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4 Hour Strategy (MACD)

  • #26,101
  • Aug 12, 2013 8:37am Aug 12, 2013 8:37am
I thought the most current one would have been the one that was directed from page 1. I have not read the whole thread just yet, I was fishing around before, I thought it might be just as easy to ask. I am sure if I look I will eventually find it. thanks
  • #26,102
  • Aug 12, 2013 8:51am Aug 12, 2013 8:51am
Quoting dropnroll
I thought the most current one would have been the one that was directed from page 1. I have not read the whole thread just yet, I was fishing around before, I thought it might be just as easy to ask. I am sure if I look I will eventually find it. thanks
Look at post 25.280
you find here some different versions....
You can manage risk, but you can't manage the return
  • #26,103
  • Aug 12, 2013 9:30am Aug 12, 2013 9:30am
thanks HappyMe. what an awesome system this is. I took the EURUSD short trade 4hr today on the retrace back up to the 21SMA 1.3335 SL 1.3350 with tp at the 89SMA 1.3280 55 pips profit with 15pip risk. prob go further, but happy with what I got . To all that contribute to this thread BIG thank you
  • #26,104
  • Aug 12, 2013 6:26pm Aug 12, 2013 6:26pm
Quoting dropnroll
Hi all, I stumbled across this thread last Friday, been reading ever since. I have always loved MACD and really appreciate this thread. I downloaded the MACD indie and placed it on the 4 hourly chart. Problem is the levels are all squashed up, I tried to adjust the levels it instead of 30 changed it to 0.0030. but then just reverts back to default when I change to a different time frame. I am unable to see the zero line as the levels are squashed. Any suggestions would be great.. Cheers
I use the 103version. I had the same problem with edited levels going back to default upon restarting MT4. What I did was to delete the complied .ex4 file that MT4 generate and edit the mq4. Look for the levels line and edit them to your default value.
If my answers frighten you then you should cease asking scary questions.
  • #26,105
  • Aug 12, 2013 9:38pm Aug 12, 2013 9:38pm
Hi edge-t, its good to know for future reference about deleting the compiled .exe4 and edit the mq4 file. The v102 seems to hold up ok.
  • #26,106
  • Edited 8:52pm Aug 18, 2013 8:23pm | Edited 8:52pm
Hi, it's a Monday morning in Asia. I took 3 trades last week, 1 win 2 losses. Ah....... what went wrong with my analysis, AGAIN? I seriously don't know? Many times, I want to give up..... give up forex and give up asking God. I have traded on demo account for 4 years now and using 4MACD strategy for 2.5 years, maybe. And all these while without success. I felt insulted by my own incapability.
  • #26,107
  • Aug 18, 2013 8:52pm Aug 18, 2013 8:52pm
Quoting Fuiyong
Hi, it's a Monday morning in Asia. I took 3 trades last week, 1 win 2 losses. Ah....... what went wrong with my analysis, AGAIN? I seriously don't know? Many times, I want to give up..... give up forex and give up asking God for insight and wisdom. I have traded on demo account for 4 years now and using 4MACD strategy for 2.5 years, maybe. And all these while without success. I felt insulted by my own incapability.
Hi Fui,
Mate it seems like you are getting a little frustrated with yourself. I am nearing my 5th year of study in this game and set myself a goal of becoming a successful trader at the end of that 10,000 hrs learning period. Unfortunately for me, I was very late in finding this great thread from Phillip. In my opinion - this is the very best method once we get it under control. I am just preparing my last 3 month results from my Sim A/c and I must admit, I am pretty confident that I am seeing things more evenly these days. I don't do much posting here lately as I find preparing charts & making comments a bit distracting when I am trying to analyse possible setups. I am not one of the experts here & I leave the senior advice to be given by Trademin & Nausting. However I am more than happy to try & help you through this temporary issue if you want. As a suggestion (and you can PM me if you prefer not to discuss this on the thread ) , what about letting us have a look at your trade Plan & Rules. Perhaps there is something that just needs a wee adjustment for you to be able to turn your results into positive.
Keep going buddy - there are not many left here on this thread but we sure have got our share of great quality traders to help each other out.
  • #26,108
  • Aug 19, 2013 1:23am Aug 19, 2013 1:23am
Quoting Fuiyong
Hi, it's a Monday morning in Asia. I took 3 trades last week, 1 win 2 losses. Ah....... what went wrong with my analysis, AGAIN? I seriously don't know? Many times, I want to give up..... give up forex and give up asking God. I have traded on demo account for 4 years now and using 4MACD strategy for 2.5 years, maybe. And all these while without success. I felt insulted by my own incapability.
Listen buddy, we're all in the same boat.

Just under 3 years trading using a micro account (tried demo and just doesn't cut it for me as no feeling when trading, very easy to leave trades open)

Its only the previous 4 months i have stopped losing (that does not mean i am winning hahaha) I am breaking even...

