Thanks Phillip for the MACD system it looks good, will paper trade it for a while. I hope you don't mind me asking? Where are you from ? South Africa? Myself , I'm in Jo'burg.
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DislikedI use VT platform does anyone have the setup for the MACD, there is no fast or slow EMA settings and if you set the MACD at 1 there are no lines to read. ThanksIgnored
DislikedKaar, he said he uses Mig, I assume the MIGFX demo feed as his basis, best to just get that and base your research on that accordingly.
And going from what he said he only trades the candles at 18:00 20:00 and 0:00 on Mig time?
Please confirm this Phil, as I would really be interested in hearing that this is indeed the time, as that coincides really well with my eveningIgnored
DislikedThanks Phillip for the MACD system it looks good, will paper trade it for a while. I hope you don't mind me asking? Where are you from ? South Africa? Myself , I'm in Jo'burg.Ignored
DislikedI use VT platform does anyone have the setup for the MACD, there is no fast or slow EMA settings and if you set the MACD at 1 there are no lines to read. ThanksIgnored
DislikedVery cool, thank you very much for posting this. I have a question.
1. How long do you usually hold a position??Ignored
DislikedPhillip,
For those of us who live in other parts of the world, I'm curious if you chose your 3 times to place trades because other time frames did not perform as well in back testing or if it was more a case of coinciding better with your work schedule.
Thanks for sharing your method.Ignored
DislikedHi Phillip,
I like your system. I will be forward testing it until I get a real feeling for the MACD. I have one question regarding your stops, though:
If the distance is less than 50 pips, and no S/R nearby, do you tend to put them at the low/high of the previous candle?
Thanks for your answer.
AlcastroIgnored
DislikedThat also depends on the profit targets. If I can only plan to manage 30 pips out of the deal I want my stoploss not to be greater than that. I sometimes even uses two candles back if the first one is a small candle.
Todays trade (post31) had entry at 1.2915 with stoploss at 1.2890 initially and the previous candles fell nice within that range.
I also takes profit in stages so that when a trade has run to the first S/R I like to get something in my pocket. I like to get to breakeven as soon as possible and the let the rest have its run.Ignored
DislikedHi Phil,
thanks for the idea, it really rocks.
Moreover, I would like to ask, if you check Cable during January 15, it seems, the MACD shows pretty overbought state (the value reads 0.007), however as you can see, entering this trade (in my system it looks like I would enter SHORT on 20:00 candle (MACD started to sink)), would not work out very good.
Now I am just thinking how would one filter this trade.
It seems SMA200 is pretty close, could that be the sign, that actual price difference between SMA200 and price is not that big, so the trend is not mature yet ?
Or do I see some kind of SHS in this MACD (in the time of potential trade, it would be only SH, right shoulder was about to be finished) ?
Or how would you proceed with this trade ?
Thanks a lot,
EndyIgnored