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4 Hour Strategy (MACD)

Quoting Borek
Hello,

My today's trade.
It's CT trade so only 0.5 % risk ( about 50 pips ), target ~100 pips ( 1% ).
Price is going back to 8/21 ema, also RT on macd as confirmation.

B.
All looks right, Borek. Wondering which pair you traded and on which tf (H4? H1?)

Thanks, Forest
Something is wrong with my MACD. Can someone help. I am using FX Pro feed so it is 5 decimal places and I have changed the settings of MACD levels to 150, 300, 400 etc.
Cheers
Novice198
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Quoting Forest-Sea
All looks right, Borek. Wondering which pair you traded and on which tf (H4? H1?)

Thanks, Forest
Hey

EU, H4
Quoting novice198
Something is wrong with my MACD. Can someone help. I am using FX Pro feed so it is 5 decimal places and I have changed the settings of MACD levels to 150, 300, 400 etc.
Cheers
Novice198
Hi

Try this one. It worked for me.

Cheers!
Attached File
File Type: mq4 MACDColoredv102decimal.mq4   6 KB | 394 downloads
  • Post #24,305
  • Quote
  • Edited Jun 7, 2011 3:00am Jun 6, 2011 5:05pm | Edited Jun 7, 2011 3:00am
Quoting Borek
Hello,

My today's trade.
It's CT trade so only 0.5 % risk ( about 50 pips ), target ~100 pips ( 1% ).
Price is going back to 8/21 ema, also RT on macd as confirmation.

B.
Because price hit RR=1 i moved my SL to BE.

B.

edit: closed on BE
Quoting Borek
Because price hit RR=1 i moved my SL to BE.

B.

edit: closed on BE
why not took a half out .let the other half run.so like this trad you did ,you will go home with a little profit.25pips is more than zero.
Quoting ssq
why not took a half out .let the other half run.so like this trad you did ,you will go home with a little profit.25pips is more than zero.
hm... i try to aim at rr=2, so i can make money even with 50% positive trades.
Quoting Borek
hm... i try to aim at rr=2, so i can make money even with 50% positive trades.
Hi

I think we have to be careful with counter trend trade (if I'm not wrong you took CT trade). Never expect rr=2 bcos prices can go back to their normal trend anytime. the best strategy for CT should be quick & run. So TP half & set another half BE & let it runs - is one of the best strategy for CT trade.IMHO
Yesterday EU I took profit - half 30 pips & another half 46 pips(macd round top).
today I entered EU macd divergence with broke out trend line 1.46696 now +9 pips.

Just now I took 20 pips profit & set another half to BE, set TP at 1.46000(round No.) around 21ema , see how it goes, I have to go to work - no time to follow the trade.

Cheers,

Peed.
Quoting nhuda
Hi

Try this one. It worked for me.

Cheers!
Nhuda,

Thanks for the needful.

Cheers
novice198
Quoting peed
Hi

I think we have to be careful with counter trend trade (if I'm not wrong you took CT trade). Never expect rr=2 bcos prices can go back to their normal trend anytime. the best strategy for CT should be quick & run. So TP half & set another half BE & let it runs - is one of the best strategy for CT trade.IMHO
Yesterday EU I took profit - half 30 pips & another half 46 pips(macd round top).
today I entered EU macd divergence with broke out trend line 1.46696 now +9 pips.

[color=Blue][i]Just now I took 20 pips profit & set another half to BE,...
Hey

Sure i agree with You, that's why i trade with only 0.5% risk on CT trade.

B.
Quoting Borek
Hey

Sure i agree with You, that's why i trade with only 0.5% risk on CT trade.

B.
Hi Borex,

Sorry I didn't take notice that you took 0.5% risk.
Congratulation you are having a big run. I've got only 20pips profit half lot due to set BE too early 20 pips, should be at least 30 pips but I had to go to work). Even I set at BE 30 pips still couldn't make it, short of about 5 pips.
Anyway profit is a profit, I'm happy.

Cheers,

Peed.
Long Trade based on the bullish candle off the 21ema with ZOB on the 4HTF.
Long Entry 117.362 TP1 117.642, TP2 117.862 & TP3 118.112, SL116.72
However, after I entered the trade I realised the heavy divergence and the the Pins on the earlier candles. It did reach my first target but I had set my Trade mgmnt EA incorrectly and as such I was out with only 0.5 pip profit.

Later on the the PA went down as per divergence, Double top and RT setup, which I missed as was busy with some other work.
On to the next one now.
Attached Image (click to enlarge)
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Time frame 4H and TL break and retest setup plus Trend Continuation signal on MACD.
Short Entry 1.4490, SL 60 pips and TP 60 pips just above the 200SMA.
So far the PA is moving in my direction.
3 trades since begining of this week. 1st EU was BE, 2nd EJ was full loss (have to work how to reduce the losses), and 3rd EU moving in right direction.

Cheers
Novice198

EDIT :- Out on BE +1. In hind sight I should have closed 1/2 position at plus 40 pips when moving the SL to BE+ 1
Also on the 1H TF the 365EMA acted as a support. Therefore, should we be looking at MA's on the 1H TF for possible Support and Resistance where PA may stall.
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I miss Phillip .i miss his videos .
A chart helps those who can read it.
  • Post #24,315
  • Quote
  • Edited Jun 11, 2011 8:54am Jun 10, 2011 10:26pm | Edited Jun 11, 2011 8:54am
No videos here. I enjoyed them also, but I missed a few of them. I'm busy studying other things about trading. Here is my short explaination of my trades for the week on the Eur. 3 kids and a FT jobs limit my explainations. The 1st trade is a straight forward TC that closed above the previous candles. If I remember correctly I only took 50-60 pips off that one. The second is a divergance trade plus a evening star pattern candle formation. I got in at 65's and took 90 pips off of it. My trade plan was to take 2/3's off the table at the 21 and let the rest run (based off longer term outlook which goes beyond the scope of this tread), which looks good in hind sight, but I did not exacute (chicken: afraid of losing the pips). The 3rd was the most frustrating. It was one that I put a pending order in to get some sleep instead of waiting for an entry. My order was in at 61's based on fibs (not pictured) and the white trendline, but was not hit. Based on my studies I should of put my order in lower based on the bearish 150 pip candle before it. When a candle of 150+ pip shows up a good entry is the 8 ema. It would have been a nice gain today. On the plus side, the large move today should provide a nice short in next wk
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A chart helps those who can read it.
We should have a pretty good shorting opportunity soon
Here's my entry. Will explain later
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Quoting Morelands
Here's my entry. Will explain later
still in the channel lines .
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A chart helps those who can read it.
chance to short.
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A chart helps those who can read it.
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