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4 Hour Strategy (MACD)

  • #801
  • Feb 16, 2007 3:37pm Feb 16, 2007 3:37pm
I completed 2 weeks of following Phillip's MACD 4HR system and my results are +350 pips. I still have an open position with usd/cad which is a kind of tested pair. Since I'm sorta exceeded the monthly objective of 300+ pips I am allowed to take 2 weeks of vacation . Everyone will have a great weekend! Yours, Tamkras.
  • #802
  • Feb 16, 2007 6:07pm Feb 16, 2007 6:07pm
Great Job, Tamkras!

Talk to you next week!
  • #803
  • Feb 16, 2007 6:15pm Feb 16, 2007 6:15pm
Phillip,

I have a question regarding entry orders. Do you ever use entry orders around the 21 MA when you are unable to watch the market for the 4 hour period? Don't think I am asking very clearly. Like today, with the Eur, had I placed an entry order to go long at the 21, it would have been filled and the price bounced back to where it had been sitting for the last few days. Is it a good or bad or indifferent idea to use entry orders based on signal as long as you check them every 4 hours?

Thank you again for helping us all with your awesome system. I can honestly say that I joined Forexfactory just for this group and am following and testing this system only. Your support and nurturing of this group is wonderful and I can not send you enough thanks.
  • #804
  • Feb 16, 2007 6:17pm Feb 16, 2007 6:17pm
Tamkras, Are you keeping a record of all of your trades with this system?

I have also been testing this system for 2 weeks and I"m up 176 PIPS. With one open trade, long USD.CHF.

IF you have been keeping record (with charts), I would be intersted in swapping data and analyazing your trades.
  • #805
  • Feb 16, 2007 6:18pm Feb 16, 2007 6:18pm
Thank you to everyone who posts to this forum! I really appreciate all the insight and positivity each individual contributes. This is the first forum I have ever joined, and that is because the group doesn't whine nor complain. You all are generous and positive and I can not thank you enough for helping me become a better trader.

Here's to tremendous pipage through the 4HR MACD system!!!
  • #806
  • Feb 16, 2007 8:13pm Feb 16, 2007 8:13pm
Quoting tamkras
I completed 2 weeks of following Phillip's MACD 4HR system and my results are +350 pips. I still have an open position with usd/cad which is a kind of tested pair. Since I'm sorta exceeded the monthly objective of 300+ pips I am allowed to take 2 weeks of vacation . Everyone will have a great weekend! Yours, Tamkras.

Tamkras,

In which time zone do you live? I am in EST, and as I said in aprevious post, it would be nice if we could chat and analyze our trades at least 15 mins before the 4hr candle closing.
  • #807
  • Edited 11:59pm Feb 16, 2007 11:19pm | Edited 11:59pm
Quoting turk87
Tamkras, Are you keeping a record of all of your trades with this system?

I have also been testing this system for 2 weeks and I"m up 176 PIPS. With one open trade, long USD.CHF.

IF you have been keeping record (with charts), I would be intersted in swapping data and analyazing your trades.
I will prepare charts with entries and exits sometime over the weekend. All my, MACD-related, trades were posted here on the board as well, as I wanted to keep it open to everyone interested. My biggest gain was 2 lots of cable which gave me 270 alone (90 + 180). You will see it when I post the chart. I prefer to close high-probability trades manually as the market develops in front of my eyes. This is, probably, some sort of acquired habit. Of course, I use MACD long or short signal as a basis. Thanks, all.
  • #808
  • Edited Feb 17, 2007 6:09am Feb 16, 2007 11:41pm | Edited Feb 17, 2007 6:09am
Quoting alcastro
Tamkras,

In which time zone do you live? I am in EST, and as I said in aprevious post, it would be nice if we could chat and analyze our trades at least 15 mins before the 4hr candle closing.
I am in EST, too, Canada. When I have time to enter the market, I will try to be online and attempt some snapshot analysis with you. Mind you, I am a bit slow-thinking, he-he.
  • #809
  • Edited 1:09am Feb 17, 2007 12:42am | Edited 1:09am
Quoting pips4uandme
Phillip,

I have a question regarding entry orders. Do you ever use entry orders around the 21 MA when you are unable to watch the market for the 4 hour period? Don't think I am asking very clearly. Like today, with the Eur, had I placed an entry order to go long at the 21, it would have been filled and the price bounced back to where it had been sitting for the last few days. Is it a good or bad or indifferent idea to use entry orders based on signal as long as you check them every 4 hours?

