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MTF TMA

  • #121
  • Jan 14, 2011 3:09pm Jan 14, 2011 3:09pm
No need to thank me , iam just triing out this strat the first few times like you , its very close to the style i trade and so it caught my interest.
Its always good to have some people discussing trading and certain trades.

I watched your chart again , but to be honest i cant even see your upper D1 band?

First i thought its the fault of my modified template that it has broken D1 on mine but not on yours , but i rechecked it with the original and it also pierced D1 there (its more oscilating aroung D1 ...its friday and maybe not that wise to trade in favor for the AUD anyway )

And by the way thanks for the GPD/USD advice i totaly missed that , and now it seems to become a good oppurtunity
  • #122
  • Jan 14, 2011 3:34pm Jan 14, 2011 3:34pm
Thats what i meant with reenter the price came from the lowest D1 band and when it bounced of the lowest H4 i would have entered long , with tp at the upper H4 ( again its just how i use them)
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  • #123
  • Jan 14, 2011 3:44pm Jan 14, 2011 3:44pm
Quoting blutkehlchen
No need to thank me , iam just triing out this strat the first few times like you , its very close to the style i trade and so it caught my interest.
Its always good to have some people discussing trading and certain trades.

I watched your chart again , but to be honest i cant even see your upper D1 band?

First i thought its the fault of my modified template that it has broken D1 on mine but not on yours , but i rechecked it with the original and it also pierced D1 there (its more oscilating aroung D1 ...its friday and maybe not that wise to...
Baffled me too that I could see a clear breach on your chart and not on mine, probably a broker issue. Which broker are you using so we're singing from the same hymn book? I've got this running on FXOpen.

Like you say, not much activity now till next week so I'll be simulating over the weekend until I've got better at this. Anything to get out of going to the inlaws.
  • #124
  • Jan 14, 2011 3:52pm Jan 14, 2011 3:52pm
Quoting blutkehlchen
Thats what i meant with reenter the price came from the lowest D1 band and when it bounced of the lowest H4 i would have entered long , with tp at the upper H4 ( again its just how i use them)
Does this explain this last trade of yours: If price is hovering between the Lower D1 TMA and the Lower H4 TMA, you are primed for a long trade. You aren't necessarily waiting for a breach of the Lower D1 TMA. Your entry is triggered when price goes back up through the Lower H4 TMA. Exit at the Upper H4 TMA.
  • #125
  • Jan 14, 2011 4:05pm Jan 14, 2011 4:05pm
Currently i demo trade Mt4 with ActiveTrades and JadeFX my live broker doesnt offer Mt4 anyway, they kinda agreed about the current EUR/AUD price.

In the nanningbob thread (which i dont realy follow) i remebered a discussion about TMA repainting , well if so i couldnt see this till now (made a screenshot at the beginning of the week ) thats maybe something ill look deeper this weekend .

Would be nice if you keep posting screens of your trades , in my opnion this strat is worth a deeper look, so far a nice hit rate and it allows sane risk reward ratio.
  • #126
  • Jan 14, 2011 4:15pm Jan 14, 2011 4:15pm
Quoting ron20
Does this explain this last trade of yours: If price is hovering between the Lower D1 TMA and the Lower H4 TMA, you are primed for a long trade. You aren't necessarily waiting for a breach of the Lower D1 TMA. Your entry is triggered when price goes back up through the Lower H4 TMA. Exit at the Upper H4 TMA.
English isn't my mother tongue, so iam not sure if i understood your description totally correct.

In the last screen i posted , the price had already broken the lowest D1 Band (you can only guess it from the screen not actualy see when this happened)then it already went up to my TP , which is upper H4 or middle D1 (whatever comes first) (also iam just totaly in the beginning of setting TP´´s and Sl´s for this strat)
Then price retraces back to lowest H4 Band and bounced off of it , this what you see on the screen and this is were i would have gone long again with the upper H4 as my potential target .
  • #127
  • Jan 14, 2011 4:28pm Jan 14, 2011 4:28pm
Quoting blutkehlchen
Currently i demo trade Mt4 with ActiveTrades and JadeFX my live broker doesnt offer Mt4 anyway, they kinda agreed about the current EUR/AUD price.

