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4 Hour Strategy (MACD)

  • #14,561
  • May 9, 2008 5:34am May 9, 2008 5:34am
Quoting napeharm
Great stuff saka. You are a modest person and successful, i like that!
Thanks, wish you make lots of pips
Plan your trades and trade your plans
  • #14,562
  • Edited 8:22am May 9, 2008 5:36am | Edited 8:22am
Quoting saka
As to profit target like this case. The previous 4h canle has form a tail down. You can also see gu has faced a support line which is 1.9500 these 4hs. I think risk management in a right way can prevent us from big losing. Phillip always set 1 tp as 25 pips, if the risk is bigger, he will set 20 pips, then set the other BE and trailing stop. I definitely have set 1 tp 25pips and when pirce went to this level. I thought that this would be a big trend and set 1tp bigger, then price went back and touched my sl. So I think that conservative is more better in this market.

Yes, nicely put. Phil expressed in an mp3 once how people were turning gains of +25 into losses by going for the big runs. There will not be such runs everyday. We need to be aware that each day is differant, and be sensitive to what the market is telling us. Also, if you have only one lot, which is what i am trading, +25 or near it is great. More is a bonus. +25 per day doesnt sound much but that is +500 for a month, and if is done safely and without loss that is a great result.
  • #14,563
  • May 9, 2008 5:37am May 9, 2008 5:37am
Quoting islandtrader
Great trade saka, I can learn a lot from your example... I didn't think of just targeting the recent lows which would have given a decent 20 pips +...
well, still learning something by watching you guys and of course the price rhythm.
I am still learning now, and I still have lots of bad habits. There are lots of people here grasp this method very well. So just focus on the rhythm and draw important trend line, find which price motion is right one, you can make lots of pips
Plan your trades and trade your plans
  • #14,564
  • May 9, 2008 5:43am May 9, 2008 5:43am
I use 5min strategy as an asisitant method with 4h to decide which time to set remainder trailing st after BE. Maybe I should set it when price goes back to the war zone, not on the point where is a big bearish bar....
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Plan your trades and trade your plans
  • #14,565
  • May 9, 2008 5:47am May 9, 2008 5:47am
Quoting napeharm
Yes, nicely put. Phil expressed in an mp3 once how people were turning gains of +25 into losses by going for the big runs. There will not be such runs everyday. We need to be aware that each day is differant, and be sensitive to what the market is telling us. Also, if you have only one lot, which is what i am trading, +25 or near it is great. More is a bonus. +25 per day doesnt sound much but that is +600 for a month, and if is done safely and without loss that is a great result.
So, I think that 2 lots is a little few. 3 lots will make you get more profit if you set proper management I think.
Plan your trades and trade your plans
  • #14,566
  • May 9, 2008 5:47am May 9, 2008 5:47am
I dont follow Phils 5 min method, so i cant suggest anything there.
  • #14,567
  • May 9, 2008 5:49am May 9, 2008 5:49am
Quoting saka
So, I think that 2 lots is a little few. 3 lots will make you get more profit if you set proper management I think.
Hey!, lets not get greedy.........! 1 lot of +25 a day everyday will suit me. I have lots of challenges ahead yet, using real money again using this method for one! I am taking it verrrryyy ssssllloooowwllllyy.........1 lot will be enough for me.Of course everyone needs to rationalise their own money management.
  • #14,568
  • May 9, 2008 5:55am May 9, 2008 5:55am
Quoting napeharm
Hey!, lets not get greedy.........! 1 lot of +25 a day everyday will suit me. I have lots of challenges ahead yet, using real money again using this method for one! I am taking it verrrryyy ssssllloooowwllllyy.........1 lot will be enough for me.Of course everyone needs to rationalise their own money management.
LOL, absolutely pal. I have to go home and set remainder 20 pips trailing sl, tp is near daily pp S2 which is 1.9435. Hope I can make pips as many as better
Plan your trades and trade your plans
  • #14,569
  • May 9, 2008 6:04am May 9, 2008 6:04am
Quoting saka
LOL, absolutely pal. I have to go home and set remainder 20 pips trailing sl, tp is near daily pp S2 which is 1.9435. Hope I can make pips as many as better

The great thing about this method though is 'knowing' that you will make those pips every month, and this means no pressure to gain them, no rush, taking it easy, no looking for trades, knowing that its all there.Thats what the system gives us.( We all have our demons, lets slay them one at a time!)
  • #14,570
  • May 9, 2008 6:23am May 9, 2008 6:23am
I was down to the beach so got back a bit late so I missed the GbpUsd TC short signal. The 1st TP was the low of the previous tail and a 25trailing stop on the 2nd.
EurUsd did go to top TL as I expected. I still anticipate a breakout to the top. Dont be surprised if they do it late today.

