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4 Hour Strategy (MACD)

  • #19,981
  • Jun 5, 2009 7:18am Jun 5, 2009 7:18am
Quoting welshguy2000
Evening all,

....
Ok anyways onto the May review:

Numbers of trades = 10
....

Cheers WG
Thank you, this is a very interesting information to me: I fear I'm missing some trades and this is probably leading me to take several low probability / wrong signal trades.
Can I ask you/others if your are using some particular software for data mining / statistics of your trades ? I'm trying to make some home-made report showing statistic of my trades with some interesting results.

cheers,
Andy
  • #19,982
  • Jun 5, 2009 7:20am Jun 5, 2009 7:20am
Quoting Kamil2079
This is my chart.
thats not an ideal hanging man imo.... the trend up isnt significant enough and the tail isnt big enough... consiering the slope of your uptrend there isnt really any viable candlestick patterns... evening star looks average to me... good luck tho
Grabbing the bull by the horns!
  • #19,983
  • Jun 5, 2009 7:26am Jun 5, 2009 7:26am
Quoting Marubozu
Kamil2079, next time please post a chart. I can't see your claimed hanging man. What broker are you using? (Ok, I see you've posted the chart now)
...
Hi Marubozu, thanks for that.
That's true, in fact I don't care about news if forecast looks good.
My broker is Alpari UK.
  • #19,984
  • Jun 5, 2009 8:06am Jun 5, 2009 8:06am
Quoting Kamil2079
Hi, look at EURUSD on 4h chart, I thing there is now good signal to sell.

Reasons:
- we have still sHs patern not finished,
- nice evening star,
- red hangin man,
- broken 21EMA,
- very weak MACD signal.

I'm go in now.
SL = 1.4228
Tp = 1.4108
in at open candle

RR = 1 for me.
What happened with the trade.
  • #19,985
  • Jun 5, 2009 8:12am Jun 5, 2009 8:12am
Got whipsawed I guess...?
  • #19,986
  • Jun 5, 2009 8:16am Jun 5, 2009 8:16am
Quoting Marubozu
Got whipsawed I guess...?
You are right, I guess price direction but Non Farm Payroll hit my SL. My bad.
  • #19,987
  • Jun 5, 2009 8:16am Jun 5, 2009 8:16am
I was to much busy today at office but managed to
trade the GU round bottom.
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  • #19,988
  • Jun 5, 2009 8:20am Jun 5, 2009 8:20am
Quoting xeneric
Why are you taking a trade so close to the release of Non Farm Payroll ? It could be very risky.
Actually it was. Idea was good, rhythm was there, but due NFP volatility his SL was triggered easily.
  • #19,989
  • Jun 5, 2009 8:26am Jun 5, 2009 8:26am
Quoting Kamil2079
You are right, I guess price direction but Non Farm Payroll hit my SL. My bad.
Part of learning. I read so many times not only from these forum(unless your system is towards news) to not trade during NFP. Or other news.

The reasons is it could go either way initially. it makes no sense untill the dust settled down. Most of them closed their trade or at least put to breakeven and hope to ride out if it goes their way first.
  • #19,990
  • Jun 5, 2009 8:36am Jun 5, 2009 8:36am
I agree with Marubozu, its should be an up trend to declare a hanging man, And that in the chart showing a side way so that candlestick are not hanging man. if i not mistaken
  • #19,991
  • Edited 12:18pm Jun 5, 2009 11:59am | Edited 12:18pm
I have entered Long in EU and GU Reasons are same (though macd in EU not as good as in GU).

GU
Entry = 1.6018 SL = 1.5954 TP = Retracement levels 23 or 38.

EU
Entry = 1.4009 SL = 1.3965 TP = Retracement levels 23 or 38.

and EU is at 61.8% retracement.
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  • #19,992
  • Jun 5, 2009 10:03pm Jun 5, 2009 10:03pm
SELL 0.2slot eurusd first 0.1slot get +42pips in a few minutes
then set the other 0.1slot for -42pips as stop loss,
last i was stopped out ,totally i got 0pips
at least i give the market a chance to run!!!-----nell said
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  • #19,993
  • Jun 7, 2009 5:08am Jun 7, 2009 5:08am
Morning all,

I've just recorded the lesson 3 which will be all about money management / risk, stop losses and how to figure out when your trade is wrong - I will be uploading later today so please subscribe to my channel to receive an email of when it is live

http://www.youtube.com/user/sionsmith

Cheers WG
  • #19,994
  • Jun 7, 2009 8:33am Jun 7, 2009 8:33am
WG, it will be great!!!
THINK LIKE A FUNDAMENTALIST; TRADE LIKE A TECHNICIAN
  • #19,995
  • Jun 7, 2009 4:19pm Jun 7, 2009 4:19pm
Phillip

As I'm sure you have heard many times before,
Thank you for sharing your system.
I just finished reading all the pdf's I could find.
I found them very informative, And straight forward.
And look forward to applying them.
It's always a learning experience to look at a trade,
From another persons view

Spike
Will, Knowledge, Discipline, And tenacity=Success
  • #19,996
  • Jun 8, 2009 1:04am Jun 8, 2009 1:04am
Little trade on Cable and as i was typing this post TP was hit.
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  • #19,997
  • Jun 8, 2009 2:08am Jun 8, 2009 2:08am
There is a LONG in EU coming up.
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  • #19,998
  • Jun 8, 2009 2:29am Jun 8, 2009 2:29am
thank you it's now clear to me
  • #19,999
  • Jun 8, 2009 2:47am Jun 8, 2009 2:47am
Price broke every level i mentioned.
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  • #20,000
  • Edited 3:17am Jun 8, 2009 2:52am | Edited 3:17am
But as long EU is falling gap between 8-21 Ema's and PRICE is widening and so will be the profit.
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