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4 Hour Strategy (MACD)

  • #25,241
  • Jan 11, 2013 8:21am Jan 11, 2013 8:21am
eurusd long:

what a beautiful nice ride up!
Yvon
  • #25,242
  • Jan 11, 2013 8:45am Jan 11, 2013 8:45am
Yvonn,

What do you mean nice ride up? I just got stopped out. I took the RT for a sell. I'm new to trading and new to this system. This was my 2nd live trade. Don't understand what I did wrong. Maybe I should not trade any trend reversals now and just trade the trend off the 21.

Scott
  • #25,243
  • Edited 11:08am Jan 11, 2013 11:07am | Edited 11:08am
Quoting sfilion22
Yvonn,

What do you mean nice ride up? I just got stopped out. I took the RT for a sell. I'm new to trading and new to this system. This was my 2nd live trade. Don't understand what I did wrong. Maybe I should not trade any trend reversals now and just trade the trend off the 21.

Scott

Hi, sfilion22,
here is my view of it:

the nice ride up: it is from the support line ( red line) to the doted line.

stop out: it was RT so to go short was a possibility. But the long candle just before your entry mesure 235 pips.(on the daily)- It Is a very strong market at that point.

- I didn't take the RT. I have been long from the bottom.- so I wasn't there yet. and I figured the strenght wasn't exausted at that moment. And the formation of candles (forming the RT) represented for me a consolidation which I call also "Confusion " (since ordinary the next direction Is unknown).- I guess the people took a break here, waiting for a clue from the market before acting on It.-but I was in already, I just took some more positions.-and got out at almost dotted line, taken by trailing SL. I just left one there, with a very tight SL on It…still having 1.3450 as target. will see…
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: sfillion22-eurusd4h.jpg Size: 178 KB
Yvon
  • #25,244
  • Edited 9:30am Jan 13, 2013 3:03am | Edited 9:30am
A good Sunday to all!

Am new to this tread. Have spent time going thru the posts, articles, audios, videos, etc (not all 25K posts though :-( ). Could some kind soul pl tell me where to see Phillip's "Weekly Anticipation" posts/videos?

Many thx/Henry
  • #25,245
  • Edited 10:14am Jan 13, 2013 10:01am | Edited 10:14am
Quoting CollectPIPS
A good Sunday to all!

Am new to this tread. Have spent time going thru the posts, articles, audios, videos, etc (not all 25K posts though :-( ). Could some kind soul pl tell me where to see Phillip's "Weekly Anticipation" posts/videos?

Many thx/Henry
Welcome to the tread. here it is

https://skydrive.live.com/?cid=30d11...295047C9%21291

...but those are old commentary.-no new post for the moment.-still educative.


have a nice view
Yvon
  • #25,246
  • Jan 14, 2013 3:11am Jan 14, 2013 3:11am
Do we enter a trade after the next hour bar is formed? I find that I missed many trade if i were to wait for that. Is it advisable to enter a few minutes before the formation of next bar ... 1hr, 4hr alike. Can someone help me with this please. Appreciate. Tks.
  • #25,247
  • Jan 14, 2013 8:52am Jan 14, 2013 8:52am
Quoting Fuiyong
Do we enter a trade after the next hour bar is formed? I find that I missed many trade if i were to wait for that. Is it advisable to enter a few minutes before the formation of next bar ... 1hr, 4hr alike. Can someone help me with this please. Appreciate. Tks.
sometime a candle changes rapidly when it is near its closing. While the candle is "doing his time" you have plenty of time to evaluate R/R.
the pdf as well as those videos shows examples to protect yourself while staying in the strategy-all among exemples through the tread.

hoping it will help you.
Attached File(s)
File Type: zip Is the strategy still working Part 1.zip   1.4 MB | 491 downloads
File Type: zip Is the strategy still working Part 2.zip   1.7 MB | 425 downloads
File Type: zip Is the strategy still working Part 3.zip   1.5 MB | 462 downloads
File Type: pdf Planning your Trade (3).pdf   96 KB | 529 downloads
Yvon
  • #25,248
  • Jan 14, 2013 9:47pm Jan 14, 2013 9:47pm
Hi Yvon,

Thanks for reply and the attachment. It gave me some insight but does not quite answer my question about entry. Sometime when I set it up to enter at the last bar closing price, the move is already way pass the entry price so i miss the trade as a result.

