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4 Hour Strategy (MACD)

  • #13,841
  • Apr 21, 2008 3:28am Apr 21, 2008 3:28am
Hello everybody,
After listening to Phillip's pdfs and mp3 about the method I thought it would be easy to apply his strategy because it was very clear and easy explained, but in reality it has proved to be very hard at least for me.
So I tried to make a list with some of the most important rules in order to print and read it before trading because I seem to forget them when I look at the chart. I tried to establish the rules for the beginnig and ending of a trend, countertrend, range period and breakout. I know Phillip did lots of mp3 about them but I wanted to write it down myself to learn it better.
If some of the experiment traders or even Phillip (if they have time) may want to comment and add something else are very much welcomed.
Thank you very much and trade well!
Attached File(s)
File Type: doc Market Rhythm 4 Hour Strategy.doc   39 KB | 1,054 downloads
  • #13,842
  • Apr 21, 2008 5:22am Apr 21, 2008 5:22am
thanks luckytiger, indeed it's a good thing to be reminded of the rules on a regular basis, sometimes the mind just goes blank in the chaos of emotions
  • #13,843
  • Apr 21, 2008 8:34am Apr 21, 2008 8:34am
Quoting luckytiger
Hello everybody,
After listening to Phillip's pdfs and mp3 about the method I thought it would be easy to apply his strategy because it was very clear and easy explained, but in reality it has proved to be very hard at least for me.
So I tried to make a list with some of the most important rules in order to print and read it before trading because I seem to forget them when I look at the chart. I tried to establish the rules for the beginnig and ending of a trend, countertrend, range period and breakout. I know Phillip did lots of mp3 about them but I wanted to write it down myself to learn it better.
If some of the experiment traders or even Phillip (if they have time) may want to comment and add something else are very much welcomed.
Thank you very much and trade well!
Thank you for the document.
  • #13,844
  • Apr 21, 2008 10:02am Apr 21, 2008 10:02am
Quoting luckytiger
Hello everybody,
After listening to Phillip's pdfs and mp3 about the method I thought it would be easy to apply his strategy because it was very clear and easy explained, but in reality it has proved to be very hard at least for me.
So I tried to make a list with some of the most important rules in order to print and read it before trading because I seem to forget them when I look at the chart. I tried to establish the rules for the beginnig and ending of a trend, countertrend, range period and breakout. I know Phillip did lots of mp3 about them but I wanted to write it down myself to learn it better.
If some of the experiment traders or even Phillip (if they have time) may want to comment and add something else are very much welcomed.
Thank you very much and trade well!
You surely knows the system rules. If you apply them you will be successfull. the only thing now is to start to recognise the price motion approaching high probability trades. I will try to add some graphs to your document and put it on page one of the thread.
Thanks
Phillip
  • #13,845
  • Apr 21, 2008 10:33am Apr 21, 2008 10:33am
hi phil,
awesome job wid ur indicators..but i hve been backtesting it..and it seems MACD bars gets retraced i.e. the length and sometimes their position(above 0 or below 0) keeps on changing...am wondering wat do u hve to say..since ur entry is mostly based on MACD bars....thanks.
  • #13,846
  • Apr 21, 2008 11:02am Apr 21, 2008 11:02am
Hi Roger
I think you need a new keyboard.
  • #13,847
  • Apr 21, 2008 11:26am Apr 21, 2008 11:26am
Quoting Hired Goon
Hi Roger
I think you need a new keyboard.
nice one..but try explaining my question GOON
  • #13,848
  • Apr 21, 2008 12:11pm Apr 21, 2008 12:11pm
Roger
The MACD is very visual and as its the only indicator, other than the MA's, its easy to concentrate too much on it. The important factor to this stratagy is price actions and the way it dances around the MA's. The MACD is the confirming indicator. It takes a fair bit of learning so I'm no expert.
Maybe your keys are sticky
  • #13,849
  • Apr 21, 2008 12:59pm Apr 21, 2008 12:59pm
I don't know if you also trade the other pairs like I do, but I see a nice Long set-up in NZDUSD.
Closes above 89 and 365MAvgs
200MAvg was resistance but now it's rising again.
We may get a TC signal at 11CET

(my datafeed is all from Tradestation, so there may be discrepancies with your software)

Till
  • #13,850
  • Apr 21, 2008 1:04pm Apr 21, 2008 1:04pm
Quoting Hired Goon
Roger
The MACD is very visual and as its the only indicator, other than the MA's, its easy to concentrate too much on it. The important factor to this stratagy is price actions and the way it dances around the MA's. The MACD is the confirming indicator. It takes a fair bit of learning so I'm no expert.
Maybe your keys are sticky
hmm goon...so u consider MACD as confirmation...even when its changing its value constantly...???
  • #13,851
  • Apr 21, 2008 2:06pm Apr 21, 2008 2:06pm
Quoting roger0078200
hmm goon...so u consider MACD as confirmation...even when its changing its value constantly...???
Hi Roger,

The confirmation is achieved by the pattern that the MACD forms rather than the value of the current MACD bar. The confirmation is taken on the close of the 4Hr bar & not midway through the 4Hr bar, as it will be constantly changing until it closes.

