I am surprised anyone took USD trades this morning with the NFE and the Emmployment Rate changes both due out in the very 4 hour bar you traded into.
I passed on the GBPUSD short due to the news.
I passed on the GBPUSD short due to the news.
4 hour strategy (the nausbot - 4 hour trader) 11 replies
4 Hour Strategy Macd+other Indicator 21 replies
X-1102 1 hour , 4 hour and daily Tf trades 7 replies
Create a verticle line at certain hour for every certain hour 16 replies
Is the "4 Hour Strategy (MACD)" the best system here at FF? 20 replies
DislikedHi Pete,
Thank you.
I started to learn a forex since October 2005. I bought a course from Forexmentor (Peter Bain). I read every thing written on forex : how to read a chart properly, do a top down analysis, Steve Nison books on candlesticks, Mark Douglas book on Trading in the zone, Chris Lori courses and others professionnal traders books. After learned all those systems which were wonderful but I feel I'm still miss something for my trading career. In the past, I had a big problem to determine a trend. I traded counter trend all the time. I blew my account twice. So I stop trading for a while and start to look a system that fits for my style. So, I ask myself what kind of system is better for me. I like the moving average for determine the trend in a specific period. So God lead me to forexfactory and found a 4 hour macd system written by Phillip Neil since a year. I was happy to grab on the documents for free so I started serously learning the 4 hour macd system. Now, I am very successful to trade with this system.
Long story just to prove that I love to trade as my home commission based bussiness.
SRILOBAIgnored
DislikedHello everybody!
My name is Ghous and i am from Pakistan.
i have just gone through most of this system and needless to say (as many others have tried typing their hearts out ) the system is just too good, infact the system aside Phillip on his own part has done tremendously well in trying to help us newbies out getting familiar to this market. it really is exteremly generous of him to take out so much of time just to ensure we get the system straight through our heads and that we make money.
Thankyou very very very much for this wonderful opportunity to have the good taste of being profitable in the good times and in the bad times. i have come from a loosing background, i have lost a lot of money and time but this one here seems to have all the ammo to combat the odds of the market....congragulations on such a genius brain Phillip...and thankyou all the rest of you for your help and support throughout this wonderful thread...Phillip I owe you...
anyways i just had a quick question if the master or any of you great guys can assist me? how do i really tackle the noise in the market that arises from news impacts NFP etc etc. should i just be normal and treat those candles normally, or do i ignore such times? is it ok to take an entry before news time?
thankyou
Regards,
GhousIgnored
DislikedI only take Interest rate news and NFP into account and don't trade them. I have found that more than aften that with other news the candles confirm the news that is coming as the news might have leaked out or being correctly anticipated by the big guys.
If I have a position open on these days I will close some time before the news when price seems to start to wait for the news.Ignored
DislikedWell,I managed support and resistance,trendlines someway but it is dificult to me to know which candle reverse signals are good for looking and have more strenght?If anybody can say wish signals are more relative I will be happy to know that.I study candle paterns but too much candle patterns and I am a little bit confused wich ones are more relative in revers paterns signals. Thank you.Ignored
Dislikedlet me help you...
the chart i recently posted hosts many such candles, generally speaking you should look for reversal candles on or around trendlines important price levels pivots, fibs or any other genuine cause of support or resistance. typically a candle with long tail (i.e hint of a strong movment in a certain direction but the price not being able to close with authority leaving behind a wick) or a pin bar setup (a candle with a small body and one smaller wick the other one being very large in the direction of the current trend...note: i said wick and not actual price...refer to James 16 chart thread for a better explanation on pin bar setupsand some other technical price action setups that should be good for your liking) should do for you...
i edited my chart a bit to give you some examples...the "could be reversal" candles are marked with a red circle...take special note of their significance on and around trendlines and ema's...they give you a hell lot of assistance..
http://i81.photobucket.com/albums/j2...us/entry-1.gifIgnored
DislikedI have done my 100th trade since posting it from Oct2007.
Only 9 lossesIgnored
DislikedI would just wait until the dust settles. For the most part, this group is only taking TC/Trend Continuation signal. A few of the more experienced are taking CT/Counter Trends (round bottoms and tops) and if they do they try to get to break even as soon as possible...20pips and set the rest to BE/break even. If you are not sure and have not backtested, I would suggest you stay away. Just my thoughts
RaymondIgnored
DislikedI would just wait until the dust settles. For the most part, this group is only taking TC/Trend Continuation signal. A few of the more experienced are taking CT/Counter Trends (round bottoms and tops) and if they do they try to get to break even as soon as possible...20pips and set the rest to BE/break even. If you are not sure and have not backtested, I would suggest you stay away. Just my thoughts
RaymondIgnored
Dislikedhi ,
i think i see a round bottom on the e\u 4h , is anybody else see it the same way ?
about g\u i can't figure yet what is the direction i guess i will just have to wait for the next bar , do you have any insights?
Barak.Ignored