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4 Hour Strategy (MACD)

  • #1,381
  • Edited 12:06pm Feb 27, 2007 12:01pm | Edited 12:06pm
Quoting Phillip Nel
Remember that the 1Hour is not a stand alone strategy. It is with the 4hour MACD. It only gives you the oppertunity to get in earlier on the trade.

I use all three. The 4hour MACD the favourite but also the 1hour as it goes nice with the 89SMA and 21EMA
Thank you so much for helping us all prosper with your system. I can't thank you enough for being so generous with your knowledge and your time. You surely are a gifted teacher...very nice the way you broke the system into bite size pieces for us to digest and use.

Thank you again!!!

hmmm....the emoticon is kinda creepy...but its not meant to be....sending good vibes your way...pips
  • #1,382
  • Feb 27, 2007 12:01pm Feb 27, 2007 12:01pm
Quoting Phillip Nel
This strategy gives good signals on the EurUsd at the end of the Asian and beginning or during London period.

It also gives you another chance or two to enter the market should the news be favouring the trend.
is there any particular news that i need to keep an eye on before news trading,or simply i need to get out before news,etc?
  • #1,383
  • Feb 27, 2007 12:07pm Feb 27, 2007 12:07pm
Quoting fxnewbie 71
phil,do i target the price to be in between 21 ema and 8 ema when i counter-trend trade? thanks...
Yes. I normally move my stop to just away from the 8EMA for if it does not penetrate all the way to the 21EMA and if it does go to the 21EMA I put my stop inbetween to give it the chance to go below 21EMA and if it goes below the 21EMA I put my stop just away from the 21EMA and leave it there and then decide on movement when to take profit. Sometimes it goes way past the 21EMA and that is how I give myself the oppertunity to stay in the trade as long as possible.
  • #1,384
  • Feb 27, 2007 12:13pm Feb 27, 2007 12:13pm
Quoting Phillip Nel
Yes. I normally move my stop to just away from the 8EMA for if it does not penetrate all the way to the 21EMA and if it does go to the 21EMA I put my stop inbetween to give it the chance to go below 21EMA and if it goes below the 21EMA I put my stop just away from the 21EMA and leave it there and then decide on movement when to take profit. Sometimes it goes way past the 21EMA and that is how I give myself the oppertunity to stay in the trade as long as possible.
phil,thanks for your detailed explanation! i love to trade your systems but i guess i need to build up my confidence gradually before i can trade like u(a long way to go...) ,thanks master!
  • #1,385
  • Feb 27, 2007 12:17pm Feb 27, 2007 12:17pm
Just something to know what news comes when and to put it in a horizontal line months before the time.

I put the weeks main news on Hor lines so when the time approaches the line will tells you so.

Forgot the image. Will post it
  • #1,386
  • Edited 1:16pm Feb 27, 2007 12:20pm | Edited 1:16pm
Quoting Phillip Nel
Just something to know what news comes when and to put it in a horizontal line months before the time.

I put the weeks main news on Hor lines so when the time approaches the line will tells you so.

Forgot the image. Will post it
I said Horizontal lines intead of Verical Lines. Sorry
Attached Image
  • #1,387
  • Feb 27, 2007 12:21pm Feb 27, 2007 12:21pm
Quoting Phillip Nel
Just something to know what news comes when and to put it in a horizontal line months before the time.

I put the weeks main news on Hor lines so when the time approaches the line will tells you so.

Forgot the image. Will post it
yeah,need your posting of images to understand your thoughts better,thanks!
  • #1,388
  • Feb 27, 2007 12:25pm Feb 27, 2007 12:25pm
Quoting fxnewbie 71
phil,thanks for your detailed explanation! i love to trade your systems but i guess i need to build up my confidence gradually before i can trade like u(a long way to go...) ,thanks master!
fxnewbie,

Backtest the system for at least 50 trades and track your results. This will give you tremendous confidence and will allow you to stick to the rules and develope discipline. (I actually paid someone $1200 USD to learn that, pretty funny). But, it really will give you confidence because you will see what you could have accomplished and will accumulate by following a system that works. Also, being connected to a community of like minded traders is a confidence booster and gives you the feeling of having "co-workers" that you are accountable to (helps you from trading on a whim).
  • #1,389
  • Feb 27, 2007 12:34pm Feb 27, 2007 12:34pm
Quoting pips4uandme
fxnewbie,

Backtest the system for at least 50 trades and track your results. This will give you tremendous confidence and will allow you to stick to the rules and develope discipline. (I actually paid someone $1200 USD to learn that, pretty funny). But, it really will give you confidence because you will see what you could have accomplished and will accumulate by following a system that works. Also, being connected to a community of like minded traders is a confidence booster and gives you the feeling of having "co-workers" that you are accountable to (helps you from trading on a whim).
pips4uandme,thanks for your information and assurance and i am now fully motivated and getting ready to charge into the next level!!
  • #1,390
  • Feb 27, 2007 12:36pm Feb 27, 2007 12:36pm
Quoting Phillip Nel
a
phil,i being a newbie,still not very sure of which r the important news to look out for,can u list down the list pls? thanks alot master..
  • #1,391
  • Feb 27, 2007 12:48pm Feb 27, 2007 12:48pm
Quoting fxnewbie 71
phil,i being a newbie,still not very sure of which r the important news to look out for,can u list down the list pls? thanks alot master..

