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4 Hour Strategy (MACD)

  • #27,161
  • Mar 12, 2014 2:52pm Mar 12, 2014 2:52pm
Binnie, LaB.... tar very much for the information..

I need a quiet moment to read and digest all of it, I'm busy this week so it's hard to read and keep up every day and night.

But i like what i have skimmed through.

Binnie funding a real micro account... its going to be fun...
  • #27,162
  • Mar 13, 2014 1:26am Mar 13, 2014 1:26am
Is the first post on this thread the current version of the system in question?
  • #27,163
  • Mar 13, 2014 4:55am Mar 13, 2014 4:55am
Quoting purplxd
Is the first post on this thread the current version of the system in question?
Yip. Nothing has changed.
  • #27,164
  • Mar 13, 2014 5:56am Mar 13, 2014 5:56am
Quoting binnie
Tonite Watch Gonna watch for a bullish close on the Euro - will take a play up towards the weekly T/L Resistance. The Weekly is showing signs of the Macd rolling over to complete Divergence and form a possible triple RT. Even so, there is still approx 60 pips to be had if the anticipation plays out. {image} {image} Have put the Kiwi on hold until after the Interest rate announcement in the morning.
I should have taken this trade. Been looking through some charts and spotted those move-away TL's that Phillip always use to speak of. Lots of speed during that time. I just wish I could spot these things sooner!!
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  • #27,165
  • Mar 13, 2014 10:02am Mar 13, 2014 10:02am
Quoting LifesAbeach
{quote} Yip. Nothing has changed.

Okay. I was curious as I don't see MACD referenced much in the recent videos posted.
  • #27,166
  • Mar 13, 2014 11:07am Mar 13, 2014 11:07am
Quoting LifesAbeach
{quote} Yip. Nothing has changed.

Maybe I should rephrase what I said. Things have changed a little in the fact that you can still use the MACD but if you can find an earlier entry on the shorter TF, but taking the market rhythm in consideration on the 4H TF, you can also take trades. But you still have to study the topics on page 1. You won’t be able to trade the shorter TF if you don’t understand the market rhythm on the 4H TF.
  • #27,167
  • Mar 13, 2014 1:23pm Mar 13, 2014 1:23pm
Ok cool. thanks. I'll go to post #1 and watch the original video and read the documents.
  • #27,168
  • Mar 13, 2014 1:58pm Mar 13, 2014 1:58pm
Hi all,
I'm italian and I'm starting now to work with the Forex market
this is my first post, after about 3 months of reading this thread.
Yesterday and today (finally) the first trades ...
more then 160 pips earned ... (4 trades).

Just to say ... thanks to Phillip, and to all of you.
I'm learning with you. Of course it is hard for me but also exciting.

I do not want to understand everything, my first goal is ...
learn the rhythm of the market and breathe with him.

I apologize for my English ... (google helped me ... I hope)
  • #27,169
  • Mar 13, 2014 2:47pm Mar 13, 2014 2:47pm
Quoting frankysdc
Hi all, I'm italian and I'm starting now to work with the Forex market this is my first post, after about 3 months of reading this thread. Yesterday and today (finally) the first trades ... more then 160 pips earned ... (4 trades). Just to say ... thanks to Phillip, and to all of you. I'm learning with you. Of course it is hard for me but also exciting. I do not want to understand everything, my first goal is ... learn the rhythm of the market and breathe with him. I apologize for my English ... (google helped me ... I hope)
Hi franky. Well done on your trades. Can you please post the charts of your trades?
  • #27,170
  • Mar 13, 2014 3:53pm Mar 13, 2014 3:53pm
Quoting LifesAbeach
{quote} Hi franky. Well done on your trades. Can you please post the charts of your trades?
Let me try...this is the first time.
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  • #27,171
  • Mar 14, 2014 10:35am Mar 14, 2014 10:35am
Quoting frankysdc
{quote} Let me try...this is the first time. {image} {image} {image}
Thanks. Don't stop posting your charts. The more the better.

Maybe you can just add some comment with your chart as to the reasons for entering short or long.
  • #27,172
  • Edited 11:18am Mar 14, 2014 11:06am | Edited 11:18am
Quoting yaakruay
Binnie, LaB.... tar very much for the information.. I need a quiet moment to read and digest all of it, I'm busy this week so it's hard to read and keep up every day and night. But i like what i have skimmed through. Binnie funding a real micro account... its going to be fun...
Hey Richard do you use the pivots on your chart? I'm thinking of switching to pivots instead of TL's. I feel I'm missing to many trades. Today I watched two of Phillips videos that he posted a few years ago. There he mentioned that sometimes price turns around at the TL and sometimes it just ignores it and that TL's are just a filtering system. As is Pivots. So why should I make it difficult for myself when I can use Weekly pivots. Did some backtesting today and it is amazing how price finds support at these levels. So I will also give it a go and see how it works. I will still use TL's but only when price is in a consolidation period to determine the channel thus only use TL's to replace the MA's as boundaries when price is ignoring them.
Even with counter trends these pivots are amazing!
Look at how price found support on weekly pivot this week.

