4 Hour Strategy (MACD)

Quoting hard1head1

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Of course I was in, Remember what I said this morning.........To keep your eye on a huge breakout. I thought short, however, if you charted the short term triangle on the 5 minute chart before the news, it wouldn't have mattered. This is what you would have seen....

Now Im like a Vulcher, picking up the scralps on the retracement of the EURO. LOL

J

P.S. You would have had to wait for it, ( 2 1/2 hours ), but 120 pips is well worth it.

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Quoting Palmer

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Here's the updated pdf with all of the trades (the MACD turns) from the first of the year through the end of this month. I was battling a headcold all week and I'm just now getting over it, not fun. I'm hoping to get back into the groove for the upcoming week....

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Quoting pips4uandme

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OK... one more fun post before I get down to business.....

Anyone see DireXiv around? Is he now in the Bahamas? We have some awesome traders on this forum...Dire being one of them!!!

Hope to see you back soon...w/a tan

pips

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Quoting Palmer

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Here's the updated pdf with all of the trades (the MACD turns) from the first of the year through the end of this month. I was battling a headcold all week and I'm just now getting over it, not fun. I'm hoping to get back into the groove for the upcoming week....

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Quoting pips4uandme

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Hi all,

I have spent a few days backtesting this system w/EURJPY. I have never traded the pair before, so I have absolutely no idea how it moves. Hard1Head1 (aka, Jim), pointed it out to me...so I thought I'd see what the MACD 4 hour and I could do. Again, No prior knowledge of pair and did not pay attention to news releases.

I backtested 3 months worth of data (feb, march and april 2006). I kept a trade journal documenting my thoughts and planning my trades as I went forward tick by tick.

Rules were: Price action and MACD signal checked every 4 hours. Trades were entered and exited at the close of the candle indicated in the spreadsheet attached. (some trades lack times b/c I forgot to note in journal, instead it said next candle or some such gibberish). I used Trendlines, Pin bars (thanks you guys for turning me on to pins!), Nesting Dolls (aka, Inside Tops and Inside Bottoms)...Which I must absolutely 100% thank TamKras for teaching me (amazing results!). And of course, the Master, Phillip, who I will never be able to thank enough for creating this forum where I have become a much better trader, 4 Hr MACD signal!!!!!!
All trade details are in the attached PDF's...

Here is a summary of results:

3 months (feb. 1 - april 27) = 36 Trades
Net pips for period = 4218 (yes, 4,218!)...now, the way I calculate pips is each lot liquidated from a trade gets added to pip count. For example, if I have 10 mini's and I exit in 3 stages...the 3 stages get added together. No division occurs and no multiplication. Just straight addition (because each pip brought .X dollars into my account).

3 trades were losers
4 trades were BE
Win % = 96.10
Win Loss Ratio = 1.16
Feb = +930
March = +2173
Both months have 13 trades, with 1 loser ( I didn't have enough time to type journal up for April...I will one of these days...but It took me FOREVER to put journal into excel and then convert to pdf).

For anyone who is interested, I've attached the two months of backtesting journals for you to see how I think when planning the trades for the 4 hr. MACD -- now if I can only trade live this well

PS. Pip Pirate 2 was right when he said how amazed we would be when we got tuned in to the exotics w/this system!!

pps. if you want to print the pdf's don't forget to landscape your print set-up (they are landscaped to get more info in).

here is the march pdf. Feb is too big..(which is weird b/c it has less pages)...hmmm

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Quoting Chandra

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Hi Pippy,
Great job you have done in your back testing 3 months trades! Much greater job you have done my keeping the journal and posting it here! You cannot escape, pippy, you have to post the April journal. It is only 10 more trades!!
Thanks again. You have become a successful trader, not because of your trades, but because of keeping a good journal of your trades.

One question please:
In your posting, you sounded like you have used tick by tick data.
(...as I went forward tick by tick).
Did you not use 4-hr chart?
-Chandra.

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Quoting pips4uandme

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Hi Chandra,
Yes, I used the four hour chart...maybe I didn't use the right term...I went forward 1 4 hour candle at a time and made my decision on entry and trade management. I'll try to get April's Journal done soon (but I may use a different format...where I can Just type my notes up directly as written in my journal. Glad the info was useful to you.

Best
Pippy

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Quoting Palmer

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Ha...ha...ha...chooooooooooo!!!!! And up cometh the oyster. Wow, still have the runny nose but it's on the way out. Thanks for the kind words. Man, that Alka-Seltzer nighttime cold medicine really knocks me out, had some really funky dreams on that stuff, and she was a brunette!!!

Last week started off good but as Phillip said that was pretty much it. I hit that run on Monday then made a few on the 28th but the last few days, I couldn't watch anymore. I would have liked to have been sick enough to stay home from work and watch the 5min with Phill's method but I had to get some work done at the 'office'.

I've got the 4hr EURO$ trying to form a rt right now. I squished the chart down to get a brid's eye view of things and price is in an upward channel since the end of January; stuck right in the middle of it now. If this rt pans out I'll see if I can make a few. I just noticed that you can set and alert in MT4 for a certain time of day, not the chart time, it sounds on your computer time. So, instead of using my alarm clock I (you) can set MT4 to wake you up about 5 minutes before those early morning 4 hour candles complete. Now if I could only record that brunette's voice I met to use as my alarm...

pips4: Nice work on the EURJPY, guess we can all retire now!!!

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Quoting Palmer

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211:

Click on the alerts tab, then right click in the alert window. Select the condition time = and enter you wakee wakee tiime...that's it.

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Quoting Tw0eleven

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There's the problem...I don't have an alerts tab. At least I don't think I do...can't find it. Perhaps when I set up MT4, I altered my layout and it took it away? Whatever the reason, I can't find it!

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Quoting fuzzle

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I stumbled with the alerts tab. On the bottom between news and mailbox.

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Quoting Palmer

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Here's the updated pdf with all of the trades (the MACD turns) from the first of the year through the end of this month. I was battling a headcold all week and I'm just now getting over it, not fun. I'm hoping to get back into the groove for the upcoming week....

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