Just had all my Euro trades from yesterday
taken out At 1.3630
TEB
taken out At 1.3630
TEB
Teb:tweedle-dee System 9 replies
Teb 4MA System 4 replies
TEB simple system 42 replies
TEB trading group 28 replies
DislikedTo one and all
With NFP throw out the stochs & even the 4 hour channel out the window.
This is where the big boys steal everyones money
in the USA people have beer parties in hotels & "bet" on this.
it is wild.
But in the end of the day it changes nothing
90% everything is back to the same Monday or before.
I think the cable & the Euro will keep moving up to 1.37 & even 1.4
& this is just a buying chance.
The reason I took 2.0125 is it was the bottom of the 4 hour channel
I think it will brake it... but at the very least it will test it
But I could be wronge!!
TEBIgnored
DislikedHey Teb,
I read the thread last night and drew all my trendlines and channels where i could today. When i saw cable didn't break the 4hr , i got in about the same time at you at 63. Did the same on the EURO and closed both for a load more pips than i'm used too.
Thanks for the thread and its evolution, i'm using stochs now and will see how it goes, thanks.Ignored
DislikedThere goes all my Cable Trades
I think it will keep going up but I don't need to be greedy
I am done for the week !!!
I was very very luck this week I got every trade- right!!
That is the power of the trend & channels
BUT its not like that every week
any questions I will be back in 15 mins
other wise have a great week
TEBIgnored
DislikedCongrads to all who made profits, and thanks TEB for sharing your knowledge. What seems to confuse me is the way the channels are drawn. I always used to think that in an uptrend, you put a line through two higher lows as your base and put a parallel to it on the highest high (opposite for the downtrend), but from the screens posted on this thread I've seen all sorts of ways. So, this brings me to a conclusion that I don't quite understand the theory of channel drawing. Could anyone post an explanation or a link where there is a clear and precise explanation on how to draw channels correctly? Thank you.Ignored
DislikedHi TEB,
Just joining the fun on your thread! Started reading from the beginning the other day. BOY ITS LONG. So, I skipped ahead starting yesterday. It's staying power may be a testimony to the value it has. Thanks for sharing your trading with all of us.
It seems that your trading has evolved since the beginning days. Will you please post a summary of how you are trading nowadays so I can better follow along? A couple of posts really got my attention...
You mentioned focussing more on channels and using indicators (Stoch) as a secondary thing. Also, are you looking more and more on the topdown analysis using the weekly, daily, 4hr charts?
(Hey, how do you post a chart? Will someone be so kind as to tell me how to do that. Thanks!)Ignored
Dislikedhey teb...i keep missing those nice moves, I guess i need to be awake during the euro session. Tell me, how do you determine if something is ranging and therefore don't trade.
take care.Ignored
DislikedI have alway done top down I believe it is by far the best.
I always begin at - atleast with the week - I will go to the month if I need to.
pro trade have what they call the "4" And like 90% use it
in stoch, bonds , grains, gold - you name it & it is the standard
& it works the best in 4X for sure because 4X is the best trending of them all
simpley put it is -
the week, the day, the 4 hour, the hour.'
It is what is tought on wall street as the "right way to trade"
other stuff is added but it is the base!
and once you understand it it make trading very doable
TEB
Ignored
Dislikedwhat charting system are you using?
what I do is use one chart
& move the time frames
I put a line on it to show me where it is on that time frame
& them move down to the the 30 min chart
the two lines you see on my charts are
- the big one is from the day chart stoch
- the thin one from the hout chart stoch!
- the arrows are the 30 min stoch
again I find it better to do it by hand then to have the system do it
it worked out at 5.4 pips per trade over the 43 trades
I did both in trading to see if they were the same
- but both ways were winners big time
does that help youIgnored
DislikedHi TEB, thank you for sharing your wisdom and knowledge of your MTF channel/trend method.
Regards to channel drawing, I've been very pleased with SHI channel indicator. And I was wondering if some one can modify the program so that it can be used as MTF, just like what IVY has done with his MTF Stochastic indicator.
It could save us so much time if we can have MTF channels (Weekly, Daily, 4H & 1H) drawn automatically with this indicator.
TIA,
Andy LeeIgnored