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4 Hour Strategy (MACD)

  • #16,781
  • Aug 27, 2008 1:13pm Aug 27, 2008 1:13pm
Quoting PhilinGood
Take care. Looks quite dangerous.
Thanks Phillin. I've got my scotch and cigars in a safe place!

unlv: My 'guess' is that the platforms haven't been evacuated yet since it's a few days out. I heard a report that Katrina damaged/shut down 113 platforms so this will be interesting. I just hope it's not an excuse for the oil barrons to jack things up again. It looked like oil was taking a breather there until Fay came through. But, with Monday a holiday and if this storm does some damage, Tuesday next week could send oil rocketing to the upside. I may be in and out on the 5min, did a few today, here and there until this all passes by.
  • #16,782
  • Aug 27, 2008 1:42pm Aug 27, 2008 1:42pm
Quoting Palmer
Thanks Phillin. I've got my scotch and cigars in a safe place!

unlv: My 'guess' is that the platforms haven't been evacuated yet since it's a few days out. I heard a report that Katrina damaged/shut down 113 platforms so this will be interesting. I just hope it's not an excuse for the oil barrons to jack things up again. It looked like oil was taking a breather there until Fay came through. But, with Monday a holiday and if this storm does some damage, Tuesday next week could send oil rocketing to the upside. I may be in and out on the 5min, did a few today, here and there until this all passes by.
Ohhhh...and don't forget about the 10 million cars being put back on the road this week in China....expect world demand to go up over the last few weeks....w/a hurricane....hmmm....

Hope you are safe in Fla....
  • #16,783
  • Aug 27, 2008 1:46pm Aug 27, 2008 1:46pm
Sorry to waste space on the forum -- But I have a bunch of PM's sitting in my box that I won't be able to answer until the week after Labor Day. Not ignoring them -- just don't have enough time at moment to take care of all my stuff.

Trade well and thanks for your patience.

Pips
  • #16,784
  • Edited 4:21pm Aug 27, 2008 3:24pm | Edited 4:21pm
I made a loss, 35 pips. I have attached the file. The part marked green is my entry: 1.4668 and red is stop loss: 1.4703 I put it slightly above the 8EMA.
I marked green the MACD where I went short too.
Did I do a mistake here? Was it not worth a try?
Attached Image (click to enlarge)
Click to Enlarge Name: ecu8.jpg Size: 98 KB
  • #16,785
  • Aug 27, 2008 3:35pm Aug 27, 2008 3:35pm
Quoting PhilinGood
I made a loss, 35 pips. I have attached the file. green is square is entry: 1.4668 and red is stop loss: 1.4703.
I marked green the MACD where I went short.
Did I do a mistake here? Was it not worth a try?
I made a loss here too PhillinGood. Feeling battered and bruised so would be grateful for any light shed on this one. It did look good with that down channel and pinbar through the 21 ema.

All I can think of is the MACD only turned down from zero by a small amount or possibly that we were trading outside of european market hours. Could have also been that stop should be above the pin, but r/r would be bad in that case.
Attached Image
If it's too good to be true, it probably is.
  • #16,786
  • Aug 27, 2008 3:47pm Aug 27, 2008 3:47pm
Hello everybody,

I'm finally back to trading. It has taken me some time to finish my projects ... and the new ones are ahead to come. But for now I'm back to trading.
Most probably I will lag some of the market rhythm rules, so if I make mistakes in the explanations of my trades I'd apprechiate corrections.
By the way, I would like you to have a look on "The Simple Stupid System" by Wahnone. It looks very interesting and might be of use for early entry on 1h basis.

Best Regards

ashes
  • #16,787
  • Aug 27, 2008 7:39pm Aug 27, 2008 7:39pm
Quoting BIL2205
Hello Everyone. Been a while since i posted. Was extremely busy with other commitments. Nice move on Euro. I took only couple of demo trades in august due to my schedule and made some pips on the down move. Will resume live trading in september. and hope fully will be more active in the thread,

Here is the long due written copy of daily Wrap up from August 14th.
Page #1108.
Post # 16613.
I aplogize for the delay.
Thanks .
Nadia.

THANK YOU BIL2205!!!!!!!
I NEED IT ANYTIME!!!!!FOR MY POOR ENGLISH!!!
  • #16,788
  • Aug 27, 2008 9:32pm Aug 27, 2008 9:32pm
Quoting ashes
Hello everybody,

I'm finally back to trading. It has taken me some time to finish my projects ... and the new ones are ahead to come. But for now I'm back to trading.
Most probably I will lag some of the market rhythm rules, so if I make mistakes in the explanations of my trades I'd apprechiate corrections.
By the way, I would like you to have a look on "The Simple Stupid System" by Wahnone. It looks very interesting and might be of use for early entry on 1h basis.

Best Regards

ashes
hi, ashes, nice to me you again! And wish you trade well, hope to read more your posts
Plan your trades and trade your plans
  • #16,789
  • Aug 27, 2008 9:48pm Aug 27, 2008 9:48pm
Hi guys,
In MT4, I use 30m and 4hour charts often. I want to draw "4 hour
separator" lines in M30 chart. It better be like MT4's period
separator. But I don't know which line type to choose.... Vertical line
is not one of "Drawing styles".

