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4 Hour Strategy (MACD)

  • #27,021
  • Feb 20, 2014 12:27pm Feb 20, 2014 12:27pm
EU SETUP:

The H&S setup looking good to me. We have had the BPM at the neckline but I am not too keen on those wicks. I am looking to play safe here so if I can get an entry just under the lowest wick, there is a potential 60 pips to the 89.

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  • #27,022
  • Feb 20, 2014 1:19pm Feb 20, 2014 1:19pm
RIGHT - ALL YOU GOLD DIGGERS

I realise its Near end of week but this is for spotting rythym more than entering a trade.

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  • #27,023
  • Feb 20, 2014 1:38pm Feb 20, 2014 1:38pm
Hey Guys - we gone quiet all of a sudden. You all on holiday??


Hope this Kiwi chart can be put to good use by everyone not sure how the Macd H4 method works. Exactly as we have been taught.
Enjoy

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  • #27,024
  • Feb 20, 2014 1:42pm Feb 20, 2014 1:42pm
Hey guys

I'm moving to a different apartment so will be a bit quiet for the next two weeks before they come and install my internet. Been using my mobile internet. Internet providers here in South Africa are terrible. Probably the worst in the world.
  • #27,025
  • Feb 20, 2014 1:44pm Feb 20, 2014 1:44pm
Quoting freedomseeke
I want to know if anybody is using the position calculator found in Post 9147. How / where do you get the values in the Cells B1 - B7 or they are constant values. Thank you.
Still have to read through the posts but spotted the spreadsheet calculator question. Here are my comments. I might be totally wrong. Use at own risk.
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  • #27,026
  • Feb 20, 2014 4:45pm Feb 20, 2014 4:45pm
Quoting binnie
Hey Guys - we gone quiet all of a sudden. You all on holiday?? Hope this Kiwi chart can be put to good use by everyone not sure how the Macd H4 method works. Exactly as we have been taught. Enjoy {image}

My take on Gold..not trading it as 5 pip spread.... I'm too tight for that Mr.

I see consolidation and it could go either way...I think it looks like it wants to go up...so it's a sure sign that a fast violent drop will happen...IMHO.



Binnie, that is perfect on the Kiwi, on my charts and broker it's as clear as daylight too.... I'm going to print that out and stick it under my eyelids whilst sleeping and burnt into my brain...

The posts are piling up now...its great people are asking questions and posting charts...its such an easy way to learn....

happy pippin all...
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  • #27,027
  • Feb 20, 2014 6:51pm Feb 20, 2014 6:51pm
Quoting LifesAbeach
{quote} Still have to read through the posts but spotted the spreadsheet calculator question. Here are my comments. I might be totally wrong. Use at own risk. {image} {image}
Thank you. I think it now makes sense removing 10 from the formula because am trading mini lots.
  • #27,028
  • Feb 20, 2014 9:40pm Feb 20, 2014 9:40pm
Quoting binnie
I was trying to get this done for you before I left for work but Internet went down. Thought I would post it anyway. Just check right now, there is a TC on my Macd but price did not make it back close enough to the 21 for me. Still watching
Thanks for looking at my chart. All in all, everyone has been very welcoming and tolerant of a noob like myself. I told my fianceé I felt accepted on the Forex Factory forum, and she was like "what is that, some kind of cult?"

I did try to get into that trade later in the day but went long on it way late and ended up getting out for a tiny loss. I should have anticipated that it would bounce off of the 89 again and went short. Or, better yet, actually WAIT for it to bounce and catch the wave like I'm supposed to. That's one of the things I'm still struggling with... patience. I'm generally pretty patient in most other things in life, but when it comes to "money" things I find it hard to sit and wait. I executed that trade the other day thinking to myself "this is against the rules, but..." and sure enough it turned out to be a bad trade. The psychology of trading is an interesting thing. Part of me wants to keep demoing until I'm 100% positive I can make money, but the other part of me feels like I'll never stop executing stupid trades that I know in my heard I shouldn't be involved in until real money is on the line. This guy I work with that used to be a full-time stock trader says I need to just throw in some small money that I can afford to lose right now so I can really learn from my mistakes, but then again, if he was as successful as he claims he was, he wouldn't be answering phones for a living, would he? I'd love to get more input on this from both sides of the fence (both demo and "real" traders).

