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4 Hour Strategy (MACD)

  • #23,881
  • Jan 17, 2011 10:34am Jan 17, 2011 10:34am
Went right to the 21, just as I expected.
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"speak softly, and carry a big stick" Teddy Roosevelt
  • #23,882
  • Jan 17, 2011 11:45am Jan 17, 2011 11:45am
Quoting pipstert2
Went right to the 21, just as I expected.
great ct trade. congrats
  • #23,883
  • Jan 18, 2011 3:14am Jan 18, 2011 3:14am
what a nice entry this would have been ... but outside my trading hours ...
trading just one pair requires a lot of patience, I've just had two trades this month so far.
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  • #23,884
  • Jan 18, 2011 3:35am Jan 18, 2011 3:35am
Quoting ashes
what a nice entry this would have been ... but outside my trading hours ...
trading just one pair requires a lot of patience, I've just had two trades this month so far.
Well, someone once on this forum said: It is better to miss a good trade, then be in a bad one.
There will be plenty on opportunity in the days to come.
  • #23,885
  • Jan 18, 2011 4:44am Jan 18, 2011 4:44am
Quoting ashes
what a nice entry this would have been ... but outside my trading hours ...
trading just one pair requires a lot of patience, I've just had two trades this month so far.
Same thing to me ashes... I just got 2 trades this month, 1 were a losing trade and the other one is a winning trade made me end up in BE this month. I also missed EU. Not really missed actually as I watched TC being formed in my platform which is GMT+1, but the problem is SL is already huge almost 100 pips, so I gave it a miss. I see that GMT+2 platform that you're using (FxPro) gave a nice TC pattern. Sometimes I just think, that wouldn't be nice if we can open 2 platforms with different GMT setting so that we don't miss the chance. Question is: Wonder if this will make things seems to be complicated? What do you think, guys?
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  • #23,886
  • Jan 18, 2011 6:02am Jan 18, 2011 6:02am
Quoting hammerhead
Same thing to me ashes... I just got 2 trades this month, 1 were a losing trade and the other one is a winning trade made me end up in BE this month. I also missed EU. Not really missed actually as I watched TC being formed in my platform which is GMT+1, but the problem is SL is already huge almost 100 pips, so I gave it a miss. I see that GMT+2 platform that you're using (FxPro) gave a nice TC pattern. Sometimes I just think, that wouldn't be nice if we can open 2 platforms with different GMT setting so that we don't miss the chance. Question is:...
It will be complicated for sure. Just use 1 platform & stick with the trading method is the best.
  • #23,887
  • Jan 18, 2011 7:01am Jan 18, 2011 7:01am
Quoting ashes
what a nice entry this would have been ... but outside my trading hours ...
trading just one pair requires a lot of patience, I've just had two trades this month so far.
Hi, could you share with me the 2 trades you made this month. date, time, price, entry and exits? Since Hammerhead and you did 2 trades, I guess you style should be very close to how Philip is using it? I tend to overtrade with the 4hrMACD system...with just EURUSD..
  • #23,888
  • Jan 18, 2011 12:19pm Jan 18, 2011 12:19pm
Quoting hammerhead
Same thing to me ashes... I just got 2 trades this month, 1 were a losing trade and the other one is a winning trade made me end up in BE this month. I also missed EU. Not really missed actually as I watched TC being formed in my platform which is GMT+1, but the problem is SL is already huge almost 100 pips, so I gave it a miss. I see that GMT+2 platform that you're using (FxPro) gave a nice TC pattern. Sometimes I just think, that wouldn't be nice if we can open 2 platforms with different GMT setting so that we don't miss the chance. Question is:...
definitely a way of capital preservation

