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4 Hour Strategy (MACD)

  • #3,041
  • Mar 26, 2007 3:56am Mar 26, 2007 3:56am
Dear Phillip,
I just could't stand apart not to thank you for a wonderful system and all the teaching you are doing here. I have just read the whole thread and saw how many people thanked you. And you really, really deserve it. So here is my THANK YOU too !
I had been trading for a year, randomly as i can see it now, and was already close to the sad conclusion that on forex market people only lose their money and can't earn them here. Your system returned the grounds back to me and gave me the understanding of the market. I really want to become a professional trader.
Thank to all the participants of this tread too, as you are all very generous and tactful peaople. Now i have so much to learn and that is wonderful.

Ira/Ukraine
  • #3,042
  • Mar 26, 2007 9:17am Mar 26, 2007 9:17am
Starting off Monday on a good note. Hope everyone got in, +57 right now...
Attached Image
  • #3,043
  • Mar 26, 2007 9:32am Mar 26, 2007 9:32am
Well, on MIG demo, every todays 4H candle was of oposite MACD color, kinda confusing .. I guess this is one of the cases, when it sometimes does depend when your MT starts the 4H candle. Anyway, let's what happens now.

Quoting Palmer
Starting off Monday on a good note. Hope everyone got in, +57 right now...
  • #3,044
  • Mar 26, 2007 10:36am Mar 26, 2007 10:36am
Hi,

first I want to thank Nel for his effort on this and other threads.

I saw also the round bottom today, but this was just defined at 16:00 CET, when news came out in US (New Home Sales).

How are you dealing news in the 4h system, just take the signal, or wait what for the news?

br
panther_trader
  • #3,045
  • Mar 26, 2007 10:46am Mar 26, 2007 10:46am
Info
Attached File(s)
File Type: zip DailyWrapup 26March.zip   815 KB | 1,655 downloads
  • #3,046
  • Mar 26, 2007 10:47am Mar 26, 2007 10:47am
Quoting panther_trader
Hi,

first I want to thank Nel for his effort on this and other threads.

I saw also the round bottom today, but this was just defined at 16:00 CET, when news came out in US (New Home Sales).

How are you dealing news in the 4h system, just take the signal, or wait what for the news?

br
panther_trader
In my experience with this system, it seems that you should just take the signal. The only exception is for major news...interest rate statements, non-farm payroll, etc... Those are unpredictable and a lot of whipsawing could happen. Anyone else, feel free to add to this!
  • #3,047
  • Mar 26, 2007 11:19am Mar 26, 2007 11:19am
Quoting panther_trader
Hi,

first I want to thank Nel for his effort on this and other threads.

I saw also the round bottom today, but this was just defined at 16:00 CET, when news came out in US (New Home Sales).

How are you dealing news in the 4h system, just take the signal, or wait what for the news?

br
panther_trader

It is a sort of a mix situation. Sometimes the MACD will give a signal because news tends to leak out or expectations move it before the time and it sometimes works out and sometimes not. It is only the big news that I will not get involve. But keep in mind that if the MACD gives a short signal and the news is the otherway to act quick to cut the losses.
  • #3,048
  • Mar 26, 2007 12:04pm Mar 26, 2007 12:04pm
Students.

Stick to the rules of the system as Phillip says, and please only post trades made to the rules,that is what this thread is for.

Watch,Listen,Learn and Benefit from this mans generousity.
  • #3,049
  • Mar 26, 2007 12:25pm Mar 26, 2007 12:25pm
Even though the news came out right as the candle closed, the formation was still there. The majority of eco news comes out at 8:30 (15:30 FXDD server time)EST USA. I use FXDD so their next 4hr candle opens 30 mins AFTER most of the news comes out. This gives the market some time to settle down after those releases (most of the time). My thinking is that this 30 mins 'helps' the signal...
  • #3,050
  • Mar 26, 2007 12:30pm Mar 26, 2007 12:30pm
Quoting Palmer
Even though the news came out right as the candle closed, the formation was still there. The majority of eco news comes out at 8:30 (15:30 FXDD server time)EST USA. I use FXDD so their next 4hr candle opens 30 mins AFTER most of the news comes out. This gives the market some time to settle down after those releases (most of the time). My thinking is that this 30 mins 'helps' the signal...

It most definitely does. If you know which way it will go like todays Hous data it was obvious Eur strengthening and you could enter the MACD signal
  • #3,051
  • Mar 26, 2007 1:28pm Mar 26, 2007 1:28pm
Hi guys long time lurker first time poster here! I came upon this thread about 3 weeks ago. I was actually put of by the title 300 pips+ a month. i thought " yeah right whatever" but after reading the excellent PDF's and working through the excercise about 4 times( still have to go through them a few more times a lot of subtle points which im sure i havent picked up yet) i now see that this sytem has REAL merit. Im demo trading at the moment and thats proving quite successful My only big fault is trying to predict what the formation of the MACD is going to be and jumping in before the pattern has formed only to have a round top turn into a trend continuation!! Im weaning myself of this rather childish approach and just let the MACD do the talking.

