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Multi time frame Simple MACD system

  • #561
  • Sep 27, 2013 11:00am Sep 27, 2013 11:00am
good
remember that the first rule (the most difficult) is to respect the rules!

happy weekend
  • #562
  • Sep 27, 2013 12:29pm Sep 27, 2013 12:29pm
Hi everyone.

4 trades for today. I used my trade management style, not garfield75's as outlined on this thread.

CHF/JPY Breakeven + 5 pips
CAD/CHF Breakeven + 5 pips
CAD/JPY + 18 pips Closed trade manually because it is Friday afternoon.
USD/JPY + 26 pips Closed trade manually because it is Friday afternoon.

Have a great weekend everyone!

1greyfox
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2013-09-27_CHFJPY 4H.gif Size: 53 KB
Click to Enlarge Name: 2013-09-27_CADCHF 4H.gif Size: 47 KB
Click to Enlarge Name: 2013-09-27_CADJPY 4H.gif Size: 44 KB
Click to Enlarge Name: 2013-09-27_USDJPY 4H.gif Size: 49 KB
  • #563
  • Sep 28, 2013 12:01am Sep 28, 2013 12:01am
Quoting 1greyfox
Hi everyone. 4 trades for today. I used my trade management style, not garfield75's as outlined on this thread. CHF/JPY Breakeven + 5 pips CAD/CHF Breakeven + 5 pips CAD/JPY + 18 pips Closed trade manually because it is Friday afternoon. USD/JPY + 26 pips Closed trade manually because it is Friday afternoon. Have a great weekend everyone! 1greyfox {image} {image} {image} {image}
Hi 1 Greyfox

Nice looking charts
good explanations too ,
+ 54 Pips good stuff mate all this gives confidence.
Regards Orid
  • #564
  • Sep 28, 2013 5:47am Sep 28, 2013 5:47am
Quoting orid
{quote} Hi 1 Greyfox Nice looking charts good explanations too , + 54 Pips good stuff mate all this gives confidence. Regards Orid
Good morning orid.

Thank you sir. I am happy with the pip count considering these trades were active on Friday. If I didn't manually close the CAD/JPY and USD/JPY the results of those two trades would currently be CAD/JPY still open and the USD/JPY reached the final profit target.

For my peace of mind, I prefer to close out everything on Friday. With the current situations around the world and the market makers gaps on Sundays market re-open we have absolutely no control over those 48 hours, I prefer to have the money sitting inactive in the account for the weekend. Come Monday, we get a fresh look at things and can then re-enter if conditions are met. Capital preservation is the only way we can live to trade another day.

Enjoy the rest of the weekend my friend.

1greyfox
  • #565
  • Sep 28, 2013 5:22pm Sep 28, 2013 5:22pm
Greyfox,

I noticed you missed on one trade by a fraction, because the price did move to your area, but not the bid.

Have you considered paying the fee instead of taking the spread? I've found that my buy and sell go off a lot more, because the spread is about half a pip or less. Which makes me very happy. I hate missing a buy or a sell because it doesn't move a hair further.
  • #566
  • Sep 28, 2013 6:49pm Sep 28, 2013 6:49pm
Hi Orid
Commiserations on the Dockers
  • #567
  • Sep 28, 2013 8:32pm Sep 28, 2013 8:32pm
just thought i let you folks know even on the 4hr the macd indi repaints..
  • #568
  • Sep 28, 2013 10:35pm Sep 28, 2013 10:35pm
Hi everyone
Great thread - MTFA is NUMBER1
May I suggest - that as we are trading an indication of a change in price direction, and intend taking only high probability trades - it may be of benefit to add a simple filter when we have a ranging market

When we have a ranging market our chances of having false signals are greatly increased

A simple filter could be to only take a trade if our MACD signal is confirmed by trading in the immediate trend direction
eg for a long trade we now have higher highs and higher lows (change to line chart for easy recognition), opposite for a short trade

