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4 Hour Strategy (MACD)

  • #14,401
  • May 7, 2008 1:53am May 7, 2008 1:53am
Quoting napeharm
Hey,KyleKim, sorry i missed your post yesterday altogether, i dont know how that happend!
Do you still want to change your platfrom or did you find your own way?
Hi napeharm!
Yes, I still want change it!
Could you please be so kind and help me?
I couldn't find it my own way.
  • #14,402
  • May 7, 2008 1:56am May 7, 2008 1:56am
GBP; exit confirmed. Perhaps three lots for this one then..........
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  • #14,403
  • May 7, 2008 1:57am May 7, 2008 1:57am
Quoting kylekim
Hi napeharm!
Yes, I still want change it!
Could you please be so kind and help me?
I couldn't find it my own way.
OK, i'll send you a PM and not clog up the thread.
  • #14,404
  • May 7, 2008 2:11am May 7, 2008 2:11am
Where is this going then?.......
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  • #14,405
  • May 7, 2008 2:12am May 7, 2008 2:12am
Quoting napeharm
GBP;Entering one pip below the daily pivot with two lots, taking one off at +30 and the other where i exited, there was +90 up for grabs.Nice.I think we can say that was begging to be traded then!
2 Lower highs with tails off the 21ema and a TC for a short. It was bedtime so I was in dreamland then but it was begging to be taken.
Well done
  • #14,406
  • May 7, 2008 2:16am May 7, 2008 2:16am
Quoting Phillip Nel
2 Lower highs with tails off the 21ema and a TC for a short. It was bedtime so I was in dreamland then but it was begging to be taken.
Well done
Thanks, three lots would have killed that one. One off at +30, the other where i exited +60 and then.........and +30 to my original trendline. How many pips was that....+180, if i have worked that out right.Perfect. Thanks for showing us that Phil.
  • #14,407
  • May 7, 2008 2:17am May 7, 2008 2:17am
Quoting Phillip Nel
2 Lower highs with tails off the 21ema and a TC for a short. It was bedtime so I was in dreamland then but it was begging to be taken.
Well done
Yes this trade was clear as daylight especially on the GMT+2. It was my sleeping time so no trade but has been one of the more well behaved and clear TC's I think I have seen for a while.
  • #14,408
  • May 7, 2008 2:18am May 7, 2008 2:18am
Hi all!

Could some body explain why we don't should buy here?

http://www.forexfactory.com/attachme...1&d=1210144845
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  • #14,409
  • May 7, 2008 2:19am May 7, 2008 2:19am
I did only take +30 from that with one lot, just to be clear, but i wanted to see what was there if traded spot on with two lots or three.
  • #14,410
  • May 7, 2008 2:38am May 7, 2008 2:38am
I should have choose GU, I am a little doubt signal formed at 4:00 GMT+1, I miss its 1h entry.
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Plan your trades and trade your plans
  • #14,411
  • May 7, 2008 2:39am May 7, 2008 2:39am
Quoting napeharm
I did only take +30 from that with one lot, just to be clear, but i wanted to see what was there if traded spot on with two lots or three.
Morning all - napaharm that was a real good trade, true to the rules and shows real patiences

Well done again
  • #14,412
  • May 7, 2008 2:50am May 7, 2008 2:50am
Thank you. Phil showed us how this trade worked last Monday. It was easier to see what he meant live rather than talking or reading about it. I missed the best entry today at the daily pivot, but because i knew it was a retracement trade, it did not seem to matter, more conviction there for the trade.
  • #14,413
  • May 7, 2008 2:58am May 7, 2008 2:58am
Quoting saka
I should have choose GU, I am a little doubt signal formed at 4:00 GMT+1, I miss its 1h entry.
You are not the only one. I missed that beautiful 1h tc too. I was not paying attention. Don't worry saka you're good trader. You can always catch the next one. I missed yesterdays gu tc too. So don't be too sadhttp://www.forexfactory.com/images/icons/icon9.gif.
Be http://www.forexfactory.com/images/icons/icon7.gif for the next one.
  • #14,414
  • May 7, 2008 2:59am May 7, 2008 2:59am
Lemyx; That looks to me a counter trend trade CT with a big stoploss.On my chart i have a 40sma, that is not part of the system but helps me, and the price target is very short. Possibly a 50% retracement trade was on there, i dont know. Other than that if you were able to take other trades during the day, then there would be no reason to take a risky one.Thats my view.
  • #14,415
  • May 7, 2008 3:06am May 7, 2008 3:06am
Its a shame the early GBP caught afew out today because of the timing issues. Perhaps a 5 min entry method would have got you in abit later, for smaller pips, but plenty there.
  • #14,416
  • May 7, 2008 3:07am May 7, 2008 3:07am
Quoting lemyx
Hi all!
Could some body explain why we don't should buy here?
Why not? I also estimated this setup among those several that formed yesterday on GBPUSD. My calculations were

