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World's Simplest System

  • #841
  • Dec 21, 2008 3:57pm Dec 21, 2008 3:57pm
Quoting danbuttigieg
Hi again eswap,

I have gone through the 3 pages of his new system but something inside me is battling which one to give more weight to.

I think that the WSS is cleaner and neater, but the new system also looks interesting. I know what your reply is most likely going to be "Use the one you feel more comfortable with and the one that yields more pips"..... however I have not yet experienced any profit from any system

Which one will you be focusing on ?
WSS for real trading and will try the new system with paper trading.

As everybody knows, you need to test a system more than one day.
Last friday was (under my point of view) a very trendy day for eurusd and most pairs, with few (or none) chances for WSS.
Different time frames were pointing different 200EMA trends, so it was risky to trade WSS.
By the other side, other systems (like the new TEB's one) were really profitable.
I must first check what is going to happen in choppy days!
Trading: the skill of avoiding trades
  • #842
  • Dec 21, 2008 4:00pm Dec 21, 2008 4:00pm
Quoting davema
Dan,
As Teb points out, he put that newbie system up because newbies have difficulty letting go of indicators. He gave them a system where they can still use indicators and not have a bad case of withdrawal.

I would stick to the cleaner charts. Just my opinion.
Take care buddy,
Dave
Much appreciated Dave, thank you

I guess you know how this feeling goes ........"WOW I've finally found a system that works from a great guy and great community, with clean charts and if I be careful I can actually learn to profit finally"

Then all of a sudden ........."why is he putting indicators on and messin' everything up" ? (messing in a good way TEB, sorry)

I personally love your (this thread) and will be sticking to this 200ema WSS system.

Have you been tradin' it long Dave ?
  • #843
  • Dec 21, 2008 4:13pm Dec 21, 2008 4:13pm
Dan,
I've been aware of the system for awhile, but only using it for about a week.(Demoing) It is working pretty good. Teb's 5 min system is great for a trending market.(Like early last week) Teb's 1 min system is good for entering on pullbacks such as fib zones and support/resistance flips. I hope this helps.
Cheers,
Dave
  • #844
  • Dec 21, 2008 4:23pm Dec 21, 2008 4:23pm
Quoting davema
Dan,
I've been aware of the system for awhile, but only using it for about a week.(Demoing) It is working pretty good. Teb's 5 min system is great for a trending market.(Like early last week) Teb's 1 min system is good for entering on pullbacks such as fib zones and support/resistance flips. I hope this helps.
Cheers,
Dave

Hi Guys

the WSS is my main system (other then no tools at all!!)

I just saw all the people bellyacking about no system that works
they were newbies & so I wanted to show a simple system that works.

It is working really really well right now because of the big moves
but then the market slows down the 200ema will be my main system again.
in a strong trend its easy the trade ...

cheers

TEB
  • #845
  • Dec 21, 2008 5:10pm Dec 21, 2008 5:10pm
Dan, From this thread, you, now, have enough info to start 'testing' its accuracy. The most efficient way to become profitable, is to go to the charts and apply the strategy to significant moves that have gone smoothly, in one direction. When you can easily do that on completed moves. Then, make sure the Autoscroll feature is off and go back to the period before the moves started. Put on your setupindicators. Then, using the 'Step-by-Step' feature, advance the chart, candle by candle. Doing that multiple times, on many moves, will give you a sense of how well the strategy 'clues you in' about its future direction. When that becomes easy, enterexit trades using the demo platform. After your confidence grows to the point where you will be comfortable trading, live; profits will follow. With every strategysystem you test, repeat the sequence of this process, until your live trade report shows consistent profits. 'Asking' the market (the ultimate expert), directly, is the only sure way, I know of, to get an accurate sense of future price direction.
Mind Power Magnetizes Market Profits!
  • #846
  • Dec 22, 2008 11:04am Dec 22, 2008 11:04am
Quoting sunsue
'Asking' the market (the ultimate expert), directly, is the only sure way, I know of, to get an accurate sense of future price direction.
Thank you for your kind words sunsue and of course TEB

It is people like you in the world that make trading so worth while.

I wish you a peaceful Christmas and a Happy New Year!

Daniel
  • #847
  • Dec 23, 2008 4:01am Dec 23, 2008 4:01am
Hi TEB
The attached indicator is based on your idea
It searches for trade opportunities in multiple currencies and shows signals
each signal contains: Pair, BUY/SELL, entry point and target

Please review it, and lets all evaluate it, I hope it gives good results

Best wishes
Attached File(s)
File Type: ex4 ForexTelescope_Signals.ex4   10 KB | 889 downloads
  • #848
  • Dec 23, 2008 4:27am Dec 23, 2008 4:27am
Quoting maptoprofit
Hi TEB
The attached indicator is based on your idea
It searches for trade opportunities in multiple currencies and shows signals
each signal contains: Pair, BUY/SELL, entry point and target

