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4 Hour Strategy (MACD)

  • #981
  • Feb 22, 2007 2:22am Feb 22, 2007 2:22am
Something to chew on
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File Type: zip GbpUsd.zip   571 KB | 1,783 downloads
  • #982
  • Feb 22, 2007 2:30am Feb 22, 2007 2:30am
Had open the trade a couple a days ago (MACD was sort of trend continue) and should have taken some profit yesterday after the usd colapsed 20+ pips but i was not in front of my desk. Anyway it was a little bit risky i guess because the prise was over the 8 and 21 mas. What do u thing? Was it a good setup?
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  • #983
  • Feb 22, 2007 2:34am Feb 22, 2007 2:34am
Quoting pips4uandme
Hi Mandoaddam!

Maybe my image is incorrect, but I think the reason we end up w/fewer pips is b/c we move our trades to breakeven at the MA's and take partial profits. The way the market has been this week for EUR & Cable have caused my trades to close at breakeven after partial profits. The point is to have the opportunity to make 100 pips without taking on too much risk. In 7 days, with 4 trades, this system has generated 190 pips for me on cable and swissie. This makes me very happy , but I think I may move my stop too soon (usually around +20).

This is the right way at the beginning. First shy. I have also done that in the beginning. Taking partial profits at MA's and then set stoploss to breakeven makes the gain smaller as you split up your position. As you grow with the system you will get the feeling as the motion will tell you when the price is going to go through a MA and then you will move your stop to 20 or so pips away from the MA to give the chance to ride it all the way. The more you drive the more you will learn and make full use of your knowledge.
  • #984
  • Edited 2:55am Feb 22, 2007 2:43am | Edited 2:55am
Quoting bisar_x
Had open the trade a couple a days ago (MACD was sort of trend continue) and should have taken some profit yesterday after the usd colapsed 20+ pips but i was not in front of my desk. Anyway it was a little bit risky i guess because the prise was over the 8 and 21 mas. What do u thing? Was it a good setup?
Nothing wrong with the MACD signal and your entry. I did not enter around there because of the emotion of the market and the size of the stoploss. The trendline could become support on a bullish mood up to that stage with the price moving above the T/L. I did enter short on the evening star my graph has shown but after 4 candles and nothing happening I closed on breakeven. Was not sure of the direction at that stage.
The MACD has however again shows its power to give direction.
  • #985
  • Feb 22, 2007 2:47am Feb 22, 2007 2:47am
Have close 50% @ 1.9465 (60pips on half position) and set stoploss to 1.9500 to give me the oppertunity should it break the trendline down.
  • #986
  • Feb 22, 2007 2:55am Feb 22, 2007 2:55am
Hi Philip,
thanks for sharing. What does the MACD arrows on the chart indicate? thank you
  • #987
  • Feb 22, 2007 3:00am Feb 22, 2007 3:00am
Excellent Phillip, excellent. I enjoy making and losing money with you, and everyone else here

How much further do you think the EURO can dip? I will set my stop to a break even, I went short at 1.3129
  • #988
  • Feb 22, 2007 3:08am Feb 22, 2007 3:08am
Quoting turk87
Excellent Phillip, excellent. I enjoy making and losing money with you, and everyone else here

How much further do you think the EURO can dip? I will set my stop to a break even, I went short at 1.3129
It found some support at 1.3090 the low of 16/02/2007 more or less. I hav't look at the daily pivots but the rule says that when a trend is changed the price normally crosses the 21EMA and then test it again before moving down to the next MA in this case the 89SMA as it comes of the 21EMA.

Time will tell. I think it will show very soon what is going to be the motion.
  • #989
  • Feb 22, 2007 3:24am Feb 22, 2007 3:24am
Quoting IFT
Hi Philip,
thanks for sharing. What does the MACD arrows on the chart indicate? thank you

If you refer to the red down arrow it is the candle Bizar_x made his entry after the MACD gave a short signal.
  • #990
  • Feb 22, 2007 3:30am Feb 22, 2007 3:30am
Quoting turk87
Excellent Phillip, excellent. I enjoy making and losing money with you, and everyone else here

How much further do you think the EURO can dip? I will set my stop to a break even, I went short at 1.3129

If you enjoy the mix of winning and loosing you are on the right track as it means that the winning is more than the losing and that is what it is all about. If your winnings in pips is more than your loosers you are on the winning path.
  • #991
  • Feb 22, 2007 3:32am Feb 22, 2007 3:32am
Quoting Phillip Nel
If you refer to the red down arrow it is the candle Bizar_x made his entry after the MACD gave a short signal.
Yes, I refer to the blu and red arrows. So they form after the MACD signal.
thanks
  • #992
  • Feb 22, 2007 3:48am Feb 22, 2007 3:48am
Got stopped out @ 1.9500 with 50% of position

Entry 1 lot @ 1.9527

Partial profit 50% @ 1.9465 = 60 pips gain
Stopped out remaining 50% @ 1.9500 = 25 gain

Total = 60 + 25 = 85/2 = 42.5 pips gain on full lot.
  • #993
  • Feb 22, 2007 3:54am Feb 22, 2007 3:54am
Phillip,

Thank you for the detailed explainations on entry for GBP and to EUR question! Particularly appreciated you calling our attention to the 2 round tops made by the 8 and 21. Each day I learn something new from this thread and have an AHA moment. I can not thank you enough for helping us all become better (and profitable) traders!
  • #994
  • Feb 22, 2007 3:56am Feb 22, 2007 3:56am
Quoting IFT
Yes, I refer to the blu and red arrows. So they form after the MACD signal.
thanks
It was put in manually. It is not automatic or part of the system.
  • #995
  • Edited 4:31am Feb 22, 2007 4:19am | Edited 4:31am
Cup and handle on usdcad. MACD round bottom.
That means going up?
First TP should be arround Fibo 38 retracement.
The second level is the TL.
Lets see what will hapen.
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  • #996
  • Feb 22, 2007 4:35am Feb 22, 2007 4:35am
Some info
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File Type: zip EurUsd.zip   570 KB | 1,532 downloads
  • #997
  • Feb 22, 2007 4:36am Feb 22, 2007 4:36am
standing with 50% on euro 55 pips. The news was good for euro but, the it moved up by only 10 pips and now is falling. Obviously the trend is short.
Sorry, i saw the 15 min chart. After breaking the 89 on 4h we can say that we have a trend change.
  • #998
  • Edited 5:19am Feb 22, 2007 4:45am | Edited 5:19am
Have set stoploss at 1.3106

I still expect further downmove to 89SMA.

Update:
See post 1000. Could have run into support
  • #999
  • Feb 22, 2007 4:53am Feb 22, 2007 4:53am
Quoting Phillip Nel
Have set stoploss at 1.3106

I still expect further downmove to 89SMA.
If it breakes 89ma we should expect to go to the 200ma (btw its arround 1.3000 - big emotional level) ?
But i guess the way may be too long.
  • #1,000
  • Feb 22, 2007 5:10am Feb 22, 2007 5:10am
Some info
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File Type: zip EurUsd.zip   312 KB | 1,341 downloads
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