TEB: Retracement Wave Surfer System

In the the last two months I have been trading mainly a new system.
trading plan can be seen as:
Trend -Retracement- Break/Break- ride the wave- reasoned exit.


It comes from a wanting to have a simpler system.
This I defined as
1. Few tools
2. 1 chart (TREND>TRADE>TRIGGER all on one chart)
3. Multi-time frame trading.
4. Clear rules and plans.
4. Big runs... small loses.
5. A set and forget system.
* where I can see the trades coming a mile away
* and not have to stay at a computer all day.
6. Set and forget system
7. Trading safer ie.Trend/Retracements/Break/Break

1. Tools:
*3 Sma 120,60 and the 30
*candles and patterns
*Trend lines and S/R
(you may see fibbs esp the 50%)
but that is it! no Macd, RSI, P.Points or anything else please.

2. Charts:
* 80% of the time I am on the 30 min Charts:
* I use 15 or 5 min charts to get better entries, but rarely for set ups.
* I do watch the 1 hour, 3 hour and day charts.
but over 80% of my trades I have done, I have done on the 30min chart
The system is set up for this Time frame.
I am looking for 1 or 2 trades a day .. I normally find them.

3. Multi-time frame trading:
The 3 Sma 120,60 & 30 will show us what is going on,
on the 2 hour and 1 hour and 30 min. charts. So its MTF TRADING!

We use the 120 Sma (RED) & 60 Sma (GREEN) to give us the over all trend.
1. Same direction 2. Stacked 3. Growing in Separation
We do use the 30 Sma (YELLOW) with the trend, but its main use is for pip room.

4. Clear rules and plans:
I have a trading plan of about 12 pages, as I trade I will share it.
Most of the same stuff I shared in my last thread.

5. Big runs:
One of the changes I am doing in this thread is looking more for the big runs. At least a 3:1 profit Ratio
EXITS: a. Reverse pattern b. Break onto the other side of the 30Sma c. R/S (d. Fibb)

6. Set and forget rules:
Again, I will share the rules as I take trades

7. Trading safer:
ie. Trend, Retracements, Break/Break etc.

ENTRY:
1st. Break a. Trend line break (could be channel or triangles) b.1 2 3 break c. "W" & "W" d. Over bought/ Over sold e. 50% Fib
2nd. Break ENTRY Candle formations a. 1 2 3 break b. inside candle c. outside candle d. 3 candle reversal e. Pin Candle.
EXITS:
Only with a reason: a. Reverse pattern b. Break back to the other side of the 30Sma c. R/S ( d.Fibb)
STOP LOSS:
a. Last big swing. b. Move Stop loss with the price action swing as protection.

I WOULD ASK THE FOLLOWING
A. PLEASE READ THE THREAD BEFORE ASKING QUESTIONS.
B. PLEASE DO NOT AD THINGS TO THE TREAD. What I mean is no other tools ie macd RSI etc.
new Ideas on the system are always welcome
It is my system and I want to share it, it works well as it is.
C. I DO NOT USE COMPUETER PROGRAMS TO TRADE. PLEASE TO DO TALK ABOUT ONE IN THE THREAD
D. PLEASE REMAIN POSITIVE ALWAYS WITH EVERYONE ALWAYS.

I trade URUSD USDCHF GBPUSD USDJPY USDCAD AUDUSD
NZDUSD EURGBP EURCHF GBPCHF EURAUD EURJPY GBPJPY AUDJPY & GOLD SILVER

esp. the 6 ones in purple.

The 6 I like to trade the most
PLEASE NOTICE WE START WITH NOTHING on our charts
BUT THE SMAs on the charts


Here is a trade I took and it is stll running.
Its a trend line break (yellow line) with trend and lots of pip room
1. Green Sma under Red Sma both going in the same direction and growing a part and down.
2. Price goes over the yellow 30 Sma and back under
3. We see the 2nd break, ligh blue line (1 2 3 break) this is the entry,
4. The Red lines are the stop losses. The 1st one was the entry, the lower one is the one I still have on.
5. I will only exit with reason ie. a reverse pattern or price goes back under the yellow 30Sma. etc.

