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World's Simplest System

  • #801
  • Dec 17, 2008 6:08am Dec 17, 2008 6:08am
Hi everybody!
Should be looking at eurusd?
Weekly and dayly charts are still below the EMA (what a nice resistence there!) and 4 hours is above and can be ending its way up!
If 123 pattern is formed in 4 hours chart we can have a nice retracement to the main trend down.
We still need to wait some hours...
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Trading: the skill of avoiding trades
  • #802
  • Dec 17, 2008 7:49am Dec 17, 2008 7:49am
Hello everyone,
eur/usd 1 hour above 200, 15 min above, 5 min fell below. Took the 1-2-3 break up on the 5 minute. Closed 3/4 position at first target 1.4096. Last 1/4 at breakeven plus 2. Thank you Teb!http://www.forexfactory.com/images/icons/icon7.gif http://www.forexfactory.com/images/icons/icon14.gif
Take care, Dave
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  • #803
  • Dec 17, 2008 8:17am Dec 17, 2008 8:17am
Last 1/4 out at second target at 1.4129. Thanks again Teb.
  • #804
  • Dec 17, 2008 8:29am Dec 17, 2008 8:29am
Quoting eswap0
Hi everybody!
Should be looking at eurusd?
Weekly and dayly charts are still below the EMA (what a nice resistence there!) and 4 hours is above and can be ending its way up!
If 123 pattern is formed in 4 hours chart we can have a nice retracement to the main trend down.
We still need to wait some hours...

with the USA intersest rate at .25%
we might not this pair moving down for sometimes.
or at lest until the Euro world drops its rates

but these days who knows?


personal I am looking for a strong break of the 1.42


cheers

TEB
  • #805
  • Dec 17, 2008 8:37am Dec 17, 2008 8:37am
`
if it closses abouve 1.4231 we will have a good old fashion break out!!

teb
  • #806
  • Dec 17, 2008 8:59am Dec 17, 2008 8:59am
Still open audusd.
Nothing to lose now.
Thanks!
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Trading: the skill of avoiding trades
  • #807
  • Dec 17, 2008 9:00am Dec 17, 2008 9:00am
clossing out at 1.4310

cheers

teb
  • #808
  • Dec 17, 2008 9:04am Dec 17, 2008 9:04am
Closed second target 0.7 audusd
Trading: the skill of avoiding trades
  • #809
  • Dec 17, 2008 9:19am Dec 17, 2008 9:19am
the Eur/Jpy maybe the next big break over 126.03
we will have again a break out again?

TEB
  • #810
  • Dec 17, 2008 9:35am Dec 17, 2008 9:35am
Quoting TEB63
the Eur/Jpy maybe the next big break over 126.03
we will have again a break out again?

TEB
Hi TEB
I don't see this trade: ¿can you be a little more precise?
Thanks you!
Trading: the skill of avoiding trades
  • #811
  • Dec 17, 2008 10:12am Dec 17, 2008 10:12am
Quoting eswap0
Hi TEB
I don't see this trade: ¿can you be a little more precise?
Thanks you!
ok... the 3 EMAs are just for trend. This is where people miss it.

You want to make sure
1. you are on the right side of the trend
2. you have a little "piproom" right.

that is why you wait for the small ema to be on the wrong side
of the other two..

well we use the 1.2.3 as are main way entery.

BUT if you have the 3 ema right
and a 1.2.3 break
can you trade .. well yes
But do you have "pip room'?

well on a range break you know you do

cheers

teb
  • #812
  • Dec 17, 2008 10:45am Dec 17, 2008 10:45am
OK, undrestood.
So, you use the security of beeing up by the 3 EMAs to play with patterns like range-breakes trading always in the direction of the trend.
Nice.
Thanks you!
Trading: the skill of avoiding trades
  • #813
  • Dec 17, 2008 11:17am Dec 17, 2008 11:17am
Quoting TEB63
tough day at the office today!!



Attachment
teb
Hi TEB!
What's the time shown in your P&L report?
You live in Canada, but it looks like an european time zone...

It would be usefull to know to identify your trades.
Thanks!
Trading: the skill of avoiding trades
  • #814
  • Dec 17, 2008 11:35am Dec 17, 2008 11:35am
I'm thinking that trading of the 5 min. is to much noise.
However I monitored some trades today on different pairs just to check.
Because I was just checking it out I didn't record them.
But 4 setups -> 4 wemt to 1st target...
Think I have to make records from now on, traded or not...
  • #815
  • Dec 17, 2008 11:50am Dec 17, 2008 11:50am
Quoting Kardi
I'm thinking that trading of the 5 min. is to much noise.
However I monitored some trades today on different pairs just to check.
Because I was just checking it out I didn't record them.
But 4 setups -> 4 wemt to 1st target...
Think I have to make records from now on, traded or not...

you are missing the point
you are not trading on the 5 mins chart rather its the highest chart of the 3 you are using.

with all the big moves of late I am doing 1 hour, 15 min & 5 min.
( works better on the majors.. not so good on the cross lol)

so in fact I am trading on the 1 hour chart right
confirming of the 15 min
& buy sell signs on the 5 min

So the noice of the trade is from the 1 hour chart

that is the power of MTF trading

cheers

teb
  • #816
  • Dec 17, 2008 12:04pm Dec 17, 2008 12:04pm
That was also the way I did it. Just used the wrong word, I guess
5 min. opposite of 15 min and 1h, and then looking for a 1-2-3 pattern.
  • #817
  • Dec 17, 2008 1:45pm Dec 17, 2008 1:45pm
Quoting oechel
yes simply paste the code for sending email in here....
eswap can you help in this please ?
  • #818
  • Dec 17, 2008 1:53pm Dec 17, 2008 1:53pm
Quoting TEB63
tough day at the office today!!



teb
I wish I could make 500$ while wiping the sweat at the office

Well done TEB
  • #819
  • Dec 17, 2008 2:04pm Dec 17, 2008 2:04pm
Hi guys,

What you think of the EURCHF break to the downside ?

I took a late short entry. How far down do you reckon it will go ? (4hr)
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  • #820
  • Dec 17, 2008 2:34pm Dec 17, 2008 2:34pm
Quoting danbuttigieg
eswap can you help in this please ?
I am afraid I would be worthless: I thing I am the only one here using NInjatrader. C# languaje won't work in MT$, I think.
I also used in the past a script made with bash, under Linux, but I a afraid as well It won't be usefull for most of you.
Trading: the skill of avoiding trades
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