TEB 5ema & 12ema and 21 RSI (MTF)

Dear TEB
I understant now thanks.
Regards.
Bülent

Teb,

Can we just use eur/jpy as an eg for now ema's have crossed on 30 min rsi is still above 50 now do you wait for the current candle to close than look to trade of nxt candle or do you go into the trade now as rsi is looking to break 50, we know on 5 min both ema's and rsi have crossed and is below 50.

Thanks

Yes I am looking to get in on the 1 min chart
But it might have just been news
then we Are going up again


TEB

Hey Teb,

Yea, I took that off the 1min at 1.2928

time testing on post

Teb...
Just started reading this method today, thanks much for another nice settup...
Put it to work just prior to the London fix...worked like a charm even though it was not exactly the best time of day to trade...
Netted +40 pips from 6 scalp trades...no loosers
Traded the AU, EU and EG...
Increased my little Micro account by 3.8%
Appreciate your continued support here at FF...
Cliff

Hi Masterpiecefx

Thanks for replying. I am new to the board and having just tried to search for the suggested research I am confronted with mountains of posts to look at. I have tried looking at the most relevant, but nowhere do I find objective performance information other than people trying it for a short period.

I was wondering if you could be so kind as to point me in the direction of the the most relevant of the posts you refer to.

I don't think its unreasonable to ask for specific performance information when someone says this "Its hard not to win pips with this system ... if you do MTFs
This is one of the systems I use (a lot)"

Can TED or anyone provide some sort of real life performance data over 3 months for this system or anything similar. Demo accounts would be good but they don't always taken into account the real spread.

I don't think this is an unreasonable request.

I know results will vary and discretion will be playing a part in anyone's results, but I wonder if anyone has built up a live trading track record using these methods over the last 3 months?

I'm not looking for a pot of gold, I make big distinction between an idea that might work and an idea that has been verified in live trading.

strewthmate,

I don't mean no disrespect to you, bro, but asking people to post their own account performance is a little bit too much. It's a public board and not too many people will do it. All I can say is that you got to test the system on your own. This is how you learn, not only this system, but also new things along the way, things that make this game work for you individually.

I personally use a slightly different approach to this method, so my performance will be of no relevance to this thread.

Thanks for the replies

I'm not asking for your actual personal account performance, I'm asking for some quantifiable support for the performance of the system. No-one has been able to provide this so far. I don't want to know you bank balance/ amount of money you make every day etc, what I'm interested in is some headline statistics such as the number of trades you have made using it, the average strike rate you achieve with the system and the average win to loss size ratio of every trade.

I don't believe you owe me anything either, but I do believe when you say something works, you should be able to provide some supporting evidence, at least in the form of summary statistics. If you don't have this evidence fine, it's just an idea then, but says its an idea. I am not a beginner, I'm not looking for a teacher. I'm looking for quantifiable evidence that this idea or others like it has actual numbers behind it that can back up its performance.

I'm not trying to catch anyone out here, or prove anyone wrong. I'm not going to turn around and say 'aha, it only has a 50% strike rate'. I'm a numbers person and do not trade anything until I there is a fair weight of evidence that something works. The first step for me is to back test/ review headline trading performance then I perform my own tests based on that evidence and demo trading before finally trading it. As you say you are trading this system or one like it, I assume you have such performance information in order to be able to say that its easy to win pips with it. If you share a system, why not share the evidence you have built up?

So I'm not asking you to give me something on a plate. The reason people flip flop between systems is because there is a seed of doubt in their mind as to whether it works or not. They don't do thorough back/ forward and then live testing.

If you post something saying saying 'its not hard to win pips with this system' I don't believe it's too much to ask to also be able to back up that statement with some sort of supporting evidence, be it headline statistics or a summary of trades (again I'm not asking for your actual account performance).

Strethmate lets do something that we can measure.....you have 3 posts on FF, Teb has about 2500......so to my eyes...he has "given" a lot more than you, in fact in your very first post you ask for something.....your 3 posts have been rather haughty. I am not going to get into a debate about it. I "take" from various methods, but all of the methods I use have some form of MTF involved.

Tebs method is pretty simple....but it requires traders discretion.......so Teb could say.......he has made X pips....but another trader might attempt to use the system and until he develops traders discretion he will not be successful. Tebs system is simple, but human nature will aways find a way to screw things up. Anyways....I am not sure how long you plan to hang around FF......but your 3 beginning posts are not going to make you many friends. I like Teb, I like his systems, I like his approach.......you might want to spend some time reading his 2500 posts.......and then.....post a few trades of your own.......or do you come to just ask for proof.....if this was a paid system.....well perhaps you might have the right to ask for proof.....but here....in FF the first requirement is you be respectful of senior posters like Teb

My guess is you have annoyed a few people....I sure I have annoyed people from time to time with my posts.

PGPB

As you've said, you do thorough testing, demoing, and so on. That's it. Keep doing it, everybody tests something they find on the forum. No one's tests or results will give you any idea about a system until you try it for yourself. We're all different.

The reason people flip flop between systems is because market is dynamic, it changes behavior, so some systems stop working, others start working. This is where your own knowledge inventory would come to use.

He didn't annoy me. He gave me a laugh.

I just thought ... oh god ... another newbie w..... (rhymes with banker) and hoped that he'd trade something, preferably his backtests, with real money.

strewthyboy: no one else asks for TEBs account because 1) they know they'll get told to F. Off and 2) they know that because its discretionary it doesn't matter what TEB says they won't get the same results. 3) if it drifts out of synch with the market TEB will adjust with the market.

