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Extreme TMA System

  • #1,761
  • Feb 29, 2012 6:22am Feb 29, 2012 6:22am
Quoting FXnitroC
Oh no Alorente ,
It is a pleasure to read every word you are saying and we all love you .
Absolutely.
And we appreciate all your efforts
.... laughing all the way to the bank
  • #1,762
  • Feb 29, 2012 6:24am Feb 29, 2012 6:24am
tempted to go in eu/gbp and eu/usd, wat do u think Al?
  • #1,763
  • Feb 29, 2012 6:30am Feb 29, 2012 6:30am
Gbp USD

This can turn out to be a great trade. The upward slope of the TMA is slowing fast and Price is at the top band. This is a trade where if you are a bit aggresive like me, you could skip rule 4 and sell short when it touched the R2 resistance level above the band. I did. I shorted at 1.5954. Even though Rule 4 is not there, I feel I need to open your eyes to these special opportunities. It is very important that you force yourself to look for those support and resistance levels. After a while, they will just pop out at you.
Observation is the path to discovery.
  • #1,764
  • Feb 29, 2012 6:32am Feb 29, 2012 6:32am
So far I have taken just a few trades (20 trades) with this system to test this strategy and to get the hang of buying and selling extremes. Most were in the 15M timeframe, one or 2 in the 5M and 2 or 3 in the 30M. Trading EU AJ AU GU EA AN, and I did not pay attention to the slope indicator except for one AU trade. So far I have 18 winners, 2 losers for 90% win loss ratio, and 182 pips in profit in 7 days taking only a small portion of the trades available. 9 consecutive winners twice, 2 consecutive losers. I had one recovery play on the GU which I let run against me considerably, but I closed with a small profit using recovery.
  • #1,765
  • Feb 29, 2012 6:33am Feb 29, 2012 6:33am
Quoting Alorente
Gbp USD

This can turn out to be a great trade. The upward slope of the TMA is slowing fast and Price is at the top band. This is a trade where if you are a bit aggresive like me, you could skip rule 4 and sell short when it touched the R2 resistance level above the band. I did. I shorted at 1.5954. Even though Rule 4 is not there, I feel I need to open your eyes to these special opportunities. It is very important that you force yourself to look for those support and resistance levels. After a while, they will just pop out at you.
Also, notice that it was the second time it tested R2. So,

1- Price overstretched above the band.

2- Price is testing the Resistance level for a second time.

Almost a sure winner.
Observation is the path to discovery.
  • #1,766
  • Feb 29, 2012 6:36am Feb 29, 2012 6:36am
Quoting Alorente
Also, notice that it was the second time it tested R2. So,

1- Price overstretched above the band.

2- Price is testing the Resistance level for a second time.

Almost a sure winner.
whats ur tp?
  • #1,767
  • Feb 29, 2012 6:40am Feb 29, 2012 6:40am
Quoting Alorente
Also, notice that it was the second time it tested R2. So,

1- Price overstretched above the band.

2- Price is testing the Resistance level for a second time.

Almost a sure winner.
I saw that double top, Al, so I have a sell stop at 1.5932. That's more or less where the rules will kick in.
  • #1,768
  • Feb 29, 2012 6:40am Feb 29, 2012 6:40am
Quoting rivtrader
So far I have taken just a few trades (20 trades) with this system to test this strategy and to get the hang of buying and selling extremes. Most were in the 15M timeframe, one or 2 in the 5M and 2 or 3 in the 30M. Trading EU AJ AU GU EA AN, and I did not pay attention to the slope indicator except for one AU trade. So far I have 18 winners, 2 losers for 90% win loss ratio, and 182 pips in profit in 7 days taking only a small portion of the trades available. 9 consecutive winners twice, 2 consecutive losers. I had one recovery play on the GU which...
Man !! you are an example of hoe to use the System profitably. I am very happy for you. Wait till you start digging in to the incredible Slope indicator. Your winnings will go even higher.
Observation is the path to discovery.
  • #1,769
  • Feb 29, 2012 6:43am Feb 29, 2012 6:43am
Quoting Alorente
Man !! you are an example of hoe to use the System profitably. I am very happy for you. Wait till you start digging in to the incredible Slope indicator. Your winnings will go even higher.
Yes, I like those divergences very much.
  • #1,770
  • Feb 29, 2012 6:47am Feb 29, 2012 6:47am
Quoting rivtrader
So far I have taken just a few trades (20 trades) with this system to test this strategy and to get the hang of buying and selling extremes. Most were in the 15M timeframe, one or 2 in the 5M and 2 or 3 in the 30M. Trading EU AJ AU GU EA AN, and I did not pay attention to the slope indicator except for one AU trade. So far I have 18 winners, 2 losers for 90% win loss ratio, and 182 pips in profit in 7 days taking only a small portion of the trades available. 9 consecutive winners twice, 2 consecutive losers. I had one recovery play on the GU which...
Very good results especially with not taking into account the slope indicator.
  • #1,771
  • Feb 29, 2012 6:50am Feb 29, 2012 6:50am
Quoting normtold
Very good results especially with not taking into account the slope indicator.
  • #1,772
  • Feb 29, 2012 6:56am Feb 29, 2012 6:56am
Quoting Alorente
So that you know where I talk to you from for all those hours, here is where I spend most of my waking time. A good 14 hours a day spent in this office looking at these charts.
Wow.......!!!!!!!!!!!!! This is my dream..... I envy you......

