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4 Hour Strategy (MACD)

  • #16,341
  • Jul 25, 2008 6:45am Jul 25, 2008 6:45am
Quoting CTGUY
I second that

Today was a very profitable day... and it continues!
for me too and it seems many people collecting pips
  • #16,342
  • Jul 25, 2008 7:17am Jul 25, 2008 7:17am
ARGH!!! I had my stop too close on the GBPUSD and got stopped out by 3 pips. Damn
  • #16,343
  • Edited 9:03am Jul 25, 2008 8:15am | Edited 9:03am
Short
price 1.5702
1st TP 1.5676, the SL> BE

Will see



Edit:
Closed 50%. set the rest to BE
  • #16,344
  • Jul 25, 2008 8:19am Jul 25, 2008 8:19am
It went through the 200sma, MACD bearish RB on 1h and maybe ZB on 4h (waiting for the close).
Bearish candles (1h and 4h), waiting 40min for the 4h close, if it close below the 200sma, I'll enter short for a TP of 365SMA and TL.
Is it a high probability trade ?
Manu
  • #16,345
  • Jul 25, 2008 8:52am Jul 25, 2008 8:52am
GU is forming nice channel.

Attached Image (click to enlarge)
Click to Enlarge Name: usdgbpcp.gif Size: 25 KB
  • #16,346
  • Jul 25, 2008 10:43am Jul 25, 2008 10:43am
Quoting pete.alfa
hi pipsja,

You look at TITLE - at the same line you can see page & post then you select the page & post you want to read or listen(mp3), then save in your folder
example:-
INTRODUCTION FOR ALL NEW COMERS 1035(page) 15519(post)

Mind you, I read them 3 times,

Good luck,
Pete.
Thanks Pete, looks like quite a bit of material so I'm gonna get started right away.
  • #16,347
  • Jul 25, 2008 10:49am Jul 25, 2008 10:49am
GRRRR,

I missed a nice short TC on the EURUSD and the GBPUSD this morning because my internet provider went down.

At least I am gaining more confidence in my trading.
  • #16,348
  • Jul 25, 2008 11:03am Jul 25, 2008 11:03am
Quoting Pip_eater
Hi all. Although I dont post much(family and work life), I do follow the thread every day. Just wanted to share an analogy to Phillip's trading system. For me Phil is the black belt teaching us white belts. He shows us the techniques (4hour macd & 5 min system), but it is only through personal experience that we learn how to apply these techniques effectively (taking high probability trades). This comes with time and much practice. Although I have a good understand of the system (market motion, rhythm, etc), I have not mastered it. I am continually improving and learning how to apply the system more effectively. Thank you Phillip.
I can not agree with you more. I am newbie, thanks for Phillip I am lucky to know this system although I have not mastered it either. To dance with the rhythm and watch for the mood of price is the most valuble idea. It is easy to say, but hard to realize in living trades for the unexperienced ones like me.

I traded EURO from the beginning of this year, unfortunately, EURO is around its historical high level, the oil and other factors made the volatility very high, the price went up and down very frequently, for the experienced traders it maybe a good chance to make more pips, but for me it really a period of frustration. When the market is in a consolidation period, before the price work out itself, I build up myself an emotion in advance, which leads me to make a wrong decision. Anyway, it is also a good period to learning.

Following the market is the key of this system, when market move in a nice rhythm, follow it with nice TC signal to enter, but do not take the divergent one unless you are very sure about it, when the market pauses, pay particular attention to the price action around TL and Slow MAs, give market time to work itself out.