When you've been around a while then you might move to the "hmmm ... here's an interesting idea ... I wonder if it's profitable for me as it is or I could include it with xxx and it would give me some system diversification position" rather than the immature "prove it to me mummy position."

I know the sort of newbie post you are referring to Kiwi trader and I can see how how my blunt questioning will have annoyed people.

Let me get this clear, I'm not asking for TEBs personal account records, I was asking for the sort of performance data that might help make an informed decision as to whether to do spend hours testing it myself. In particular the sort of system it is (high strike rate/ low strike rate etc). I know market regimes change and that you need to adapt.

"When you've been around a while then you might move to the "hmmm ... here's an interesting idea ... I wonder if it's profitable for me as it is or I could include it with xxx and it would give me some system diversification position""

From what I've read of TEB's posts, this is the opposite of what he's suggesting. He says that the system is simple in its own right.

"no one doing this anymore ?
I am not sure this is a computer thing
I think that is what killed this thread that and the add ons.
you really only need the RSi and the EMA(s)
I am geting like 100 to 200 pips a day for real
with about 10 to 20 trades a day ."

In posts 80 to 89 TEB indicates that he believes that the system does not need discretion (or little):

"hi guys

in fact I find there is not a lot of discretion

funny you say this.

I was teaching and calling trades today with a group that
wanted me to use "discretion" on their system.

and to be honest everytime I got away from "my rules"
I got in trouble.I told them for the rest of the week we do it "by the rules"

we made a lot of money but we lost some we didn't have to.

set and follow the rules "

Given that TEB has implied that the system does not need discretion (or very little) and that it does not need layers and filters, I did not think it was unreasonable to ask for some top level summaries of the sort of system this is. You can lose just as much money trading system posted on a forum as you can a system you purchase.

Yes I do trade my own systems and have spent many hours/ days running through the testing cycle with various systems (hypothesis - in sample backtest - refinement - out sample test- forward test - demo trade - live trade).

Like I said, I'm a numbers person and this is what I rely on to give me confidence to live trade any system. I could test it live for 1 month, 2 months but I know that this alone without the supporting statisitcs would never give me enough confidence to trade it live no matter how good results in that time.

I like to see longer term results and then put them in the context of the particular market regime at the time.

I recognize I did probably didn't have much 'credit in the bank' to ask such difficult questions, but I don't believe they should be difficult questions, especially when the system is apparently relatively simple and involving little discretion (According to TED, this is - there's probably much he takes for granted with his trading). Its probably more the way I approach trading and system design that I take it as given that people would have such stats to hand and if they are willing to share a system that a summary of stats would be a natural inclusion.

I shall leave it there and not post anymore until I have some quantitative feedback of my own.

Teb

Looking at backtest don't you think the sl for E/U are to small. Could you use a larger sl and go for more pips

gm TEB and all
my trades today, for now only eur.
thanks.

Hello Teb

My entry on EU

Hi Hcp,

Your trades look really good. Your trades from yesterday looked good also.

I have just signed up as a member here but I have been following the site for some time and in particular MTF systems, which I think are a very good basis for selecting trades and I am now trying to learn as much as I can in this area.

I have had some good trades with this system earlier last week but I have found the volatility in the market from late last week into this week to be challenging. Maybe it is my inexperience but when you are watching the charts set up live the price can chop around a bit and take you out of positions when you get a valid signal on a MA cross, which then reverses against you.

On your chart you have arrows and vertical yellow lines. I assume that the arrows are EMA crosses and the vertical lines are the RSI crosses?

Could you explain what the other indicators on your chart are (the blue / red candles - do they relate to overbought / sold areas on a stochastic?) and other MA lines. Are these indicators helping you to filter some of the choppy trades out?

Many thanks in advance,

JV78

Jv78
Hi
All trades are according to this system at least TEB did not objected anyone.
For the entries short look for a cross of 5ema and 12 ema and rsi50 to the downside, in a retracement to these emas in the 30m chart.
These emas in the 30m chart are 30ema and 72ema in 5m chart.(those doted lines)
The other lines upside are ema 120 and ema 144 (this last applied to the open) that I always use to determine the trend in the 2hours (although we do not have 2 h charts)
I always use 2 pips above/below the last swing plus spread as stop loss, if it s too large look in the 1m chart for a shorter swing. That depends on how it is going with profits.
The blue and red are coloured bars that come with the rsi-ema indicator posted in this thread.(post nro 18)it ind bars above ema 5 and rsi 55 (blue) and below ema12 and rsi 45(red)
The arrows are emacrossover ind 5 and 12., and the yellow vertical lines indicate the bar enter the trade, that I try to enter to the close of that bar.
I m not an expert trader , I m learning, and trying , this seems to be profitable sys and simple one, thanks to TEB.

Hcp,

Thanks for your explanation. I will have a look at the indicator posted and give it a try.

I have been through most TEB's previous threads and have gained an exponential amount of knowledge from him and other constructive comments made on his various system threads.

Once I get a little more familiar with the workings of this site I will post some of my set-ups as well for people to comment on for a good bit of group discussion - be it good or bad!

I should also say a big thanks to TEB for this system and his input on this site. MTF has got to be the way to go.

Cheers,

JV78

Here's another RSI that condenses levels, colours and all that stuff into one that I wrote a while back.