Quoting trademin
sometime a candle changes rapidly when it is near its closing. While the candle is "doing his time" you have plenty of time to evaluate R/R.
the pdf as well as those videos shows examples to protect yourself while staying in the strategy-all among exemples through the tread.

hoping it will help you.
  • #25,249
  • Jan 15, 2013 3:55pm Jan 15, 2013 3:55pm
Trading From the Lens of Phillip Nel:

EUR/USD pair/7:00 candle close/GMT+2

Every information is inserted in the chart. Cheers!

God Bless Phillip!
Attached Image(s) (click to enlarge)
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  • #25,250
  • Jan 16, 2013 4:51pm Jan 16, 2013 4:51pm
Quoting Fuiyong
Do we enter a trade after the next hour bar is formed? I find that I missed many trade if i were to wait for that. Is it advisable to enter a few minutes before the formation of next bar ... 1hr, 4hr alike. Can someone help me with this please. Appreciate. Tks.

Please I think what you are saying is how to get early into a trade before the move passes away?
If this is what you mean; I want to say this to you: From the rules of this system (4 HOUR STRATEGY), trades are entered at the close of a 4-HOUR candle or bar, just at the close of it, simple... Actually there are cases where waiting to enter at the close of a 4-Hour bar, the market or price would have moved so far that it may not be recommended for a trader to enter a deal with respect to the risk/reward ratio at that stage...because the move has gone far away already. That is true!

But we have another excellent step we take here to overcome that. THIS IS WHAT IS CALLED THE 1-HOUR EARLY ENTRY TECHNIQUE! This is very powerful. In fact, almost all the trades I post here are taken that way. I use most often the 1-HOUR time frame to enter into the 4-HOUR candle early such that before the 4-Hour candle closes, I am into pips already, in many cases, I can even take partial profits at that point. This is the 1st way to combat the problem you are having.
The 2nd way is what is called LONG CANDLE ENTRY TECHNIQUE: very powerful too. Here what happens is this; if I waited for the 4-HOUR candle to close before I enter, and I discovered that price has gone far away, that getting on board at that stage my be risky for me; I just use my FIBONACCI tool on the LONG or BIG 4-HOUR candle that just closed, drawing the Fibonacci from top to bottom of the candle, then wait for future price action to retrace to certain key levels of the Fibonacci - 50 or 61.8 most especially. As price retraces to any of these levels it tends to reverse in its previous direction with a good signal candle, then you can enter with a stop loss that is less or very small compared to the one you would have risked if you had entered just at the close of the 4-HOUR bar...also trades can be entered in stages with splitted lots or position sizes....

Please bear with me; I just stopped by and try to reply to your post, so I could not post chart examples. But I can do that another time if you insist. But meanwhile just go through page 1 of this thread. Look through the contents and you will see the pages and post numbers where you can get more of what I have exactly said to you here....If my reply is in the right direction to what you are looking for do let me know, it will give me insight on how to help you better. Another thing you may want to do is to click on my name and go see the trades which I did in my live account which I had posted since 2011, that will also help... You are welcome to this great family of traders!
  • #25,251
  • Jan 16, 2013 6:33pm Jan 16, 2013 6:33pm
Having seen Philip doing the trading on the EURUSD pair, I was wondering if anyone has successfully applied the methodology to any other pairs?
The fundamental laws of trading are equal across any pair, it's the dynamics that are different, and it feels that MACD would be equally applicable on any pair for that matter. As I've started applying the methodology, I've traded successfully across major pairs and wanted to see if anyone else has been able to apply themselves there as well.

By the way, the book that has been recommended here, Disciplined Trader, is fantastic, has anyone else managed to read through it?
Those that can't, teach, and those that can, do.
Star Ribbean Return This Year: 0.1%
  • #25,252
  • Jan 16, 2013 8:52pm Jan 16, 2013 8:52pm
Thanks for your reply certainly very helpful. I remember reading the info in page 1 of this thread about the 1 hour macd and using FB.

Sometimes i find problem using the strategy maybe i am not farmiliar not that there is any wrong with it.

Appreciate if you could post some trade you have taken as examples to me to go through. It will help a great deal. Thanks you once again for being able to help.

