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Extreme TMA System

  • #2,361
  • Mar 1, 2012 6:11am Mar 1, 2012 6:11am
Quoting interbucks
-10 pips now..... any comments on the above plse guys...
Is this UsdCad? weīll be ok. Iīm with you on this.
Observation is the path to discovery.
  • #2,362
  • Mar 1, 2012 6:12am Mar 1, 2012 6:12am
Quoting interbucks
attack on the s1 one more time..... trouble for my long trade?
And I thought I was a worrier

Price below TMA, sloping upwards and hit S1 so I am in too.
  • #2,363
  • Mar 1, 2012 6:12am Mar 1, 2012 6:12am
Quoting interbucks
Thanks brother...may the Slope be with you!!
Funny. Very Funny.
Observation is the path to discovery.
  • #2,364
  • Mar 1, 2012 6:13am Mar 1, 2012 6:13am
For those people considering trading the M1 chart, here are my observations:

1. Try using the directional bias from the H1 chart rather than the M15. It seems to be working better for me. Or maybe combine the two and only take a M1 trade if both H1 and M15 are showing aligning trends? I haven't tried that, but it's worth looking into.

2. I added a semaphore indicator, which I know is notorious for it's repainting, but it does give you an extra visual heads-up that price direction is likely to change. It's often a good sign when it's lighting up a 3rd level signal (white sun on my chart) on both time-frames. It can also be used to warn that it's time to exit a trade.

I'm using the one called #4X 2010 SEMA4X.

3. In addition to the pivots, I suggest adding the open price and yesterday's high and low. EURUSD has just bounced very nicely off yesterday's low to give a very nice 25 pip short trade (see the attachment)...which I missed while having lunch. Damn.

I'm using the THV pivot indicator ('THV4 TzPivotsD (Black)') which includes both these lines. I've attached both indicators in case you don't have them.

Finally, and most importantly, listen to what Alorente says about the M1 chart. It's fairly benign today, but it can be a real account killer. Keep a very close eye on the news and trading blogs for any unexpected announcements if you are scalping the M1. Having said that, the more I trade, the more I seem to enjoy the M1. For those of us with an impatient nature it can be a blessing to take your profit in 7 minutes!

PB
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.png Size: 32 KB
Attached File(s)
File Type: ex4 #4X 2010 SEMA4X.ex4   12 KB | 616 downloads
File Type: ex4 THV4 TzPivotsD (Black).ex4   45 KB | 445 downloads
  • #2,365
  • Mar 1, 2012 6:15am Mar 1, 2012 6:15am
I think my next thing to learn is regarding exits.

I opened a long on EUR/GBP at S2 it bounced a little, 9 pips. I have trouble aiming for the centre line and often just take small profits for fear of price going the other way.

Al what signs do you look for to take profit? Maybe slope changing direction, HA bar changing colour, anything else?
  • #2,366
  • Mar 1, 2012 6:17am Mar 1, 2012 6:17am
Quoting interbucks
attack on the s1 one more time..... trouble for my long trade?
interbucks are you new to trading? i'm just asking it's nothing derogatory :oD

whats your plan if things go wrong? everyone should know what they'll do if? the "if" will always happen and it's how you deal with it that makes a trader.

whats your plan?

cut your losses...add to your position etc etc

i suggest 98400 is something to watch :o)
  • #2,367
  • Mar 1, 2012 6:18am Mar 1, 2012 6:18am
Quoting Alorente
Is this UsdCad? weīll be ok. Iīm with you on this.
Thanks Al, but I only had SL of -20, I'm out....I was so much sure (no hoping, after textbook entry) it will not go further South. Was that a mistake??
  • #2,368
  • Mar 1, 2012 6:18am Mar 1, 2012 6:18am
Where is S2 on USD/CAD? Even zooming right out it is nowhere to be seen.
  • #2,369
  • Mar 1, 2012 6:20am Mar 1, 2012 6:20am
Quoting normtold
Where is S2 on USD/CAD? Even zooming right out it is nowhere to be seen.
I've got it as .98297
  • #2,370
  • Mar 1, 2012 6:23am Mar 1, 2012 6:23am
Quoting icarusfx
interbucks are you new to trading? i'm just asking it's nothing derogatory :oD

whats your plan if things go wrong? everyone should know what they'll do if? the "if" will always happen and it's how you deal with it that makes a trader.

whats your plan?

