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4 Hour Strategy (MACD)

  • #26,481
  • Dec 19, 2013 1:30am Dec 19, 2013 1:30am
Quoting LifesAbeach
Hi Everyone Here is a trade I took. Got stopped out. Maybe someone can tell me what I did wrong or what I missed. Thanks {image}
Hi and welcome LifesAbeach, nice name my nearest beach is 10 minutes away at Exmouth England.

I am a total novice the real experts have been posting above..

I think your trade set up is neat and tidy and with an understanding but not all the parts of the system in place.

My charts show a different story see attachment

Good luck and keep asking questions its a fast way to learn to ask and answer.

For me its like keeping a journal of my trading but with positive feedback and explanations...
Attached Image (click to enlarge)
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  • #26,482
  • Dec 19, 2013 1:55am Dec 19, 2013 1:55am
Quoting LifesAbeach
Hi Everyone Here is a trade I took. Got stopped out. Maybe someone can tell me what I did wrong or what I missed. Thanks {image}
Hi,

Unfortunately through your misfortune I checked the EJ and then took a live order but sorry it was the opposite side to yourself.

See attachment with reasons.
(just realised i lied on the attachment, my stop loss is not under last low...i thought i had put it there but i am comfortable with it where it is)
on the H1 it is under the previous 2 lows, so if my order completes it will not be touched.

I hope to see you here again as the more the merrier.
Attached Image (click to enlarge)
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  • #26,483
  • Dec 19, 2013 1:59am Dec 19, 2013 1:59am
Quoting trademin
{quote} thanks Binnie, I didn't have the time yet , beside 1.3600, to figure where that pair would be landing!- but what I like the most is to find those HS! amazing hein?- than I am more relax when the pair start moving!- and ,and! I have to say that maybe people kind of getting bored by those HS all the time! and I wonder if I am not getting too far with this! anyway, I just hope that I'm not boring anyone with HS.---I guess it is another way of identifying RT or RB "having history" attached to them!. You have been a very good support to everyone...
Not bored never.....self-deprecation you must be English

Its nice to see how it all works and fits together.

I always thought head and shoulder were low probability but now i can see how they work on change of trends etc...

I really need to work on how to spot these along with 3 sisters which are very much part of the system.

happy days everyone..

thanks
Richard
  • #26,484
  • Edited 3:41am Dec 19, 2013 2:17am | Edited 3:41am
Hi Everybody,

a few weeks ago I post here a message about the combination of the 4H MACD system with Harmonic Elliot Wave (HEW) see post: 26394
In that post I said:
"I find that it gives me the following extra's:
-I have more an idea were to put my SL and my TP (not just the last low/last high, specifik MA or round number. No the projections given me a lot of extra TP/SL info
-I have a better idea where price can stall.
-I can better judge the MACD in combination with the MA's I'm using.
-Finally I can build my trades arround a wave (from beginning of the wave to the end) That means that If my first trade (in the beginning of the wave) is in the right direction. I cover with that trade all the other trades I make in that wave! So if somewhere the wave construction is breaking (it always can happen).... I still can get out without problems."
-Much more confidence in running trades

Well after trading this combination for +/- 1 month I still more then agreed with what I was writing. Again I think it's more then worth watching/learning HEW in combination with the 4H MACD system!!

In the image you see my change in results ... I think that is saying everything.
(My maximum risk was 2-3% risk per trade)

Because it gives me so much confidence and ofcourse also results I will continuing to trade this combination and hope this strike will continuing the next months. Anyway... it's a lot of work and effort!

Best regards,
HappyMe
Attached Image
You can manage risk, but you can't manage the return
  • #26,485
  • Dec 19, 2013 2:23am Dec 19, 2013 2:23am
Quoting HappyMe
Hi Everybody, a few weeks ago I post here a message about the combination of the 4H MACD system with Harmonic Elliot Wave (HEW) see post: 26394 In that post I said: "I find that it gives me the following extra's: -I have more an idea were to put my SL and my TP (not just the last low/last high, specifik MA or round number. No the projections given me a lot of extra TP/SL info -I have a better idea where price can stall. -I can better judge the MACD in combination with the...
I realised that the overview from my account at FXBook is not giving a good view of my results. Because it only gives results per day.... In the next view I give the overview from MT4... here you can see the results per trade... that's a better view I think.

