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World's Simplest System

  • #981
  • Nov 8, 2013 6:49am Nov 8, 2013 6:49am
Quoting TEB63
{quote} you will miss lots of trade set ups! its better to miss 3 bad ones and maybe miss a good one and take only 1 good trade - less is more in trading "...pullback makes it scary...or waiting for the pullback but price runs away and missing the chance" that is why its better set and forget your trades
yes thank you, this helps alot !
in wondering about yourself, you forgot what you came here to be part of
  • #982
  • Nov 13, 2013 9:45am Nov 13, 2013 9:45am
Looking at setting up a trade on the USDCHF H4....
Would you agree? Any comments ?
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in wondering about yourself, you forgot what you came here to be part of
  • #983
  • Nov 13, 2013 9:54am Nov 13, 2013 9:54am
Quote
Would you agree? Any comments ?

Don't know what Teb will tell, but in my eyes it's OK, though would be better if 4H ema was donwsloping.
  • #984
  • Nov 13, 2013 9:58am Nov 13, 2013 9:58am
Quoting PipThinker
{quote} Don't know what Teb will tell, but in my eyes it's OK, though would be better if 4H ema was donwsloping.
oh indeed, i have to keep an eye on the slope.....
thank you for replying
in wondering about yourself, you forgot what you came here to be part of
  • #985
  • Nov 13, 2013 12:49pm Nov 13, 2013 12:49pm
Quoting TEB63
{quote} all the time esp. when I am too busy to do any other system. The 200 ema is the best single tool in any trading system. its the bull/bear line in the sand and is used by the most traders of any tool also when price crosses it, on any time frame you will see the jet power hit....and price aften takes off. esp. if its cutting back into the higher trend TEB

Hi TEB
I also have only 200EMA. Its a floating S/R as well.
I suggest adding daily line indicator to NY close.This way you can see visually daily bias.Orange line EST is -7
Regards
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In trading, you have to be defensive and aggressive at the same time
  • #986
  • Edited 6:29am Nov 14, 2013 6:12am | Edited 6:29am
Quoting knkie
Looking at setting up a trade on the USDCHF H4.... Would you agree? Any comments ? {image} {image}
pip thinker is right about the slope!
but more to the point you do not have a clean move (hole) at the 2 point - price is hanging around - no clean rejection to the up
also you want at least 5 candles between point 3 and the break
- so I would not put in a limit order where you did
  • #987
  • Nov 14, 2013 11:16am Nov 14, 2013 11:16am
Quoting TEB63
{quote} pip thinker is right about the slope! but more to the point you do not have a clean move (hole) at the 2 point - price is hanging around - no clean rejection to the up also you want at least 5 candles between point 3 and the break - so I would not put in a limit order where you did
Thank you for the reply TEB !
Interestingly, i was re-reading my notes from your thread right after i put the trade in , and saw the "hole" comment you had made. I immediately knew it was not right, but i let it ride anyways....
Im still in the trade; the trade has come dangerously close to the SL and could go either way, but it is clear it was not a good setup.
Slope & Holes ! Important to remember And i see that NOW there really is a Hole on the 2/3 line........
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in wondering about yourself, you forgot what you came here to be part of
  • #988
  • Nov 15, 2013 7:48am Nov 15, 2013 7:48am
Hi all

simple and seemingly brilliant strategy this is, I just have one question so far; which support do you use for the SL? I see that Teb uses the nearest sometimes but also the steepest occasionally.

Thanks
  • #989
  • Nov 16, 2013 9:10am Nov 16, 2013 9:10am
Quoting Zaven
Hi all simple and seemingly brilliant strategy this is, I just have one question so far; which support do you use for the SL? I see that Teb uses the nearest sometimes but also the steepest occasionally. Thanks


I think where you put your stop is the most important part of trading.
its a real science not an art.

if you use a good RRR and good stops and have even less then mediocre entry you can make money
But
you can have spot on entries and poor stops and poor RRR and you will loss money - NO QUESTION!!!
  • #990
  • Edited 6:15am Nov 17, 2013 6:00am | Edited 6:15am
Man I love FF so much junk




To trade keep it simple

1. Find a trend-

2. Find a good stop - whatever you like - S/R S/D "OO" & "50" the other side of a 50, 100 200 MA whatever.

3. Find a target - whatever you like - S/R S/D ”OO" & "50" the other side of a 50, 100 200 MA whatever (I like it on a higher time frame)

4. make sure you have a good RRR

I like 1 to 4 so I can target 3 to 1 and if things change I can take it off at 1 to 2 and feel like a winner or better let it run.

5. Only trade in tradable times. Best 2am to noon est. or if you are trading on day chart NY close - 5pm est.

6. Find a trigger - The least important part of trading - my triggers keep getting simpler and simpler.

7. Put on your trade and take your chances. After that it’s a crap shot

8. Set and forget ( I check 2 or 3 times a day) less is more in trading


RUN RUN RUN fast from anything else

The more the tools the worst it is

Ie. More than two tools ie Macd. MA, RSI etc.

And I will tell you why because if you get complex you are fighting head to head against the super computers who work 24/7

and you will lose big 95% of the time!! And they are looking for you! People complex "up" because they think it gives them more control in fact its less.

The two things we can do better than computers are (1) simple (2) follow what they as the big boys are doing.

