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4 Hour Strategy (MACD)

  • #17,301
  • Oct 4, 2008 3:08am Oct 4, 2008 3:08am
Quoting YouGee
Hello everyone! Firstly, I want to say thank you to Phillip Nel for this strategy sharing. I liked it very much, but i recognized that my MACD graphic is a little bit different than everyone is showing in other posts. For example post Nr. 17296. Please, can anybody tell me why my MACD signals are not the same as you are showing. I use Metatrader 4.
Hi and welcome! In metatrader you can download and choose different servers (brokers) with different time zone settings. The difference in our timezones make our charts and indicators look different from eachother. For example, if you havent downloaded any extra serverfiles you probably have the default server(broker) in metatrader which is ODL Securities and they use the timezone GMT+0. Now, you can download any serverfile with pretty much any timezone. If im not misstaken phillip uses a server with timezone GMT+2.

However that the charts look different is not really important, the method applies to all of the different timezones and you do not need to use a particular server(broker) if you want to trade this method.
  • #17,302
  • Oct 4, 2008 3:23am Oct 4, 2008 3:23am
Quoting YouGee
Hello everyone! Firstly, I want to say thank you to Phillip Nel for this strategy sharing. I liked it very much, but i recognized that my MACD graphic is a little bit different than everyone is showing in other posts. For example post Nr. 17296. Please, can anybody tell me why my MACD signals are not the same as you are showing. I use Metatrader 4.
Hi and welcome,
i wanted to reply your question, but ekling was quicker. As I know, many people on this thread are use MIG broker, which is GMT + 2, include Phillip.I want to add - draw trendlines to your chrats, fibo levels etc and start looking for price action.This is good thread to start. Happy pips
  • #17,303
  • Oct 4, 2008 5:50am Oct 4, 2008 5:50am
Thank you guys for your detailed answers
  • #17,304
  • Oct 4, 2008 7:03am Oct 4, 2008 7:03am
Quoting Serkan
I am -40 now. I entered when the new bar opened with a 0,5 lot. It pulled back to %50 of the signal bar in a short time. Stop is below %68 fib level.

So, I could have entered a 0,5 lot more at %50 fib level but couldn t decide what to do. Was I wrong in entering this trade at the very beginning? Should I have entered more lots when at %50 fib retracement?
That is why I will never let a 30pip gain run into a loss if I can help it. The price closed on 1.3859 signal candle and the high thereafter was 1.3909 and that is 50pips. There is no way I will let a price ran 40+ in my favor and then let it turn around into a loss. There was nothing wrong with the signal. Just some management. This could be the area where we are going to see a turnaround and therefore some real indicision untill the true direction is given. Therefore take some partial profit off the table. You could have closed 50% for 30pips and let the rest at breakeven. That is what I would have done. I would hav closed 50% after +20pips and set remainder at BE.
  • #17,305
  • Oct 4, 2008 11:38pm Oct 4, 2008 11:38pm
Hi,

I am currently using the oanada and it does not had 4hr.
it currently only has 3 hr available. Although it has a macd, however,
i am not able to change the range setting as similarly to what Phillip
written in the "4hr macd forex strategy'.

therefore, i am using the MT4 platform to analysis and plan my trade.

Anyone has tried using the MT4 and there after place the trade at other platform beside oanada?
Is the result still as valid?

I couldnt backtest too much as onanda is pretty restricted.

regards
vincent
  • #17,306
  • Edited 1:42am Oct 5, 2008 1:22am | Edited 1:42am
Quoting vincentlim
Hi,

I am currently using the oanada and it does not had 4hr.
it currently only has 3 hr available. Although it has a macd, however,
i am not able to change the range setting as similarly to what Phillip
written in the "4hr macd forex strategy'.

therefore, i am using the MT4 platform to analysis and plan my trade.

Anyone has tried using the MT4 and there after place the trade at other platform beside oanada?
Is the result still as valid?

