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4 Hour Strategy (MACD)

  • #20,381
  • Edited 7:47pm Jul 20, 2009 7:14pm | Edited 7:47pm
Quoting gujjubond
Hi there, I have shorted on EY at 133.94

reasons:
MACD Round top
Evening Star at top of the up trend

My Profit target is 21ema

Stop loss above trendline.. rightnow i am down -20pips..

what you guys think. is this valid trade? .. approx 40 pip gain i will set it to breakeven.

shaggy
Your trade is looking very good so far. Nearly 40 pips.
  • #20,382
  • Edited 7:44pm Jul 20, 2009 7:25pm | Edited 7:44pm
Quoting swingdjpj
In keeping with what I have said about the bigger picture, I took a few positions overnight. I took the TC on the EURUSD and the AUDUSD. The EURUSD trade was an 1.4130 entry with a 1.4060 stop. I moved the stop to breakeven when it was near the prior high of July 1st.

I also took the GBPUSD long based more on the support it found at the moving averages. After testing the major averages, it formed a nice bullish candle along with a round bottom on the macd. I felt it gave me a good RR by having the stop just below the entry candle which was resting...
I hope you banked lots of pips I took a similar trade on GU but later than you. I took the big candle off the 8 EMA. You must have made a lot of pips coming into the trade so early.
  • #20,383
  • Jul 20, 2009 10:51pm Jul 20, 2009 10:51pm
Quoting xeneric
I hope you banked lots of pips I took a similar trade on GU but later than you. I took the big candle off the 8 EMA. You must have made a lot of pips coming into the trade so early.
Thanks for the well wishes Xeneric. I did bank good pips on that one. In fact, I just closed it for 144 pips. I do trade this method somewhat differently than some of you. I have adopted a style that suits me. It is one where I sometimes give back a bit of my gains but overall the statistics show it works for me. I don't use any targets. I don't do any scaling in or out and I try to stay in for a longer time, usually until I get a candle that tells me to get out. I also ignore candles durning the North American session, which is somewhat counter-intuitive for someone in Florida. :-) This is why I didn't close on the big red candle from 8am NY time. I only finally just closed it because the prior green candle couldn't close above the high of that red one and really only because my other somewhat correlated positions did give me signals to close them (all with nice gains).

Good trading all.
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  • #20,384
  • Jul 21, 2009 12:09am Jul 21, 2009 12:09am
Quoting xeneric
Welcome trader100. Unfortunately I can't see your chart. Did you click on file-> save as picture in MT4 platform ? Try again. Looking forwards to seeing your trade. If others can see the chart, please tell me.
Hi. My trade is still open. Already have +104 pips still about 100 hundred to go. Now I'm waiting for one more wave to happen before I get my profit and I think I will take this trade one more time in the next wave just with a smaller stoploss. If wave doesn't happen, I'm just going to wait for my profit
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  • #20,385
  • Jul 21, 2009 12:17am Jul 21, 2009 12:17am
Quoting xeneric
Welcome trader100. Unfortunately I can't see your chart. Did you click on file-> save as picture in MT4 platform ? Try again. Looking forwards to seeing your trade. If others can see the chart, please tell me.
Hi. My trade is still open. Already have +104 pips still about 100 hundred to go. Now I'm waiting for one more wave to happen before I get my profit and I think I will take this trade one more time in the next wave just with a smaller stoploss. If wave doesn't happen, I'm just going to wait for my profit.

Here is another picture if the wave happens.
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  • #20,386
  • Jul 21, 2009 1:01am Jul 21, 2009 1:01am
speaking of CT I just made one on EU. ENTRY- 8EMA TP - 21EMA and above 23.6 fib SL - recent high and also in that area we have a weekly RL, just jump to weekly chart and see. I regret that I did't take the TC setup that was yesterday but I waited to see the market rhythm first, after wall it was long period of consolidation and often the first move after a ranging market is a fake one. Well I as wrong
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  • #20,387
  • Jul 21, 2009 1:43am Jul 21, 2009 1:43am
Hello Everyone,

I entered on a short on the USD/JPY earlier today. I did not get a chance to post until now.
This trade was entered due to the Daily price action.

Reasons for the trade:
1)Daily time frame produced a inverse hammer (nice long tail) off of the 200SMA and closed below the 21EMA. (blue dotted line on the daily chart)

2)I also looked at the 4H to confirm to see how price is behaving there and we had a round top on the MACD and price close below the 89SMA.

The main decision was made off of the candle closing below the 200sma on the Daily time frame.

