consistent winners. You must be able to tell when price action is trending vs ranging. Then once you start feeling you have success and deeper understanding - you will realize why some of us go into the 1H and integrate other timeframes into our game plan.

Bottom line is don't jump around looking for the holy grail - it only exists within yourself through your committment and determination by studying price movement and one method.
55 traders viewing now, 1 is registered:
sumitgpl