There are many software’s available in the market were you can get daily market updates and can also get updates about particular currency. share or commodity.
Hi.
I just want to share with you a site named ALERTFX. It’s a free website where you can join and setup your own alerts to get them sent to your phone.
Thank you, pipalot and tony for the quick responses.
I hastily wrote that message when i already knew pipsurfer was with xtick and that he doesnt use MT4.
Anyways, pipalot answered my question.
If either of you guys use MT4, which one do you prefer, MACD or OSMA of MT4?
topspy007
Great catch on MT4 OsMA!! Thanks for sharing!
On my thread entitled MACD contrarian you will find an MT4 file that will convert the MT4 MACD to the same type you will find on other platforms. As pipalot says this shows that the OsMA is similar to but not identical to it. I use this for tracking the Cowabunga approach which I record based on my own demo trades but do not actually trade. PS has been unable to keep the trade blog up to date but I can tell you from my results it has averaged an 8R monthly return since I started tracking it regularly in April 08 (this takes into account trading costs unlike his thread). Currently for this month it sits at 8.5. You need to take into account that I use the MA being at equal value on the 15 min cross over charts to initiate a trade which seems to get me in about when PS opens his trades. I tend to try to let things run longer in a strong trend than he does and where I live I cant realistically trade after 13.30 GMT. I also may not close a trade around the news depending what it is and how the market is shaping up. If you are looking for a mechanical approach which has returned dependable profits over a long period of time (his data go back to the start of 07 when he reported his summary results regularly) then I dont think you can do better than this as a starting point. As always you have to develop your own ideas around the core methodology he puts forward
I take it you mean Feb, not Jan. As you can see from my MT4 screenshot with the changed MACD I referred to it is a clear trade
Hi Tony
Yes, you are correct. I meant february. Thank you for the correction.
I will find the mp4 file and use it instead of the MACD and OSMA.
Tony, i will try ask my next question with as much clarity.
I use cowabunga v2 indicator which when loaded has the MT4 MACD. Can i use your mq4 instead? Will the indicators still work when i load your mq4 and disable/delete the original MACD from the chart?
Or… does your mq4 simply overwrite the preloaded original MACD of MT4?
Thank you in advance for your assistance.
Kindest Regards,
Topspy007
As far as I know it simply overwrites the MACD and was produced originally for other purposes than the Cowabunga
Hi Tony
Thank you for your assistance.
I have searched and read through your thread on MACD Contrarian.
I have downloaded: 4hcontrarian.zip & 4hmacd.zip
These are the correct files?
I unzipped and copied 4hmacd.zip into templates and inserted on mt4.
The other (4hcontrarian.zip) is the MT4 template for your contrarian system (?)
This new macd is certainly better however, it would still have missed that profitable short trade by pipsurfer on 17th Febraruay 2009 00:15 (im just using a recent example), as the new MACD still shows negative at that time which would have resulted in “no trade.”
But as answered before by Pipalot, it doesnt matter as any trades missed by certain platform is picked up on other platforms and vice versa.
I just follow the signals that I get on my broker, most are the same as Pipsurfer’s signals but a few signals he gets but I don’t, or I get but he doesn’t. In the long run it all works out.
I am just happy to find the ‘preferred MACD’ for MT4. Hope this helps all the new people starting out in forex using MT4.
Thank you for the assistance gents, and please correct me if any of the above info is incorrect.
Kindest Regards,
Topspy007
Correct Topspy. Just make sure you have correctly altered the settings after loading to 12,26,9. You will note on my chart I got a clear entry signal
Since their hasnt been an update in a couple of days I thought id put this up.
Trading opportunity 5:15pm AESDT GBP / USD. EMA cross up on the 15 min with the 4 hour trend going long.
MACD was negative and gaining value, stochastics were crossed up and the RSI was above 50. Valid trade.
5:15pm AESDT
Entry 1.4536
Stop 1.4478
Limit 1 1.4550 (Acheived)
Limit 2 1.4600 (Pending)
6:30pm AESDT
Closed trade for a profit of 52 pips. Limit 2 was not acheived but I got a bit nervous and took my profits.
Hope many others picked up this trade.
Hi
I entered this trade after you @ 1.4551 (incl spread) set my target @ 1.4600
its now heading towards my next target of 1.4650. I have a stop loss in at 1.4601 to gtd 50 pips.
Jack
So far two perfect trades today/tonight. For those that got them, congratulations, for those that didn’t the two trades so far are perfect examples of this system and its potential.
You seem to be getting your entries earlier than me, do you not wait for the candle to close ? or maybe my indicators are set up wrong ?
As I’m currently in the 2nd trade now I bought @ 1.4623
Jack
hey buddy how many pips do you make per month with the kowabunga?
thanks
Please I wish to draw attention to this trade update by pipsufer 12-02-09 on this link;
Cowabunga System Daily Update: Thursday, 02/12/09 | Forex Blog: Pip My System.
By ploting the mt4 macd againt the normal macd, i discover a ‘common mistake’ (see my attached chart of the same trade).
If pipsufer had used the mt4 macd, he would have interpreted the macd histogram correctly to mean an upward trend and not a downward trend, in which case there would have been no trade.
the first trade was a ‘perfect’ setup. (All correct).
Good luck trading.
i only started using this system in september. And only really since the start of 09 have a truely followed the rules. Since then though I have pulled a over 200 pips. Im very happy with the system.
when i said two perfect trades I ment that the second had just started and wasnt indicating the actual completion of two trades. I wait for the candle to close before entering a trade.
