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4 Hour Strategy (MACD)

  • #26,241
  • Oct 30, 2013 3:20pm Oct 30, 2013 3:20pm
Quoting yaakruay
How not to trade I went for the CT trade this morning before i went to work. Target 21... But price went up a little and then what i call bonkers down... Fatal mistake of novice trader... I saw my trade losing and yes, you guessed it kept moving my stop loss So, now i am stuck in a trade losing 50 pips and not wanting to take another trade until this one finishes.... but now my stop loss is 100 pips This is how not too trade...perfect example.. This is a learning curve..just wanted to share my experiences... We may get...
Hi Richard,
Sorry you got in this position buddy & thanks for sharing what you are going through. Even though it might be only a very small loss in $ terms , it still hurts. I only want to add my take on your trade so please accept this as friendly advice & not as a critique .

Your chart shows a Macd that looks a lot like a piano . In the last few bars we see green- red- green - red - green and I am guessing that because this last Green bar gave you an obvious Higher Low, you have taken that one as your trigger or confirmation to enter.
You are stuck in limbo at the moment and for what its worth , I would take my medicine now and that way you will remember this particular trade for a long time to come. As I write this, I see price moving back in your direction so a loss now is not so bad. Frame a snapshot of it for your wall. If you wait this one out, hoping & praying for a retrace and it does come, and you end up with a small profit even, you will soon forget the lesson about chasing trades and moving Stops.

I am quietly watching here for the chance to get back in Short. If Price can close below the 200 in an hour or so, the Macdwill give me the Trigger. Projections will be target the next BRN at 0.9400 which is also the 365ma. Stop just above the 0.9500.
Good trading mate - hope it turns out ok.

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  • #26,242
  • Oct 30, 2013 4:28pm Oct 30, 2013 4:28pm
Quoting binnie
{quote} Hi Richard, Sorry you got in this position buddy & thanks for sharing what you are going through. Even though it might be only a very small loss in $ terms , it still hurts. I only want to add my take on your trade so please accept this as friendly advice & not as a critique . Your chart shows a Macd that looks a lot like a piano . In the last few bars we see green- red- green - red - green and I am guessing that because this last Green bar gave you an obvious Higher Low, you have taken that one as your trigger or confirmation to enter....

I do not take anything personally if it's for development...This is the reason i put the trade on here for analysis and discussion.

Not so a load of people could show off and say this that and the other but to see what respectful smart people like yourself had to say....

Another brick in the wall you have given me.....twice you have mentioned the piano keys of the Macd and now I have learnt to watch for that..
(until i read your post and then flicked back to my charts I hadn't even noticed the piano keys..i swear it was a nice RB macd...with 4 red bars and 1 green)haha

(this is why i trade live because the value of losing a little of my money hurts so much more than trading 1 million fake money..no pain)

If more people put their charts up here it would really move things along for learning.....IMHO.....

Come on peeps start posting charts and trades.....

Cheers
Richard...
  • #26,243
  • Oct 30, 2013 5:28pm Oct 30, 2013 5:28pm
Quoting yaakruay
{quote} I do not take anything personally if it's for development...This is the reason i put the trade on here for analysis and discussion. Not so a load of people could show off and say this that and the other but to see what respectful smart people like yourself had to say.... Another brick in the wall you have given me.....twice you have mentioned the piano keys of the Macd and now I have learnt to watch for that.. (until i read your post and then flicked back to my charts I hadn't even noticed the piano keys..i swear it was a nice RB macd...with...
Yep thanks Richard - we are here to help each other by our experiences
I agree with you that it would be great for more readers to start posting. Sharing is Caring
Buddy I have got a trigger on the UJ.
Lets see where this wants to take me

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  • #26,244
  • Oct 31, 2013 2:30am Oct 31, 2013 2:30am
I kept my trade open during my night time.....damn it came back to break even....but did not take my take profit out...i moved that to within 20 pips..bugger..

Still losing but have moved stop loss under last large candle...risk reward is stupid and back to front...50 pip SL 20 TP...idjut I am.

I have put my UJ chart on but have just added on my chart a nice trend line from Daily..looks like a triangle break out and the top trend line
meets the BRN, 21, 89 and 200...looks like a soild base for support and a nice bounce up...(missed this when i did my charts for the forum)

I am not sure if my charts show a trigger or not....not because I am looking back in history and being a genius but because i cannot read them as good as you.

Is my 2nd green line on the macd after the fake first RT is that a trigger or not?

I do like the look of the set up happening now though...price has moved down into a nice looking support area and back to the 8..
I need to wait for a green bar on macd ?

Can you check my charts and see what you think....

ps...i know you're in the red and it hurts...is it on your live account?
Does trading make you religious...keep the faith
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  • #26,245
  • Nov 1, 2013 1:50am Nov 1, 2013 1:50am
My chart and trading Thursday.

Because I had got myself involved in a stupid trade it span my mind.