I just wanted to say that anyone looking at this thread has to in my opinion start from Page 1 of this thread and work through the PDF's( especially the excercise pdf a lot of effort has gone into that and it will reward you many times over) and read all the questions and answers that people have asked here in the thread.

this system in my limited forward testing and rather extensive back testing gurantees you more pips won then pips lost and that at the end of the day is all you need.

I listen to your daily wrap ups very carefully and get a lot out of them. please continue with them.

PS Im glad to say i caught the EURUSD move today!! My only problem is work sometimes precludes me checking every 4 hours but maybe one day i will get to this fulltime instead of work!!

Thanks you Phil and everyone else who has contributed i hope one day to contribute something useful to this thread
  • #3,052
  • Mar 26, 2007 3:41pm Mar 26, 2007 3:41pm
AriTron:

Yes, there can be times when the temptation to jump in before the candle closes is great. Wait for the candle to close. Jump in early on your demo account or impulse trade on the demo account. I've seen candles do a 180 turn before they close lots of times after I've jumped the gun. I'm done with that, learned that lesson one too many time$.
  • #3,053
  • Mar 26, 2007 5:35pm Mar 26, 2007 5:35pm
Hi guys!

Just want to post saying, this market is confusing me! so, I'm sitting on sidelines.

Just listened to Phillips wrap-up, and wanted to say, sticking w/sytem...I love it. Just hate all the waiting. But, you are so right about the discipline and patience needed to be successful. Needed the reminder today, so thank you. I too was waiting for the eurusd to retrace to 89...and the mkt chose not to follow the rules (hehe). So, do to my confusion, I'm keeping my pips in the account, and waiting for a good trade!

(my plans for the market made over the weekend haven't panned out yet...for cable...and I think the chop will keep me out...). Swissie was a sweatheart though...hope someone caught it!

Happy trading all!
  • #3,054
  • Mar 26, 2007 9:16pm Mar 26, 2007 9:16pm
Quoting pips4uandme
Hi guys!

Just want to post saying, this market is confusing me! so, I'm sitting on sidelines.

Just listened to Phillips wrap-up, and wanted to say, sticking w/sytem...I love it. Just hate all the waiting. But, you are so right about the discipline and patience needed to be successful. Needed the reminder today, so thank you. I too was waiting for the eurusd to retrace to 89...and the mkt chose not to follow the rules (hehe). So, do to my confusion, I'm keeping my pips in the account, and waiting for a good trade!

(my plans for the market made over the weekend haven't panned out yet...for cable...and I think the chop will keep me out...). Swissie was a sweatheart though...hope someone caught it!

Happy trading all!
hi Pips. i stayed on the sideline too, ezcept for a few pips from the gbp/jpy wich i do the 5 min phillip strategy. otherwise still plugging along . many pips for all
  • #3,055
  • Mar 26, 2007 9:18pm Mar 26, 2007 9:18pm
Quoting Phillip Nel
Info
.
Hi Phillip,
thanks for your daily wrapups. Would you be able to post your daily wrapups in MP3 format? If possible that will be great if not, its no problem.
.
I would love to listen these while i am on the road for work or home, because i want to listen to those multiple times.
.
Thanks
  • #3,056
  • Mar 26, 2007 10:49pm Mar 26, 2007 10:49pm
I am new to forex factory and have been paper trading for 6 months. I want to thank you Phillip for your generosity and time.I also want to thank the participants who willingly share their wisdom. So much knowledge in these forums..amazing.
  • #3,057
  • Mar 26, 2007 11:43pm Mar 26, 2007 11:43pm
Waiting for the RT on the 4:00
  • #3,058
  • Mar 27, 2007 2:33am Mar 27, 2007 2:33am
u won't get the RT b4 the news
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #3,059
  • Mar 27, 2007 4:44am Mar 27, 2007 4:44am
Took the rt on the GBPUSD w/1 hour early signal..short at 1.9662 just closed out for +20 pips. will look to reenter again later if there is another failure of the 1.9690 area w/Macd still giving short signal.
  • #3,060
  • Mar 27, 2007 5:20am Mar 27, 2007 5:20am
hi,

I think we have a valid 1h strategy entry now for the Eur/Usd, please look at the image. Or should we also wait for a particular angle of the MA 89?
Any comments?

BTW: Are posts of possible entries wished in this thread, or should we skype as in the 5 min thread?


br
panther_trader
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