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4 Hour Strategy (MACD)

  • #22,741
  • May 18, 2010 10:15am May 18, 2010 10:15am
might go short on eu and gu if current candle closes below 8sma on both pairs in about 2h
  • #22,742
  • May 18, 2010 10:29am May 18, 2010 10:29am
Quoting AlwaysLearn
It's near City Hall. PM me if you want more information on the EA. But then the EA is now - 936 pips on the smallest buy trade and -348 pips on the largest buy trade which is 5 times the lot size for the first buy trade, meaning there are 3 other buy trades in the middle which is also losing pips. There is also 2 sell trades but not enough to cover the losing trades.

But luckily, the above is not happening on my account as I manually closed the trades before the drawdown got so big. But still got burned.
wah e same EA which i ask u abt? i tot u were up 20% or sth?
  • #22,743
  • Edited May 19, 2010 1:51am May 18, 2010 12:14pm | Edited May 19, 2010 1:51am
went short on eu and gu
setups are simmilar on both, price bounced off 21ema and candle closed below 8ema. sl is previous high.
I'm applying a 1:2 rr for now since I expect both trades to last for a while, but I will reduce sl and take profit according to future market movements
eu short @1,2331 sl 120 pips
gu short @1,4431 sl 100 pips

edit:
eu reached +60 sl reduced to -60pips
gu reached +50 sl reduced to -50pips

edit:
eu has reached 1,2440 which is almost last weeks low. sl set to be
gu has reached +100, sl set to be

I'll leave the trades like this over gmt night, curious if the trend will continue tomorrow

edit:
just checking before bedtime,
gu has reached 1,5r level = +100 pips. sl set to 1r = +100 pips
eu may reach 1,5r soon, but I won't wait for that to happen. sl remains at be. good night

edit:
gu missed tp for 6 pips over night and retraced
eu has reached 1,5r and retraced
accordingto the level gu had reached,the trade would have been stopped out at 1,5r
according to the level eu had reached, it would have been stopped out at 1r
but both trades are still open hoping for them to contiinue short

edit:
gu trade got stopped out at 1r = +100 pips
eu sl set to 1r

edit:
eu sl hit at 1r = 120 pips
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu 4h 18.5.10.gif Size: 12 KB
Click to Enlarge Name: gu 4h 18.5.10.gif Size: 12 KB
  • #22,744
  • May 18, 2010 12:26pm May 18, 2010 12:26pm
Quoting ashes
went short on eu and gu
setups are simmilar on both, price bounced off 21ema and candle closed below 8ema. sl is previous high.
I'm applying a 1:2 rr for now since I expect both trades to last for a while, but I will reduce sl and take profit tp according to future market movements
eu short @1,2331 sl 120 pips
gu short @1,4431 sl 100 pips
Your time zone gave a better signal then mine. Probably I should go down on 1H/15m tf, but I often get wrong trades when I do.

cheers,
andy
  • #22,745
  • May 18, 2010 12:57pm May 18, 2010 12:57pm
Quoting andy1969
Your time zone gave a better signal then mine. Probably I should go down on 1H/15m tf, but I often get wrong trades when I do.

cheers,
andy
you can get a mt4 demoplatform on gmt+2 at fxpro, for example
  • #22,746
  • May 18, 2010 7:23pm May 18, 2010 7:23pm
Quoting yuan83
wah e same EA which i ask u abt? i tot u were up 20% or sth?
It went up to 50%. But now I only left 20% cause I closed the losing trades manually. My friend is now 70% floating loss.
  • #22,747
  • May 18, 2010 7:50pm May 18, 2010 7:50pm
Quoting AlwaysLearn
It went up to 50%. But now I only left 20% cause I closed the losing trades manually. My friend is now 70% floating loss.
AlwaysLearn, are you using the full version or the Basic version from ScoreBot? Is EA really workable?
  • #22,748
  • May 18, 2010 8:09pm May 18, 2010 8:09pm
Quoting wuming79
AlwaysLearn, are you using the full version or the Basic version from ScoreBot? Is EA really workable?
I am not using Scorebot. The name is Pipmaker under HFR Holdings. To avoid off topic, PM me for details on EA instead of posting.
  • #22,749
  • May 18, 2010 9:15pm May 18, 2010 9:15pm
Quoting ashes
you can get a mt4 demoplatform on gmt+2 at fxpro, for example
I use both IBFX and Mig platforms and check charts every 2 hours. The combo gave good result.
  • #22,750
  • May 19, 2010 1:13am May 19, 2010 1:13am
Quoting March2011
I use both IBFX and Mig platforms and check charts every 2 hours. The combo gave good result.
that's a good idea, I'm doing the same but most of my entries happen to be on gmt+2.
  • #22,751
  • May 19, 2010 2:49am May 19, 2010 2:49am
Quoting AlwaysLearn
I am not using Scorebot. The name is Pipmaker under HFR Holdings. To avoid off topic, PM me for details on EA instead of posting.

i can't seem to pm u. u turned it off? anw u know of any person who code EA free or cheaply?
  • #22,752
  • May 19, 2010 4:57am May 19, 2010 4:57am
Quoting ashes
you can get a mt4 demoplatform on gmt+2 at fxpro, for example
Yes could be an idea... but, if I understand what you mean, I should have 3 demo account shifted 1 hour each other to cover all possible 4h signals... mmmhh... it sounds crazy, but I think I'll try.... :-)

edit:
March2011: so it gives good results to you. Ok, I'm gmt+1 and I'll try to take a look at gmt+2 too.

