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4 Hour Strategy (MACD)

  • #2,981
  • Mar 22, 2007 10:40am Mar 22, 2007 10:40am
Hi,

I downloaded a Phillips alert that is supposed to sound evry time a down/up bar is drawn in the MACD. Big mistake!!! this alert just goes off and there is no way of putting it off. I do not know where it is to disable it, or to delete it. It is not in the alarm tab. Can somebody help me with this????? Please!!!!!
  • #2,982
  • Mar 22, 2007 10:54am Mar 22, 2007 10:54am
Quoting alcastro
Hi,

I downloaded a Phillips alert that is supposed to sound evry time a down/up bar is drawn in the MACD. Big mistake!!! this alert just goes off and there is no way of putting it off. I do not know where it is to disable it, or to delete it. It is not in the alarm tab. Can somebody help me with this????? Please!!!!!
Alcastro,

I had the same problem.
The alert option starts and stays for a long time.
To disable it, put you mouse pointer over any of the MACD lines, right click and select properties.
Go to the 'Input' label
You will find and alert tab end at it's right you can double clisk and disable it.
Good luck
  • #2,983
  • Mar 22, 2007 11:09am Mar 22, 2007 11:09am
Quoting ~Shard~
I'd personally wait for the next candle (for me it's in an hour).
Oh, it may be too late... I've already lost about +30 pips potential profit by waiting for the next MACD blue bar. At long last the bounce from 38% Fibo is also a signal. It seem now the price stuck at Fibo 62%.
Ben
  • #2,984
  • Mar 22, 2007 11:15am Mar 22, 2007 11:15am
Quoting haniam
Alcastro,

I had the same problem.
The alert option starts and stays for a long time.
To disable it, put you mouse pointer over any of the MACD lines, right click and select properties.
Go to the 'Input' label
You will find and alert tab end at it's right you can double clisk and disable it.
Good luck

Thanks haniam,

I will do that as soon as i am at my trading computer. If it works, you have saved my mental sanity!!! (or at least what is left of it)
  • #2,985
  • Mar 22, 2007 11:16am Mar 22, 2007 11:16am
Quoting Benf
Oh, it may be too late... I've already lost about +30 pips potential profit by waiting for the next MACD blue bar. At long last the bounce from 38% Fibo is also a signal. It seem now the price stuck at Fibo 62%.
30+ pips? How? A couple hours ago it was around 1.2100, it went up to about 1.2120 and is now at 1.2117. There has been no +30 pip range by my charts for a little while... Plus, if you're following Philiip's strategy you wouldn't have received a strong buy signal to get in, especially not at that lowest level.

Just remember, hindsight is always 20/20.
  • #2,986
  • Mar 22, 2007 11:46am Mar 22, 2007 11:46am
I took this one when I got home from work this afternoon. It was after the second red MACD but the price retraced nicely so I could get in with low risk.

Entry 1.3360
S/L 1.3390

T/P 20trailing stop. Had to go to town therefore trailing stop.

Will manage it now manualy.
Attached Image
  • #2,987
  • Edited 4:18pm Mar 22, 2007 11:52am | Edited 4:18pm
30+ pips? How? A couple hours ago it was around 1.2100, it went up to about 1.2120 and is now at 1.2117

No, I don't strictly follow the Phillip's model of trading. If you were read my early posts, I often enter on H1 signals because in many cases they are a good initiator for H4 movement (blue arrow, whitened bar). I should went long in 1.2090 area with S/L near 1.2060. My second mistake was I've placed TP too close and it triggered at 1.2146. Anyway, there was a good trade without any stress. Wish you the same.

http://forexbarometer.com/graph/usd-chf-070322-h1.gif
Ben
  • #2,988
  • Mar 22, 2007 11:55am Mar 22, 2007 11:55am
Quoting Benf
No, I don't strictly follow the Phillip's model of trading. If you were read my early posts, I often enter on H1 signals because very often they are a good initiator for H4 movement. My second mistake was I've placed my TP too close and it triggered at 1.2146. Anyway, there was good trade without any stress. Wish you the same.
Ah, gotcha, thanks for the clarification.

