looks like a well rounded system to me
Dave
-superdezign.com
Dave
-superdezign.com
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
DislikedI am using this 4 Hour strategy only for the last month as I have papertraded for 2 years trying everything and or system I could find. (I am trading equities for almost 10 years)I have decided that I will only go live(after some losses-not to serious) after I have studied the field of forex and are satisfied that I have a system that works. I do believe that we are trying to make it to impressive and difficult. This system is simple and easy to understand. I have backtested and forward tested it over more than 200 trades and it gives 300+ pips per month. I never had more than two consecutive losses. I never use a stoploss bigger than 50. There are enough chances to ignore the ones bigger than 50.
I am using this strategy only on the EurUsd and the GbpUsd. Have not tested it on other.
I hope that you will find some use for it and that it put you on the road to financial independence.Ignored
DislikedHi Phillip,
What would be your take on the GPB/USD at this point? Looks like maybe long? When would you go in? A bit above a long term TL, tails upward, possible round but just above -.0015, 20 pips below 8EMA.
Thanks!Ignored
DislikedHi Phillip,
What would be your take on the GPB/USD at this point? Looks like maybe long? When would you go in? A bit above a long term TL, tails upward, possible round but just above -.0015, 20 pips below 8EMA.
Thanks!Ignored
DislikedDireXiv,
I am not sure whether that can be considered as Double Bottom because it has passed MACD 0.0000, but the later looks Round Bottom to me, comments? (Sorry I do not know how to paste image).Ignored
DislikedI also wont consider the Gbp as a double bottom because of the cross over zero. The round bottom is also not perfect but it was surely on. We had a power failure just after the close of the 21:00(gmt+2) candle. The movement is yet slow as to get momentum so we might see some testing of the botoom resistance again especialy EurUsd. Just be aware of that. It might then form a double bottom which will be the confirmation. Just be aware of the break downwards. We are in a 4 week consolidation of around 100pips. It will go some direction and when it gets to support or resistance we have to be carefull for the breakout. Dont enter to early. Wait for the MACD to give a signal.
I am currently long the EurUsd at 1.2927 with stop at 1.2889 with first profit at 1.2945
Good luck.Ignored
DislikedHi Phil
Just to check :
Your entry was after a MACD confirmation of a rounding bottom, right?
Your stop @ 1.2889 is a trendline support, right?
Your first profit is between MA8 and 21, right?
Next, risk/reward is 1 : 0.47 (38 pips loss vs 18 pips profit)
So, how come you still went ahead with the trade?
Or, should we have used MA89 as the profit target @ 1.2964.
So, risk : reward is almost 1 : 1 (38 pips loss vs 27 pips profit)?
Kindly share your experience.
By the way, good trade, Phil!Ignored
DislikedI got stopped out last night on the gbp/usd negating a 75 pip take..... I guess I'll just have to mandate a 40 pip S/L until I can get better at them. that will also limit my trades do to the risk/profit ratio needed. So, may work out better in long run anyway.......Ignored
DislikedEur/Usd looks round right now, I'm gonna wait a bit before i jump on.
I've decided I'm going to move my stop up to a 50 pip stop... 30 pips just isn't enough.Ignored
Dislikedtried Phillip's system with entry and exit strategy on EUR/USD pair. Result - 22 pips gain. Trade is attached.Ignored