Well done to those that took the GbpUsd. That tail was a bit worried I suppose but it did work out.
  • #14,571
  • Edited 6:37am May 9, 2008 6:26am | Edited 6:37am
Quoting Phillip Nel
I was down to the beach so got back a bit late so I missed the GbpUsd TC short signal. The 1st TP was the low of the previous tail and a 25trailing stop on the 2nd.
EurUsd did go to top TL as I expected. I still anticipate a breakout to the top. Dont be surprised if they do it late today.

Well done to those that took the GbpUsd. That tail was a bit worried I suppose but it did work out.
Thanks Phil. I was still cautious about the GBP though, is there anything which would convince me further to take the trade, other than belief in the system?
  • #14,572
  • May 9, 2008 6:26am May 9, 2008 6:26am
ya allah
hi traders
  • #14,573
  • May 9, 2008 6:37am May 9, 2008 6:37am
Quoting Phillip Nel
I was down to the beach so got back a bit late so I missed the GbpUsd TC short signal. The 1st TP was the low of the previous tail and a 25trailing stop on the 2nd.
EurUsd did go to top TL as I expected. I still anticipate a breakout to the top. Dont be surprised if they do it late today.

Well done to those that took the GbpUsd. That tail was a bit worried I suppose but it did work out.
Phillip was that trade on the gby usd enterd on what you saw on the hour chart?
  • #14,574
  • May 9, 2008 6:37am May 9, 2008 6:37am
Quoting macalmd
Thanks a lot. Anyway, it seems to me that the chart in "fxstreet" does not have 4H chart. The points is that we depend on 4H signal, my broker offers the chart of GMT-1, which looks different from the chart of GMT.
Dear Macalmd

We do have now 4H chart at FXstreet.com

http://www.fxstreet.com/rates-charts/forex-charts/

Best regards

Francesc
  • #14,575
  • May 9, 2008 6:58am May 9, 2008 6:58am
Quoting feodras
Phillip was that trade on the gby usd enterd on what you saw on the hour chart?

12:00 4Hour candle close giving TC
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  • #14,576
  • May 9, 2008 6:59am May 9, 2008 6:59am
Quoting napeharm
Thanks Phil. I was still cautious about the GBP though, is there anything which would convince me further to take the trade, other than belief in the system?

Thats ok, i have figured it out myself, the GBP has a two bar low i hadnt seen that earlier......a break of that implies further moves. We shall see. (Its all so obvious after!)
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  • #14,577
  • May 9, 2008 7:24am May 9, 2008 7:24am
a nice breakout trade example for eurchf
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  • #14,578
  • May 9, 2008 7:45am May 9, 2008 7:45am
GBP; looking pip perfect right now on my charts. We will see it it stays that way.
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  • #14,579
  • May 9, 2008 8:23am May 9, 2008 8:23am
Quoting Phillip Nel
Thanks. It surely shows that you understand priceaction as well. We must just be cautious for the new ones coming in for the first time and are new in forex as well for they are going to try and analyse this trade according to the 1H/4H MACD system and they might get confused. I think we must not post trades on lower timeframes less than 1H.
When we post a 1H early entry I ask that we post the 4H chart as well giving some explanation as well as to how the 1H supports the 4H entry.
Thanks for the understanding as this is not to say you were wrong at all but just to protect some of the new ones to Forex.
Thanks
Phillip
I will be more selective as to which trades I will post in the future as the new ones will be confused. And the trade is very indeed against the 4H movement in terms of the MAs but in tuned with the 1H MAs.

I mainly elected to show this trade because of the beautiful price rounding on the 1H and it is basically what we should be looking for in all TC trades regardless of timeframe - this one is picture perfect. Like Phillip points out price action is the key to making your trading easier.
  • #14,580
  • May 9, 2008 8:25am May 9, 2008 8:25am
(I posted +25 per day as 600 a month, yeah right!, its obviously not, i have corrected that.)
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