The MACD is great for identifying when a pair is trending - why not just stick with the trade until the MACD suggests the trade is over (slope reverses)?
If you use the 12.26.1 for your entry but feel a bit unsure of using it for an exit, maybe you could use the 5.13.1 for your trade management exit

If your normal trading timeframe is range trading - try switching to a lower timeframe for tradable signals (the lower timeframes build the next higher timeframe chart)

PS My preferred trading system is very similar to the one described here
  • #569
  • Sep 28, 2013 11:54pm Sep 28, 2013 11:54pm
Quoting MeLe
Hi Orid Commiserations on the Dockers
Hi MeLe ,
Thankyou I 'm not a very good supporter,(Fremantle Dockers) I don't attend matches but would have liked to see them win that final .

Good match!

I think they might have if they had got off to a good start.
Where in aus are ya?
Regards Orid
  • #570
  • Edited 3:00am Sep 29, 2013 2:39am | Edited 3:00am
Orid
Hi
Yes the first quarter let them down with their kicks for goal, I am a Eagles supporter.
I live at Collie, half way from Perth to you at Albany. Or maybe you are already in the Penthouse in Perth.
Regards
Barry
  • #571
  • Edited 6:08pm Sep 29, 2013 8:28am | Edited 6:08pm
Quoting Baggi
Greyfox, I noticed you missed on one trade by a fraction, because the price did move to your area, but not the bid. Have you considered paying the fee instead of taking the spread? I've found that my buy and sell go off a lot more, because the spread is about half a pip or less. Which makes me very happy. I hate missing a buy or a sell because it doesn't move a hair further.
Hi Baggi.

I have not thought about it because in my way of trading once I get a trade to a breakeven + a few pips I just let it run to profit target or stop loss. When I lock in a profit, I just move on to look for more opportunities. The idea of having a smaller spread is appealing and if I was more of a scalper it would hold more interest than it does for me now since I trade longer time frame charts.

I appreciate your suggestion and will keep it in mind if I notice the same scenario playing out to often as it did on the CAD/CHF trade from Friday September 27, 2013.

1greyfox
  • #572
  • Edited 10:43am Sep 29, 2013 8:38am | Edited 10:43am
Quoting whatfx
just thought i let you folks know even on the 4hr the macd indi repaints..
Hi whatfx.

Personally, I have never seen an indicator that doesn't repaint on the current candle as they are recalculating the current price action.

Does it repaint after the candle has closed, or just on the current candle? Anyone can paint with a broad brush so please narrow down your statement to make it more applicable to what you are trying to convey to the originator and users of this thread.

Also, which indicator are you referring to? Is it the regular MACD's or the indicator which has the 3 MACD's combined into one indicator?

I see why you status yourself as 'the villain'. You show up, make a broad statement which could cause doubt to the validity of this method to people who are currently using it, without providing charts or anything to support your statement.

1greyfox
  • #573
  • Sep 29, 2013 8:54am Sep 29, 2013 8:54am
Quoting lizpet
Hi everyone Great thread - MTFA is NUMBER1 May I suggest - that as we are trading an indication of a change in price direction, and intend taking only high probability trades - it may be of benefit to add a simple filter when we have a ranging market When we have a ranging market our chances of having false signals are greatly increased A simple filter could be to only take a trade if our MACD signal is confirmed by trading in the immediate trend direction eg for a long trade we now have higher highs and higher lows (change to line chart for easy...
Hi lizpet.

May I ask how long you traded this method before you concluded that your filters are more profitable than the way it is intended to be traded by the thread originator?

Why does it have to be complicated? If in a range draw a simple set of horizontal lines and don't take trades until out of that range situation, or take a trade with caution if there is room for a 1:1 Risk/Reward before reaching the top or bottom of the range.

Just because your preferred trading system is similar does not in fact make it exact to garfield75's method, so it is possible that your suggested 'filters' could cause problems for the users of this method instead of improving it.