Quote
Open price: 1.9760
SL Price: 1.9725, SL: 35 pips
TP price: 0.5/1.9775, 0.5/1.9795, TP: 25 (15, 35) pips
SINGLE OPENING.
R:R-ratio: 0.71.
Conclusion: trade is BAD either because of a big SL or poor R:R-ratio.
So with my SL and TP-s R:R was too bad. I also still have been in a long trade on EURUSD (and overtimed a part of it ), plus after breaking EMA21 upwards I was waiting for a price to retrace to it. So I didn't enter.

But there were "pros" for entering and with another targets and SL and maybe experience one might take that. Phillip for example did (if I understood his post correctly) - see post 14371
  • #14,417
  • May 7, 2008 3:18am May 7, 2008 3:18am
napeharm, thanks for your answer!

One more question.

I SOLD after the MACD signal and there were no any important levels below entry point. So, could we somehow filter this signal?

Should I enter in the opposite direction (or close opened positions) if the price will stay in place (because here will be a new signal)?

Thanks.
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  • #14,418
  • May 7, 2008 3:21am May 7, 2008 3:21am
Quoting kylekim
You are not the only one. I missed that beautiful 1h tc too. I was not paying attention. Don't worry saka you're good trader. You can always catch the next one. I missed yesterdays gu tc too. So don't be too sadhttp://www.forexfactory.com/images/icons/icon9.gif.
Be http://www.forexfactory.com/images/icons/icon7.gif for the next one.
When 4h candle approaching close. There are many things we should concern. Whether a pin bar formed? A 4h or a day's? Is this the point that a 5min rhythm has started already? Does it fit 4h rules? Are there any res/sup lines or MAs there? Is this pairs has already or is about to form a TC like today's? Are there any pairs that will form good TC at 4h or 1h, maybe that one will be the good one. Is there any important news about to release? How does it conflect FX market? What's my senario and my plan? etc.

Oh, There are so many things you should consider. I find that I have learned more and more during my trading, but still received more and more lessons from the market.

Today, Commerzbank of Germany which is its second largest bank released 54% profit writedown. I think this is same bad to eu, just like UBS, and GU has fallen already, I thought that this was a German bank, and eu definitely will worse than GU, then I choose eu's 5min trend.....

Wow, I had better list a chronologic when I anayse FX....
Plan your trades and trade your plans
  • #14,419
  • May 7, 2008 3:40am May 7, 2008 3:40am
Lemyx; It took me awhile to decide what you are doing here. I am very tired today!. You sold the Euro Yen, at the open of that big candle which has just gone up to the 89sma, if i see that correctly. Realistically, i dont see a sell signal there, its not enough of one. If in doubt, stay out.

I can only speak personally of how i trade and what i am comfortable with. I wish to trade from the low/high of the signal bar, this would have kept me out of that, also i use a 40sma which is just underneith it also,these things tell me its no trade as it stands. However my entry at the high or low of the signal bar and the use of the 40sma are not part of the system, they are what i find useful.
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  • #14,420
  • May 7, 2008 3:52am May 7, 2008 3:52am
Lemyx; If you are new to this, trade only the best set-ups and leave the rest until you have the method clearer in your mind. If there are any doubts in your mind, or the trade is difficult to read, like this one ,dont trade.
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