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4 Hour Strategy (MACD)

  • #2,621
  • Mar 15, 2007 7:21am Mar 15, 2007 7:21am
Quoting fxnewbie 71
i like the way u analysis the Eur/Usd pair,so am i correct to say that it will head south soon? nose-diving? cool abt your analysis,keep them coming,i am interested abt teaching and i am still learning...thanks tamkras!
When many traders think about the same it ultimately materializes. In my trades I strive to eliminate doubts. I follow what I see. I want to short it.
  • #2,622
  • Mar 15, 2007 7:27am Mar 15, 2007 7:27am
I continue to be interested in usd/jpy pair. I am sure you saw my earlier posts regarding this pair lost in a crooked channel. I was stupid enough yesterday not to notice the same thing as you see it now on this chart. I leave it up to you to go there as this is a high-risk wide-swing pair. Yours, T.
Attached Image
  • #2,623
  • Mar 15, 2007 8:11am Mar 15, 2007 8:11am
Quoting tamkras
I continue to be interested in usd/jpy pair. I am sure you saw my earlier posts regarding this pair lost in a crooked channel. I was stupid enough yesterday not to notice the same thing as you see it now on this chart. I leave it up to you to go there as this is a high-risk wide-swing pair. Yours, T.
It's pitty price cannot go back in time, the round would close, that would be nice round price action )

But kiddin' aside, hats down Tamara, you post briliant messages, hope to see more from you.
Thanks a lot.
Endy
  • #2,624
  • Mar 15, 2007 8:20am Mar 15, 2007 8:20am
Tam:

"I was stupid enough yesterday not to notice the same thing as you see it now on this chart. I leave it up to you to go there as this is a high-risk wide-swing pair. Yours, T."

If we tried to find every formation or nuance in every chart, there wouldn't be time to breathe. It'll happen again, but I'm sure that you already know that ;-).

Breathe......
  • #2,625
  • Mar 15, 2007 8:48am Mar 15, 2007 8:48am
Quoting tamkras
I continue to be interested in usd/jpy pair. I am sure you saw my earlier posts regarding this pair lost in a crooked channel. I was stupid enough yesterday not to notice the same thing as you see it now on this chart. I leave it up to you to go there as this is a high-risk wide-swing pair. Yours, T.

Tamara,

you are the Picasso of this forum. Always showing us what is in front of our eyes in new, exciting, innovative, creative ways. And most importantly: profitable ways!!!
  • #2,626
  • Mar 15, 2007 9:58am Mar 15, 2007 9:58am
Hi guys, I need help in determining the effective stop loss level. My SL is getting hit often. I am setting it at +-33 pips. If EMA21 is close by I will place it a few pips below/above it.

Where do you guys place your SL? please help thanks.
  • #2,627
  • Mar 15, 2007 10:14am Mar 15, 2007 10:14am
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Attached File(s)
File Type: zip DailyWrapup 15March.zip   811 KB | 1,576 downloads
  • #2,628
  • Mar 15, 2007 10:17am Mar 15, 2007 10:17am
Quoting alcastro
Tamara,

you are the Picasso of this forum. Always showing us what is in front of our eyes in new, exciting, innovative, creative ways. And most importantly: profitable ways!!!
oh, I do not deserve it! But many thanks, anyway, Alcastro and endy for your kind words. I feel there is a huge battle going on right now within this pair usd/jpy, many a warriors fall as they fight to take another height. But all we can see is these pitiful tick, tick of the price.
  • #2,629
  • Mar 15, 2007 10:38am Mar 15, 2007 10:38am
Quoting ramrocket
Hi guys, I need help in determining the effective stop loss level. My SL is getting hit often. I am setting it at +-33 pips. If EMA21 is close by I will place it a few pips below/above it.

Where do you guys place your SL? please help thanks.
Hi ramrocket

Phillip did an excellent mp3 yesterday on SL. I also follow his method by looking at the previous candle:

To determine where to put the SL - Just above (short trade) or below (long trade).

I calculate the number of pips needed for the SL and then I look for my profit taking target and calculate the pips.

