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4 Hour Strategy (MACD)

  • #17,321
  • Oct 6, 2008 3:49pm Oct 6, 2008 3:49pm
Quoting Palmer
bsh:

The US markets have now turned into a global problem. This is crazy stuff....
That's right. The ride is over yet. A few countries in Europe are also discussing bail out packages.
  • #17,322
  • Oct 6, 2008 4:06pm Oct 6, 2008 4:06pm
MAD:

I agree. What is interesting is how far we were below the 10,000 level on the Dow and we came back up a good ways. Thinking out loud here but might have the Dow formed the #1 point of a 1 2 3 bottom formation???? We'll see. If there are any stock traders out there, now might be a good time to buy some of the blue chippers out there at a bargain and write covered calls against them....

I see hef mentioned the BladeRunner. When the 4hr is trending like it is, the BladeRunner will let you bag a lot of pips...a lot of pips. The only downside is that you have to monitor things every hour for an entry. But then again, if you're in good on a few 'daylight entries'...just let that puppy run.
  • #17,323
  • Oct 7, 2008 1:39am Oct 7, 2008 1:39am
Thx so much Phillip...
  • #17,324
  • Oct 7, 2008 1:47am Oct 7, 2008 1:47am
I made a wrong trade of eu. It has formed a invert harmmer which is very like 11th Sep. 12:00, but this one false.

I read book of Japaness Canlde Pattern and know that invert harmmer NEED THE NEXT CANDLE TO CONFIREM IT. That's true. Also hanging man need a confirm canlde, it seems that harmmer and shooting star don't need such confirmation, but we definitely should pay more attension about these CT trades because price maybe not stop its previous trend and I do meet the cases that the two pattern false(That means the price even doesn't go with 20pips in your direction). We need the confirmation. Look out!

Hope you don't make same mistake as me.

yesterday's EU
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 34 KB


11th Sep. EU
Attached Image (click to enlarge)
Click to Enlarge Name: eu2.gif Size: 33 KB
Plan your trades and trade your plans
  • #17,325
  • Oct 7, 2008 2:21am Oct 7, 2008 2:21am
Quoting saka
I made a wrong trade of eu. It has formed a invert harmmer which is very like 11th Sep. 12:00, but this one false.

I read book of Japaness Canlde Pattern and know that invert harmmer NEED THE NEXT CANDLE TO CONFIREM IT. That's true. Also hanging man need a confirm canlde, it seems that harmmer and shooting star don't need such confirmation, but we definitely should pay more attension about these CT trades because price maybe not stop its previous trend and I do meet the cases that the two pattern false(That means the price even doesn't go with 20pips in your direction). We need the confirmation. Look out!

Hope you don't make same mistake as me.

yesterday's EU
Attachment

11th Sep. EU
Attachment
Great post saka! Im intrested of that book, could you give me a name of that book or possible the authors name?
  • #17,326
  • Oct 7, 2008 2:32am Oct 7, 2008 2:32am
I have a question for Palmer on this thread.

So i was reading on your homepage about the 1 hour entry. I was particular intrested in this ADX indicator. Im thinking about trying it out but i just wanna see if i got it right.

Ive attached a picture where you can see the cable, on the 4 hour touch the 21 ema, so we think bearish cause of the downtrend right? Is this the time when i can start looking at 1 hour and short when a cross of the ADX indicator?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 26 KB
  • #17,327
  • Oct 7, 2008 2:57am Oct 7, 2008 2:57am
Quoting ekling
Great post saka! Im intrested of that book, could you give me a name of that book or possible the authors name?
see this link:
http://www.fxtradeblog.com/store.html

Japanese Candlestick Charting Techniques
Plan your trades and trade your plans
  • #17,328
  • Oct 7, 2008 3:34am Oct 7, 2008 3:34am
ADX gave signal on 1 hour and I took it! On my demo of course.

Entry with half original lotsize because of huge stoploss.

