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TEB sytstem

  • #2,081
  • Aug 7, 2007 3:11am Aug 7, 2007 3:11am
Quoting iandekoker
If you look at gbp/usd 4hr chart on monday 6 aug around 12:00 then you will see a nice little hammer followed by a bullish engulfment. that trade would have given you close to 244 pips depending on where u entered.
I think you mean there was a bearish engulfing pattern yesterday on GBPUSD, unless the time on your chart is significantly different from mine as yesterdays move was down.

G-Man
  • #2,082
  • Aug 7, 2007 3:13am Aug 7, 2007 3:13am
[quote=Rocroy;1526612]How do you use the 15M chart for entering, or is it necessary to check that at all?

I only look at the 15 & sometimes the 5 when I am following what's going on with prices right after major new's releases (other than the NFP). It gives me a chance to possibly get in on some nice pip moves as long as there are nice 'incrimental' moves and no severe spiking. They show up on the smaller time frames.
Otherwise I am happy with the 4/30 (and I'll keep my eye on the 1hr just for giggles)

And like you, chart patterns are not my cup of tea. I go bonkers waiting for a "Dark Cloud Cover" or a 'Harami' or 'Shooting Star' to show up! I'll take MMA's anyday, whether it's Guppy, Cornflower, or TEB3, which of course is my favorite because it's nice and simple AND IT WORKS!
  • #2,083
  • Aug 7, 2007 3:30am Aug 7, 2007 3:30am
Quoting G-Man
I think you mean there was a bearish engulfing pattern yesterday on GBPUSD, unless the time on your chart is significantly different from mine as yesterdays move was down.

G-Man
at 04:00 there was a shooting star confirmed by the bearish engulfment at 08:00 on IFX charts
  • #2,084
  • Aug 7, 2007 6:26am Aug 7, 2007 6:26am
Attached Image (click to enlarge)
Click to Enlarge Name: gu.jpg Size: 55 KB


GbpUsd 4 hour

But lots of interst rate stuff today

TEB
  • #2,085
  • Aug 7, 2007 9:45am Aug 7, 2007 9:45am
Quote
And if you get into a trade too late u risk being part of the group called "Buy on greed, Sell on fear".... meaning by the time you enter the market the big boys are already taking profits....so the market goes against you.....something most part time traders get caught up in on a regular basis.
iandekoker, that is only true if you're too late. one trader once said that you don't want to come to the party the first one, and you don't want to be late to the party either, so the perfect way is to be there in the middle. just another view, it all depends on what sort of a person you are, risk lover or risk averse. from my own experience i can say that always trying to be there first is riskier than waiting for confirmation.
Trax Tibidax Tibidox...
  • #2,086
  • Aug 7, 2007 11:54pm Aug 7, 2007 11:54pm
Hey TEB, did you used to trade other items before trading FX?
  • #2,087
  • Aug 8, 2007 11:45am Aug 8, 2007 11:45am
Many signals today with the TEB2 method. Also the exits were in line with the exit rules.

Many thanks to TEB and others for all their efforts.

I reached the conclusion that this system is as good as it gets in the FX world
  • #2,088
  • Aug 8, 2007 11:11pm Aug 8, 2007 11:11pm
hey serio...what time frames are you using for TEB2?
  • #2,089
  • Edited 6:47am Aug 9, 2007 4:52am | Edited 6:47am
Could not agree more...

A LOT of pips today... six trades, shorted all majors and eurjpy and gbpjpy

R

Quoting sertio
Many signals today with the TEB2 method. Also the exits were in line with the exit rules.

Many thanks to TEB and others for all their efforts.

I reached the conclusion that this system is as good as it gets in the FX world
  • #2,090
  • Aug 9, 2007 11:11am Aug 9, 2007 11:11am
Quoting vder
hey serio...what time frames are you using for TEB2?
I use 4H and 30m. Also sometimes I see at the daily but my main tool is the 4H and the trigger is the 30m.

It is exactly as TEB said. There are times when you can cheat a bit (i.e. when not both stochs cross on the 30m) and still make money but if someone follows the rules it is good as it gets ( I said that yesterday but i truly believe it and I trade the FX for a bit over 2 years now).

In addition, spend some time (5-10 mins) before you start trading and try to spot the 4H channels. Every day there will be definetely 2-3 pairs that form decent 4H channels (by decent I mean at least 2 tops and 2 bottoms). When you find them, use them. It is almost a crime for somebody not to use the 4H channels when spotted.
  • #2,091
  • Aug 9, 2007 8:38pm Aug 9, 2007 8:38pm
hey sertio thanks for the reply. When you say you can cheat a bit, can you show me a chart? if they don't need to cross, what do you use as the trigger? a candlestick or some formation?

with regards to the 4hr channel, do you use it with teb2?

thanks.
  • #2,092
  • Aug 10, 2007 2:37pm Aug 10, 2007 2:37pm
Quoting vder
hey sertio thanks for the reply. When you say you can cheat a bit, can you show me a chart? if they don't need to cross, what do you use as the trigger? a candlestick or some formation?

with regards to the 4hr channel, do you use it with teb2?

thanks.

