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World's Simplest System

  • #621
  • Dec 3, 2008 10:07am Dec 3, 2008 10:07am
That's what I mean: I prefer to scan 10 pairs and only trade the high probability trades than using only eurusd and increase the risk of my setups.
That's why I asked if other pairs are also reliable under WSS.
Thanks!
Trading: the skill of avoiding trades
  • #622
  • Dec 3, 2008 10:20am Dec 3, 2008 10:20am
I see. The 9 low-spread, highly liquid pairs Teb63 recommends, have been good performers for me, so far.
Mind Power Magnetizes Market Profits!
  • #623
  • Dec 3, 2008 10:25am Dec 3, 2008 10:25am
Quoting sunsue
I see. The 9 low-spread, highly liquid pairs Teb63 recommends, have been good performers for me, so far.
I didn't see them before. After a little bit of search, I supose you are talking about:

EUR/USD
GBP/USD
USD/CHF
USD/JPY
EUR/JPY
USD/CAD
AUD/USD
NZD/USD
EUR/CHF

Thanks!
Trading: the skill of avoiding trades
  • #624
  • Dec 3, 2008 10:38am Dec 3, 2008 10:38am
Yes, those are the recommended pairs. That's plenty for me to look at. Much more might put me into info-overload and drain away too much of the mental energy I need for the rest of the trading process. For me, these are enough, but not too much...
Mind Power Magnetizes Market Profits!
  • #625
  • Dec 3, 2008 1:37pm Dec 3, 2008 1:37pm
Nice trade on 5m eurjpy: 200% & 300% touched.
Your system is wonderfull, TEB63.
Thanks!
Attached Image (click to enlarge)
Click to Enlarge Name: 2008-12-03_1433.png Size: 64 KB
Trading: the skill of avoiding trades
  • #626
  • Dec 3, 2008 3:29pm Dec 3, 2008 3:29pm
1. EUR/USD
5. GBP/USD
7. USD/CHF
6. USD/JPY
2. EUR/JPY
3. USD/CAD
4. AUD/USD

only ones I trade


1,2,3,4 are the main ones

you really don't need more then that
you will have set ups ... over trading will kill you
& you want to get to know the pairs you trade ..10 pairs is hard

5,6,7 really always move with one of the pairs spoken of
on longer time frames.

I do 70% with the eur/usd in the day & 20% Usd/Cad
I do 70% with the eur/jpy in the night & 20% aud/usd


cheers

teb
  • #627
  • Dec 3, 2008 3:30pm Dec 3, 2008 3:30pm
Quoting TEB63
Attachment


teb
Teb
Hi. Interesting system and I like it because its simple. Most good systems are simple from my experience!!

One question. Apologies if its already been covered off somewhere on the forum

Have you thought of perhaps looking initially at the 30min timeframe and if this shows price below 200EMA , then going down to the 5min EMA and waiting for a cross down of the price through EMA and therefore only trading with the bigger trend?

This would be coupled with a TP of say 30-40pips on the likes of Cable and SL of 20-30pips

Thoughts? Can anyone easily EA this to see how it performs??

Regards


Vimal
  • #628
  • Dec 3, 2008 3:54pm Dec 3, 2008 3:54pm
Quoting TEB63
1. EUR/USD
5. GBP/USD
7. USD/CHF
6. USD/JPY
2. EUR/JPY
3. USD/CAD
4. AUD/USD

only ones I trade


1,2,3,4 are the main ones

you really don't need more then that
you will have set ups ... over trading will kill you
& you want to get to know the pairs you trade ..10 pairs is hard

5,6,7 really always move with one of the pairs spoken of
on longer time frames.
Thank you very much: I really appreciate your help.

Quoting TEB63
I do 70% with the eur/usd in the day & 20% Usd/Cad
I do 70% with the eur/jpy in the night & 20% aud/usd
What about sleeping??
Trading: the skill of avoiding trades
  • #629
  • Dec 3, 2008 9:51pm Dec 3, 2008 9:51pm
Quoting eswap0
What about sleeping??
This is related to a question that I have, TEB.

