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World's Simplest System

  • #701
  • Edited 2:32pm Dec 9, 2008 1:49pm | Edited 2:32pm
I use to analize my loses.
My mistakes in eurjpy today were:
1- Two pips below 100% target was to tight
2- I didn't realize PA was so close 200EMA: in fact it acted as a support. I should have waited to get it drilled.
3- Crossing 5EMA and 30EMA some minutes before was a bullinsh sign, not bearist.
4- I thought Pivot line would act as a resistance, but it didn't.
You can not act mechanically: measure twice, cut once.
Hope you don't do my mistakes!
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Trading: the skill of avoiding trades
  • #702
  • Dec 9, 2008 2:51pm Dec 9, 2008 2:51pm
Quoting eswap0
I should reconsider scanning so many pairs...
not what I was saying!!
I was saying its the safes pair or thing to trade

teb
  • #703
  • Dec 9, 2008 3:26pm Dec 9, 2008 3:26pm
Quoting TEB63
not what I was saying!!
I was saying its the safes pair or thing to trade

teb
How come TEB ? What makes the EUR "safer" to trade ?
Attached Image
  • #704
  • Dec 9, 2008 3:36pm Dec 9, 2008 3:36pm
Quoting TEB63
Attachment
1st target hit
move up SL

The 1.2.3 on the 4 hour is in play !!!!!!!!!!!!!!!!!!!!!

teb
Hi TEB.
There's a thing I can't understand: żdid you trade the 4h chart? żdid you enter long at about 1.2969?
As far as I can see, with 4h, 1h and 15m above EMA we could enter long in 15m chart, not in 4h!
I also see that, according to 1 day chart, we have:

  1. A nice pattern in progress than can act as a resistence near 1.30
  2. Round number in 1.30: strong resistence
  3. 1 day chart PA clearly below 200 EMA

For those 3 reasons I wouldn't understant a trade on 4h chart but, you know, I am still learning...
Thanks for your help!

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Trading: the skill of avoiding trades
  • #705
  • Dec 9, 2008 3:42pm Dec 9, 2008 3:42pm
I'm surprised that this thread doesn't have more participation.
It's a pretty solid method from what I've tried. I'll try to be more
disciplined and stick with it for awhile and join you guys.

Also, you're one of the threads which is not just leading people
to an EA or indicator for sale or seminars or chat room that are
just for cash for someone who started the thread.

Thanks TEB!
You are a saint.

Good trading everyone!
Brent
  • #706
  • Dec 9, 2008 3:43pm Dec 9, 2008 3:43pm
Quoting danbuttigieg
How come TEB ? What makes the EUR "safer" to trade ?
greatest vol of trade!!!
its the most trending in all the trading world

teb
  • #707
  • Dec 9, 2008 3:46pm Dec 9, 2008 3:46pm
Quoting FXSurfer
I'm surprised that this thread doesn't have more participation.
It's a pretty solid method from what I've tried. I'll try to be more
disciplined and stick with it for awhile and join you guys.

Also, you're one of the threads which is not just leading people
to an EA or indicator for sale or seminars or chat room that are
just for cash for someone who started the thread.

Thanks TEB!
You are a saint.

Good trading everyone!
Brent

saint not likely

the reason is- its not sexy
no new tools
no secrets-- just common sence.

teb
  • #708
  • Dec 9, 2008 11:11pm Dec 9, 2008 11:11pm
Saint TEB , I am still doubious about the target levels (for some reason my fibs don't align with yours). Take the EURUSD for example. I know there is strong resistance at 1.2965, but the 30Min chart looks okay. So should I extend my Fib to the lowest point it broke the ema (1.2799) to the highest point (the highest point before breaking the ema or after) - 1.3000 or 1.2961
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  • #709
  • Dec 10, 2008 4:50am Dec 10, 2008 4:50am
Quoting danbuttigieg
Saint TEB , I am still doubious about the target levels (for some reason my fibs don't align with yours). Take the EURUSD for example. I know there is strong resistance at 1.2965, but the 30Min chart looks okay. So should I extend my Fib to the lowest point it broke the ema (1.2799) to the highest point (the highest point before breaking the ema or after) - 1.3000 or 1.2961

are you using TEB fibbs or "normal" fibbs"

teb
  • #710
  • Dec 10, 2008 5:18am Dec 10, 2008 5:18am
Quoting TEB63
are you using TEB fibbs or "normal" fibbs"

teb
"normal" fibs
  • #711
  • Dec 10, 2008 8:06am Dec 10, 2008 8:06am
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Blue boxes are buy place
( one bounce off S & three 1.2.3 breakes)
I didn't get them all only two
& my last buy was bad order

But I am ok with it
I think price will go back down & test & I will buy in them

TEB
  • #712
  • Dec 10, 2008 8:07am Dec 10, 2008 8:07am
Daniel
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  • #713
  • Dec 10, 2008 8:14am Dec 10, 2008 8:14am
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an other buy sign !!
teb
  • #714
  • Dec 10, 2008 8:21am Dec 10, 2008 8:21am
Quoting TEB63
Attachment

Blue boxes are buy place
( one bounce off S & three 1.2.3 breakes)
I didn't get them all only two
& my last buy was bad order

But I am ok with it
I think price will go back down & test & I will buy in them

TEB

Hello Teb,
Thanks for your great simple system. The entry at the first blue box around 1.2900ish looks like a bounce off of a trendline with a pinbar. Am I seeing this correctly or were you seeing something else? Also, was this one of the alternate entries that you were discussing yesterday?
Thank you for your time and information.
Dave
http://www.forexfactory.com/images/icons/icon7.gif
  • #715
  • Dec 10, 2008 8:38am Dec 10, 2008 8:38am
Quoting davema
Hello Teb,
Thanks for your great simple system. The entry at the first blue box around 1.2900ish looks like a bounce off of a trendline with a pinbar. Am I seeing this correctly or were you seeing something else? Also, was this one of the alternate entries that you were discussing yesterday?
Thank you for your time and information.
Dave
http://www.forexfactory.com/images/icons/icon7.gif
bounce off S on the 4 hour charts
but i didn't take it I was not at my charts

TEB
  • #716
  • Dec 10, 2008 8:42am Dec 10, 2008 8:42am
Quoting TEB63
bounce off S on the 4 hour charts
but i didn't take it I was not at my charts

TEB
Thank you Teb.

Dave
http://www.forexfactory.com/images/icons/icon7.gif
  • #717
  • Dec 10, 2008 8:45am Dec 10, 2008 8:45am
Closed 3 of my 4 open trades
my close was 96 but it did go up & take out 08!!
I would rather be careful then sorry

I will move up the SL on my last lot


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done for the day

cheers


TEB
  • #718
  • Dec 10, 2008 9:14am Dec 10, 2008 9:14am
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an other buy sign

I love the euro!!

TEB
  • #719
  • Dec 10, 2008 9:31am Dec 10, 2008 9:31am
Hi TEB!
I understand you are using 123 strategy instead of WSS althought we are in WSS threat, right?
Thanks!
Trading: the skill of avoiding trades
  • #720
  • Dec 10, 2008 9:34am Dec 10, 2008 9:34am
Quoting eswap0
Hi TEB!
I understand you are using 123 strategy instead of WSS althought we are in WSS threat, right?
Thanks!

Please read 1st few posts
The WSS is three 200 emas on 3 time frames for trend
& the 1.2.3 break for enteries.
(I have added bounce & breaks as well a patterns & playing with on another entery)

infact I am doing the WWS

cheers

TEB
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