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4 Hour Strategy (MACD)

  • #16,041
  • Jul 10, 2008 9:39am Jul 10, 2008 9:39am
Quoting hijackxx
I'm worried about the long tail before the green candle. Someone must have sold EU there.

edit: woops.. it shoots up. maybe a ZB on GU now? Will see
hi
i sold usdcad in the m5 retracement at 1.0095
  • #16,042
  • Jul 10, 2008 10:35am Jul 10, 2008 10:35am
due to my daily activities, I switch to daily timeframe, last night took long eurusd, will see what happen
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 10.07.2008 00.00 daily.gif Size: 21 KB
  • #16,043
  • Jul 10, 2008 10:45am Jul 10, 2008 10:45am
There was a TC of the 89sma and also from a 3x higher low coming from TL support. It was within a triangle so for me it was to take the odds on for a breakout. the signal candle also found support on 1.5700 level. All adds up to a high probability trade.

Entered long at 1.5727
SL 1.5688
TP at 1.5800 and Fib 161,8%
I will close 50% after 25pips and set remainder to 25trailingstop.

Edit 1
50% closed for 25pips. Remainder set at 25 trailing stop

Edit 2
1.5800 was reached so set remainder at 1.5775

Edit 3
Remainder closed at 1.5775

Total gain (25+48)/2 = 36.5pips
Attached Image (click to enlarge)
Click to Enlarge Name: 4 Hour Strategy.gif Size: 29 KB
  • #16,044
  • Jul 10, 2008 11:02am Jul 10, 2008 11:02am
Quoting Phillip Nel
There was a TC of the 89sma and also from a 3x higher low coming from TL support. It was within a triangle so for me it was to take the odds on for a breakout. the signal candle also found support on 1.5700 level. All adds up to a high probability trade.

Entered long at 1.5727
SL 1.5688
TP at 1.5800 and Fib 161,8%
I will close 50% after 25pips and set remainder to 25trailingstop.

Edit 1
50% closed for 25pips. Remainder set at 25 trailing stop

Edit 2
1.5800 was reached so set remainder at 1.5775

Edit 3
Remainder closed at 1.5775

Total gain (25+48)/2 = 36.5pips

ah i wish i could trade like you Phillip, i am hardly positive in any trade atall...i missed this euro trade i took a Gu long earlier today after a tc on the MACD and the bounce of the 200 the news first made it extremely stressful for me and when it started to go up i was too feaed of loosing anything so set the stop at breakeven once i was +15 and i hit it, so i hardly seem to make money...
I believe . . .
  • #16,045
  • Jul 10, 2008 11:10am Jul 10, 2008 11:10am
I also took this trade with some pips out,
seems a great day, everyone are making money

Dhalsim
Success is the small sum of efforts, repeated day in and day out.
  • #16,046
  • Jul 10, 2008 11:14am Jul 10, 2008 11:14am
Quoting ghous
ah i wish i could trade like you Phillip, i am hardly positive in any trade atall...i missed this euro trade i took a Gu long earlier today after a tc on the MACD and the bounce of the 200 the news first made it extremely stressful for me and when it started to go up i was too feaed of loosing anything so set the stop at breakeven once i was +15 and i hit it, so i hardly seem to make money...
If you have done live demo trading and ended positive after at least 30-50 trades you will trust and know your own way and trust the system and your own ability.

If you risk more than 2% of your capital you wont trade relaxing no matter how good you are. You will tend to close too early on winners and to late on losers.
  • #16,047
  • Jul 10, 2008 11:24am Jul 10, 2008 11:24am
Quoting Phillip Nel
There was a TC of the 89sma and also from a 3x higher low coming from TL support. It was within a triangle so for me it was to take the odds on for a breakout. the signal candle also found support on 1.5700 level. All adds up to a high probability trade.

Entered long at 1.5727
SL 1.5688
TP at 1.5800 and Fib 161,8%
I will close 50% after 25pips and set remainder to 25trailingstop.

Edit 1
50% closed for 25pips. Remainder set at 25 trailing stop

Edit 2
1.5800 was reached so set remainder at 1.5775

Edit 3
Remainder closed at 1.5775

Total gain (25+48)/2 = 36.5pips
hi
nice trade ,but the main reason i didnt entered was that tail befor the signal candle just like hijakmentioned .didnt u afraid of that tail ?
thx
  • #16,048
  • Jul 10, 2008 11:45am Jul 10, 2008 11:45am
Quoting bshadroo
hi
nice trade ,but the main reason i didnt entered was that tail befor the signal candle just like hijakmentioned .didnt u afraid of that tail ?
thx
That tail was just a test of the upper part of the triangle. The weighting of the whole triangle was to the upside. I have studied a lot of triangles through the years of stock trading. The price itself made a nice round bottom as well confirming the high probability upmove. I love trading triangles especially to position myself for a breakout.

There is another thing and that is that I am in the positive over 3000 pips since Oct2007 so it makes it much more relaxing to take high probability trades on.
  • #16,049
  • Jul 10, 2008 12:13pm Jul 10, 2008 12:13pm
guess i need to relax a bit and understand that it takes a lot of time to master thios trading technique, i guess i'll switch to demo then and try to figure out my faults...thanks for the mentoring Phillip.

Regards,
ghous
I believe . . .
  • #16,050
  • Jul 10, 2008 1:01pm Jul 10, 2008 1:01pm
Phillip,

I too passed on the EURUSD long due to the long tail against this trade.

I learn something new here everyday, I LOVE it.

Anyway, after reading that you took the trade due to the probability of the triangle breaking to the top, I went into my chart and drew what I believe is the correct triangle.

