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4 Hour Strategy (MACD)

  • #17,161
  • Sep 25, 2008 10:05pm Sep 25, 2008 10:05pm
Quoting Deja
I would like to give something back after benefiting so much from Phillip and the good peeps on this thread. So here's a transcript of Phillip's last mp3, (with very minor ommisions and/or additions). If this works out for most of you with problems hearing the mp3, I am willing to do it again (hope I'm able to work it around my job).

I hope it's not a very bad way of giving back to the community. Tell me how it rates. Cheers!

Really thank you. when i listen Phil's mp3 i understand %45-50 of what he really means and emphisize because of my english. But when i read that mp3's transcript i really got the point in his situation explanation. please keep on transcript.
  • #17,162
  • Edited Sep 26, 2008 12:02am Sep 25, 2008 10:58pm | Edited Sep 26, 2008 12:02am
Quoting Palmer
Here's a thought; IF the 4hr is setting up for a high probability TC, trade the 5min for that entire 4hr candle. If you go in with 3 lots and the 5min takes off. Take profit on two of those lots and leave the third lot at a 'normal' SL. If it gets stopped out, keep monitoring the 5min fo set-ups BUT ONLY IN THE DIRECTION THAT THE 4HR TC IS TELLING YOU TO GO. Take those 5min trades within that 4hr candle direction and chances are that you will get in very very early. This takes a lot of chart time though....Nice charts!!!

Volatility Volatility Volatility...
Yeah, Palmer, we consider same thing.

If my capital larger, I will have much room to set my risk mangement, which larger my sl with some certain lots. To me, the stability is the first I consider of, which means NEVER LOSE first. Then is to obtain big profit.

If big TF to short TF all show same direction signal, that's absolutely a HIGH PORBABLILITY TRADE that one should not miss, and he needs to obtain some little profit in pocket firest and then to try to obtain large profit. But I don't think during 4h time, if my first 5min sl is touched, I should consider some re-enter at 5min, because if so, price has moved some distance already, the signal of 4h has losen some of its power already, thus the only rest is 5min signal which still means much volitile. If you re-enter, price may touched your sl again and makes you more lose. So, for me, good enter opportunity is the first fact of a successful trade.

It is hard for every kinds of tradings in every market, which is Three High, if some guy can achieve this three high, high probablity, high profit, high amount of trades

That's unbelievable unbelieveable unbelieveable...http://www.tusiji.com/images/48f1e44202000n9k.gif
Plan your trades and trade your plans
  • #17,163
  • Sep 26, 2008 3:57am Sep 26, 2008 3:57am
hi guys -

what does it means (attachment) , is it BZ ? and if it is , is it counts as high prob. trade - and I should short within the next candle opening (tp in the 200ma - in yellow)?

thanks.
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  • #17,164
  • Sep 26, 2008 4:13am Sep 26, 2008 4:13am
Quoting Barak's pip
hi guys -

what does it means (attachment) , is it BZ ? and if it is , is it counts as high prob. trade - and I should short within the next candle opening (tp in the 200ma - in yellow)?

thanks.
its a little late to answer but look at those to circles wich are strong supports for me .but if u have sold u could have some profits
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  • #17,165
  • Sep 26, 2008 4:27am Sep 26, 2008 4:27am
Quoting brettboz
I think with hindsight, there may have been a fairly risky CT on G/U today on my charts GMT+2. Let me explain;

First off the is a spike which I think I mentioned earlier in the day right on previous resistance. Then there is divergence between price and MACD. Then there is a round top. The original red MACD CT signal was way too much risk but the 50% retrace of the move gave around 67 pips risk which I could have taken if using a half lot size. Since hitting the 50% retrace price has dropped like a bomb.

My take on it for the moment is that it will reach the first fib retrace at 8379 and then it may come back up to test the resistance in the form of the 21 (which is according to rules - prices moves through and then comes back to MA).
Of course this is like looking into a crystal ball, but who knows.
Well it actually moved down further than the first fib level and touched the 50% retrace of the move up. Then as predicted it came back to the 21 (following rules, went through 21 then back to it). I shorted on the TC off the 21 this morning and just closed half the trade at 30 pips leaving the other half open.

The original signal candle was too big so I took a short on the 50% retrace of this candle and even then I only too half my normal lot size because the stop was still 62 pips.

