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4 Hour Strategy (MACD)

  • #20,641
  • Edited 7:52pm Aug 9, 2009 7:30pm | Edited 7:52pm
Quoting fena74
I am doing back testing with 1 Hrs early entry if possible with the rules of 4Hrs system. Some times I have to put 60 pips SL. If I think that the setup is good and could produce R:R 1:1 is it better to skip the deal or to reduce on HALF my entry lot size as I could put average 30-40pips SL only according Money Manegment 2% from my total. What is better for long time run?
I have read all the info from this thread about putting SL for long candles but I do not saw such kind of doing big signal candles.
I know for fib retracement on signal candle...
Fena74, can you post some examples of what you mean. Do you mean that some candles on the 1 hr are so big that you are uncertain where to put the stop ? Some examples will help me understand better so that I can answer your question. Thanks.
  • #20,642
  • Aug 9, 2009 10:02pm Aug 9, 2009 10:02pm
Here is Phil's weekly anticipation for those who don't get it by email. If you want to get it by email, just go to his site and enter your email address.
  • #20,643
  • Aug 9, 2009 10:15pm Aug 9, 2009 10:15pm
This week we have the US FOMC statement and Fed funds rate decision on Wednesday.

We also have a lot of news releases out of China such as CPI, PPI, trade balance and industrial production. I don't know what effect this will have. All the releases from China are on Tuesday during the Asian session.
  • #20,644
  • Edited 8:05am Aug 10, 2009 12:11am | Edited 8:05am
Hi guys.. I have taken RB on EU

E-1.4205
1st PT 1.4237 by the 8ema and 89ema and TL
2nd PT 1.4280 by 21 ema

SL.1.4245 ( I put few pips down at 1.4240)

at 1st target hit then 2nd will be Set to BE.

It has formed same RB as Previous one...

i dont see any reason not to take this trade except it's CT.

your comments welcome..

edited: Got out at BE due to no movements for 6 hrs
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  • #20,645
  • Aug 10, 2009 1:58am Aug 10, 2009 1:58am
Hi all, Im having trouble with ffcal as soon as I load it my platform freezes im using interbanks platfoem and up until a week ago it was fine, any ideas or help would be much appreciated. Regards Peter.
  • #20,646
  • Aug 10, 2009 3:19am Aug 10, 2009 3:19am
  •  nerd
  • | Joined Jul 2008 | Status: Fate loves the fearless. | 48 Posts
Quoting gujjubond
Hi guys.. I have taken RB on EU

E-1.4205
1st PT 1.4237 by the 8ema and 89ema and TL
2nd PT 1.4280 by 21 ema

SL.1.4145 ( I put few pips down at 1.4240)

at 1st target hit then 2nd will be Set to BE.

It has formed same RB as Previous one...

i dont see any reason not to take this trade except it's CT.

your comments welcome..
I may correct here that his SL is 1.4145 n not 1.4245. The pattern is a good one. But there are a few things I'd like to point out. I hve been studying old posts from dis thread last week. Alot of them. What I learnt is that CT trades were used to be taken after a trend is exhausted. For instance, market has moved in a certain direction and then it is being resisted or supported strongly at a strong technical level. That wud give them a high probability.

In this case, I believe the trend has just began (as market EURUSD closed below the 89 SMA). So, what I'll be looking for is a slight retracement and then trend continuation in the coming hours.

That's just my perception of the markets. Hope your trade ends green.

Happy Tradin'
  • #20,647
  • Aug 10, 2009 3:41am Aug 10, 2009 3:41am
Morning Guys,

As you seen from the last video, I was short of the GBP before that short aggressive move down due to a number of things:

I ended up taking: +254 pips


I have explained all in a lengthy video which I advise you watch. Picking up these types of moves basically makes the difference in trading - it takes you from being an average run of the mill trader to one which is extremely successful & allows you to make some serious money trading.

If you have any questions (which you should have) please post them as it helps others learn.

Inserted Video


I also have a NFP EUR/USD trade which I will post later.