Ciao
Sabrina
  • #1,773
  • Feb 29, 2012 6:57am Feb 29, 2012 6:57am
Quoting rivtrader
I saw that double top, Al, so I have a sell stop at 1.5932. That's more or less where the rules will kick in.
I opened a sell at 1.59315 2 hours ago, so I was very premature, I must nail my entrances better. Must not be so trigger happy.

As you mentioned recovery Riv can I ask you and Al a question about it.

If say we open 1 lot and it goes 100 pips the wrong way, do you then open 1 more lot, another 100 pips 2 lots another 100 pips 4 lots but close initial position out?

I read the PDF from Nanningbob and Steve hopwood and one suggestred
1,1,2,4 repeat 1,1,2,4 closing out the oldest positions only having 3 open at a time, is that how you would do it if things went that far?
  • #1,774
  • Feb 29, 2012 6:58am Feb 29, 2012 6:58am
I don't know if any of you trade this pair, but NZD/USD is getting close
to giving a trade signal.
  • #1,775
  • Feb 29, 2012 6:58am Feb 29, 2012 6:58am
Quoting grechmar
whats ur tp?
Always the opposite band unless it stalls on center line which in this case coincides with R1.
Observation is the path to discovery.
  • #1,776
  • Feb 29, 2012 6:59am Feb 29, 2012 6:59am
AL !
Are EUR USD,EUR AUD, EUR GBP Good for long ?
Did you took them ?
  • #1,777
  • Feb 29, 2012 7:00am Feb 29, 2012 7:00am
Just shorted nzd/usd
  • #1,778
  • Feb 29, 2012 7:01am Feb 29, 2012 7:01am
Long Usd Cad. Same case as before. Rule 4 not there just yet but MA about to cross (by looking at the MA Cross lines I can tell), and price extremely oversold and resting on S4.
Observation is the path to discovery.
  • #1,779
  • Feb 29, 2012 7:02am Feb 29, 2012 7:02am
Quoting Alorente
Long Usd Cad. Same case as before. Rule 4 not there just yet but MA about to cross (by looking at the MA Cross lines I can tell), and price extremely oversold and resting on S4.
In this last trade, again, Price tested S4 with two successive bars.
Observation is the path to discovery.
  • #1,780
  • Feb 29, 2012 7:09am Feb 29, 2012 7:09am
Quoting normtold
I opened a sell at 1.59315 2 hours ago, so I was very premature, I must nail my entrances better. Must not be so trigger happy.

As you mentioned recovery Riv can I ask you and Al a question about it.

If say we open 1 lot and it goes 100 pips the wrong way, do you then open 1 more lot, another 100 pips 2 lots another 100 pips 4 lots but close initial position out?

I read the PDF from Nanningbob and Steve hopwood and one suggestred
1,1,2,4 repeat 1,1,2,4 closing out the oldest positions only having 3 open at a time, is that how you would...
I'm not really sure, since I have not gone that far. In my case, and speaking only for myself, I would analyze each trade individually and make my calls according to what I see on the charts and how much margin I have to play with. But anyway, that is why we are supposed to allocate effectively the lot size to each trade so that when it goes against you, you don't get stressed out. Or, use stops at the last high or low and trade with less worry, you would still be profitable that way. Just my view.
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