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4 Hour Strategy (MACD)

  • #29,301
  • Apr 21, 2016 1:35am Apr 21, 2016 1:35am
GbpUsd - Potential Opportunity to add

Might get a chance to add, rhythm break 21ema, pllback, move to 89sma

I will only take it if it is minimum 1:1 R:R
Attached Image (click to enlarge)
Click to Enlarge Name: GbpUsd Set Up 1h 21.04.16.jpg Size: 242 KB
  • #29,302
  • Apr 21, 2016 1:44am Apr 21, 2016 1:44am
NzdJpy short trade mentioned yesterday was triggered overnight

Does have potential for a breakout higher so it would be a bad idea to hold short if it does (hope is not a strategy)

Attached Image (click to enlarge)
Click to Enlarge Name: NzdJpy Set Up 21.04.16.jpg Size: 222 KB
  • #29,303
  • Apr 21, 2016 1:57am Apr 21, 2016 1:57am
EurGbp Trades Closed - Total +135

We have a minimum bid rate today from the ECB meaning the Eur could be slammed either way. Personally I would rather not gamble the pips, if it flies down further then so be it, there's always next week

Total pips on trades closed this week +972

In fact I am still anticipating a pullback and move lower, but you never know what can happen with interest rate decisions.
Attached Image (click to enlarge)
Click to Enlarge Name: EurGbp Closed Trades 21.04.16.jpg Size: 198 KB
  • #29,304
  • Apr 21, 2016 2:44am Apr 21, 2016 2:44am
Quoting JonnyPip
{quote} 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...
Wish I could reach the point of trading on a naked chart. Do you trade for a living or just part time? I have coded various EA's of my own and the problem stays the same, it's a robot and no system can work 100% on conditions met. You do need that judgement on whether there is any reason the trade may not pan out as thouught. Whats your thoughts on my practice trade attached? My TP could be moved up a bit.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY 2016-04-21_9-30-19.png Size: 40 KB
  • #29,305
  • Apr 21, 2016 2:51am Apr 21, 2016 2:51am
GbpAud - First full losing trade this week

GbpAud trade is about to close for a loss. I posted it earlier in the week with a tight stop, I cut half the position for virtually break even and doubled the stop as we had news on Wednesday and it needed room. The news was negative and the price dropped so it was the correct thing to do. I then added another position as I had a much better price with trade 1 sill in tact.

I labelled the risk before hand as it was counter to the major trend, we just have to accept these as part of the reality of trading
Attached Image (click to enlarge)
Click to Enlarge Name: GbpAud Losing Trade 21.04.16.jpg Size: 232 KB
  • #29,306
  • Apr 21, 2016 3:38am Apr 21, 2016 3:38am
Quoting Mobber444
{quote} Wish I could reach the point of trading on a naked chart. Do you trade for a living or just part time? I have coded various EA's of my own and the problem stays the same, it's a robot and no system can work 100% on conditions met. You do need that judgement on whether there is any reason the trade may not pan out as thought. Whats your thoughts on my practice trade attached? My TP could be moved up a bit. {image}
Hi Mobber,

Yes trading really requires practice and a certain amount of decision making. I honestly wouldn't bother trying to create a robot, you stand to gain much more from studying how to trade. The author of this thread has laid out a huge amount for people and I would strongly suggest taking the time to go through it to any new trader. Truth is you will need to keep reading and re-reading and studying the charts before it all makes sense fully. It won't happen overnight.

I trade full time now but 5/6 years ago I knew nothing about trading. I have had the benefit of meeting people (who are now friends of mine) who are professional traders, some of them for banks. I learnt a lot from them, but once I had full learnt how to trade I also realised how great this thread was Philip made. I see so many new traders on forex factory who desperately want to learn to trade, shooting from thread to thread, and I see this thread with a huge, huge amount of genuine information and few people on it. So I am hoping to show people that if they want to start making $$$$ it's all here (of course there is more to learn, but easily enough here to make $$$$.

In your post the price is above the 21ema and above the 89sma, this is showing a bullish bias suggesting price is likely to go higher.

In fact I have 2 trades currently open in that pair with my take profit roughly where your stop is. I am also looking to potentially add a third up to that target (110.00 level - suggested targets).

