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4 Hour Strategy (MACD)

  • #941
  • Edited 8:59am Feb 21, 2007 8:03am | Edited 8:59am
Quoting turk87
EUR.USD the macd went negative, and now has shot back up into positive. You would consider this a BUY MACD signal, correct Philip???

Yes. But trendline resistance (that has already proof to be resistance) is to closeby so R:R not good. Will skip this one.
  • #942
  • Feb 21, 2007 10:46am Feb 21, 2007 10:46am
Just look at the tail on the UsdJpy.
I dont trade the UsdJpy as yet. Busy with some backtesting. This is only to show how they take out the stops before going on with the trend.
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  • #943
  • Feb 21, 2007 10:55am Feb 21, 2007 10:55am
While we are waiting on the EurUsd and GbpUsd for some direction, if someone have backtested other pairs with the MACD give us some feedback please. I see some people doing well on the UsdCad.
Thanks
  • #944
  • Feb 21, 2007 11:22am Feb 21, 2007 11:22am
Hi Phillip

Thanks for the system. I am relative new to Forex (demo trading for 3 years) and live now for a few months. I did experiment with several system like you and I am impressed with your system. I see from your backtesting that you've used all the various signals from the MACD and in your pdf file you mention to use only the obvious signals. DO you have any records where you use only the obvious signals?

I'll do the backtesting with only 2-3 types of signals over the weekend.

Tx

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
  • #945
  • Feb 21, 2007 11:38am Feb 21, 2007 11:38am
  •  Trader#0000
  • | Status: Unregistered Trader
Many Thanks Philip for this system.

I am a macd fan too !

This is my macd... maybe it will complete the picture a bit for us.

I will try and upload a 4h Yen here .... middle macd is your setting. I can see where the vertical line is on yours eg it crosses 0 for a buy ..it is a safe setting.

Goedgaan
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  • #946
  • Feb 21, 2007 12:46pm Feb 21, 2007 12:46pm
Hey All,

Here is my chart on the EURO. Above the trend line that was drawn off the Dec. 8 and Jan 2 it looks like we are through and getting a bounce, How do we know when the 4 hour strategy is ready. The 50,89 and the 200 are heading apart. Is this significant since it is coming out of the pennant formation. I am just trying to learn the rules, guys.

Thanks, Jim
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  • #947
  • Feb 21, 2007 1:14pm Feb 21, 2007 1:14pm
Hi Jim and all,

I have a trend line I drew starting at the Beginning decemer and hit again at the beginning of January, and the past couple days, but mine shows that it has not penetrated past the TL in an upward trend as subsequently is bouncing off of it as resistance. TL are somewhat subjective, but we're in need to know territory for when it does finally break we have planned accordingly.

Anyone else have this? I could very well be mistaken.


Thanks!
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DireXiv Make it happen, no one else is going to do it for you...
  • #948
  • Feb 21, 2007 1:19pm Feb 21, 2007 1:19pm
Dire,

This is what scares me about trading. you could have different brokers and find different candle patterns. It almost makes you wonder, doesn't it.

FXDD here

Jim
  • #949
  • Feb 21, 2007 2:15pm Feb 21, 2007 2:15pm
Quoting hard1head1
Dire,

This is what scares me about trading. you could have different brokers and find different candle patterns. It almost makes you wonder, doesn't it.

FXDD here

Jim
Jim, it is so true. That's why I like to look at a bigger picture, including daily patterns. Sometimes, with 4HR charts I am doing a mental blend of the adjacent candles, e.g. a pattern of a bearish piercing candle can be recognized from 1 broker and it is different from another. However, a shooting star still works for me. Have a look at this charts (courtesy of StockCharts.com). Yours, Tamkras.
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  • #950
  • Feb 21, 2007 2:28pm Feb 21, 2007 2:28pm
Philip,

Quoting Phillip Nel
I use previous highs, price levels and then Fibonacci and sometimes also pivots. My other one is that the EurUsd moves in beats of 60pips or half beats. So it is 30,60,90,120. If there is no other indication I will use the beats.
I was wondering about this problem too. On page 14 of the pdf you show Fibs. Can you explain your use of them?

Any more examples of Fibs please and also of your use of Pivots.

Also #942 'to show how they take out the stops '
Who are "they"

R
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  • #951
  • Feb 21, 2007 2:43pm Feb 21, 2007 2:43pm
Quoting hard1head1
Hey All,

Here is my chart on the EURO. Above the trend line that was drawn off the Dec. 8 and Jan 2 it looks like we are through and getting a bounce, How do we know when the 4 hour strategy is ready. The 50,89 and the 200 are heading apart. Is this significant since it is coming out of the pennant formation. I am just trying to learn the rules, guys.