And yes, hindsight shows there was a good trade in the end, but don't fret, as there will always be another one - that's the beauty of forex trading!
  • #2,989
  • Mar 22, 2007 12:29pm Mar 22, 2007 12:29pm
Is anyone using trendlines on their MACD to help w/trigger decisions? I've been drawing them for the last month and they seem to help w/confirmation on patterns. Look at how it shows the top on the EURUSD four bars ago (12 hours). Coupled with the two stars at top...looked like a perfect 4 hr RT short trade.
Attached Image
  • #2,990
  • Mar 22, 2007 12:34pm Mar 22, 2007 12:34pm
Also, MACD TL showed a good short signal for Cable on the last bar....and I think I see a pin bar (thanks again guys for the info...have been studing the Jamess 16 thread info w/Phillip's and things are so much clearer).
Attached Image
  • #2,991
  • Mar 22, 2007 12:42pm Mar 22, 2007 12:42pm
Phellow Phillip Phollowers:

I put together a pdf file that shows all of the 4HR MACD turns (from red to green and green to red) on the EUR/USD since the beginning of this year up until just a few hours ago. The 4 hour charts show the date and the time of the MACD change. The 1 hour charts show the same time that the 4 hour chart MACD bar changed color. In the charts the 89ma is the only dashed line and the the other ma's are solid. Note: My broker is FXDD which is GMT + 2. Your charts will look different with a different broker. But, this is still a good study method to see what happens during both timeframes. There are no trendlines or channels on the charts, just the MACD and the ma's. All the charts have a white background to make it easier to print if you want. I have white background charts and black background charts running specifically for this purpose of 'studying'. It's a lot easier on the eyes at 2am to look at a black background chart vs. a white one. Anyway, use this any way you like. It's purely for study...

Hope everyone banked some pip$ these last few days....
Attached File(s)
File Type: pdf Charts.pdf   498 KB | 1,730 downloads
  • #2,992
  • Mar 22, 2007 12:44pm Mar 22, 2007 12:44pm
Thanks Palmer, your efforts are appreciated!
  • #2,993
  • Mar 22, 2007 12:58pm Mar 22, 2007 12:58pm
Quoting Palmer
Phellow Phillip Phollowers:

I put together a pdf file that shows all of the 4HR MACD turns (from red to green and green to red) on the EUR/USD since the beginning of this year up until just a few hours ago. The 4 hour charts show the date and the time of the MACD change. The 1 hour charts show the same time that the 4 hour chart MACD bar changed color. In the charts the 89ma is the only dashed line and the the other ma's are solid. Note: My broker is FXDD which is GMT + 2. Your charts will look different with a different broker. But, this is still a good study method to see what happens during both timeframes. There are no trendlines or channels on the charts, just the MACD and the ma's. All the charts have a white background to make it easier to print if you want. I have white background charts and black background charts running specifically for this purpose of 'studying'. It's a lot easier on the eyes at 2am to look at a black background chart vs. a white one. Anyway, use this any way you like. It's purely for study...

Hope everyone banked some pip$ these last few days....

Great job Palmer.

Thanks
  • #2,994
  • Mar 22, 2007 1:14pm Mar 22, 2007 1:14pm
Quoting Palmer
Phellow Phillip Phollowers:

I put together a pdf file that shows all of the 4HR MACD turns (from red to green and green to red) on the EUR/USD since the beginning of this year up until just a few hours ago. The 4 hour charts show the date and the time of the MACD change. The 1 hour charts show the same time that the 4 hour chart MACD bar changed color. In the charts the 89ma is the only dashed line and the the other ma's are solid. Note: My broker is FXDD which is GMT + 2. Your charts will look different with a different broker. But, this is still a good study method to see what happens during both timeframes. There are no trendlines or channels on the charts, just the MACD and the ma's. All the charts have a white background to make it easier to print if you want. I have white background charts and black background charts running specifically for this purpose of 'studying'. It's a lot easier on the eyes at 2am to look at a black background chart vs. a white one. Anyway, use this any way you like. It's purely for study...

Hope everyone banked some pip$ these last few days....
Hi Palmer

Tx a lot, this is really helpful and would make excellent bed-time reading material. Exspecially for beginners.

Well done.

