4 Hour Strategy (MACD) | Page 1120 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

4 hour strategy (the nausbot - 4 hour trader) 25 replies

4 Hour Strategy Macd+other Indicator 21 replies

X-1102 1 hour , 4 hour and daily Tf trades 7 replies

Create a verticle line at certain hour for every certain hour 16 replies

Is the "4 Hour Strategy (MACD)" the best system here at FF? 20 replies

Attachments: 4 Hour Strategy (MACD)
Exit Attachments

4 Hour Strategy (MACD)

  • #22,381
  • Apr 27, 2010 5:13am Apr 27, 2010 5:13am
hmm.....ok.....looks like we are not alone.....price zig zag into range. Not sure which direction to go. Now's it's going down again...

Should we just stop until FOMC ends?
  • #22,382
  • Apr 27, 2010 5:36am Apr 27, 2010 5:36am
Quoting AlwaysLearn
Seems like EU broke through the 8MA and 21MA support lines. I should have left my trade from yesterday open. Might still be able to hit the t/p. But then I let my emotions take control and closed the trade. Too many things to learn, too little time. Now, it looks like a double top in the EU 4hr chart. Is it time to short it at 1.3347? Sl can be set at 1.3358, t/p at near previous low, 1.3222. R:R ratio more than 1. Only issue is that MACD too near the 0, which may signal rebound.

Comments please?
Dear
I think you made a good desicion for entry at 1.3347. MACD made a RB pattern (of course it's little, level 15). But 11 pips is very little,isn't it?
  • #22,383
  • Edited 6:14am Apr 27, 2010 5:41am | Edited 6:14am
Quoting Morelands
I'm out of my EUR/USD trade. I'm not on a good streak lately.
Raymond
Same here. I have learnt a good lesson today. It was not a high probability trade because it was countertrend (which we knew already) and most importantly it was a high volatility and therefore a high risk day. I still think it would have had a better chance on another day. I am planning to stay out until after FOMC. Bernanke's testifying is also very important today.
  • #22,384
  • Apr 27, 2010 7:30am Apr 27, 2010 7:30am
Quoting khashaYaR
Dear

I think you made a good desicion for entry at 1.3347. MACD made a RB pattern (of course it's little, level 15). But 11 pips is very little,isn't it?
I should have set the sl higher. Should have expected a tail to go above the 8MA line. Also, I should have stuck to my trading plan for my yesterday's trade. Then I would have hit the tp just now for the EJ pair. Lesson learnt was not to let my emotions affect my trades.
  • #22,385
  • Apr 27, 2010 10:51am Apr 27, 2010 10:51am
Quoting xeneric
Hi Yuan,

How are you ? I think euro is in the process of forming a triple bottom. It is usually a volatile time as it goes up and down. GBP has hit resistance again(orange line) and is indecisive. I haven't been trading the GBP lately. Nice to see you again.

oops i just saw u talk to me in this post. heee. ok all drop ha...nice to see u too. hope u doing fine. yea a triple btm is here. or will it be a drop to 1.3000 for EU which some predicted? only time will tell i suppose.. looks like 1.3000 + 76 fib is a gd place to find support.the greece issue cant be solved that fast prob. ok sry shdnt be talking abt fundamentals here. haha
  • #22,386
  • Apr 27, 2010 7:14pm Apr 27, 2010 7:14pm
I've lost 3 trades in a row, not very good. 2 or the 3 were bad analysis/bad trades in my opinion. (The 3rd was a correct analysis, but my stop was too close.) Yesterdays trade I was comparing to the one WG took around March 31. I have included that in the 1st picture. The important part to not is that price had room to go up to the previous high. The second chart is my trade yesterday. Basically, I was late to the trade, price had already reached the previous high and was now approaching resistance (see the ellipse). What was similar was the support on the 23% retracement.
I'm not sure how helpful my posts have been lately. When I feel like I can be more helpful I'll post. I'm definitely continuing to trade, I'll never give up. I'm just not sure how helpful I have been
Attached Image(s) (click to enlarge)
Click to Enlarge Name: wg trade.gif Size: 43 KB
Click to Enlarge Name: 42610-loss.gif Size: 42 KB
  • #22,387
  • Edited 7:41pm Apr 27, 2010 7:30pm | Edited 7:41pm
Now it looks like Round Bottom forming on the 4hr EU chart with a doji for the previous candle. Have to see how this candle closes.