Can you (or anyone else here) tell me if I have the correct top line (horizontal line) for the triangle?

I want to see if I have this down correct or not.

Thank you!

T.J.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 23 KB
  • #16,051
  • Jul 10, 2008 1:01pm Jul 10, 2008 1:01pm
Could you explain more about the weighting of the triangle if you don't mind
Raymond

Quoting Phillip Nel
That tail was just a test of the upper part of the triangle. The weighting of the whole triangle was to the upside. I have studied a lot of triangles through the years of stock trading. The price itself made a nice round bottom as well confirming the high probability upmove. I love trading triangles especially to position myself for a breakout.

There is another thing and that is that I am in the positive over 3000 pips since Oct2007 so it makes it much more relaxing to take high probability trades on.
  • #16,052
  • Jul 10, 2008 1:27pm Jul 10, 2008 1:27pm
Quoting Phillip Nel
There is another thing and that is that I am in the positive over 3000 pips since Oct2007 so it makes it much more relaxing to take high probability trades on.
Hello Phillip, just wondering how much $ you can get with 3000 pips ?
  • #16,053
  • Jul 10, 2008 1:28pm Jul 10, 2008 1:28pm
Hi there guys and the master,

here is my analysis on Usd/Chf. this is solely for the purpose of constructive criticism, i want to know how far i am going on the right track...

ps this is demo so i am not worried abt taking on the odds to learn...

http://i81.photobucket.com/albums/j2...us/entry-4.gif

now here is why i think it's a good short...

1) I can see that the momentum from the last 2 bars has been heavily on the bearish side...this could possibly end up breaking the support line

2) i see visible divergence on the MACd relative to the charts (highlighted by the grey rectangles)

3) i see a TC pattern on the MACD (lower highs)

what were the odds in my opinion...

1) the tail from the last candle showing signifiacant support from the support line

2) 200 and 89 SMAs around...

considering the odds i felt the positives outweigh the negitives and it thus resulted in me going for a short...

Please guys help me grasp this wonderful system, if Phillip/somebody else can prove me wrong/right criticise/praise i will really fel helped...

thankyou
Ghous.
I believe . . .
  • #16,054
  • Edited 2:27pm Jul 10, 2008 2:09pm | Edited 2:27pm
Ghous, it might work out for you. I don't trade that pair, and I'm going to leave the analysis to someone else. What I'm concerned about is the simple matter of communication between all of you. It seems that I keep seeing miscommunication about what the MACD signals are called. That is something that is so much easier than trading, so I'm going to keep posting Phillip's chart from lesson 9 until someone tells me to stop. What you're describing is a lower high signal. It might work, but it could turn into a zero bounce or a zero break. Those are usually considered as TC signals. Remember that the TC is talking about the MACD signal, not the direction of the price. --Tony

Edit: A MACD TC has to do with whether it is above or below the zero line. A TC up means, in the examples below, a green up bar after a red one on the MACD that is above the zero line. A TC down is a red down bar after a green one that is below the zero line. You're doing great, and you're not the only one confusing the signals. I realize it's easy to do at first.
Attached Image (click to enlarge)
Click to Enlarge Name: From Phillip's PDF- Lesson9.GIF Size: 12 KB
  • #16,055
  • Jul 10, 2008 2:15pm Jul 10, 2008 2:15pm
Written copy daily wrap up from page 1068, post 16009. Look for charts at Phillip's original post. --Tony
Attached File(s)
File Type: doc PhillipNel Daily WrapUp 9July2008.doc   7 KB | 642 downloads
  • #16,056
  • Edited 8:35pm Jul 10, 2008 8:24pm | Edited 8:35pm
Hi Guys,

Please - Anyone can recommend me any broker(mt4 demo account) who provides:-
1. partial TP editting
2. trailing stop loss
3. possible no time limit demo account would be great.
right now I do demo with North finance. I couldn't edit partial TP & trailing SL seem not possible.

Thank you

pete.
  • #16,057
  • Jul 10, 2008 8:40pm Jul 10, 2008 8:40pm
Quoting saka
add this to your chart, it can automatic generate colour MACD
Hi Saka,

May I ask you the different between Macd color v102&v105. Because Palmer are using V102.

Thank you,

Pete.
  • #16,058
  • Jul 10, 2008 8:53pm Jul 10, 2008 8:53pm
Quoting pete.alfa
Hi Guys,

Please - Anyone can recommend me any broker(mt4 demo account) who provides:-
1. partial TP editting
2. trailing stop loss
3. possible no time limit demo account would be great.
right now I do demo with North finance. I couldn't edit partial TP & trailing SL seem not possible.

Thank you

pete.
ODL??

go google...ODL securit1es ???

sonic
  • #16,059
  • Jul 10, 2008 9:41pm Jul 10, 2008 9:41pm
I miss the TC this morning, I was at the dentist.

But i took the round top on the Eur/USD and round top on the GBP/Usd last night.

Made positive pips +22 Eur/USD and +49pips GBP/Usd
  • #16,060
  • Jul 11, 2008 12:44am Jul 11, 2008 12:44am
Quoting pete.alfa
Hi Saka,

May I ask you the different between Macd color v102&v105. Because Palmer are using V102.

Thank you,

Pete.
Not too many, but I remember it is said that v104 has the problem that can waste your memory a lot, v105 is based on 104, just add a MA, if you can find ealier vision, that's good.

Anyway, it is just used to observe the change of MACD, if you use same version in differnt MT4 services or differnt platforms, the MACD may be still different, but the rhythm of market is same, that means the change of the market is the important thing you should focus on
Plan your trades and trade your plans
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