Hope that helps
  • #29,307
  • Apr 21, 2016 3:44am Apr 21, 2016 3:44am
GbpUsd Trades Closed - +54 pips and + 29 pips

Total +89 Pips
Attached Image (click to enlarge)
Click to Enlarge Name: GbpUsd Closed Trades 21.04.16.jpg Size: 238 KB
  • #29,308
  • Apr 21, 2016 3:49am Apr 21, 2016 3:49am
GbpAud Closed out at loss

Total - -161

Total this week = 972 - 161 = +811

811 + 89 = +900
Attached Image (click to enlarge)
Click to Enlarge Name: GbpAud Losing trade closed 21.04.16.jpg Size: 220 KB
  • #29,309
  • Apr 21, 2016 4:15am Apr 21, 2016 4:15am
NzdUsd Trades Closed - +44 pips and +33 pips

Total = +81 pips

Total for week = +981 Pips
Attached Image (click to enlarge)
Click to Enlarge Name: NzdUsd Closed Trades 21.04.16.jpg Size: 210 KB
  • #29,310
  • Apr 21, 2016 4:36am Apr 21, 2016 4:36am
Closed out NzdJpy for B/E, not worth it anymore

Nzd and Jpy are both weak so the NzdJpy is not doing as anticipated, it just looks a mess.

As a 1:1 R:R, counter trend trade, towards the end of the week (I like to wind down my trades so I hold few if any over the weekend), you have to ask yourself if it is worth the risk. Not for me.

If it goes without me, so be it.
Attached Image (click to enlarge)
Click to Enlarge Name: NzdJpy Closed trade 21.04.16.jpg Size: 211 KB
  • #29,311
  • Apr 21, 2016 5:05am Apr 21, 2016 5:05am
GbpJpy - Closed Trade - +50 pips

UsdJpy - Closed Trades - +157 pips and + 60 pips (Total = +217 Pips)

Total for both trades = +267 pips

Total for week = +1,248 Pips

Closed the rest of my positions even though my expectation is for some higher moves. I cannot trade for the rest of today and there is some big news releases today which I would prefer to be able to manage the trades through. As I can't do that and it's Thursday I prefer to just wind them up and bank the pips.

It is unlikely I will make anymore trades this week.

I hope these charts helped some people this week understand how this method can be successfully applied and also to dispel any concerns like "does this method work".

I won't be posting as many next week as I missed quite a few trades whilst preparing the charts and uploading them, especially the huge UsdChf move which I highlighted on Monday

But I will still put some up and am happy to help people who are trying to learn the methods laid out in this thread.

Happy Trading
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GbpJpy 1h Closed Trade 21.04.16.jpg Size: 224 KB
Click to Enlarge Name: UsdJpy Closed Trades 21.04.16.jpg Size: 217 KB
  • #29,312
  • Apr 22, 2016 12:45pm Apr 22, 2016 12:45pm
Quoting JonnyPip
GbpJpy - Closed Trade - +50 pips UsdJpy - Closed Trades - +157 pips and + 60 pips (Total = +217 Pips) Total for both trades = +267 pips Total for week = +1,248 Pips Closed the rest of my positions even though my expectation is for some higher moves. I cannot trade for the rest of today and there is some big news releases today which I would prefer to be able to manage the trades through. As I can't do that and it's Thursday I prefer to just wind them up and bank the pips. It is unlikely I will make anymore trades this week. I hope these charts helped...
Hi Jonny wasesome results congratulations

I'm new to this system just to understand, do you trade 1H and look for direction on 4H tf?
I Sold au this morning doing good so far and I have a buy on ucad 1H to ema 200 is it too early?
thanks in advance.
  • #29,313
  • Apr 22, 2016 1:11pm Apr 22, 2016 1:11pm
Quoting rare
{quote} Hi Jonny wasesome results congratulations I'm new to this system just to understand, do you trade 1H and look for direction on 4H tf? I Sold au this morning doing good so far and I have a buy on ucad 1H to ema 200 is it too early? thanks in advance.
Hi Rare,

The method laid out by Phil suggests trading in the 4h time frame but early entries can be taken on the 1h. He says this for a reason and I would also strongly recommend this.

