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4 Hour Strategy (MACD)

  • #14,501
  • May 8, 2008 3:05am May 8, 2008 3:05am
USDJPY; Channel and rhythm.
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  • #14,502
  • May 8, 2008 3:13am May 8, 2008 3:13am
USDJPY; Tweeked that top line alittle. It looks more useful there.
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  • #14,503
  • May 8, 2008 3:58am May 8, 2008 3:58am
Quoting brettboz
I have closed most of my trade out now and just hold 20% of the original trade.
Seems to happen that I manage to find perfect injunctions in the movement of price for getting out. I usually get out right before a huge move against or in favour of my trade. In todays case I got mostly out just before it bolts up (with my trade).

Last week I managed to get out just as it bolted against me.

Anyway the CT is currently up 80 pips.
  • #14,504
  • May 8, 2008 4:10am May 8, 2008 4:10am
Quoting napeharm
Thats a close up of the entries, i shall have to learn to use the fancy graphics stuff. I am not trading this pairing at present but will keep an eye on it.
I'm not sure why you were (theoretically) considering a u/j short, I thought it was more the question of anticipating a long in case the 4H MACD would show TC, supported by the daily at that time...
  • #14,505
  • May 8, 2008 4:26am May 8, 2008 4:26am
GBP; I have just come in. Nice entry on my GBP 5min at 1.9547.Good target on that trendline also. Not saying i would have taken it, i am feeling chilled today and have had a good week so i dont care.
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  • #14,506
  • May 8, 2008 4:46am May 8, 2008 4:46am
Quoting islandtrader
I'm not sure why you were (theoretically) considering a u/j short, I thought it was more the question of anticipating a long in case the 4H MACD would show TC, supported by the daily at that time...

Thanks for getting my mind looking at that trade again!. Now i see not one but two 50% retracements. Shown in the chart by the black lines.Nice. The second one was riskier but still on to the trendline or the 89 possibly.
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  • #14,507
  • May 8, 2008 4:49am May 8, 2008 4:49am
docdollar, why dont you ask Phil now what you asked in my PM from yesterday, and get the definitive answer?
  • #14,508
  • May 8, 2008 4:51am May 8, 2008 4:51am
Quoting napeharm
Thanks for getting my mind looking at that trade again!. Now i see not one but two 50% retracements. Shown in the chart by the black lines.Nice. The second one was riskier but still on to the trendline or the 89 possibly.
ok, I see the entries, but how would they have been supported by the MACD in the context of the 4HMACD system? maybe a ZB?
Thanks
  • #14,509
  • May 8, 2008 4:54am May 8, 2008 4:54am
Quoting Phillip Nel
Nothing on EurUsd and GbpUsd. Might have reach a point for some retracement.
Dear phillip >> I think there was a nice trade today .. have a look on the chart and pls comments

Thx
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  • #14,510
  • Edited 5:06am May 8, 2008 4:54am | Edited 5:06am
Quoting islandtrader
ok, I see the entries, but how would they have been supported by the MACD in the context of the 4HMACD system? maybe a ZB?
Thanks

I think there is something you are not getting here. There doesnt have to be some identifiable macd pattern as such, the macd is below the zero line, that is the signal, not the label of 'vb' or 'rb' and so on. If that is clearer.
  • #14,511
  • May 8, 2008 5:08am May 8, 2008 5:08am
Quoting napeharm
I think there is something you are not getting here. There doesnt have to be some identifiable signal macd pattern as such, the macd is below the zero line, that is the signal, not the label of 'vb' or 'rb' and so on. If that is clearer.
That is entering on price action and Fib retracements which is fine for the experienced trader but for the newby difficult to spot. That is why the MACD is part of the system that if it support the price action with certain signals as set out in the manual your chances are higher to be correct. We must remember there are people trading here that does not have years of experience. The main reason for the MACD system was to give people the oppertunity to learn a system that requires constant action on constant signals but not drain there account if you risk only 2-5% of your capital per trade.
Over time you will learn the finer stuff and when you see a certain motion of price you will know by years of experience this is a high probability trade. The new trader will not know that. Therefore I concentrate on the MACD and only TC, ZB and BOZ signals with candle emotion which is high probability trades.
There were a couple of trades today for the experienced trader but for the newby to be able to find his feet let us stick to the MACD signals confirming the price action.
Phillip
  • #14,512
  • May 8, 2008 5:12am May 8, 2008 5:12am
Quite so.These were not immediately spotted by myself either, but i wanted to tease them out for reference because the trade was not clear.Thinking aloud.
  • #14,513
  • May 8, 2008 5:14am May 8, 2008 5:14am
Quoting ammar2000a70
Dear phillip >> I think there was a nice trade today .. have a look on the chart and pls comments

