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4 Hour Strategy (MACD)

  • #16,841
  • Edited 10:12am Aug 29, 2008 9:25am | Edited 10:12am
short eu (missed 5 pips because of bad connection )and planning to another sell around 4715
edit: stopped out with only 1pip and then price camed back all the way doooooooooooooown
edit:
Attached Image (click to enlarge)
Click to Enlarge Name: eu1.gif Size: 18 KB
  • #16,842
  • Aug 29, 2008 11:55am Aug 29, 2008 11:55am
My candles move to the next candle on the 4hr chart always at 5:00 GMT then 9:00 GMT then 13:00 GMT and so on...
It always seems that the move starts later or earlier. Does it matter when the candles jump to the next, or can I use this system?

Did I understand correct, that Philip likes to trade 4:00, 8:00, 12:00, 16:00 hrs? And are they in GMT?
  • #16,843
  • Aug 29, 2008 1:44pm Aug 29, 2008 1:44pm
Phillin:

I think you've got Phillip's times correct...I think. But, for your time frame it really should not matter because you will see signals develop that other people won't because of the different server times. It all evens out in the end. Unless, someone has really taken the time to go back over x years of charts and look at two or three different server times...that's a load right there...
  • #16,844
  • Edited 2:52pm Aug 29, 2008 2:03pm | Edited 2:52pm
Quoting Palmer
Phillin:

I think you've got Phillip's times correct...I think. But, for your time frame it really should not matter because you will see signals develop that other people won't because of the different server times. It all evens out in the end. Unless, someone has really taken the time to go back over x years of charts and look at two or three different server times...that's a load right there...

Thank you Palmer. I was asking this because I went short the €. The direction was right but got stoped out. It was my mistake though after having looked at it in more detail. Could have gotten the move, but emotions got the better of me.

Just want to say your comments and charts are very very helpful. Thanks for that.
  • #16,845
  • Aug 29, 2008 11:31pm Aug 29, 2008 11:31pm
Quoting saka
Oh, no,you shouldn't use Chinese to post at this thread, otherwise, Phillip will think you talk bad and catch you. If you want to speak with me, you can use PM or IM to connect me
Oh!!No!!
I'm sorry!! philip!!
I don't know this!!!
  • #16,846
  • Aug 30, 2008 10:33am Aug 30, 2008 10:33am
Hi,
Could anybody tell me What was wrong with this Short?

I explained everything in chart.

Thanks
Mike
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Click to Enlarge Name: Question.jpg Size: 84 KB
Failure, is a wonderful teacher!
  • #16,847
  • Aug 31, 2008 10:29am Aug 31, 2008 10:29am
Quoting rsdy18418081
Oh!!No!!
I'm sorry!! philip!!
I don't know this!!!
No problem. Hope you make lots of pips.
  • #16,848
  • Aug 31, 2008 10:35am Aug 31, 2008 10:35am
Quoting mike1349
Hi,
Could anybody tell me What was wrong with this Short?

I explained everything in chart.

Thanks
Mike
Hi Mike. That was a good signal. If you took it the next candle was the crucial one as for a break of a trrendline the candle next to the signal candle is the indicative one. That must confirm the breakout. If not then it is best to take whatever is on the table at that point. It was an inside candle which is a possible turnaround candle.
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  • #16,849
  • Edited 10:52am Aug 31, 2008 10:40am | Edited 10:52am
I could not trade on Friday. Was away on a youth camp. Friday had some oppertunities on EurUsd and GbpUsd. Stops around 50 but could be scaled down in 2 phases of say 30 and 50 giving an average of 40.
  • #16,850
  • Aug 31, 2008 4:02pm Aug 31, 2008 4:02pm
Quoting Phillip Nel
Hi Mike. That was a good signal. If you took it the next candle was the crucial one as for a break of a trrendline the candle next to the signal candle is the indicative one. That must confirm the breakout. If not then it is best to take whatever is on the table at that point. It was an inside candle which is a possible turnaround candle.
Thanks Phillip,

I didn't know that.Good point.

Mike
Failure, is a wonderful teacher!
  • #16,851
  • Edited Sep 1, 2008 12:17am Aug 31, 2008 10:24pm | Edited Sep 1, 2008 12:17am
Hi all
Please I want anybody to tell me What was wrong with this short trade.

I have all my explanation in the chart.

Is it part of the likely lossing trade?

Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: wrongEU.jpg Size: 141 KB
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #16,852
  • Aug 31, 2008 11:59pm Aug 31, 2008 11:59pm
please can any one help me, i see most of the charts on this thread has two different colors for the MACD so one can easily tell when there is a divergence or convergence change, i need to know how to make mine like that because its very hard to tell sometimes when there is a change in direction. anyone pls, i'll really appreciate ur help. or any one could just save a template of his or hers and upload, thanks alot.
  • #16,853
  • Sep 1, 2008 12:15am Sep 1, 2008 12:15am
Quoting fxtrayda
please can any one help me, i see most of the charts on this thread has two different colors for the MACD so one can easily tell when there is a divergence or convergence change, i need to know how to make mine like that because its very hard to tell sometimes when there is a change in direction. anyone pls, i'll really appreciate ur help. or any one could just save a template of his or hers and upload, thanks alot.

Look on post 3341
  • #16,854
  • Sep 1, 2008 12:52am Sep 1, 2008 12:52am
Quoting ejiexe
Hi all
Please I want anybody to tell me What was wrong with this short trade.

I have all my explanation in the chart

Thanks
But I think the price brake through the TL (LH) to the north and pulled back to the both TL and 21ema to take a breath and decided to go direction1 instead of direction2. Maybe it would be better to wait for the confirmation for direction2 (close below TL). But it's so easy to tell this after it's seen what's happened to the price 3 days later. Your trade would be a positive one if the price had gone to the south, and then I would say that you made a good analyse and caught the TC and deserved your pips. You cannot win all trades, but TC pattern can win 80% if you catch the rhytym. And your stoploss was a little bit tall. This is just my view and it may be wrong cos I am a newbe. Hope you win pips.
Attached Image (click to enlarge)
Click to Enlarge Name: wrongEU.jpg Size: 151 KB
  • #16,855
  • Sep 1, 2008 12:55am Sep 1, 2008 12:55am
MACD_Colored_v103 can be useful for you, I hope.
Quoting fxtrayda
please can any one help me, i see most of the charts on this thread has two different colors for the MACD so one can easily tell when there is a divergence or convergence change, i need to know how to make mine like that because its very hard to tell sometimes when there is a change in direction. anyone pls, i'll really appreciate ur help. or any one could just save a template of his or hers and upload, thanks alot.
Attached File(s)
File Type: mq4 21-) MACD_Colored_v103.mq4   13 KB | 780 downloads
  • #16,856
  • Sep 1, 2008 12:56am Sep 1, 2008 12:56am
Hi. I pretty sure Phillip talked about that setup / question of yours in the Daily wrapup for 28 August on post 16820.
He mentioned that the daily / weekly TL ran right across that entry, so he didn't take it....

Quoting ejiexe
Hi all
Please I want anybody to tell me What was wrong with this short trade.

I have all my explanation in the chart.

Is it part of the likely lossing trade?

Thanks
  • #16,857
  • Sep 1, 2008 3:05am Sep 1, 2008 3:05am
Hey guys check out this manual backtest results i did for pairs other than e/u & g/u.
Attached File(s)
File Type: xls Average 1500 pips on 5 pairs per month.xls   32 KB | 541 downloads
  • #16,858
  • Sep 1, 2008 3:15am Sep 1, 2008 3:15am
Quoting fxtrayda
Hey guys check out this manual backtest results i did for pairs other than e/u & g/u.
can't open the file, is it excel 2007?
  • #16,859
  • Sep 1, 2008 3:17am Sep 1, 2008 3:17am
Hey MGOKHANK & PIPRAVEN, Thanks for ur immediate reply and help.
I'm really enjoying this strategy, thanks 2 u all that has been of as little and tremendious help by posting all what u know that can help others succeed, biggest thanks to Phill himself, this strategy if used judiciously could empty any brokers bank into ur pocket.
I just need to know pls what all the following indications mean, what one should do when they show up on the MACD.

  1. RT – round top
  2. RB – round bottom
  3. VT – v-top
  4. VB – v-bottom
  5. ZB – zero bounce
  6. TC – trend continuation

  • #16,860
  • Sep 1, 2008 3:22am Sep 1, 2008 3:22am
Quoting islandtrader
can't open the file, is it excel 2007?
no its not, its an .xls (97-2003) not .xlsx (2007). but here i've reposted it.
Attached File(s)
File Type: xls Average 1500 pips on 5 pairs per month.xls   32 KB | 685 downloads
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