thx,
Andy
  • #22,753
  • May 19, 2010 7:22am May 19, 2010 7:22am
Retracement to 21MA. Is the Euro going to rebound or only retracement? News has it that they have banned short selling of Euro bonds. How is it going to affect the price?
  • #22,754
  • May 19, 2010 7:26am May 19, 2010 7:26am
Quoting ince07
just to check with you guys, i have had much more time trading now, would like to know if anyone has been trading this system using smaller timeframes, like 5 min 15 min chts?

sorry for troubling you guys, i have been trading the 4 hr mtd for sometime now and was thinking of using the lower time frames to trade using the 4hr cht for direction. using the same rules and mkt rythm to trade of the 5 min cht, but taking only the TC patters off the MACD.

What do you guys think? Is anyone using it?

Thanks in advance
  • #22,755
  • May 19, 2010 10:12am May 19, 2010 10:12am
Wassup everyone...!!!!!!!!

Long time no see....who want to kick my ass now?

4h-1h-15m is always the best TF for me...

Cheers...
  • #22,756
  • May 19, 2010 11:53am May 19, 2010 11:53am
Hello Everybody
I hope You had good weeks as me.
I was busy at university, and of course in forex.
sorry for no post.
I have a question about MACD, from Philip or other friends;
Hello Philip
I had followed the trend these two weeks, as You said in Your docs.
And I gained lots of pips, really huge, more than 2000 pips in 3 pairs.
I have to thank You, bcz all I know came from You.
oooh, my Question?!
As You see in EU 4H MACD, there seemed to be a TC pattern and the MAs are in good positions.
It's good for sell, but the price comes up and the MACD is going to make RB pattern.
Should I close my position or let hit the sl?
Thank You too much

khashaYaR
Attached Image (click to enlarge)
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  • #22,757
  • May 19, 2010 12:31pm May 19, 2010 12:31pm
I have a question for anyone who wish to answer it and how they approach it.

In a period where price is riding the 8ema on a Daily and price is in a very strong trend riding the 8ema also on the 4H without retracing back to the 21ema as per our rules, How do we analyze our entry when the signals are coming off of the 8ema where there could be a chance of a false move. This happens when the fundamentals are on the side of the trend as well as we have seen with the euro and the pound in the last few weeks. It does not happen often but those are when you make your money and how do we know if the trend is like the one we are having one or one that will retrace before continuing in the direction. Is it a good idea to take a continuation signal from the 8ema when that signal also creates a gap? This past few weeks, that's how the price has moved, off of the 8ema. and the CT signal has been off of the 8ema.....................
Keeping Life Simple
  • #22,758
  • May 19, 2010 12:34pm May 19, 2010 12:34pm
Quoting khashaYaR
Hello Everybody
I hope You had good weeks as me.
I was busy at university, and of course in forex.
sorry for no post.
I have a question about MACD, from Philip or other friends;
Hello Philip
I had followed the trend these two weeks, as You said in Your docs.
And I gained lots of pips, really huge, more than 2000 pips in 3 pairs.
I have to thank You, bcz all I know came from You.
oooh, my Question?!
As You see in EU 4H MACD, there seemed to be a TC pattern and the MAs are in good positions.
It's good for sell, but the price comes up and the MACD...
hi Khashayar,
my advice would be to always hounour your sl. once you planned your trade you've had a reason why you placed it there.
according to your trade, I'd suggest you focus more on market rhythm than on macd signals. I've been short on eu too but entered one candle earlier. http://www.forexfactory.com/showpost...ostcount=22743
I'm not sure if I would have entered short with the close of the large candle, since the price has been quite far away from 21/8ema by then.
Regards
  • #22,759
  • May 19, 2010 12:55pm May 19, 2010 12:55pm
Quoting time1300
I have a question for anyone who wish to answer it and how they approach it....
good point, entries off the 8ema seem to involve more risk, but if the market ist trending well they generate profits. I prefere the price to retrace to 21ema, not neccessarily to touch it, and then close below the 8ema, for an entry. I've attatched an eu chart of last weeks trend. the green arrows are my entries, the yellow arrows entries off the 8ema. The entries off the 8ema seem all to be confirmed by the macd, while one of my entries wasn't. But as already mentioned in a previous post, market rhythm is more important than macd signals. I guess what it boils down to is good moneymanagement, good risk reward ratio, good trade management.
Regards
Attached Image
  • #22,760
  • May 19, 2010 1:50pm May 19, 2010 1:50pm
Quoting ashes
good point, entries off the 8ema seem to involve more risk, but if the market ist trending well they generate profits. I prefere the price to retrace to 21ema, not neccessarily to touch it, and then close below the 8ema, for an entry. I've attatched an eu chart of last weeks trend. the green arrows are my entries, the yellow arrows entries off the 8ema. The entries off the 8ema seem all to be confirmed by the macd, while one of my entries wasn't. But as already mentioned in a previous post, market rhythm is more important than macd signals. I guess...
thanks ashes, really helpful
now I see what you mean market rythm
how you confirm entry point?
do you switch to minor timeframes when entering? or you just follow H4 candles
thx
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