Edit: I believe this will not be a Round Bottom but a TC signal on the MACD. Still, have to wait for this candle to close to confirm.
  • #22,388
  • Apr 27, 2010 7:47pm Apr 27, 2010 7:47pm
Quoting AlwaysLearn
Now it looks like Round Bottom forming on the 4hr EU chart with a doji for the previous candle. Have to see how this candle closes.

Edit: I believe this will not be a Round Bottom but a TC signal on the MACD. Still, have to wait for this candle to close to confirm.
probably is, but this will be a counter trend trade.
  • #22,389
  • Apr 27, 2010 7:50pm Apr 27, 2010 7:50pm
Quoting Morelands
I've lost 3 trades in a row, not very good. 2 or the 3 were bad analysis/bad trades in my opinion. (The 3rd was a correct analysis, but my stop was too close.) Yesterdays trade I was comparing to the one WG took around March 31. I have included that in the 1st picture. The important part to not is that price had room to go up to the previous high. The second chart is my trade yesterday. Basically, I was late to the trade, price had already reached the previous high and was now approaching resistance (see the ellipse). What was similar was the support...

hi morelands,
saw ur posts since early early on in this thread. i saw ur big winners too. guess losing is just part of the game. accept learn n live to fight another day! i know of a futures trader who lost his account in 1 day after trading full time for 8 years. yup it just need a moment of wrong to wipe things out. but well he is still alive now, yea so just fight on.
  • #22,390
  • Apr 27, 2010 9:17pm Apr 27, 2010 9:17pm
Morning Doji Star pattern appearing on the EU 4hr chart. Long signal shown on MACD. Shall wait for candle to close before putting trade. Comments?
  • #22,391
  • Edited Apr 28, 2010 1:30am Apr 27, 2010 9:46pm | Edited Apr 28, 2010 1:30am
Quoting yuan83
hi morelands,
saw ur posts since early early on in this thread. i saw ur big winners too. guess losing is just part of the game. accept learn n live to fight another day! i know of a futures trader who lost his account in 1 day after trading full time for 8 years. yup it just need a moment of wrong to wipe things out. but well he is still alive now, yea so just fight on.
Hi Raymond

That's why my favourite book is "Trading in the Zone" by Mark Douglas. Although we attempt to, we can't predict the market. If we have another September 11 2001 tomorrow then the market will fall again. All the financial computers will be programmed to sell like crazy. At the end of the day, we just have to take as many high probability trades as we can and keep our risks very low.

It is hard for some of us to accept (I am talking about me) that we are going to be wrong quite a lot of the time, and the rest of the time, movements in the market are beyond our control.

It was not just the Greece issue that caused the EU fall. The stockmarkets made a big correction yesterday which is always risk averse. Also, the big banks are positioning for FOMC. They are getting ready for the announcement and if they think that interest rates will go up , they will buy the USD.
  • #22,392
  • Apr 27, 2010 10:24pm Apr 27, 2010 10:24pm
Quoting AlwaysLearn
Morning Doji Star pattern appearing on the EU 4hr chart. Long signal shown on MACD. Shall wait for candle to close before putting trade. Comments?
Do you mean a bullish harami? I'm not sure the MACD can be classified as a HL scenario. If it is not, I think the trend is still down. Maybe a short long trade to fibo 38% where 8MA is? But the movement now is quite flat and end of the next 4 hour is still far. Maybe check the candle again 15 mins before the end of this candle and look at 1 hr for TC signals.

Hope to hear from the more senior members here on the analysis. I was wrong in my previous post to wait for pullback to go long to 89MA.
  • #22,393
  • Apr 27, 2010 11:24pm Apr 27, 2010 11:24pm
Quoting wuming79
Do you mean a bullish harami? I'm not sure the MACD can be classified as a HL scenario. If it is not, I think the trend is still down. Maybe a short long trade to fibo 38% where 8MA is? But the movement now is quite flat and end of the next 4 hour is still far. Maybe check the candle again 15 mins before the end of this candle and look at 1 hr for TC signals.

Hope to hear from the more senior members here on the analysis. I was wrong in my previous post to wait for pullback to go long to 89MA.
Did not trade as the pullback wasn't strong enough yet as the bullish engulfing pattern did not form. It may be just a small retracement. Shall wait furthur and observe.
  • #22,394
  • Apr 28, 2010 12:04am Apr 28, 2010 12:04am
Quoting xeneric
Hi Raymond

That's why my favourite book is "Trading in the Zone" by Mark Douglas. Although we attempt to, we can't predict the market. If we have another September 11 2001 tomorrow then the market will fall again. All the financial computers will be programmed to sell like crazy. At the end of the day, we just have to take as many high probability trades as we can and keep our risks very low.