I couldn't understand this before but now I know its the final step before becoming a profitable trader but no idea in time how long this will take.

I have bounced around using all systems and indicators and this is the best one, straight forward to use while you can quietly learn more about trading.

Now this is where I am at the moment.
I only ever looked at EUR/USD... then tah dah...last week I put the 11 most popular pairs on my MT4 and now using this system I can see the rhythm building up by looking at all these different pairs...it really does help as you are not waiting hours/days for 1 set up..
(if you only look at 1 pair i suggest you have a go at looking at more.)

I had some small wins last week but closed them all too early...that is my next emotion to control.... BUT none of them was from EUR/USD..

Hope this offers another angle for you..
  • #26,109
  • Aug 19, 2013 7:09am Aug 19, 2013 7:09am
Hi Binnie and Yeekruay,

Thanks for you reply and being supportive. Appreciate that from the bottom of my heart.
  • #26,110
  • Aug 19, 2013 4:27pm Aug 19, 2013 4:27pm
Agree with yaakray we are in the same boat. Maybe Forex isn't for us retail traders. But one thing I learn about doing business, its often when u are about to give up that success is just round the corner. Keep at it bro. Hopefully I can stick to it as long as you did.

Where in Asia are you? I'm in Asia too.

PS. Just a suggestion from a newbie. Drop the counter trend trades---it helped me a lot when I stop going against the trend. Something I learned from reading Ryanmcd's posts.
If my answers frighten you then you should cease asking scary questions.
  • #26,111
  • Aug 20, 2013 1:26am Aug 20, 2013 1:26am
Hey is there an issue with the forum? I cannot upload chart from my computer which I used to be able to do so before.
  • #26,112
  • Aug 20, 2013 1:28am Aug 20, 2013 1:28am
Quoting edge-t
Agree with yaakray we are in the same boat. Maybe Forex isn't for us retail traders. But one thing I learn about doing business, its often when u are about to give up that success is just round the corner. Keep at it bro. Hopefully I can stick to it as long as you did. Where in Asia are you? I'm in Asia too. PS. Just a suggestion from a newbie. Drop the counter trend trades---it helped me a lot when I stop going against the trend. Something I learned from reading Ryanmcd's posts.
Hi,
I don't trade counter trend and I trade EURUSD only, at least for now.
  • #26,113
  • Aug 20, 2013 1:45am Aug 20, 2013 1:45am
Hi,

Did any take the EURUSD trade on 20th August at the close of the 0000hr candle? Entry is 1.3349, SL = 1.3325 (21ema) and TP = 1.3373. I wanted to post a snapshot of the chart but cannot do so. Do the rest of the have the same issue? Thanks
  • #26,114
  • Aug 20, 2013 1:48am Aug 20, 2013 1:48am
Quoting edge-t
Agree with yaakray we are in the same boat. Maybe Forex isn't for us retail traders. But one thing I learn about doing business, its often when u are about to give up that success is just round the corner. Keep at it bro. Hopefully I can stick to it as long as you did. Where in Asia are you? I'm in Asia too. PS. Just a suggestion from a newbie. Drop the counter trend trades---it helped me a lot when I stop going against the trend. Something I learned from reading Ryanmcd's posts.

Wish i had a read this yesterday morning...hahaha

After watching 11 pairs of currencies I was in the normal mood of wanting to trade and not waiting for a trade signal to appear
(how much easier it is to find a signal watching more pairs than just waiting for the Eur/Usd to show us 1 signal.. this has been a big step forward for me)

I went after the NZD/USD after the big drop at the top, i went for the bounce from the 8 on the H4..that was my only part of the plan.
(i was trading on my phone from work so no macd for confirmation etc)

Basically just a rubbish idea that price would turn around and bounce from the ema 8.. hahah rubbish idea and counter trend ..no substance at all...

Of course in hindsight you can see the trade was there but it was waiting for price to show itself and touch the 21 from underneath and keep going down...

Don't counter trend...I think it maybe a newbie(me) instinct to think that price is always ready to turn around..it seems much harder to go with the flow in my experience...don't know why though when every text book teaches about this..
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  • #26,115
  • Aug 20, 2013 3:47pm Aug 20, 2013 3:47pm
Quoting Fuiyong
Hi, Did any take the EURUSD trade on 20th August at the close of the 0000hr candle? Entry is 1.3349, SL = 1.3325 (21ema) and TP = 1.3373. I wanted to post a snapshot of the chart but cannot do so. Do the rest of the have the same issue? Thanks
Hi Fuiyong,
I got your PM so have posted this chart to check there are no issues with FF. If this is the trade you are referring to, I would not ( did not ) look at it and I will explain reasons in my next post.