I mean when the 5.3.3 crosses on the 4H but the 14.3.3 has not completely crossed (cheating). But you should be almost sure than the cross is about to happen. Yes, always candlesticks are a great tool to use, especially if the second cross is about to happen. And not any advanced techniques, just the basics (bullish/bearish engulfment, hammers etc)

Yes I use the 4H channel with the TEB2. The 4H channel should always be used with all systems not just TEB2. Imo is the one of the best available tools
  • #2,093
  • Aug 10, 2007 4:58pm Aug 10, 2007 4:58pm
I am new to forex and right now just have practice account. Will this work in 3hr interval? My software only lets me choose this or 1hr, 15 min, 5 min, 1 min. Could you let me know.
Many thanks,
K
  • #2,094
  • Aug 11, 2007 2:23am Aug 11, 2007 2:23am
hi TEB,

thanks for sharing this nice method...1,2 & 3 all of them are great!

*
if anybody can make the TEB3 MA cross alert (line) for weekly & daily cross this should be great...so that we only wait at H4 to pull the trigger...no need to switch timeframe.

thanks!
  • #2,095
  • Aug 11, 2007 2:31am Aug 11, 2007 2:31am
You're right.... candlesticks are not the topic of this thread. And just because some guy named Nisson wrote a book about random candlestick formations and dressed it up by saying Japanese used it to predict rice markets is meaningless.

Candlesticks without volume is pure luck. Show us all your failing candlestick patterns while you gloat of their successes.

Quoting iandekoker
Maybe u didnt now study candlesticks properly or your mentor did not show you how to recognize candlestick formations.

If you look at gbp/usd 4hr chart on monday 6 aug around 12:00 then you will see a nice little hammer followed by a bullish engulfment. that trade would have given you close to 244 pips depending on where u entered.

Eur/jpy. had the exact same formation that would have given u around 161 pips depending where u entered.

Usd/jpy gave you the 3 white soldiers formation...offering 116 pips.

Nzd/jpy had the exact same formation offering you 167 pips.

Aud/jpy had the same formation offering 115 pips.

Usd/cad and Eur/cad and eur/aud had nice bearish engulfments offering between 50 and 100 pips each

Eur/chf has a bullish engulfment offering 50plus pips

Yesterday was a very easy trading day in which you could have made LOTS of pips by just following basic candlestick formations as presented on the 4hr charts.

If i may be so blunt....see if you can find someone trading candlesticks successfully...and sit next to him while he is trading....a whole NEW WORLD will open up to you

anyway candlesticks are not the topic of this thread....i wish u all good trading
  • #2,096
  • Aug 12, 2007 6:41am Aug 12, 2007 6:41am
Quoting tdion
You're right.... candlesticks are not the topic of this thread. And just because some guy named Nisson wrote a book about random candlestick formations and dressed it up by saying Japanese used it to predict rice markets is meaningless.

Candlesticks without volume is pure luck. Show us all your failing candlestick patterns while you gloat of their successes.
I couldn't agree more!
  • #2,097
  • Aug 13, 2007 11:56am Aug 13, 2007 11:56am
hi dear friends
whould u please tell me in which page i can find the complete rules an possible indicators related to this system?
thx
  • #2,098
  • Aug 13, 2007 12:06pm Aug 13, 2007 12:06pm
Quoting bshadroo
hi dear friends
whould u please tell me in which page i can find the complete rules an possible indicators related to this system?
thx
TEB1 is at the beginning of this thread
Teb 2 is @ http://www.forexfactory.com/showthread.php?t=20975

I don't remember where TEB3 is at, but most are using either TEB1 or TEB2
  • #2,099
  • Aug 13, 2007 6:24pm Aug 13, 2007 6:24pm
Quoting kfranc01
I am new to forex and right now just have practice account. Will this work in 3hr interval? My software only lets me choose this or 1hr, 15 min, 5 min, 1 min. Could you let me know.
Many thanks,
K
I don't know where you have your demo account but it seems limited in the chart platform from your description. Many traders/investors use Metatrader4 platform. One place you can download one is from Alpari as an example:
http://www.alpari-idc.ru/en/metatrader/

Since you're a newbie I suggest strongly you start using a charting platform that gives you more advantages than seemingly your present one does such as the ability to download and paste various custom indicators you will frequently find here in the FF.

Perhaps others will have suggestions for you as well. The Forex is difficult as is without making it harder by not having a good charting platform.
  • #2,100
  • Aug 14, 2007 5:42pm Aug 14, 2007 5:42pm
Quoting Flamenco143
TEB1 is at the beginning of this thread
Teb 2 is @ http://www.forexfactory.com/showthread.php?t=20975

I don't remember where TEB3 is at, but most are using either TEB1 or TEB2
If you've got a day job and can't look at the charts all day, TEB3 is good for that. http://www.forexfactory.com/showpost...postcount=2013
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