Focus is very important as Phillip emphasized always, the bad trades always distract me, so to take only the high probability trade is a good idea, it can give positive feedback and thus is helpful to bulid up confidence. For me, to buy or sell the first pull back after the market workouts itself clearly from a consolidation(in 4H chart) is a high probability trade, at least it can be BE. Most of my bad trades are CT, or rush trade in a false breakout. You can take CT, but as the TP is 8 or 21 EMA, so from R:R ratio point of view, the worthy ones do not show up as often as TC, and you have to monitor the trade on live. I would stay away from the low probability setups, which is also very hard. To keep disciplined, one my need not only the good patience and mindset, but also good technical reasons to support discipline, that needs a thorough analysis of the market. Once there was a checklist made by Ira in this thread, I think it is a good guideline to keep us stay away from some trades. You must know first the market is in trend or ranging, I myself not good at trading in ranging market.

That is what I got from this wonderful thread so far. Sorry for my bad English and naive understanding of this great system. May pips with everybody!
  • #16,349
  • Jul 25, 2008 11:11am Jul 25, 2008 11:11am
Quoting Copino
GU is forming nice channel.

Attachment
hi copino

Curious. How do you get the green n red macd 5,13, 1.
Thanks in advance.

yours sincerely,
aida
Loving Life.............
  • #16,350
  • Jul 25, 2008 11:16am Jul 25, 2008 11:16am
oopppsss.ok I got it now. thanks
Loving Life.............
  • #16,351
  • Jul 25, 2008 1:00pm Jul 25, 2008 1:00pm
Hello here is the written copy of daily wrap up for july 22nd . please refer to the following for chart and MP3.
Page # 1085
Post # 16267
Thankyou.
Nadia
Attached File(s)
File Type: doc daily wrap up july 22nd.doc   7 KB | 569 downloads
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
  • #16,352
  • Jul 25, 2008 9:00pm Jul 25, 2008 9:00pm
Quoting BIL2205
Hello here is the written copy of daily wrap up for july 22nd . please refer to the following for chart and MP3.
Page # 1085
Post # 16267
Thankyou.
Nadia
thanks for you written copy.
i can read it ,but i cannt understand the mp3 for my poor english,thanks a lot!!!!
  • #16,353
  • Jul 25, 2008 9:35pm Jul 25, 2008 9:35pm
thanks alot
  • #16,354
  • Jul 26, 2008 1:07am Jul 26, 2008 1:07am
Quoting macalmd
I traded EURO from the beginning of this year, unfortunately, EURO is around its historical high level, the oil and other factors made the volatility very high, the price went up and down very frequently, for the experienced traders it maybe a good chance to make more pips, but for me it really a period of frustration.
Dont be frustrated this is the best time to learn the 4hr system. Why?
Because it is much harder to trade a ranging market than a trending market.
It will make you darn good trader if you can learn how to trade in a ranging market.

We all know the 4hr system works well in a trending market, so just practice the ranging market.

I have praticed many trades on demo. I have learned so much.

A word of advice make notes always about trading from philip's audio because you will never remember everthing he says. Thats how I learned, I mean I would have never learned all of these things if it wasn't for philip.

Listen he did the hard work and has paved the way for everyone else.

If the trade fails analyze the hell out of it to findout what you did wrong was it psychological or did you just enter wrong. Praticing in a ranging market will put a step above many traders.

Right now I'm continuing to making notes from all of the audio wraps. I will usualy find something I did not know.

In addition I am going to start making copies what the candles look like during trend continuations, round tops...etc. So I can understand and see the possible turn outs that I can prepare for during live trading.

You will make it.
  • #16,355
  • Jul 26, 2008 6:36am Jul 26, 2008 6:36am
Thanks to Phillip,
Not forgetting all contributors(you are great),especially those whom we learned from their livetrading mistakes and all the comforters,great thanks to you all you make my days count.Going through this tread from page 1 to the last page really changed my life because this thread is beyond forex trading,it is human.I strongly advise any newbie to read the thread from pg 1 till the end,you will never be the same again,thanks.
  • #16,356
  • Edited 9:08pm Jul 26, 2008 8:55pm | Edited 9:08pm
[quote=Seepiprun;2129552]

A word of advice make notes always about trading from philip's audio because you will never remember everthing he says. Thats how I learned, I mean I would have never learned all of these things if it wasn't for philip.

