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Extreme TMA System

  • #601
  • Feb 23, 2012 1:33am Feb 23, 2012 1:33am
Quoting pedross
Hi Al, would you consider shorting the EU (after the MA cross of course) with the present angle of the TMA?

Pete

Attachment
Yes. I have my gun cocked and ready for that one, as well as for GbpUsd, AudUsd and UsdCad. To better view the slant of the TMA, maximize the chart. EurUSD is on avery slight uptrend. I consider it almost level at this point. Of course, this can change.
Observation is the path to discovery.
  • #602
  • Feb 23, 2012 1:35am Feb 23, 2012 1:35am
Thanks Al!
  • #603
  • Feb 23, 2012 1:42am Feb 23, 2012 1:42am
Alorente,
Kudos to you and your generosity in sharing this system. Do you still trade immediately before London Opening if a setup comes along?
  • #604
  • Feb 23, 2012 1:48am Feb 23, 2012 1:48am
Quoting Alorente
X-Man, how do you handle your risk/reward (SL, TP, etc)?
My risk/reward for a 15m chart would be 1:2 , but if it dont reach that target i would lock it when it reaches the other side of the band.
I would not risk more than 30 pips on a 15m chart so i would set my SL between 25 to 30 pips a trade.

Yesterday the pairs I traded bounced off the daily pivot so i placed my SL on the other side of the pivot which was around 15 to 30pips SL.

Personally I think a 100 pips SL for a 15M TF is too large. I am not ready to risk that much on 15m but i am ready to risk about 20 to 30pips.

I trade the 1H and the 4H as well using my own system. For the 1H i am only willing to risk 30 to 50 pips and for the 4H i am ready to risk 80 to 100 pips.

I still didnt master this system so i will maybe be wrong about those SL.
As a person masters this system he will more or less know whats the right amount to set as SL. He will know that if it reaches a certain amount it would be time to exit.

Before a person makes profit he must be ready to accept risk. If you not ready to accept risk then do not take the trade. Thats what trading is all about.
So that means if your trade goes against you and hit SL then you must not become all stressed out an emotional.
X-man the legendary conqueror of markets
  • #605
  • Edited 2:11am Feb 23, 2012 1:58am | Edited 2:11am
Hi @ All,

i read the last 2 days about the system and now i start my first trade BUT i try it in renko.

we will see
  • #606
  • Feb 23, 2012 2:02am Feb 23, 2012 2:02am
Quoting domino01
Alorente,
Kudos to you and your generosity in sharing this system. Do you still trade immediately before London Opening if a setup comes along?
I trade 8:00 CET to 22:00 CET if I have the time.
Observation is the path to discovery.
  • #607
  • Feb 23, 2012 2:07am Feb 23, 2012 2:07am
Ok,
First demo trade posted using Al's system...
short from 106.30. SL just above last swing high....

Comments welcome

SR
Attached Image (click to enlarge)
Click to Enlarge Name: ej.gif Size: 27 KB
  • #608
  • Feb 23, 2012 2:07am Feb 23, 2012 2:07am
sorry bro aliitle bit dont understand, i using E/U 15m TF and now the blue line going to cross under the red,so means that will be a down trend coming or any sugestion ? currently i am selling , but negatif now.
  • #609
  • Feb 23, 2012 2:08am Feb 23, 2012 2:08am
Good morning Alorento and thank you for this great system. I am unable to open some of the files namely the pivots,and MQL4 source file, do I need to install software to open these thank you.

Angie
  • #610
  • Feb 23, 2012 2:10am Feb 23, 2012 2:10am
Quoting X-Man
My risk/reward for a 15m chart would be 1:2 , but if it dont reach that target i would lock it when it reaches the other side of the band.
I would not risk more than 30 pips on a 15m chart so i would set my SL between 25 to 30 pips a trade.

Yesterday the pairs I traded bounced off the daily pivot so i placed my SL on the other side of the pivot which was around 15 to 30pips SL.

Personally I think a 100 pips SL for a 15M TF is too large. I am not ready to risk that much on 15m but i am ready to risk about 20 to 30pips.

