Tenno system

Hi,

I'm trying that system since 15.01.08.

I'm happy of results.
If you stick to the rules you can get easy 10pips per trade or you could move your stop every e.g. 15 pips and trying to catch beginning of the trend.

Stop loss should be 5-10 pips above or below last higher or lower price. If the SL i to far away for you, don't trade and wait for another signal.

I'm trying to look at the charts before Frankfurt and London open because they usually create the trend for the rest of the day.
Since 0600 to 1400 (then comes mostly US news and signals could be failed). I'm GMT+1.

Hope this helps.

Hello Magictrader,

Thank you very much for your fast answer. Yes you helped me. My SL was in wrong place today and I lost 20 dollar. (To tell the throuth 1h chart didn't give a good sign, inspite of this I traded.) This is too much for me, because on my subaccount has 450 USD. I use all this ammount for one trade, so when I catch 10 pip/day I am very happy, it is very good for me. More than 2 %/day it isnt bad. I like this system, and I try to use it more efficiently.
If you have more charts, please show me/us.

Thanks again:
Sunflower

Hi,

I use also basic technical analysis to know where potential points of reversal could be (pivot points, fibonacci, trend lines, etc.) and wait for the confirmation. Then is strong reason why price should return.

We have to be very carefull when we miss the entry point and the strong trend will begin. This system "catches" the tops and the bottoms and if there is a strong trend we could be out and don't get even 10pips, so be aware of that.

The positive is that the every trend has some beginning and we can catch it using that system.

There's one thing
I don't know why, sometimes on different platforms (I've got demo account using MetaTrader, and real acc using DealBook360) the %R looks different. In one platform e.g it points down, and on the other it points up. The price in both platfors is the same and setup for indicator also.

Here are some historical charts:

Here is today's trade:
We've got some resistance at 1,9904, some fibs and sell signal.
Entry was to late but 10 pips gained.

Here is today's live entry:
10 pips in 10 minutes (I've modified my exit point, firts it was on 15pips gain).

Hello Magictrader,

I tried this system other pairs too, and it worked, but I closed the trade only 3-5 pip plus.
Thank for new charts, but the second isn't so clear for me.

When You trade GBP/USD whith tenno do You use a big part of your account?

(My borker company:OANDA, and I trading on its platform.)

Sunflower

Hi,

I use about 5% of my account (because I lost in first 2 months about 40%).

I've change little bit rules of TP. If that system works fine in better then 50% so TP = SL + spread. Then risk/reward = 1 and it should be profitable in long term.

Today I've also try on another pairs like USD/CHF and I gain profit.
Because other major pairs has less volatility SL could be about 5-7 pips from top or bottom.

Now when I pull the trigger I'll setup my SL and TP, setup alarms on that price levels, and turn off my monitor. The market and I have the same chances, but I think that TP will be hit more times then SL. Just like today. Patience is the key.

Magictrader

P.S what is not so clear, on which chart?

Here are modified rules about TP on the chart:

Hi Majictrader

Thanks for posting your charts and bringing this thread back to life. I will be trading this strategy live on the eur/jpy. Will let you know how things are going in a week or so.

Don't know what has happened to the new version.

Here's today's first call about 10:10 GMT+1
It hit stop loss (SL was 10 pips from last min. price, the market goes 3 pips below that level).

Second call (few minutes later) was better and it was possible to gain all the pips which was lose in the first trade.

Sorry for my english

Today's London open 0900 GMT+1 and first signal.

10 pips could be gained (yellow circle) but I try on demo strategy with modified TP level. So I was stopped out.

Few minutes later was another signal so I decided to open a position with double lot. And my TP level was hit.

So If our aim will be today only 10 pips on each trade it will be gained. But we risk about 20-25 pips (SL 10 pips below last low, or high). One wrong trade and then we should have three good trades to have some profit. It's very risky.

Hi,

Orientos did you try this strategy on EUR/JPY?

Here are some of todays trades. Very hard day.

First was stopped out, second should be stopped, but I don't put my stop loss. At the third signal I sell G/U with few more lots to recover my loss from first trade.

And of the day with value of +25pips and some new experience.

I'm still trading with that "system" and it's profitable. I add some kind of filter. It's MACD and Stochastic, it's very good if there are divergences and we've got a signal from %R. It hepls very much and gives more confidence that entry point is correct.

Just my 2 cents...

Hi Magic, I'm looking forward to trying out this system. Keep us posted on your changes and your results. Until then I will be using the original rules.

At the first thought..i say to myself..this system is not for me..too many false signal...i'm just about to ignore this thread..but what CT explain at his last post was opened my eyes...Give a 2nd thought and study the way reversal cs and connect it to the 20% and 80% overbought and oversold William range...Now i can see the beauty of the system...say no more to losses..thanks a lot CT.