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
  • #2,995
  • Mar 22, 2007 1:27pm Mar 22, 2007 1:27pm
Quoting Palmer
Phellow Phillip Phollowers:

I put together a pdf file that shows all of the 4HR MACD turns (from red to green and green to red) on the EUR/USD since the beginning of this year up until just a few hours ago. The 4 hour charts show the date and the time of the MACD change. The 1 hour charts show the same time that the 4 hour chart MACD bar changed color. In the charts the 89ma is the only dashed line and the the other ma's are solid. Note: My broker is FXDD which is GMT + 2. Your charts will look different with a different broker. But, this is still a good study method to see what happens during both timeframes. There are no trendlines or channels on the charts, just the MACD and the ma's. All the charts have a white background to make it easier to print if you want. I have white background charts and black background charts running specifically for this purpose of 'studying'. It's a lot easier on the eyes at 2am to look at a black background chart vs. a white one. Anyway, use this any way you like. It's purely for study...

Hope everyone banked some pip$ these last few days....
Thanks for the effort
  • #2,996
  • Mar 22, 2007 1:31pm Mar 22, 2007 1:31pm
Quoting pips4uandme
Is anyone using trendlines on their MACD to help w/trigger decisions? I've been drawing them for the last month and they seem to help w/confirmation on patterns. Look at how it shows the top on the EURUSD four bars ago (12 hours). Coupled with the two stars at top...looked like a perfect 4 hr RT short trade.
It can be very usefull. You can use them as part of the emotional part of the trade decision as it shows a building up and the turning and or breakout points. Just another weapon that is in harmony with the 4HourMACD
  • #2,997
  • Mar 22, 2007 2:38pm Mar 22, 2007 2:38pm
I can't thank every member enough on this forum for all of the input! My trading has improved dramatically since joining. Phillips wise, kind and informative teaching style keeps reinforcing the basics and all the members keep reminding me not to forget to look at the big picture in making trading decisions (while keeping the method simple). You all are the best!!!! Thank you so much!!!!

Pips

ps. Has anyone seen TamKras in the Bahamas? May she and her piggy be enjoying the warm sunshine on their vacation.
  • #2,998
  • Mar 22, 2007 2:41pm Mar 22, 2007 2:41pm
Quoting Palmer
Phellow Phillip Phollowers:

I put together a pdf file that shows all of the 4HR MACD turns (from red to green and green to red) on the EUR/USD since the beginning of this year up until just a few hours ago. The 4 hour charts show the date and the time of the MACD change. The 1 hour charts show the same time that the 4 hour chart MACD bar changed color. In the charts the 89ma is the only dashed line and the the other ma's are solid. Note: My broker is FXDD which is GMT + 2. Your charts will look different with a different broker. But, this is still a good study method to see what happens during both timeframes. There are no trendlines or channels on the charts, just the MACD and the ma's. All the charts have a white background to make it easier to print if you want. I have white background charts and black background charts running specifically for this purpose of 'studying'. It's a lot easier on the eyes at 2am to look at a black background chart vs. a white one. Anyway, use this any way you like. It's purely for study...

Hope everyone banked some pip$ these last few days....
Thanks for all the charts! What a great "historical" perspective.

You are AWESOME!!! (but, you knew that already, right? )

Time to stop "gushing" and get back to work!

Best,
Pips
  • #2,999
  • Mar 22, 2007 4:48pm Mar 22, 2007 4:48pm
What is the subject matter that Bernanke is talking about tomorrow that hasn't already been said? It's a red flag and the markets might be lulled to sleep this evening just as before...

I plan on making the 'chart study pdf' a continuing thing. Hope it helps. I'll repost at the end of each month, aye? No, don't live in Canada, too cold. Beers.
  • #3,000
  • Edited 5:43pm Mar 22, 2007 5:14pm | Edited 5:43pm
Hi!

I thought I had a pleasure to write post number 3000 on that great forum but Palmer was first

I’ve got a few problems:

1. After opening a trade
a) How do you manage your trade when price stopped between your stoploss and profit target and doesn’t move for x hours?
b) When you move your sl to break even? Does it depend on a pair?
c) Do you close when nothing happened and fundamental announcement is coming?
d) Do you close when another signal which is counter to your position comes? Why?
What are your rules?

2. Before opening a trade
I noticed that sometimes people open a trade close to 00 level. For example RT on gbp yesterday and TC on jpy today. When do you treat this level as a barrier? When is less important? I noticed that first approach is more important like today on eur (1.3400). What about other situations? Any examples.

I hope I am clear

Thanks

Woju2
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