Some news in pips move
Attached Image
  • #1,392
  • Feb 27, 2007 12:57pm Feb 27, 2007 12:57pm
Quoting Phillip Nel
Yes. I normally move my stop to just away from the 8EMA for if it does not penetrate all the way to the 21EMA and if it does go to the 21EMA I put my stop inbetween to give it the chance to go below 21EMA and if it goes below the 21EMA I put my stop just away from the 21EMA and leave it there and then decide on movement when to take profit. Sometimes it goes way past the 21EMA and that is how I give myself the oppertunity to stay in the trade as long as possible.
Hi Phil, with the stop that you describes in counter trade above, is that the same as profit target? and for example with eur/usd today am i correct that i set stop loss above the previous 2 or 3 candles high if the r/r is ok? thanks for all the help
  • #1,393
  • Feb 27, 2007 1:02pm Feb 27, 2007 1:02pm
Quoting pips4uandme
fxnewbie,

Backtest the system for at least 50 trades and track your results. This will give you tremendous confidence and will allow you to stick to the rules and develope discipline. (I actually paid someone $1200 USD to learn that, pretty funny). But, it really will give you confidence because you will see what you could have accomplished and will accumulate by following a system that works. Also, being connected to a community of like minded traders is a confidence booster and gives you the feeling of having "co-workers" that you are accountable to (helps you from trading on a whim).

Exactly as said above.
1. Write down the rules of the system and KNOW them.
2. Treat every backtest as if it were a live one.
3. When to many losers apear try and find the reasons. Most of the times we had the direction correct but our stoploss was not at the right place.
4. Practice to recognize the movement of the market around the Moving Averages and around key support and resistance areas.
  • #1,394
  • Feb 27, 2007 1:11pm Feb 27, 2007 1:11pm
Quoting O'Zeeke
Hi Phil, with the stop that you describes in counter trade above, is that the same as profit target? and for example with eur/usd today am i correct that i set stop loss above the previous 2 or 3 candles high if the r/r is ok? thanks for all the help
My MACD has not shown a counter trade yet. If yours have than it would be the place as we have a midway 1.3250 barrier so 1.3260 would be OK. Profit target could be 1.3200. I will be very cautious to take a short trade as the move up looks strong.

Yes. I like to have my profit taker behind the price on a countertrend to give it chance to take full advantage should it go down past the 21EMA.

On a normal trade I will take partial profit, then move stop to breakeven and if the price moves through a barrier move my stop just outside danger zone(will learn that over time as it is no fixed number) just to give myself the chance to stay in as long as possible.
  • #1,395
  • Edited 1:48pm Feb 27, 2007 1:11pm | Edited 1:48pm
Hallo Phillip,
Thank you for sharing this strategy.
The Double Top on GBPJPY already give me 400 pips.
If price clearly break ema 365 and trend line on H4 than it will continue to 232 price level, or maybe to 231 (SMA 89 ON daily chart).

Would really appriciate if You can give some advice about it.
Many thank.
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  • #1,396
  • Feb 27, 2007 1:26pm Feb 27, 2007 1:26pm
Quoting metto
Hallo Phillip,
Thank you for sharing this strategy.
The Double Top on GBPJPY already give me 400 pips.
If price clearly break ema 365 and trend line on H4 than it will continue to 232 price level, or maybe to 231 (SMA 89 ON daily chart).

Would really appriciate if You can give same advice about it.
Many thank.

Well done.
It looks like 232(closest low) is on the cards if broken then 231.

Keep your stop out of the way but when motion becomes nervous close it in.
I will split my stop in three parts on different levels if I have such a move just to give one third the chance should it goes down some more.
  • #1,397
  • Edited 1:44pm Feb 27, 2007 1:31pm | Edited 1:44pm
There is a Lower MACD High with the close of the current 4HR candle in 30 min. And prices bounced of trendline resistance. Is anyone going short at the close of the candle?

EDIT: Well, a small rise in price has voided the Lower High in this candle's MACD. 15 min. to close.
  • #1,398
  • Feb 27, 2007 1:46pm Feb 27, 2007 1:46pm
Quoting Phillip Nel
Well done.
It looks like 232(closest low) is on the cards if broken then 231.

Keep your stop out of the way but when motion becomes nervous close it in.
I will split my stop in three parts on different levels if I have such a move just to give one third the chance should it goes down some more.
Thank you Phill, your split stop was great idea, since this pair often made crazy move.
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  • #1,399
  • Feb 27, 2007 1:58pm Feb 27, 2007 1:58pm
Quoting AlphaPip
There is a Lower MACD High with the close of the current 4HR candle in 30 min. And prices bounced of trendline resistance. Is anyone going short at the close of the candle?

EDIT: Well, a small rise in price has voided the Lower High in this candle's MACD. 15 min. to close.


It looks like a short is given but the 200SMA and 21EMA together spoils it a as well as we are in an uptrend. Price above 89SMA with price tested 21EMA. I however like the tails to the top. My heart says short to 1.9600, my head and rules says no. I will stick to my rules
  • #1,400
  • Feb 27, 2007 2:02pm Feb 27, 2007 2:02pm
Took about 20 pips out of the GBPUSD on that MACD downturn...

Speaking of news, there is a lot of eco news due out tomorrow so just be aware of it...
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