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4 Hour Strategy (MACD)

  • #20,421
  • Jul 22, 2009 3:50am Jul 22, 2009 3:50am
Quoting nasir.khan
Closed the other half at 1.6316.
You got out at just the right time, Nasir. It seems that GU is bouncing off the 89 SMA on the 4 hr and going up again.
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  • #20,422
  • Jul 22, 2009 4:07am Jul 22, 2009 4:07am
yes am keeping an eye on the gbpusd
the ema levels happen to coincide with my support level
it is better to miss than to loss pips
  • #20,423
  • Jul 22, 2009 4:29am Jul 22, 2009 4:29am
Quoting 2pips
yes am keeping an eye on the gbpusd
the ema levels happen to coincide with my support level
Welcome 2pips. Nice that you can join us.
  • #20,424
  • Jul 22, 2009 6:25am Jul 22, 2009 6:25am
I have a question. If MACD gives a signal for a trade but there is no MA for profit, where do you set your profit?
  • #20,425
  • Jul 22, 2009 6:35am Jul 22, 2009 6:35am
Quoting Trader100
I have a question. If MACD gives a signal for a trade but there is no MA for profit, where do you set your profit?
Hi all.
The same question.
Should it be fibo or previous higher high or sth. else?
Nice trade opportunity on gbpusd (for now 40pips) so i don't want to blow it with wrong tp
  • #20,426
  • Jul 22, 2009 6:57am Jul 22, 2009 6:57am
Quoting Trader100
I have a question. If MACD gives a signal for a trade but there is no MA for profit, where do you set your profit?
Quote
Hi all.
The same question.
Should it be fibo or previous higher high or sth. else?
Nice trade opportunity on gbpusd (for now 40pips) so i don't want to blow it with wrong tp

Ok guy's did you read the pdf???????????
  • #20,427
  • Jul 22, 2009 7:02am Jul 22, 2009 7:02am
Exit levels are MA's, Fibbs, Trendlines, Price level's of *.*100. Of course you will find some thing to get out of the trade.
  • #20,428
  • Jul 22, 2009 7:06am Jul 22, 2009 7:06am
Quoting nasir.khan
Ok guy's did you read the pdf???????????
"Our first profit target will be around our fast moving averages (8EMA and 21EMA). Our second profit target will be around the slow moving averages(89SMA and365EMA).
Our third profit target will be at price level 1.2100 etc etc etc.
(...)Should there be a moving average or price level nearby and below your entry level you must take note that the price might go and test them. So your stoploss must be aware of that."

Ok. My bad. Need more confidence on what I'm doin

PS. Sorry for my English. It's not my first or even second language.
  • #20,429
  • Jul 22, 2009 7:09am Jul 22, 2009 7:09am
I'm in USD/JPY. For now + 15 pips. Profit 50 % fib level
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  • #20,430
  • Jul 22, 2009 7:41am Jul 22, 2009 7:41am
Quoting fjgren
"Our first profit target will be around our fast moving averages (8EMA and 21EMA). Our second profit target will be around the slow moving averages(89SMA and365EMA).
Our third profit target will be at price level 1.2100 etc etc etc.
(...)Should there be a moving average or price level nearby and below your entry level you must take note that the price might go and test them. So your stoploss must be aware of that."

Ok. My bad. Need more confidence on what I'm doin

PS. Sorry for my English. It's not my first or even second language....
The most important thing is to backtest and find out what is comfortable for you and the pair that you are trading. Some people prefer MAs, others prefer fibs and still others prefer round numbers or a combination of all. It also depends on the pair that you are trading. Some pairs move more than others. For this strategy, we don't use the 365 SMA as much as the 200 SMA.
  • #20,431
  • Jul 22, 2009 8:06am Jul 22, 2009 8:06am
Quoting xeneric
The most important thing is to backtest and find out what is comfortable for you and the pair that you are trading. (...)
Ok. Thanks.
Need to learn, need to learn... I like it
  • #20,432
  • Jul 22, 2009 8:18am Jul 22, 2009 8:18am
Quote
Our first profit target will be around our fast moving averages (8EMA and 21EMA). Our second profit target will be around the slow moving averages(89SMA and365EMA).
Our third profit target will be at price level 1.2100 etc etc etc.

Wrong profit target is whatever comes first in the way. If you take with the trend trades there would be no 8-21 EMA's and if a very storng trend no 89-200-365 either in your way so you will have be well aware of support/resistances levels,Fibbs and round numbers to make sure you dont turn from green to red.



Quote
(...)Should there be a moving average or price level nearby and below your entry level you must take note that the price might go and test them. So your stoploss must be aware of that.

Exactly



Quote
PS. Sorry for my English. It's not my first or even second language.

No problem but learn the language of TA.
  • #20,433
  • Jul 22, 2009 9:37am Jul 22, 2009 9:37am
Quoting Trader100
I'm in USD/JPY. For now + 15 pips. Profit 50 % fib level
I also took that trade, and my take profit was at 93.07 and it wasn't hit by just 0.3 pips (less than a 1 pip!) by the last bar. I wasn't in front of the pc to close the deal and when I came back and saw what happened and I reposition my TP at 93.11.
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  • #20,434
  • Jul 22, 2009 10:10am Jul 22, 2009 10:10am
am currently in gbpusd and am at +40pips profit
going to let it run for some time.
it is better to miss than to loss pips
  • #20,435
  • Jul 22, 2009 10:14am Jul 22, 2009 10:14am
2 pips me too. I am really liking this method. I am ready to go live. I hope Philip returns to the new commercial forum.
  • #20,436
  • Jul 22, 2009 10:21am Jul 22, 2009 10:21am
Quoting intrerpro
I also took that trade, and my take profit was at 93.07 and it wasn't hit by just 0.3 pips (less than a 1 pip!) by the last bar. I wasn't in front of the pc to close the deal and when I came back and saw what happened and I reposition my TP at 93.11.
That was a nice trade! I got 30 pips in this one.
  • #20,437
  • Jul 22, 2009 2:31pm Jul 22, 2009 2:31pm
Quoting Trader100
That was a nice trade! I got 30 pips in this one.
Yes everything was perfect ,but I got -(minus)50 pips. after my TP at 93.115 was NOT hit by less than 1 pip ,on the next bar my SL at 93.88 in 15:08 GMT was hit also at exact pip and after that the price went down... I don't know what to think ..seems impossible that. two trades before that aslo my trailing stop was hit at the exact pip...
  • #20,438
  • Jul 22, 2009 4:52pm Jul 22, 2009 4:52pm
Maybe I'm asking for too much ... but here we have some of the most kind people that I have seen in my life ... so I want to know if someone please could write Phillip's Mp3 File in .PDF or .DOC , for us who can't understand his english. All the files, it would be great, but the most important would help a lot.

Sorry but like someone had said before "English It's not my first or even second language".

Thank's Suba
  • #20,439
  • Jul 22, 2009 6:11pm Jul 22, 2009 6:11pm
Quoting ssq
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.


Attachment
after get 44pips,i go out the first 0.1slot,and set the other 0.1slot to BE.
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I WAS STOPPED OUT,so i get 22pips.
this is the CT trade ,thanks a lot to SAKA and TIME1300....................,for your comment....,i learn some new...
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  • #20,440
  • Jul 22, 2009 8:06pm Jul 22, 2009 8:06pm
Quoting 2pips
am currently in gbpusd and am at +40pips profit
going to let it run for some time.
gd work! so did u short or did u long and why did u took that tradE?
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