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Multi time frame Simple MACD system

  • #201
  • Sep 11, 2013 1:35am Sep 11, 2013 1:35am
Garfield , I just realized not sure if I should have posted that chart with the pivots , apologies if I did wrong ,wont happen again.
It was a small win for the system 10 pips sticking to the rules .

Regards Orid
  • #202
  • Sep 11, 2013 1:42am Sep 11, 2013 1:42am
Hi Garfield95 and all others,

Alright, I succeeded in installing MT4 with templates and MACD three color indicator Great trading platform for Forex I was wondering and this is a question for Garfield95 : how do you manage the quantity of all your positions so quick? I mean, I was reading somewhere that your stop-loss for each trade is no more than 2% of your trading money. I know the Money Management rules, this is a good one. When I look at a screen image of yours with a few positions I see that for each trade you have different quantities. I understand, but.......

This has everything to do with 1. the value of the specific pair in relation to your own currency. 2. The size of the Bar where the signal was generated. It makes me very confusing. In the heat of the moment I don't want to calculate this first and than go in. I am too late I think I hope you understand what I mean. Please, can you, or somebody else, help me with this issue?

Thanks,
Luvene
Keep it simple without too many crappy indicators!
  • #203
  • Sep 11, 2013 1:49am Sep 11, 2013 1:49am
Quoting luvene
Hi Garfield95 and all others, Alright, I succeeded in installing MT4 with templates and MACD three color indicator Great trading platform for Forex I was wondering and this is a question for Garfield95 : how do you manage the quantity of all your positions so quick? I mean, I was reading somewhere that your stop-loss for each trade is no more than 2% of your trading money. I know the Money Management rules, this is a good one. When I look at a screen image of yours with a few positions I see that for each trade you have different...
I use this site http://www.earnforex.com/position-size-calculator to do a quick calculation for trade size based on my account equity and pips size of the candle.
Trading is SIMPLE not EASY.
  • #204
  • Sep 11, 2013 1:50am Sep 11, 2013 1:50am
Quoting orid
Garfield , I just realized not sure if I should have posted that chart with the pivots , apologies if I did wrong ,wont happen again. It was a small win for the system 10 pips sticking to the rules . Regards Orid
no prob
Trading is SIMPLE not EASY.
  • #205
  • Sep 11, 2013 2:31am Sep 11, 2013 2:31am
Quoting luvene
Hi Garfield95 and all others, Alright, I succeeded in installing MT4 with templates and MACD three color indicator G
Hi, first of all, I do understand you will start with demo account, if not STRONGLY recommend to do so. As long as demo account is concerned do not boder of the trade size, take smaller position as possible and start calculate pips not dollars, for dollars time will come later.
Try to made first 20 trades , and proof yourself that you are able to follow the rules, in this methodology rules are simple, never the less many of new traders have problem to folow them anyway. Check it for your own good... Its good to made number of backets, its save time to learn the rules, but do not lay to much on it, the, use them rather for training how to operate with MT4 and rules following.
make journal of your trades, it is a must. MAke notes of everything what is connected with your trade, even your headache . Journal helps you to improove your trading let you know how you perform and where you are making mistakes. Becose you will make mistakes thats for sure.
Happy Trading
JacekPreserve Precious Capital
  • #206
  • Sep 11, 2013 2:45am Sep 11, 2013 2:45am
hello all,

thank you for the system garfield, it looks very nice.

@luvene:
unbelievable as it may sound, mt4 is displaying macd wrong. well, not wrong, but not in the traditional way, as everyone else does. the computation is not wrong.
mt4 shows the signal line as a histogram and the ma as a line. this method uses the signal line.
traditional way (all other platforms, books etc) is having a line for the signal, line for ma and the histogram shows the distance between the two lines.
you may change your software to display the signal line as a histogram and discard other lines to match the mt4 macd.

I am guessing mt4 cannot change now because of the shock they will produce to the mt4 users.

cheers.
aristides.
  • #207
  • Sep 11, 2013 3:04am Sep 11, 2013 3:04am
Quoting aristid
hello all, thank you for the system garfield, it looks very nice. @luvene: unbelievable as it may sound, mt4 is displaying macd wrong. well, not wrong, but not in the traditional way, as everyone else does. the computation is not wrong. mt4 shows the signal line as a histogram and the ma as a line. this method uses the signal line. traditional way (all other platforms, books etc) is having a line for the signal, line for ma and the histogram shows the distance between the two lines. you may change your software to display the signal line as a...
Hi Aristid, a great shock indeed.....

@Garfield95 : what do you think?

Thanks!
Luvene
Keep it simple without too many crappy indicators!
  • #208
  • Sep 11, 2013 3:20am Sep 11, 2013 3:20am
Quoting luvene
{quote} Hi Aristid, a great shock indeed..... @Garfield95 : what do you think? Thanks! Luvene
I have only used MT4 for trading all the time in last 5 years, except for 2 months when I tried our ninja trader, trade station and e-signal,
went back to MT4 pretty quickly.

