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4 Hour Strategy (MACD)

  • #13,821
  • Edited 2:00pm Apr 19, 2008 1:49pm | Edited 2:00pm
Quoting Fully Aware
By the way, my Metatrader crash when i load the template 4hmacd.tpl, do you have that kind of crash sometimes ?

Edit : Looks like it happens when i want to change the time from 4h to 1h or less
No, I never had a MT4 crash, I can copy the template to different platforms, and they work fine...
You may try this one, it uses MACD_Colored_v103 for 4hr charts (5,13,1) and MACD_Colored_v102 for 1hr charts (8,13,1)
Attached File(s)
File Type: tpl 4hmacd080419.tpl   3 KB | 743 downloads
File Type: mq4 MACD_Colored_v102.mq4   6 KB | 602 downloads
File Type: mq4 MACD_Colored_v103.mq4   13 KB | 713 downloads
  • #13,822
  • Apr 19, 2008 3:06pm Apr 19, 2008 3:06pm
Quoting islandtrader
I thought I might share it here as for a long time I used to scroll the mouse wheel for backtesting to get far back in time on the charts....
Now with increased scrolling action by following this thread from the start, I discovered that by double clicking into the lower left of the chart one can just enter the desired date and the chart will just jump there.
Might be old news to most, but a revelation to me , and maybe of some use for others too
cheers

For a list of some really cool stuff you can do with your keyboard in MT4 push F1 to open the help file and then go to The User Interface section and the last subject is "Fast Navigation Tools" open this page and you will find some shortcuts you didnt know existed.........happy button pushing.....pipip....Jimdandy
  • #13,823
  • Apr 19, 2008 5:43pm Apr 19, 2008 5:43pm
Quoting JimDandy
For a list of some really cool stuff you can do with your keyboard in MT4 push F1 to open the help file and then go to The User Interface section and the last subject is "Fast Navigation Tools" open this page and you will find some shortcuts you didnt know existed.........happy button pushing.....pipip....Jimdandy
Yep, that's the beauty of MT4, it's very easy to learn, free, and yet it's actually a deep piece of software.
  • #13,824
  • Apr 19, 2008 5:58pm Apr 19, 2008 5:58pm
I agree we all try to over complicate things. THe simpler the better because too much information create too many rules and then we can not enter good trades becasue we have too many criteria to make it work. O rthe flip side to this coin would be we are too busy trying to make a trade fi t a rule that we miss the trade or get it too late. Thanks for the comments! Phillip Nel
  • #13,825
  • Apr 19, 2008 8:48pm Apr 19, 2008 8:48pm
Quoting islandtrader
No, I never had a MT4 crash, I can copy the template to different platforms, and they work fine...
You may try this one, it uses MACD_Colored_v103 for 4hr charts (5,13,1) and MACD_Colored_v102 for 1hr charts (8,13,1)
Thanks islandtrader, it works great like that (maybe it was because i didnt save the MACD_Colored_v102 for 1hr charts in the metatrader directory.

Should save this template in the first page and teach how to use a template in Metatrader too :d -> Charts -> Template ->
  • #13,826
  • Edited 1:08am Apr 20, 2008 12:39am | Edited 1:08am
Quoting JimDandy
I see that some took the Tc that the euro gave. I did not take it and I'll tell you why. It may just be me, but I don't always believe what one currency pair is telling me is about to happen in the next four hour candle. Before I decide to take a trade, Long or short in the Eur/Usd , which by the way is what i trade most, I will look at the move the dollar just made in the Euro/Usd pair..... whether it was a gain or a loss against the Euro , and then I will look at another pair like the Usd/Chf to see if the dollar made a corresponding change in value against the currency. I want you to look at the differences between these to Trend continuation signals of he Eur/Usd and the Usd/ Chf.
Great post, Jim. It's a sign of a mature trader who Watches different major pairs and observes the correspond of them.
Plan your trades and trade your plans
  • #13,827
  • Apr 20, 2008 9:51am Apr 20, 2008 9:51am
friday was a very bad day for me .i loose my 17days profit in 1 day (i was +150 for the month).and now im thinking about my emotions on that day and fast and bad decesions .will be back to the market stronger on monday....
  • #13,828
  • Apr 20, 2008 10:09am Apr 20, 2008 10:09am
Quoting bshadroo
friday was a very bad day for me .i loose my 17days profit in 1 day .and now im thinking about my emotions on that day and fast and bad decesions .will be back to the market stronger on monday....
Hi Bshadroo,

