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4 Hour Strategy (MACD)

  • #221
  • Feb 6, 2007 11:37am Feb 6, 2007 11:37am
Quoting Phillip Nel
As the Gbp deal looked.
Phillip,
I am always puzzeld about this kind of signal you have shown in the chart. What is the exact name of this signal? It is not 'Higher Low', it is not 'Trned continuation', it is not 'zero croos and reverse' and it is not 'close to zero line and back'. What is the name of this signal? Can you tell me where is it explained in the document?
Thank you.
-Chandra
  • #222
  • Feb 6, 2007 11:40am Feb 6, 2007 11:40am
Quoting DireXiv
What a great day for the MACD!!!.... except I only came out with 12 pips because of moving my stops to try and keep some profit. If I could have lasted another 45 minutes... I would have come away with around 200 pips on 3 trades Eur/usd, Eur/Yen, and GBP/Usd.

So, here is the "money" question for me -

Phillip, when do you move the stop loss to get back to even? I can't take partial profits on my account because it's a mini account, so I can't trade exactly as you do at this point. Because of that, should I just set my stop loss where needed initally and not move until the major move is over? Then just plan on taking a loss if it comes? I'm trying to only take the best moves, so maybe that would be my plan?

I know that's not how you do it, but your opinion would help a lot.

Thanks!

Take the good ones till you have 150 pips gain then add another minilot. Then take 2 minilots with one at first profit anf second to breakeven etc etc.

Add another lot for every 150 pips gained.
  • #223
  • Feb 6, 2007 11:48am Feb 6, 2007 11:48am
Quoting Chandra
Phillip,
I am always puzzeld about this kind of signal you have shown in the chart. What is the exact name of this signal? It is not 'Higher Low', it is not 'Trned continuation', it is not 'zero croos and reverse' and it is not 'close to zero line and back'. What is the name of this signal? Can you tell me where is it explained in the document?
Thank you.
-Chandra

It is not a round bottom but it is the closest to it. The MACD turned around upwards from trendline support together with a morning star. I think the odds were on. I call it a high probability trade. Even if it made a "V" bottom over three bars with those support and candle pattern the odds must be taken. In the exercise I called it a aggressive reversal I think.
  • #224
  • Feb 6, 2007 11:50am Feb 6, 2007 11:50am
Quoting turk87
Hey Philip, I also took the EUR.USD trade last night. I went long at 1.2925.
I'm still holding, I want to lock in a at least 1R (50 pips profit, which was my stop loss).

Anyways good stuff, are you still holding on to it?
Took 50% on 1.2960 and his raised stop on rest to 1.2945. Waiting for 1.2980 and up.
  • #225
  • Feb 6, 2007 11:53am Feb 6, 2007 11:53am
Quoting robertnicoud
I discovered last Sunday the 4 hour strategy.
I am very surprise of the results.
As I am not familar with the moving averages lines I used the Pivot lines its work very well.
Robert

If you are fimiliar with pivots it is OK. I dont like the horizontal lines. The MA's tend to follow the price if it is trending with an angle sqeezing a bit more pips out as the angle allows for it.
  • #226
  • Feb 6, 2007 12:13pm Feb 6, 2007 12:13pm
hi phil
this stratgy v.good with me ......... thanks
I opend 2 positions
1 on gbp/usd long @ 1.9619
1 on eur/usd long @ 1.2934
I close .5 of each
still have the other .5
so how now could I recognize my 2ed target for each ...plz help
>>>>>>>>>>> thanks again

oh yes plz something else >> do u think I beter get out of market in news time
If you count on hope in any trade ……. Get out of it
  • #227
  • Feb 6, 2007 12:28pm Feb 6, 2007 12:28pm
EurUsd. Moved stoploss to 1.2965. Target 1.3000


Gbp. Set stoploss to 1.9675 just about at 89SMA. Next target previous closest high of 1.9740-45.

Good luck
  • #228
  • Edited 12:43pm Feb 6, 2007 12:32pm | Edited 12:43pm
Quoting mandoaddam
hi phil
this stratgy v.good with me ......... thanks
I opend 2 positions
1 on gbp/usd long @ 1.9619
1 on eur/usd long @ 1.2934
I close .5 of each
still have the other .5
so how now could I recognize my 2ed target for each ...plz help
>>>>>>>>>>> thanks again

oh yes plz something else >> do u think I beter get out of market in news time

See post 227 for targets.

