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4 Hour Strategy (MACD)

  • #21,841
  • Jan 19, 2010 8:40pm Jan 19, 2010 8:40pm
Quoting lukis
Hi,
time1300
Morelands
saka
Palmer
and Phillip

Thanks for posting I did some wrong trades and I moved back to learn more. Nice to hear from you and see your trades to learn to observe prices rythm. I do not have much time for trading comming month so I'll be just visiting.

Take care http://cdn.forexfactory.com/images/icons/icon6.gif
welcome back and learning is part of the game.
Keeping Life Simple
  • #21,842
  • Jan 20, 2010 5:57am Jan 20, 2010 5:57am
Can anyone give me some advice on mt4 problem I'm having?

...when I scroll backwards through history, mt4 pulls historical data from my demo broker. I'm sure most of you will know what I mean - if you press 'home' on your keyboard, it will take you back to the oldest chart data. You can then continue scrolling backwards to pull more data from your broker.
Haven't had this problem before, but when I close mt4 and re-open, I loose all that data that I've scrolled back through and pulled onto the charts. Means that each time I've got to go through the back scroll process again to get to a couple of years back where I've been backtesting.

Any help much appreciated...one of those annoying little things that eat up your time.

Cheers,
Ben
  • #21,843
  • Jan 20, 2010 6:52am Jan 20, 2010 6:52am
Did you try going to Tools -> Options -> Charts and set 'Max Bars in History' and 'Max Bars in Chart' to a higher number...?
  • #21,844
  • Jan 20, 2010 6:59am Jan 20, 2010 6:59am
Time: I pretty much leave the CT's on the sidelines. If you think about it, you're trying to pick tops and bottoms there. I think Phillip is concentrating his efforts on trend -re-entries as well since there is a higher probability there.

BenStevo: remember if you set your max bars in charts to 999999999999 then all those indicators have to be calculated for all of those charts you have open. This can cause MT4 to slow down as far as moving from chart to chart goes. I've just set up two demo MT4 folders to run separate demo EA's on along with the live folder. This keeps things a little cleaner...
  • #21,845
  • Jan 20, 2010 7:19am Jan 20, 2010 7:19am
Quoting kichigai
Did you try going to Tools -> Options -> Charts and set 'Max Bars in History' and 'Max Bars in Chart' to a higher number...?
Thanks Kichigai and Palmer,

Looks like thats done the trick. Time will tell I guess.
  • #21,846
  • Jan 20, 2010 8:57am Jan 20, 2010 8:57am
EU might be trying to fill the gap with the 8..lower timeframes showing some bullish divergence...
  • #21,847
  • Jan 20, 2010 9:35am Jan 20, 2010 9:35am
Quoting lukis
Hi,
time1300
Morelands
saka
Palmer
and Phillip

Thanks for posting I did some wrong trades and I moved back to learn more. Nice to hear from you and see your trades to learn to observe prices rythm. I do not have much time for trading comming month so I'll be just visiting.

Take care http://cdn.forexfactory.com/images/icons/icon6.gif
Hey Lukis, I am in the same boat as you! Need a couple of weeks of just watching and follow more experienced guys's signals and hints to heal my account's balance! It is important not to get frustrated by the wrong trades and take them as a personal failure, but as part of a growing process. Good luck, mate!!!
  • #21,848
  • Jan 20, 2010 11:30am Jan 20, 2010 11:30am
Quoting Palmer
EU might be trying to fill the gap with the 8..lower timeframes showing some bullish divergence...
Agree with you on that one. I have some nice support at 1.4090. Price is miles from the 8. Will be watching for a long opportunity (couple of dojis or small candles struggling at the level, engulfing etc).
  • #21,849
  • Jan 20, 2010 11:38am Jan 20, 2010 11:38am
Quoting Palmer
Time: I pretty much leave the CT's on the sidelines. If you think about it, you're trying to pick tops and bottoms there. I think Phillip is concentrating his efforts on trend -re-entries as well since there is a higher probability there.

BenStevo: remember if you set your max bars in charts to 999999999999 then all those indicators have to be calculated for all of those charts you have open. This can cause MT4 to slow down as far as moving from chart to chart goes. I've just set up two demo MT4 folders to run separate demo EA's on along with the...
Hey palmer,

Great to see you post again. ya I completely agree with you, I myself am not a big fan of the 8ema but when a big gap occurs such as what is happening now on the EUR I like to take my chances and do a CT up to the 8ema but always watch it very closely with very tight stop loss as I did with the last move. moved my stop loss to break even right away.

I always emphasize those that have not yet got the 4H rhythm down or as Phillip says "know it by heart", then do not trade any CT trades.