I can completely relate to you on the emotion front. I think alot of people underestimate how much emotions can have an impact on your trading. I started using Phil's strategy on a demo account. In six months I increased the balance from 3000 to 12000.

I then decided that I will start trading live again ( I had already blown a live account before demo trading). But once I went live again, my emotions & fears overtook me. My results on the live account were nothing like the ones I got whilst demo trading. To me this was a clear case of emotions holding me back.

I am trying to keep my emotions in check & slowly this is happening. The support people give on this thread helps a great deal too.

Hope you have a good positive week next week. My advice to you will be not to start the week thinking that you HAVE to win back all that you have lost instantly. Stick to the rules & you will be fine.
  • #13,829
  • Apr 20, 2008 10:22am Apr 20, 2008 10:22am
jimsdandy:
look at the crosses ,look at the eurgbp chart its in the historical high,it means when eurusd goes up ,gu can goes down even,look at the eurchf,it backs to the monthly broken TL and now ready to go down ,it means if eu runs sideway ,usdchf can goes down and ...
i think we cannot look at the diffrent usd pairs and judg about usd weakness or strongness ,usd is in the one side and the other side is that currency(olny we can do that in the US news realese i think).
another thing is ,usually other pairs follow the eurusd and not eurusd follows other pairs.i trade eurusd without looking at the other pairs ,knowing usually they follow the eu but when i want to trade gu i'll look at the eu as the key of the market.
  • #13,830
  • Apr 20, 2008 10:27am Apr 20, 2008 10:27am
Quoting taboouk
Hi Bshadroo,

I can completely relate to you on the emotion front. I think alot of people underestimate how much emotions can have an impact on your trading. I started using Phil's strategy on a demo account. In six months I increased the balance from 3000 to 12000.

I then decided that I will start trading live again ( I had already blown a live account before demo trading). But once I went live again, my emotions & fears overtook me. My results on the live account were nothing like the ones I got whilst demo trading. To me this was a clear case of emotions holding me back.

I am trying to keep my emotions in check & slowly this is happening. The support people give on this thread helps a great deal too.

Hope you have a good positive week next week. My advice to you will be not to start the week thinking that you HAVE to win back all that you have lost instantly. Stick to the rules & you will be fine.
thx
yes i could profit more than hundred pips after i reversed my long trade on eu but earnd just 12pips,then i got nervous and trade usdcad and....
i am one of the people who should shutdown the computer after his first loss in day.no other way to me ,i experienced it many times ,but this time i'll do that for sure
i like your advise in the last paragraf.
  • #13,831
  • Apr 20, 2008 6:25pm Apr 20, 2008 6:25pm
Quoting Fully Aware
By the way, my Metatrader crash when i load the template 4hmacd.tpl, do you have that kind of crash sometimes ?