Quoting naustingfx

Please I think what you are saying is how to get early into a trade before the move passes away?
If this is what you mean; I want to say this to you: From the rules of this system (4 HOUR STRATEGY), trades are entered at the close of a 4-HOUR candle or bar, just at the close of it, simple... Actually there are cases where waiting to enter at the close of a 4-Hour bar, the market or price would have moved so far that it may not be recommended for a trader to enter a deal with respect to the risk/reward ratio at...
  • #25,253
  • Edited 1:20pm Jan 17, 2013 3:10am | Edited 1:20pm
Quoting Acolyte
Having seen Philip doing the trading on the EURUSD pair, I was wondering if anyone has successfully applied the methodology to any other pairs?
The fundamental laws of trading are equal across any pair, it's the dynamics that are different, and it feels that MACD would be equally applicable on any pair for that matter. As I've started applying the methodology, I've traded successfully across major pairs and wanted to see if anyone else has been able to apply themselves there as well.

By the way, the book that has been recommended here, Disciplined...
Trading From the Lens of Phillip Nel

Eur/Usd Pair/17th,January,2013/8:00 candle close/GMT+2

3 Deals or Entries were made; here I have locked in some profits-Tp1 taken and 2 other positions I have allowed to be well filled.
Yes! This strategy works excellently well in all pairs. Even in other markets like fixed odds, stocks, options, commodity, and what have you...Remember we are trading people and not just events or news! What moves the market and makes it behave anyway is not the news but the actions taken by people based on the interpretation of the information or news that they get. And these actions of the sons of men are reflected in our charts showing up in diverse candle or bar formations and patterns. And we who by grace are able to read these patterns of human behavior or activities take advantage of whatsoever they are doing to lock in pips into our live accounts. Cheers!

I WANT TO LET EVERYONE HERE KNOW THAT FOR MORE THAN ONE YEAR NOW I HAVE NOT LOOK INTO NEWS FOR MY TRADING OR EVEN CONSIDER NEWS QUOTES IN FOREX FACTORY OR ANY OTHER WEBSITE TO TRADE...NOT AT ALL. I AM A CORE CHARTIST: THE FACTS ARE IN FRONT OF MY SCREEN...PRICE NEVER TELL LIES...IF I CAN GENERATE SUCCESSFUL SIGNALS FOR MORE THAN 100 TRADES TAKEN IN MY LIVE ACCOUNTS WITHOUT LISTENING TO ANYONE OR THE NEWS, THEN WHAT DO I NEED THE NEWS FOR???
Attached Image (click to enlarge)
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  • #25,254
  • Jan 17, 2013 2:17pm Jan 17, 2013 2:17pm
Life is a chart and can be traded!
Update of Events:

  1. My 2nd position has been filled. So my Tp2 hit.
  2. The 3rd position still on; this trade or price has got enough potential to kiss the weekly and monthly 200 and 89 respectively
  3. I have also adjusted my stop loss to break even (BE)
  4. The odds are in my favor! I have on it.
  5. Cheers!

God bless Phillip!

Attached Image (click to enlarge)
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  • #25,255
  • Jan 17, 2013 3:04pm Jan 17, 2013 3:04pm
RIDING THE TREND AND MANUAL TRAILING

Update:

 

  1. I am trailing the market manually. From the present weather condition, there is potential for price to kiss my long term profit target, Tp3.
  2. I already have about 80 pips taken off the table from my Tp1 and Tp2 targets that have been filled.
  3. My chart below shows my new settings as per stop loss adjustment and profit target...
  4. Cheers!

Attached Image (click to enlarge)
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  • #25,256
  • Jan 20, 2013 11:41am Jan 20, 2013 11:41am
nice thread
  • #25,257
  • Edited 3:25pm Jan 20, 2013 3:13pm | Edited 3:25pm
Trading From the Lens of Phillip Nel:

Traders and Price Understand each other: (We have a cordial and logical relationship with price!)

In as much as price reveals to us a certain direction it is bound to take or go early before it proceeds heavily or strongly in that direction, price as well through some patterns and formations, notifies us when it is no longer continuing in that direction.

That is, assuming any thing happens along its way and weather is no longer favorable for it to proceed in that direction, and price needs to reverse or retrace, it also signals or notifies us of its new direction through certain patterns or formations or weather conditions...

Having known this we do not follow a direction that price had shown us it is taking sheepishly....not at all. Rather as we follow the indicated direction, we monitor the behavior of price, and when it begins to tell us otherwise (giving us a direction signal contrary to the one it revealed before), we are expected to cooperate with it and be ready to follow in the new revelation of its new move, and taking the odds on for our favour....! As such we close previous positions taken and execute
new positions in the direction of its current move.