Next I do the RR calculation - if it 1:1 or better, I do take the trade. If it is less than 1:1, I'll pass that trade and wait for the next set-up (meanwhile trading the 5 min intraday system (while waiting for the signals to come through))

What I do with the 5 min system, is to put my physical SL 20pips away from the entry but I do have a mental SL of just 10 pips (that is the rule for the 5 min system). If the price goes against me for 10 pips, I do close the trade and take the 10pips loss. The 20 pips SL is just a safety mechanism for if my link with my broker goes down.

Hope it helps.

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,630
  • Mar 15, 2007 10:54am Mar 15, 2007 10:54am
Quoting Palmer
Tam:

"I was stupid enough yesterday not to notice the same thing as you see it now on this chart. I leave it up to you to go there as this is a high-risk wide-swing pair. Yours, T."

If we tried to find every formation or nuance in every chart, there wouldn't be time to breathe. It'll happen again, but I'm sure that you already know that ;-).

Breathe......
this is very true, Palmer. I simply failed yesterday across the board. I monitor several currencies as they develop in time - usd/jpy is one of them. So, I noticed something (curved descending channel) a while ago and watched the pair closely. I was in an out, in and out - with profits. Now, on 3rd time I did not look at this channel and simply walked away from the price breakout which happened on a bigger picture. I exited in weakness, I confess. But I breathed yesterday a lot in the open, re-thinking what happened, my trade station off. The market was right there, according to my plan and I deserted, fled. I have to take this pill. The mistake was simple. The exit was not part of the plan and something that I changed on the fly, purely emotional. I was o.k. to take small gains and lost the bigger picture which a better, wiser part of me worked out long time ago. Just thinking out load.

I do not say "shoulda, woulda" as I know we need to plan new and exciting plays.
  • #2,631
  • Mar 15, 2007 11:16am Mar 15, 2007 11:16am
Quoting Golfer
Hi ramrocket

Phillip did an excellent mp3 yesterday on SL. I also follow his method by looking at the previous candle:

To determine where to put the SL - Just above (short trade) or below (long trade).

I calculate the number of pips needed for the SL and then I look for my profit taking target and calculate the pips.

Next I do the RR calculation - if it 1:1 or better, I do take the trade. If it is less than 1:1, I'll pass that trade and wait for the next set-up (meanwhile trading the 5 min intraday system (while waiting for the signals to come through))

What I do with the 5 min system, is to put my physical SL 20pips away from the entry but I do have a mental SL of just 10 pips (that is the rule for the 5 min system). If the price goes against me for 10 pips, I do close the trade and take the 10pips loss. The 20 pips SL is just a safety mechanism for if my link with my broker goes down.

Hope it helps.

Willem
Hi Golfer, thanks for the reply. I am mainly working on the 4H chart.
Here is a little program I wrote to fascilitate RR calculation. Email me if you guys can use it.
Attached Image
  • #2,632
  • Mar 15, 2007 11:19am Mar 15, 2007 11:19am
I have a question for the people who have a great grasp of this method.

On my platform i watch 2 main pairs eurusd and usdjpy, these are my favorites.

My question is in regard to the 1H section of this system.

Now as you may have noticed alot of the trend continuation off of the 21ema on the 4H are hard to get into because price has moved so much by the time you have a signal. What i have been doing is watching for price to come down to the 21ema and then watchin the 1H. at this time price is normally bouncing off of the 89ema on the 1H, I then wait for the signal on the 1H to take the trade in the direction of the trend.

For an example please look at the EURUSD today at 8am gmt on the 4H then look at the 1H as it bounces not only off of the ema but also off of the trend line and 3200 mark. I took this trade.

Is this a correct way of catching the trend continues off of the 4H? or do you think it is high risk because the 4H has not given the signal yet?

Thanks

DD
  • #2,633
  • Mar 15, 2007 11:22am Mar 15, 2007 11:22am
DigiD:

"I then wait for the signal on the 1H to take the trade in the direction of the trend."

What is your signal?
  • #2,634
  • Mar 15, 2007 11:43am Mar 15, 2007 11:43am
Quoting Palmer
DigiD:

"I then wait for the signal on the 1H to take the trade in the direction of the trend."