cut your losses...add to your position etc etc

i suggest 98400 is something to watch :o)
Yes only trading handful of months. At this stage my plan when things go against me, is to stick in a tight stoploss (maybe -20) on these lower TF's like M15, and live to trade another day. Your assistance and comments will be highly appreciated. Thanks a mill.
  • #2,371
  • Mar 1, 2012 6:23am Mar 1, 2012 6:23am
Quoting Jemook
I've got it as .98297
OK I can only see that when using the H4 chart and have it ar .98267
  • #2,372
  • Mar 1, 2012 6:24am Mar 1, 2012 6:24am
Quoting normtold
Where is S2 on USD/CAD? Even zooming right out it is nowhere to be seen.

9827
  • #2,373
  • Mar 1, 2012 6:25am Mar 1, 2012 6:25am
Quoting normtold
I think my next thing to learn is regarding exits.

I opened a long on EUR/GBP at S2 it bounced a little, 9 pips. I have trouble aiming for the centre line and often just take small profits for fear of price going the other way.

Al what signs do you look for to take profit? Maybe slope changing direction, HA bar changing colour, anything else?
Both of the ones you mentioned are great signals that you could follow. As Iīve said before, I feel the turn in price before the indicators tend to show it, but it is nice to see it confirmed by the indis and sometimes I wait for them to do so.

You canīt go wrong, also, by taking profit on reaching resistance if long or support if short.
Observation is the path to discovery.
  • #2,374
  • Mar 1, 2012 6:28am Mar 1, 2012 6:28am
Quoting interbucks
Thanks Al, but I only had SL of -20, I'm out....I was so much sure (no hoping, after textbook entry) it will not go further South. Was that a mistake??
No mistake. It is normal for a market to exceed the logical limits. Many times it is done to collect stops like yours... Donīt forget that brokers can see your stops. They are public knowledge. That is one of the reasons why I donīt use normal tight stops.
Observation is the path to discovery.
  • #2,375
  • Mar 1, 2012 6:33am Mar 1, 2012 6:33am
Quoting Alorente
No mistake. It is normal for a market to exceed the logical limits. Many times it is done to collect stops like yours... Donīt forget that brokers can see your stops. They are public knowledge. That is one of the reasons why I donīt use normal tight stops.
Thank you Al.
  • #2,376
  • Mar 1, 2012 6:34am Mar 1, 2012 6:34am
Quoting Alorente
Both of the ones you mentioned are great signals that you could follow. As Iīve said before, I feel the turn in price before the indicators tend to show it, but it is nice to see it confirmed by the indis and sometimes I wait for them to do so.

You canīt go wrong, also, by taking profit on reaching resistance if long or support if short.
Thank-you.
I took half profit on E/G for 13.5 pips moved other half to BE and will aim for S1 which is just below the centre TMA line.
  • #2,377
  • Mar 1, 2012 6:35am Mar 1, 2012 6:35am
Alorente, have you looked at the % of winning/losing trades relative to slope direction and the downdraw on those trades? seems a logical step.

just a thought :oD
  • #2,378
  • Mar 1, 2012 6:38am Mar 1, 2012 6:38am
Quoting pixelboy
For those people considering trading the M1 chart, here are my observations:

1. Try using the directional bias from the H1 chart rather than the M15. It seems to be working better for me. Or maybe combine the two and only take a M1 trade if both H1 and M15 are showing aligning trends? I haven't tried that, but it's worth looking into.

2. I added a semaphore indicator, which I know is notorious for it's repainting, but it does give you an extra visual heads-up that price direction is likely to change. It's often a good sign when it's lighting up...
PB, you don't have the source for the 4X Semafor do you? Been looking for it without much luck

cheers
  • #2,379
  • Mar 1, 2012 6:39am Mar 1, 2012 6:39am
Today has been slow for me, most targets were at the centerline:

AJ +14 +9 +1 +1

AU +3

GU +11 (-24) -missed the exit at the centerline and it shot up so I exited

GA +9

EC (-18)

AN +4 +1

Total +11 Pips, should have been up 45 Pips with the missed exit on GU.
  • #2,380
  • Mar 1, 2012 6:40am Mar 1, 2012 6:40am
If AUD/JPY reaches 87.68 R2 I will think about going short maybe a pip or 2 below that level.

Shahrooz67 thanks for all your hard work improving the slope indicator, you are a legend.
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