TEB sytstem

Man, Teb, you are one innovative trader - always coming up with a different system - the best part is that you're mostly successful. congratulations.

eur/usd buy @ 1.460
Aud/usd buy @ .8972
teb

Close aud/usd @.9000
TEB

Bough the eur/usd @1.4610not 1.4600) & sold 1.4520
TEB

Hullo TEB
Always fascinated to read about your trades.

Can you explain a bit about your preferred 'signals/signs' and candle patterns: #2309 #2311, #2327, #2338 etc?
They ceretainly work for you!

TEB Forgot to ask ;what is your time relative to GMT?

Thanks
R

WHY?

Too late??

rorieu

Intersting web @ system I came a cross today
it works quite well
I would exit when the 5min crosses back

3 ducks system
http://captaincurrency.blogspot.com/


Firstly I would like to say, I did not reinvent the wheel with this system, I have just added one or two ideas to a 60 period simple moving average (sma) to make it my own and named it "The 3 Duck's Trading System" for obvious reasons as you will find out later on. The system is fairly straight forward and easy to use. Like a lot of trading systems it will be more productive when prices are moving in one direction and not stuck in a tight trading range. Of course this system has losing trade and losing runs, but with proper money management and good discipline I'm sure this system will keep you out of bad trades and give you a great chance to make profits in the Fx market. One of the nice things about this system is it will quickly tell you if prices are in an up or down swing phase and stop you from guessing! It will also allow you to decide to be a bull or a bear and trade in the direction of that trend. There are 3 charts involved in this system: a 4hr chart, a 1hr chart and a 5min chart. There is 1 indicator, a 60 period simple moving average (60 sma) plotted on each chart. There you go, its that simple.

How it works:


Step 1 - First Duck
http://bp0.blogger.com/_o93gCdxWKlc/.../4hr+cable.bmp
The first thing we need to do is look at our largest time-frame (4hr chart) and see if current prices are above or below the 60 sma. From this chart we can see that current price is below the 60 sma. This tells us that we maybe looking to sell.







Step 2- Second Duck
http://bp3.blogger.com/_o93gCdxWKlc/.../cable+1hr.bmpThe second thing we need to do is drop down to our 1hr chart. We need to see the current price below the 60 sma on this chart also, this gives us confirmation.
Important: If the current price was to be above the 60 sma on this chart we could not move on to step 3.



Step 3 - Third Duck
http://bp1.blogger.com/_o93gCdxWKlc/...5min+cable.bmpFrom step 1 and 2, current prices need to be below their 60 sma's on each chart. We are now on the 5 min chart and we are looking to sell when price crosses below the 60 sma. For extra confirmation we should let prices break the last low on the 5 min chart. This would mean that prices will be below their 60 sma on all 3 time-frames, therefore all 3 Ducks are lined up in the same direction.


Stop-Losses: This is where you can make this system your own. If you are a short term trader you may want to put your stop-loss above the highs on the 5 min or the 1 hr chart. If you are more of a positional trader you may wish to put your stop-loss above a high on the 4 hr chart. You could also use a fixed stop-loss, maybe 25-30 pips or more from entry. It all depends what type of a trader you are, so you decide! If you are a longer term trader or investor, this system can help you get a good entry point into the market. Another "trick" that may help you preserve capital, If you do sell and prices get back above the 5 min 60 sma by 10 pips (not a good sign) you may want to cut your losses short before your stop-loss. But if you are a longer term trader this may not be a big deal for you.


Targets: Same again, depends what type of a trader you are but target can be support or resistance levels.


Summary: The above example was carried out when the gbp/usd was trading lower so obviously we where selling - the system works just as well for buying opportunities, just look for prices to be above the 60 sma on all 3 time-frames, starting with step 1 again. I like this system a lot as it does not try to out-guess the markets movements and pick tops and bottoms. The system will quickly tell you to be a buyer or a seller. Its a good honest system that tries to follow prices. This system works better on currency pairs such as the Eur/Usd and Gbp/Usd, but there is nothing stopping you from plotting this system on any pair, but as we know some pairs act differently to others. The best time I found for trading this system is the European and US sessions. I lke to use this system as a guide in addition to my own market knowledge. Take care to watch what is going on around you - economic new releases, holidays etc.

by Captain Currency

can I ask which of your systems indicated this sell? Seems like it was the mtf stochs, but wanted to confirm. It's going against the Daily TF, right? And have you exited now that 30 has turned? Trying to learn. Thanks!