Phillip has laid out many lessons which can be found at the beginning of the thread and I would strongly urge new traders to read and study them all. They are pointers to trading correctly, not some fanciful holy grail type rubbish.

One of the things Phillip talks about is starting off on a monthly chart and analyzing down through the time frame so you have an overall idea of what is going on long term as well as short term. This is important.

I'm not too sure I understand the trades you took, if you can post the charts on here it would give me a better understanding?

You mention the 200ema however the 200 should be an sma according to the method. 8ema, 21ema, 89sma, 200sma, 365ema.

Hope this helps
  • #29,314
  • Apr 22, 2016 1:51pm Apr 22, 2016 1:51pm
Quoting JonnyPip
{quote} Hi Rare, The method laid out by Phil suggests trading in the 4h time frame but early entries can be taken on the 1h. He says this for a reason and I would also strongly recommend this. Phillip has laid out many lessons which can be found at the beginning of the thread and I would strongly urge new traders to read and study them all. They are pointers to trading correctly, not some fanciful holy grail type rubbish. One of the things Phillip talks about is starting off on a monthly chart and analyzing down through the time frame so you have...
Yes, i'm going to read it this weekend thank you. This is the trade I took to 1H 200 sma.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 64 KB
  • #29,315
  • Apr 22, 2016 2:39pm Apr 22, 2016 2:39pm
Quoting rare
{quote} Yes, i'm going to read it this weekend thank you. This is the trade I took to 1H 200 sma. {image}
Hi Rare,

This is what I am seeing if we are looking to the upside. I guess that trade is possible but I personally can't see enough evidence to be involved. The market rhythm isn't "clean" it's a bit messy (can be above or below 89sma from here just depending on how the candles close.)

Plus it is a counter trend move so it is naturally higher risk.

For these reasons I wouldn't trade this set up, I would wait for a better one.
Attached Image (click to enlarge)
Click to Enlarge Name: UsdCad Analysis 22.04.16.jpg Size: 214 KB
  • #29,316
  • Apr 22, 2016 2:43pm Apr 22, 2016 2:43pm
I forgot to say, if you look it is could also easily be a break of 89/21 lower, pullback and looking for another continuation lower. So you can see it is hard to gauge clear direction from here.
  • #29,317
  • Apr 24, 2016 1:47pm Apr 24, 2016 1:47pm
Quite a few good potential opportunities this week, I thought I would put a couple up for those interested.

Lets see how they play out, hopefully we get the chance to enter and make some pips
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EurUsd set up 4h 24.04.16.jpg Size: 231 KB
Click to Enlarge Name: EurAud Set up 4h 24.04.16.jpg Size: 229 KB
  • #29,318
  • Apr 24, 2016 1:58pm Apr 24, 2016 1:58pm
EurAud Potential Set Up in 1h Market Rhythm
Attached Image (click to enlarge)
Click to Enlarge Name: EurAud Set Up 1h 24.04.16.jpg Size: 219 KB
  • #29,319
  • Apr 27, 2016 2:50am Apr 27, 2016 2:50am
EurAud Trade closed out last night.

Price went to target from a major news release which I couldn't watch, so I took a part of my position off at a small loss of -11 pips and gave myself a slightly wider stop to allow for volatility. I also had to put a TP as couldn't be in front of the computer to manage the trade.

Price crashed through all three targets from Modays post for + 139 pips, so +128 overall for me on EurAud.

Hope this helped
Attached Image (click to enlarge)
Click to Enlarge Name: EurAud closed trade 27.04.16.jpg Size: 215 KB
  • #29,320
  • Apr 27, 2016 7:03am Apr 27, 2016 7:03am
Quoting JonnyPip
EurAud Trade closed out last night. Price went to target from a major news release which I couldn't watch, so I took a part of my position off at a small loss of -11 pips and gave myself a slightly wider stop to allow for volatility. I also had to put a TP as couldn't be in front of the computer to manage the trade. Price crashed through all three targets from Modays post for + 139 pips, so +128 overall for me on EurAud. Hope this helped {image}

It did! I made a bit more because of target difference. Thanks!
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