Cheers WG
  • #20,648
  • Aug 10, 2009 8:09am Aug 10, 2009 8:09am
Quoting gujjubond
Hi guys.. I have taken RB on EU

E-1.4205
1st PT 1.4237 by the 8ema and 89ema and TL
2nd PT 1.4280 by 21 ema

SL.1.4245 ( I put few pips down at 1.4240)

at 1st target hit then 2nd will be Set to BE.

It has formed same RB as Previous one...

i dont see any reason not to take this trade except it's CT.

your comments welcome..
thanks xeneric for comments

Got out at BE due to no movements for 6 hrs
  • #20,649
  • Aug 10, 2009 11:12am Aug 10, 2009 11:12am
Hi gujjubond,

I want to comment your trade here.I think that for CT to put so big SL 60 pips and first TP on 32pips and second on more than 40 + it is not a good idea. We have many times comment to be careful with CT and if it is hard for taken just to look for few pips and out.
There is strong support on about 1.4127 and very good resistance on 1.4219 according my trend lines.
We are in some kind of channel / see the picture/ so we could take CT only from the edges of the channel.
The news for the EUR early in the morning were not so important and a big strenght so even that they support the Eur, it was very little movement up for short time after they have issued.
As said Nerd we just may be began new start of the rhytm so after passing through 89SMA downside the price will move up but may be to the strong resistance trendline only/not 89sma or 21ema/-as it did.
That is my opinion for your trade.
All the best and many many succesfull pips.

Attached Image
  • #20,650
  • Aug 10, 2009 11:52am Aug 10, 2009 11:52am
Quoting fena74
I am doing back testing with 1 Hrs early entry if possible with the rules of 4Hrs system. Some times I have to put 60 pips SL. If I think that the setup is good and could produce R:R 1:1 is it better to skip the deal or to reduce on HALF my entry lot size as I could put average 30-40pips SL only according Money Manegment 2% from my total. What is better for long time run?
I have read all the info from this thread about putting SL for long candles but I do not saw such kind of doing big signal candles.
I know for fib retracement on signal candle...

Xeneric, here is the example you want to see about my question.
On 4Hrs TF it is pull back to the 21 Ema then retrace from it.I was looking for early entry on the 1Hr TF according the rules for that TC signal.After things on the 4Hrs are good I began to look at 1HR and there on the red vertical line I put my entry because according the rules for taking early TC signal from 1Hrs I have the conditions/ MACD on 1 HR support the TC signal and DI+ just crossed up DI- on the ADX/.
2 white vertical lines on 1HRs TF are from opening and the close of the 4Hrs candle.
The SL is too big: 65pips so :
My question was to take that trade with little SL-to put it on the last 1HR candle OR to reduce the entry lot on half OR to skip the trade.
Thank you in advance.

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  • #20,651
  • Aug 10, 2009 12:27pm Aug 10, 2009 12:27pm
Quoting fena74
Xeneric, here is the example you want to see about my question.
On 4Hrs TF it is pull back to the 21 Ema then retrace from it.I was looking for early entry on the 1Hr TF according the rules for that TC signal.After things on the 4Hrs are good I began to look at 1HR and there on the red vertical line I put my entry because according the rules for taking early TC signal from 1Hrs I have the conditions/ MACD on 1 HR support the TC signal and DI+ just crossed up DI- on the ADX/.
2 white vertical lines on 1HRs TF are from opening and the close of the...
1st of all why do you think 60 pip SL is big i think it's pretty good for a TC.
  • #20,652
  • Aug 10, 2009 12:37pm Aug 10, 2009 12:37pm
Quoting nasir.khan
1st of all why do you think 60 pip SL is big i think it's pretty good for a TC.
nasir.khan,
May be 60 pips are ok for most people for TC but I make my SL according my bank account/not more than 2% per trade/ and I can let average SL not more than 40-45pips.
  • #20,653
  • Aug 10, 2009 1:08pm Aug 10, 2009 1:08pm
Quoting fena74
nasir.khan,
May be 60 pips are ok for most people for TC but I make my SL according my bank account/not more than 2% per trade/ and I can let average SL not more than 40-45pips.


No fena i am sorry to say but you are wrong on this.

