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4 Hour Strategy (MACD)

  • #18,081
  • Dec 3, 2008 8:57am Dec 3, 2008 8:57am
I wanna see a move away from the trendline here and I will enter.
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  • #18,082
  • Dec 3, 2008 9:02am Dec 3, 2008 9:02am
Quoting ekling
I wanna see a move away from the trendline here and I will enter.
I also have the same exact chart and trend lines on my chart. There was a nice TC on the 4H, I switched to the 1H, it broke out of the trend line, pulled back, moved away and I entered. I put stop loss above the last few hourly candle and I got stopped out. What I saw is that it pulled back to the 50% fibonacci line on the hourly for the day and it touched it and retraced. when i saw that I re-entered again
Keeping Life Simple
  • #18,083
  • Dec 3, 2008 9:41am Dec 3, 2008 9:41am
TC and triangle breakout ,i have no chance to entry
phillip:thanks for ur all good work in here ,actually its very natural to sell a profitable system than sharing it for free , the good news is u will continue here after u create ur site
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  • #18,084
  • Dec 3, 2008 3:08pm Dec 3, 2008 3:08pm
my entry on usd/jpy ... would others take it long here as well? im new to this style.

thanks.
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  • #18,085
  • Dec 3, 2008 6:56pm Dec 3, 2008 6:56pm
Quoting big_pipin
my entry on usd/jpy ... would others take it long here as well? im new to this style.

thanks.
?
  • #18,086
  • Edited Dec 4, 2008 10:12am Dec 3, 2008 9:38pm | Edited Dec 4, 2008 10:12am
Quoting ssq
who can tell me what is phillip going to do ????for my poor english!!!
i dont understand!
but i wanna buy the system!!!!because i trust him .......
Since no-one is translating the MP3s into written form these days, I hope that Phil won't mind if I make a summary of what he said about his new website.

Here is a written summary of the MP3 for those who have trouble listening to the MP3 .......
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File Type: txt website summary.txt   < 1 KB | 563 downloads
  • #18,087
  • Dec 3, 2008 9:40pm Dec 3, 2008 9:40pm
Quoting hifundu
When I rightclick on the File and choose Open, it asks to choose the Program you want to use to open this File. So what should I choose?

How do I put .zip extension? I tried rename but did not work.

PLEASE HELP!!!!!
Do you have Winzip installed on your PC? I made a quick sheet for you to follow. Winrar may also work but I have not tested it.
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  • #18,088
  • Dec 3, 2008 11:15pm Dec 3, 2008 11:15pm
whats the trade on EU?... 4hr looks bearish but still got a lot of support 2560, 2600 area.
  • #18,089
  • Dec 3, 2008 11:43pm Dec 3, 2008 11:43pm
Does anyone trade divergence on the 4 hr charts with philips macd settings?
  • #18,090
  • Edited 2:21am Dec 4, 2008 1:13am | Edited 2:21am
Taken the TC wth evening star off 21 as a pre-break trade should price break below TL support and out of its consolidation to the south.

Entry = 92.78
SL = 93.31
TP1 at 20 pips but will go to BE at 15 due to proximity of TL
...will then set SL on 2nd lot to -20

Little bit risky trade in my opinion...divergence going on. But I like the steady set of lower highs as well

UPDATE: Closed trade for -6pips as price isn't really moving. I guess it was a bit much to expect any major moves before NFP???
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  • #18,091
  • Dec 4, 2008 6:07am Dec 4, 2008 6:07am
Quoting MAD
Do you have Winzip installed on your PC? I made a quick sheet for you to follow. Winrar may also work but I have not tested it.
Thanx Mate. Got it.
  • #18,092
  • Dec 4, 2008 7:10am Dec 4, 2008 7:10am
Quoting big_pipin
whats the trade on EU?... 4hr looks bearish but still got a lot of support 2560, 2600 area.
yes , there are alot of sup. res. areas here ,i'd like to trade in the red or blue circles for H4 TF ,otherwise i'm in M5 TF .
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  • #18,093
  • Dec 4, 2008 11:13am Dec 4, 2008 11:13am
Hi Big Pipin,

No one seems to be responding to your question, so I thought I would jump in.

