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4 Hour Strategy (MACD)

  • #14,301
  • May 6, 2008 1:44am May 6, 2008 1:44am
Quoting napeharm
Cheers saka, thats what i wanted to see, we looking at differant stuff on our charts.
Do you use Metatrade version 4.00 from www.metaqutoes.net? I remeber both Phillip and I use this chart to watch market, though I use other platform to set my postion from my borker.

1 TP has reached. set remainder @ BE
Plan your trades and trade your plans
  • #14,302
  • May 6, 2008 1:47am May 6, 2008 1:47am
I got mine straight from Alpari, its set at GMT i think.
  • #14,303
  • May 6, 2008 1:49am May 6, 2008 1:49am
Quoting saka
Philip. I also entered for TC of GU. But I set SL @ 1.9755 which is the previous candle's high. Why do you detemine to set it @ 1.9763?
I set it at 63 which is 30 above entry price and enough above the previouse 2 candle highs. I enterd on a retacement
  • #14,304
  • May 6, 2008 1:49am May 6, 2008 1:49am
I am plotting this as a good exit on GBP at around 1.9655.We will see.
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  • #14,305
  • May 6, 2008 1:51am May 6, 2008 1:51am
You had better use same platform with Phillip from which he paper traded his strategy two years. Thus you can see what Phillip also see right now.
Plan your trades and trade your plans
  • #14,306
  • May 6, 2008 1:55am May 6, 2008 1:55am
I will download one later saka and take a look and see how it is, thanks for the tip.
  • #14,307
  • May 6, 2008 1:56am May 6, 2008 1:56am
Quoting Phillip Nel
I set it at 63 which is 30 above entry price and enough above the previouse 2 candle highs. I enterd on a retacement
Mature trader, I enter at 8:00, suffered from its retracement. You choose a better time to enter
Plan your trades and trade your plans
  • #14,308
  • May 6, 2008 2:02am May 6, 2008 2:02am
I am going to the beach. Will be back for the 12:00 candle.
  • #14,309
  • May 6, 2008 2:08am May 6, 2008 2:08am
So that might be some slight differences in quotations from different brokers (MT servers from which our terminals download data) that couse these differences.

But for me the conclusion is different (and Phillip I guess would say the same) - that the real reason why I missed this trade and the one on EURUSD (TC on 29/04/08) is not because MACD didn't show a vivid signal but because of a) lack of market feeling - one should see a possible trade only by chart, without MACD, that only comes with experience and b) lack of confidence in the system - I really admire how Phillip believes in the system which can be noticed both in his mp3-commentations and in results.

But I'm only at the beginning of the way. So no MACD signal - no trade, no profit but no loss.

P.S. 2napeharm - I'm also using Alpari.
Attached Image
  • #14,310
  • May 6, 2008 2:09am May 6, 2008 2:09am
I am out at 1.9690 for +24 with one lot.
  • #14,311
  • May 6, 2008 2:11am May 6, 2008 2:11am
wow, such a pity,
I am watching GBPUSD,
but my platform missed a TC signal by several pips,
and the mig data give a TC signal,
It seems that I must turn to MIG for data service
Success is the small sum of efforts, repeated day in and day out.
  • #14,312
  • May 6, 2008 2:15am May 6, 2008 2:15am
A half decent 5 min method would have picked up the entry for this with or without the 4hr macd anyway, later than the retracement entry though.so perhaps invest in one.
  • #14,313
  • May 6, 2008 2:35am May 6, 2008 2:35am
Quoting saka
Do you use Metatrade version 4.00 from www.metaqutoes.net? I remeber both Phillip and I use this chart to watch market, though I use other platform to set my postion from my borker.

1 TP has reached. set remainder @ BE
Hi, Saka, thanks for the information. I downloaded the setup file, when I install it, it defaultly choose the same subdirectory where I had installed the other MT4 from Interbank. My question is: if I just set a new subdirectory, it will be OK, Or it will anyway be in conflict with my current MT4.