Thank you again for helping us all with your awesome system. I can honestly say that I joined Forexfactory just for this group and am following and testing this system only. Your support and nurturing of this group is wonderful and I can not send you enough thanks.

Yes you can. I use this strategy on my stocks trading. I use a weekly timeframe for my long term and a daily timeframe on my short to medium term stocks trading , and when the price goes up through the 89SMA I wait for a pullback to around the 21EMA and then enter on candle confirmation with my stop below 89SMA if that is not to big otherwise I skip. For stocks the best place to enter trades is on a pullback to the 21EMA.


I am not going to answer any questions regarding stocks as this is a forex forum. If you use the strategy above on stocks you will be succesfull.

Remember that if you do that by puting in an order beforehand you are taking the odds on. When taking the odds on you must remember that if there were 10 consecutive oppertunities it is of no use only participating in only 3 of them unless you make use of a filter system and then you can not put an entry order as you cannot filter the possible wrong ones.

I studied the approach and looks of the price action towards the 21EMA on a pullback that gave possitive results and only enter when that looks similar. Do that test through history and you will be able to do filtering beforehand.

Hope this help.
  • #810
  • Feb 17, 2007 4:06am Feb 17, 2007 4:06am
Quoting Phillip Nel
Yes you can. I use this strategy on my stocks trading. I use a weekly timeframe for my long term and a daily timeframe on my short to medium term stocks trading , and when the price goes up through the 89SMA I wait for a pullback to around the 21EMA and then enter on candle confirmation with my stop below 89SMA if that is not to big otherwise I skip. For stocks the best place to enter trades is on a pullback to the 21EMA.


I am not going to answer any questions regarding stocks as this is a forex forum. If you use the strategy above on stocks you will be succesfull.

Remember that if you do that by puting in an order beforehand you are taking the odds on. When taking the odds on you must remember that if there were 10 consecutive oppertunities it is of no use only participating in only 3 of them unless you make use of a filter system and then you can not put an entry order as you cannot filter the possible wrong ones.

I studied the approach and looks of the price action towards the 21EMA on a pullback that gave possitive results and only enter when that looks similar. Do that test through history and you will be able to do filtering beforehand.

Hope this help.

Hi Philip,
Interesting point. One question thou. Do you think this will work on weekly and daily forex charts too? Coz it would be useful while trading Options, it would also be useful for determining Trend directions.

Kevin
  • #811
  • Feb 17, 2007 4:16am Feb 17, 2007 4:16am
Quoting kevmcfoster
Hi Philip,
Interesting point. One question thou. Do you think this will work on weekly and daily forex charts too? Coz it would be useful while trading Options, it would also be useful for determining Trend directions.

Kevin

It works on any timeframe. Even 1minute bars. Go and test it and you will see.
  • #812
  • Edited 7:25am Feb 17, 2007 4:37am | Edited 7:25am
If you go to Forums and then Trading Systems you will see that little paperclip inside the red circle. If you click on that you will be able to acces all the attachments on the thread and save them to your Computor.

If you go to the last page on this thread you will see Thread Tools where the red rectangle shows Forum Tools and click on Thread Tools you wil be able to have a printable version of only the text which makes reading and turning to next pages quickly so it makes the speed of going through the thread asier.

Hope this helped.
Attached Image
  • #813
  • Feb 17, 2007 8:59am Feb 17, 2007 8:59am
Quoting Phillip Nel
If you go to Forums and then Trading Systems you will see that little paperclip inside the red circle. If you click on that you will be able to acces all the attachments on the thread and save them to your Computor.

If you go to the last page on this thread you will see Thread Tools where the red rectangle shows Forum Tools and click on Thread Tools you wil be able to have a printable version of only the text which makes reading and turning to next pages quickly so it makes the speed of going through the thread asier.

Hope this helped.
Phillip,
You came to my rescue!
I am planning to go through this tread from the begining to end this weekend.
(55 pages!)
You said there are Thread Tools. I don't find the tools here. Can you give some more information please? I want read the whole thread and I want to it faster by using these tools
Thank you.
-Chandra
  • #814
  • Feb 17, 2007 9:04am Feb 17, 2007 9:04am
As shown
Attached Image
  • #815
  • Feb 17, 2007 9:41am Feb 17, 2007 9:41am
Thanks, Phillip.
A few follow up questions...
There are several blue lines on your main chart, like 1.2802. How did you come up with those numbers? You seem to use them as tp/sl levels.
Also, your stop loss on the trade beginning on the 23rd of April, ending on May 4, you have a moving stoploss. How did you come up with that?
  • #816
  • Feb 17, 2007 9:49am Feb 17, 2007 9:49am
[quote=irusoh;215245]I find it difficult to follow MACD signals at times of good strong trend.

