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4 Hour Strategy (MACD)

  • #15,821
  • Jul 1, 2008 4:15am Jul 1, 2008 4:15am
JPY today. Because of the 200ma I don't espect lower than 105. There is one problem - the long white bar on 30min-chart. Let's see
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  • #15,822
  • Edited 12:47pm Jul 1, 2008 5:06am | Edited 12:47pm
TC together with a tail formed from support on TL after a breakout to the top. The

speed the tail was formed was a concern as the last stretch to candle close was slow. The candle formation prior to the signal candle looks promising.

Enter 1.5779

SL 1.5736
TP 1.5827
Will close 50% after 25 pips and set remainder on 25 trailing stop.
Edit 1
50% closed for 25pips and remainder set on 25trailing stop.
Edit 2
Remainder closed by trailing stop for +14
Total gain (25+14)/2 = 19.5 pips

Attached Image (click to enlarge)
Click to Enlarge Name: EurUsd.GIF Size: 34 KB
Attached File(s)
File Type: zip Daily Wrapup 01 July2008.zip   692 KB | 1,237 downloads
  • #15,823
  • Jul 1, 2008 5:08am Jul 1, 2008 5:08am
Quoting Happy68
JPY today. Because of the 200ma I don't espect lower than 105. There is one problem - the long white bar on 30min-chart. Let's see
Hi. I just got back from class. Price missed my SL by 5 pips. Good to see + rather than - when i got here. I closed it for 4pips/2 = 2pips. Because I have to go now (yes, again) and I don't think I can monitor. Happy pipping
  • #15,824
  • Jul 1, 2008 5:13am Jul 1, 2008 5:13am
Any opinion son this possible Long trade in NZDUSD??

Sell below the 4h chart:
TC+ in the MACD
we had a Doji and BullEngPattern
also pulled up from the 21MA

are you guys trading these crosses?

Till
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  • #15,825
  • Edited 6:38am Jul 1, 2008 5:13am | Edited 6:38am
i bought eu and put my stoploss below 21
edit:refreshed the page and im happy to see my trade is like phillips
edit:i took only 10k and closed all at 5815
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  • #15,826
  • Edited Jul 2, 2008 11:17am Jul 1, 2008 1:16pm | Edited Jul 2, 2008 11:17am
I will not say I failed 1000 times, I will rather say I discovered a 1000 ways that can cause failure.

Thomas Edison
  • #15,827
  • Jul 1, 2008 1:44pm Jul 1, 2008 1:44pm
I'm a newbie and was happy to see that I had made the same trade as the master. What can I say other than misery loves company
  • #15,828
  • Jul 1, 2008 2:23pm Jul 1, 2008 2:23pm
i wonder if someone took the SHS in e \ j , i know i did the oposite (and got stoped) ...

i think there is a good potential for double top in the usd\cad 4h chart, what is your opnion?
  • #15,829
  • Jul 1, 2008 2:55pm Jul 1, 2008 2:55pm
Quoting Phillip Nel
I will not say I failed 1000 times, I will rather say I discovered a 1000 ways that can cause falure.

Thomas Edison
Hi Mr Phillip,

With all due respect sir i made another loss again this morning i wonder is there any thing i really missed out.

I saw a TC pattern on the 04.00 candle,
A bullish engulfing candle or quasi tweezer bottom,
Entry at open of 08.00 candle @ 1.5759
SL below previous two candle low @ 1.5725
TP1 @ 1.5800
R:R 1:0.9

Was stopped out at SL

Kindly enlighten if i had entered too early?

I look forward to hearing from you.

Thanks a lot to Happy 68 and Scotty for there insight and may the pips be with you.

Thanks
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"Forex is like a bitch every trader must marry one"
  • #15,830
  • Jul 1, 2008 4:16pm Jul 1, 2008 4:16pm
Quoting don_tgomez
Hi Mr Phillip,

With all due respect sir i made another loss again this morning i wonder is there any thing i really missed out.

I saw a TC pattern on the 04.00 candle,
A bullish engulfing candle or quasi tweezer bottom,
Entry at open of 08.00 candle @ 1.5759
SL below previous two candle low @ 1.5725
TP1 @ 1.5800
R:R 1:0.9

Was stopped out at SL

Kindly enlighten if i had entered too early?

I look forward to hearing from you.

Thanks a lot to Happy 68 and Scotty for there insight and may the pips be with you.

Thanks
Hi tgomez,

Know this is directed at Phillip -- but, like your trade yesterday -- your stop didn't allow for any wiggle room. In fact, the sucky thing is, your trade was great and would have worked if you had allowed for spread and a few extra pips below the low (think you were stoped 2 pips or so before turn around in price). Have you tried altering your sl to encompass more than 1 or 2 pips from the low/high from 8 hours before (also remember if you need to adjust for bid/ask depending on your trade direction and chart setup)? You may want to spend some time backtesting using different stop levels and see your results and if an adjustment is warranted. Other than where you are placing your stops, I personally think, that you are doing a great job w/your trades .
  • #15,831
  • Jul 1, 2008 4:36pm Jul 1, 2008 4:36pm
Quoting don_tgomez
Hi Mr Phillip,

With all due respect sir i made another loss again this morning i wonder is there any thing i really missed out.

