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4 Hour Strategy (MACD)

  • #27,581
  • Jun 4, 2014 8:35am Jun 4, 2014 8:35am
Very good system thanks Nial.
  • #27,582
  • Jun 4, 2014 12:46pm Jun 4, 2014 12:46pm
Quoting freewilly
Happy trading, all
Oy you !!

Where are your charts, you used to post great charts...now you're just a happy spamalot !
  • #27,583
  • Jun 4, 2014 12:51pm Jun 4, 2014 12:51pm
Quoting Morelands
Will try and post pictures of a trade after the it is complete. I sold the GBP/USD @ 1.6755. Closed at BE...Rats

Should have kept that beauty open my friend...

We are going down some more before the reversal happens..

The weekly chart...price will try to touch the 21....then we should have lift off....
  • #27,584
  • Jun 4, 2014 12:53pm Jun 4, 2014 12:53pm
Quoting nic73
EURUSD closed at breakeven. No gain no loss. Today there is G7 meeting which is a Red news. What's the significance of G7, anyone?

I think the big news is Thursday that will move the Euro, that's why its stalling and not doing anything...
  • #27,585
  • Jun 4, 2014 4:09pm Jun 4, 2014 4:09pm
EUR/JPY Call,

- nice pin bar on W Res.
- will go short if Macd going that way.
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  • #27,586
  • Jun 5, 2014 7:15am Jun 5, 2014 7:15am
Quoting yaakruay
{quote} I think the big news is Thursday that will move the Euro, that's why its stalling and not doing anything...
What's the big new and how did you find out?
  • #27,587
  • Jun 5, 2014 7:41am Jun 5, 2014 7:41am
sold bounce 21 on D
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  • #27,588
  • Jun 5, 2014 8:30am Jun 5, 2014 8:30am
USDCHF - Sell
Entry 0.8962
TP 0.8950
R:R 1:1
Analysis also base on market trend last couple of days. Aim is to take 10-12 pips and leave quickly.
Adjusted SL to BE when making some pips because I felt market was a bit volatile when my trade was still on. Market hit low of 0.8947 and I was ONE pip short to taking a 12pis gain. Only ONE pip and I win nothing. To console myself I made no loss either. So very, very disappointed!!!!
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  • #27,589
  • Jun 5, 2014 2:00pm Jun 5, 2014 2:00pm
Quoting nic73
{quote} What's the big new and how did you find out?
FF Calendar...Red Ones ....Min Bid Rate....ECB
Failure, is a wonderful teacher!
  • #27,590
  • Jun 6, 2014 10:07am Jun 6, 2014 10:07am
There are some things I am still not convinced about this system.

That one can make 300-400pips a month / pair. That must include counter trend trades as well. Yet it was said that CT is very risky. Have been trading for
6 months now and this is what I observed:

1. Without counter trend trades, no way one could achieved the 300-400pips target.
2. Trading with the trend trades / TC does not occur that often.
3. Many a times, you got to get into a CT then when it crosses over the zero MACD line, it gets in a TC. If you don’t do that you mostly likely miss
many trades (which turn into a TC). And then you got to wait again, for pull back move away which could take days etc.

I am sure Philip realises the issue, difficult issue with CT trades but he made it sound rather simple. I am reading the forum posts from page 1 again.
And I notice in the beginning pages he posted so many charts on CT trades which almost give the impression that this system all so easy.

Back testing results also shows that CT trade contribute largely to the 300-400 pips / month.

This system is sort of easy in a way, yes if you only do TC trades. BUT in order to make serious money trading on TC only plus concentrating on only
2 to 3 currency pairs, one would need to buy more than just 1-2 lots which means the need to invest a relative large capital to see serious profit coming.
And how many people can afford that sort of money?

I have tried CT trade on demo account and the rate of success isn’t high thus far.

What I am most disappointed about is that Philip makes this CT trading sounds easy like TC trading. But is in fact a very tough one which some of you
experience.

