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4 Hour Strategy (MACD)

  • #24,881
  • Mar 1, 2012 11:51am Mar 1, 2012 11:51am
Quoting B.Boal
I entered Long because Hummer , MACD and rally 1.33000. Stoploss 1.32900 Profit target 21EMA.
Then price down...........down............hmm......
Please tell me what I was wrong.
there is my view, :-)
Attached File(s)
File Type: doc Hope this will be helpful.doc   486 KB | 585 downloads
Yvon
  • #24,882
  • Mar 1, 2012 3:13pm Mar 1, 2012 3:13pm
Quoting B.Boal
I entered Long because Hummer , MACD and rally 1.33000. Stoploss 1.32900 Profit target 21EMA.
Then price down...........down............hmm......
Please tell me what I was wrong.

As per the market rhythm when the price breaks the 21 EMA and closes below it ( in an uptrend ) , it tends to pull back to the 21 EMA and then move to the 89 MA. However its kind of an against the trend trade so I avoid this setup.I tend to wait and trade of the 21 EMA only. There will be many opportunities and most importantly they will be with the trend. Remember Trend is your friend.

P.S I also see a MACD divergence which would have kept me out of a long trade in this scenario.
  • #24,883
  • Mar 1, 2012 7:34pm Mar 1, 2012 7:34pm
Dear balba77, trademin, me_nabeel1

Thank you for your ideas.
I did not care the MACD Divergence. Blunder.....
I think I will try to avoid counter trend trade. I will trade only along trend like TC.
Good luck.
  • #24,884
  • Mar 1, 2012 10:49pm Mar 1, 2012 10:49pm
Quoting B.Boal
Dear balba77, trademin, me_nabeel1

Thank you for your ideas.
I did not care the MACD Divergence. Blunder.....
I think I will try to avoid counter trend trade. I will trade only along trend like TC.
Good luck.

@B.Boal, Dear frds, am advising on the trading here. Before you enter any trade (Live in this case) please have more than 4 reasons for it. Like the trade Boal took, he had only one reason for it (The pin Bar). In this strategy, the pinbar is not a justifing reason for a trade by itself.

Here i would hav looked @ the trend of the market, our Moving averages, Resistance and support in that area, and finally the MACD.

with that i would hav had more than 4 reasons to wait!!

if it was still burning me to trade, i would hav gone to the 15min for further analysis or Entered the trade in a DEMO account!!


Therefore, Lets go back to the strategy and read it and do what it says, with that, we will have more than 4 reasons to smile all the way to the bank...
hope this was helpful.

Wishing you greens in your account history.
  • #24,885
  • Edited 6:04am Mar 2, 2012 5:44am | Edited 6:04am
Quoting george4forex
@B.Boal, Dear frds, am advising on the trading here. Before you enter any trade (Live in this case) please have more than 4 reasons for it. Like the trade Boal took, he had only one reason for it (The pin Bar). In this strategy, the pinbar is not a justifing reason for a trade by itself.

Here i would hav looked @ the trend of the market, our Moving averages, Resistance and support in that area, and finally the MACD.

with that i would hav had more than 4 reasons to wait!!

if it was still burning me to trade, i would hav gone to the 15min for further analysis or Entered the trade in a DEMO account!!


Therefore, Lets go back to the strategy and read it and do what it says, with that, we will have more than 4 reasons to smile all the way to the bank...
hope this was helpful.

Wishing you greens in your account history.

4 reasons...good plan....memorizeing.....OK

By the way,I use big numbers like 1.3100,1.3200 for profit target only 2 scenes. First ,near the MAs. Second, there is no MAs in the direction of the profit target.
Are these correct?
  • #24,886
  • Mar 5, 2012 1:40am Mar 5, 2012 1:40am
Quoting B.Boal
4 reasons...good plan....memorizeing.....OK

By the way,I use big numbers like 1.3100,1.3200 for profit target only 2 scenes. First ,near the MAs. Second, there is no MAs in the direction of the profit target.
Are these correct?

I would not say about its accuracy because i havent back & Forward tested that. all i would say, a R:R of 1:1 is a beauty.
Moreover, with combination of market patterns, fibo and Resistance and Support knowledge, a better reward can be obtained.

do a back test and your will see if it works, please do a forward test on a demo till you are good @ identifying them.

Wishing you greens in your account history dude.
  • #24,887
  • Mar 5, 2012 3:13am Mar 5, 2012 3:13am
hi,