I couldnt backtest too much as onanda is pretty restricted.

regards
vincent

Hi Vincent,

Welcome to the thread. We all use MT4 because Phillip uses MT4 in all the trades and lessons posted in this thread. However you are free to use any broker you like to place your trades. It is best to use MIG or Alpari for your MT4 as Phillip uses MIG. If you use MT4 from another broker, you have to keep in mind that there will be time differences. The 4 hr candles may close at different times and look different to Phillip's. MIG uses GMT+2 time. The broker that you use may quote differently to the quotes on your MT4 but you can still do your analysis and backtesting using MT4.
  • #17,307
  • Oct 5, 2008 7:40am Oct 5, 2008 7:40am
Quoting Serkan
I am -40 now. I entered when the new bar opened with a 0,5 lot. It pulled back to %50 of the signal bar in a short time. Stop is below %68 fib level.

So, I could have entered a 0,5 lot more at %50 fib level but couldn t decide what to do. Was I wrong in entering this trade at the very beginning? Should I have entered more lots when at %50 fib retracement?
i usually follow the price in samller TF to get out earlier if i feel danger(its my own idea and maybe phillip dont agree with me).when i look at ur trade in 5minute TF i see first price went to 50pips profit(u didnt close it or at least half wich was first mistake) and then came down and made an sHs and u have the chance to close it -15pips(second mistake).obviously adding to such a position in 50% retracement of H4 candle was another mistake because price was showing that he want going down again.
anyway, iyi shanslar sana gelen haftada
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  • #17,308
  • Oct 5, 2008 1:39pm Oct 5, 2008 1:39pm
Dear my friends; thank you for your explanations in your own wiev. your point of view proposes me a more detailed and strategic follow up. I wonder what phillip thinks about wacthing price action in 5 mins timeframe?. It looks a lot better in this stuation but can it create an obscure understanding of the situaion in general.

So Nice to meet you again. I wish we can have more conversations both here and private or maybe in the real world.

sincerely.
  • #17,309
  • Oct 5, 2008 2:35pm Oct 5, 2008 2:35pm
Quoting Serkan
Dear my friends; thank you for your explanations in your own wiev. your point of view proposes me a more detailed and strategic follow up. I wonder what phillip thinks about wacthing price action in 5 mins timeframe?. It looks a lot better in this stuation but can it create an obscure understanding of the situaion in general.

So Nice to meet you again. I wish we can have more conversations both here and private or maybe in the real world.

sincerely.
Serkan:

Phillip has a 5min method as well. But remember, the 5min trend (or entire days worth of trading) can take place within one 4hr candle.

Website is updated...
  • #17,310
  • Oct 5, 2008 11:45pm Oct 5, 2008 11:45pm
I'm back in Asia now and opened my charts this morning. Most of the USD pairs had a >100 pip gap this morning. Except for the GU. This happened to be smooth and forming a nice TC pattern. The gaps should be the result of the bail out package. I took the GU short before lunch. I aimed for the 00 which was 27 pips below. Target reached.

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  • #17,311
  • Oct 6, 2008 4:10am Oct 6, 2008 4:10am
i just want to appreciate Phil for the time and efforts he took in putting together the 4hr MACD strategy.....many thanks. i started using the strategy on 19th of September after downloading all the pdf's, mp3's and zip folders. i listened and read them day in day out until i finally got the gist. i set off trading on a $500 demo account and after three weeks, my account grew to $2883.40. the last trade i took was USDCAD on 30th September (it lasted for 3 days) which gave me the highest profit so far. the reason being that the trend started in my presence so i did not set a TP but rather trail stop it till it took me out due to the resistance of the 1.0800 mark. it finally broke the resistance but am already preparing for church and have to leave. Thank goodness i left as it retraced strongly before finally heading that way. All the same, i really appreciate Phil for his dedication to this thread.
i must comment palmer too. thank you all. LOL
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  • #17,312
  • Oct 6, 2008 4:11am Oct 6, 2008 4:11am
Yes today I saw signal TC in many pairs, I would like to know if you guys trading this system take those signals that appear during Sunday and early Monday?