Here are the 2 videos of Phillip.
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Attached File(s)
File Type: mp3 Daily Wrapup 12June2007.mp3   900 KB | 271 downloads
File Type: mp3 GbpUsd trendlines.mp3   900 KB | 301 downloads
  • #27,173
  • Mar 14, 2014 9:21pm Mar 14, 2014 9:21pm
Which indicator are you using for pivots?
  • #27,174
  • Edited 4:38am Mar 15, 2014 4:22am | Edited 4:38am
Quoting LifesAbeach
{quote} Hey Richard do you use the pivots on your chart? I'm thinking of switching to pivots instead of TL's. I feel I'm missing to many trades. Today I watched two of Phillips videos that he posted a few years ago. There he mentioned that sometimes price turns around at the TL and sometimes it just ignores it and that TL's are just a filtering system. As is Pivots. So why should I make it difficult for myself when I can use Weekly pivots. Did some backtesting today and it is amazing how price finds support at these levels. So I will also give it...

Hello mate.

I have uploaded the indicator i use, i changed the source code so that the levels are in white and so invisible on my screen but the writing remains ws1 etc..

the only visible line is the main pivot..if you do not know how to change the source code, i can do that for you..tell me what colours you like.

I didn't like all the support and resistance levels on my chart it just becomes too messy with the ma's, support lines, fibs and then 7 lines across the charts you can hardly see the candles and price.

let me know if you want me to change anything...i am not a coding expert but i know enough to change the code for colours etc...

..............

what i learnt this week

Trend continuation TC trumps reversals.(you knew that already didn't you)..that is my learning this week... i used the fibs and put some pending reversal orders in at the main levels..i got smashed the UJ took me out for a 100 pips...that was a real tenner £10 i watched disappear..... that hurt but was a lesson learnt fast.....

Real money trumps trading demo for learning fast...haha..well more boo hoo...
.............

The thread has moved on fast this week, please everyone keep posting trades, set ups and your ideas.... brilliant reading just too much to take in at once.

............

ps edit...when using the pivots its amazing how the fibs line up with the support resistance lines and inbetween


...........

Oscars story is surely to be turned into a film...from zero to hero to crazy killer.....you couldn't make it up...

Got to say as an English citizen as we are not allowed to see court proceeding here in the UK, it's riveting stuff watching the videos from inside the court.
Attached File(s)
File Type: mq4 WeeklyPivot.mq4   5 KB | 243 downloads
  • #27,175
  • Mar 15, 2014 12:26pm Mar 15, 2014 12:26pm
Quoting yaakruay
{quote} You can try this one... Do you know how to install them on mt4? Program files....mt4....indicator file... good luck {file}
Sorry mate, is it MACD supported in MT4 Build600+? I been trying to put into my MT4 indicator folder but unable to execute.

Help appreciated.

Regards
Mr.AG
  • #27,176
  • Mar 15, 2014 9:16pm Mar 15, 2014 9:16pm
Question, the MACD levels... I see they work for your standard base pairs such as EURUSD, but not so much for EURJPY. Is there a document of the levels to use for different pairs -- or at least cross-pairs?

Cheers
Aaron
  • #27,177
  • Mar 15, 2014 9:20pm Mar 15, 2014 9:20pm
Quoting purplxd
Question, the MACD levels... I see they work for your standard base pairs such as EURUSD, but not so much for EURJPY. Is there a document of the levels to use for different pairs -- or at least cross-pairs? Cheers Aaron
To reply to myself, I found that doubling the values and moving the decimal two spots looks pretty similar. So for EURJPY, 0.9, 0.6, 0.3 and the same for negatives.

Cheers
Aaron
  • #27,178
  • Edited 3:38am Mar 16, 2014 3:02am | Edited 3:38am
Quoting yaakruay
{quote} Hello mate. I have uploaded the indicator i use, i changed the source code so that the levels are in white and so invisible on my screen but the writing remains ws1 etc.. the only visible line is the main pivot..if you do not know how to change the source code, i can do that for you..tell me what colours you like. I didn't like all the support and resistance levels on my chart it just becomes too messy with the ma's, support lines, fibs and then 7 lines across the charts you can hardly see the candles and price. let me know if you want me...
Thanks for the indicator. I think it's the same one I use. The lines correspond.

Something I've noticed on those counter trends is that when you enter a counter trend trade and you switch to the 1H and monitor the 1H TF you can reduce your loss by exiting a trade when price bounces off the 21ema or 89sma (or in between these two) and gives a TC/RB/RT/break_through_zero. It's just something I've noticed recently. I haven't backtested it yet. Just make sure. Doing this you might not get to your full TP area. Here are 2 examples I just spotted. The first example is a small profit and the 2nd example a winner but not the total TP would have been taken. If this post does not make sense let me know and I'll try and explain it differently.

On old Oscar... I just wish they would get some professional to do the translation from Afrikaans to English. These people doing the translations are terrible (or like we say over here - they are kak) I don't know how you can make out what they are saying.
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  • #27,179
  • Mar 16, 2014 3:07am Mar 16, 2014 3:07am
Quoting purplxd
Question, the MACD levels... I see they work for your standard base pairs such as EURUSD, but not so much for EURJPY. Is there a document of the levels to use for different pairs -- or at least cross-pairs? Cheers Aaron
Hey Aaron I can't help you out over here. Maybe someone else can comment. I know somewhere at the start of the thread they talk about the levels that are used for the USDJPY but I can't remember the levels and the page of that post. But your levels on the EURJPY sound about right.
  • #27,180
  • Mar 16, 2014 9:37am Mar 16, 2014 9:37am
I was thinking of putting up a cartoon and positive quote every Sunday before the market opens. Just to keep the thread interesting. If you guys are against it let me know. I don't want to mess up the thread with irrelevant stuff. These are all stuff from the internet. I don't make it up.

Quote for the week: The big money is made by the sittin' and the waitin' -- not the thinking. Wait until all the factors are in your favor before making the trade.
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