making a killing!! in this market prt 2

ok thanks for clearing that up

Teb63,

Where can we go to see your teb2 system? What is the link to that thread?

What does "making a killing in this market" mean?

Double the account each month? Tripling?

Interested in metrics here.....

What does he do? (its Mark McRea right?)
I would like to know?I think the 5/6 might be good Idea I will play with
that over the weekend.

I know he does the channel & 5/6 ema thing.
is that whay you mean?

TEB

Hello,
My question is about the mechanics of the chart.
Do you have 5 charts up and just page through each TF looking for confirmation?
I just loaded the Dashboard after the markets closed. How is it used?
Is there a dash in the left upper corner for each TF?
Is black unselected, green a buy condition, & red a sell?
Are all the dashes green when it is a buy condition and red in a sell?
On a previous chart of Making a Killing (previous edition)
there were thick and thin vertical lines and large red and blue arrows.
Were these for illustration, or were they part of an indicator?

My primary method of trading is using PA, S/R and trendlines. It is traded in my primary account, the rules are set and don't change. The only thing changing in this account is my ability to see PA, S/R & trendlines more clearly. Oh yea and my account balance, it keeps growing.

I do try different methods in a secondary account. This method seems to have potential to make significant pips, so I am evaluating it.
Thanks for any help.
Roy

How do you know where some thing is going? -
well one never does but we can have a good idea

look at this chart I always start with 4 hour

you want to use normal settings to see a trend in the market
The Eur/Usd is the " base & the simplest"

now look at this

1. look @ the 4 hour channal I think this is the most important one (pink lines)
a. it is at the bottom line
b. it has bounces!!!

2. is the emas 200 black, 100 red , 50 blue
a. all three are stacked up
b. price has bounced off the 200ema!!

3. Candles are in an up movement & up formation

4. the Stoch is moving up -
is in over buy but just & has a long way to go

5. the Macd is moving up
- hasn't broke the water line but is up
- no big"D"

6. the RSi is moving up-
I think it would be over the 50% if it wasn't fri. afternoon

things look good for it going long.


also I check on the day

1. the candle & candle formations ( 3 candle reversal )

2. 3 emas
a. are they staked
b. where price is to the 200

I want like the candles & emas the same on the 4 hour & the day


and all are up !!

TEB

amen brother.

The eur/Usd
Which way will it Go?
I think it will go up.
starting monday
The chart seems to say yes
also the Usd is doing a Rate cut.
the question iswill it be .25 or .50
many people are prising inb .5% so if it is only .25%
we may see a a little bounce



Two lines are the two 4 hour channels
which ever price brakes 1st.. I think we will see the eur go that way.
use the other channel line as a SL

TEB

A Different Type of Moving Average Cross

Virtually every trader has dabbled with or experimented with some sort of moving average. What I want to introduce you to in this lesson is a different sort of moving average cross method, which I have found to be very good at identifying short term trend changes.

As we know a moving average is normally plotted using the close of a bar e.g. if you were plotting a 3 period moving average, then you would add the last three closes and divide the total by three to get a simple moving average.
This is where I want you to think a little differently.
I have always been an advocate of taking traditional thinking and changing it around.
What if you used the open instead of the close? What if you used the close of one period of a moving average and the open of another?
First, most charting packages will allow you to use the open, high, low or close to plot a moving average.

In the example below of the daily Dow Jones, I have used a 5 period exponential moving average of the close and a 6 period exponential moving average of the open. As you can see it catches the short term trend changes really nicely.

http://www.forexfactory.com/mhtml:fi...images/dow.gif

In the next example of the 1 hour EUR/USD, you can see that the close/open combination worked really well.
Of course you will go through periods of consolidation with any market and any moving average method you use will be whipsawed. To get around this you need some sort of filter or approach that helps you keep out of the low probability trades.
You could use ADX, Stochastic or MACD to help filter the noise but I also like to add a time frame.

http://www.forexfactory.com/mhtml:fi...ages/eurco.gif

In the next example of the 4 hour GBP/USD you can see that on the 24th September 04 at 4:00 there was a cross of the 5 period exponential moving average of the close above the 6 period exponential moving average of the open. This signal has remained in place until today as I write on the 27th September.

http://www.forexfactory.com/mhtml:fi...gbp4hourco.gif

Although there was a signal on the 4 hour, to help identify even better entry points you can drop down a few time frames to the 30 minute chart. As you can see from the 30 minute chart there have been quite a few crosses of the 5 period exponential moving of the close above or below the 6 period exponential moving average of the open.

http://www.forexfactory.com/mhtml:fi...s/gbp30min.gif

There are lots of ways to trade this but a neat little trick is to wait for the signal on a higher time frame and then drop down a few time frames and wait for a pullback. The first signal after the pullback on the lower time frame is normally a pretty good entry point e.g. If there were a cross up on the large time frame then drop down to a lower time frame and wait for the market to retrace and then give another buy signal (cross up). The opposite is true for short signals.
Once you get the signal on the shorter time frame depending on where support is you can usually place your first stop loss under the nearest support area (valley). If the market begins to make progress you can move your stop so that it trails the market by moving your stop to just under the most recent support area.
In this lesson I have use an exponential moving average but experiment with different types of average such as weighted, smoothed or simple. You can also experiment with different lengths of moving average.
Good Trading
Mark McRae
Information, charts or examples contained in this lesson are for illustration and educational purposes only. It should not be considered as advice or a recommendation to buy or sell any security or financial instrument. We do not and cannot offer investment advice

Ok here are the 4 chart again

Teb63,

Where can we go to see your teb2 system? What is the link to that thread?

Hi teb63,

I think these is interesting system and i will give it a try.
I just add the pivot points and hi and low for the day and it gives quite good signals.

this system is working great this week again :
10 + spred TP
25 SL
(Am staying away from the Jpy crosses)

TEB

this morning
7 winners (74 pips)
no losses
bye
teb

I've noticed Mark McRae has slipped a couple of posts in, be careful this guy is a purveyor of BS.He's just another system seller,the only e-book I ever purchased was his "Surefire forex system", the only thing "sure" about this system was it's ability to loose money consistently.
In the long run MA cross overs and indicator based systems don't work, I've tried them all and now trade profitably using price action only.

TEB63 Sorry for the misunderstanding,I was not implying that you were Mark McRae. He is posting under "Time" and it is only a matter of time before he starts trying to sell something, after I purchase the system, I mentioned, off him I was bombarded with all sorts of "free" and "not so free" offers from him.
When you start out in this business it's easy to get sucked in by the system sellers, so I'm just giving everyone a heads up on this guy.

Dude i am Time and i am not Mark McRae.

Please do not blame anyone if you are so ignorant to buy a black box systems from a complete stranger that you have never seen traded, or have seen his trading account.

Teb63

I guess you are in the right path with another system since no system is ever infallible with time. That is why you you some systems which had done great awhile back now fails because of changing conditions in the market.

Time, My conclusion about your identity came from post #29 and I don't think it was an unreasonable one given you signed off as Mark McRae. If you just posted some of McRae's material then perhaps you should have made that clear in your post. Finally I don't think buying a "black box system" is ignorant just a little naive and most newbies would fall into that category.

TEB63

Sorry to see you go..... Maybe one day when you are ready to trade full-time, you can also tell the powers to be where to go....