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World's Simplest System

  • #541
  • Nov 20, 2008 6:58pm Nov 20, 2008 6:58pm
Quoting ozziedave
Hi Teb,

I've read the tread and this system has alot of potential. I actually was using a system like this but it used the 89EMA as the line in the sand for the traend. It was just look at the daily and when price crossed the 89 EMA enter. Needless to say the 89EMA was too small of an EMA and I got wipsawed to death just by entering blindly after the cross.

Your combination of the 200EMA, 3 time frames and the 123 set up makes alot of sense to me. I used it yesterday and had a +62 pip trade on the GBP.
Keep posting your comments and charts,...

I think the 89 might well work
I think the bigger issue might be 3 time frames

cheers

teb
  • #542
  • Edited 4:22am Nov 21, 2008 3:35am | Edited 4:22am
Hi TEB63!
Just a newbie studing your system ;-)
Do you only consider fractal max or min points to "draw" the 123 pattern or no matter if they are or not fractals?
Sometimes max or min are not fractals, as they are too close...
Thanks!
Trading: the skill of avoiding trades
  • #543
  • Nov 21, 2008 4:20am Nov 21, 2008 4:20am
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The Eur/Usd is worth a watch
1. Bounce off the 4 hour channel
2. RSI over bought
3. candle formation & tail
4. THe 200ema compared to the 1, 4, & day charts 200ema.

but remember its friday

Cheers

teb
  • #544
  • Nov 21, 2008 4:38am Nov 21, 2008 4:38am
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which one is the target? lol

TEB
  • #545
  • Nov 21, 2008 5:55am Nov 21, 2008 5:55am
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added on with the 1.2.3 break

cheers

teb
  • #546
  • Nov 21, 2008 6:18pm Nov 21, 2008 6:18pm
I just got in
my last lot was TP at 1.2450
and I was it was taken out for 155 pips

Attached Image (click to enlarge)
Click to Enlarge Name: 200gif.gif Size: 47 KB


cheers

teb
  • #547
  • Nov 21, 2008 6:41pm Nov 21, 2008 6:41pm
Can you put me on your e-mail list. Do you do that thru FF or via regular e-mail or what?
thanks,
CanuckCT

Quoting TEB63
I am going on vacation for a week
but I have been asked to email out when I do trades.
Or set up new systems.
would that be something people would like?

I am using 3 systems right now

cheers

TEB
  • #548
  • Nov 21, 2008 6:56pm Nov 21, 2008 6:56pm
Quoting CanuckCT
Can you put me on your e-mail list. Do you do that thru FF or via regular e-mail or what?
thanks,
CanuckCT
I am interested too!
Thanks!
Trading: the skill of avoiding trades
  • #549
  • Nov 21, 2008 7:01pm Nov 21, 2008 7:01pm
Quoting TEB63
I just got in
my last lot was TP at 1.2450
and I was it was taken out for 155 pips

Attachment

cheers

teb
Sorry TEB63 but ...shouldn't you be stopped at the base point at about 14:00 h?

Thanks for your help!
Trading: the skill of avoiding trades
  • #550
  • Nov 22, 2008 4:13am Nov 22, 2008 4:13am
Quoting eswap0
Sorry TEB63 but ...shouldn't you be stopped at the base point at about 14:00 h?

Thanks for your help!

well yes & no.

I was trading off the 4 hour chart using 1.2.3 from the 15 min to buy in
but
I had my SL set from the 4 hour.
It was 35 pips on the long side of the trend line

So I never got taken out

teb
  • #551
  • Nov 22, 2008 4:25am Nov 22, 2008 4:25am
Attached Image (click to enlarge)
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lets see what happens in the new week

cheers

teb
  • #552
  • Nov 22, 2008 4:41am Nov 22, 2008 4:41am
Quoting TEB63
well yes & no.

I was trading off the 4 hour chart using 1.2.3 from the 15 min to buy in
but
I had my SL set from the 4 hour.
It was 35 pips on the long side of the trend line

So I never got taken out

teb
Oh! Well seen! We always need to check all TF at the same time: good lesson...
Do you often use 35 pips above (or below) TL to set SL in 4H?
Thanks again!
Trading: the skill of avoiding trades
  • #553
  • Nov 22, 2008 5:25am Nov 22, 2008 5:25am
Attached Image (click to enlarge)
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teb
  • #554
  • Nov 22, 2008 8:14am Nov 22, 2008 8:14am
Quoting keo
hey there i would be interested too

my friends and i use Twitter to log and send over our trades, it's pretty cool.

sure

I will be back to normal next week sometime
if you like fire me off a email to [email protected]

cheers

teb
  • #555
  • Nov 22, 2008 12:32pm Nov 22, 2008 12:32pm
Hi Teb

Looking at post 519 I noticed you dropped back to a 15 min chart for the reversal , starting with the 4 Hr and then 1 Hr. What about the 1 hr and the 30 min charts. I was unaware you could drop the time frame out of order. Thanks
  • #556
  • Nov 22, 2008 1:40pm Nov 22, 2008 1:40pm
Quoting bobcat275
Hi Teb

Looking at post 519 I noticed you dropped back to a 15 min chart for the reversal , starting with the 4 Hr and then 1 Hr. What about the 1 hr and the 30 min charts. I was unaware you could drop the time frame out of order. Thanks

sure you can do what ever you like!

I use the 4 hour for greater trend esp. channel & patterns

I don't use the 30 so much
I but I was using 15 min,1hour & 4 hour in fact

cheers

tom
  • #557
  • Nov 23, 2008 2:15pm Nov 23, 2008 2:15pm
Hi Teb,

Say you use the 4hr,1hr and 15 min chart combination to trade. You use 4 hr to determine the trend, 1 hr to look for 123 set ups and 15 min to fine tune your entries, is that correct? If I determined the price is up on 4 hr chart above 200MA and then price comes down and crosses the 200MA to the short side. Are we only looking for short trades at that point?

I've noticed on a majority of your 4 hr charts that price crosses the 200MA in the opposite direction (which I thought was a signal for a trend change) but you continue to trade in the direction of the original trend. Can you explain why you do that? This made me a bit confused about when a trend change actually occurs. I thought the trend change was price crossing the 200MA?
  • #558
  • Nov 23, 2008 5:38pm Nov 23, 2008 5:38pm
Quoting ozziedave
Hi Teb,

Say you use the 4hr,1hr and 15 min chart combination to trade. You use 4 hr to determine the trend, 1 hr to look for 123 set ups and 15 min to fine tune your entries, is that correct? If I determined the price is up on 4 hr chart above 200MA and then price comes down and crosses the 200MA to the short side. Are we only looking for short trades at that point?

I've noticed on a majority of your 4 hr charts that price crosses the 200MA in the opposite direction (which I thought was a signal for a trend change) but you continue to trade...

Not normally do I do that... unless 1 of 2 things happens
1. I see a break or bounce of a major trend line.

2. Sometimes I am trading on the 15 min 5 min & 1 min charts
then I am using the 15 min as a trend leader


cheers

Teb
  • #559
  • Nov 23, 2008 5:40pm Nov 23, 2008 5:40pm
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  • #560
  • Nov 23, 2008 11:04pm Nov 23, 2008 11:04pm
Hi Teb..

Sorry I didn't follow your answer very well so let me ask this a different way. I am using the 4hr chart for my trend direction and I am trading on an hour or 15 minute chart. Say we have been in and up trend on 4hr and price comes down below the 200MA. At this point would you start looking for short positions/set ups on the 1 hr chart since the trend has changed on the 4hr chart?
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