The reason I closed half at 30 pips was it seems to be finding support on the short term trend line forming on the 1H and I'm worried it might again test the upside before going for the 200.
  • #17,166
  • Sep 26, 2008 4:29am Sep 26, 2008 4:29am
Quoting bshadroo
its a little late to answer but look at those to circles wich are strong supports for me .but if u have sold u could have some profits
I prefered the G/U setup this morning. E/U seemed to have the MA's too bunched together for my liking.
  • #17,167
  • Sep 26, 2008 4:39am Sep 26, 2008 4:39am
Quoting brettboz
I prefered the G/U setup this morning. E/U seemed to have the MA's too bunched together for my liking.
GU is in an up channel,can goes up again but i dont like that sharp decline
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  • #17,168
  • Sep 26, 2008 4:48am Sep 26, 2008 4:48am
thanks bashadroo ,

here is another point of view for g\u , it's a litlle different in my charts ...

it maybe a diamond pattern .or maybe a bullish flag ?
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  • #17,169
  • Sep 26, 2008 4:55am Sep 26, 2008 4:55am
Quoting bshadroo
GU is in an up channel,can goes up again but i dont like that sharp decline
Yep could well do that I think off the 200, but the big spike off the 50% fib retrace is also a warning sign that there is some good support in that area. By the way that 50% retrace happens to sit on psych level 8300. I love it when we see overlapping technicals....
  • #17,170
  • Sep 26, 2008 10:04am Sep 26, 2008 10:04am
Lets see which way will the price go, next week.
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  • #17,171
  • Sep 26, 2008 10:43am Sep 26, 2008 10:43am
Quoting Nigel
Lets see which way will the price go, next week.
yes,and we have a H1 triangle also
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  • #17,172
  • Sep 26, 2008 7:24pm Sep 26, 2008 7:24pm
I pick up!! Strong trend up!

How can I add a screenshot?

Regards
  • #17,173
  • Sep 26, 2008 9:40pm Sep 26, 2008 9:40pm
Quoting monotomia
I pick up!! Strong trend up!

How can I add a screenshot?

Regards
Look for a button "Manage Attachment" under "Additional Options" located just below the text box where you typed your messages.
  • #17,174
  • Sep 26, 2008 10:46pm Sep 26, 2008 10:46pm
Hi Saka,
Here is a written version of POST 16957 PAGE 1131 which I found very interesting. Thanks Phil for all your teachings.
Attached File(s)
File Type: txt INFO.txt   5 KB | 523 downloads
  • #17,175
  • Sep 27, 2008 4:54am Sep 27, 2008 4:54am
Quoting xeneric
Hi Saka,
Here is a written version of POST 16957 PAGE 1131 which I found very interesting. Thanks Phil for all your teachings.
absolutely appreciated for that
Plan your trades and trade your plans
  • #17,176
  • Sep 27, 2008 6:08am Sep 27, 2008 6:08am
system 4 Hour Strategy, if i have money 1000$ how money should trading %,thank you in advance sir
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  • #17,177
  • Sep 27, 2008 7:18am Sep 27, 2008 7:18am
for those of us that live in nigeria G.M.T +1.00)West Central Africa,pls convert your time 9.00am, 1:00pm and 5:00PM EST under DST to my own time G.M.T +1.00 West Central Africa.thanks do much.
Quoting Phillip Nel
Hope you took this one

A. 1 Profit already in at 20 pips for 4 minilots
B. Have Set stoploss to 10 below entry for 6 minilots lots with 2 Prof(4 minilots) set at 1.2945


Just want to add that the rule says that when the price goes through the 89SMA it tends to pull back to the 21EMA before proceeding the trend. We have a situation now where the price went down through the 89SMA and has pulled back to the 21 EMA. Be aware of that. I have set my stoploss at 1.2905(10 below entry) to combat the move should the price comes down. The MACD will show me when the trend is continued below the 89SMA and then I will enter short.

I just have a feeling that we are going to see a test of the 89SMA.


Update:
Just closed other 4minilots at 1.2945 and set stop on other 2minilots at 1.2940
Update:
Closed other 2minilots at 1.2960
Update:
Total for the day was .4lots @ 20 pips, .4lots @ 30 pips and .2lots @ 45 pips for a total of 29 pips on a full lot
  • #17,178
  • Sep 27, 2008 8:47am Sep 27, 2008 8:47am
Quoting mr.krai
system 4 Hour Strategy, if i have money 1000$ how money should trading %,thank you in advance sir
Phillip mentioned 2% risk for each trade and I think it's pretty safe to use 2% for each trade.
  • #17,179
  • Sep 28, 2008 12:08am Sep 28, 2008 12:08am
Quoting mr.krai
system 4 Hour Strategy, if i have money 1000$ how money should trading %,thank you in advance sir
Yes. Only trade 2% of your capital. If not, you'll very soon run out of money. If you trade 5%, you can only go wrong 20 times. It is certainly not comfortable seeing your capital cut into half after having 10 consecutive losses.

Use this excel spreadsheet to calculate the number of lots you should be trading. I've done the first row for you. Just change the figure under the Stop Loss column.

In short, you can only risk $20 with $1000 capital.

Happy pipping.
Attached File(s)
File Type: xls Money_Management_Eng.xls   23 KB | 789 downloads
  • #17,180
  • Sep 28, 2008 2:00am Sep 28, 2008 2:00am
hijackxx,Nigel .thank you very much again
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