NEVER squeeze you SL breaking the rules cause if u had a SL of 60pips and you loose at least it won't heart your feeling's about you and you won't feel bad about your trading skills cause it's is part of the system and you can't avoid losses. BUT if you set SL to 40 pip's and price turns back after just kissing your SL:

1- On demo who cares BUT on a real trading account you won't sleep that night.

2- You would be angry at your self that you can't just stick to simple rules.

3- And the most dangerous thing (Revenge) you might try to catch the trade out of no where.

I am not telling you this because i red it somewhere it happened to me.

SO look if you have 1000$ in your account. 2% risk is 20$ now with aSL of 60pips you are allowed to BUY 3K lot. What's wrong with that?
  • #20,654
  • Aug 10, 2009 1:26pm Aug 10, 2009 1:26pm
Thank you nasir.khan for that answer. Sometimes every body needs such kind of advice and remainder frequently to stick to the rules. I am agree with you and I will rearrange my understanding for that. Thank you.
  • #20,655
  • Aug 10, 2009 1:32pm Aug 10, 2009 1:32pm
Look at these trades i took today i had a gain of 50 pips and i closed the trade at resistance level of 1.6574-63. I just have a 90$ account i can't trade more than 1K or 2K risking even 6%-7% at times and i have 10% gain on this trade so what's wrong nothing i guess.

But when it continued down breaking resistance and then the trend line i started feeling bad and started switching time frames to find an entry but you know i did some thing that i was not able to do before in 1 year of my trading i just closed the terminal and opened it after 1 hour and i am glad with myself. WE CANT CATCH EVERY PIP YOU KNOW.
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  • #20,656
  • Aug 10, 2009 1:43pm Aug 10, 2009 1:43pm
Quoting gujjubond
thanks xeneric for comments

Got out at BE due to no movements for 6 hrs
You saved yourself 60 pips.
  • #20,657
  • Aug 10, 2009 1:53pm Aug 10, 2009 1:53pm
So fellow's i am risking the 10$ i made today and going for the CT's in EU, GU, GJ and EJ. wish me luck.
  • #20,658
  • Aug 10, 2009 2:21pm Aug 10, 2009 2:21pm
  •  nerd
  • | Joined Jul 2008 | Status: Fate loves the fearless. | 48 Posts
Quoting nasir.khan
So fellow's i am risking the 10$ i made today and going for the CT's in EU, GU, GJ and EJ. wish me luck.
Boy, I guess u'r takin CTs on hourly...rito..?
  • #20,659
  • Aug 10, 2009 2:43pm Aug 10, 2009 2:43pm
Quoting nerd
Boy, I guess u'r takin CTs on hourly...rito..?
Sir Yes Sir,

All of these gave Round Bottom's on 1H except EU which seems like a Lower High also with various support level's of their own.

BUT if these pair's go right in my direction :

IN 4H

EU will form a RB or DB........................... hey it looks like an (_|_) also LOL.

GU will form a VT or RB you could say.

GY is not giving a very good sign but possibly a ZB

and EJ could go for a BOZ.


P.S but off course i am not looking for that far i will just get out at 8 EMA.
  • #20,660
  • Aug 10, 2009 2:46pm Aug 10, 2009 2:46pm
  •  nerd
  • | Joined Jul 2008 | Status: Fate loves the fearless. | 48 Posts
I took a EURUSD short today earlier in the european session, so i'd like to review dat trade wid u guyz n possibly hve some kinda feedback...

Wen market closed on Friday, I was pretty sure that we'll see a bearish candle on Monday (datz today) and the pair might move to 89 SMA on 4 hour (as per the rhythm rules), simply becoz the pair closed below the 21 in the daily chart. I believed dere might be a retracement in the intraday but at the same time i had a concern dat the retracement might not be big enuf to kiss the 21EMA. So, i switched to the hourly and abt an hour before the beginning of european session, dere a was TC, which I took (a lil retracement n a down move). Sort of an early entry. There was an hammer which indicated dat it wud be difficult for the pair to break the already established swing high.

Entry was @ 4187
SL @ 4186
TP 1 @ 4162 (a lil above the previous swing low on the hourly)
TP 2 @ 4137 (a lil above the 4 hour's 89 SMA)

Both TPs were hit n i averaged abt 37 pips (24 + 49 = 73/2 = 37 pips).
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