E: 1.7445
SL: 1.7550
TP: 1.7330

Well that was the fastest 115 pips ive banked.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 24 KB
  • #17,329
  • Oct 7, 2008 5:02am Oct 7, 2008 5:02am
Quoting ekling
ADX gave signal on 1 hour and I took it! On my demo of course.

Entry with half original lotsize because of huge stoploss.

E: 1.7445
SL: 1.7550
TP: 1.7330

Well that was the fastest 115 pips ive banked.
There was also some negative news out on UK manuafacturing at about that time, which probably added to the sharp decline.
  • #17,330
  • Oct 7, 2008 5:57am Oct 7, 2008 5:57am
Quoting ekling
ADX gave signal on 1 hour and I took it! On my demo of course.

Entry with half original lotsize because of huge stoploss.

E: 1.7445
SL: 1.7550
TP: 1.7330

Well that was the fastest 115 pips ive banked.
Really good trade that! I mist it again Haven't managed to catch anything these last 2 days, oh well at least i'm saving my ammo!
  • #17,331
  • Oct 7, 2008 6:24am Oct 7, 2008 6:24am
ekling:

That's about it; when the +DM/-DM cross with the 4hr trend. Remember though, like you just said, the pips can come fast and you have a few choices to make:

1) Do you treat this as a 1hr trade and trade it on the 1hr timeframe? (115 pips, I'd be done)?

or

2) Manage the trade per the 4hr trend?

My thinking is to take what I can on the 1hr entry and leave a position open per the 4hr trend on the 4hr chart in the event that a long run has started.

Always: Use the 1hr entry only during high probability set-ups per the 4hr hour direction.

Nice job!
  • #17,332
  • Oct 7, 2008 8:19am Oct 7, 2008 8:19am
Hello FF,

This is my first post on ForexFactory, even tho I deal stocks for over a year, Forex for about 8 months, and went live three months ago

I have tested about 50 FF systems, and have noticed most of them look the same. The guy takes 3, 4 or 5 random indicators, puts them together and names that a 'signal'.
No different from flipping a coin.

Three systems in FF have changed the way I look at financial markets, and even live itfself (LOL, but seriously!): Jacko, James16 and 4h-MACD.
The most didatical one and consequently, the one I've had the most experience with, was this, 4h-MACD.

I'm amazed at the way Philip Nel, Palmer, and other contributors see technical analysis. It's simplicity is amazing. I think the concept of 'Market Rhythm' is genious, and I will be forever thankful to you for teaching such quality information, and asking nothing in return.

Anyways, I have started with a U$50 micro account.
Went to U$17 in my first month, trying scalping methods with large lots .
Now I'm currently at U$200, dealing only with your methods, added nothing to it. Risking 5% equity every trade. Trading nearly 5 times a week.
Some days there's no trading, but some days (like yesterday noon, 4h-AM candle, UP on most crosses) there's lots of 'em.

A single advice I give for whoever sees himself on my shoes: get the gist of it!
No system can ever make you profit if you don't understand it beyond reason, you have to make it automatic on your mind. You have to make it natural to you. That comes from experience alone.

At last, this post was originally a "Thank You" to Philip Nel and every other contributor working on this marvelous concept, so thank you guys!

Best regards!
Renato
Chasing Livermore...
  • #17,333
  • Edited 8:29am Oct 7, 2008 8:29am | Edited 8:29am
Quoting osyrius
Hello FF,

This is my first post on ForexFactory, even tho I deal stocks for over a year, Forex for about 8 months, and went live three months ago

I have tested about 50 FF systems, and have noticed most of them look the same. The guy takes 3, 4 or 5 random indicators, puts them together and names that a 'signal'.
No different from flipping a coin.

Three systems in FF have changed the way I look at financial markets, and even live itfself (LOL, but seriously!): Jacko, James16 and 4h-MACD.
The most didatical one and consequently, the one I've had the most experience with, was this, 4h-MACD.

I'm amazed at the way Philip Nel, Palmer, and other contributors see technical analysis. It's simplicity is amazing. I think the concept of 'Market Rhythm' is genious, and I will be forever thankful to you for teaching such quality information, and asking nothing in return.