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  • #26,116
  • Aug 20, 2013 4:54pm Aug 20, 2013 4:54pm
@ FUIYONG

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I am only guessing what you were seeing there Fuiyong and I know my Charts will be slightly different to yours but the formation of the candles leading to your question will be similar. If you are looking to trade Phillip's H4 Macd method, it is very important that the Macd is used to confirm a trade entry and the actual trigger for entry is the close of the current candle. The motion of Price is the most significant point to the system and on my chart, I can not see any indication that there is a trend for me to look for the necessary pullback to provide a safe entry . Agreed, we are above the 89 so I will always be looking for Long Trades only.
If you can see my snapshot of the Macd, the blue bar at 00.00 am is not IMHO indicating a TC. Even if my price had been trending upwards , the Macd is heading lower with too many colour changes. I think this just confirms that the Market players are undecided.

If you entered at 1.3349 per your post, I am assuming your stop got taken when price made 1 last attempt back to the 21. I know it is frustrating and is part of our daily decision making but I have found that I have to take losses when I do not allow my trade room to work in. A s/loss of 24 pips on H4 timeframe might be a bit too tight do you think ??

Price has now broken right out of its box and smashed through the BRN 1.3400. IMO - this leads me to the prospect of a strong retrace back to support which can be any or all of the BRN / the 8 ma or the 21 ma. I will then watch for the bullish trend to continue and wait to see if the Macd will confirm with a TC.
  • #26,117
  • Aug 20, 2013 6:25pm Aug 20, 2013 6:25pm
Hello Binnie,

I ended up taking the 08/20/2013 00:00 trade. I entered twice and closed out of my 1st trade with 20 pip profit. I am currently in a risk free 2nd trade. I think the 1.3400 price acted as resistance from looking back on 06/19/2013 and 08/08/2013 until today when price recently broke through and now the 1.3400 is acting as support. If price bounces off the 1.3400 price level i think we will continue in an upward trend. Does this make sense? I am fairly new to trading. Scott
  • #26,118
  • Aug 20, 2013 7:34pm Aug 20, 2013 7:34pm
Quoting sfilion22
Hello Binnie, I ended up taking the 08/20/2013 00:00 trade. I entered twice and closed out of my 1st trade with 20 pip profit. I am currently in a risk free 2nd trade. I think the 1.3400 price acted as resistance from looking back on 06/19/2013 and 08/08/2013 until today when price recently broke through and now the 1.3400 is acting as support. If price bounces off the 1.3400 price level i think we will continue in an upward trend. Does this make sense? I am fairly new to trading. Scott
Good one Scott - I agree totally . The 1.3400 has served as a solid Resistance in the recent past and looks like it could now become Support. It does not have to be the BRN either. The 8ma or even the 21 ma can act as Support here so it will be interesting to see closer to London Open. There is not a lot of volume in these last couple of bars so might be a bit early to make a firm judgement but yes, I can see a continuation as a possibility. I think the Pin Bar High could just be some profit taking following that big breakout through the 1.3400 level but the Macd is forming a nice Round Top which indicates to me price might be ready to take a breather before the next run up. Ideal would be a retrace back to Support then a strong move away with a TC confirmation on the Macd.
Can you do us a favour buddy and post a chart of your setup please. It helps all of us to learn what you are seeing and gives an insight as to why you have taken a trade. What was your entry / stop & targets ?
Thanks for posting - look forward to sharing thoughts & charts with you mate.
  • #26,119
  • Aug 20, 2013 9:40pm Aug 20, 2013 9:40pm
I hate it when this happens

Nobody to blame but ME - been waiting for some nice momentum on this one , then when the Rythym dances off the *8 & closes through the * 89 and the Macd is screaming for me to play , I am absent from the screen trying to arrange tickets to the Bruce Springsteen Concert in Auckland next March. ( LOL - what a dumb-ass ).

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  • #26,120
  • Aug 20, 2013 9:43pm Aug 20, 2013 9:43pm
Very interesting explanation, Binnie. Got a few questions. I don't trade the H4 now, moved to the H1, since I am an impatient person by natural---probably a bad thing for retail forex, but it allows me to make more mistakes and learn faster----at least that's what I think. I take maybe 1-2 trades a day. Btw, I use a 50SMA instead of 89.

Going by your explanation, I take it that if you see a downslope on the MACD from left to right, you would not have taken the next trade---cause it's not a TC in your opinion? Am I right in saying that?(Like the trade with the vertical red line). But you would take the trade with the vertical green line?

I would have taken no. 2 and 3, including the green and red ones, based on HL, LH chart patterns, price bouncing off the 21(or crossing), enough room to the next BRN. So, looking at the chart, you would have ONLY taken the one with green vertical line? Any thoughts?
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If my answers frighten you then you should cease asking scary questions.
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