Thanks a lot
Macalmd
  • #14,314
  • May 6, 2008 2:42am May 6, 2008 2:42am
Quoting macalmd
Hi, Saka, thanks for the information. I downloaded the setup file, when I install it, it defaultly choose the same subdirectory where I had installed the other MT4 from Interbank. My question is: if I just set a new subdirectory, it will be OK, Or it will anyway be in conflict with my current MT4.

Thanks a lot
Macalmd
I think the terminal from www.metaquotes.net is not OK,
I use the terminal from www.metaquotes.net,
but there was not a TC,
but if you open MIG terminal,
you would see it on the chart.

you could find mig terminal on http://www.migfx.ch/
Success is the small sum of efforts, repeated day in and day out.
  • #14,315
  • May 6, 2008 2:46am May 6, 2008 2:46am
Quoting dhalsim
I think the terminal from www.metaquotes.net is not OK,
I use the terminal from www.metaquotes.net,
but there was not a TC,
but if you open MIG terminal,
you would see it on the chart.

you could find mig terminal on http://www.migfx.ch/
Thanks for the additional information. You mean I need to open a demo account with MIG? How long a demo account will last? one month or longer?
  • #14,316
  • May 6, 2008 2:48am May 6, 2008 2:48am
Quoting macalmd
Hi, Saka, thanks for the information. I downloaded the setup file, when I install it, it defaultly choose the same subdirectory where I had installed the other MT4 from Interbank. My question is: if I just set a new subdirectory, it will be OK, Or it will anyway be in conflict with my current MT4.

Thanks a lot
Macalmd
Sorry, I don't know, But I think you should set your sevice with MIG-Demo - MIG Investments SA, then you can have same data from me.
Plan your trades and trade your plans
  • #14,317
  • Edited 3:22am May 6, 2008 3:12am | Edited 3:22am
Quoting Morelands
Maxster,
Here is my version from what I can tell of the proper fib placements. However, I have some questions...1) Bo used the daily fibs as market directions. Does that mean that we are in an up trend with the EUR and I should only look to trade that way for now? 2) I believe the intraday can last greater than 24 hours if the fib levels are not broken, correct? Are the swing (in gray) correct?
It is really not about fibs - it is about understanding the price movement and how price flows.

I have included my daily chart below. If you can clearly see this movement of price going from trending to corrective where to draw the fibs is very very simple.

Look at the daily and where I circled the S/R points. In terms of the daily chart price is still in a corrective cycle or movement. Because we trade from the 4H/1H timeframe you look to the daily and see how price react to its S/R levels and plan trade directions that are in tuned with how price react with the S/R levels. Not simply saying trend is up because price is above 89 so we only go long - that only works when price is trending once price enters a corrective movement you need more understanding.

With the EUR at this point price tested the low around 1.5450 of the corrective channel on Friday and have bounced trended up till this morning - 1.5550 is an important S/R level and those levels was established back in mid Mar (purple swing). Until price decides which way to go we may see some ranging start happening.

What you see on that daily chart plays out on the 1H chart - trending move then corrective move.

Then those same movements occur on the lower 15M timeframe - trending move then pullback. This is basically Phillip's TC rhythm. Once you see enough of this price gets real clear. Don't concern yourself with entries and exits in the beginning - concentrate on seeing this movement or flow. The entries and exits will come to you on its own.

Hope that helps.
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  • #14,318
  • May 6, 2008 3:13am May 6, 2008 3:13am
Quoting macalmd
Thanks for the additional information. You mean I need to open a demo account with MIG? How long a demo account will last? one month or longer?
yes, you need a new domo with MIG,
It would last 3 months or so.
when you fill the blanks, your computer would remember what you fill,
then you open demo next time,
you just click next, and that is OK.

Dhalsim
Success is the small sum of efforts, repeated day in and day out.
  • #14,319
  • May 6, 2008 3:23am May 6, 2008 3:23am
A better way for everyone would be if one of you guys posted or emailed the 'config' file from your MIG platform folder. That has the server details in it and no need to download a new platform, just copy the file into your own. No need to renew the platform after 3 months either.
  • #14,320
  • May 6, 2008 3:25am May 6, 2008 3:25am
GBP being very naughty around 690, glad i exited there.
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