And thank you for your systems and contributions!!

please i want to read your 3 ducks system ebook.

hi there ..

its not my e-book ..I didn't write it
... its not even my main system I am using

go to the 3 ducks thread you will find it there

cheers

Hello everybody !

I was wondering if anyone might have a stoch cross indicator/ audible alert for the Metatrader4 platform ?

I am personally still doing well using this system, using mainly 4 hour stoch, 1 hour and 30min. Mainly Eu/Yen and volatile pairs. Will want to try if I can improve my entry with such an indicator/ alert everytime there is a stoch cross on the 30 min chart.

Would be great if somehow available.
Thank you and happy pippin' to you.

hi TEB,

i'm using oanda too, as You know there is no 4h TF but 3h frame. Does it work same as 4 hr?

thanks in advance

hi there

yes it still works

or open up a demo
just go to FXDD web page


TEB

Hi Teb.

Thanks for the nice thread. I have not read thru the whole of it yet but have allready realized there are several diferente systems on discussion here. I find it ok, but would like to know which one is your ''main system'' and what are the rules of it.

Thanks in advance

I'm using TEB on the lower timeframes 5m,15m,1H with an eye on the 4H and D1.

I have noticed that the oversold (below 20) and overbought (over 80) levels can serve as a marker to support/resistance. And keeping an eye on divergence on the 15m is helping with the confidence of the 5m signals.

After hitting support and coverging and getting 3 blue signals lining up... I went long at .9950 and took profit at the 80 handle... sure enough overboght signals showed up.

I've averaged 6% a day on my real money account this week in a "trade as I study" this system. So far, I haven't had a losing day yet with very low drawdowns.

Can u put here those indicators? There are very interesting!

Here you go...

to stack the indicator... drag the indicator onto itself (same indicator pane) and change the timeframe and Vert Shift to 2, 3, 4 or whatever.

GRATIA!

I became familiar with the TEB system about a year ago, but never really got it going for me. But recently, I started fooling around with it as a longer term trade, using the weekly and daily charts. I guess it's more of a TEB 2 system. Anyway I have had very promising results backtesting several pairs from the first of this year till now.

The way I tested was like this. I determined the direction of the weekly and only took daily signals in that direction. On each signal that was generated, I took a one lot trade on the next candle that broke the high or low of the signal candle. I set a fixed stop at around 80 to 100% of the pair's Daily ATR depending on the pair, and set the limit at twice the stop. There were no add ons, no trailing stops, and no scaling out or taking early profits. Six pairs were tested. There were 64 trades, with 36 winners for a 56.3% winning percentage. The total profit was 6,025 pips. There was a fairly hefty 1,725 pip drawdown, the result of a stretch of ten losers in a row.

I think this is pretty exciting for a set it and forget it approach. Something to think about is that I used almost no discretion in these test trades. If it was a signal, I took it, no matter where the stoch cross occurred. A little discretion and some more logical stop and limit placement might produce a better winning percentage and a better return per trade, which by the way was about 94 pips average.

Is anybody else trading this method like this? I'd like to hear from and exchange ideas with those who might be, or even might be interested.


Cheers,
Richard

Richard,

I havent read this whole thread yet - so I ask what determines your Weekly trend and entry signals?

I am partcipating and reading another current thread by TEB - the world simplest system - which uses the 1,2,3 reversal price pattrern and can combine it with a 200ema onto 3 time frames to determine the trend.

So say Monthly and Weekly price are above 200 but daily below 200, then look for a long entry on the daily.

As i undestand it this system is about using Multiple Time frames?

regards

Red