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4 Hour Strategy (MACD)

  • #16,181
  • Jul 16, 2008 2:07pm Jul 16, 2008 2:07pm
Looks like I have won the virus on my laptop. Thanks for everyone that replied. I used Spybot and Avast to remove it.
  • #16,182
  • Jul 16, 2008 2:08pm Jul 16, 2008 2:08pm
Quoting Phillip Nel
I am sorry for those that took the deal with me. One of Murphys laws. When I get the chance to trade live on the forum it is a wrong deal. But at least we did some live trades together in May that did well.
yes, please don't be sorry Phillip. This trade like all the others (which were mostly positive) just taught me once more how to enter and to manage a trade, and how I can optimize little details in the future, and how to manage my emotions at the same time. The intensity of a losing trade is also a big chance.
I'd take that trade again (despite the daily pin). But I'd look for other signs how to minimize the loss, or how to reverse with appropriate signals.
Not always possible, but I'm here to learn to increase positive expectancy in the long run, not for single profits.

Thanks so much for the opportunity to take trades with you.
  • #16,183
  • Jul 16, 2008 2:11pm Jul 16, 2008 2:11pm
Quoting bshadroo
please dont tell this again .u leared us alot of things till now and please dont never say things like this.
i sold eu after it breaks down the neckline in shorter TF (ur another wonderfull strategy) for 20pips and im wondering did u short or not?
thx
bshadroo, I'd be interested how and when you shorted eu after breaking through neckline.... could you elucidate?
  • #16,184
  • Jul 16, 2008 2:43pm Jul 16, 2008 2:43pm
Quoting islandtrader
bshadroo, I'd be interested how and when you shorted eu after breaking through neckline.... could you elucidate?
hi
i posted it in phillips M5 thread . #4908
thx
  • #16,185
  • Jul 16, 2008 3:34pm Jul 16, 2008 3:34pm
the best place to get out of our longs with about 10 to 15 pips loss(the circle below):
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 19 KB
  • #16,186
  • Jul 16, 2008 4:22pm Jul 16, 2008 4:22pm
The long trade last night that many took hit the bottom of the price channel before moving down. It went according to the rule where price broke out and returned to the break out level and move away (in this case down).
Have a look.
Attached Image (click to enlarge)
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  • #16,187
  • Jul 16, 2008 10:46pm Jul 16, 2008 10:46pm
Quoting Hookem28
Good job Saka! That was a nice engulfer.
Did you enter on a retrace or the candle open? I had an entry order missed by 3 pips on both the JPY and EURO. Frustrating to say the least.
I entered with candle open, I becktesting uj for a long time, the firece pattern or bullish engulf of uj after a big down trend is a high probability trade, but the signal candle is also very big, so I use half lot to double my sl
Plan your trades and trade your plans
  • #16,188
  • Jul 16, 2008 10:54pm Jul 16, 2008 10:54pm
Quoting Phillip Nel
I am sorry for those that took the deal with me. One of Murphys laws. When I get the chance to trade live on the forum it is a wrong deal. But at least we did some live trades together in May that did well.
No need to say sorry, this even sounds funny to me. You have anticipated sHs and warned us already. I don't know what more details, if one use lower TF to observe his trade with 20 pips TP. He should take some little profit or BE already.

What's more, when people saw eu daily's shooting star, the engulf candle and a definitely sHs where eu was resistanted by a up trend line, he or she should have entered this trade no matter whether his long trade sl is touched. This is a high probability trade, at least can save your long trade lose.
Plan your trades and trade your plans
  • #16,189
  • Jul 17, 2008 1:08am Jul 17, 2008 1:08am
macd TC, I took it but don't like move on eurusd which is not supporting this pair
  • #16,190
  • Jul 17, 2008 1:09am Jul 17, 2008 1:09am
soory, forgot picture
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 17.07.2008 (04.00).gif Size: 22 KB
  • #16,191
  • Jul 17, 2008 1:23am Jul 17, 2008 1:23am
Alfred,
My platform (MT4) just gave a short signal on the MACD. Be careful.
  • #16,192
  • Jul 17, 2008 1:37am Jul 17, 2008 1:37am
Does anyone feel eu 4h chart will form a three sisiters?
Plan your trades and trade your plans
  • #16,193
  • Edited 3:16am Jul 17, 2008 2:43am | Edited 3:16am
i took the TC in audusd,i like tcs near the zero line
edit:out -4 pips
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 15 KB
  • #16,194
  • Jul 17, 2008 2:48am Jul 17, 2008 2:48am
Quoting Phillip Nel
I am sorry for those that took the deal with me. One of Murphys laws. When I get the chance to trade live on the forum it is a wrong deal....
I concur with Saka, no need to apologize. I would like to think that your influence is so great that you now have the ability to move markets

Thank you for sharing. Live trading helps me to understand your thought process for "preflight" of a trade.
Cheers,
Frick
  • #16,195
  • Jul 17, 2008 4:05am Jul 17, 2008 4:05am
Alfred about your long TC MACD, I would like to comment something there.
Remember U & V shape MACD signals Phillip tought us earlier? I think the TC in your chart didn't really started to make a U or a V shape. It is rather a FLAT pattern signal.
The signal didn't appear on my chart so I didn't focus on this one.

My 2 cents,
Hijackxx
  • #16,196
  • Jul 17, 2008 9:34am Jul 17, 2008 9:34am
I took the long TC on GBP/USD but backed out as the 1H failed to break the trend line. It has now done so and looks like the TC would have been good after all.

I also took a bad EUR/USD short. I believed a TC was forming on 4H and got in early on the 1H trend line break. But I failed to notice the big 4H trend line up not having been broken and I got stung because of it. So far July is first month in 5 where I am down (I've only taken these trades in July as was away for most of it....)
  • #16,197
  • Jul 17, 2008 9:48am Jul 17, 2008 9:48am
Quoting brettboz
I took the long TC on GBP/USD but backed out as the 1H failed to break the trend line. It has now done so and looks like the TC would have been good after all.

I also took a bad EUR/USD short. I believed a TC was forming on 4H and got in early on the 1H trend line break. But I failed to notice the big 4H trend line up not having been broken and I got stung because of it. So far July is first month in 5 where I am down (I've only taken these trades in July as was away for most of it....)
So, this is a good example of 4h strategy rule. When price squeeze, do not enter. Trend line is up, 89 sma or 21ema is down there, we should wait for clear breakout and retrace to enter
Plan your trades and trade your plans
  • #16,198
  • Jul 17, 2008 9:58am Jul 17, 2008 9:58am
Quoting brettboz
I took the long TC on GBP/USD but backed out as the 1H failed to break the trend line. It has now done so and looks like the TC would have been good after all.

I also took a bad EUR/USD short. I believed a TC was forming on 4H and got in early on the 1H trend line break. But I failed to notice the big 4H trend line up not having been broken and I got stung because of it. So far July is first month in 5 where I am down (I've only taken these trades in July as was away for most of it....)
i also took the short on eu with same reason and stopped out for 30pips
  • #16,199
  • Jul 17, 2008 10:01am Jul 17, 2008 10:01am
Yep the price squeze was there and I put it as risk in my log but I honestly didnt see the 4H trend line and I had previously drawn it in but deleted it by mistake later on.

So now I have written in my trade log in big letters (DOUBLE CHECK 4H TREND LINES).
  • #16,200
  • Jul 17, 2008 10:05am Jul 17, 2008 10:05am
Hi everyone,

I am new to this forum and I really did'nt catch the rules of this strategy with regards to the entry point; is it only the signal given by MACD? Can anybody help? Thank you.
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