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4 Hour Strategy (MACD)

  • #15,241
  • Jun 1, 2008 8:39am Jun 1, 2008 8:39am
Hey everyone!

Good to see that things are still very busy here in this thread. More proof that Phillip's method is a very solid trading approach. For the past several months I have been absorbing Phillip's 5 min method which has proved just as solid as the 4 hour method. If you have the time, I strongly urge you to check out that thread if you have that window to trade. I will be adding that to the website soon as well. I'm in the process of reintegrating myself back here and limiting my posting on the 5 min thread. I'll drop by there every once in a while but I believe I am 'good to go' with the 5min entries. Always put in the study time for whatever method/system you trade. I'm looking forward to coming back home here and getting to know all of the new faces.

Trade well...
  • #15,242
  • Jun 1, 2008 11:22am Jun 1, 2008 11:22am
Quoting Palmer
Hey everyone!

Good to see that things are still very busy here in this thread. More proof that Phillip's method is a very solid trading approach. For the past several months I have been absorbing Phillip's 5 min method which has proved just as solid as the 4 hour method. If you have the time, I strongly urge you to check out that thread if you have that window to trade. I will be adding that to the website soon as well. I'm in the process of reintegrating myself back here and limiting my posting on the 5 min thread. I'll drop by there every once in a while but I believe I am 'good to go' with the 5min entries. Always put in the study time for whatever method/system you trade. I'm looking forward to coming back home here and getting to know all of the new faces.

Trade well...
hey
nice to see u here again,i was starting to worry about u thinking with myself 'oh, we miss another good trader after missing dona' ,here ,but thanks ur still here.
and.. eu is behaving just like when it was preparing to break 1.5 level ,kind of range or possible traingle... before break out, and maybe this time it wants to break 1.6,whats ur oponion?r u planing to enter another longterm buy in eu?
  • #15,243
  • Jun 1, 2008 11:56am Jun 1, 2008 11:56am
hey bsh!!!

Hmmm, I'm thinking out loud here from a fundamental perspective of things. There's been some talk that the oil market may have peaked and that the Fed is done dropping rates. This may actually boost the $ for the time being or at least keep it rangebound. I've got the EU bouncing off the uptrend line heading back up to the 21 which is real close to the 89 as well. My thoughts are that we may be stuck in this triangle for a while. All of the moving averages are within 'about' 100 pips of each other = congestion. As always,I'll be watching the 1hr for any 'hints' of a move...
Attached Image
  • #15,244
  • Jun 2, 2008 3:44am Jun 2, 2008 3:44am
GBP; Level line and trendline working well then. More 5 mins trading here for me.
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  • #15,245
  • Jun 2, 2008 3:51am Jun 2, 2008 3:51am
Hallo everyone in this thread!

It is difficult for me to say all what I want in English, therefore, just THANK YOU for your work here!

Long time I follow the thread because it is very near to my trading style. But like many others I have any questions. Today we had gaps in GBP and JPY (at least on my platform). What do you do in these cases? I was just beside. In GBP we had TC, test of 21 EMA, but because of the gap, the 200 ma and the long range I havn't do nothing. Any comments, please?
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  • #15,246
  • Jun 2, 2008 4:07am Jun 2, 2008 4:07am
Quoting Happy68
Hallo everyone in this thread!

It is difficult for me to say all what I want in English, therefore, just THANK YOU for your work here!

Long time I follow the thread because it is very near to my trading style. But like many others I have any questions. Today we had gaps in GBP and JPY (at least on my platform). What do you do in these cases? I was just beside. In GBP we had TC, test of 21 EMA, but because of the gap, the 200 ma and the long range I havn't do nothing. Any comments, please?
Some general advice for you really. Firstly, most of us here use the MIG version of mt4. That way we are looking at the same candles and charts as Phil, and this makes life alot simpler for all of us. That might be a good idea for you also.

Secondly, you are right about the gap down. This is likely to be misleading and we stay away from them.

