TEB: Retracement Wave Surfer System (TEB: Retracement Wave Surfer System)

Over the past two months I have been trading primarily using the new system.
A trading plan can be viewed as:
Trend - Pullback - Breakout/Breakout - Wave Riding - Reasonable Exit.

It comes from wanting to have a simpler system.
I define it 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 losses.
5. A set-it-and-forget-it system.
* Where I can see deals from a mile away
* No need to stay in front of the computer all day.
6. Set it and forget it
7. Safer trading, i.e. trend/pullback/breakout/breakout

1. Tools:
*3 Sma 120, 60 and 30
*Candles and patterns
*Trend lines and S/R
(You may see lies, especially 50%)

2. Chart:
*80% of the time I'm on the 30 minute chart:
* I use 15 or 5 minute charts for better entry opportunities, but rarely for setup purposes.
*I do watch the 1 hour, 3 hour and daily charts.
But over 80% of my trades are done on the 30 minute chart and the system is set up for this time frame.
I look for one or two deals a day..I usually find them.

3. Multi-time frame trading:
3 Sma 120,60 & 30 will show us what happened,
2 hours, 1 hour and 30 minutes. chart. So it's an MTF trade!

We use 120 Sma (red) and 60 Sma (green) to give us the overall trend.
1. Same direction 2. Stacking 3. Separate growth
We do use the 30 Sma (yellow) with trends, but its main use is spread space.

4. Clear rules and plans:
I have a trading plan of about 12 pages that I share when I trade.
Most of the content is the same as what I shared in my previous post.

5. Big run:
One of the changes I made in this thread was to look for large runs more. Profit margin of at least 3:1 Exit: Reversal Pattern B. Breakout to the other side of 30Sma c. R/S (d. Fibb)

6. Set and forget rules:
Again, I will share the rules when it comes to trading

7. Transactions are safer:
Right now. Trends, retracements, breakouts/breakouts, etc.

entry:
First. Rest a . Trend line breakout (can be channel or triangle) b . 1 2 3 Rest c . "W" & "W" d. Overbought/oversold e . 50% Fibonacci
second. Break into candle pattern a. 1 2 3 break b . Inside candle c. Outside candle d. 3 candle reversal e . Needle candle.
quit:
Just for a reason: a. Reversal pattern b . Back to the other side of 30Sma c . R/S ( d . Faber)
Stop loss:
a. The last big swing. b. A trailing stop that protects against price action fluctuations.

I will ask the following questions and answers: Please read the topic before asking.
B. Please do not add anything to the tread.
New ideas about the system are always welcome
This is my system and I wanted to share it, it works great.
C. I do not use computer programs to trade . Please talk about one of them in the thread
D. Always have a positive attitude toward everyone.

I trade URUSD USD CHF GBP/USD USD JPY USD/CAD AUD/USD
NZD/USD EUR GBP EUR CHF GBPCHF EUR AUD EUR JPY GBP JPY Australia DJP Y & GOLD & SILVER

Especially the 6 purple ones.

My 6 favorite things to trade


This is a trade I made and it's still ongoing.
It is a trendline breakout (yellow line) with a trend and lots of spread room
1. The green Sma below the red Sma all move in the same direction and grow downward.
2. Price exceeds yellow 30 Sma and returns below
3. We see the second breakout point, the light blue line (1 2 3 breakout point), which is the entrance,
4. The red line is the stop loss line. The first one is the entry, and the bottom one is the one I still wear.
5. I will only quit if I have a reason, ie. A reversal pattern or price moving back below the yellow 30Sma. etc.

Okay, that's all for now.

cheers

TEB