Thanks
  • #17,313
  • Oct 6, 2008 4:27am Oct 6, 2008 4:27am
i am looking forward to short EURUSD as soon as the open 1HR candle closes based on BLADE RUNNER 1HR METHOD as a TC. Look to GBPUSD and AUDUSD also.
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  • #17,314
  • Oct 6, 2008 6:20am Oct 6, 2008 6:20am
Quoting hefhem911
i am looking forward to short EURUSD as soon as the open 1HR candle closes based on BLADE RUNNER 1HR METHOD as a TC. Look to GBPUSD and AUDUSD also.
sorry there was no blade runner.
  • #17,315
  • Oct 6, 2008 8:59am Oct 6, 2008 8:59am
Quoting hefhem911
i just want to appreciate Phil for the time and efforts he took in putting together the 4hr MACD strategy.....many thanks. i started using the strategy on 19th of September after downloading all the pdf's, mp3's and zip folders. i listened and read them day in day out until i finally got the gist. i set off trading on a $500 demo account and after three weeks, my account grew to $2883.40. the last trade i took was USDCAD on 30th September (it lasted for 3 days) which gave me the highest profit so far. the reason being that the trend started in my presence so i did not set a TP but rather trail stop it till it took me out due to the resistance of the 1.0800 mark. it finally broke the resistance but am already preparing for church and have to leave. Thank goodness i left as it retraced strongly before finally heading that way. All the same, i really appreciate Phil for his dedication to this thread.
i must comment palmer too. thank you all. LOL
Congratulations! That is VERY impressive. I have a question though. How much did you risk on each trade?
  • #17,316
  • Edited 9:44am Oct 6, 2008 9:31am | Edited 9:44am
do u know whats happenig in this market ?audusd breaked all the supports and droped 200pips in 9 minutes and gold is going up at the same timeand YEN in falling,maybe there is something with carry trades
very scary market
edit:it goes to 0.6990(200 lows in few minutes)
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  • #17,317
  • Oct 6, 2008 10:45am Oct 6, 2008 10:45am
bsh:

The US markets have now turned into a global problem. This is crazy stuff....
  • #17,318
  • Oct 6, 2008 11:12am Oct 6, 2008 11:12am
Really hard to get on board. I wanted to be short of EURJPY, Cable and Ozzie but could not see an entry this morning. Well, I could but the SL was huge and all the money management was wrong. I sat on my hands. Friday's close on the EURJPY might have tempted me in with resistance off 4H trendline and the Ozzie was finding it hard to break above 8EMA, but I was at a wedding. There is always another day and besides I watch 9 Pairs. Good luck all.
  • #17,319
  • Edited 11:49am Oct 6, 2008 11:38am | Edited 11:49am
I thinks weekly this get down to arrive support 200 sma
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  • #17,320
  • Oct 6, 2008 3:48pm Oct 6, 2008 3:48pm
Quoting hefhem911
i just want to appreciate Phil for the time and efforts he took in putting together the 4hr MACD strategy.....many thanks. i started using the strategy on 19th of September after downloading all the pdf's, mp3's and zip folders. i listened and read them day in day out until i finally got the gist. i set off trading on a $500 demo account and after three weeks, my account grew to $2883.40. the last trade i took was USDCAD on 30th September (it lasted for 3 days) which gave me the highest profit so far. the reason being that the trend started in my presence so i did not set a TP but rather trail stop it till it took me out due to the resistance of the 1.0800 mark. it finally broke the resistance but am already preparing for church and have to leave. Thank goodness i left as it retraced strongly before finally heading that way. All the same, i really appreciate Phil for his dedication to this thread.
i must comment palmer too. thank you all. LOL
What did you change after the 15th? Seems like you had significant growth after this figure.
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