Im waiting to long GU the next hour (wait for new H4 candle)
Trading Forever !!!
  • #24,888
  • Mar 5, 2012 11:19am Mar 5, 2012 11:19am
Quoting trademin
there is my view, :-)
Nice trade Yvon
  • #24,889
  • Mar 5, 2012 11:37am Mar 5, 2012 11:37am
Quoting Morelands
Nice trade Yvon
thank you Raymond
- I really like it when there's Head and Shoulders in formation and more when there's a pull back to that Head and Shoulders!
have a nice day,
Yvon
  • #24,890
  • Mar 6, 2012 12:45am Mar 6, 2012 12:45am
I traded this on the break of the channel created and after it closed down below the 200 SMA. If I would have gone with the TC , i would have nearly doubled the pips, however I didn't feel comfortable there as it was still trading in the channel. Please share your views about the trade and what were the do's and don'ts. Since its just a demo account , i like my trade to be analysed and criticized by you people as its always is a great help. Thanks in advance.
Attached Image (click to enlarge)
Click to Enlarge Name: trade1.png Size: 127 KB
  • #24,891
  • Mar 6, 2012 12:55am Mar 6, 2012 12:55am
This , I found to be a beautiful TC setup on GBP USD this morning , ( its morning here so might be a different time zone at your end). Though the pips weren't as many but i found it to be a safe and high probability trade. Please comment.
Attached Image (click to enlarge)
Click to Enlarge Name: trade2gbpusd.png Size: 135 KB
  • #24,892
  • Mar 6, 2012 4:40am Mar 6, 2012 4:40am
Nice TC, I took it.- it looks like the run down is not over yet, will see...
Attached File(s)
File Type: doc 120305EURUSD.doc   359 KB | 370 downloads
Yvon
  • #24,893
  • Mar 6, 2012 10:41am Mar 6, 2012 10:41am
Nice trades!! hope all of you have a lot of pips atm.

Unfortunately for me, the set up were in in sleeping hours, so, I couldīt take those trades.
I took the UsdChf (the chart is in the attached file I donīt know how to put directly in the post), but atm is stuck....will see what happen

Bernardo
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.gif Size: 21 KB
  • #24,894
  • Mar 7, 2012 1:25am Mar 7, 2012 1:25am
Hello guys, i am looking at the EU market on 4hour, is the MACD forming a valid head and shoulders pattern?
  • #24,895
  • Mar 7, 2012 4:24am Mar 7, 2012 4:24am
Quoting willie_hwl
Hello guys, i am looking at the EU market on 4hour, is the MACD forming a valid head and shoulders pattern?
Sorry for the delay, i was sleeping
There is an inverted sHs in my charts too, but there was a CT trade, so be carefull

Bernardo
  • #24,896
  • Mar 7, 2012 7:00am Mar 7, 2012 7:00am
Quoting balba77
Sorry for the delay, i was sleeping
There is an inverted sHs in my charts too, but there was a CT trade, so be carefull

Bernardo
By CT do u mean trend continuation? On which candle if i may ask?

Thank you for your reply
  • #24,897
  • Mar 7, 2012 8:58am Mar 7, 2012 8:58am
Quoting willie_hwl
By CT do u mean trend continuation? On which candle if i may ask?

Thank you for your reply
Nop, i meant Counter Trend. The signal was in the 00:00 candle, in my timezone (south america, I think GMT - 3)

Bernardo
  • #24,898
  • Mar 8, 2012 1:13am Mar 8, 2012 1:13am
Found this helpful and thought of sharing...

Trading is a losing game if you can not control yourself.

- If you afraid to lose, you will lose
- If you afraid to win, you will lose
- if you hope to win, you will lose
-If you lose your hope to win, you will lose
- If you greed you will lose
- If you are not greed, you will lose
- If you are late you will lose
-If you are too early you will lose
- if you get disappointed and mad when you lose, you will lose even more.


But it's funny how my mentor keep saying : "Learn the market Motion, Emotions and Rhythm, and you will find this to be a BEAUTY"

This lead me to saying "Forex is like picking money from the floor. It's as easy as that. The problem start only when you start to take more than what you need."

Balance is the key. Learn from the universe around you. How God created the universe and put everything in a balance to make everything work. That's the rule of this universe. So it means, your trading strategy will only work if you can find a balance inside you. Balance between fear and hope. Balance between starting and stopping the trade. Balance between being smart and be a stupid. Balance between doing the trading and doing everything else you are supposed to do in your life.

There's a limit in everything. The price will not climb or falling forever. At some point it has to rest for turning around or continue further. We should learn from it.

It means, we can not break our limit and expect to become a good trader in a day, a month or even a year. We just have to keep punching and kicking our limit step by step while maintaining a good balance inside ourself. Sometimes we have to stop to get rest before we continue later.

Forex will teach you so much about yourself. Learn from it to recognize and overcome your weaknesses. Keep your balance straight, so you can stand on it. If your balance fall, you will fall.

Remember this, You only lose when you lose your money. Missing an opportunity to make a money is never make you a loser. Dont push your luck by forcing a trade, be patience. There'll be plenty of opportunity in another time.

You can confirm this from back testing... is this true?
Attached Images
  • #24,899
  • Mar 8, 2012 7:11am Mar 8, 2012 7:11am
Remember that when you lose, what you are feeling is totally irrelevant. For a long time, what you feel and what you should be doing are going to be in conflict. Losing is part of making money here. 15% of the time there is no possible way for you to know what happens. So the best you can hope for is 80% wins. That means that 20% of the time, you are going to lose, and that's if you actually know what you are doing.

Any training program should include a way for you to learn to trade without being attached the the outcome. As part of this, accept the risk before you even take the trade. Be okay with losing and focus on what you are learning instead.
Attached Image
  • #24,900
  • Mar 8, 2012 11:06am Mar 8, 2012 11:06am
Quoting balba77
Nice trades!! hope all of you have a lot of pips atm.

Unfortunately for me, the set up were in in sleeping hours, so, I couldīt take those trades.
I took the UsdChf (the chart is in the attached file I donīt know how to put directly in the post), but atm is stuck....will see what happen

Bernardo
Finally stopped out for a 51 pips loss....
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