Dislikedhi phil thank for your post but is possible know the time frame of yourgraphics of your trades? i don't replicate them in my graphics to konw the patterns thanksIgnored
Regards
Phillip
4 Hour Strategy (MACD)
AT FREEDOMSEEKE: Hi Theo, sorry mate - I did promise to get back to your questions . Apologies for taking so long. Going out with the youngsters in my family is hard work now. The body ain't so forgiving anymore. The question of ZeroBounce: You already know how this forms and have a pretty good idea of the visual display as price pulls back down towards the Zeroline. For price then turn completely away from that direction indicates some momentum & strength. That will (as far as I am aware and I stand to be corrected ) show a contrasting...
Thank you soooo much for taking the time to answer my question. I have gone through most of Philllis post. The MP3 had made it quite easy and fun. For now I will practice on TC.
Thank you. And have a week FULL OF PIPS.
Theo
Hello all...
Thought I would take a moment and officially switch from "lurker" to "poster." My name is Dave and I'm a rookie trader from the States, still on my first demo account and always learning. I stumbled upon forex about three weeks ago when searching for some information about different investments. Phillip's 4-hour MACD strategy was referenced at another website in a thread about whether forex traders can actually make money on a consistent basis. I have to admit, at first I was totally skeptical about both the forex market itself, and any claims that one particular "system" can reliably produce 300-500 pips a month. Three weeks later, I have devoured every bit of information I can get my hands on... Steve Nison Candlestick videos, Forex eBooks, websites like forex4noobs and babypips, and, of course, the bulk of the information referenced in the table of contents of this thread, and I have to say that I am now a believer in both forex AND Phillip's system.
I have been making TONS of mistakes with my demo account (some on purpose, but most through pure trial and error) so I can learn as much as I can about what NOT to do before I put real money in the market. My fianceé is totally sick of me talking about forex and is still pretty skeptical that anyone can really make money doing this. My best friend is slowly being converted into a believer. I feel like at this point I would tell a stranger I'm sharing an elevator with about this great investment opportunity and sound like an idiot.
My eventual goal, as I don't currently have what most would refer to as a "career," is to become a full-time forex trader. A lofty goal, I know, but a journey of a thousand miles begins with a single step, right? I would like to slowly build an account, putting a little more money in each month, getting a little better at trading with each mistake, and someday be able to walk into my job and quit knowing that I can support my family with the money and knowledge I have earned. I look forward to getting to know everyone in this thread, and appreciate any advice you can give.
Thought I would take a moment and officially switch from "lurker" to "poster." My name is Dave and I'm a rookie trader from the States, still on my first demo account and always learning. I stumbled upon forex about three weeks ago when searching for some information about different investments. Phillip's 4-hour MACD strategy was referenced at another website in a thread about whether forex traders can actually make money on a consistent basis. I have to admit, at first I was totally skeptical about both the forex market itself, and any claims that one particular "system" can reliably produce 300-500 pips a month. Three weeks later, I have devoured every bit of information I can get my hands on... Steve Nison Candlestick videos, Forex eBooks, websites like forex4noobs and babypips, and, of course, the bulk of the information referenced in the table of contents of this thread, and I have to say that I am now a believer in both forex AND Phillip's system.
I have been making TONS of mistakes with my demo account (some on purpose, but most through pure trial and error) so I can learn as much as I can about what NOT to do before I put real money in the market. My fianceé is totally sick of me talking about forex and is still pretty skeptical that anyone can really make money doing this. My best friend is slowly being converted into a believer. I feel like at this point I would tell a stranger I'm sharing an elevator with about this great investment opportunity and sound like an idiot.
My eventual goal, as I don't currently have what most would refer to as a "career," is to become a full-time forex trader. A lofty goal, I know, but a journey of a thousand miles begins with a single step, right? I would like to slowly build an account, putting a little more money in each month, getting a little better at trading with each mistake, and someday be able to walk into my job and quit knowing that I can support my family with the money and knowledge I have earned. I look forward to getting to know everyone in this thread, and appreciate any advice you can give.
( this space reserved for something clever )
- #26,971
- Feb 16, 2014 7:54pm Feb 16, 2014 7:54pm
Hello all... Thought I would take a moment and officially switch from "lurker" to "poster." My name is Dave and I'm a rookie trader from the States, still on my first demo account and always learning. I stumbled upon forex about three weeks ago when searching for some information about different investments. Phillip's 4-hour MACD strategy was referenced at another website in a thread about whether forex traders can actually make money on a consistent basis. I have to admit, at first I was totally skeptical about both the forex market itself, and...
- #26,972
- Feb 16, 2014 8:39pm Feb 16, 2014 8:39pm
Thanks will try to download again.. My take on EU for coming week What I'm watching. Macd for any green bars going up for a TC. Macd red bars going down (no trade until a break and close under 21ma) Price moving towards 8/21 ma Small candles now and lets see where they take us {image}
My chart has given me the TC Trigger for a long. I have put a 40 pip stop in to give it a chance to breathe. The next level of resistance is expected at the BRN 1.3800 - after that is the Weekly T/Line at 1.3900. GO GO GO
The Kiwi is looking similar but I opted for this pair because the Kiwi is moving into a big Psychological level at 0.8400. Too dangerous I Say
{quote} Welcome Dave, It's a long long long road and welcome aboard, a thread on a forum on the internet doesn't last for over 5 years or more if there is no substance. Fact. This system works and will give you pips but its a long process and you're doing all the right things.... So ask away with any questions.... Please post charts and ideas, free software to show charts is called "jing" as in my previous post.
