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TEB: 20 RSI and 5 & 12 EMAs

  • #141
  • Edited 7:20am Apr 5, 2014 6:45am | Edited 7:20am
Quoting bappafx
{quote} i mean we not get daily entry with it in one pair, right ?? i have to wait for complete all conditions to take trade, sometimes i have to wait 2-3 days to get perfect entry ,right ?? hope you understand sorry for to many questions

well yes we have to wait for all the conditions always or we have no edge.
Again you are trying to anticipate a trade on one pair or maybe a few pairs.
It does work that way, you can go weeks and not trade a pair.
ie
the eurchf is a bad pair to trade it can snake for months in chop.
other pairs
like the eurusd or the audusd you can likely take a trade 1/2 the days.

you have to see what the market gives and take that only
you do not need a lot of trade to make a lot of pips
just a few good ones - I took 5 trades that is a great number for a week.
normally more trades means
(1) more loses - and that happens! Losing trades last a short time so you end up with more trades-.
(2) your trades are highly correlated which is like taking the same trade 2 times - good if you win not so good if you lose.
  • #142
  • Apr 5, 2014 9:01am Apr 5, 2014 9:01am
Quoting TEB63
{quote} well yes we have to wait for all the conditions always or we have no edge. Again you are trying to anticipate a trade on one pair or maybe a few pairs. It does work that way, you can go weeks and not trade a pair. ie the eurchf is a bad pair to trade it can snake for months in chop. other pairs like the eurusd or the audusd you can likely take a trade 1/2 the days. you have to see what the market gives and take that only you do not need a lot of trade to make a lot of pips just a few good ones - I took 5 trades that is a great number for...
Hy Teb63,

What is your winning % on trades...I know this is very individual but just curios as you working with this strategy long time and have good umderstanding?

Regards
  • #143
  • Apr 5, 2014 10:01am Apr 5, 2014 10:01am
Quoting TEB63
{quote} well yes we have to wait for all the conditions always or we have no edge. Again you are trying to anticipate a trade on one pair or maybe a few pairs. It does work that way, you can go weeks and not trade a pair. ie the eurchf is a bad pair to trade it can snake for months in chop. other pairs like the eurusd or the audusd you can likely take a trade 1/2 the days. you have to see what the market gives and take that only you do not need a lot of trade to make a lot of pips just a few good ones - I took 5 trades that is a great number for...
thanks for explain it, bdw i like to trade in jpy pairs only, audjpy,eurjpy and gbpjpy is on my target, i was backtest with this three pairs and yes these results are amazing with this pairs. waiting for monday.

and also i am agree with you that we have to see what market want to say , because market never care anyone, its going with his rules, we have to understand what market want, we all know that trend is our friend .
  • #144
  • Edited Apr 6, 2014 9:29am Apr 5, 2014 12:52pm | Edited Apr 6, 2014 9:29am
Quoting Zokynho
{quote} Hy Teb63, What is your winning % on trades...I know this is very individual but just curios as you working with this strategy long time and have good understanding? Regards

lol
Well some times really good- like this week sometimes not.
- but at 3 to 1 RRR it always works out ok for me.
- I think you as a new person should be shooting for a 50% win rate.

To be clear if all the trades were the same 100 pips SL

Then at 50% win
2 loses @ 100 pips = 200 pips (loss)
2 wins @ 300 pips = 600 pips (Win)
A total winning of = 400 pips (Win)
  • #145
  • Apr 5, 2014 12:54pm Apr 5, 2014 12:54pm
Quoting bappafx
{quote} thanks for explain it, bdw i like to trade in jpy pairs only, audjpy,eurjpy and gbpjpy is on my target, i was backtest with this three pairs and yes these results are amazing with this pairs. waiting for monday. and also i am agree with you that we have to see what market want to say , because market never care anyone, its going with his rules, we have to understand what market want, we all know that trend is our friend .

you may be to small in what you are looking at
the pound and eur are very close
the aud is quite different of coarse

and of the majors for any trend system the JPY is the hardest pairs to trade
go for 3 to 1 RRR for sure as you will have lots of stop outs

good luck
  • #146
  • Apr 5, 2014 5:41pm Apr 5, 2014 5:41pm
Would you advise this system at all for say 1 hour, 30 min as trend and 5 min entry? during certain sessions?

Lemme know
  • #147
  • Apr 5, 2014 7:04pm Apr 5, 2014 7:04pm
Quoting dvanderlinde
Would you advise this system at all for say 1 hour, 30 min as trend and 5 min entry? during certain sessions? Lemme know

the 30 and 60 not big enough difference.

try 2 hour (4 hour if you only have it) 30 min and 5 min
only 3am to 11am EST you might get away.

but do 3 to 1 RRR
because you will be stopped out in the crazy time lol 5pm to 7pm EST
  • #148
  • Apr 5, 2014 10:04pm Apr 5, 2014 10:04pm
Hallo Zokynho;
can you please give us your RSI above/under 45/55" indi ?
Thx
  • #149
  • Apr 6, 2014 3:57am Apr 6, 2014 3:57am
Quoting yoyotrader
Hallo Zokynho; can you please give us your RSI above/under 45/55" indi ? Thx
Hy yoyotrader,

I will post this indi if TEB63 gives permission as this is his thread and he doesn't want another stuff to complicated things.I use this as it is the same thing as RSI indy,only for visual guide!

