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World's Simplest System

  • #281
  • Mar 11, 2008 3:06am Mar 11, 2008 3:06am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting redart007
Thats at very well - but you need to be looking at two time frames above...

There was a great setup in Feb when the 4hr started testing (rising above) the 200ma and the daily and weeklys price was below the 200ma - which is the premise of this system...

Think you need to re-read the orignal rules and read the 3 ducks system so you understand the setup properly - Fib etc help get you in and out.

regards

Red
i didn't think all the trades were being taken over the 200ma. thanks for pointing that out

Had a great trade of the GU daily cross over the 200 though. so loving the simplicity of this.
  • #282
  • Mar 12, 2008 7:46pm Mar 12, 2008 7:46pm
Hi redart007,
Thanks for your advice.
I will try to testing this strategic by the demo account.
Please correct me if i am wrong.
short entry,
when the weekly tf and daily tf chart is below the 200EMA and 4 hour tf chart is above 200EMA. wait until 4 hour bar cross the below 200EMA then using MT4 fib default setting to set 0 to inside day high and 100 to inside day low.
First TP is fib 161.8 and second TP is 261.8. SL is above two pip from fib O(meaning that if high inside the day is 180.00, then our SL is 180.02)
  • #283
  • Mar 12, 2008 7:47pm Mar 12, 2008 7:47pm
Here i have few question need to ask;
1) We set the fib when 4 hour bar cross the 200EMA or wait until completed bar is below the 200EMA?
2)What timezone for this strategic? GMT 0?
3)Which pair currency suitable for this strategic?
  • #284
  • Mar 12, 2008 7:47pm Mar 12, 2008 7:47pm
Hi TEB63,

I really interested for this WSS, because i try to backtesting it and feel that can work.

How long you test this strategic? May i know the winner ratio is 5:5 or not?
Thanks.
Have a nice day all
  • #285
  • Mar 12, 2008 8:44pm Mar 12, 2008 8:44pm
Quoting HLAng
Hi all,
Anyone can teach me how to setup this strategic?
Bcos i really not so understand even i read all the thread. Any one can simple explain how this strategic work? Please advice. Thanks.
read post 1,2,3,4 & 158

teb
  • #286
  • Mar 12, 2008 8:51pm Mar 12, 2008 8:51pm
Quoting HLAng
Hi redart007,
Thanks for your advice.
I will try to testing this strategic by the demo account.
Please correct me if i am wrong.
short entry,
when the weekly tf and daily tf chart is below the 200EMA and 4 hour tf chart is above 200EMA. wait until 4 hour bar cross the below 200EMA then using MT4 fib default setting to set 0 to inside day high and 100 to inside day low.
First TP is fib 161.8 and second TP is 261.8. SL is above two pip from fib O(meaning that if high inside the day is 180.00, then our SL is 180.02)
in fact the idea is to get it before price crosses the 200 on the lowest TF as we normally see a big move as it crosses .

you are in on the 1.2.3 system not the 3rd crossing (like the 3 ducks)

also I don't use fibs at all I use the tool but that is it,
I use 0, 50, 100, 200, 300 none of which are fibs

cheers

teb
  • #287
  • Mar 12, 2008 8:58pm Mar 12, 2008 8:58pm
Quoting redart007
Its simple really - 3 time frames - in the 2 greater time frames the price should be above or below the 200ma - the lowest time frame it should be opposite to the 2 greater - thats the setup, then look for an entry and exit based on S/R or fibs or whatever

See my post 279 - read the first part of the thread and read 3 ducks system which this system is based on...

regards

Red
this system is not baced on 3 ducks ... the old 200 ema is one of the oldest trading systems there is.

but in fact the 2oo emas are not really the heart of the system rather it is an even older system the "ol' 1.2.3 trading systen" . ...which goes back to
atleast as far are candles trading in Japan. and some prove Romes used it at the time of Christ

cheers


teb
  • #288
  • Mar 12, 2008 9:07pm Mar 12, 2008 9:07pm
Quoting HLAng
Here i have few question need to ask;
1) We set the fib when 4 hour bar cross the 200EMA or wait until completed bar is below the 200EMA?
2)What timezone for this strategic? GMT 0?
3)Which pair currency suitable for this strategic?