I managed to close it break even with a couple of pips profit but i had gone over 60 pips into my stop loss...crazy situation and learnt from it..

But because the trade had span me out i couldn't focus and totally missed the real trade I had been waiting for....duh !

Price up to 21 and top TL
Macd on a zero bounce (if other members can correct me or confirm this, please)


Not on my charts but there seems to be some divergence from the macd and price making 3 bottoms on PA and 3 Round Bottoms on the macd..

Does this tell us something? Is there a change of trend coming? will macd cross into bull territory? lets wait and see...its Friday so no trading for me...
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  • #26,246
  • Nov 1, 2013 10:31am Nov 1, 2013 10:31am
Yup,

I think it is a nice TC pattern. More importantly, the price move along with the EMAs.
The USD is showing its strength against major currencies.

3 round bottom both and PA and MACD meant nothing without a clear breakout above ema 21 and 89.
Let the market shows its rhythm, and flow with it

This is GBPUSD 4H MACD (I think it move altogether with AUD or Kiwi)


http://2.bp.blogspot.com/obAW2vwK9S7...=w1037-h524-no
Own your own mind.
  • #26,247
  • Edited 9:27pm Nov 1, 2013 8:56pm | Edited 9:27pm
Nood question: Can someone tell me the names of the indicators used to draw the EMA and SMA trendlines, please?
All the EMAs indicators that I've found and used are drawing arrows, nothing like the screeenshots here.
Thank you.

PS If it is this indicator http://codebase.mql4.com/260 please tell me how to set it. Do I have to add it 5 times, so it will display all the EMAs, SMAs etc (8, 21, 365...)? Where do I add these values, in the Period, Shift or Method field? How to set it correctly to display the lines and so on. Thanks again.
Attached Image
Using the RobotFX EAs for a while https://www.robotfx.org/
  • #26,248
  • Nov 2, 2013 8:24pm Nov 2, 2013 8:24pm
Hi Wattaman,

Welcome to the thread. Hope you find a home to learn about a strategy that works.

Regarding the EMA and SMA we use the basic indicator provided by the MT4 (or any charting software)
Try to find it under the Insert tab

Insert > Indicator > Trend > Moving Average

As how to set it, the answer is YES. You have to add it manually so it will display all the MAs
The periods for EMA (method: exponential) are 8, 21 and 365. Just put '0' for the shift field.
The Periods for SMA (method: simple) are 89 and 200.

After doing this, your chart should show 5 different MAs.

I hope this explanation answers your question = )
Own your own mind.
  • #26,249
  • Edited 2:09am Nov 3, 2013 1:50am | Edited 2:09am
Quoting wattaman
Nood question: Can someone tell me the names of the indicators used to draw the EMA and SMA trendlines, please? All the EMAs indicators that I've found and used are drawing arrows, nothing like the screeenshots here. Thank you. PS If it is this indicator http://codebase.mql4.com/260 please tell me how to set it. Do I have to add it 5 times, so it will display all the EMAs, SMAs etc (8, 21, 365...)? Where do I add these values, in the Period, Shift or Method field? How to set it correctly to display the lines and so on. Thanks again. {image}...

Hi and welcome,

(the upload is a screenshot for you to show you how to plot and change the moving averages (you are calling trendlines)
you don't need to install the moving averages, they are already in the indicators in MT4... see screenshot

The screenshots are created by a free program named Jing...free download free to use.

It's really easy and simple too.

Any more questions fire away....

I also find its a nice way for me to make a trade plan for my own ideas.

Good luck... a
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  • #26,250
  • Nov 3, 2013 4:51am Nov 3, 2013 4:51am
Thanks for the welcoming and the help, guys. It is all clear now, I'm already testing now.
Regards...
Using the RobotFX EAs for a while https://www.robotfx.org/
  • #26,251
  • Nov 3, 2013 12:40pm Nov 3, 2013 12:40pm
Quoting Arrow
Yup, I think it is a nice TC pattern. More importantly, the price move along with the EMAs. The USD is showing its strength against major currencies. 3 round bottom both and PA and MACD meant nothing without a clear breakout above ema 21 and 89. Let the market shows its rhythm, and flow with it This is GBPUSD 4H MACD (I think it move altogether with AUD or Kiwi) {image}

Philip talks about price getting stuck between moving averages.
The price is now between 365 (just above) and the 200 which is near the 89.

Maybe a round bottom to be formed on macd and retrace coming?

Nice trade by the way..... price hit your target....awesome..
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  • #26,252
  • Nov 3, 2013 1:04pm Nov 3, 2013 1:04pm
My charts seem to be showing me a retracement is coming... (maybe)

Eur/Usd

Price can bounce up from the 365 (i marked it as 200 on my chart upload)

A nice round bottom forming.. no piano keys (thanks Binnie) for that insight. 3 red bars down.

This is what i am looking for this week..

