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Extreme TMA System

  • #6,461
  • Mar 21, 2012 11:15am Mar 21, 2012 11:15am
IŽm short EU again.
Observation is the path to discovery.
  • #6,462
  • Mar 21, 2012 11:18am Mar 21, 2012 11:18am
Quoting Alorente
IŽm short EU again.
Now, even if it goes a bit higher, I donŽt care because my intention was to hold to the H4 band all the way. So by swing trading I already gained +30 on the first trade and I just gained +30 on the second also. A whopping +60 pips per pair over holding all the way.
Observation is the path to discovery.
  • #6,463
  • Mar 21, 2012 11:20am Mar 21, 2012 11:20am
Took this quick scalp on E/U M5.. What say ye?

revrobwimb
Attached Image (click to enlarge)
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  • #6,464
  • Mar 21, 2012 11:20am Mar 21, 2012 11:20am
Hi Al,

What made you trigger the sell button on EU and GU, as the price is not at the top band of TMA 15M ?
  • #6,465
  • Mar 21, 2012 11:20am Mar 21, 2012 11:20am
Quoting Alorente
Now, even if it goes a bit higher, I donŽt care because my intention was to hold to the H4 band all the way. So by swing trading I already gained +30 on the first trade and I just gained +30 on the second also. A whopping +60 pips per pair over holding all the way.
And we are not down 1/3 of the H4 TMA size, so if you do this 6 times, you will gain 180 pips over the 230 you would have made from only holding. So 230 + 180= 410 pips. And with less risk because you are out 50% of the time.
Observation is the path to discovery.
  • #6,466
  • Mar 21, 2012 11:23am Mar 21, 2012 11:23am
Quoting 15pips
Hi Al,...how do you find the idea to use flexible TMA periods?at the beginning you said that M15 was the best,than Altoronto came with MTF TMA.You choose-M15,H1,H4 as one of the best MTF.Between the lower and upper band of H4 why dont you try to divide the tunnel in Fibonacci parts?like on my attachement....this is possible on MT4 flexible timeframe(M56,M91,M120,M148,M240)maybe with a indi Period_Converter_opt


just an idea..
IŽll look at it tonight. Thanks.
Observation is the path to discovery.
  • #6,467
  • Mar 21, 2012 11:26am Mar 21, 2012 11:26am
Quoting Alorente
IŽll look at it tonight. Thanks.
EU is weaker than GU at this time, so GU made it to 50% retracement but EU only to 38.2%. I had seen that before so when it stalled I jumped in. By the way, you see the stall even better still on M1 chart.
Observation is the path to discovery.
  • #6,468
  • Mar 21, 2012 11:31am Mar 21, 2012 11:31am
Quoting Alorente
EU is weaker than GU at this time, so GU made it to 50% retracement but EU only to 38.2%. I had seen that before so when it stalled I jumped in. By the way, you see the stall even better still on M1 chart.
Now IŽm watching GU on M5 because it is ahead of EU. I will watch closely at the Coral because it coincides with S1. If it stalls there for 3 bars IŽll close the trade.
Observation is the path to discovery.
  • #6,469
  • Mar 21, 2012 11:31am Mar 21, 2012 11:31am
Quoting Alorente
IŽm now short GU again.
Summary
beat me to the stall.
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  • #6,470
  • Mar 21, 2012 11:33am Mar 21, 2012 11:33am
Quoting revrobwimb
Took this quick scalp on E/U M5.. What say ye?

revrobwimb
Exactly what I did.
Observation is the path to discovery.
  • #6,471
  • Mar 21, 2012 11:34am Mar 21, 2012 11:34am
we are in green already.

Quoting Alorente
Now IŽm watching GU on M5 because it is ahead of EU. I will watch closely at the Coral because it coincides with S1. If it stalls there for 3 bars IŽll close the trade.
Follow me to the Promised Land
  • #6,472
  • Mar 21, 2012 11:35am Mar 21, 2012 11:35am
Quoting Alorente
Exactly what I did.
If youŽre scalping, it is a good idea to set a BE stop about now. I wonŽt do it because my aim is still the bottom of the H4 band so I will give it room.
Observation is the path to discovery.
  • #6,473
  • Mar 21, 2012 11:38am Mar 21, 2012 11:38am
Quoting Alorente
If youŽre scalping, it is a good idea to set a BE stop about now. I wonŽt do it because my aim is still the bottom of the H4 band so I will give it room.
Because I am not seeing real selling in this move, I may take my 20 pips at the Coral if it gets there. That would put me +80 on the pair plus the pips from the top band.
Observation is the path to discovery.
  • #6,474
  • Mar 21, 2012 11:38am Mar 21, 2012 11:38am
Quoting Alorente
If youŽre scalping, it is a good idea to set a BE stop about now. I wonŽt do it because my aim is still the bottom of the H4 band so I will give it room.
Al I want you to know I really appreciate you identifying what you see on the charts and what you are doing in real time today it is VERY helpful and I am learning alot.

Thank you I hope this is something you will continue doing
  • #6,475
  • Mar 21, 2012 11:40am Mar 21, 2012 11:40am
finally close the trade

http://i41.tinypic.com/f44s2a.jpg

good day!
MY telegram channel: https://t.me/https://t.me/tnavieurusd
  • #6,476
  • Mar 21, 2012 11:42am Mar 21, 2012 11:42am
Quoting Alorente
I feel you were the victim of stop loss hunting during the thin Asian session, with things turning to normal in the London session. One of the reasons not to have a tight stop loss at night, The alternative is to wait for the morning session before entering the order. It stinks, but that is quite common at night unfortunately.
Yes I've been struggling with how to use my stop loss. I've always been a proponent of tight stop losses but I've never traded a system like this. I've always traded more trend following systems.

I'm going to go with much wider stops from now on, and adjust my position size accordingly of course.

I was able to catch the EURJPY and EURUSD fall to make up some of my losses. I'm using smaller position size now so it didn't make it all up but close.

Thanks Al. I've learned a ton these past few weeks and continue to learn every day.

Rick
  • #6,477
  • Mar 21, 2012 11:47am Mar 21, 2012 11:47am
Out of GU. For +12 pips
Observation is the path to discovery.
  • #6,478
  • Mar 21, 2012 11:48am Mar 21, 2012 11:48am
Quoting Alorente
Out of GU. For +12 pips
I am not seeing any selling so I exited. Most probably weŽll head higher a bit and I can reenter then.
Observation is the path to discovery.
  • #6,479
  • Mar 21, 2012 11:49am Mar 21, 2012 11:49am
Closed EU +5 pips.
Observation is the path to discovery.
  • #6,480
  • Mar 21, 2012 11:49am Mar 21, 2012 11:49am
Quoting Alorente
Out of GU. For +12 pips
Haha nice.
USD Est Non Mortuus
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