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4 Hour Strategy (MACD)

  • #2,561
  • Mar 14, 2007 12:57pm Mar 14, 2007 12:57pm
Quoting Phillip Nel
For those who gets bored if nothing happens.

Just made 10 on the UsdJpy


5 Min give some action. See the 5 Min Intraday Strategy
Hi Phillip

The same with me - just made 10 pips with 5 min system on GBP$ (enter 16:04GMT exit 17:40GMT). This system teaches you the necessary waiting skills for the 4h system. I had to wait for more than 1 hour for the movement. I did the same yesterday

Try it out - you won't be sorry.

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,562
  • Mar 14, 2007 1:47pm Mar 14, 2007 1:47pm
Quoting FOURX
Hi Tam,

I was'nt questioning your trade or methods, I have no doubts about your ability to analyse and produce reasoning. I was just wondering whether your trade was because of the inside bottom from the 8th.

Also could you tell me where did you position your s/l on this trade and why? as this is an area which is really difficult to get a grip of (stopped out twice last night).

Members please give stop loss and reasoning if you could, it would be a great help.



Cheers
Can you clarify why were you stopped out? What was your entry price and SL point?
  • #2,563
  • Mar 14, 2007 2:15pm Mar 14, 2007 2:15pm
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File Type: zip Stoplosses.zip   797 KB | 2,000 downloads
  • #2,564
  • Mar 14, 2007 2:17pm Mar 14, 2007 2:17pm
I looked through the attachment listing for the 5 min intraday strategy but didn't see it. It might be in one of the many folders...What post # might that be???
  • #2,565
  • Mar 14, 2007 2:24pm Mar 14, 2007 2:24pm
When the 4 Hour is quite.

Another 20 pips with 5 min strategy. It went quickly so I let it run. Took profit on 20 pips gain.
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  • #2,566
  • Mar 14, 2007 2:25pm Mar 14, 2007 2:25pm
Quoting Palmer
I looked through the attachment listing for the 5 min intraday strategy but didn't see it. It might be in one of the many folders...What post # might that be???

It is a thread totaly on its own under Trading Systems
  • #2,567
  • Mar 14, 2007 3:03pm Mar 14, 2007 3:03pm
Hi all,
would you consider this an RB or do we have to wait for this bar to close first...thanks very much for everyones help this is such a great strat
Never say never.
  • #2,568
  • Mar 14, 2007 3:08pm Mar 14, 2007 3:08pm
Quoting Phillip Nel
It is a thread totaly on its own under Trading Systems
Hi Palmer

I would recommend that you go and have a look at that thread. I've just posted my own rules based on Phillip's system and IT IS WORKING. My first two trades were positive trades.

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,569
  • Mar 14, 2007 3:25pm Mar 14, 2007 3:25pm
Quoting tamkras
Can you clarify why were you stopped out? What was your entry price and SL point?
Hi Tam.

Firstly thank you for detailed explanation.

On both trades the previous 4hr bars on macd gave the right signs,opened on start of next candle.

E/G 4.00hr gmt+1 sht 0.6836 s/l 0.6856

G/U 00.00hr gmt+1 sht 1.9280 s/l 1.9305

cheers
  • #2,570
  • Edited 6:48pm Mar 14, 2007 3:26pm | Edited 6:48pm
Phillip, on average, how many pips do you bring into your account each month?

I'm just curious.
  • #2,571
  • Mar 14, 2007 3:38pm Mar 14, 2007 3:38pm
Quoting FOURX
Hi Pips,

That quote was actually by Gary Player the great South African golfer.Do you know of any more great South Africans? I have one who springs to mind.

Cheers.
Thank you for correction of the original source (credited wrong on document I stole it from ). Isn't it "Karmic" that it comes from South Africa?? South African's ROCK!!!! (someday I'll get to go there and see for myself)

Best of "Luck" to you!!!!

Pips
  • #2,572
  • Mar 14, 2007 3:45pm Mar 14, 2007 3:45pm
Quoting Golfer
Hi Phillip

The same with me - just made 10 pips with 5 min system on GBP$ (enter 16:04GMT exit 17:40GMT). This system teaches you the necessary waiting skills for the 4h system. I had to wait for more than 1 hour for the movement. I did the same yesterday

Try it out - you won't be sorry.

Willem
You are so right about waiting skills. Have noticed that the trades for 4 hour system take anywhere from 8 - 48 hours to develop per plan and that I rush them after 2!!

