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TEB2

  • #61
  • Edited Jun 8, 2011 11:37am Jun 7, 2011 2:46pm | Edited Jun 8, 2011 11:37am
Hello Traders,

I'm new to the forum and came across this method that I'm going to give a shot. I hope that I will be able to contribute to the thread in a manner that will help us all achieve our trading goals.

I have downloaded the indicator that was created in the previous post and I also have the 5,3,3 and 14,3,3 stochastics on my charts. This way I'm able to get an alert when a new trade generates but I also watch the charts with stochastics to learn how they move and slope with price.

The chart combination that I will be using are H4 for the main trend and then H1 for the signals. A few hours back there was a long signal but I passed on it because the 14,3,3 stochastics were overbought. I've attached a screenshot and placed a vertical line on the candle where the most recent long trade could have been entered using the H4 and H1 chart combination.
  • #62
  • Edited Jun 8, 2011 11:37am Jun 7, 2011 6:31pm | Edited Jun 8, 2011 11:37am
Here is a screenshot of my using this TEB2 method. I love the simplicity of the method very much and how the higher timeframe allows for me to spend time doing other things I enjoy.
  • #63
  • Jun 7, 2011 6:40pm Jun 7, 2011 6:40pm
I may be the only person who is using this indicator or does not know exactly how it works but I have noticed that the TEB2 indicator needs to be refreshed from time to time. The valid short signal that was just generated did not produce on the TEB2 indicator until I refreshed my charts by switching to a different timeframe then back to what I was using.

At one point the last 3 bars on my higher timeframe (H4) were all red and then a few minutes later, they were all yellow. I'm not great with indicators so I'm not sure what this is called but I just wanted to point it out for others who may want to use it. I will continue to use the indicator because I do like it but I will also continue to keep the stochastics on my charts so I can confirm that the signals are valid and also learn how stochastics moves and works.
  • #64
  • Jun 8, 2011 1:39am Jun 8, 2011 1:39am
Quoting Aston Martin
I may be the only person who is using this indicator or does not know exactly how it works but I have noticed that the TEB2 indicator needs to be refreshed from time to time. The valid short signal that was just generated did not produce on the TEB2 indicator until I refreshed my charts by switching to a different timeframe then back to what I was using.

At one point the last 3 bars on my higher timeframe (H4) were all red and then a few minutes later, they were all yellow. I'm not great with indicators so I'm not sure what this is called but...
Hi,
i'm happy that you use the indicator.
The indicator is only a visual help you still need to have/look at Sthocastic for confirmation.

The indicator is Multi Time Frame one, so this means that, for example, if you use H4 H1 settings the last 4 dots from H4 row can change since the H4 Stochastic are changing.

So this means that sometimes the indicator miss a signal because when it first draw the dots they are yellow and if it redraw the dots and they are red/gree but there are more then 2 boxes of the same color it doesn't print the arrow.

I hope that is clear, if you have any question feel free to ask

gspe
  • #65
  • Jun 8, 2011 5:09am Jun 8, 2011 5:09am
Thank you for creating the indicator, it is a nice touch and helpful as well. Thank you for also explaining how it works. I appreciate that.

Are you trading this method also or did you just happen to create an indicator for it in your spare time?

I love the simplicity of the method and will use it as my only trading method due to the fact that it allows for me to not be stuck to the computer screen all day long.

Once again, thanks for the help and information.

Quoting gspe
Hi,
i'm happy that you use the indicator.
The indicator is only a visual help you still need to have/look at Sthocastic for confirmation.

The indicator is Multi Time Frame one, so this means that, for example, if you use H4 H1 settings the last 4 dots from H4 row can change since the H4 Stochastic are changing.

So this means that sometimes the indicator miss a signal because when it first draw the dots they are yellow and if it redraw the dots and they are red/gree but there are more then 2 boxes of the same color it doesn't print the arrow.

