Hi all,
My first post. I have been monitoring and reading past posts for 2 weeks. A great thread and Thank you Philip. I am currently trading eurusd in at 3160 stop was at 3189, closed first of 3 lots at 21 [39 pips]. we are sitting on 21 - 24 area and wondering how some of you reassess your RR. I have moved my stops on remaining to BE but my next TP is 3102. Would you move its stop to 1:1 ratio?
Thanks and look forward to posting more,
Scott
What waas it Philip said, something like let the trades come to you? What a beautiful expression, is it me and my imagination or is eurusd looking more RT ish by the minute, and gbpusd is desperate to cross the 0 line, (or would that be me thats desperate) either way....hang in there kids
Euro/Us:
I saw a short MACD pattern this morning (EST) in the 4hr chart-don't remember which one, and now I am at work and cannot access my charts- but it seems to be working fine.
US/JP:
After a nice run to the short side yesterday, I saw a bullish MACD pattern here around 11:00 PM (EST). Again, I don't remember what pattern. And I am enjoying my ride!!!
Stick to Phillips rules and the pips will come. Jump too early, and you'll see them pass by as they fill somebody else's account!!!
I learned my lesson. This is what I do: If going long the first bar in MACD MUST be totally closed (green). Won't move until at least 1 hr after the close of that bar. Would confirm with the 1 hr..and if the 1 hr agrees with the 4hr..and the conditions are there (with the trend, S/R lines at decent distance, R:R >1, MA's OK), I'll jump in. If going short the red bar in MACD MUST be completely closed.
If I broke ant of these rules, please kick me for being a fool!!!
There is no excuse to NOT having at least an 80% success record.
Hi Pilgrim and Erik,
The 1 hour is only supposed to be used to help us enter at a better price...not to anticipate changes in market direction. If you have any confusion, stick solely to 4 hour signals/entry/exit. & practice practice practice! Also, it is indispensible for confirming RT, RB and TC
So here we have swissy which has gone past the 89 ma, and this 4hr bar will be closing shortly. So you say (alcastro or whoever else wants to listen to my ranting) you wait for another hour and a conf on the 1hr is that right? Do you also wait for it to pull back to say the 21 ema as Phillip said to do or do you get in wherever it is at that time...thankyou
guys,so much for the controvesy.wich is better,1hr or 4hrs system?? seem like we have a pool of 1hr and 4hrs chartist...which yields better result?
You are a 110% right, my loss was based on just looking at the 1 hour chart, the 4 hour was clearly saying up, I thought I saw a rounded top on the hourly. I setup my charts now to see the 4 hour on top and the hourly below, looking at the 4 hour for the signal only. Like Alcastro said stick to the rules and let the trades come to you. I didn't and had to pay the piper.