Thanks for reminding us about waiting for the movement!
  • #2,573
  • Mar 14, 2007 3:53pm Mar 14, 2007 3:53pm
Quoting razldazl
Hi all,
would you consider this an RB or do we have to wait for this bar to close first...thanks very much for everyones help this is such a great strat
Hi razldazl,

I do see that a signal was given at the close of the last chart (per my time frame about 1.5 hours ago). But, I'd be careful with following RB. The MA's are fairly close, and I think that 1.2176 is a barrier and could be a TC point , and 1.2206 is the 21 (just my thoughts, and we all have to develop our own plans based on what we see and our trading style). If you decide to take this signal, remember it is counter and keep your stop tight and move to BE asap.

Best to you,

Pips
  • #2,574
  • Mar 14, 2007 4:00pm Mar 14, 2007 4:00pm
Hi FXHermit!

I have a stupid question....what does an inside bar mean? Is it a sign of indecision w/the market? is it like an inside day? Am I way off base? Thank you soooo much for helping me understand!

Pips
  • #2,575
  • Mar 14, 2007 5:31pm Mar 14, 2007 5:31pm
Quoting baddison
chenkz, I can tell you how to configure AccuCharts with this strategy. FxSol DOES have 4hr charts, as you may already know.
Hi Baddison, Thank you for your reply. Could you please show me the way of setting the AccuCharts?.

Thanks.
  • #2,576
  • Mar 14, 2007 5:42pm Mar 14, 2007 5:42pm
Quoting Eckbert
I would suggest you open a demo account with Alpari or Strategybuilder. Accucharts is FXSolutions own propietary software. I do not like it. If you set the signal line to 1 your histogram disappears. Also they do not have 4 hr charts.
Try the following websites:
www.alpari-idc.ru/en
www.strategybuilder.com

The Metatrader from Alpari has the same time zone as Philip uses , which implies that the charts will look the same.
I hope this helps.
Hi, Thanks for your help, tha Accucharts does have 4hr charts.

I will try out alpari. Meanwhile if anyone knows how to set Accucharts MACD please advie, so that I can save myself time in getting use to some other systems.
  • #2,577
  • Mar 14, 2007 6:49pm Mar 14, 2007 6:49pm
[quote=pips4uandme;244229]Hi FXHermit!

I have a stupid question....what does an inside bar mean? Is it a sign of indecision w/the market? is it like an inside day? Am I way off base? Thank you soooo much for helping me understand!
quote]

An inside bar is a price bar that opens and closes within the price action of the previous bar - you are correct in saying that it is an inside day when it occurs in the daily time frame (see attached chart). They can and do occur in any time frame but seem to be more reliable in the longer time frames. They are generally traded as breakouts from either the high or low of the bar. When they occur at support/resistance they are often the start of a substantial price move. When I see one form in conjunction with the MACD confirmation in the 4 hour time frame I am usually more confident that a true trend change or round bottom/round top is happening rather than a trend continuation.
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Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #2,578
  • Mar 14, 2007 6:55pm Mar 14, 2007 6:55pm
I have a kind of newby question.
All 3 jpy pairs seem to trade identically.
Looking back about 5 hours ago at usdjpy, eurjpy and gbpjpy if I were to take Phil's 1hr TC only on all 3 pairs long, it looks like I would be up over 400 pips!!!!!
I know that it would be extremly risky and SL's would probably prevented anyone from doing it but wow.
I'm in an eastern time zone and I work during the day. Is it a good idea to trade these pairs after 5:00pm eastern time?
  • #2,579
  • Mar 14, 2007 7:13pm Mar 14, 2007 7:13pm
Quoting pips4uandme
Hi FXHermit!

I have a stupid question....what does an inside bar mean? Is it a sign of indecision w/the market? is it like an inside day? Am I way off base? Thank you soooo much for helping me understand!

Pips
Here are a few inside bars in the 4 hour time frame. Notice how they tend to be a bit less "clean" in this shorter time frame than they were in the previously posted daily chart. However, also notice the one associated with the rounded top and a couple that also confirmed trend continuation.

P.S. A great thread for learning about price bar action is the James16 thread found under trading systems. A lot of that knowledge can be used to great effect with Phils wonderful MACD strategy. As traders we can never have enough knowledge - besides, I find learning to be part of the fascination of trading. Hope that helps.
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Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #2,580
  • Mar 14, 2007 7:22pm Mar 14, 2007 7:22pm
Just chiming in here...Looks like the E$ might be trying to fro another 'weak' rt. By, weak I mean the last few rt's were breaks down to the 21ma then back up. So, if another rt forms this may be another bounce of the 21 back to the long side...
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