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Extreme TMA System

  • #2,781
  • Mar 2, 2012 9:23am Mar 2, 2012 9:23am
Quoting zznbrm
There are profitable, purely mechanical systems out there, but your system here is not one of them because it relies on "other factors". There really should be an Entry Rule #5 that says something like:
It's all about patience...

Second entry, and 3rd opportunity I've detected so far today.

LONG - NZDUSD at S2 with TMASlope in "Ranging" mode and diverging.

Good for Center-Band since trend still down, about 20 pips.
  • #2,782
  • Mar 2, 2012 9:29am Mar 2, 2012 9:29am
Quoting zznbrm
There are profitable, purely mechanical systems out there, but your system here is not one of them because it relies on "other factors". There really should be an Entry Rule #5 that says something like:

Trader discretion trumps rules 1-4. Even if rules 1-4 are met, the trader must take into account other relevant aspects of the market before pulling the trigger or exiting a position. From what I have read of this thread, Alorente has hinted at this many times.

Unfortunately there are an almost unlimited number of these market factors, some...
zznbrm,

Thanks for the insight.

William
may you find what you seek and trade what you find
  • #2,783
  • Mar 2, 2012 9:30am Mar 2, 2012 9:30am
Hello Alfredo, I am a beginner in forex since August 2011. I want to trade the 1 minute chart, I have seen that your TMA Slope Ed is very effective. I am asking you a favor, if you can organise my chart, it will be my great pleasure to share my indicators and templates with you. I have 3 charts, therefore 3 templates, 1 minute, 5 minutes and 30 minutes chart respectively. I have modified the indicators to have good entries, but still I cannot make profit with live charts. Please help me sir, please please please, because I do not know how to invent the entry and exit rules, am a beginner, please help me, I really need a big help. My live account is only $11 and I will need to grow it little by little with 0.01 volume. I am left with it, as am an unemployed person, I will not have more money to invest, I invested $30, got bonus of 50%, which my equity is $45, and now my account is $11. I need a help Sir, please help me. My email address is [email protected]. Hope to hear from you soon. Thank you very much for your time and support and help Sir.
  • #2,784
  • Mar 2, 2012 9:35am Mar 2, 2012 9:35am
Hi,
I am keen to try the trading system, and I have unzipped the attchment on the first post, but there is no installation file. I guess this is this supposed to work with an existing system, but there is no mention of this. Would someone be kind enough to explain how I get the system running?

Thanks
  • #2,785
  • Mar 2, 2012 9:39am Mar 2, 2012 9:39am
Quoting bstay2
I think just do what Alorente does, using the rules and tips he shown. He demonstrated how he can win 33 trades in a row the past few days in front of all of us. It is proven.


I second You. Simple, accurate and proven system.
  • #2,786
  • Mar 2, 2012 9:51am Mar 2, 2012 9:51am
Quoting bstay2
I think just do what Alorente does, using the rules and tips he shown. He demonstrated how he can win 33 trades in a row the past few days in front of all of us. It is proven.
No one is doubting this is a great system but if you want to be as profitable as Al you've gotta know why he takes certain trades and not others. This system is not 100% mechanical otherwise Al wouldn't take every single setup. For instance he won't long the EUR atm.

I recommend not giving up on the system if it isn't working for you. The insights about forex trading we are learning from Al are great. If we can work out a way to make this system 100% mechanical where there is no doubt in our minds when we take a trade according to the rules WITHOUT considering any outside influences (economic factors, news etc) then that would be the perfect scenario.

However, I don't think any 100% mechanical rule-based system exists like this otherwise it would be the holy grail which could make a good 'rule follower' rich. There will always be other reasons to take a trade. Once you learn what these reasons are it's about spotting THE BEST SETUPS and taking ONLY them. You don't have to be in the market 24/7.

If there is a holy grail 100% mechanical rule-based system that doesn't take into consideration ANY outside influences and is consistently profitable feel free to let me know!

Al, keep it up. I think we can get to a stage with this system where everyone is on the same page and at least 60% as profitable as you which would still be damn amazing.
  • #2,787
  • Mar 2, 2012 10:00am Mar 2, 2012 10:00am
Hi,
I am keen to try the trading system, and I have unzipped the attchment on the first post, but there is no installation file. I guess this is this supposed to work with an existing system, but there is no mention of this. Would someone be kind enough to explain how I get the system running?

Thanks

Jackford,

First you need to google free MT4 (metatrader 4) demo platform. Download the mt4. After you have downloaded the mt4, myself or someone can guide you through the indicator setup.
  • #2,788
  • Mar 2, 2012 10:01am Mar 2, 2012 10:01am
I'm struggling mostly with exits. Al says to target middle TMA band for conservative trade or other TMA band for aggressive trade. I have been playing it safe setting my target for middle band but a lot of my trades have just fallen short and then turned.

Al seems to sense when to get out of trades early and when to let them flow which is obviously something us novice traders need to learn with practice.

Over 30pip stop losses is also a big worry for a novice trader like myself, recovery trades are a ticket to the poor house if you don't know what you're doing or have the confidence/capital to do them, which I think is why my hit rate is so low compared to the more experienced traders.

Hope this doesn't sound negative, this is one of the most exciting threads I've read and I'm learning a huge amount from it, and no doubt will be earning good pips with it and a bit more experience.
  • #2,789
  • Mar 2, 2012 10:02am Mar 2, 2012 10:02am
Quoting Bruma
It's all about patience...
Second entry, and 3rd opportunity I've detected so far today.
LONG - NZDUSD at S2 with TMASlope in "Ranging" mode and diverging.
Good for Center-Band since trend still down, about 20 pips.
Closed NZDUSD: +17 pips.
  • #2,790
  • Mar 2, 2012 10:22am Mar 2, 2012 10:22am
Quoting los_pipos
I'm struggling mostly with exits. Al says to target middle TMA band for conservative trade or other TMA band for aggressive trade. I have been playing it safe setting my target for middle band but a lot of my trades have just fallen short and then turned.