I saw a TC pattern on the 04.00 candle,
A bullish engulfing candle or quasi tweezer bottom,
Entry at open of 08.00 candle @ 1.5759
SL below previous two candle low @ 1.5725
TP1 @ 1.5800
R:R 1:0.9

Was stopped out at SL

Kindly enlighten if i had entered too early?

I look forward to hearing from you.

Thanks a lot to Happy 68 and Scotty for there insight and may the pips be with you.

Thanks
Your entry was OK! The stops are part of the game The market today was to crazy in all pairs. That is wafe B (Mr. Ellioth)

But!

You use other MetaTrader and the 4h-bars are not so correct for the purpose of the system. Your TC was to early (see the chart of Phillip). The MIG- and Alpari-MT are better, because they are GMT+1 and that is the time when the market in Frankfurt begins. After 1 hour begins London. Therefore GMT+1 is optimum.

  • #15,832
  • Jul 1, 2008 5:31pm Jul 1, 2008 5:31pm
Hey everyone. I'm taking the rest if the week off and next week I will be away from the PC. Back in a few weeks....
  • #15,833
  • Jul 1, 2008 6:03pm Jul 1, 2008 6:03pm
Hi fellowS traders,


Can anyone show me how to post a chart in the forum. Because I like to share my opinions on the 4 hour macd strategy. Now I trade for the living with this system very success, . Thank to master Phillip.

I'm from Canada.

Au revoir

SRILOBA
Being a fxtrader is not easy. Ones must working hard.
  • #15,834
  • Edited Jul 2, 2008 1:14am Jul 1, 2008 10:54pm | Edited Jul 2, 2008 1:14am
Quoting sriloba
Hi fellowS traders,


Can anyone show me how to post a chart in the forum. Because I like to share my opinions on the 4 hour macd strategy. Now I trade for the living with this system very success, . Thank to master Phillip.

I'm from Canada.

Au revoir

SRILOBA
Hi SRILOBA..

You can easily attach your chart by clicking "Manage Attachments" button in "Additional Options" window and upload your chart there while creating a post. Looking forward to see your post

..::hijackxx::..
  • #15,835
  • Jul 1, 2008 11:05pm Jul 1, 2008 11:05pm
Quoting Phillip Nel
I will not say I failed 1000 times, I will rather say I discovered a 1000 ways that can cause falure.

Thomas Edison
Onething confused me that your TC signal canld formed at 8:00, so you entered at 12:00, but I saw lots of us's chart formed at 4:00, so we entered at 8:00

I use another service, I saw a same formation like yours, but when I opened it today, I saw it has changed to my yesterday's formation

see the chart
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 24 KB


At least, I should have re-entered for the tail
Plan your trades and trade your plans
  • #15,836
  • Jul 2, 2008 12:54am Jul 2, 2008 12:54am
First live trade yesterday with the 4h MACD system
Long entry 1.5790 with fixed stop loss for Risk/Reward ratio 1:1
Closed manually at 1.5784 because no confidence and pressure
Loss: -6pips
  • #15,837
  • Edited 3:27am Jul 2, 2008 2:38am | Edited 3:27am
Quoting eTrader
First live trade yesterday with the 4h MACD system
Long entry 1.5790 with fixed stop loss for Risk/Reward ratio 1:1
Closed manually at 1.5784 because no confidence and pressure
Loss: -6pips
well done, eTrader

*edit: sorry, I thought it might sound sarcastic. Any way the trade is managed to minimize losses, is a good way to exit.
I used to let the trades hit my full stop loss all the time, and it didn't work out in the end, now I might have slightly more losses, but smaller overall, and don't eat into my profits as much anymore. And with time and experience those managing skills develop even further.
  • #15,838
  • Edited 11:22am Jul 2, 2008 5:33am | Edited 11:22am
Taking the tail on from resistance ±1.5840

Will close 50% after +20pips and set remainder on -20pips and set remainder on 45 trailing stop

Edit 1
I was very surpriced when I had a look again just before the 12:00-16:00 close to see it turned around completely. I therefore waited for the candle close and a very strong bullish candle as well and entered a long position.

I will discuss the reason for entering long with the post and chart further on.

Total loss 30pips
Attached Image (click to enlarge)
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  • #15,839
  • Jul 2, 2008 5:54am Jul 2, 2008 5:54am
Just to remind everyone that NFP will be released earlier tomorrow on Thursday. Watchout for tomorrow's signal if there is any.
  • #15,840
  • Jul 2, 2008 8:15am Jul 2, 2008 8:15am
Anybody knows why this month NFP is on Thursday.Usually NFP is on the first Friday of each month

Mike
Failure, is a wonderful teacher!
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