I am not trying to discredit him, his intentions are goo and he give a lot of valuable info about fores trading but there are issues / topics which I felt he has not dealt with sufficiently.

As usual, I welcome feedback. Thanks.
  • #27,591
  • Jun 7, 2014 1:51am Jun 7, 2014 1:51am
Quoting nic73
There are some things I am still not convinced about this system. That one can make 300-400pips a month / pair. That must include counter trend trades as well. Yet it was said that CT is very risky. Have been trading for 6 months now and this is what I observed: 1. Without counter trend trades, no way one could achieved the 300-400pips target. 2. Trading with the trend trades / TC does not occur that often. 3. Many a times, you got to get into a CT then when it crosses over the zero MACD line, it gets in a TC. If you don’t do that you mostly likely...
Hi,

The thread is quiet now, not so many people posting only viewing, i hope more people will answer your post, but probably not, we can only hope.

I wish there was a system for obtaining 300 - 400 pips per month, if only.

For me, ending any month with positive pips no matter how many is a win win situation. 300 positive pips without any losses would be amazing.

I have stopped CT as much as possible as its like picking tops or bottoms and will just end in losing, this is my personal experience.

TC's are the only way as they say, the trend is your friend. But currencies need to be trending and not consolidating, which is not always the case, that would be good wouldn't it, if they were trending 400 pips each time, but you can get 200 pips over a few weeks.

This is my personal experience, i came across this thread in the beginning of my learning and trading and i couldn't use it, so i moved away onto lots of other things as I have discussed with other traders. Fibs, support and resistance, candle formations, other moving averages, the last 4 candles, lots and lots of other indicators blah blah blah.

Then after a couple of years i came back to this thread just as i was losing hope and found that i could use it and understand it, probably as i had a good understanding of price action, resistance lines, price movement etc.

I have ditched all indicators except the macd, i use resistance lines, ichimoku and read other peoples analysis, this works for me now.

If you are using demo, i suggest you invest/lose £100 of real money and open an account with a broker and use the 10pence per pip option.

Once you are trading real money (maybe you are) i find it is a different experience than demo trading £1000000 of fake money with no feeling.

I know i don't like to lose my money so that's why i don't CT anymore, i only want TC's and i only look at 4 currencies which are the lowest spread.

example gold is about 5 pips spread, so i am 50 pence down immediately, well i don't want that do i...so i trade the lowest spread currencies which are about 1.7 pips.... that gives me 4 currencies that i am interested in only.

For me, this can only come from trading my money, not fake demo as then i wouldn't give a toss about the spread.

This system works for me as it keeps me on the winning side mostly, but you have to choose your trades carefully..

I would love to see any system that makes 300 - 400 pips successfully per month..that is like discovering a pot of gold at the end of a rainbow. IMHO.

For me and my advice for what its worth.

Bounce around, use every indicator possible, read everything you can, use everything you can read about and see what happens...keep us informed of all your discoveries.. i am always intrigued as to what other people are doing.

Stuff i have done.
nial fuller
rob booker
fx bootcamp
barry burns
informed trades
you tube videos on all forex and systems
fxstreet (hours and hours of webinars)
dailyfx
sive moreton
2nd skies
compass fx
baby pips
fxfisherman
forex4noobs
yourtradingcoach


Just a few that i have discovered over the years or that spam me daily....

I hope this helps for what its worth. As a part time home gambler(forex trader) i don't think there is any system that will make you a positive 300 - 400 pips per month after month after month... no Sir.

Let me know once you find the holy grail....

Or just learn one easy way that will make you positive pips or actually i realise now, what i do. is try to spot trades then do everything possible to not to take the trade, that keeps my money safe..

happy days...
  • #27,592
  • Edited 2:18am Jun 7, 2014 2:00am | Edited 2:18am
Quoting nic73
There are some things I am still not convinced about this system. That one can make 300-400pips a month / pair. That must include counter trend trades as well. Yet it was said that CT is very risky. Have been trading for 6 months now and this is what I observed: 1. Without counter trend trades, no way one could achieved the 300-400pips target. 2. Trading with the trend trades / TC does not occur that often. 3. Many a times, you got to get into a CT then when it crosses over the zero MACD line, it gets in a TC. If you don’t do that you mostly likely...