Anyways, I have started with a U$50 micro account.
Went to U$17 in my first month, trying scalping methods with large lots .
Now I'm currently at U$200, dealing only with your methods, added nothing to it. Risking 5% equity every trade. Trading nearly 5 times a week.
Some days there's no trading, but some days (like yesterday noon, 4h-AM candle, UP on most crosses) there's lots of 'em.

A single advice I give for whoever sees himself on my shoes: get the gist of it!
No system can ever make you profit if you don't understand it beyond reason, you have to make it automatic on your mind. You have to make it natural to you. That comes from experience alone.

At last, this post was originally a "Thank You" to Philip Nel and every other contributor working on this marvelous concept, so thank you guys!

Best regards!
Renato
Thanks for the kind words.

Speaking of stocks: I'm 'studying' using the same principles here to write covered calls. Find those stocks that have good rhythm. Buy the stock on a pullback to the 21 (or 50) and sell the options when the price returns to the 8 for a little more premium. One method to cover FX and stocks...beautiful!!!
  • #17,334
  • Oct 7, 2008 8:44am Oct 7, 2008 8:44am
Quoting Palmer
MAD:

I agree. What is interesting is how far we were below the 10,000 level on the Dow and we came back up a good ways. Thinking out loud here but might have the Dow formed the #1 point of a 1 2 3 bottom formation???? We'll see. If there are any stock traders out there, now might be a good time to buy some of the blue chippers out there at a bargain and write covered calls against them....

I see hef mentioned the BladeRunner. When the 4hr is trending like it is, the BladeRunner will let you bag a lot of pips...a lot of pips. The only downside is that you have to monitor things every hour for an entry. But then again, if you're in good on a few 'daylight entries'...just let that puppy run.
thanks palmer. i have a question for you though. yesterday while watching my trades (and also posting at FF), i discovered that the Colored MACD does repaint. the question here is, is it supposed to repaint as that was what made me to be looking for BladeRunner on EURUSD yesterday but when the candle closed, there wasn't any though there was on AUDUSD.
  • #17,335
  • Oct 7, 2008 8:45am Oct 7, 2008 8:45am
watching the majors for a TC....except the Yen which is still wacky
  • #17,336
  • Oct 7, 2008 8:47am Oct 7, 2008 8:47am
Quoting MAD
What did you change after the 15th? Seems like you had significant growth after this figure.

the real application of phil's 4HR MACD STRATEGY started on the 19th and prior to that, i had some profitable trades using some other strategy i do use on 5min charts. but the real thing started on the 19th. thanks
  • #17,337
  • Oct 7, 2008 8:47am Oct 7, 2008 8:47am
I'm still curious about the MACD repainting...Has anyone else seen that? It does repaint during the bar if the value is around -1,0, and +1 but that's the only time it should repaint. I'm using v102..
  • #17,338
  • Oct 7, 2008 8:56am Oct 7, 2008 8:56am
One last thing and I gotta run...

I think extra caution needs to be used today. Bernanke is speaking this afternoon and given the state of the economy, anything could happen. There have been some 'spin' broadcasts about the Fed lowering rates which could send the EU way up and those TC's setting up right now could be risky. Just thinking out loud. Still few hours to go on those but I'd be watching the charts and listening to the news at the same time in the event something 'real' happens with the Fed.

Till later...
  • #17,339
  • Edited 9:52am Oct 7, 2008 9:23am | Edited 9:52am
I'm looking out for this area. Trend line + Fib. We might have a possible TC.

If MACd shows a TC, that will be a high probability trade imo.
Attached Image
  • #17,340
  • Oct 7, 2008 10:28am Oct 7, 2008 10:28am
Quoting Palmer
I'm still curious about the MACD repainting...Has anyone else seen that? It does repaint during the bar if the value is around -1,0, and +1 but that's the only time it should repaint. I'm using v102..
It happens to me (especially in 5 min).
I try to refresh charts often to solve that.
Whatever, MACD is not so important as Market Rythm.
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