Thanks, Jim

When the MA's spread apart it means there is a possible trend forming, but you have to wait for confirmation before jumping into anything for we are ranging right now, and it can be very costly to assume
  • #952
  • Feb 21, 2007 3:45pm Feb 21, 2007 3:45pm
May be retracing soon. Keep an eye on it... I rode it all the way down... let's try and ride the retrace if we get the signal since the eur/usd and gbp/usd still have nothing for us....
DireXiv Make it happen, no one else is going to do it for you...
  • #953
  • Feb 21, 2007 3:59pm Feb 21, 2007 3:59pm
Hey guys,

I just posted a chart that I show my usd/cad trade today that made major pips today... 184 to be exact on 3 lots. I included a short explanation, and it shows my trend lines, and resistance/support lines along with what I did to take profits and when I closed.

If this is helpful I'll do it for my successful trades... So let me know.

So far this week I have taken 396 pips on 5 trades, one bad one for a 16 pip loss.

Note: the chart I just put on my website, the stop loss was GREAT. I set it at 5 pips above the earlier highest candle right above the major resistance line I have shown... virtually no risk on this trade. We need more of these.

BTW: I have 2 21" flatscreens side by side for work, and they come in real nice for forex trading too. If you are serious about this I would reccommend at least 1 24" screen to see the whole picture.

http://forex.direxivengineering.com/

Pips for all!
DireXiv Make it happen, no one else is going to do it for you...
  • #954
  • Edited 4:37pm Feb 21, 2007 4:25pm | Edited 4:37pm
Sold 2 lots GBP/USD at close of 0:00 GMT Candle 1.9535
TP Lot 1 @ 1.9519 Move Lot 2 to BE
Target #2: 1.9485

Before finishing post, Lot one closed out for +16 pips & Lot 2 is free ride

Reasons for trade:

1. Price at confluence of 21 & 8
2.. Price below 89 -- bias is for selling
3. MACD turn towards 0 line (sell signal triggered)
4. Harami Candle

Stops are tight because market is range bound at moment and direction looks unsure. Used 200 SMA on Hourly chart for first TP and BE point.

second lot has been closed out at BE. for 36 minutes worth of work 16 pips were generated (21 w/spread)
  • #955
  • Feb 21, 2007 4:27pm Feb 21, 2007 4:27pm
the MACD, still one of the best indicaters ... without all the bells and whistles! I had one seller of bells and whistle indicators tell me if I still use the obsolete MACD .... I deserve to lose! I told him the MACD works well for me and I didn't need his opinion nor his expensive products. Guess who's laughing now? IMO


This Method has a lot of Merit .... and works well ..... IMO
  • #956
  • Feb 21, 2007 4:28pm Feb 21, 2007 4:28pm
DireXiv

Nice work on your weekly trades! Like you, I use 2 screens for trading. I use one for my tradestation and one for charts.
  • #957
  • Feb 21, 2007 4:32pm Feb 21, 2007 4:32pm
Quoting ut2DaMax
the MACD, still one of the best indicaters ... without all the bells and whistles! I had one seller of bells and whistle indicators tell me if I still use the obsolete MACD .... I deserve to lose! I told him the MACD works well for me and I didn't need his opinion nor his expensive products. Guess who's laughing now? IMO


This Method has a lot of Merit .... and works well ..... IMO
LOL w/regards to the vendor!! Agree w/you that MACD is a great signal generator w/lots of merit!!! We'll survive any market b/c we will be able to read the signs and make sensible business decisions. Unlike a black box that goes crazy in all environments!
  • #958
  • Feb 21, 2007 4:35pm Feb 21, 2007 4:35pm
Quoting hard1head1
Dire,

This is what scares me about trading. you could have different brokers and find different candle patterns. It almost makes you wonder, doesn't it.

FXDD here

Jim
Hi hard1head1,

That's why it is so important that we are able to read and understand the signals given by our charting packages. The timing of our trades may be a bit different, but the results should be similar if we know how to interpret the signs
  • #959
  • Feb 21, 2007 4:40pm Feb 21, 2007 4:40pm
I am currently using gft - very good and easy charting, and I also use MIG. So, I'm "cross" interpolating signals. Make a bit difficult sometimes, but also provides confirmation too.

Quoting pips4uandme
Hi hard1head1,

That's why it is so important that we are able to read and understand the signals given by our charting packages. The timing of our trades may be a bit different, but the results should be similar if we know how to interpret the signs
DireXiv Make it happen, no one else is going to do it for you...
  • #960
  • Feb 21, 2007 4:44pm Feb 21, 2007 4:44pm
Pip,

I think I can get the charts done, its knowing when to get in is my problem. I would have never known to get in the pound on that candle. All I want is 5 pips a day. Thats all you really need, just pile on the lots.

Jim
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