1greyfox
  • #574
  • Sep 29, 2013 6:20pm Sep 29, 2013 6:20pm
Hi Garfield75,

Thanx for sharing this system. As a newbie, I'm more comfortable using the MACD than any other indicator. This systems enhances an already good lagging indicator. I successfully added the indicator to my platform but I had trouble with the templates. What software is needed to successfully download the templates to MT4?

Regards,

FXAnnie
  • #575
  • Sep 29, 2013 11:46pm Sep 29, 2013 11:46pm
Dailys going well just moving to BE
Attached Image (click to enlarge)
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  • #576
  • Sep 29, 2013 11:57pm Sep 29, 2013 11:57pm
Quoting FXAnnie
Hi Garfield75, Thanx for sharing this system. As a newbie, I'm more comfortable using the MACD than any other indicator. This systems enhances an already good lagging indicator. I successfully added the indicator to my platform but I had trouble with the templates. What software is needed to successfully download the templates to MT4? Regards, FXAnnie
Hi FX Annie,

Im not the best to answer this new trader also , but ill try. download templates from page 1 no other software needed, also download the macdi color indicator , or just download the macd color indicator and set your own charts, then make sure all the settings are same as the tables also on page 1.
Hope that helps , and if ive not explained very well ,hopefully someone else will chime in and put us both right
Good luck
BTW the templates you put in templates , not indicators incase you didn't know
  • #577
  • Sep 30, 2013 7:08am Sep 30, 2013 7:08am
Quoting 1greyfox
{quote} Hi lizpet. May I ask how long you traded this method before you concluded that your filters are more profitable than the way it is intended to be traded by the thread originator? Why does it have to be complicated? If in a range draw a simple set of horizontal lines and don't take trades until out of that range situation, or take a trade with caution if there is room for a 1:1 Risk/Reward before reaching the top or bottom of the range. Just because your preferred trading system is similar does not in fact make it exact to garfield75's method,...
Hi greyfox

Fair enough
It was just a suggestion. Take it or leave it
Nobody should ever trade without testing to see if it works for them AND it should make sense to them before they even start testing!
Sorry for intruding
Peter
  • #578
  • Sep 30, 2013 8:23am Sep 30, 2013 8:23am
Quoting lizpet
{quote} Hi greyfox Fair enough It was just a suggestion. Take it or leave it Nobody should ever trade without testing to see if it works for them AND it should make sense to them before they even start testing! Sorry for intruding Peter
Hi lizpet.

It isn't a matter of intruding.

You made a post making suggestions on a method you apparently never tried as it is outlined by the originator of the thread.

So, if you are offended because I asked a couple of pertinent questions, so be it.

To make suggestions when you haven't used the method, is like a newbie baker modifying the chemistry of a recipe before they even know how or why the original recipe is designed the way it is. In trading and in baking, blind ignorance of the basic method is not bliss.

1greyfox
  • #579
  • Sep 30, 2013 7:39pm Sep 30, 2013 7:39pm
Morning /evening all,
Getting lonely here , my two dailys ended , one at BE , the other I closed at + 78.

In this 4 hr at mo and a daily at + 23
Regards Orid
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.png Size: 151 KB
  • #580
  • Edited 8:31pm Sep 30, 2013 8:27pm | Edited 8:31pm
Quoting orid
Morning /evening all, Getting lonely here , my two dailys ended , one at BE , the other I closed at + 78. In this 4 hr at mo and a daily at + 23 Regards Orid {image}
Hello my friend.

Nothing wrong with the way those trades ended. BE is better than a loss. +78 is great!

When you move your stop to breakeven, do you set it to BE+0 or do you add something like BE+5, so it earns something?

I am currently in that EUR/CAD myself. I see you already moved the stop up to BE, mine is still in its original place. It will be interesting to see how it plays out because of our different trade management styles. You are by the book and I....well, not so much.

Congrats, keep it up.

1greyfox
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-09-30_EURCAD 4H.gif Size: 43 KB
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