1. I always wait for it to closes
3. pairs I personally like the trending pairs
E/U, G/U, U/Ch, U/J, E/J, G/J U/C A/U, Z/U
2. Time zones really doesn't 't matter on 4 hours or more
less then that just stay away from 12-5 pm est
teb
  • #289
  • Edited 7:23am Mar 13, 2008 4:22am | Edited 7:23am
TEB, after having read the thread and 123 PDF, I was very interested in the WSS and yesterday spotted an opportunity to use it.

Seeing the EURCHF daily and 4hr below the 200ema, I took 2 trades based on price being above the 200 on the 1hr. I know that might be dropping down somewhat but I was keen to trial WSS and the SL was quite small.

I have just closed the 1st (riskier entry) lot for +145 at 1st Target.
The 2nd (safer entry) lot is +109 (SL now at +50) en-route for the 2nd Target. UPDATE @ 12:22 GMT: 2nd lot Stopped out at +50.

I love the simplicity of this method and will be using it more.

Thanks TEB! - any comments to help me optimise the way I trade WSS would be appreciated.
WSS Debut Trade.jpg
Attached Image (click to enlarge)
Click to Enlarge Name: WSS Debut Trade.jpg Size: 280 KB
  • #290
  • Mar 13, 2008 9:13am Mar 13, 2008 9:13am
Hello TEB63,

Quote
Time zones really doesn't 't matter on 4 hours or more
less then that just stay away from 12-5 pm est
teb

Please, would you mind to tell me :

1) what you mean by less than 4 hours TF just stay away from 12-5 Pm Est ?

2) Is it a real fact, I mean that trading in the 12-5 Pm Est zone gives you a worst win/loss ratio, worst Risk/Reward ratio..etc...?

3) Whatever the TF, do you trade during days of MAJOR news release ?

Thanks

Happy trading

Angel65
  • #291
  • Edited 3:37am Mar 15, 2008 3:29am | Edited 3:37am
TEB,

I really like this method and am working hard on it. Thanks for the posts that have helped me learn more.

What is the reason you have replaced Fib levels (on the Fib tool) with 200 & 300 levels that we use as Take Profit targets when using WSS?

Thanks in advance.
  • #292
  • Mar 15, 2008 10:04am Mar 15, 2008 10:04am
Quoting priceaction
TEB,

I really like this method and am working hard on it. Thanks for the posts that have helped me learn more.

What is the reason you have replaced Fib levels (on the Fib tool) with 200 & 300 levels that we use as Take Profit targets when using WSS?

Thanks in advance.
They are where I plan of getting out of the trade -targets
short term time frame trades ie, 1.2.3 I look I use 300%

For reverse trend line break and higher time frame trades
of either main kind or Head & sholders W or M trades I use the 200%

TEB
  • #293
  • Mar 15, 2008 10:57pm Mar 15, 2008 10:57pm
TEB.. how we should now when looking at the chart... we should buy trap or we should do a sell trap.

Is it been filtered by 200SMA..
Novice Trader
  • #294
  • Mar 16, 2008 1:42am Mar 16, 2008 1:42am
Hi TEB,
what do you do when daily and weekly chart show side way ? Can we use this method in houly or 30minut charts?

Thanks,
  • #295
  • Mar 17, 2008 9:51am Mar 17, 2008 9:51am
Quoting priceaction
TEB, after having read the thread and 123 PDF, I was very interested in the WSS and yesterday spotted an opportunity to use it.

Seeing the EURCHF daily and 4hr below the 200ema, I took 2 trades based on price being above the 200 on the 1hr. I know that might be dropping down somewhat but I was keen to trial WSS and the SL was quite small.

I have just closed the 1st (riskier entry) lot for +145 at 1st Target.
The 2nd (safer entry) lot is +109 (SL now at +50) en-route for the 2nd Target. UPDATE @ 12:22 GMT: 2nd lot Stopped out at +50.