Thirdly, your lower trendline needs to be re drawn. It needs to be much lower as you can see in my chart.

Fourthly, you are right, the 200sma is providing support here and we need to be careful. On my charts there is no signal i would have taken on 4hrs. I have traded the GBP fall on a smaller time frame today.

Be patient and the market will come to you and the system will provide good signals.
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  • #15,247
  • Jun 2, 2008 4:18am Jun 2, 2008 4:18am
Thank you, napeharm!
  • #15,248
  • Jun 2, 2008 6:26am Jun 2, 2008 6:26am
I ran across this ebook that I hope Phillip put up but it does not contain his name anywhere.
http://4exnews.com/services/free-stu...-download.html
  • #15,249
  • Jun 2, 2008 7:25am Jun 2, 2008 7:25am
kdmezzo:

Thanks for posting this. Phillip's method is copyrighted but since it is not for sale even on www.fxtradeblog.com I'm not sure of the legalities of it being downloaded for free from another site. I'll check this out...thanks.
  • #15,250
  • Jun 2, 2008 8:56am Jun 2, 2008 8:56am
Hello,
Can anybody tell Where i can download MIG platform? is it possible to use it without real account?
Thnx in advance.
  • #15,251
  • Edited 10:19am Jun 2, 2008 9:11am | Edited 10:19am
Will close 50% after 25pips and set remainder to -25 Stoploss
Network very slow

Edit
Just got home from work. 50% closed for +25pips and remainder closed for -25pips

Total gain ZERO.

I had that feeling that we might see a pullback when the move was very quick for the first 25pips therefore my decision to set remainder to -25 to give it a chance. Our network at work was very slow so I had no idea of news but trusted the MACD TC.

I got out BE
Attached Image (click to enlarge)
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  • #15,252
  • Jun 2, 2008 9:18am Jun 2, 2008 9:18am
I took a CT on GBP/USD today.

On the 4H the MACD had gone into the over sold area and on the 1H we got a close above the very short term trend line down. As the 1H candle closed the news came out and initially pushed price down and at the same time spreads widened. I waited till spread came back to normal and as soon as they did I entered the trade.

My target was 25 pips as my stop had reduced the risk on the trade I decided to also reduce the target just in case.

Price moved up to touch the TP within 17 mins of taking the trade and I'm out now although the CT could obviously move a lot more if it wants too.....
  • #15,253
  • Jun 2, 2008 9:18am Jun 2, 2008 9:18am
Quoting Phillip Nel
Will close 50% after 25pips and set remainder to -25 Stoploss
Network very slow
could be risky,price is on the daily TL
  • #15,254
  • Jun 2, 2008 9:51am Jun 2, 2008 9:51am
Hi everybody...
On MIG platform, there was a EUR/USD TC signal after the close of the 12:00 candle. It was a good signal I think, because price was off the 21EMA, although I was cautious of the 365EMA. However, US ISM was due to release at 16:00. So, I stayed out.
The price went down several pips confirming the TC signal at first, but the price has been moving up again, forming a spinner. I would consider that the previous TC signal was invalid.
My question is, how do we trade a signal around news releases?
Would it be better for us to stay out?
  • #15,255
  • Jun 2, 2008 10:25am Jun 2, 2008 10:25am
Please refer to the following from your message:

BEFORE GOING ANY FURTHER, PLEASE GO TO PAGE 681 POST 10212 AND PAGE 870 POST 13038 AS WELL AS PAGE 742 POST 11119 AND LISTEN TO "THE HEART OF THIS SYSTEM" AND SAVE THAT GRAPH. THEN GO TO PAGE 289-290 POST 4335 AND STUDY THOSE 13 LESSONS BY HEART. THEN START AT THE BEGINNING AND ESPECIALLY THE LIST OF INFORMATION BELOW.

I am unable to locate the link to be able to read the 13 lessons or listen to the heart of the systems. Could you please send me the link to this?

Thanks,

Krishnan
  • #15,256
  • Jun 2, 2008 10:42am Jun 2, 2008 10:42am
Quoting Phillip Nel
Total gain ZERO.