What is your signal?

My signal was that the MACD had gone through 0 and turned around giving a green bar, once that bar closed i took the trade.

Thanks
DD
  • #2,635
  • Mar 15, 2007 11:50am Mar 15, 2007 11:50am
I hired a coder to whip up an alert for the macd to help Phillip and everyone when they are sleeping.

It has option for email alerts too.

I have not been able to test it properly yet but let me know if you find any problems. It gives the alert on the close of the bar if it has gone from + green to a red - bar or from red to green.

enjoy

DD
Attached File(s)
File Type: ex4 MACD_H4_300_v100.ex4   5 KB | 729 downloads
  • #2,636
  • Mar 15, 2007 11:57am Mar 15, 2007 11:57am
Quoting Digitaldean
I have a question for the people who have a great grasp of this method.

On my platform i watch 2 main pairs eurusd and usdjpy, these are my favorites.

My question is in regard to the 1H section of this system.

Now as you may have noticed alot of the trend continuation off of the 21ema on the 4H are hard to get into because price has moved so much by the time you have a signal. What i have been doing is watching for price to come down to the 21ema and then watchin the 1H. at this time price is normally bouncing off of the 89ema on the 1H, I then wait for the signal on the 1H to take the trade in the direction of the trend.

For an example please look at the EURUSD today at 8am gmt on the 4H then look at the 1H as it bounces not only off of the ema but also off of the trend line and 3200 mark. I took this trade.

Is this a correct way of catching the trend continues off of the 4H? or do you think it is high risk because the 4H has not given the signal yet?

Thanks

DD
The 1hour today have been inbetween the 21EMA and 89SMA twice before yesterday and the day before confirming the slower movement and it was absolutely correct to take it.
Well done
  • #2,637
  • Mar 15, 2007 11:59am Mar 15, 2007 11:59am
Since we have so many people trading in here...and doing well. I was curious if people could post when they have the most successful trades? Do you get your signal and take it during the Asian session, London or US? Also, how long do you typically stay in a trade...a couple hours, half a day, 1 or 2 days? Just on average...I know each trade is unique with different t/p's.
  • #2,638
  • Mar 15, 2007 11:59am Mar 15, 2007 11:59am
Quoting Digitaldean
I hired a coder to whip up an alert for the macd to help Phillip and everyone when they are sleeping.

It has option for email alerts too.

I have not been able to test it properly yet but let me know if you find any problems. It gives the alert on the close of the bar if it has gone from + green to a red - bar or from red to green.

enjoy

DD

THANKS!!!!!!!!!!!!!!!!
It is going to help me big time.
  • #2,639
  • Mar 15, 2007 12:04pm Mar 15, 2007 12:04pm
Thanks DD:

I've been working/looking for that as well. Another good 'alert' would be if the 4hr is approaching the 21. But, instead of it being the 21 a shorter ma could be used because the 4hr doesn't necessarily have to hit the 21, it could be a few pips above it (for an entry back to the long side) or a few pips below it (for an entry back to the short side). The 21 is still used a the 'rule' and what is plotted on the chart but the alert could be maybe a 17ma. This should be when the price crosses the ma, not closes. So, if the 4hr is trending well and the price crosses the 17ma, on it's way to the 21ma, an audible alert and/or email would be sent. Any thoughts???
  • #2,640
  • Mar 15, 2007 12:09pm Mar 15, 2007 12:09pm
Quoting tamkras
I continue to be interested in usd/jpy pair. I am sure you saw my earlier posts regarding this pair lost in a crooked channel. I was stupid enough yesterday not to notice the same thing as you see it now on this chart. I leave it up to you to go there as this is a high-risk wide-swing pair. Yours, T.

Hope everyone sees where I am now, sitting on a new height, enjoying the view. Those who were brave enough could buy on a pullback to the 117.00 level and could rake their 70 pips in valour. My hat is off in respect to those who fell for the advance of my piggy's army. I know many are thinking when she is going to stop. Do not ever dream about it.
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