This is exactly what happened in my trade on the 17th of January 2013. My final target for profit taking was Tp3 as indicated in my charts above. In as much as the potential for price to kiss Tp3 (which is situated at 200sma for the weekly chart and 89sma as per the monthly chart) is strongly there; but for the time being , based on the rules of the 4-HOUR MACD SYSTEM we are expecting a temporal short move to the south which is most likely to occur before price can now set out for that potential to the Northward direction. So I was already in the long direction(buy) and two of my targets had been hit(Tp1 and Tp2) and the 3rd position was still in play. But I manually closed it when I saw an aggressive MACD Divergence signal on the 1-HOUR Chart, a double top of price on both the 4-HOUR and Daily time frames. These patternS simply tells me that price is ripe to reverse to the Southwards direction to fulfill the rule which says that when price breaks through a breakout level(here the 89sma on the WEEKLY happen to be the breakout level) in is tends to pull back to it once or twice before it continues in its way...so I closed my 3rd position for the long trade and I took a short position(sell) in fulfillment of the rules...HENCE, THE CHART/TRADE BELOW.
SEE PREVIOUS CHARTS ABOVE FOR THE WEEKLY CHART OR TIME FRAME. BUT THE CHART BELOW, I HAVE SHOWN THE WEEKLY 89 WITH A THICK BLUE LINE ON THE DAILY, 4HOUR AND 1HOUR CHARTS...

EUR/USD PAIR: 18th January,2013/10:00 Candle close/GMT+2

The charts below shows the following:

 

  1. My entry technique
  2. Tp1 and Tp2 taken already at same level a total of 90 pips gain
  3. My 3rd position still into play...this was on Friday...and I was expecting price to retest to breakout level, that is the 89sma of the weekly chart. Apart from the coincidence that 89 was a breakout level for price, the rule also says that when price breaks above or below the 89 it tends to pull back to it before it continues in its move; so the 89sma, the blue moving average on the weekly chart for the reasons mentioned above becomes a very strong and reliable profit target for price...SEE CHART!



Attached Image (click to enlarge)
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  • #25,258
  • Jan 20, 2013 3:57pm Jan 20, 2013 3:57pm
Update: As anticipated, price kissed the weekly 89sma, the thick blue horizontal line. I forgot that it was on Friday, so I did not close my 3rd position at that level, so I am still in the deal and market closed...watching to see what next week brings!

ANTICIPATION FOR FUTURE: From my weekly chart, INSET A, I am expecting a strong up move in the future of about 150pips. This is because of the strong green engulfing candle closing above the 2 small tails kissing the 89sma on my weekly chart. This is a very strong indication of an up move in the future...this could happen next week, or towards the last week of this month of January into the next month...I am waiting for it! If this had happened in the time frame we trade, the 4-Hour, I would have been in the deal already at the close of that strong bullish candle(the thin vertical red line on my weekly chart) and my stop loss set just below the low if the same candle...the profit target is the 200sma, the yellow moving average on my weekly chart which coincides with the 89sma, the blue moving average on the monthly time frame.

I hope that someone find a use of the information I post here....

Gloria in Excelsis Deo!

God Bless Phillip!
Attached Image (click to enlarge)
Click to Enlarge Name: Jan 18-result-weekly 89 kissed-OVERALL.gif Size: 65 KB
  • #25,259
  • Jan 20, 2013 11:07pm Jan 20, 2013 11:07pm
Thank you Sir! The posts are certainly useful, educational & inspiring! Keep them coming please.

God bless Phillip, you & all kind souls here!

Quoting naustingfx
Update: As anticipated, price kissed the weekly 89sma, the thick blue horizontal line. I forgot that it was on Friday, so I did not close my 3rd position at that level, so I am still in the deal and market closed...watching to see what next week brings!

ANTICIPATION FOR FUTURE: From my weekly chart, INSET A, I am expecting a strong up move in the future of about 150pips. This is because of the strong green engulfing candle closing...
  • #25,260
  • Jan 21, 2013 3:58pm Jan 21, 2013 3:58pm
Hi everybody,

Today I worked through the lessons Phil was given again and made a summary of it... It's a hughe one, but anyway that's also this system
Hope this helps everyone!!

Kind regards, HappyMe
Attached File(s)
File Type: docx How to work throught to the MACD 4 Hour trade system.docx   18 KB | 691 downloads
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