Edit : Looks like it happens when i want to change the time from 4h to 1h or less
I think there were two version of the MACD v103 and one of them caused a few odd things to happen. Those were way back in the thread somewhere...
  • #13,832
  • Apr 20, 2008 8:16pm Apr 20, 2008 8:16pm
Here is written verson of Phillip's TC pattern, post 13766 on page 918
Attached File(s)
File Type: doc Trendcontin..doc   28 KB | 814 downloads
  • #13,833
  • Apr 20, 2008 9:25pm Apr 20, 2008 9:25pm
Quoting islandtrader
No, I never had a MT4 crash, I can copy the template to different platforms, and they work fine...
You may try this one, it uses MACD_Colored_v103 for 4hr charts (5,13,1) and MACD_Colored_v102 for 1hr charts (8,13,1)
How do you attach it to the MT4. Can you be specific? Thanks
  • #13,834
  • Apr 21, 2008 1:07am Apr 21, 2008 1:07am
Quoting Morelands
How do you attach it to the MT4. Can you be specific? Thanks
You're supposed to copy it to your ...\experts\indicators folder.
  • #13,835
  • Apr 21, 2008 2:42am Apr 21, 2008 2:42am
Looks like there was a 'lower high' signal back to the 200sma:
-MACD making lower high
-Stop loss 38, profit target 50, R 1:1.3
-signal candle close just below 2.000
-Rule: after price moved through the 200 it tends to test the 200/21

Between the higher high and the lower high is no nice valley, so no trade for me, what are your thoughts on this?
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 16 KB
  • #13,836
  • Apr 21, 2008 2:47am Apr 21, 2008 2:47am
Quoting islandtrader
Looks like there was a 'lower high' signal back to the 200sma:
-MACD making lower high
-Stop loss 38, profit target 50, R 1:1.3
-signal candle close just below 2.000
-Rule: after price moved through the 200 it tends to test the 200/21

Between the higher high and the lower high is no nice valley, so no trade for me, what are your thoughts on this?
Hi I was watching this the last couple of hours and I think the CT trade was fairly clear BUT the stop was too big so I didn't take it. By the way the key to me was the double top around the 20020 area.
  • #13,837
  • Apr 21, 2008 3:15am Apr 21, 2008 3:15am
Quoting islandtrader
Looks like there was a 'lower high' signal back to the 200sma:
-MACD making lower high
-Stop loss 38, profit target 50, R 1:1.3
-signal candle close just below 2.000
-Rule: after price moved through the 200 it tends to test the 200/21

Between the higher high and the lower high is no nice valley, so no trade for me, what are your thoughts on this?
Markets are always strange after the weekend.
After a bigpoint drop in cable I am hesitant to wait until 1100 CET until the candle is finished to maybe short it.
Actually right now there seems to be support around 1,9895-1,9880.

Trying a lower MACD high trade in EURJPY
  • #13,838
  • Apr 21, 2008 4:14am Apr 21, 2008 4:14am
I don't remember who I argue with in this thread that we wonder know which time has the highest volume in a day. I happen to find a function of MT4 that you can press ctrl+L to add the volume in your chart, just under your price, to oberserv which time is. I upload a 4h chart, you can see that 12:00 GMT+1 has the highest volume of a day, followed 8:00 and 16:00. From 4h chart that we can find the volumes in a day average form a triangle.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 30 KB
Plan your trades and trade your plans
  • #13,839
  • Apr 21, 2008 4:44am Apr 21, 2008 4:44am
Quoting saka
I don't remember who I argue with in this thread that we wonder know which time has the highest volume in a day. I happen to find a function of MT4 that you can press ctrl+L to add the volume in your chart, just under your price, to oberserv which time is. I upload a 4h chart, you can see that 12:00 GMT+1 has the highest volume of a day, followed 8:00 and 16:00. From 4h chart that we can find the volumes in a day average form a triangle.
Hi Saka that was with me. By the way there is no way to measure volume in the forex market. Just by the nature of the beast there is no central exchange so volumes are an unknown quantity. There are several indicators out there which try to do some sort of estimate.
  • #13,840
  • Apr 21, 2008 4:52am Apr 21, 2008 4:52am
Quoting brettboz
Hi Saka that was with me. By the way there is no way to measure volume in the forex market. Just by the nature of the beast there is no central exchange so volumes are an unknown quantity. There are several indicators out there which try to do some sort of estimate.
Bingo, there is definitely no use to watch volume in forex market

BTW, what a pity that I didn't take the lower high of GU 12:00 today.
Plan your trades and trade your plans
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