yes agree with you Pizal
Looking to go long now on a MACDH break of the zero line to the downside.
Last few longs have worked out pretty good so hopefully this long will work out too.
MACDH is at about zero now and if this afternoons rally continues it may close above the zero line. Will have to wait for close of 4HR candle to see (GMT 20:00)
I am poised for the next entry.
just wanna clarify. is this systtem based on entrys given off gmt candles or gmt + 1
My Broker charts currently have candle settings at gmt 01.00 for the 1st 4h candle each day and i also subscribe to a different charting package which has the first 4h candle at 00.00 gmt. both would obviously give different signals probably with slightly different results however iguess it would all even out in the long run, but just for the sake of following this thread, i would like my entries to match others on here trading this method
I have answered this before. I use IBFX which I believe is GMT. Like you say it should not make any difference in the long run
Looks like we are getting a cross to the downside now. My 4HR candle at 16:00 GMT has a reading of 0 on MACDH so as long as there is not a good rally in the next 4 hours the long should setup at the close of the next 4HR candle
Pending long order triggered @1.3996
Barely got a cross of Osc to the upside. Setup a short pending order
Agree with Pizal, it is a short that has now triggered
Hello,
I am excited about this system but I have a stupid question…sorry…
do you stare at the macd whole day for it to cross to make the trade? lol
Of course not, the crossovers only happen about 2 or 3 times a month! you need to set up alerts on your charting platform to notify you when there is a cross, if your charting software does not support sms or email alerts then you can try staring at the screen but you might get bored after a few days
Trade BARELY got low enough to bring stop to B.E. and then reversed right back to entry point. Oh well, at least not a loss.
Hello,
thanks for replying… in mt4 am i able to set email alert once the OsMA cross over?
i dont use mt4 so i cant help you, hopefully some of the others here can give you more advice re mt4
Tonymand, can you post an updated list for this years trades if you have. been a few losses & BE trades recently but no win for a while, correct?
yes in drawdown at the moment
Thanks
Currently in a trade which is about 50 pips from PT
Been a tough winter for the method (guess summer across the pond)
Tony i recorded a valid entry on the 24/09/09 entry at 14757 which is not shown on your table, this trade was triggered whilst still in the entry taken 21/09/09, unfortunately it resulted in a loss. which would put the method showing a loss for this year (only just) hopefully will reach the end of this drawdown soon. Do you have any thoughts on bettering your return during times of drawdown ie using S & R lines as many of the BE trades have reached 150 pips + in profit before returning to BE
you dont take a trade while having a trade open
I am sure there are many ways in which this could be bettered. The point of the thread though is to show traders the issues that present themselves even when trading a demonstrably successful strategy and to show the varying performance over time. For instance someone who started trading immediately after the last winnning trade would now be at -15%. Could they handle that? How should they manage such an eventuality etc etc. This method has gone nearly a whole year in the past and been in serious negative territory (I think -12% from memory) so it still sits within its long term performance parameters. Would still be good to break the drought though!