DislikedYou are so right about this. It is not the indicator or indicators you use but using the same indicator(s) on multiple time frames. If they agree on multiple time frames the probability of success is extremely high.
I know this and I (theoretically) practice this, and it is every time that I violate my own rules that I get burned.
The only improvement that I would suggest is that you look at the relationship between the volatility of the pair and the time frames you select to apply to it. In my experience, the more volatile the pair, the shorter the time frames I use successfully. You might want to take a look at this some time.Ignored
- #263
- Mar 25, 2007 11:55pm Mar 25, 2007 11:55pm
- Joined Jan 2007 | Status: Trader | 5,864 Posts
Teb63,
I am new to your trading system. I have been checking it out for a couple of weeks and it looks very good. Could you please post a couple of charts showing your entry from the Day and 4-hour perspective. Also, If you get an entry on the Day and the 4-hour has cross twice in the direction of the Day will you get in on the second cross. For instance, the Day gives a down signal. The 4-hour has shown a down crossed up and now has crossed down again. Will you take the second entry on the 4-hour or only the first after the Day cross. And if so are there any additional precautions in this situation.
Thanks,
The Prince
okay
1. the 4 hour is the main chart - the day chart is just to protect you.
so if I get a trend sign on the 4 hour - & the day is not fighting it that is great- the day is 2nd to the 4 hour!!
- and now I am now looking for the buy/sell sign on the 30min.
but the 4 hour is the key.
- #267
- Mar 26, 2007 6:49am Mar 26, 2007 6:49am
- Joined Jan 2007 | Status: Trader | 5,864 Posts
quote=peterdxb;253961]TEB,
We have BUY signal on EUR/USD ?[/quote]
I might go in
...but its not a perfict set up
the stoch on the 4 hour is still under the 20%
The 4 hour stoch is the main one (see 1st chart)
but we are so far under the 50ema
candle formation
& I think the fall on fridays was news in a quite market
but becareful- I will be watching this trade very closely
4 hour
30 min
see there the check mark is
better if the stoch had come up out of the 20%
We have BUY signal on EUR/USD ?[/quote]
I might go in
...but its not a perfict set up
the stoch on the 4 hour is still under the 20%
The 4 hour stoch is the main one (see 1st chart)
but we are so far under the 50ema
candle formation
& I think the fall on fridays was news in a quite market
but becareful- I will be watching this trade very closely
4 hour
30 min
see there the check mark is
better if the stoch had come up out of the 20%
- #268
- Mar 26, 2007 8:25am Mar 26, 2007 8:25am
- Joined Jan 2007 | Status: Trader | 5,864 Posts
I am short with the swiss as of a 12.00gtm with Teb's system....not really moving, but time will tell.
so if one goes likely both will
- #269
- Mar 26, 2007 9:02am Mar 26, 2007 9:02am
- Joined May 2006 | Status: Professional trader, owner of MTC | 1,521 Posts
- #270
- Mar 26, 2007 9:24am Mar 26, 2007 9:24am
- Joined Jan 2007 | Status: Trader | 5,864 Posts
TEB,
We have BUY signal on EUR/USD ?
we are at the 50% fibs of the move from friday!!
I don't really follow fibs much but for the 50%
the strongest of them all and I have @ 1.3333
not sure if I will pail yet but I will watch it
Likely wait till the 4 hour cross again
put in a trailing stop loss to lock in proffit
- #272
- Mar 26, 2007 9:47am Mar 26, 2007 9:47am
- Joined Jan 2007 | Status: Trader | 5,864 Posts
I am out of euro buy with 70 pips
I am done for the day
bye
we have BUY Signal on USD/JPY ? but daily stoch has just turned down
Still don't have any clue about Cable... normally I would say - short but now? Up on news? New heights long term? Thou they bounced of the daily channel center twice.