Regards!
  • #150
  • Apr 6, 2014 11:48am Apr 6, 2014 11:48am
Can someone please explain me that:
If RSI is above 55 at Daily + 4h + 1H, what is the unique strategy for long in this thread?
One can enter a trade at any point when these 3 conditions are met and be in profit as long as R:R is good.

Correct me if I'm wrong.
  • #151
  • Apr 6, 2014 12:25pm Apr 6, 2014 12:25pm
Quoting smilee89
Can someone please explain me that: If RSI is above 55 at Daily + 4h + 1H, what is the unique strategy for long in this thread? One can enter a trade at any point when these 3 conditions are met and be in profit as long as R:R is good. Correct me if I'm wrong.
Look also at the emas mention at first post. Your questions are answered if you read the thread.
  • #152
  • Apr 6, 2014 4:06pm Apr 6, 2014 4:06pm
Quoting ralf86
{quote} Look also at the emas mention at first post. Your questions are answered if you read the thread.
Believe me I read all.
It is you who did not read between my lines.
Of course when RSI is above 55 in all 3 TF's, the MA's should be on the same direction too. This is not something to discover any new.
  • #153
  • Edited 7:15pm Apr 6, 2014 4:17pm | Edited 7:15pm
Quoting smilee89
Can someone please explain me that: If RSI is above 55 at Daily + 4h + 1H, what is the unique strategy for long in this thread? One can enter a trade at any point when these 3 conditions are met and be in profit as long as R:R is good. Correct me if I'm wrong.
you can lose for sure if all you are doing is entering with three trends calls on the RSI with Good RRR
The MAs may not be in line with the RSI are at all.
I have always said finding a good entry is rather easy finding a good trade is not


what do you mean reading between the lines?
  • #154
  • Apr 6, 2014 4:20pm Apr 6, 2014 4:20pm
On my watch list for now:

CADJPY, USDCAD, AUDUSD, AUDJPY, EURCAD, GBPCAD, EURAUD, EURUSD, USDCHF and AUDNZD

missing any?
  • #155
  • Apr 6, 2014 4:57pm Apr 6, 2014 4:57pm
Quoting smilee89
{quote} Believe me I read all. It is you who did not read between my lines. Of course when RSI is above 55 in all 3 TF's, the MA's should be on the same direction too. This is not something to discover any new.
First of all im sure there nothing to read between that lines you mention. Second you are wrong, in smaller timeframe you can have an ema retracement, so its not following the rsi in that moment ...as TEB already said.
  • #156
  • Apr 6, 2014 5:00pm Apr 6, 2014 5:00pm
Quoting dvanderlinde
On my watch list for now: CADJPY, USDCAD, AUDUSD, AUDJPY, EURCAD, GBPCAD, EURAUD, EURUSD, USDCHF and AUDNZD missing any?
Well, i am keeping an eye on almost every pair but will having into account if its an Golden, silver or copper pair in case os posible trade.
  • #157
  • Apr 6, 2014 5:51pm Apr 6, 2014 5:51pm
Quoting TEB63
I got 411 pips for the week with this stysyem. One thought for the weekend. I see everyone trying to figure out the market - I am not sure you ever can really. But the best chance to do that is a top down system. This System is not designed to do that for sure - its a bottom up system. We re-act to what is going in the market and we do not anticipate it. Look at our charts 3 or 4 times a day - less when you have trade(s) on. Don't care what was going on yesterday or even 3 hours ago- it doesn't matter - I wiped all my charts on Friday so on Monday...

what times do you usually like to look at your charts? or do you just do it when you can?
He who knows when he can fight and when he cannot, will be victorious.
  • #158
  • Apr 6, 2014 6:12pm Apr 6, 2014 6:12pm
Hi Teb, been following for 3 yrs now. you have been doing a great job.thanks a lot.
i have down loaded oanda but the rsi does not look like yours. pls what do i do to get it exactly like yours.
  • #159
  • Edited Apr 7, 2014 3:51am Apr 6, 2014 6:37pm | Edited Apr 7, 2014 3:51am
Quoting TheDDReport
{quote} what times do you usually like to look at your charts? or do you just do it when you can?


Best times to trade
A normally do not start until 8am on Monday (on this system) - I trade in the NY time zone.
(sometime after 5am - but it safer to wait)
I want to see which way the big boys in London and Europe see the wind blowing.
Also just before the euro opening on Monday there can be wild moves as people re-position
Esp. after NFP

Then I just check 2 or 5 times a day - the more trades I have on the less I look
I can look in 10 minutes easy- and 3 minutes more if I look to putting a trade on.
As I said I live in the NY time zone so
I may check at,
(i) If I am up around 4am to 5am 9 (HKD & SGD close)
(ii) 7:30am to 9 am (news and FX NY open)
(iii) Around noon (London close - NY Lunch)
(iv) Around NY close (Aud open)
(v) Maybe around 8pm (JPY open)
On Monday and Tuesday I may check 5 times on Friday once
I like being light on trades over the weekend.
(Normally clear house before NFP Friday)

I like 3 to 5 winning trades a week with this system
I tend to have more loses on Monday and Tuesday-
In fact I have often thought of not trading on Monday or at least after the NY close
  • #160
  • Edited 7:32pm Apr 6, 2014 6:43pm | Edited 7:32pm
Quoting FXAction
Hi Teb, been following for 3 yrs now. you have been doing a great job.thanks a lot. i have down loaded oanda but the rsi does not look like yours. pls what do i do to get it exactly like yours.

on third chart go to trend line and pull it down to the 50% level on the RSI
- this is not needed by the way, I just do this so I can see what the three charts in a pair say really quickly
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