We cannot be the well trained bank elephant but we can be the flea on his back. ( LOL)
  • #991
  • Edited 6:54am Nov 17, 2013 6:41am | Edited 6:54am
Quoting Zaven
Hi all simple and seemingly brilliant strategy this is, I just have one question so far; which support do you use for the SL? I see that Teb uses the nearest sometimes but also the steepest occasionally. Thanks
\

I am sorry I missed the real meaning of your question as to stops

ok on this system I would look to stops - This is the most complex thing I do!! And that is because I see it as the most important
1. I would for at least 25 pips plus spread plus 1 pips.
2. I would look for the major swing on the 4 hour (or the smallest time frame) this is a bit subjective.
3. I would watch what was going on, on the two higher time frames day and week.
ie. If you have a major swing of 10 to 20 pips more on the day or week rather then the 4 hour, I would use that.
5. Last I would keep an eye on the whole numbers ie. "00" and "50"
ie. in an uptrend I would not put the stop at 1.004 rather I would use 0.9995

I hope that helps
  • #992
  • Nov 17, 2013 10:18am Nov 17, 2013 10:18am
Quoting TEB63
{quote} I am sorry I missed the real meaning of your question as to stops ok on this system I would look to stops - This is the most complex thing I do!! And that is because I see it as the most important 1. I would for at least 25 pips plus spread plus 1 pips. 2. I would look for the major swing on the 4 hour (or the smallest time frame) this is a bit subjective. 3. I would watch what was going on, on the two higher time frames day and week. ie. If you have a major swing of 10 to 20 pips more on the day or week rather then the 4 hour, I would...
Thank you teb for still being on this thread after 5 years. Your reply influenced me to trade with the 4hr chart instead. I was going to try this on the 15 min chart because I was obsessed with scalping, but now I see that:

1) Higher time frames are more reliable (as someone said anything below is pretty much noise)
2) More time to plan the trade. I can also concentrate on other things rather than constantly checking the market.
3) Spread becomes "smaller" as TP and SL is bigger for the higher tf, hence odds of winning is more even. It also means I can trade lots of other pairs, when previously I only looked at pairs with max 2.5 pip spread.

I can't wait to try this tmr...I see that USD/CHF is primed for a setup.

Once again, thank you!
  • #993
  • Nov 18, 2013 12:28am Nov 18, 2013 12:28am
I hope this is right...

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  • #994
  • Nov 18, 2013 9:06am Nov 18, 2013 9:06am
I think you are good
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  • #995
  • Nov 19, 2013 6:26pm Nov 19, 2013 6:26pm
Quoting TEB63
I think you are good {image}
I am quite thrilled to find that my entry, SL and targets are the same as yours. Even our broker is the same. First target just got hit

May I know though...did you purposely waited for price to retrace to the resistance candle's close? I got in at 1.3485 too but probably would have gotten in at 1.35 if I had seen it earlier. I suppose I shouldn't be trying to enter near a round number...
  • #996
  • Nov 20, 2013 4:24pm Nov 20, 2013 4:24pm
Quoting Zaven
{quote} I am quite thrilled to find that my entry, SL and targets are the same as yours. Even our broker is the same. First target just got hit May I know though...did you purposely waited for price to retrace to the resistance candle's close? I got in at 1.3485 too but probably would have gotten in at 1.35 if I had seen it earlier. I suppose I shouldn't be trying to enter near a round number...

congrads!!!!

No not really

the really nice thing about the 4 hour and above TF
most times you get lots of time to get in
retests and ranges around good entries

whole number thing I am more concerned about SL and Targets rather then enteries
  • #997
  • Nov 20, 2013 5:36pm Nov 20, 2013 5:36pm
Quote
Thank you teb for still being on this thread after 5 years.

Hi Zaven!
If it's not too much to ask, could you tell about how intensive you've been testing Teb's system, and - most interesting - how much trades do you have with it on average? Like 1-2 a week? Or like 2-3 in a month?
  • #998
  • Nov 20, 2013 7:02pm Nov 20, 2013 7:02pm
Quoting PipThinker
{quote} Hi Zaven! If it's not too much to ask, could you tell about how intensive you've been testing Teb's system, and - most interesting - how much trades do you have with it on average? Like 1-2 a week? Or like 2-3 in a month?

I traded this system for 3 years when I 1st started
now I only trade it when strength/weakness is not working
ie, summer xmas

other wise I really so not use tools
tools are like training wheels
when we 1st start we need them
  • #999
  • Nov 21, 2013 11:18am Nov 21, 2013 11:18am
Quoting TEB63
{quote} I traded this system for 3 years when I 1st started now I only trade it when strength/weakness is not working ie, summer xmas other wise I really so not use tools tools are like training wheels when we 1st start we need them

Are u saying you are primarily trading relative strength now and only trade the 200 EMA system occasionally? Any words on the strength/weakness system vs. simplest system?
  • #1,000
  • Nov 21, 2013 6:28pm Nov 21, 2013 6:28pm
Quoting PipThinker
{quote} Hi Zaven! If it's not too much to ask, could you tell about how intensive you've been testing Teb's system, and - most interesting - how much trades do you have with it on average? Like 1-2 a week? Or like 2-3 in a month?
I just got here Pip...hope you would stick around cause it seems kinda quiet in here...guess people don't like simplicity

I am also concerned with the frequency of trades...but this is my first week and already I've taken 2. That is a massive amount for me. 8 trades a week, if it can manage a good win ratio with the 2 targets teb uses it would mean some serious percentage increase in capital every month.

Speaking of trades, here's another one that hit first TP a couple hours ago. I hope it's actually valid and not me being lucky...

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