Well that is all for now.

cheers

TEB

Thanks Teb !

Your work and contributions are always appreciated !


Bluesteele

thanks teb
could you please post more example

sure

I will, But the problem is, I Trade on Oanda and I can never get the charts on here,
but next week when I am doing trades I will get some charts from mt MT5 at the same time

cheers

TEB

Hi, TEB
Very interesting. I'm looking forward to reading your trading plan : Initial stop loss, Taking profit, management of the trade....

TIA

Best regards

BBF

Where was your entry level on the image? By the way, I tend to think horizontal S/R lines seem more accurate than diagonal trend lines for entries.

"...S/R lines seem more accurate than diagonal trend lines for entries
..." I agree with you esp.on the big boy charts ie. 4 hours and over
But here i am just looking for a retracement
i know the trend.

Entry is the 2nd break

Cheers

teb

hi TEB

love your threads. will be keeping an eye on this one...

Right on! Looking forward to seeing more examples

I've been wondering were you've gotten to....

Something new....I'm all eyes,your willingness
to share puts you at the top of the class.

lore

ENTRY:
1st. Break a. Trend line break(could be channel or triangles) b.1 2 3 break c. "W" & "W" d. Over bought/ Over sold e. 50% Fib
2nd. Break ENTRY Candle formations a. 1 2 3 break b. inside candle c. outside candle d. 3 candle reversal e. Pin Candle.
EXITS:
Only with a Reason: a. Reverse pattern b. Break back to the other side of the 30Sma (c. Fibb)
STOP LOSS:
a. Last big swing. b. Move Stop loss with the price action swing as protection.


tebhttp://cdn.forexfactory.com/images/s...m/big_grin.gif

Thanks for sharing TEB63
Only a question by sma you mean simple ma or smothed ma?

simple ma

Hi Teb

first of all....I just wanted to say I am a BIG fan of your threads.

in the example chart you posted, (USDCHF) price is in a clear downtrend and then it starts moving up against the trend, and then breaks through the trend line and resumes.

When price moves against the trend it is like a spring is getting wound tighter and then once it is wound tight enough, it pops and breaks the trendline and off we go again.

I wish there was a way for me to monitor numerous currency pairs and have an easy way to let me know when price is "setting up".

It seems to me that price needs to have a healthy pull back before resuming.

I would never pay for a signal services but I would love to have a way to be notified.....watch "this pair" as is moving against the trend.

Using the 3 moving averages in your system, if there was a way to be alerted when price closed above (in a downtrend) above the 30 MA

PGPB

PS. I am a fellow Torontonian.....if you ever teach a in person trading class let me know

Hello TEB

I dont know you but i m a fan of trend trading and i will be following your thread,

Thank you for sharing,and happy new year
Yoenes

hi, teb.

why this trade is still runing??

the price goes back under the yellow 30sma.

thank you.

thanks for your nice words

What you say is one of the reasons I mostly watch the 30 mins charts
I do cheat a little to figure out the pairs I am going to watch lol

I will likely post the pairs I will be watching every day.

right now I am watching
audusd ,usdcad, usdchf, usd/jpy and eurchf and gbpchf

of coarse I would not really trade untill tuesday other then the trades I have on

TEB, you have taught me a lot with your other threads, I wish you all the success you deserve so much.

To a successful 2011 !





_________________
michael

I wish everyone a good year in life and trading

We have a lot of pairs looking to trend
But tomorrow (today) is a holiday almost everywhere.

so trade small or better wait until Tuesday and keep your powder dry

cheers

Thanks TEB, I learned alot from your threads. Mainly common sense approach to chart analysis.
Wish you healthy and prosperous New Year.