4 Hour Strategy (MACD)

Hey nice trade buddy,

I took a very similar position last night, I gave it a bit more room to breath and adjusted my stop slightly and this morning it was in profit. I was waiting to see if we would get a bigger retracement but I say this morning it was going to continue higher so closed out for around 6 pips (no issue) lost and took a long position, up around 20 pips currently. You have to be nimble with the counter trends, as Phil said "hope is not a strategy". This is so important to keeping your losses minimal.

It might only get to around the .7850 from here so it is something to watch.

Gbp Chf Potential Opportunity

Pullback 21ema, continue to round number

Chart from earlier in the week, potential chance to add to UsdJpy

Break of 89sma, pullback, move to 365ema/110 round number

*note the labels on the chart are from earlier in the week not now, the risk of 21ema bounce has passed and the anticipated move has played out*

GbpJpy potential chance to re-enter

This is another chart from the start of the week, I would have like to have still been in and adding but I was stopped out for +229 pips before it continued.

This could be another opportunity to ride it up to target 2 - the 200sma

Same with EurJpy, looks like a potential opportunity to the 125.00 level/200ma.

Rhythm, pullback to 21ema, continuation (TC)

Hope these are helping people to see the market rhythm and how it can be traded.

UsdCad

Pullback to 21ema, continuation to 1.260 in 1h

*Note the oil inventories are today and Canadian governor Poloz is speaking later as well - has to be watched, I may prefer to tp at 1.2600 or before rather than ride the news*

Be aware

When you see this on the usdindex, it could be a sign trades like the USDCAD short, AudUsd long could fail and you could take small losses or decide to manage or cut trades accordingly. To avoid this process becoming emotion based see what the cnadles tell you on their close, not before hand just to save some pips.

This happens in trading and you have to accept and understand why.

EurGbp looks like it could be set to continue mondays trade....

UsdCad Trade closed - Hope is not a strategy!

I might have reversed the trade were it not for the news the oil news afternoon

EurJpy Trade closed - Hope is not a strategy!

Hopefully these help with what it means. If a currency is showing weakness and you are involved, at the very least it will bounce around without going very far. Forget it and don't worry if it goes without you. Chances are it will go without you but not very far. If it rockets, who cares.

Closed AudUsd/GbpUsd (except initial one) as expecting retracement due to USD strength.

With the UsdCad/Eur/Jpy trades closed out it is a total of -4 pips. When you learn to do this, prepared to miss some trades if necessary, you will stop hoping and your losses will be minimal.

CadJpy - Break 21ema, pullback, TC to round number (87.00)

GbpUsd initial trade 1 closed

Usd is showing strength so a pullback is highly likely. I do expect another move higher but do not want to be with a 50% retrace and holding over weekend as retracement could take all of tomorrow and friday. I'd rather bank the pips and come back next week

That's +612 pips on the closed trades so far this week, -10 pips for cut trades is +602 pips so far with other profitable open trades. I hope the charts are making sense to people and showing the potential of the type of trading laid out in this thread

Closed CadJpy +37 pips, looking to take a potential short on NzdJpy suggesting possible Jpy strength (could be nzd weakness, probably is) and selling came in before the round number.

Will probably get to the round number but hoping for a chance to get a better price

Total closed = +639 for the week

Potential Set up on NzdUsd

Pullback to 21ema, TC to 89sma

Hey JonnyPip, I've just stumbled across this thread in the last week. Read through a big part of the thread and it seems very interesting. Will try and paper backtest a bit this weekend. Do you still trade the method as explained in the 1st post (with all the references)? Reason I'm asking is it doesn't look like you rely on the MACD so much.

Thanks

Hey Mobber,

I personally can trade with no macd, no moving averages, nothing. Just a blank chart. However I can see what Phillip has tried to lay out here in the "system", it is a guideline to how a lot of professionals would trade. I know that this is one of the few threads laid out which isn't written by a clueless person trying to persuade other clueless people they have found the holy grail.

This "system" is like having stabilizers on a bike. If you put stabilizers on a bike you haven't discovered a new "system" of transport, you are aiding inexperienced riders to try and ride like experienced bike riders. That's why I say "system" as I think some people hear the word "system" and think they can apply it like a robot. Real trading requires a certain amount of decision making.

I do find the macd is helpful, mainly for divergence, but I don't get hung up on it (I did in the beginning) as you start looking for the macd to tell you what to do - that is a big mistake - one Philip has alluded to many times in his presentations. You need to be able to read the chart (understand market rhythm) and then look to the macd for confirmation of your own analysis/market rhythm.

You HAVE to paper trade and put the time in to study it or honestly it is just like expecting to be able to perform open heart surgery just by putting on a white coat and picking up a scalpel. Unfortunately most people can't be bothered to do the work, so they never reap the rewards.

Hope this helps anyway

It's good to hear from you as I would like to get a bit of activity back on this thread. It deserves it as someone (Phillip Nel) has genuinely taken the time to put it together with no other intention than to purely help others.

Closed out GbpChf positions, one for +92 the other for +106 (total +198)
Price missed the 365ema target on the 4h chart by pips and produced a pin candle (emotion).

We may get another move up to the 365/1.4000 level after a retrace.

Total pips closed out this week +837

GbpUsd snapped back as anticipated.

Looking to hit target of 21ema before looking to establish new long position

​Hey ! Jonny! You still making 50-100% EACH month? Good for you , you rich rich twat![/quote]

I'm not really interested in your insults, I have spent a week posting trades with most of them on the entries (which means if they went against me everyone would see). Not retrospectively picking just good ones. You can't "fake" the charts I have put up and I am only doing so in the hope it may help others. I don't have to bother.

These charts show +837 pips total in 4 days trading, plus I have another +400 pips in open short term trades. PLUS I have another completely different long term strategy which is essentially long term trend trading, so you can do the math for yourself.

You mentioned before about hedge funds only doing around 6 per cent a year therefore "no one can do more than that". You use that to reinforce the fact you can't trade because it's all a myth and it's not physically possible. But what you clearly don't know is that hedge funds are TOTALLY different to retail traders and anyone who knows anything about trading will be laughing at your comment because it just shows you have no clue at all as to what you are talking about.

This is not my thread so please don't ruin it for others with your childish bitterness.