In the nanningbob thread (which i dont realy follow) i remebered a discussion about TMA repainting , well if so i couldnt see this till now (made a screenshot at the beginning of the week ) thats maybe something ill look deeper this weekend .

Would be nice if you keep posting screens of your trades , in my opnion this strat is worth a deeper look, so far a nice hit rate and it allows sane risk reward...

I'll keep posting the screenshots as the setups occur. Please feel free to shout out when I get it wrong. I'll look to set up a demo account with ActiveTrades (can't promise though as I prefer testing using a live account- helps to deal with my nerves etc....).

Regarding the current GBP/USD setup, I reckon it probably isn't the best setup as price could have just slowed down it's momentum as the market pauses for the weekend. There might be an upward surge when it resumes again. Didn't stop me from taking it though (I never learn).

For now, cheerio and good weekend to all.

Over and out.
  • #128
  • Jan 14, 2011 4:31pm Jan 14, 2011 4:31pm
Quoting blutkehlchen
English isn't my mother tongue, so iam not sure if i understood your description totally correct.

In the last screen i posted , the price had already broken the lowest D1 Band (you can only guess it from the screen not actualy see when this happened)then it already went up to my TP , which is upper H4 or middle D1 (whatever comes first) (also iam just totaly in the beginning of setting TP´´s and Sl´s for this strat)
Then price retraces back to lowest H4 Band and bounced off of it , this what you see on the screen and this is were i would have...
I scrolled back and noticed the breach of the Lower D1 TMA. Noted with thanks. And your english is perfect...... I say perfect but......
  • #129
  • Jan 14, 2011 4:48pm Jan 14, 2011 4:48pm
Quoting ron20
I'll keep posting the screenshots as the setups occur. Please feel free to shout out when I get it wrong. I'll look to set up a demo account with ActiveTrades (can't promise though as I prefer testing using a live account- helps to deal with my nerves etc....).

Regarding the current GBP/USD setup, I reckon it probably isn't the best setup as price could have just slowed down it's momentum as the market pauses for the weekend. There might be an upward surge when it resumes again. Didn't stop me from taking it though (I never learn).

For...
Hehehe yeah well taking a potential swing trade on friday evening is always risky to say at least And entry wasnt that clear as well ´, i mean it just pierced that line a little . But anyway i took that trade too and so far it worked for me on Forex , cant say that about indices .
And in demo i also take the more risky entries, you get a better feeling for a Strategie when you also see how it can fail

I mean sooner or later it will fail, the 100% the thread starter has so far arent possible in the long run if you ask me . And for not taking a short loss he is paying the price of only beeing able to use very little amounts like nano lots. But ok thats a personal choice and not the topic .

But again, i like the risk/reward ratio of this strat

Good luck and nice weekend for all
  • #130
  • Jan 14, 2011 4:50pm Jan 14, 2011 4:50pm
wait and go long ... but you can take a few pips short too ... in any case it is still early for one thing or another

patience

eur-usd & eur-aud
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  • #131
  • Edited 7:08pm Jan 14, 2011 6:50pm | Edited 7:08pm
I agree with you that EUR/AUD short was a very early entry, but i disagree that its basically taken in the wrong direction in relation to the 1W trend.
The 1W Bands might be indicating an oversold condition , but from my point of view , looking at 1W while taking trades on 1h is a "miss proportion"(dunno the exact english word but i hope you get what i mean) A 1W candle might have so much of "inner" movement by its own that it might be more then enough too hit TP

Oh and thanks for showing all the charts, would be nice if you keep that up, its always a help to see how others trading a strategy
  • #132
  • Jan 14, 2011 7:09pm Jan 14, 2011 7:09pm
hi
I agree with you ... you can enter short but wait until you signal d1 (retracment w1) ... reenters after long
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  • #133
  • Jan 14, 2011 7:24pm Jan 14, 2011 7:24pm
I go to sleep ... I hope you understand what I mean

Greetings
  • #134
  • Jan 14, 2011 8:03pm Jan 14, 2011 8:03pm
Quoting blutkehlchen
But you dont trade against D1 trend right ?