Please review it, and lets all evaluate it, I hope it gives good results

Best wishes
Could you add a screenshot so those who use different EA would see how it looks?
Thanks!
Trading: the skill of avoiding trades
  • #849
  • Dec 23, 2008 7:36am Dec 23, 2008 7:36am
Quoting eswap0
Could you add a screenshot so those who use different EA would see how it looks?
Thanks!
Here is a screen shot
I hope it could help
Attached Image (click to enlarge)
Click to Enlarge Name: Ftele.gif Size: 35 KB
  • #850
  • Dec 23, 2008 7:39am Dec 23, 2008 7:39am
Quoting maptoprofit
Here is a screen shot
I hope it could help
Thanks!
Any information about how it searches for trade opportunitie?
Trading: the skill of avoiding trades
  • #851
  • Dec 23, 2008 7:46am Dec 23, 2008 7:46am
Donīt understand your EA very well could you explain?
  • #852
  • Dec 23, 2008 8:00am Dec 23, 2008 8:00am
Hi!
After a couple of days playing around with different systems and losing some pips, I came back to WSS (for me Wonderfull and Sure System)
Two trades today:
audusd, 200% hit, then stopped out.
eurjpy, 200% hit, still in with no risk.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2008-12-23_0854.png Size: 95 KB
Click to Enlarge Name: 2008-12-23_0853.png Size: 103 KB
Trading: the skill of avoiding trades
  • #853
  • Dec 23, 2008 8:20am Dec 23, 2008 8:20am
Quoting eswap0
Thanks!
Any information about how it searches for trade opportunitie?
It is based on TEB idea
it searches in different TF if the price below EMA200, and in the following TF is upper EMA200 then there is a trade.
The target is EMA200 itself

By the way neglect big pips' signals, it came from high TF select trades with under 100 pips target

Best wishes
  • #854
  • Dec 23, 2008 8:24am Dec 23, 2008 8:24am
Quoting maptoprofit
It is based on TEB idea
it searches in different TF if the price below EMA200, and in the following TF is upper EMA200 then there is a trade.
The target is EMA200 itself

By the way neglect big pips, it came from high TF select trades with under 100 pips target

Best wishes
Thanks!
Trading: the skill of avoiding trades
  • #855
  • Dec 23, 2008 10:23am Dec 23, 2008 10:23am
Quoting eswap0
Hi!
After a couple of days playing around with different systems and losing some pips, I came back to WSS (for me Wonderfull and Sure System)
Two trades today:
audusd, 200% hit, then stopped out.
eurjpy, 200% hit, still in with no risk.







I would be very careful trading right now
& I would only use WSS


Attached Image (click to enlarge)
Click to Enlarge Name: 5 min ltrade.gif Size: 34 KB


Cheers
merry Christmas
  • #856
  • Dec 23, 2008 11:03am Dec 23, 2008 11:03am
Thanks Teb. Merry Christmas.
  • #857
  • Edited 3:54pm Dec 23, 2008 2:49pm | Edited 3:54pm
My last GBPUSD trade before Christmas (sorry I couldn't upload it before)
2 targets hit.
Interesting to see how trailing stops help you in certain circumstances.
I use a trailing stop for PT2 of "after the second target is hit, move your stop to 5 pips before, and move it again every 10 pips to 5 pips before".
Most of the time it makes you lose some few pips, but sometimes... look what happens: 2nd target was 1.4760 and I was really filled (after trailing stops) at 1.4709!!
See the trades in white circles.
Well, I wish you all Merry Christmas! We can forget about pips for some days...
And Thanks again TEB for your support to this thread.
Attached Image (click to enlarge)
Click to Enlarge Name: 2008-12-23_1540.png Size: 95 KB
Trading: the skill of avoiding trades
  • #858
  • Dec 29, 2008 2:21am Dec 29, 2008 2:21am
New setup in progress in gbpusd??
Attached Image (click to enlarge)
Click to Enlarge Name: 2008-12-29_0320.png Size: 81 KB
Trading: the skill of avoiding trades
  • #859
  • Dec 29, 2008 3:30am Dec 29, 2008 3:30am
Good: both hit.
Attached Image
Trading: the skill of avoiding trades
  • #860
  • Jan 2, 2009 10:14am Jan 2, 2009 10:14am
Hi One and all

This will be my last post

I really came here to try help help people
But now its just a waste of time
& I am going to get very bussy next week.

But I wanted say good bye

Let be say what I have been trying to say too help people.

Forex is easy to trade if & only if you keep it simple!!!
all you need is ....

a trend
a tool (all you need is one but if more 2 at most 3)
a trigger
a target

more then that and you will lose

below are two charts
its east to see the trades
The 50sma is trend
the Stoch the trigger
Targets & Stop Loss take some learning
(do the Swing or "00" & "50")

(I could have put
one 200 ema on 3 time frames
two shochs on 2 time
three rsi on one time frame.
the point is, it doesn't matter
as long as you keep it simple)

http://www.forexfactory.com/attachme...1&d=1230911456

If you get complex you will lose!!
The entery is not really that important thing
its the exit & the managing the trade!!

I openned this account less then a month ago
I started with $5020 funny money (not really sure where the $20 came from)
I now have over $11,000 of funny money

I traded at least 5 systems ... many live on FF
on at least 12 pairs
on at least 7 time frames

mostly I hold no longer then over night

I say this to say " KEEP IT SIMPLE"
use normal tools an normal setting!!!

& don't worry or buy systems about opening
Worry & pay for learning how to managing & exiting trades!!!!!!!
if you need a simple one email me & tell me your best tool & time frame & when I get some time i wil send you a opening
But I will also send a warning
you will lose unless you have a good exit & M/M.

complex systems pay simple ones
that the facts

you need to study & spend lots of chart time

Cheers

TEB
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