Thx
Yes, but remember that RB trades are countertrend/move trades and have a higher risk as TC,ZB and BOZ. Money management is very important on a RB/RT trade. Just be very cautious when trading RT/RB
  • #14,514
  • May 8, 2008 5:58am May 8, 2008 5:58am
Quoting brettboz
Seems to happen that I manage to find perfect injunctions in the movement of price for getting out. I usually get out right before a huge move against or in favour of my trade. In todays case I got mostly out just before it bolts up (with my trade).

Last week I managed to get out just as it bolted against me.

Anyway the CT is currently up 80 pips.
Ive closed this trade before the interest rate decision and before the spreads widen.

Got a feeling it could go up more but not prepared to risk the 70 pips on the table.
  • #14,515
  • May 8, 2008 6:06am May 8, 2008 6:06am
hi all
this is how i see the usdcad chart.the daily TL is broken and price pulls back to the broken TL,can we sell if there is a TC signall in H4?
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  • #14,516
  • May 8, 2008 6:08am May 8, 2008 6:08am
Just to show you the trades done in the last 3 days not according to the 4H MACD system but purely on price action. It takes time, effort and studying market behaviour to be able to trade purely on price action.
Get the 4H MACD system going and by that I mean profitable over 30trades(about 3months of trading) so if your last 30trades shows a profit you are getting it otherwise you will have to study the Lessons on Rhythm again.
1. page 681 post 10212
2. page 742 post 11119
3. page 870 post 13038
Phillip
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  • #14,517
  • May 8, 2008 6:13am May 8, 2008 6:13am
I am now out of the market till Tuesday for a small holiday. I won't trade any more today even if a signal pops up and smacks me around the face. I have found previously that post interest rate decision hours can be quite volatile so prefer to stay out.
  • #14,518
  • May 8, 2008 6:19am May 8, 2008 6:19am
Quoting brettboz
I am now out of the market till Tuesday for a small holiday. I won't trade any more today even if a signal pops up and smacks me around the face. I have found previously that post interest rate decision hours can be quite volatile so prefer to stay out.
I also closed a GbpJpy trade(not according to 4H MACD) minutes before the rate announcement and will stay out for the time being.
  • #14,519
  • May 8, 2008 7:35am May 8, 2008 7:35am
Quoting Phillip Nel
I also closed a GbpJpy trade(not according to 4H MACD) minutes before the rate announcement and will stay out for the time being.

Hi Phillip,

What system do you use on the GBPJPY? Is it your 5 min system?

Thank you

Aftab
  • #14,520
  • May 8, 2008 7:57am May 8, 2008 7:57am
Quoting Phillip Nel
Just to show you the trades done in the last 3 days not according to the 4H MACD system but purely on price action. It takes time, effort and studying market behaviour to be able to trade purely on price action.
Get the 4H MACD system going and by that I mean profitable over 30trades(about 3months of trading) so if your last 30trades shows a profit you are getting it otherwise you will have to study the Lessons on Rhythm again.
1. page 681 post 10212
2. page 742 post 11119
3. page 870 post 13038
Phillip
Phillip, great trade!
I have a little question about this record,
I remembered that in your 5 min short-term strategy you said the maximum trades are 3, if 2 wins or loses you will stop trade in that day.

Why in the last 3 days, you take 3-4 trades everyday?
Do you have the new rules to the price action strategy?
Thanks.
Aihua
Rhythm, Motion, Emotion and Risk Reward.
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