Teb, is TEB3 system the one you now use for your trades? Do you still use channels? If no, what was the reason you abandoned them? And do you believe that TEB3 performs better than TEB2? THank you.
First just wanted to say thank you for your input and your continued guidance in helping a lot of us try out your system and for supporting us. I wanted to ask you something TEB, are you using Channels with this? Is this the secret weapon you spoke about sometime ago? To me this system seems very similar to TEB1 but instead of stochs, you are using MAs, is this correct? Are you waiting on 4h crosses to execute the trade or do you wait for them to start pointing in the same direction?
By the way, how long have you been trading?
thanks.
5 yrs FX
It is like TEB1 but it lets the pips run a lot longer
you will have more small loses as well
TEB3 SIMPLE
1. Remove everything from your charts ....I mean everything!!
2. Add two sma 4 closed (Blue) sma 5 open (red)
(if you don't have open & closed then 3 &7 SMA works also)
3. move to the weekly chart get trend (blue & red lines )
4. move to the daily charts to get triggers ( pink arrows)
5. move to the 4 hour to get comformation ( black arrows)
3rd charts
week charts- you see trend blue & red lines only go with them
day charts - are triggers ( pink arrows) & stops (Pink "X")
4 hour - conformations of buy/sell (black arrows)
you want all 3 going the same ways
you are in and out on the day charts.
when the weekly turns you are out big time
you can take 1/2 when the 4 hour turns
or add to your trade when the 4 hour goes the way you want
SL atlease 50pips
TP let it ride.
you will have small loses - & big wins
its that simple.
Attachment
weekly
Attachment
daily
Attachment
4 hour
TEB
:
. But of course my genius is only my ability to synthesize what is put before me. I certainly haven't created anything to date. However, I am having some fun looking at a merge of some of your systems with some old tools I have developed or been working with. Rest assured if I find something with some strong correlation I will not hesitate to share it with the rest of you. . But really, building a tool that applies rules for SL and TP on an existing position using channels we identify to it would allow me to keep a position open with a known self adjusting risk:reward while I'm away at work. I think most people would prefer that to closing a winning position or placing a stop loss, and it would allow you programmers to progress toward something more fully automated anyway.
I would still be a bit careful with the Yen
But the cable- euro, Cad, NZD, AUD
I think are all going to go against the USD-
The USD weekness has not changed
Thats my 2 pips.
TEB
Got a few pips from yen yesterday...
But it's quite difficult to draw a decent LT channel for yen. Using yen price movements from last 8 months only (!) produce a channel saying that it could still come down some 150 pips.
Dollar weekness was again shown in yesterdays us data. Strangely that had no effect on euro. Could that be a sign that euro still want's to drop another 100 pips to LT channel bottom? I would say yes.
R