{quote} Welcome aboard Dave. Yaakruay has said it all buddy. Start on Page 1 of Phillips posts and work through them all thoroughly. At first you need to concentrate on all things Rythym and H4 Macd. Once you have a good grasp on these, then you will be able to follow the H1 and other types of trades. But please remember - trade the TC signals and avoid the CT's at all costs until you know what you are in for. If in doubt, always post your chart & ideas and someone here will help out with a comment or two
As a complete noob, I thought I would share what I have learned so far, thankfully with demo money and not the real thing. Maybe you can tell me if I'm getting the right idea, and if not, set me straight:
1) Stay off the one minute charts. They don't tell you anything about the trend.
2) Counter-trend is not your friend. There's plenty of pips to be made in TC's.
3) 1-2 trades a week at the exact right time is way better than any number of trades at the wrong time.
4) Avoid the market during the first and last candles of the week and around big news.
5) Make a move, then let it happen. Celebrate the successes, learn from the losses.
That's it so far... good luck to everyone and happy trading! I'll get some charts posted later tonight or early tomorrow morning with stuff that I see developing. I did go ahead and go long on the Kiwi after the second candle opened up confirming the TC upward with a stop loss just below the shadow of the week-opening candle and a take profit at the January 14th high close of .8408, with a 10-pip trailing stop. I've got my fingers crossed, and I'm gonna force myself to keep my fingers off the eject button and just let this trade happen so I can either profit or learn.
( this space reserved for something clever )
- #26,975
- Feb 17, 2014 12:28am Feb 17, 2014 12:28am
{quote} Hey there Richard, My chart has given me the TC Trigger for a long. I have put a 40 pip stop in to give it a chance to breathe. The next level of resistance is expected at the BRN 1.3800 - after that is the Weekly T/Line at 1.3900. GO GO GO
Morning,
This monster called forex trading is waking me up at 5 am Monday morning so I can check charts and post here before leaving for my real job....I'm in bed checking the charts on my phone, the wife isn't happy, it's like I've got a mistress in the same bed.
Binnie,
Here's my chart..I am sure the EU will be bullish again and move to the 1.38 area it's just a matter of when.
But I am shy of it, as that wash and rinse or previous RB really hurt me, it took me out both sides as was the intention. to take novice traders out..it worked..
I just don't like the look of it, it looks so easy to be bullish...where is the nice slow pullback down to the 8 or 21 ready for take off?
I wish you luck and want it to go higher and i will enter on the next pullback, but for now i am waiting
(i have a trade running on the UJ and would like to see that closed first before starting a new one)
edit
(macd has turned green again (2 green bars) i just want to see how that candle closes)
- #26,976
- Feb 17, 2014 1:22am Feb 17, 2014 1:22am
{quote} Hi FW. Don't know if you are aware of it but you've got the 200ema(yellow line) and not the 200sma on your chart.
- #26,977
- Feb 17, 2014 1:27am Feb 17, 2014 1:27am
{quote} Bloody 'ell LaB... How did you spot that..........200 ema / sma... well done, it does make a difference i tried both.... Freewill = FW This is my take on the chart. I think it's hit a resistance area. Look at daily, nice place for a retrace if price will continue up.. plus there is a resistance line that can be drawn near this price to stop it. Macd is showing bearish divergence, each move up has less power. So what are we waiting for? Retrace on H4.. red bars on macd, going under zero would be good. Then some sort of BPM....Breakout, Pullback...
moved exactly like you said. I entered long at 170.07.
- #26,978
- Feb 17, 2014 1:28am Feb 17, 2014 1:28am
{quote} Did you get in the GJ - FW ? Looks promising. Even if you did not want to play the H4 with the piano keyboard TC , there was good opportunity to move down to the H1 for an entry. Well spotted. Good luck if you are in here. 1st trouble level looks like BRN 171.00 then next recent highs at 171.40 . {image} And the GU also looked good for an entry by the TC Rules. These highs not seen for a long time. IMHO the possible level of resistance ahead could come from the Monthly 89ma around 1.6850. Lets see what happens next.{image}
- #26,979
- Feb 17, 2014 1:45am Feb 17, 2014 1:45am
{quote} Riding at +60 pips currently....
The 8 ma is running the show ( the Pace ) and looks like it might continue to do so. I see some Yen news coming later tonite/tomorrow so watch for any sudden moves. How are you playing your stoploss on this one - your money management is just as ( if not more ) important as the trade itself.
We're on your side buddy. Go get them pips
- #26,980
- Feb 17, 2014 2:43am Feb 17, 2014 2:43am
{quote} Well done FW, The 8 ma is running the show ( the Pace ) and looks like it might continue to do so. I see some Yen news coming later tonite/tomorrow so watch for any sudden moves. How are you playing your stoploss on this one - your money management is just as ( if not more ) important as the trade itself. We're on your side buddy. Go get them pips