Not sure if MACD display correctly or incorrectly. It works for me.


it's a slow market today so far. EURUSD has generated a long signal on daily chart this morning. 7 PM candle close in 40 mins, might confirm it on 4 hours too..
Trading is SIMPLE not EASY.
  • #209
  • Sep 11, 2013 3:51am Sep 11, 2013 3:51am
(clarification: this does not affect the method in any way, its just good to know if you're trying to reproduce it on different software)
  • #210
  • Edited 4:51am Sep 11, 2013 4:41am | Edited 4:51am
Quoting garfield75
{quote} I have only used MT4 for trading all the time in last 5 years, except for 2 months when I tried our ninja trader, trade station and e-signal, went back to MT4 pretty quickly. Not sure if MACD display correctly or incorrectly. It works for me. it's a slow market today so far. EURUSD has generated a long signal on daily chart this morning. 7 PM candle close in 40 mins, might confirm it on 4 hours too..
I'm long for yesterday's DAILY signals on

EURUSD
USDCHF
USDJPY
EURJPY

Let's see...
  • #211
  • Sep 11, 2013 5:53am Sep 11, 2013 5:53am
Garfield75 a question please, on the 4hr if the trade is not triggered on the candle after the setup candle do you always close the trade and look wait for another setup ?
or if pa looks like it might trigger on second candle if macs are still all same colour, keep the order open presuming you check chart at close of the 4hr candle? .
Hope this makes sense.
regards orid
  • #212
  • Sep 11, 2013 5:54am Sep 11, 2013 5:54am
Quoting garfield75
{quote} I have only used MT4 for trading all the time in last 5 years, except for 2 months when I tried our ninja trader, trade station and e-signal, went back to MT4 pretty quickly. Not sure if MACD display correctly or incorrectly. It works for me. it's a slow market today so far. EURUSD has generated a long signal on daily chart this morning. 7 PM candle close in 40 mins, might confirm it on 4 hours too..

Can we add sound alert with this system, When we have same color on all MACD?
  • #213
  • Sep 11, 2013 6:27am Sep 11, 2013 6:27am
Quoting orid
Garfield75 a question please, on the 4hr if the trade is not triggered on the candle after the setup candle do you always close the trade and look wait for another setup ? or if pa looks like it might trigger on second candle if macs are still all same colour, keep the order open presuming you check chart at close of the 4hr candle? . Hope this makes sense. regards orid
always close the trade and wait for another setup.
Trading is SIMPLE not EASY.
  • #214
  • Sep 11, 2013 6:28am Sep 11, 2013 6:28am
Quoting forextraderp
{quote} Can we add sound alert with this system, When we have same color on all MACD?
I don't know how to code, trying to find someone to code it for us!!
Trading is SIMPLE not EASY.
  • #215
  • Sep 11, 2013 6:37am Sep 11, 2013 6:37am
Quoting lucariga
{quote} I'm long for yesterday's DAILY signals on EURUSD USDCHF USDJPY EURJPY Let's see...
Cool.
EURUSD/USDJPY/EURJPY all three have met the criteria for long setup.

USDCHF had 200 MA near entry price.
Trading is SIMPLE not EASY.
  • #216
  • Sep 11, 2013 7:45am Sep 11, 2013 7:45am
Quoting garfield75
{quote} Cool. EURUSD/USDJPY/EURJPY all three have met the criteria for long setup. USDCHF had 200 MA near entry price.
strange my charts agree with you on all except e /u which still shows all red on 2nd mac last ten bars?
  • #217
  • Sep 11, 2013 8:19am Sep 11, 2013 8:19am
Quoting orid
just rechecked the templates . 4hr no. 3 mac is set to 360-780-486 chart says 360-780-270. 1hr n0. 2 mac set to 48-312-36 chart says 48-104-36. hope I got that right might explain a few discrepancies between peoples charts if they are not checking. have a good day . Orid{image} just a quick m15 trade on pivot tut tut ,just wanted to show off my colours
Good morning orid.


Colors are cool!

The chart setting pic in post #1 shows the correct settings for each time frame, so the changes you made look to be correct.

In order to help you see the charts better because of your color blindness, I am attaching a sample chart with a couple different shades of blue. Would you please let me know if the various colors of blue are easily seen by you?
If this color combination is alright, I will change all my charts to this color scheme so you can view it more easily.

If this is good for you, maybe garfield75 would grant permission for me to upload templates for each of the time frames so more people who have color blindness can use the pre-made templates instead of creating them from scratch.

1greyfox
Attached Image (click to enlarge)
Click to Enlarge Name: orid BLUE template.gif Size: 39 KB
  • #218
  • Sep 11, 2013 8:23am Sep 11, 2013 8:23am
Quoting orid
{quote} strange my charts agree with you on all except e /u which still shows all red on 2nd mac last ten bars?
Hi orid.

Would you please post your chart so I can compare with mine?

It could be due to when each broker closes their daily candle and that could account for the difference.

1greyfox
  • #219
  • Sep 11, 2013 8:27am Sep 11, 2013 8:27am
Quoting garfield75
{quote} Cool. EURUSD/USDJPY/EURJPY all three have met the criteria for long setup. USDCHF had 200 MA near entry price.
Yes you are right about USDCHF, but I'm entered anyway because of correlation.

Why you don't apply the EMA to close price?

Thanks
  • #220
  • Sep 11, 2013 8:31am Sep 11, 2013 8:31am
Quoting lucariga
{quote} Yes you are right about USDCHF, but I'm entered anyway because of correlation. Why you don't apply the EMA to close price? Thanks
Good morning lucariga.

I can't answer the ema question but if the correlation you are referring to is with the EUR/USD, and you are long EUR/USD then I do believe you needed to short the USD/CHF instead of taking that long also.

1greyfox
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