For example when the price already has broken the lowest D1 TMA , you assume that it will reach upper D1 TMA band sooner or later ?
So if you are somewhere in between that both extremes you wait for chances to buy , after price retraces from upper 4H , like trendchannel trading?
You are 100% right and if you feel the need to go against the Daily trend then as soon as you go in to profit you must set to break even.
  • #135
  • Jan 14, 2011 8:14pm Jan 14, 2011 8:14pm
To see if we are all learning here are a few questions.
1. When the H1 TMA leaves the 4H TMA and we are in a long trade how do we stay in the trade and protect our profits?

2. When the price leaves H1 and 4H outer bands and a semaphor has formed where do we place a stop to enter the trade and where do we place our stop loss?
  • #136
  • Jan 14, 2011 11:37pm Jan 14, 2011 11:37pm
Quoting mgs1f
To see if we are all learning here are a few questions.
1. When the H1 TMA leaves the 4H TMA and we are in a long trade how do we stay in the trade and protect our profits?

2. When the price leaves H1 and 4H outer bands and a semaphor has formed where do we place a stop to enter the trade and where do we place our stop loss?

1. Break even at 40-50 pips. Not sure about the answer to the rest of this question.

2. Stop to enter the trade should be at the closest 4H TMA band. Stop loss above the last Sema4.

Answering these because I am still somewhat confused on this due to the variances of how to use this system that have been introduced in this thread.
  • #137
  • Jan 15, 2011 2:10am Jan 15, 2011 2:10am
strictly follow the indications given by mgs .... everything else are subjective interpretations that may pollute the strategy

Just follow so that the post of mgs ... he is the creator of the strategy and the best known

by
  • #138
  • Edited 7:36am Jan 15, 2011 7:15am | Edited 7:36am
@mgs1f

Thanks for your answer

Iam still struggling a bid in making use of the 60TMA i throw them off of my chart , cos i didn't know what to do with them.
Do you maybe wait for two/three of those 60TMA lines breaching through the 1D upper/lower Band, and not the actual price doing that ?
If so , why ? Cos when that happens , usually the price is already long on its way to TP.
Or do you just take the slope/angle of this 60TMA into account ?

@ porfirio

To be honest i´am not always sure if i understand you correct, but you were basically saying that i didn't wait long enough for the retracement to be clearly established, and yes youre right i entered to early . It was basically cos i wanted to be in some trades before weekend to get a better feeling about this strategy, of course i took them on demo.

@prof8t

I didn't want confuse anybody with the screens of my template, and i also don´t like cluttering every thread with dozens of indicators, and EA´s

Iam following the rules of mgsf1 and the backbone are those MTF_TMA´s i just use a slightly different look , a price overlay , and not the semaphore indicator but an OsMA.
It doesn't change the strategy its just that i use that setup with my live trading strategy which has similarities to this one . I thought i can connect them for the benefits of both.
Just a personal approach/favor
  • #139
  • Jan 15, 2011 8:54am Jan 15, 2011 8:54am
Quoting prof8t
1. Break even at 40-50 pips. Not sure about the answer to the rest of this question.

2. Stop to enter the trade should be at the closest 4H TMA band. Stop loss above the last Sema4.

Answering these because I am still somewhat confused on this due to the variances of how to use this system that have been introduced in this thread.
You are correct on both answers, as to the variances introduced they will still make money because of the strength of the system.
  • #140
  • Jan 15, 2011 11:10am Jan 15, 2011 11:10am
Quoting prof8t
1. Break even at 40-50 pips. Not sure about the answer to the rest of this question.

2. Stop to enter the trade should be at the closest 4H TMA band. Stop loss above the last Sema4.

Answering these because I am still somewhat confused on this due to the variances of how to use this system that have been introduced in this thread.
2 strategies (not using the H1 TMA)

1st strategy

Entries, stops and TP, breakeven exactly like prof8t.

2nd strategy

My primer is the sema4 that's telling me price is now reversing. So until I get the next sema4, price is going up - hence looking for long signals only. On the chart below, I'm only looking for longs between the aqua vertical lines. I then wait for price to approach the oversold area of the stochs. Using VSA (Forgive me for bringing this up as it's not part of this method, it just helps my confidence), coupled with the 'silver dot' I enter long.

I only start considering short positions once I have the next sema4 - between the magenta lines. With this strategy, I'm not looking at the H1 TMA and entries are all market orders.

Hope it makes sense.



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