I have been using multiple platforms, three of them, and it went well. Instead of checking the charts every four hours, I had to check them almost every hour. But I can't say that although having more trades I had been more profitable. Bottom line to me is, keeping peace of mind and trading off one platform. I have found gmt+2 works best for me.
  • #23,889
  • Jan 18, 2011 12:23pm Jan 18, 2011 12:23pm
Quoting wuming79
Hi, could you share with me the 2 trades you made this month. date, time, price, entry and exits? Since Hammerhead and you did 2 trades, I guess you style should be very close to how Philip is using it? I tend to overtrade with the 4hrMACD system...with just EURUSD..
this was a be http://www.forexfactory.com/showpost...ostcount=23783

this was a 1,5r profit http://www.forexfactory.com/showpost...ostcount=23798
  • #23,890
  • Jan 18, 2011 9:05pm Jan 18, 2011 9:05pm
Long Eur/usd at 1.3438, tp at 1.3565 and sl at 1.3363 Will post chart tomorrow. Sorry I have not been around
Raymond
  • #23,891
  • Jan 19, 2011 7:28am Jan 19, 2011 7:28am
Hello eveyone,

First post here. Seems to be a great thread. Thanks to eveyone contributing.
Just a quick question. The reading list at first page. Should it be followed with that order or is there any other more efficient way to do the reading?

Best
C80
  • #23,892
  • Jan 19, 2011 11:35am Jan 19, 2011 11:35am
Quoting Crane80
Hello eveyone,

First post here. Seems to be a great thread. Thanks to eveyone contributing.
Just a quick question. The reading list at first page. Should it be followed with that order or is there any other more efficient way to do the reading?

Best
C80
I would read the 13 lessons first, then when you've gotten that down, skim through the rest, and read the first 100 pages of the thread.

Pipster
"speak softly, and carry a big stick" Teddy Roosevelt
  • #23,893
  • Jan 19, 2011 11:39am Jan 19, 2011 11:39am
welcome Crane,

I suggest downloading the 13 lessons from Palmer's site
http://www.fxtradeblog.com/method.html
  • #23,894
  • Jan 19, 2011 11:40am Jan 19, 2011 11:40am
Quoting pipstert2
I would read the 13 lessons first, then when you've gotten that down, skim through the rest, and read the first 100 pages of the thread.

Pipster
you were faster, Pipster
  • #23,895
  • Jan 19, 2011 11:47am Jan 19, 2011 11:47am
Quoting Morelands
Long Eur/usd at 1.3438, tp at 1.3565 and sl at 1.3363 Will post chart tomorrow. Sorry I have not been around
Raymond
nice trade, Raymond. have not taken it since it was entry right underneath resistance. congrats
  • #23,896
  • Jan 19, 2011 1:18pm Jan 19, 2011 1:18pm
Quoting ashes
welcome Crane,

I suggest downloading the 13 lessons from Palmer's site
http://www.fxtradeblog.com/method.html
Thanks a lot guys.
  • #23,897
  • Jan 19, 2011 6:26pm Jan 19, 2011 6:26pm
Here is the trade I took yesterday and closed today. It did not reach my tp, but I was watching price action around the purple fib and closed and closed around 3506. The purple fib is from the huge move down we had last year from Nov '09 to May '10. My entry was a retest of the break out level and it was a tc as indicated the arrows. Ashes, I did not see it as you did, but thanks for the congrats. IMO it was above the resistance.
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  • #23,898
  • Jan 19, 2011 6:36pm Jan 19, 2011 6:36pm
Looking for a possible trade in the future, a head and shoulder pattern. I will wait and see if tomorrows daily action produce a bearish candle forming a evening star pattern at the 38% fib level in yellow( 50% in purple). If that is formed I will look for a some sort of consolidation or a TC pattern to go short.
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  • #23,899
  • Jan 19, 2011 7:09pm Jan 19, 2011 7:09pm
Looks like EurUsd is going to test the Ressistance line it pasted earlier.
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"speak softly, and carry a big stick" Teddy Roosevelt
  • #23,900
  • Jan 19, 2011 11:17pm Jan 19, 2011 11:17pm
Quoting pipstert2
Looks like EurUsd is going to test the Ressistance line it pasted earlier.
It now becomes support. Like Phillip said in his weekly review, this is the same as he anticipated. The probablity for TC upside move from this area is quite high from now onward.
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