Another big gap has been created again here with price and 8ema on the Eur/USD, one I might look into entering.

cheers
Keeping Life Simple
  • #21,850
  • Jan 20, 2010 11:58am Jan 20, 2010 11:58am
Hello everyone.

First of all I would like to thank every single one of you for making this thread what it is. Especially Philip for sharing his thoughts. Ive been watching this thread silently since the beginning and Im really amazed how much I ve learned thanks to you guys. Thank you again.

Back to trading.
I took EU trade based on TC pattern around 1.4344. Extra confirmation gave me bear flag pattern. I have been waiting for the breakout and 4hr TC pattern.
Still in the trade.

Take care.

http://i47.tinypic.com/4t7rtg.gif
  • #21,851
  • Jan 20, 2010 12:30pm Jan 20, 2010 12:30pm
We are currently on a weekly Fib 38% retracement at around 1.4100. We might see some bounce off 1.4100 to around 1.4200
Attached Image (click to enlarge)
Click to Enlarge Name: 4H MACD.gif Size: 22 KB
  • #21,852
  • Jan 20, 2010 1:18pm Jan 20, 2010 1:18pm
Hi Phillip, thanks for the big picture view
I am curious: how the stocks may influence prices rythm?
Stock indexes may fall in Jan/Feb and can this strengthen USD against other currencies?
Cheers,
  • #21,853
  • Jan 20, 2010 5:09pm Jan 20, 2010 5:09pm
Hello to all here

thank you for all your work

I have looked yet can not find a MACD colored indicator that Alerts when the bar color changes, has it been coded ?

all help appreciated

  • #21,854
  • Jan 20, 2010 8:19pm Jan 20, 2010 8:19pm
Quoting Burton
Hello to all here

thank you for all your work

I have looked yet can not find a MACD colored indicator that Alerts when the bar color changes, has it been coded ?

all help appreciated

I think you are talking about the color MACD indicator that is green and red. You can find that at Palmer's site...fxtradeblog.com
  • #21,855
  • Jan 20, 2010 10:38pm Jan 20, 2010 10:38pm
Posting a live trade...hopefully I won't get nailed on this one
Entered on open of candle with white arrow based on:

Good distance to 8EMA; 3 small candles (to me, struggling to break a support level at 1.4091); MACD confirmation, tho I don't really use that too much.

E=1.4100
SL = 1.4030
TP1 = 1.4150; TP2 = 1.4190 (8/21 area)

Waiting time now...
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 31 KB
  • #21,856
  • Jan 21, 2010 12:59am Jan 21, 2010 12:59am
Quoting Palmer
Time: I pretty much leave the CT's on the sidelines. If you think about it, you're trying to pick tops and bottoms there. I think Phillip is concentrating his efforts on trend -re-entries as well since there is a higher probability there.

BenStevo: remember if you set your max bars in charts to 999999999999 then all those indicators have to be calculated for all of those charts you have open. This can cause MT4 to slow down as far as moving from chart to chart goes. I've just set up two demo MT4 folders to run separate demo EA's on along with...
i never the EA thing
  • #21,857
  • Jan 21, 2010 2:13am Jan 21, 2010 2:13am
In my early days with this great method, I was sitting many times on the sidelines when the big move occurred. My emotional state was shaken as I understood that I missed many pips , and of course I was looking how to get in. The obvious was the CT trade. I don't know why, but the CT trades are very easy to spot. It is very tempting to take it to the 8 or even 21. How many times I was burnt on this one! So many times that now I don't even have a thought to get in.
I don't say that CT's don't work, but many times you'll find yourself trapped in a consolidation or accumulation mode, when 8 will slowly come to the price. There really must be signs of movement to get involve in CT. But, it is much better wait for a TC. There is nothing worse than to be in a slow market.
  • #21,858
  • Jan 21, 2010 5:03am Jan 21, 2010 5:03am
Quoting BenStevo
Posting a live trade...hopefully I won't get nailed on this one
SL hit.
Definitely agree with you Ira on being wary on CT trades. For me, this was a high probability setup which works probably 80+% of time. No luck today tho!
  • #21,859
  • Jan 21, 2010 5:07am Jan 21, 2010 5:07am
Quoting BenStevo
SL hit.
Definitely agree with you Ira on being wary on CT trades. For me, this was a high probability setup which works probably 80+% of time. No luck today tho!
Yeh, this happens. Just forget and move on .
Ira
  • #21,860
  • Jan 21, 2010 8:27am Jan 21, 2010 8:27am
some great reversal candles are in the makings on many pairs such as EUR/USD, USD/CHF and USD/CAD. Some profit taking might be in the works today after strong few days of USD strength and the Unemployment claims report today.
Keeping Life Simple
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