I...
  • #66
  • Jun 8, 2011 6:11am Jun 8, 2011 6:11am
I've attached two screenshots as I begin to manage my short trade from last night. In the first screenshot you can see that I took another short position when the valid short rules were met again. I do want to state that every time a signal is generated and I have the ability to add to my position, I won't.

In my second screenshot, you can see why I added another short position. I added to my position in this situation because I felt the stochastics on the H4 chart still had room to go before bottoming out. Had the H4 stochastics been close to being oversold, I would not have added to my position and just continued to manage my original position.

In my third screenshot I just labeled where I would like to see price reach in order for me to feel confident that the uptrend may actually be over and we may be in a bearish market. Although prices are falling right now, to me, we are still in a bullish market and this move south may just be a retracement.

All I'm doing is waiting for a valid signal and then reacting to it. Once I've pulled the trigger on my trade, I then just manage it to the best of my ability. Since I'm using the time frame combination of H4, H1 I don't need to do much. I believe in giving the trades time to develop. As my trades continue to develop, I will continue to add post and screenshots showing what I'm thinking.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Added To My Position.png Size: 83 KB
Click to Enlarge Name: H4 Screenshot.png Size: 79 KB
Click to Enlarge Name: Price Zones.png Size: 99 KB
  • #67
  • Jun 8, 2011 10:34am Jun 8, 2011 10:34am
Quoting Aston Martin
I've attached two screenshots as I begin to manage my short trade from last night. In the first screenshot you can see that I took another short position when the valid short rules were met again. I do want to state that every time a signal is generated and I have the ability to add to my position, I won't.

In my second screenshot, you can see why I added another short position. I added to my position in this situation because I felt the stochastics on the H4 chart still had room to go before bottoming out. Had the H4 stochastics been close to...
Hi Aston Martin

I just wanted to thank you for posting your work with this method.
I have downloaded the indicators and may give it a try.
Teb, produces great systems.

PGPBP
  • #68
  • Jun 8, 2011 10:50am Jun 8, 2011 10:50am
Hello PGPB,

Thanks for the support and kind words. I will surely continue to post my work. I'm trading this method on an MT4 account and with Oanda as well so in about 10 minutes when my Oanda platform generates a new H4 candle, I will be posting more screenshots showing how my trades have developed.

Yes, TEB does share some great methods. I will be using this method as my only trading method because it fits my personality perfectly. I don't want to be glued to a computer all day long and this method allows for me to enjoy my other interest in life.

Quoting pgpb
Hi Aston Martin

I just wanted to thank you for posting your work with this method.
I have downloaded the indicators and may give it a try.
Teb, produces great systems.

PGPBP
  • #69
  • Jun 8, 2011 11:38am Jun 8, 2011 11:38am
I've attached two more screenshots explaining my thought process on my trades. I've closed out the two short trades that I had open for a profit of 15.85%.

I have explained in both charts what I was thinking and why I decided to close out the trades.

I now and sitting on the side waiting for the next signal. Right now, I'm still not convinced that the bullish trend has actually come to and end so if a valid long signal sets up sometime today, I will take it if I like what the indicators are telling me. If my Zone 1 area (from a previous post) is broken, I won't just enter short. I would like to see a retrace to test that area and then if I get a valid short signal, I will enter short again.

I tried adding my new screenshots but I guess I exceeded the size allow with having 5 screenshots already in the thread. So what I did was delete the first two screenshots I saved to make room for the new ones. I hate that it seems like I will have to continue to do this but I guess there is a size limit. For those who want to see any attachments that I have deleted, please send me a quick email and I will gladly email you the screenshots so you can view them.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Closed Out My Trades.png Size: 78 KB
Click to Enlarge Name: Close Out Explanation.png Size: 90 KB
  • #70
  • Jun 8, 2011 3:05pm Jun 8, 2011 3:05pm
I logged back in to see that I'm a Member now and not a Junior Member. I also see that must have had something to do with why I had a limitation on the size of the screenshots I was able to have active at a given time.

So what I have done is, I added the two screenshots I had to deleted in this post.