Any idea?
  • #16,790
  • Aug 27, 2008 9:50pm Aug 27, 2008 9:50pm
Does any one got some pips from eu yesterday 16:00 GMT+1? There was a shooting star point to the trend line, I think this is absolutely the rhythm, that trend line from daily chart and also formed the previous sHs's shoulder. And it also resistanted by 55ema of 4h, I didn't draw it on chart. But the price retrace a lot after falling down. I entered at 17:00 GMT+1, it definitely a good chance.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: daily.gif Size: 36 KB
Click to Enlarge Name: 4h.gif Size: 31 KB
Click to Enlarge Name: 1h.gif Size: 33 KB
Plan your trades and trade your plans
  • #16,791
  • Aug 27, 2008 9:59pm Aug 27, 2008 9:59pm
Quoting pips4uandme
Ohhhh...and don't forget about the 10 million cars being put back on the road this week in China....expect world demand to go up over the last few weeks....w/a hurricane....hmmm....

Hope you are safe in Fla....
Welcome back, pip4uandme, and.... you come to China?
Plan your trades and trade your plans
  • #16,792
  • Aug 27, 2008 10:43pm Aug 27, 2008 10:43pm
Quoting saka
Does any one got some pips from eu yesterday 16:00 GMT+1? There was a shooting star point to the trend line, I think this is absolutely the rhythm, that trend line from daily chart and also formed the previous sHs's shoulder. And it also resistanted by 55ema of 4h, I didn't draw it on chart. But the price retrace a lot after falling down. I entered at 17:00 GMT+1, it definitely a good chance.
Hey Saka.
I entered short one hour before you. My TP1 was hit for +20, but I was quickly stopped out at BE on the remainder.
The Pound trade after the tweezer tops turned out to be the trade of the day.
Did you make some pips on your trade?
  • #16,793
  • Aug 27, 2008 11:32pm Aug 27, 2008 11:32pm
Hello everyone. Thank all, especially Phillip, for their huge effort and help. I watch and follow this thread for a long time, and l have learnt a lot about forex, human psychology upon money and , of course, self sacrifice-help understanding that has been lost by the effect of globalization. I have a question about strategy. What should we do if a strong buy signal comes after we entered short trade whose sell signal had met all demands of MACD 4h rhytym strategy's short trade condition ? should we "close" the position or "close and open counter" or "trust first signal and go on" ?
  • #16,794
  • Aug 28, 2008 12:15am Aug 28, 2008 12:15am
Quoting Hookem28
Hey Saka.
I entered short one hour before you. My TP1 was hit for +20, but I was quickly stopped out at BE on the remainder.
The Pound trade after the tweezer tops turned out to be the trade of the day.
Did you make some pips on your trade?
yes, only a little. If I were awake, I should have longed eu at 1.4714, 0:00 GMT+1. Both 4h can daily chart formed HL
Plan your trades and trade your plans
  • #16,795
  • Aug 28, 2008 12:20am Aug 28, 2008 12:20am
Quoting mgokhank
What should we do if a strong buy signal comes after we entered short trade whose sell signal had met all demands of MACD 4h rhytym strategy's short trade condition ? should we "close" the position or "close and open counter" or "trust first signal and go on" ?
This is really hard to say. I think you short trade must a TC since the long one is CT. I guess this strong long signal must be HL. According to theseday's trend, you had better close short position and long it when HL has been formed. Both 4h and daily has been divergency for a long time.
Plan your trades and trade your plans
  • #16,796
  • Aug 28, 2008 1:15am Aug 28, 2008 1:15am
for last 3 months I had only 4 wins and 20 losses, yesterday I missed TL and prices supported on it, instead going down,
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 27.08.2008 (20.00).GIF Size: 17 KB
  • #16,797
  • Aug 28, 2008 1:48am Aug 28, 2008 1:48am
Hello all,
I'm new at the marketing and I'm trading on demo account only at the moment. Before I found this strategy from Philip Nell I was strugling. I did not know when to input to trade, take profit, etc...

Now I'm testing this strategy for a month on E/U, G/U, E/G pairs. I trade only when I have time. I made 19 trades and had 17wins and only 2 loses. I trade only 1 minilot on trade and I must be "sure". If there are any doubt, I don't trade. TP is 8MA, BB, resistance or supports. SL according to previous bar. Profit factor is 7.5. I got 457 pips, cca 25 per trade. I know this results is luck in my case, but I'm convinced that it works .
If the results are similar in the future (after 40-50 trades) I'll go trade live. Thanks Philip and all others!
I'm hungry for any new information .
  • #16,798
  • Edited 2:18am Aug 28, 2008 2:16am | Edited 2:18am
Hi,

thank you saka for the welcome.

I see a macd divergence (triple) on gbp/usd. maybe we get a tc off the 21.

Regards
  • #16,799
  • Aug 28, 2008 3:22am Aug 28, 2008 3:22am
Quoting saka
I have to say, all your charts macd patterns are quite different than me. At 4h chart, the previous candle is a shorting star, I also can't find any long signal at 1h. I find that most of your trades are CT, this is risk for me, and you alsways find right point when trend begins to reserve. Could you give us some tips?
Hello Saka,
I noticed also that everything looks different on your charts.
Countertrend trades are very risky and you can best avoid them.
Watch the Multiple Time Frames (Daily, 8h, 4h, 1h, 15m and 5m).
All the macd patterns in the different time frames must go in the same direction.
  • #16,800
  • Aug 28, 2008 3:24am Aug 28, 2008 3:24am
Quoting saka
I have to say, all your charts macd patterns are quite different than me. At 4h chart, the previous candle is a shorting star, I also can't find any long signal at 1h. I find that most of your trades are CT, this is risk for me, and you alsways find right point when trend begins to reserve. Could you give us some tips?
Hello Saka,
I noticed also that everything looks different on your charts.
Countertrend trades are very risky and you can best avoid them.
Watch the Multiple Time Frames (Daily, 8h, 4h, 1h, 15m and 5m).
All the macd patterns in the different time frames must go in the same direction.
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