I noticed the poster called

  1. mike1349

Has been a member since 2007....i would love to see their diary for the last 7 years...and now they are back here....


Hopefully they can give us some of their losses/successes/indicators/websites/systems/EA's experiences over the years.

They will know what works for sure.

I guess its like this.

Moving averages
trend lines
1 or 2 oscillators/indicators
daily/monthly time frames
candle formations


edit...just remembered the biggest help is pure LUCK! as we are gambling... but try to get the law of averages on your side!

I enjoyed reading your post, it made me look at my style and learn some more...cheers

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  • #27,593
  • Edited 7:56am Jun 7, 2014 7:35am | Edited 7:56am
300-400pips per month is what Philip claims in his posts / lessons. This is not from me. So you are saying some people has tested this system and it cannot produce 300-400 pips / months on each currency that Philip has tested and said. I am despondent because I trust his words. I hope Philip is still staying in this forum and comes back to clear the air. Philip is this system for 300-400pips per month per currency? Did you not say that and is this still valid today?

I don't understand what you are trying to say in your post 27592?

Why do you call yourself a gambler. I am not taking forex as gambling. I intend to take it as a full time job and business.

I am not too happy about what I have come to realise this weekend. I had high hopes ...... can I still keep that flame going?
  • #27,594
  • Jun 7, 2014 12:03pm Jun 7, 2014 12:03pm
Quoting nic73
300-400pips per month is what Philip claims in his posts / lessons. This is not from me. So you are saying some people has tested this system and it cannot produce 300-400 pips / months on each currency that Philip has tested and said. I am despondent because I trust his words. I hope Philip is still staying in this forum and comes back to clear the air. Philip is this system for 300-400pips per month per currency? Did you not say that and is this still valid today? I don't understand what you are trying to say in your post 27592? Why do you call...
Forex is gambling, you don't own the currency or shares or whatever. It is gambling just like roulette at the casino.

My post 27592, i was hoping for the poster mike1349 to get involved as they joined the forum on 2007...so they have seen, read, heard and used most things about trading i would imagine. Their opinion would be good to get.

I am sure i could backtest this system and show you easily 300 - 400 pips any forex internet guru can do that!

BUT can they show you the future! This is what you are predicting. You need to find your own style of trading, i like this thread and i like this system as it works for me, it's not going to work for everyone though.

You are going to work forex full time....i hope you can, i read somewhere that you really need £10,000 invested to live off trading and that's if you can keep it and not lose that amount....I don't have £10k but i would not lose it gambling on forex if i had that amount.. That money would be better invested in real stocks and shares. IMHO

I maybe wrong, but i get the feeling you are after the quick rich scheme, well this isn't it. You can't call Phillip out to defend his system when it has lasted over 7 years, that is all the proof you need, it has lasted the test of time.

That flame is still burning my friend...you gotta keep trying and thinking about scalping and long term trades together. The daily scalps are going to be 10 - 40 pips, the long term trades should be 100 - 200 pips.

If you master this system or any system you should be able to trade those for those pips.....

Keep posting.
  • #27,595
  • Jun 8, 2014 10:27am Jun 8, 2014 10:27am
I believe Philip's 4H MACD system is a good one. The result is all depend on each traders. You can implement the same technical skill. But when it comes to result, I believe trader's mentality, intuition, and so as other personal factors will drive most of the trading decision to enter or exit the market, not just indicators. And, the more we invest in our time, the more we get the result. I did believe that we can target any pips that we want as long as we discipline ourselves and make a proper plan.

God Bless!
  • #27,596
  • Jun 8, 2014 12:44pm Jun 8, 2014 12:44pm
Quoting freewilly
I believe Philip's 4H MACD system is a good one. The result is all depend on each traders. You can implement the same technical skill. But when it comes to result, I believe trader's mentality, intuition, and so as other personal factors will drive most of the trading decision to enter or exit the market, not just indicators. And, the more we invest in our time, the more we get the result. I did believe that we can target any pips that we want as long as we discipline ourselves and make a proper plan. God Bless!
Amen....