I had that feeling that we might see a pullback when the move was very quick for the first 25pips therefore my decision to set remainder to -25 to give it a chance. Our network at work was very slow so I had no idea of news but trusted the MACD TC.

I got out BE
Phillip, pay more attension that 365ema of 4h and 89sma of daily chart are convergence. And another main MAs are up there, I agree with Plamer that eu will be in a consolidation period. At least, this is a banlance point. we should wait for clear signals appear.
Plan your trades and trade your plans
  • #15,257
  • Jun 2, 2008 10:49am Jun 2, 2008 10:49am
Quoting Krishnan
Please refer to the following from your message:

BEFORE GOING ANY FURTHER, PLEASE GO TO PAGE 681 POST 10212 AND PAGE 870 POST 13038 AS WELL AS PAGE 742 POST 11119 AND LISTEN TO "THE HEART OF THIS SYSTEM" AND SAVE THAT GRAPH. THEN GO TO PAGE 289-290 POST 4335 AND STUDY THOSE 13 LESSONS BY HEART. THEN START AT THE BEGINNING AND ESPECIALLY THE LIST OF INFORMATION BELOW.

I am unable to locate the link to be able to read the 13 lessons or listen to the heart of the systems. Could you please send me the link to this?

Thanks,

Krishnan
Krishnan, --Those page and post numbers are valid. I just checked them. The quickest and easiest way to find them is to go to the bottom of whatever page you are on and find the small window that shows what the current page number is. There is a down arrow to the right of the current page number. Click on that arrow. A small window will open where you can enter the page number you want to go to. When you get to the correct page, scroll to the post number listed. Another way is to go to http://www.fxtradeblog.com. The lessons and method are all there available for downloading. Good luck! --Tony

Edit: Actually those page numbers are shown at the top as well as the bottom of each page. Silly me!
  • #15,258
  • Jun 2, 2008 10:59am Jun 2, 2008 10:59am
Hello i did a euro trade earlier today. I enter at 0800 candle on interbank. There was actually a confusion on signal. Last night the 0000 candle did not gove a TC so i went to bed, this morning when i check before 0800 candle close i saw that 0000 candle was a Tc / 0400 was green so i wait for 0800 to close that gave a nice tc again. usually when bars are alternate i skip the trade bec that to me is indecision. but the candle had a loooong tail and that to me was a sign to go short. so i took a short position. (2 lots)
then i switch to see other time frames and when went back to 4 hour then macd was giving a green bar for 0000 candle and tc at 0400( very similar to Ira situation couple of days ago on MACD. )
ANYWAYS!!!
after all said and done i enter at 1.5520
1st lot closed at +20pips and second set to BE which was taken out.
after i let my last trade go from + 30 to a LOSS i am back to a quick profit and set the send to BE .

Now that i review the trade i notice something which must have been discussed before but i guess with time i tend to over look some details. I think there was a hint that price might not go that far down and that was because MACD and just given a Double bottom. Something to look into ,. i would definitely go back in charts and take a look . Also planning to do some refreshers course to keep the brain cells working.
Keep an eye on the daily Euro chart for support on the 89.
Happy trading everyone.
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TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #15,259
  • Jun 2, 2008 11:11am Jun 2, 2008 11:11am
I also tried my hand at the EUR with the TC formed. (Un)fortunately I got to my PC very late (after the tail had formed) and I decided to enter. Took 20pips profit with my first half and set my second half at BE (got stop out at BE).
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #15,260
  • Jun 2, 2008 11:18am Jun 2, 2008 11:18am
I keep hearing talk of the EURUSD could find support on the 89 MA on the Daily charts.

On my Daily Chart, with the 89 Simple Moving Average, I have the 89 SMA about 150 pips below where the current EURUSD is trading (trading at 1.5548, 89 SMA at 15396).

Do you have the same thing and just believe the EURUSD will work its way on down to the 89 SMA, or do you have a change to your 89 MA set-up?
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