Best regards,
HappyMe
Attached Image
You can manage risk, but you can't manage the return
  • #26,486
  • Dec 19, 2013 4:30am Dec 19, 2013 4:30am
Quoting yaakruay
{quote} Hi and welcome LifesAbeach, nice name my nearest beach is 10 minutes away at Exmouth England. I am a total novice the real experts have been posting above.. I think your trade set up is neat and tidy and with an understanding but not all the parts of the system in place. My charts show a different story see attachment Good luck and keep asking questions its a fast way to learn to ask and answer. For me its like keeping a journal of my trading but with positive feedback and explanations... {image}

Thanks Yaakruay for your explanation. I have a better understanding now. Will post more trades as I go forward. Still busy trying to work through the thread.
  • #26,487
  • Dec 19, 2013 10:06am Dec 19, 2013 10:06am
Quoting yaakruay
Hi Everyone, The charts from my 2 brokers. According to the motion.. If this is top of trend.. Price has broken under the 21 Returned to the 21.. Then will continue down to the 89.. before pulling away in either direction. Now on my charts attached. Has this happened or not..lets see. Price is under the 21 but has tagged it each candle..does this fit the motion or not? We can only wait and find out... (we can also take counter trends once price tags the trendline) So do I follow Arrow and take a short or wait for one more bull surge...what is the...
Hi Richard,

Sorry to take too long to reply. The stop loss I used is putting the SL 10 - 20 pips above/below the previous high or low.
In EU case, I put it at around 1.3850. Note that the post tapering move, EU reach as high as 1.3811 before plunging to 1.3650.

Using the long term view such as daily and weekly pretty much helping me trading during my daily job.
Still learning how to maximize profit, and at the same time minimize risk.

Will learn more about HEW from happy me, and start to see H&S formation thanks to Yvon.
A matter of fact, my EU trade was based on the H&S formation on daily and weekly chart.
Attached Image (click to enlarge)
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Own your own mind.
  • #26,488
  • Dec 19, 2013 10:10am Dec 19, 2013 10:10am
Quoting LifesAbeach
{quote} Thanks Yaakruay for your explanation. I have a better understanding now. Will post more trades as I go forward. Still busy trying to work through the thread.
WELCOME!!

from your chart, I can say that you have done your homework.
Keep up the good work mate
Own your own mind.
  • #26,489
  • Dec 19, 2013 10:35am Dec 19, 2013 10:35am
Quoting LifesAbeach
Hi Everyone Here is a trade I took. Got stopped out. Maybe someone can tell me what I did wrong or what I missed. Thanks {image}
hi, this is my view on it,
have a nice reading,
---I say "driver getting nowhere" because of the example I use in the pdf: analogy with market action.
Attached File(s)
File Type: pdf DRIVER MOVING NOWHERE 2.pdf   208 KB | 459 downloads
Yvon
  • #26,490
  • Dec 19, 2013 10:42am Dec 19, 2013 10:42am
Quoting HappyMe
{quote} I realised that the overview from my account at FXBook is not giving a good view of my results. Because it only gives results per day.... In the next view I give the overview from MT4... here you can see the results per trade... that's a better view I think. Best regards, HappyMe {image}
hi HappyMe,

thanks for showing results, it is working well as I can see.---You are remembering me to find some time to realy take a look at it. Sorry! been busy. I will take time during the "seasons" to start reading about it. thanks again for taking the time to write to us about it,
Yvon
  • #26,491
  • Dec 19, 2013 10:52am Dec 19, 2013 10:52am
Quoting Arrow
{quote} Hi Richard, Sorry to take too long to reply. The stop loss I used is putting the SL 10 - 20 pips above/below the previous high or low. In EU case, I put it at around 1.3850. Note that the post tapering move, EU reach as high as 1.3811 before plunging to 1.3650. Using the long term view such as daily and weekly pretty much helping me trading during my daily job. Still learning how to maximize profit, and at the same time minimize risk. Will learn more about HEW from happy me, and start to see H&S formation thanks to Yvon. A matter of fact,...
hi Arrow, ...you are welcome,
" start to see H&S formation " : beautiful isn't it?
Yvon
  • #26,492
  • Dec 19, 2013 11:02am Dec 19, 2013 11:02am
Quoting yaakruay
{quote} Not bored never.....self-deprecation you must be English Its nice to see how it all works and fits together. I always thought head and shoulder were low probability but now i can see how they work on change of trends etc... I really need to work on how to spot these along with 3 sisters which are very much part of the system. happy days everyone.. thanks Richard
hi yaakruay,

you sure know the way to make me smile! "self-deprecation you must be English"---- Absolutely not ! I am French, Quebec French, pure wool !...almost bilingual..so I almost use the 2 sides of my brain!
thanks for the comments,
Yvon
  • #26,493
  • Dec 19, 2013 12:37pm Dec 19, 2013 12:37pm
Quoting trademin
{quote} hi, this is my view on it, have a nice reading, ---I say "driver getting nowhere" because of the example I use in the pdf: analogy with market action. {image}

This document is awesome... The work involved in making it and answering questions in details is brilliant.

If this was a private trading room it would cost heaps to have an answer laid out like that from a trading tutor.

How to get driving, hitchhiking, fried oil and bacon into a forex trading document and still answer the question is astonishing

thanks too everyone for contributions..

I saw the stop loss thanks Arrow..(i was convinced you were using a weekly chart and 100 - 200 pip stop loss...) nice trading in December..

Trademin, You're almost English coming from Canada hehe...that's why you've got a great sense of humour..

