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4 Hour Strategy (MACD)

  • #2,161
  • Mar 8, 2007 9:56am Mar 8, 2007 9:56am
One last post:

It is really important to read and re-read and re-read Phillip's pdf on 4 hour. Make sure you understand how to read the signals on the 4 hour chart. Do a search for everything he has posted in pdf and zip. read and listen. Emulate what he has put forth. Read Tsunami and make the choice to what kind of trader you want to be. Once you make the choice...do whatever it takes to become that trader! Work hard to understand what the market is telling us (and think about news as an interesting conversation piece, but not really useful in this system). Concentrate on learning technical analysis well.

Remember, the system is simple but your individual analysis is critical for your sucess!

May you all capture and keep many many pips! My candle is about to close....let's see what is going on, eh?
  • #2,162
  • Mar 8, 2007 9:58am Mar 8, 2007 9:58am
Dont get bored and jump to the 1hour. Wait for the market to come to you.
Attached File(s)
File Type: zip DailyWrapup 08March.zip   828 KB | 2,444 downloads
  • #2,163
  • Mar 8, 2007 10:28am Mar 8, 2007 10:28am
I am hoping someone will be able to help me with this problem, it is driving me nuts.

I am using a demo account with Apari through MT4, my current situation so far this month should be around 200 pips +. However some some reason the platform decides to open trades for no reason??

This has now happend 3 times for a total loss of 100 pips, I have attached a pic of my recent trade on the USDJPY, I traded the bounce off of the 21ema which was profitable as you can see. i closed down the platform after closing the position and when i came to make a trade on the EURUSD today i saw a second position opened for the USDJPY which closed for a loss of 30 pips???

What is going on?

If you look at the attached pic you will see that the entry proce is 2 decimal places more ont the trade than the others. Red circles are the one i didnt open.

I hope someone can clear this up for me. I would hate this to happen on my live account.

many thanks

DD
Attached Image
  • #2,164
  • Mar 8, 2007 10:34am Mar 8, 2007 10:34am
Info
Attached File(s)
File Type: zip 1Hour Trendcontinue Patterns.zip   754 KB | 5,697 downloads
  • #2,165
  • Mar 8, 2007 10:39am Mar 8, 2007 10:39am
Quoting Digitaldean
I am hoping someone will be able to help me with this problem, it is driving me nuts.

I am using a demo account with Apari through MT4, my current situation so far this month should be around 200 pips +. However some some reason the platform decides to open trades for no reason??

This has now happend 3 times for a total loss of 100 pips, I have attached a pic of my recent trade on the USDJPY, I traded the bounce off of the 21ema which was profitable as you can see. i closed down the platform after closing the position and when i came to make a trade on the EURUSD today i saw a second position opened for the USDJPY which closed for a loss of 30 pips???

What is going on?

If you look at the attached pic you will see that the entry proce is 2 decimal places more ont the trade than the others. Red circles are the one i didnt open.

I hope someone can clear this up for me. I would hate this to happen on my live account.

many thanks

DD
North Finance is not a bad demo platform.
  • #2,166
  • Mar 8, 2007 11:02am Mar 8, 2007 11:02am
Quoting Phillip Nel
Info
Phillip,

Thank you for all the effort you put into this thread.

Your posts are always extremely useful.
  • #2,167
  • Mar 8, 2007 11:20am Mar 8, 2007 11:20am
rules For Trading The 1 Hour Signal!!!!!

Wait For The 4 Hour Signal!!!!!!

Aj
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #2,168
  • Mar 8, 2007 11:23am Mar 8, 2007 11:23am
Digitaldean...

Stupid question but...you don't have an EA running on a chart that is still open (you forgot about) do you? That's all I can think of...
  • #2,169
  • Mar 8, 2007 11:31am Mar 8, 2007 11:31am
Quoting Palmer
Digitaldean...

Stupid question but...you don't have an EA running on a chart that is still open (you forgot about) do you? That's all I can think of...

Hi,

No i dont I already thought of that, I will delete and in MT4 anyway just to be sure.

On another note, I want to change broker to one that uses MT4 i was going to use interbankfx, but i wondered if any of you know a better one?

thanks

DD
  • #2,170
  • Mar 8, 2007 11:37am Mar 8, 2007 11:37am
Hi Digitaldean

Those trades are swap trades opened at 23.59......of course if you did not closed your positions manualy or with SL or TP before that time.