Sorry for the mix up but there was nothing I could have done but now that I'm a member, I hope not to have that problem again.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Long Trade.png Size: 90 KB
Click to Enlarge Name: First Trade.png Size: 87 KB
  • #71
  • Jun 8, 2011 3:10pm Jun 8, 2011 3:10pm
Here are two more screenshots explaining my thought process. Right now I'm sitting on the sidelines waiting for the coach (the market) to give me the play (setup a trade).

Hopefully I'm not taking over TEB's thread either. I came across this thread and it fit my personality and situation so I wanted to contribute to the thread. As I've been contributing, I see I'm mainly the only person but that is fine with me. I'm not contributing to win a gold medal or anything, I just want to get my thoughts out and if they can help somebody, then that's even better.

If I am stepping on anyones toes, I'm sorry and please let me know.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Strong Support.png Size: 83 KB
Click to Enlarge Name: H4 Thought Process.png Size: 96 KB
  • #72
  • Jun 8, 2011 4:06pm Jun 8, 2011 4:06pm
Im liking the simplicity of your charts Aston, keep them simple as they are, wish u many pips. Charts like these are really helping me to keep an eye on the hourly while keeping it so simple.

Look forward to seeing more of your charts
  • #73
  • Jun 8, 2011 4:50pm Jun 8, 2011 4:50pm
I just love simplicity WilteredFired. If my trading is congested then my decision making will be the same way. I just look at the market in a very simple form.

I don't like things being complicated at all.

I will continue to post charts in this same fashion. I hope my postings continue to help you out and I wish you many pips as well.

Quoting WilteredFire
Im liking the simplicity of your charts Aston, keep them simple as they are, wish u many pips. Charts like these are really helping me to keep an eye on the hourly while keeping it so simple.

Look forward to seeing more of your charts
  • #74
  • Jun 8, 2011 4:55pm Jun 8, 2011 4:55pm
Wow Aston, I like your thinking. Keep up the work!
  • #75
  • Jun 8, 2011 5:46pm Jun 8, 2011 5:46pm
Thanks Rexz. I appreciate the kind words. I will continue to do my best and hopefully others will be able to benefit from it.

Quoting Rexz
Wow Aston, I like your thinking. Keep up the work!
  • #76
  • Jun 8, 2011 11:28pm Jun 8, 2011 11:28pm
Here are my most recent screenshots. Right now, things are neutral in my eyes. Although the H4 stochastics are rising, the H1 stochastics are declining so I'm not confident in pulling the trigger.

I want to be patient and more confident in the trade going in my favor. Until I feel confident, I will wait on the side.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: A New Long Signal.png Size: 78 KB
Click to Enlarge Name: H4 Long Trade.png Size: 78 KB
  • #77
  • Jun 9, 2011 3:29am Jun 9, 2011 3:29am
Had a nice setup forming on GbpUsb on the hourly to go long, entered with a 14pip s/l after the signal's retracement to take around 50 pips profit by morning (just around the R! level)

Was a nice looking setup. I'll post the chart later if anybody wants.
  • #78
  • Jun 9, 2011 5:00am Jun 9, 2011 5:00am
Quoting WilteredFire
Had a nice setup forming on GbpUsb on the hourly to go long, entered with a 14pip s/l after the signal's retracement to take around 50 pips profit by morning (just around the R! level)

Was a nice looking setup. I'll post the chart later if anybody wants.
Yes please post the charts.
  • #79
  • Jun 9, 2011 8:36am Jun 9, 2011 8:36am
Here is a screenshot of my short trade that I just took. This trade is a bit risky in my eyes because of stochastics on the H1 chart but it is a valid trade so I'm taking the trade.
Attached Image (click to enlarge)
Click to Enlarge Name: Short Trade Triggered.png Size: 88 KB
  • #80
  • Jun 9, 2011 8:37am Jun 9, 2011 8:37am
Yes WilteredFire, I also think you should post your chart. Did you take the trade of was it just a setup that you saw develop?

Quoting Rexz
Yes please post the charts.
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