After you spot a trade do you ever "set and forget"
your entry, SL and TP orders?

Nice thread and method! Thanks!
Brent
  • #630
  • Dec 4, 2008 5:05am Dec 4, 2008 5:05am
I think you need to read the begining of the thread....

Quoting vnathwani
Teb
Hi. Interesting system and I like it because its simple. Most good systems are simple from my experience!!

One question. Apologies if its already been covered off somewhere on the forum

Have you thought of perhaps looking initially at the 30min timeframe and if this shows price below 200EMA , then going down to the 5min EMA and waiting for a cross down of the price through EMA and therefore only trading with the bigger trend?

This would be coupled with a TP of say 30-40pips on the likes of Cable and SL of 20-30pips

Thoughts? Can anyone...
  • #631
  • Dec 4, 2008 7:02am Dec 4, 2008 7:02am
Attached Image (click to enlarge)
Click to Enlarge Name: bound1.gif Size: 15 KB


1st targert taken out ... SL moved up

teb
  • #632
  • Dec 4, 2008 8:14am Dec 4, 2008 8:14am
Quoting redart007
I think you need to read the begining of the thread....
I agree so yes sorry for this. I have read through the thread and understand the system better. I am in the process of having an EA written on this but will be adding a few additional filters to weed out whipsaw trades

Thanks

Vimal
  • #633
  • Dec 4, 2008 11:27am Dec 4, 2008 11:27am
New fresh setup.
Attached Image (click to enlarge)
Click to Enlarge Name: 2008-12-04_1225.png Size: 55 KB
Trading: the skill of avoiding trades
  • #634
  • Dec 4, 2008 5:27pm Dec 4, 2008 5:27pm
chf looks very interesting

Attached Image (click to enlarge)
Click to Enlarge Name: chf1.gif Size: 16 KB


Attached Image (click to enlarge)
Click to Enlarge Name: chf2.gif Size: 14 KB


cheers

teb
  • #635
  • Dec 4, 2008 6:13pm Dec 4, 2008 6:13pm
Wonderfull trade! 2 targets touched.
Attached Image (click to enlarge)
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Trading: the skill of avoiding trades
  • #636
  • Dec 4, 2008 6:34pm Dec 4, 2008 6:34pm
both targets hit!!

Attached Image (click to enlarge)
Click to Enlarge Name: chf3.gif Size: 11 KB


cheers

teb
  • #637
  • Dec 4, 2008 6:43pm Dec 4, 2008 6:43pm
going for 3rd target now!!

Attached Image (click to enlarge)
Click to Enlarge Name: chf3.gif Size: 39 KB



cheers

TEB
  • #638
  • Dec 4, 2008 6:50pm Dec 4, 2008 6:50pm
Quoting TEB63
both targets hit!!

Attachment

cheers

teb

Hi TEB63!
Why did you take that trade while M60 was below 200EMA?
Thanks!
Trading: the skill of avoiding trades
  • #639
  • Dec 4, 2008 7:00pm Dec 4, 2008 7:00pm
Quoting eswap0
Hi TEB63!
Why did you take that trade while M60 was below 200EMA?
Thanks!
The bounce and candle formation off the 4 hour
also the 200 is good on the day & week
so the 4 hour 200 is the last
also we had a great trend line break on the 5 & 15 min charts


the 3rd target was just taken out

Attached Image (click to enlarge)
Click to Enlarge Name: chf3.gif Size: 38 KB


moving SL up

cheers


TEB
  • #640
  • Dec 4, 2008 7:34pm Dec 4, 2008 7:34pm
I am moving SL up to 1.1964
which is S. on the hour chart
& also my break even point on the last lot
so its a free trade

and I am done for the night I will see how it goes
in the morning


Teb
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