I did end up executing two other trades that were in line with the rules and made a 1.3% profit on my demo account including the small loss. When I have more time I'll post some details for critique.
( this space reserved for something clever )
  • #27,029
  • Feb 21, 2014 1:05am Feb 21, 2014 1:05am
Quoting dodge_aries
{quote} Thanks for looking at my chart. All in all, everyone has been very welcoming and tolerant of a noob like myself. I told my fianceé I felt accepted on the Forex Factory forum, and she was like "what is that, some kind of cult?" I did try to get into that trade later in the day but went long on it way late and ended up getting out for a tiny loss. I should have anticipated that it would bounce off of the 89 again and went short. Or, better yet, actually WAIT for it to bounce and catch the wave like I'm supposed to. That's one of the...

I trade real money as it took me about a 1 month to realise I couldn't demo trade as i had no feeling and wasn't paying attention to entries, stop losses or set ups. Now I realise that it was because I didn't have the knowledge to do any of these things properly.

Especially patience, I was thinking to myself how can i wait 4 hours or a day to see how the charts set up, that's money gone I could have had....

I trade mini lots for 10 pence per pip usually, i have done £1 per pip and was building nicely on 20 pence per pip and then had a bad run...over confident and not using the system correctly, so i am back to 10 pence per pip. This is after 3 years. What you realise after a while is it doesn't matter the value of money per pip, if you cannot make money at 10p per pip well you cannot make money at a £1 per pip, you just lose/win more each trade. I broke even last year and expect to do better this year.

That's my story....forex is no get rich scheme for sure....... have all the posters who have participated in this thread from the beginning, where are they now?

I can guarantee they are not on their own tropical island trading forex each day...No sir....

But I believe you can make money and most probably trade for a living(maybe), but i think it should be seen as a reserve and a top up to a salary. The pressure of trading for your salary would be too much and things would go wrong...look at all the bankers who have lost millions/billions making bad trades and these are professionally trained with the latest computer systems... Not on mt4 with a few moving averages.

As i remember you get into a mind set of i want it all and i want it now and how nice it will be do this from home everyday... Not reality my friend.

It's a good question you have asked on here, you could also tag on, how long people have been trading, I don't think you will like the answers though.

Question.

People trading demo or real money and for how long?

Me, real money, 3 years. (break even) (no way could i trade full time yet, i have a normal job)

I treat it like a university course, it takes 3 - 4 years full time studying then you get a job in your chosen career at the bottom...i feel like trading takes a similar route and time.

Hope this answers your questions but don't be put it off, if its negative..its my reality ! haha...but it takes time and a lot of time and studying.
  • #27,030
  • Feb 21, 2014 1:09am Feb 21, 2014 1:09am
Quoting LifesAbeach
Hey guys I'm moving to a different apartment so will be a bit quiet for the next two weeks before they come and install my internet. Been using my mobile internet. Internet providers here in South Africa are terrible. Probably the worst in the world.

We're waiting for your clean charts and set ups....

Mobile trading is good but bad, i sat in a a coffee shop the other day trading on my phone, i was up on a trade and then boom...or rather bust !...

I went from inwardly gloating(this coffee is costing me nothing and i'm making money) to inwardly dying (aaah best get my wallet out and use the cash from my normal job) in the space of a minute...


Happy days for your new digs.
  • #27,031
  • Feb 21, 2014 9:52am Feb 21, 2014 9:52am
Quoting yaakruay
{quote} I trade real money as it took me about a 1 month to realise I couldn't demo trade as i had no feeling and wasn't paying attention to entries, stop losses or set ups. Now I realise that it was because I didn't have the knowledge to do any of these things properly. Especially patience, I was thinking to myself how can i wait 4 hours or a day to see how the charts set up, that's money gone I could have had.... I trade mini lots for 10 pence per pip usually, i have done £1 per pip and was building nicely on 20 pence per pip and then had a bad...


You have the right approach and will make money on the long run. If you can be break even after 3 years on live money you will grow from there and start making money. The key from now on is patience. Let the market tells you when to pull the trigger..
Regards
  • #27,032
  • Feb 21, 2014 10:08am Feb 21, 2014 10:08am
Hi. Here is the 2 weeks trading(high risk trading) just to prove to those ones that it can be done.
Phillip
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File Type: zip Statement.zip   10 KB | 839 downloads
  • #27,033
  • Feb 22, 2014 3:06am Feb 22, 2014 3:06am
Hey Binnie don't know if you remember my losing trade on post 26 941 but I spotted a similar situation while backtesting this weeks charts.