If there is news coming just tighten your stoploss ot close part of the deal and give the other part the benefit of going. Set stoploss so that no loss will occur should the trade go wrong. Also look at news expectations and whether it might influence the market.
  • #229
  • Feb 6, 2007 12:34pm Feb 6, 2007 12:34pm
Eur ran into 365EMA. Set stoploss to 1.2972.
  • #230
  • Feb 6, 2007 12:40pm Feb 6, 2007 12:40pm
Be aware. Set stoploss to at least 1.2970. Lets see if it can go over the trendline and 365EMA. If yes then 1.3000 is on.
Attached Image
  • #231
  • Feb 6, 2007 1:01pm Feb 6, 2007 1:01pm
ok phil ... first thanks for quick reply
So ... for learning
if we goes over 1.3000 so I could inter again cause macd continu or what???
or it's gona be risky ?
If you count on hope in any trade ……. Get out of it
  • #232
  • Feb 6, 2007 1:17pm Feb 6, 2007 1:17pm
Quoting mandoaddam
ok phil ... first thanks for quick reply
So ... for learning
if we goes over 1.3000 so I could inter again cause macd continu or what???
or it's gona be risky ?

I will only enter when the MACD makes a pullback and give a trend continue signal. 200SMA is only about 20 pips above 1.3000. Not worth it I would say.
  • #233
  • Feb 6, 2007 1:22pm Feb 6, 2007 1:22pm
Look at this chart. A breakout started. Watch for the pullback after it did run a while if it does.
Attached Image
  • #234
  • Feb 6, 2007 1:31pm Feb 6, 2007 1:31pm
Hi Phil,

thanks for your continuous posting with trade examples. This thread is a great learning experience on your system.
I have a question regarding your post #233. The MACD has not form any discernible pattern that will advice a long trade. Of course the price action may suggest it: TL breakout and possible candle formation. Would you wait for MACD confirmation, or would you jump into the trade based on the previous data?

Alcastro
  • #235
  • Feb 6, 2007 1:38pm Feb 6, 2007 1:38pm
Philip... What happens if you are long a position and the MACD goes up and breaches the 0 line. Do you accumulate more?

I am thinking of buying more at these levels.
Attached Image
  • #236
  • Feb 6, 2007 1:40pm Feb 6, 2007 1:40pm
sory phil cause I keep asking.....
but this thread is so helpfull to me
now I have some thing rong >>>> when I look to my shart I found the candles not like yours .. it's some thing else
I trade with velocity..... so is this a problem in my trades ?
if yes >>> how I fix it ?
thanks
If you count on hope in any trade ……. Get out of it
  • #237
  • Feb 6, 2007 1:58pm Feb 6, 2007 1:58pm
As to the Gbp breakout trade I will wait for the MACD to give a signal. I like it conservitave. I will never add to a trade. Only my way. If I have to do so I will only do it if the MACD crosses the line from within the 15 MACD zone. If it comes from the 30 or 45 it means it could be exhausted. Only my opinion.

Never forget the whole picture. You must allways have it in your mind and on your screen. It will give you all the options. We have concentrated on this one deal only and might have forgotten about the bigger picture. Just zoom out so that you can see at least 10 weeks of data and re-evaluate your trendlines and get an overall picture again.
  • #238
  • Feb 6, 2007 2:01pm Feb 6, 2007 2:01pm
Quoting Phillip Nel
Where were your entry and stops on the Gbp. Entry was on 1.9600 after confirmation of a turnaround at 0.000 Gmt and stoploss at 1.9555 with first profit target 1.9675. Our power were off otherwise that would have been the deal. Hope someone took it. It did not start as a double bottom but 0.0000 Gmt after the close of that candle showed the up move. There was a nice morning star that formed at the bottom.
Phillip,
Can you tell us what prompted you to have the stop loss at 1.0555?
Thanks.
-Chandra.
  • #239
  • Feb 6, 2007 2:02pm Feb 6, 2007 2:02pm
This what I have drawn just to give me that overall picture on the EurUsd.
Attached Image
  • #240
  • Feb 6, 2007 2:02pm Feb 6, 2007 2:02pm
Quoting mandoaddam
sory phil cause I keep asking.....
but this thread is so helpfull to me
now I have some thing rong >>>> when I look to my shart I found the candles not like yours .. it's some thing else
I trade with velocity..... so is this a problem in my trades ?
if yes >>> how I fix it ?
thanks
DragonSlayer,
Maybe I can help. If you want to have your charts replicate Phil's, you must adjust your charts timezone to GMT+2. After you have done that you will still not be able to replicate any of the previous charts up untill the point in which you made the time change. However, after that they will be identical.
Hope that helps.
70% expectancy rate with proper SL placement.
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