P.S( read alpari terms of business)
  • #2,171
  • Edited 12:43pm Mar 8, 2007 12:30pm | Edited 12:43pm
Quoting Digitaldean
Hi,

No i dont I already thought of that, I will delete and in MT4 anyway just to be sure.

On another note, I want to change broker to one that uses MT4 i was going to use interbankfx, but i wondered if any of you know a better one?

thanks

DD
Hi DD

I do have a demo and life account with InterbankFX - no problems what so ever up to now. Just that the spread is getting wider during news realeses - up to 10 pips in EUR/$.


I am now looking at Crownforex which is offering 1 pips spread on 7 pairs. You can trade mini lots but not micro lots like with Interbankfx. Do have demo account with them now. Spread stays 1 pip. Also no swab costs.

Hope it helps.

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,172
  • Mar 8, 2007 12:59pm Mar 8, 2007 12:59pm
Quoting dustmop
have been following his tread for awhile. just want to say thanks to all for all the good work. one ? how do you get the macd to show different color. thank
Hi dustmop

You will find an EA on the attachment sheet. Just go to the forum and click on trading system. Look at the thread part and find Phillip's MACD system. Next to it there is a attachment icon. Click on it and move down the sheet until you find the MACD attachment. Then you need to download into your program files containing your MT4 platform.

Enjoy trading.

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,173
  • Mar 8, 2007 1:12pm Mar 8, 2007 1:12pm
Phillip,

Thanks again for helping us aspiring Forex traders! Your insight is invaluable.

Also, wanted to take a minute and say how much I appreciate the psychological reminders (like don't trade the 1 hour b/c of boredom).

Are you sick of the adulation yet??
  • #2,174
  • Mar 8, 2007 1:13pm Mar 8, 2007 1:13pm
Quoting Phillip Nel
Info
Thanks Phillip, you have been a great inspiration to us alls and i look forward to learning more
  • #2,175
  • Edited 1:57pm Mar 8, 2007 1:17pm | Edited 1:57pm
Some notes on aud/usd price action if anyone is interested. My short-term bearish outlook on this pair is cancelled by the attached formation. I believe the price has found support on 0.7754 level which coincides with:

1). upper tip of the shooting star on March 6th;
2). lower channel band.

Right now, the price is trying to find an interim support on 21EMA. I covered my short position and will wait for the close of this candle to confirm if a long position can be established. Yours, T.
Attached Image
  • #2,176
  • Edited 2:30pm Mar 8, 2007 2:19pm | Edited 2:30pm
H all.

On the 4hr charts how many candles in the same direction would be considered as trend, if the 89 has not yet been crossed or turned?

Eg. E/U 27th feb to 5th march is this a down trend even though the 89 is still heading up?

cheers
  • #2,177
  • Mar 8, 2007 3:19pm Mar 8, 2007 3:19pm
The 4hr chart showing short, confirmed by the signal on the 1hr.
  • #2,178
  • Mar 8, 2007 3:47pm Mar 8, 2007 3:47pm
This is my first trade using Phils strategy,took the trade at 1.9283 s/l at 1.9323 just above the 21.

Thoughts please.
  • #2,179
  • Mar 8, 2007 4:13pm Mar 8, 2007 4:13pm
Quoting FOURX
This is my first trade using Phils strategy,took the trade at 1.9283 s/l at 1.9323 just above the 21.

Thoughts please.
Fourx,

Whilst I'm certainly no expert, I do agree with you apart from I think the 1H being stuck at the 21 and 89 will make we wait until the 89 is broken.

I'm sure one of the 'experts' will answer, but that's just my view at the mo.

Good Luck with it.
Enter Signature
  • #2,180
  • Mar 8, 2007 4:15pm Mar 8, 2007 4:15pm
FOURX:

Concering your post about how many candles make a trend and the 89ma moving up even though price action is heading down. Remember, the 89ma is an average of the past 89 closes = it's late catching up with the price action. How many candles for a trend....hmmm, since there are only 6 four hour candles per day, at least a weeks worth. The longer the trend the stronger it is. There's a lot of news coming out in the morning, you may not get a lot of movement this evening. Be cautious about being in a position before the news is posted.
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