Entry Price 94.248
SL = 94.8000
1st TP = 93.800
2nd TP = 93.200
3rd TP = 91.800

Edit:
My first target was hit for 48 pips, SL moved to BE.
Attached Image(s) (click to enlarge)
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Keeping Life Simple
  • #20,388
  • Jul 21, 2009 1:59am Jul 21, 2009 1:59am
Quoting xeneric
Thanks to all the people that posted. With everyone posting, I hope that it will be almost as good as when Phil was here.
Good day mate uhhh are is it bloke
What with Phil http://clicksmilies.com/s1106/fragen...smiley-009.gif
I just spent the last week reading and trying to understand his method…
  • #20,389
  • Jul 21, 2009 2:06am Jul 21, 2009 2:06am
Quoting time1300
Hello Everyone,

I entered on a short on the USD/JPY earlier today....

Well done for trading that. As I am still new to that system I didn't trade that couse got scared of the presence of 89SMA on 4h chart, and yesterday was a bank holiday in Japan so I just skip trading those bars which form during no trading days. Risk reward ration is very good for your trade but don't you think the 2nd and 3rd profit targets are too optimistic? I definitly would have taken everything on the 1st TP.
  • #20,390
  • Jul 21, 2009 2:13am Jul 21, 2009 2:13am
Hello Interpro,

Yes you are right, the targets are a little optimistic but usually on daily trades I like to hold the trade for 2 or 3 days but I am also watching this trade live and I have some mental targets as well and I take some off the table while watching it live. For example my nearest target is 93.600 which I will talk some off the table and let the others run. Usually if this was a trade I was going to keep only for a day, my targets would have been much narrower.

Hope this answers your question
Keeping Life Simple
  • #20,391
  • Jul 21, 2009 2:21am Jul 21, 2009 2:21am
I got out of EUR/JPY trade with + 100 pips because of a possible inverted hammer
  • #20,392
  • Jul 21, 2009 2:24am Jul 21, 2009 2:24am
guys yesterday we discussed money management. I made for myself a calculations and a graph that shows how much I can risk according to my success ratio. I made calculations for 10 000 trades which if you have 100 deals a year will give you the picture of 100 years trading. My personal target is 30% yearly income so according to my calculations I can achieve that with 55% success ration and 3% risk per trade with RR=1 and 100 trades a year, of course if you double the trades you will double the income, but as you will see from calculations, it is very important to trade only the high probability trades.
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  • #20,393
  • Jul 21, 2009 2:31am Jul 21, 2009 2:31am
time1300

I’m short too 93.98.
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  • #20,394
  • Jul 21, 2009 2:50am Jul 21, 2009 2:50am
Quoting SaepeExertus
time1300

I’m short too 93.98.
don't you think it is a little late for that deal? There is no any MACD setup on 4h.According to the rules of the system it is a CT deal, because the market is in the uptrend so far( frankly I also think it will continue to go down, but I will wait to 8&21 ema to cross and wait for a TC signal.) For the MACD system the proper deal was 3 bars ago entry at 8 ema , on VT setup, and TP at 21EMA.
  • #20,395
  • Jul 21, 2009 2:53am Jul 21, 2009 2:53am
Short GBPUSD now 1.65046

Was long 1.6398
Stopped out 1.652

My broker uses 5 places…
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  • #20,396
  • Jul 21, 2009 2:55am Jul 21, 2009 2:55am
Quoting intrerpro
don't you think it is a little late for that deal? There is no any MACD setup on 4h.According to the rules of the system it is a CT deal, because the market is in the uptrend so far( frankly I also think it will continue to go down, but I will wait to 8&21 ema to cross and wait for a TC signal.) For the MACD system the proper deal was 3 bars ago entry at 8 ema , on VT setup, and TP at 21EMA.
Yes it was… some times I foul up.
I'm working on wait
  • #20,397
  • Jul 21, 2009 3:14am Jul 21, 2009 3:14am
Short gbpcad 1.8279
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  • #20,398
  • Edited 9:56am Jul 21, 2009 3:15am | Edited 9:56am
Hey guys..

I shorted on GU 800 cadles on gmt+2

Entry 1.6500

closed first profit +65

set remainder break even ..

will continue until 200 sma ..

Edited .. Remainder stopped out at +65 pips..
shaggy
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  • #20,399
  • Jul 21, 2009 3:29am Jul 21, 2009 3:29am
Long eurjpy 133.609

I realize my long was early…
I just found this method last week. I still have a few bugs to work out.
But I like what I know about it.
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  • #20,400
  • Jul 21, 2009 5:30pm Jul 21, 2009 5:30pm
the reason for CT trade:
1.i think this is a false break .
2.a hammer+big bearish candle.
3.now the price retrace back to the half of the before candle.
4.if the price continue to go up,then i am wrong.
5.this time i hope the price will go to the channel's lower line.


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