Counter trend back
to BRN 1.3600
to 200
to 21

Macd should be at least 3 nice green bars up for a good round bottom counter trend...

lets wait and see what say you????
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  • #26,253
  • Nov 4, 2013 6:59pm Nov 4, 2013 6:59pm
Quoting yaakruay
My charts seem to be showing me a retracement is coming... (maybe) Eur/Usd Price can bounce up from the 365 (i marked it as 200 on my chart upload) A nice round bottom forming.. no piano keys (thanks Binnie) for that insight. 3 red bars down. This is what i am looking for this week.. Counter trend back to BRN 1.3600 to 200 to 21 Macd should be at least 3 nice green bars up for a good round bottom counter trend... lets wait and see what say you???? {image}
hi Richard ,

I couldn't agree with you more.
Should have seen this coming, I forgot to plot EMA 365 in my previous chart.

A nice round bottom indeed, and it also shows RT in the USD index (attach.)
The market is moving in a healthy direction.
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Own your own mind.
  • #26,254
  • Nov 5, 2013 1:37am Nov 5, 2013 1:37am
can someone please upload the template

what set of ma you are using with this strategy ???

is there a summary for the terms&conditions for this strategy ???

thanks in advance
  • #26,255
  • Nov 5, 2013 2:03am Nov 5, 2013 2:03am
Quoting Arrow
{quote} hi Richard , I couldn't agree with you more. Should have seen this coming, I forgot to plot EMA 365 in my previous chart. A nice round bottom indeed, and it also shows RT in the USD index (attach.) The market is moving in a healthy direction. {image} {image}
I like how you check the USD index for a mirror image or divergence etc.... How reliable do you find it and it is really helpful to you in analysis..

That long hammer tail would have stopped me out if i had of taken that RB on the open of the 2nd green bar up....

(On the daily at a quick glance a nice RB is forming so one more day of consolidation we may get the move up)

BUT..this is the H4 so..

I have no idea which way to go...because we could get a nice trigger for a CT move if we get a red bar on candle closed...agreed anyone?
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  • #26,256
  • Nov 5, 2013 8:31am Nov 5, 2013 8:31am
Quoting khalidhassan
can someone please upload the template what set of ma you are using with this strategy ??? is there a summary for the terms&conditions for this strategy ??? thanks in advance

hi there,

go to post 25280, go take a look there. it is important to know the strategy, the rhythm, how the price react to the ma,
have a nice day,
Yvon
  • #26,257
  • Nov 5, 2013 10:26am Nov 5, 2013 10:26am
Quoting yaakruay
{quote} I like how you check the USD index for a mirror image or divergence etc.... How reliable do you find it and it is really helpful to you in analysis.. That long hammer tail would have stopped me out if i had of taken that RB on the open of the 2nd green bar up.... (On the daily at a quick glance a nice RB is forming so one more day of consolidation we may get the move up) BUT..this is the H4 so.. I have no idea which way to go...because we could get a nice trigger for a CT move if we get a red bar on candle closed...agreed anyone? {image}...
Hi,

GU trying to reach SMA 200 in H4.
This is the view on the daily chart. A strong resistance around the trendline (1.6120).
The price may retest and go higher, or fall down.

Remember that there will be BoE rate decision this week.
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Own your own mind.
  • #26,258
  • Nov 5, 2013 10:40am Nov 5, 2013 10:40am
@khalidhassan

Welcome!
Please familiarize yourself with the strategy, set-up, download and read the main pdf file on the first page.
Own your own mind.
  • #26,259
  • Nov 5, 2013 10:22pm Nov 5, 2013 10:22pm
Hi everyone,

Appreciate your comment on this posting. Thanks.
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  • #26,260
  • Edited 12:06pm Nov 6, 2013 1:49am | Edited 12:06pm
Quoting Fuiyong
Hi everyone, Appreciate your comment on this posting. Thanks. {image}
My basic analysis..

Yesterday I was watching this trade develop (obviously did not know it would happen) just guessing whats coming.

Macd had made its RB and then had moved up to the 15 line and looked like it was making a lower high (PA was making a double bottom 2nd low).

On my chart it is two red bars...you cannot sell here as no trigger as the macd is showing bullish pressure...making a lower high. IMHO

I wanted to take a CT trade here but could not wait up till close of the 8pm-midnight candle...which turned green.

This would have been my trigger..

There was a little red spinner, doji like candle which was the green trigger on the macd...

This trade then showed up on your 1 hour as a large (ish) fast move...but it was there on the 4 hour just waiting to be played

Just to show i am not trying to be a smart ass in hindsight...check my previous posts out..I put an arrow on the macd down as i thought this more likely but that projected down movement only turned into a lower high...

If we look at the macd there (on my previous post what can happen? continues up/down...lower high... are there anymore patterns? i don't know... anyone else?

Hope this helps and lets see what other people have to say..
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