I trade the 1H and the 4H...
Well thought out. The only problem I see in a small stop loss with this system is that it is based on catching a reversal move which implies the possibility of repeated spikes at the top (or bottom in the case of a short) , before finally turning in your favor. Those spikes can hit your stop loss if it is too small. As you said, once one becomes proficient with the system, he/she will have a good feel to where to set a stop loss correctly.
Observation is the path to discovery.
  • #611
  • Feb 23, 2012 2:13am Feb 23, 2012 2:13am
Quoting Sjr
Ok,
First demo trade posted using Al's system...
short from 106.30. SL just above last swing high....

Comments welcome

SR
Seems like you didn't follow Al's rules, namely price didn't break upper TMA band. Anyway, I wish you good trade.
For my fallen angels.
  • #612
  • Feb 23, 2012 2:13am Feb 23, 2012 2:13am
Quoting Sjr
Ok,
First demo trade posted using Al's system...
short from 106.30. SL just above last swing high....

Comments welcome

SR
That trade was placed too close to the center line, which acts as a support area. The trade has little profit potential. Trades should be placed at or above the upper band for shorts and at or below the lower band for longs.
Observation is the path to discovery.
  • #613
  • Feb 23, 2012 2:16am Feb 23, 2012 2:16am
Fastest 24 pips I ever lost....what 4 minutes ?

LOL

Oh well .... um back to the demo drawing board....

Comments........

SR
Attached Image (click to enlarge)
Click to Enlarge Name: ej.gif Size: 25 KB
  • #614
  • Feb 23, 2012 2:19am Feb 23, 2012 2:19am
Quoting Sjr
Fastest 24 pips I ever lost....what 4 minutes ?

LOL

Oh well .... um back to the demo drawing board....

Comments........

SR
I think the price didn't touch the red band before your entrie
  • #615
  • Feb 23, 2012 2:20am Feb 23, 2012 2:20am
Quoting Sjr
Ok,
First demo trade posted using Al's system...
short from 106.30. SL just above last swing high....

Comments welcome

SR
Also, in that trade, Rule 1 never happened, since price never crossed or touched the upper band. It may become a good option soon for a short, since PA has now crossed above the band. It is important also to watch for S/R levels. In this case, PA is now hitting against R1, which makes this a good bet if the MA Cross flashes Red soon. Then the trade would become a very safe one.
Observation is the path to discovery.
  • #616
  • Feb 23, 2012 2:20am Feb 23, 2012 2:20am
Thanks Al,

I understand what your saying....but given that the TMA was moving sideways, and the PA was almost to the upper line , and the extreme indicator was evident, I thought looking at a short.
Lots more to learn clearly...

SR
  • #617
  • Feb 23, 2012 2:21am Feb 23, 2012 2:21am
Quoting Alorente
Also, in that trade, Rule 1 never happened, since price never crossed or touched the upper band. It may become a good option soon for a short, since PA has now crossed above the band. It is important also to watch for S/R levels. In this case, PA is now hitting against R1, which makes this a good bet if the MA Cross flashes Red soon. Then the trade would become a very safe one.
Fair enough you beat me to it...

Thanks
  • #618
  • Feb 23, 2012 2:24am Feb 23, 2012 2:24am
Quoting Ferod
I think the price didn't touch the red band before your entrie

Yip, your right....
  • #619
  • Feb 23, 2012 2:26am Feb 23, 2012 2:26am
Quoting Sjr
Fair enough you beat me to it...

Thanks
Thatīs the tough part of this game. The small subtleties make all the difference between a winning trade and getting your butt kicked. Thatīs why the rules are what they are.
Observation is the path to discovery.
  • #620
  • Feb 23, 2012 2:28am Feb 23, 2012 2:28am
Quoting Alorente
Also, in that trade, Rule 1 never happened, since price never crossed or touched the upper band. It may become a good option soon for a short, since PA has now crossed above the band. It is important also to watch for S/R levels. In this case, PA is now hitting against R1, which makes this a good bet if the MA Cross flashes Red soon. Then the trade would become a very safe one.
By the way, you mean Rule 2 ...

Quoting Alorente
Yes. I have my gun cocked and ready for that one, as well as for GbpUsd, AudUsd and UsdCad. To better view the slant of the TMA, maximize the chart. EurUSD is on avery slight uptrend. I consider it almost level at this point. Of course, this can change.
... did you shot?
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