That is the problem right there, every ones analysis and trades are all slightly different, as we are humans.

It is up to the individual to use the tools/systems available to make an informed analysis resulting in a profitable trade. (with luck on your side)

Hey ho,

All i can see interesting is the U/J to watch to see if it wants to break higher.

Buy on the next dip is my basic plan at the moment.

Reasons
Price above 8/21/89
8/21 moving averages are close together so i want to see a close above/below these to figure out where to buy.

Good luck all..
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  • #27,597
  • Jun 9, 2014 1:09am Jun 9, 2014 1:09am
A dodgy scalp trade on the UJ.

I have opened a sell order on the H!.

Scalping...at least half way to the large candle from Thursday last week.
Price under 8/21/89.

(this could be support level though)

macd on zero (i need it to carry on through zero making red bars)

Price target the 200 ma...

cheers all


ps... i took this trade as the stop loss seemed so small...10 pips that's all... come on baby....
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  • #27,598
  • Jun 9, 2014 12:37pm Jun 9, 2014 12:37pm
I'll talk to myself then, just being at home

I after a successful short scalp this morning hitting my said targets.

I have no entered long on the U/J but hopefully for the next big move up.

Reasons.
H4. Price has found support from the 8/21 some nice long tails and candle bodies.
89 is heading up.
Macd is bouncing around zero but trying to make a TC.

Stop loss is small, just below the tails and last low.

Here we go, heading up ! maybe


The ichimoku H1 is showing.
Kumo twist up
TK bullish crossover

These are bullish signals that can help to confirm entry points and just as another layer of protection against losing.

I am not trying to promote another system, but my charts are laid out like this, so i am posting what I see on my screen.
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  • #27,599
  • Jun 9, 2014 3:18pm Jun 9, 2014 3:18pm
Quoting yaakruay
{quote} Forex is gambling, you don't own the currency or shares or whatever. It is gambling just like roulette at the casino. My post 27592, i was hoping for the poster mike1349 to get involved as they joined the forum on 2007...so they have seen, read, heard and used most things about trading i would imagine. Their opinion would be good to get. I am sure i could backtest this system and show you easily 300 - 400 pips any forex internet guru can do that! BUT can they show you the future! This is...
I know Forex is not gambling.It gives you an edge which you are suppose to use it wisely and that edge makes the difference between Forex and gambling.

Read this thread and it answers lots of your questions. He is a full time trader and father of two. He is more open compare to other traders in FF. His account is over 200K which he earned in Forex and so on and on.Don't worry about his system since it has nothing to do with Philip system

http://www.forexfactory.com/showthread.php?t=403563

Regarding me, I never left here to come back.I was always reading this thread since I have a good memories in here .Many friends who they are not here anymore but their memories.

Do I use this system? Part of it.

Let me tell you something.Forex is not gambling but sometimes it makes you that frustrated that you rather to think it's gamble.

Good luck
Mike
Failure, is a wonderful teacher!
  • #27,600
  • Jun 9, 2014 4:31pm Jun 9, 2014 4:31pm
Quoting mike1349
{quote} I know Forex is not gambling.It gives you an edge which you are suppose to use it wisely and that edge makes the difference between Forex and gambling. Read this thread and it answers lots of your questions. He is a full time trader and father of two. He is more open compare to other traders in FF. His account is over 200K which he earned in Forex and so on and on.Don't worry about his system since it has nothing to do with Philip system http://www.forexfactory.com/showthread.php?t=403563 Regarding me, I never left here to come...

I respect you and everything you have to say, and please don't take this as me being negative.

I love learning and trading forex..

But forex is gambling, I'm from the UK and the government here class it as gambling, so I'm just going with the law here.

I digress, i want to learn... Thanks for the heads up on the other thread...i need to start reading it...

cheers...
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