Firstly, I don't see any moving averages, trendlines, or support/resistance lines on your chart. These are really the base of the system, and the price action, or rhythm as Phillip calls it, around these moving averages and various lines should influence your trades more than anything else. The MAs that the system uses are a 365 EMA, a 200 SMA, an 89 SMA, a 21 EMA, and an 8 EMA. The MACD should only be there to inform you when you should make your entry.

Secondly, the MACD parameters should be adjusted to 5, 13, 1.

Once your chart is set up, take a look at the trade again and see how you feel about it. The MACD should be the final reason you take the trade, so look for other clues like breaking a resistance line, breakout from a channel or triangle, a bounce off a moving average, etc.

At a glance, the Yen seems to be in a downward triangle: making lower highs and lower lows. I'd personally be reticent to take any long positions until the price starts moving upwards and making some higher lows and highs.

I hope this helps.

Quoting big_pipin
my entry on usd/jpy ... would others take it long here as well? im new to this style.

thanks.
The problem with experience is that the test comes before the lesson.
  • #18,094
  • Dec 4, 2008 11:46am Dec 4, 2008 11:46am
here is what happens when i put macd to the required settings, on gft. It doesnt look like everyone elses, but rather all screwed up. eu on the 4hr.
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  • #18,095
  • Dec 4, 2008 12:14pm Dec 4, 2008 12:14pm
Big Pipin.....check out page 31 post 461...there is a custom indicator there that i think many of us are using.....there r others versions too i believe...
  • #18,096
  • Dec 4, 2008 12:25pm Dec 4, 2008 12:25pm
Quoting ybeidas
Big Pipin.....check out page 31 post 461...there is a custom indicator there that i think many of us are using.....there r others versions too i believe...
i saved the file, but it wont let me open it.
  • #18,097
  • Dec 4, 2008 12:27pm Dec 4, 2008 12:27pm
Quoting big_pipin
here is what happens when i put macd to the required settings, on gft. It doesnt look like everyone elses, but rather all screwed up. eu on the 4hr.
Hi Big Pipin,

Your MACD line actually looks quite close to mine, although slightly different because your data feed uses a different time zone. I don't know why the levels on the y-axis are different on gft than on MT4, but the line still looks okay. I personally prefer to use vertical bars on the MACD as well just for ease of viewing, but the line works too.
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The problem with experience is that the test comes before the lesson.
  • #18,098
  • Dec 4, 2008 12:54pm Dec 4, 2008 12:54pm
Quoting Bandersnatch
Hi Big Pipin,

Your MACD line actually looks quite close to mine, although slightly different because your data feed uses a different time zone. I don't know why the levels on the y-axis are different on gft than on MT4, but the line still looks okay. I personally prefer to use vertical bars on the MACD as well just for ease of viewing, but the line works too.
it wont show the verticle bars
  • #18,099
  • Dec 4, 2008 2:01pm Dec 4, 2008 2:01pm
big-pipin,
Did you load the indicator and restart metatrader?
  • #18,100
  • Dec 4, 2008 2:54pm Dec 4, 2008 2:54pm
Hey everyone. Not the best of luck for me the last few days. Somehow I picked up the CyberLog-X virus and it's not letting me get online. I can do everything else computerwise except get an internet connection. The virus has since been removed but something is up with the internet connection. For what it's worth...I was prompted to download an ActiveX plug-in from a Facebook link that someone had sent me so I downloaded it, that was the bug. I should have known becuase Firefox does not need an ActiveX plug-in download to function, only IE does I believe. When I start up ODL, FXDD they don't get online. When I start Firefox or IE, they show up in the Task Manager window but only in the Processes tab and not the Applications Tab; they are loaded but not running. Either way, my 'trading-laptop' is out of commission. The parents are on their way here for a visit for several days so I'm not sure when I'll get this cleared up. Got about 12,653,583 things to do before they get here this evening so sometime next week I should be back online. I have internet and trading access with this laptop at home but my time is limited for now. Back in a few days or I may pop in from time to time.

Bought a bottle of scoch and box of cigars just in time...need a belt and puff right aboout now...
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