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4 Hour Strategy (MACD)

  • #15,881
  • Jul 3, 2008 10:46am Jul 3, 2008 10:46am
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.
  • #15,882
  • Jul 3, 2008 10:57am Jul 3, 2008 10:57am
Hello 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,
Ghous
I believe . . .
  • #15,883
  • Jul 3, 2008 11:08am Jul 3, 2008 11:08am
Quoting sriloba
Hi 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.

SRILOBA
Thanks for this writing.

I found that people new to Forex have difficulty in flowing and seeing the rhythm and want to trade to often.

Those that have lost an account or even more than one account and learned the hard way found this system very profitable. It is all about waiting and managing trades with the intension to have a minimum loss if it turns against me and the oppertunity to move with it if it is on the move.

Some experience is also needed especially the emotional part as a believe in the system and give each position a chance to develope.

By doing the same thing constantly you will get good at it.
  • #15,884
  • Edited 11:32am Jul 3, 2008 11:12am | Edited 11:32am
Quoting ghous
Hello 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,
Ghous

I 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.
  • #15,885
  • Jul 3, 2008 12:42pm Jul 3, 2008 12:42pm
Quoting Phillip Nel
I 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.
point noted...

here is the Eu chart a few hours after the NFP:

if the MACD gives a roundbottom in the upcoming few candles, will it be a valid long entry or should i ignore it due to the fact that the entire movent was just part of a wild news impact?

http://i81.photobucket.com/albums/j209/ghous/entry.gif
I believe . . .
  • #15,886
  • Jul 3, 2008 1:05pm Jul 3, 2008 1:05pm
round bottom already beginning to take shape on the 1H for Gu and Eu...
I believe . . .
  • #15,887
  • Jul 3, 2008 1:30pm Jul 3, 2008 1:30pm
Well,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.
  • #15,888
  • Jul 3, 2008 1:52pm Jul 3, 2008 1:52pm
Quoting fena74
Well,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.
let 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.gif
I believe . . .
  • #15,889
  • Jul 3, 2008 2:19pm Jul 3, 2008 2:19pm
Thank you ghous for your answer.I really apreciate it.I understood a lot of it and I will practice your advices.Thank you again for your help and your time for explanation.It is very important to understand most important things conected with the candles.I am happy to be a member of this thread.
  • #15,890
  • Edited 2:40pm Jul 3, 2008 2:38pm | Edited 2:40pm
I thought this might be a good time to repost this copy of an mp3 Phillip made on Palmer's website on candlestick formations. You can find the mp3 on that site. I've made this into a PDF file so you can see the charts with the writing. --Tony
Attached File(s)
File Type: pdf Phillip Nel- Candlestick Information.pdf   62 KB | 1,206 downloads
  • #15,891
  • Jul 3, 2008 3:05pm Jul 3, 2008 3:05pm
I 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
Raymond
Quoting ghous
let 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.gif
  • #15,892
  • Jul 3, 2008 4:44pm Jul 3, 2008 4:44pm
Quoting Phillip Nel
I have done my 100th trade since posting it from Oct2007.
Only 9 losses
the 4th colum of the time is this GMT or EST
  • #15,893
  • Jul 3, 2008 8:37pm Jul 3, 2008 8:37pm
Quoting sriloba
Hi hijackxx,

I trade only eur/usd since 2 years.



SRILOBA
Hi sriloba,

Do you trade 5 mins intra system too? If you do - which pair?

thanks,

pete
  • #15,894
  • Jul 3, 2008 8:49pm Jul 3, 2008 8:49pm
Quoting Morelands
I 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
Raymond

May I knw t setting of ur MACD!!

http://i81.photobucket.com/albums/j2...us/entry-1.gif
  • #15,895
  • Jul 3, 2008 9:37pm Jul 3, 2008 9:37pm
Hi Pete,

I take a signal on higher time frame mostly on the 4 hour and 1 hour chart (4 Hour MACD strategy) and I like to enter a trade in the 15 minute or 5 minute for a minimum risk with 20-25 pips stop lost.

Set up on 15 Minute and 5 Minute chart:
-89 sma
-8/21/55 ema
-macd(8,13,1)
-stochastic(8,3,3)
-daily pivot point

SRILOBA
Being a fxtrader is not easy. Ones must working hard.
  • #15,896
  • Jul 3, 2008 9:39pm Jul 3, 2008 9:39pm
Hi Pete,

I trade only eur/usd

SRILOBA
Being a fxtrader is not easy. Ones must working hard.
  • #15,897
  • Jul 4, 2008 12:26am Jul 4, 2008 12:26am
Quoting Morelands
I 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
Raymond
yes i agree that round tops and bottoms are trend reversal patterns but to me this round bottom appeals to be a trend continuation pattern, the trend was still up untill the NFP and the trend might be correcting itself once again...don't you think??
I believe . . .
  • #15,898
  • Jul 4, 2008 12:30am Jul 4, 2008 12:30am
Quoting sonicdeejay
May I knw t setting of ur MACD!!
are you talking abt the colors of my MACD, or the periodic settings or what?
I believe . . .
  • #15,899
  • Jul 4, 2008 2:00am Jul 4, 2008 2:00am
hi ,

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.
  • #15,900
  • Jul 4, 2008 2:13am Jul 4, 2008 2:13am
Quoting Barak's pip
hi ,

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.
nothing can be said till the close of this bar, if the price does hold by the trendline the roundbottom will woek out on the other hand if this 4H candle closes down to be a bearish candle it will be a very good TC pattern in which case the destination might be the 89SMA in both cases.
I believe . . .
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