It is hard for some of us to accept (I am talking about me) that we are going to be wrong quite a lot of the time, and the rest of the time, movements...
haha i guess i m like u.. somehow it's difficult to stomach being wrong, or maybe for me, it's abt the money? prob that's what is wrong with ppl especially smart ppl, ego too big they dun like to admit to mistakes. prob tt's why sometimes being smart is not too good in trading huh. haha
  • #22,395
  • Apr 28, 2010 1:06am Apr 28, 2010 1:06am
Quoting Morelands
I've lost 3 trades in a row, not very good. 2 or the 3 were bad analysis/bad trades in my opinion.
Raymond, you have been doing very great! I hate losses myself, although I understand that it's a part of the business, they still influence me. But, 3 losses is nothing, I once had 15 in a row (but not with Phil's system))). With this system I had 5 in a row, but still ended the month in a profit.

We all humans, and make mistakes. Don't be to strict to yourself, I usually am, and know how it hurts. Forgive yourself and move on.

April was difficult in terms of trading for many people, for me, and I also read a lot of blogs of traders and many of the are down this month. Remember the gap, which we seldom have on the daily on forex, the market wasn't trending, it wasn't ranging. Actually now it clearly shows that people just didn't know what to do. The loan for Greece is good, but how will it use it? Then the volcano, then Bernanke. Hopefully we will se some nice trend in May, oh I miss the trend!!!

You posted your analysis and got married to this position , that's why it influenced you so much. But I see nothing wrong with your analysis, so keep posting and keep up the good work. Remember we are here not to be right or wrong, we are here to take chances and win in the long run!
  • #22,396
  • Apr 28, 2010 1:24am Apr 28, 2010 1:24am
Congrats Ira on your YM trade. Saw it on your blog but since I don't write Russian, I am congratulating you here.
  • #22,397
  • Apr 28, 2010 1:27am Apr 28, 2010 1:27am
Quoting yuan83
haha i guess i m like u.. somehow it's difficult to stomach being wrong, or maybe for me, it's abt the money? prob that's what is wrong with ppl especially smart ppl, ego too big they dun like to admit to mistakes. prob tt's why sometimes being smart is not too good in trading huh. haha
Yes, very true and it is even worse now that I am getting old.
  • #22,398
  • Apr 28, 2010 2:14am Apr 28, 2010 2:14am
I have a bad month for April especially this week. I think my loss is about 450 pips and I also had 4 lousy trades in a row. Luckily, I am still trading using mini lots, so the losses are still bearable. However, my confidence level has been very badly hit and I am starting to feel if I am suitable for trading. My ultimate goal is to become a full time trader but looking at my result, it doesn’t seem possible. I guess part of the reason is because my trading experience in Phillip system is not mature yet. Another big enemy of mine is emotion, patience and disciplines. When can I conquer these enemies???
  • #22,399
  • Apr 28, 2010 2:20am Apr 28, 2010 2:20am
Quoting silverfox88
[color=black][font=Verdana]I have a bad month for April especially this week. I think my loss is about 450 pips and I also had 4 lousy trades in a row. Luckily, I am still trading using mini lots, so the losses are still bearable. However, my confidence level has been very badly hit and I am starting to feel if I am suitable for trading. My ultimate goal is to become a full time trader but looking at my result, it doesn’t seem possible. I guess part of the reason is because my trading experience in Phillip system is not mature yet. Another...
Hi. I am still new at this and have not even started live trading. But then, I forgot where I read this from, if you hit a bad streak, stop trading and analyse the bad trades and find out the mistakes and see if it was the previous bad trades forcing you to commit into the other bad trade. As Phillip Nel have said earlier, do not force a trade but let it come. Hope I helped.

Edit: Just saw your profile and noticed that both of us are in the tiny dot called Singapore.
  • #22,400
  • Apr 28, 2010 2:47am Apr 28, 2010 2:47am
Quoting AlwaysLearn
Hi. I am still new at this and have not even started live trading. But then, I forgot where I read this from, if you hit a bad streak, stop trading and analyse the bad trades and find out the mistakes and see if it was the previous bad trades forcing you to commit into the other bad trade. As Phillip Nel have said earlier, do not force a trade but let it come. Hope I helped.

Edit: Just saw your profile and noticed that both of us are in the tiny dot called Singapore.
eh omg. i am from SG too!!! hahaahaha
3 traders viewing now