I hope this makes things a little clearer. If I am wrong in this reply, then someone please feel free to correct me.

Aftab
  • #13,852
  • Apr 21, 2008 4:07pm Apr 21, 2008 4:07pm
The Pound is finding support on the top of the TL it broke out of last week.
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  • #13,853
  • Apr 21, 2008 6:23pm Apr 21, 2008 6:23pm
Hey everyone:

Just a few notes here. Hope everyone has bee n bagging some pips here and there and welcome to all of the new faces. Just in case, there's a website for Phillip's 4 Hour strategy at http://www.fxtradeblog.com
I think one of the most useful tool on there are the charts for the 4hour and 1hour EURSUSD for all of 2007 with the indicators on them. It's a good idea to print those out and make notes all over them. You can find them in the Tools link.

Where have I been? Why aren't I posted very often? What am I up to?
I'm still installing my new floors and doing a few other things with the house here. I've been spending a lot of 'study time' 'experimental time', etc. on the 5min charts with Philip's thread. Haven't been posting a lot there either, just getting a lot of chart time in when I can, mostly on the 5min. I've been looking for a long time for an easy and reliable 5min method, and I feel this is it. I added the ADX for a filter and it seems to hold true. Anyway, I'm confident enough that with the few weeks of leave that I'll be taking in June, I'll be trading the 5min NY morning session and any other time that I will have. This is all part of my plan for eventually considering working part time and trading the other 'part time' as my income. Then at some point trading full time somewhere down the road. So, I've been focusing a lot on the leverage aspect of things, the high probability set-ups, etc. There's a lot for me to consider with all of this so it takes a lot of focus to see through it all. Especially when you are a single one income mortgage payer.

I haven't abandoned this thread or the 4 Hour method at all. I can assure you that I am here for the long run. But, when 'you're on to something' you tend to follow up on it and focus on just that, at least I do. So, that's pretty much what I've been doing for the last month or so with the 5min. Once I get all the kinks worked out with that I'll be back here full swing. I just have to make sure that all of the ducks are in a row, lot going on here.

I still plan on adding the 1hour entry examples to the website and even adding Phillip's 5min info. I haven't posted anything to that forum in a while either, been too freakin' busy and it's hard to find somewhere to sit in my house that doesn't have and inch of primer dust, saw dust, sheet rock dust, or plain old dust on it. I'll get there.....

I'll be around,
Palmer
  • #13,854
  • Apr 21, 2008 6:43pm Apr 21, 2008 6:43pm
Nice to hear from you Palmer!!

Any news from Donna?

Good Luck
Mike
Failure, is a wonderful teacher!
  • #13,855
  • Apr 21, 2008 8:44pm Apr 21, 2008 8:44pm
Quoting luckytiger
Hello everybody,
After listening to Phillip's pdfs and mp3 about the method I thought it would be easy to apply his strategy because it was very clear and easy explained, but in reality it has proved to be very hard at least for me.
So I tried to make a list with some of the most important rules in order to print and read it before trading because I seem to forget them when I look at the chart. I tried to establish the rules for the beginnig and ending of a trend, countertrend, range period and breakout. I know Phillip did lots of mp3 about them but I wanted to write it down myself to learn it better.
If some of the experiment traders or even Phillip (if they have time) may want to comment and add something else are very much welcomed.
Thank you very much and trade well!
Good document. Congratulations. If you know when a trend is starting and you know when the trend is ending... just let your profits to run... If you believe a trend is starting, just hold your position as longer as you can. In summary, a trend starts when 8,21 and 89 fan out in proper order... by the way, check USDCHF... MAs are almost together...

A.
  • #13,856
  • Apr 22, 2008 12:45am Apr 22, 2008 12:45am
USDCHF 4h came back down to its old channel
support both @ 89 & 200 MAvgs
we have a very minor Hammer candle at the last bar

Thinking about a Long trade!????
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  • #13,857
  • Apr 22, 2008 12:47am Apr 22, 2008 12:47am
Quoting RemingtonTJ
USDCHF 4h came back down to its old channel
support both @ 89 & 200 MAvgs
we have a very minor Hammer candle at the last bar

Thinking about a Long trade!????
Similar candle situation is developing in EURCHF
  • #13,858
  • Apr 22, 2008 12:49am Apr 22, 2008 12:49am
Going short AUDUSD after a lower MACD high
  • #13,859
  • Apr 22, 2008 2:55am Apr 22, 2008 2:55am
GBP/USD
- VT at 12:00 candle close (GMT+2)
- nice bounce from trend line, but the tails of the previous 3 candles were suggesting further down move, 89 acted as support, becoming resistance
- current candle may close below 21 and large stop loss of ~100 pips

no trade for me
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  • #13,860
  • Apr 22, 2008 4:46am Apr 22, 2008 4:46am
Well my chart looked much better but price started a zigzag move after my entry and I just could get breakeven.
Maybe in next.
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