Happy days All..

ps.I closed the EJ order early at 142.40 6th sense made me as price seemed to be stalling... and on the H1 it looked like a great H&S and the right shoulder getting ready for down...... i will watch and see if it forms..
  • #26,494
  • Dec 19, 2013 1:49pm Dec 19, 2013 1:49pm
HEY - ALMOST XMAS:

and our thread is still going strong. Thanks for sharing Yvon. Pity its the last week and getting set to close down.
I am still practising spotting rythym setups and spied this today.
Thru 21 from below, back to it / move away . Back to it / move away again. Big effort to get back to it but fell just short. Stalled between the 8 & 21 which is ok by the rules. See what happens next ??

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  • #26,495
  • Dec 19, 2013 1:52pm Dec 19, 2013 1:52pm
Quoting LifesAbeach
{quote} Thanks Yaakruay for your explanation. I have a better understanding now. Will post more trades as I go forward. Still busy trying to work through the thread.
Greetings Life - welcome aboard. Plenty of time now to practice so feel free to ask any questions and between us all, we will try to help.
( that also applies to you too buddy - you might have something that we can learn from you )
Safe trading .
  • #26,496
  • Dec 19, 2013 3:56pm Dec 19, 2013 3:56pm
Quoting binnie
HEY - ALMOST XMAS: and our thread is still going strong. Thanks for sharing Yvon. Pity its the last week and getting set to close down. I am still practising spotting rythym setups and spied this today. Thru 21 from below, back to it / move away . Back to it / move away again. Big effort to get back to it but fell just short. Stalled between the 8 & 21 which is ok by the rules. See what happens next ?? {image}

Hey Binnie,

Hope all is good for Chrimbo New Year and all that jazz.....

I love your posts and attachments...It was you who gave me the inspiration to start posting and asking questions..

The reason, you make the charts look clean and uncluttered and your posts easy to follow.

The problem is i never think i have anything to add as your analysis is so concise.

How about this...its not from the system but something I have noticed/read.

The large candles that the news made, only show where price was going to go but just gets there rapid rapid..

Which brings me to your trade idea, if this holds true then price will follow your idea and bounce up...So we want nice slow smallish candles moving up...

Its the best I've got...
  • #26,497
  • Dec 19, 2013 6:42pm Dec 19, 2013 6:42pm
Quoting yaakruay
{quote} Hey Binnie, Hope all is good for Chrimbo New Year and all that jazz..... I love your posts and attachments...It was you who gave me the inspiration to start posting and asking questions.. The reason, you make the charts look clean and uncluttered and your posts easy to follow. The problem is i never think i have anything to add as your analysis is so concise. How about this...its not from the system but something I have noticed/read. The large candles that the news made, only show where price was going to go but just gets there rapid rapid.....
You got it Richard - could not have put it better myself.
This will probably not happen at all the way I am anticipating because of the Holidays being upon us but if nothing else, it serves to train our eyes to easily spot the repeating setups & price Actions and then using the Macd to determine if we are correct. A bit like us trying to learn what Yvon has kindly introduced with spotting the H&S (which I must admit he makes look simple LOL
Hope you get some time away my friend - only 25deg here () paradise I say!!
Chat soon guys.
  • #26,498
  • Dec 19, 2013 11:52pm Dec 19, 2013 11:52pm
Quoting trademin
{quote} hi, this is my view on it, have a nice reading, ---I say "driver getting nowhere" because of the example I use in the pdf: analogy with market action. {image}


Thanks everyone for your hospitality. And Trademin for your response. I agree that the MA’s were to flat. And like Yaakruay said the 8&21ema was like spaghetti. I went back in history and looked for better setups. See attachments. Next time wait for price to break out of the consolidation period and pull back. I just need to be patient and practice more. Sometimes I find it difficult to determine a consolidation "block". You make it look so easy. Practice Practice Practice
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  • #26,499
  • Dec 20, 2013 12:49am Dec 20, 2013 12:49am
Quoting binnie
HEY - ALMOST XMAS: and our thread is still going strong. Thanks for sharing Yvon. Pity its the last week and getting set to close down. I am still practising spotting rythym setups and spied this today. Thru 21 from below, back to it / move away . Back to it / move away again. Big effort to get back to it but fell just short. Stalled between the 8 & 21 which is ok by the rules. See what happens next ?? {image}
Hi Binnie the USDCAD looks very good!! Will wait for my TC to form on MACD. (three hours from now)

Here is two other trades that I noticed. See attachments.
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  • #26,500
  • Dec 20, 2013 1:07am Dec 20, 2013 1:07am
Quoting binnie
{quote} You got it Richard - could not have put it better myself. This will probably not happen at all the way I am anticipating because of the Holidays being upon us but if nothing else, it serves to train our eyes to easily spot the repeating setups & price Actions and then using the Macd to determine if we are correct. A bit like us trying to learn what Yvon has kindly introduced with spotting the H&S (which I must admit he makes look simple LOL Hope you get some time away my friend - only 25deg here () paradise I say!! Chat soon guys.


Quote
only 25deg here () paradise I say

I have nothing to say too you, horrible person...It's only 2.5 degrees here this morning...grrrr

I am seeing head and shoulders everywhere, some not working some working, BUT I am seeing them on the chart which is the beginning.
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