Listen he did the hard work and has paved the way for everyone else.

Right now I'm continuing to making notes from all of the audio wraps. I will usualy find something I did not know.

In addition I am going to start making copies what the candles look like during trend continuations, round tops...etc. So I can understand and see the possible turn outs that I can prepare for during live trading.

Thank you Seepiprun for your post I will follow your advice - making notes from written audio wrap copy.
and thank you Bil2205 for your great job in 'written copy of daily wraps'
and of course thank you Phillip for this thread.

Best regards,

Pete
  • #16,357
  • Jul 26, 2008 9:46pm Jul 26, 2008 9:46pm
I made notes from the audio files but I can post it. I just need to zip first.
  • #16,358
  • Jul 27, 2008 2:52pm Jul 27, 2008 2:52pm
Hey everyone...The ghost I guess you could call me lately. It's kind of like this. When work takes me out of town for several days it takes me just as long to get caught up with the flow of the markets. And yet again, I will be leaving in the middle of next week for about 10 days with no internet connection. I'll be out a sea doing research so, gone again. I have a lot of prep work to do this week so it's doubtful I'll be around here. So it looks like towards mid/late August I'll be back.

For the new faces that still show up, this is a great place to learn a solid method of trading Forex. Phillip has given us all a great method to trade and the best support that beats any paid service. I put together a website called http://www.fxtradeblog.com that has a lot of extras for the method. One of the most useful things might be the practice charts that can be printed out and you can make notes all over them. These are the 4hr and 1hr charts for 2007 for the EURUSD with the indicators and time reference on the charts to make things easier to find. Feel free to download those and print them out for study purposes. Here's that link http://www.fxtradeblog.com/tools.html#practicecharts

The website: Yes, I know that I said I would add some 1hr entries, and I promise I will. It's been a busy last several months for me, that's all I can say. I want to add Phillip's 5min method as well. This will happen, I just haven't had the TIME to do all of this. I'll get there.

I really miss everyone here and I look forward to being back here in several weeks. Trade well everyone.

Chris
  • #16,359
  • Jul 27, 2008 3:01pm Jul 27, 2008 3:01pm
Quoting Palmer
Hey everyone...The ghost I guess you could call me lately. It's kind of like this. When work takes me out of town for several days it takes me just as long to get caught up with the flow of the markets. And yet again, I will be leaving in the middle of next week for about 10 days with no internet connection. I'll be out a sea doing research so, gone again. I have a lot of prep work to do this week so it's doubtful I'll be around here. So it looks like towards mid/late August I'll be back.

For the new faces that still show up, this is a great place to learn a solid method of trading Forex. Phillip has given us all a great method to trade and the best support that beats any paid service. I put together a website called http://www.fxtradeblog.com that has a lot of extras for the method. One of the most useful things might be the practice charts that can be printed out and you can make notes all over them. These are the 4hr and 1hr charts for 2007 for the EURUSD with the indicators and time reference on the charts to make things easier to find. Feel free to download those and print them out for study purposes. Here's that link http://www.fxtradeblog.com/tools.html#practicecharts

The website: Yes, I know that I said I would add some 1hr entries, and I promise I will. It's been a busy last several months for me, that's all I can say. I want to add Phillip's 5min method as well. This will happen, I just haven't had the TIME to do all of this. I'll get there.

I really miss everyone here and I look forward to being back here in several weeks. Trade well everyone.

Chris
Hi
Thanks for the note. Take care and we miss your input.
Phillip
  • #16,360
  • Jul 27, 2008 6:05pm Jul 27, 2008 6:05pm
see the chart .why the macd on my picture,it can change color,but the horizontal lines on my macd_colored_v103,is so closed,why.can i change the parameters????let it like the top one ?anybody help me>>>
Attached Image (click to enlarge)
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