Hi Iruosh, i installed your tuned up indicator and has found it to be very helpful as i also find it were difficult to follow those signals too at times.this is vryy cool, irusoh, thanks to you and all those of this great forum.

O'Zeeke
  • #817
  • Feb 17, 2007 9:53am Feb 17, 2007 9:53am
I went into metatrader and took a screenshot of a random time frame. Then I copied it into photoshop and took a big black square and placed it over the candlesticks. I slowly moved the shape to the right and as i moved it i place a buy or sell next to placed i would have actually made trades. Let me know what you guys think of the trades I made.. good or bad? what other trades would you have made?

http://i8.photobucket.com/albums/a39...tled-2copy.jpg
  • #818
  • Feb 17, 2007 10:03am Feb 17, 2007 10:03am
Quoting Phillip Nel
Here are my analyses of those trades made in May2006.

1. Remember that when the price is trending it tends to come back to the 21EMA before continuing the trend. If you are in the trend you dont want to counter trade the trend. If you are not in the trend you must only consider counter trending when there is resistance evidence such as trendlines together with price level, MA, Fib, candle patterns etc.
2. If you counter tade the trend you must know that it is a risky trade and the gain sometimes is not so big. Profit must be taken somewhere between 8EMA and 21EMA.

Here is my chart
Phillip, regarding the counter trend trades.
You have given a very educative chart here! Two questions:
1. While you refused to take conter trades while in a trend trade (which I understand), why you did not add positions when you got signals in the direction of the trend? You could have increased your gain pips!

2. Before we catagorize a trade as a conter trend trade, we have to be convinced ourselves of the trend. How can we convinced of a trend?

(i) Can we say crossing the 89SMA is an indication of a trend?
OR
(ii) As you have said somewhere, 'corssing of the 89 SMA and then dipping to the 8 EMA-21 EMA range and, after that, going again back in the original direction proves that we are in a trend.
Thanks.
-Chandra
  • #819
  • Feb 17, 2007 10:22am Feb 17, 2007 10:22am
Quoting rp0029
Thanks, Phillip.
A few follow up questions...
There are several blue lines on your main chart, like 1.2802. How did you come up with those numbers? You seem to use them as tp/sl levels.
Also, your stop loss on the trade beginning on the 23rd of April, ending on May 4, you have a moving stoploss. How did you come up with that?
The 1.2802 is the 1.2800 price level horizontal line. I just put it as close to 1.2800 as possible otherwise I have to go to its properties and set it there. 1.2805, 1.2800, 1.2795 for me OK. I dont work to the exact pip on the 4 Hour. If it reaches the area of the price level I take action.
The moving stop was after I was at breakeven and have some partial gain I set a moving stoploss as I was not able to watch the rest of the trade. I want to give it the chance that should it run to gain but if it turn around to at least not being taken out at breakeven but to gain something above breakeven.
  • #820
  • Feb 17, 2007 10:31am Feb 17, 2007 10:31am
Quoting Chandra
Phillip, regarding the counter trend trades.
You have given a very educative chart here! Two questions:
1. While you refused to take conter trades while in a trend trade (which I understand), why you did not add positions when you got signals in the direction of the trend? You could have increased your gain pips!

2. Before we catagorize a trade as a conter trend trade, we have to be convinced ourselves of the trend. How can we convinced of a trend?

(i) Can we say crossing the 89SMA is an indication of a trend?
OR
(ii) As you have said somewhere, 'corssing of the 89 SMA and then dipping to the 8 EMA-21 EMA range and, after that, going again back in the original direction proves that we are in a trend.
Thanks.
-Chandra

1. I never add to a position because I can add to a losing position. And then their is the emotion of greed if it goes well and then you risk more than 5% of capital.
2. If you risk 3%-5% of your capital on a single position you cannot add to it as you will not survive bad times.
3. You can only add if your risk is below 3% of your capital.
4. When the price goes above the 89SMA and it pulls back to around the 21EMA and then goes up above the previuos high and the resistance is way above I consider it as a trend and if I have an open position I will try to stay in it till the 21EMA is broken.
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