I love the simplicity of this method and will be using it more.

Thanks TEB! - any comments to help me optimise the way I trade WSS would be appreciated.
WSS Debut Trade.jpg
From this WSS TF is 4H, Daily and weekly.
Are you using TF for 1H,4H and daily?
Any one can help me which time frame is better for this strategic?
Thanks.
  • #296
  • Mar 17, 2008 10:16am Mar 17, 2008 10:16am
Quoting HLAng
From this WSS TF is 4H, Daily and weekly.
Are you using TF for 1H,4H and daily?
Any one can help me which time frame is better for this strategic?
Thanks.
Hi HLAng,

In Post #1 of this WSS thread, TEB said;

"4 hour 1 hour 15 is the main one I use.
Can use any three."

For the WSS trade that I posted below (#289), I used 1Day, 4hr, 1hr.

However, when I look at the charts, I start with the weekly and drill down through the time frames until I find a set-up that looks 'comfortable'. E.G. I might see price above the 200 ema on wkly, daily, 4hr and 1 hr (4 time frames). If price was below the 200 ema on the 15 min, I would seriously consider this as a WSS trade as I have more reassurance from more time frames.

Essentially though, it's three time frames that we need to look at. Andy Perry (AKA Captain Currency http://captaincurrency.blogspot.com/) also recommends 3 time frames in his ebook, which is what TEB's 3 Ducks thread is based upon. The 3 time frames that Andy talks about are 4hr, 1hr and 5 min.

I am new to these methods and am still experimenting on what works best for me.
Attached Image (click to enlarge)
Click to Enlarge Name: 6c5792b4-dfb4-472a-9a7f-9ead39de7992_ed2387b9-8f8b-444e-aebb-9edada2e6328_static_0_0_image.png Size: 196 KB
  • #297
  • Mar 17, 2008 10:25am Mar 17, 2008 10:25am
Quoting priceaction
Hi HLAng,

In Post #1 of this WSS thread, TEB said;

"4 hour 1 hour 15 is the main one I use.
Can use any three."

For the WSS trade that I posted below (#289), I used 1Day, 4hr, 1hr.

However, when I look at the charts, I start with the weekly and drill down through the time frames until I find a set-up that looks 'comfortable'. E.G. I might see price above the 200 ema on wkly, daily, 4hr and 1 hr (4 time frames). If price was below the 200 ema on the 15 min, I would seriously consider this as a WSS trade as I have more reassurance from more time frames.

Essentially though, it's three time frames that we need to look at. Andy Perry (AKA Captain Currency http://captaincurrency.blogspot.com/) also recommends 3 time frames in his ebook, which is what TEB's 3 Ducks thread is based upon. The 3 time frames that Andy talks about are 4hr, 1hr and 5 min.

I am new to these methods and am still experimenting on what works best for me.
Thanks.
I will try to change the time frame to daily,4h and 1h to testing it.
but previously i use tf for weekly,daily and 4h this WSS strategic is can work.
but the signal very less.
Hope that daily, 4h and 1h can give me more signal and earn more pip. cheers
  • #298
  • Mar 17, 2008 5:44pm Mar 17, 2008 5:44pm
Quoting HLAng
Thanks.
I will try to change the time frame to daily,4h and 1h to testing it.
but previously i use tf for weekly,daily and 4h this WSS strategic is can work.
but the signal very less.
Hope that daily, 4h and 1h can give me more signal and earn more pip. cheers

why not trade both sets of time frames ?

cheers

TEB
  • #299
  • Mar 19, 2008 2:38pm Mar 19, 2008 2:38pm
EURO/USD seems like a good candidate for this system. it's goin through a big retracement right now. what timeframes do you think I should use for my entry point?
  • #300
  • Mar 19, 2008 4:32pm Mar 19, 2008 4:32pm
Quoting strautsbros
EURO/USD seems like a good candidate for this system. it's goin through a big retracement right now. what timeframes do you think I should use for my entry point?
I went short on usd/jpy today.

4hr/1hr/15min tf's
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