Something to look out for in the future.
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  • #27,034
  • Feb 22, 2014 3:11am Feb 22, 2014 3:11am
Quoting Phillip Nel
{quote} You have the right approach and will make money on the long run. If you can be break even after 3 years on live money you will grow from there and start making money. The key from now on is patience. Let the market tells you when to pull the trigger.. Regards

Thanks for the feedback, and all the help and inspiration you give to us all.

I can feel I am just about to evolve as a learned beginner to the next level as I am now watching the daily and weekly time frames to get the movement of the market and be able to let trades run and also watch the set ups appear.
  • #27,035
  • Feb 22, 2014 3:27am Feb 22, 2014 3:27am
Quoting LifesAbeach
Hey Binnie don't know if you remember my losing trade on post 26 941 but I spotted a similar situation while backtesting this weeks charts. Something to look out for in the future. {image} {image}

That small RB into the macd i have seen that happen a lot but on smaller time frames, that is a movement I spotted this week.
(it caught me a few times on the m5 and i took the trade and it turned around, it only takes a few losers to remember)

A fake or look a like change of trend.
  • #27,036
  • Feb 24, 2014 10:25am Feb 24, 2014 10:25am
Anyone take any trades today?

I didn't see any nice setups.
  • #27,037
  • Feb 24, 2014 12:57pm Feb 24, 2014 12:57pm
Quoting LifesAbeach
Anyone take any trades today? I didn't see any nice setups.
Nothing my end Lifer - will have a quick look now before work & post anything interesting. Had a great weekend though - went to a 60th birthday & had a few beers, bourbons & wines. All with family so neat to catch up. Back to reality today though until Friday - we go to Auckland to see Bruce Springsteen.
Catch you guys soon.
  • #27,038
  • Feb 24, 2014 1:27pm Feb 24, 2014 1:27pm
AUSSIE WATCH:

This is the only one that looks like giving me a setup today. Probably at work when it does though

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For those guys who can jump down to the H1 charts, I think there was a possible entry a few hours ago. Looking at the Breakout Candle through the H4 21, there is an entry on the Hourly at the close above that level.

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Any comments - for or against ??
  • #27,039
  • Feb 24, 2014 3:48pm Feb 24, 2014 3:48pm
Quoting LifesAbeach
Anyone take any trades today? I didn't see any nice setups.
I had 3 trades open on different currencies and that was as much as i could handle.

But i did take a 20 pip scalp from the EU this morning GMT time.

On my macd i had got 1 red bar and then a green one (tc?) and went for a bullish move..

I cycled to work and voila ! next time i checked my charts it had taken the profit and closed, a nice Monday start too the week 20 pips...

happy days.

I still have 2 orders open...but now am watching the E/U and want it to go down and down to the 89 area on the H4 and will buy buy buy....

that is what i am watching this week.....sorry no chart to post, no time today.
  • #27,040
  • Feb 25, 2014 12:56am Feb 25, 2014 12:56am
Quoting binnie
AUSSIE WATCH: This is the only one that looks like giving me a setup today. Probably at work when it does though {image} For those guys who can jump down to the H1 charts, I think there was a possible entry a few hours ago. Looking at the Breakout Candle through the H4 21, there is an entry on the Hourly at the close above that level. {image} {image} Any comments - for or against ??

Alright Binnie,

Party on dude! then onto the see The Boss ! rockin in NZ.

I was watching a motorcycle ride across NZ on tv... it looks like a Disney version of how English people want England too be... nice climate, amazing scenery, friendly helpful people, (always an exceptions), open spaces with a smallish population. very very nice....

My take on the AU.. if you're in bullish mode or a bullish person....onwards and upwards...

If bearish then could trade down from that tough resistance line...H4

BUT...price has been moving down since Oct 2013...nice time for a move back up there and it's worth about 600 pips..is that right?


It would not be a pretty chart if price continued down would it...is that all the markets are based on, pretty charts?

Happy pippin all
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