Al seems to sense when to get out of trades early and when to let them flow which is obviously something us novice traders need to learn with practice.

Over 30pip stop losses is also a big worry for a novice trader like myself, recovery trades are a ticket to the poor house if you don't...
I have noticed this a little as well, there are times when price would only go 3/4 of the way to middle instead of touching it. This is why Al suggest that sometimes when price seems to stall its a good time to just get out for a win. How well you can exit comes with experience and I guess as you are learning you are better off with consistent small wins. You need to monitor your trade in this case, can't just set SL, TP, and let them do their thing.

Also there are always some opportunity to trade, look at USDJPY for example, early today it has a text book entrance, price above band, tested resistance, and another one later although price did not go above band R3 was still holding strong.
  • #2,791
  • Mar 2, 2012 10:31am Mar 2, 2012 10:31am
Quoting RyadPro
Hello Alfredo, I am a beginner in forex since August 2011. I want to trade the 1 minute chart, I have seen that your TMA Slope Ed is very effective. I am asking you a favor, if you can organise my chart, it will be my great pleasure to share my indicators and templates with you. I have 3 charts, therefore 3 templates, 1 minute, 5 minutes and 30 minutes chart respectively. I have modified the indicators to have good entries, but still I cannot make profit with live charts. Please help me sir, please please please, because I do not know how to invent...
Ryad,
with all respect, you are on your way to losing your last $11 this way.
I would stop immediately trading on the live-account if I were you.

You should never ever go live with a strategy if you haven´t doubled a demo-account with it and even then only if you have all of the things in order like "not risking too much" and all of that.

I hope that your live account is a Cent-account ( where 1 Dollar shows
as 100 in the balance ), but even then you should immediately stop trading your live account.
  • #2,792
  • Mar 2, 2012 10:40am Mar 2, 2012 10:40am
Quoting SnailRoll
Also there are always some opportunity to trade, look at USDJPY for example, early today it has a text book entrance, price above band, tested resistance, and another one later although price did not go above band R3 was still holding strong.
Hi Pal,
Would you mind uploading a screenshot of where you mean in USD/JPY? Just looked back at my charts and price seems to have been easily through resistance pivots without too much of a bounce...
  • #2,793
  • Mar 2, 2012 10:42am Mar 2, 2012 10:42am
Third trade of the day. I missed it earlier.

Dir.: LONG
Pair: GBPJPY
Price: 1.2921
S/R: above FPV - retest
Slope: ranging mode going up

Good for middle-band, but I'll move to BE as soon as it goes above lower-band.
  • #2,794
  • Mar 2, 2012 10:44am Mar 2, 2012 10:44am
Quoting zznbrm
There are profitable, purely mechanical systems out there, but your system here is not one of them because it relies on "other factors". There really should be an Entry Rule #5 that says something like:

Trader discretion trumps rules 1-4. Even if rules 1-4 are met, the trader must take into account other relevant aspects of the market before pulling the trigger or exiting a position. From what I have read of this thread, Alorente has hinted at this many times.

Unfortunately there are an almost unlimited number of these market factors, some...
I think you're right zznbrm. I think Al is an excellent trader who really knows his stuff, so this system works great for him, but for someone like me who is relying entirly on this system to trade may not be profitable or as profitable as someone like Al. Maybe in the future as this system develops it will not be as subjective and it will work for everyone regardless of there knowledge about the market.
  • #2,795
  • Mar 2, 2012 10:46am Mar 2, 2012 10:46am
Quoting los_pipos
I'm struggling mostly with exits. Al says to target middle TMA band for conservative trade or other TMA band for aggressive trade. I have been playing it safe setting my target for middle band but a lot of my trades have just fallen short and then turned.

Al seems to sense when to get out of trades early and when to let them flow which is obviously something us novice traders need to learn with practice.

Over 30pip stop losses is also a big worry for a novice trader like myself, recovery trades are a ticket to the poor house if you don't know...
No, you don't sound negative, you just want to get some answers, which is smart. I can't give you all the answers, and of course Al could help you much more, than anyone in this thread, but right now I would say something like this:

Before going after the middle band, you have to evaluate the situation: how far is the price from the middle band right now? With your conservative approach you have to see at least the distance 20-25 pips between the price and the middle band, otherwise why should you bother? So you have to be very selective, look at many currencies and choose the best setup available. You also have to trade M15 according the H1 trend. Never trade against the H1 trend!

Al explained that if the price got stuck at the middle band for two candles - he would exit, otherwise he would go for the upper/lower band, I think it is very helpful.

As a newbie you'd better NOT try recovery or locking, but you have to understand MM. You say 30+ pips SL is too big for you? Why? You just have to adjust your lot size. If your 30 pips are equal, for example, 1.5% - you can afford to lose it, can't you?

Good Luck!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #2,796
  • Mar 2, 2012 10:48am Mar 2, 2012 10:48am
Hello Guys,

I´m nervous. I´m kidding! But this thread/system is a smash hit! I can not even follow it up. When I finish a page, suddenly appear over five pages .... I think I'm too dull! Maybe a little retarded....hahahah...

Have a nice week end!
If I Change, the whole World changes!
  • #2,797
  • Mar 2, 2012 10:51am Mar 2, 2012 10:51am
Quoting MagicMike
Maybe in the future as this system develops it will not be as subjective and it will work for everyone regardless of there knowledge about the market.
How can you say that the system is subjective? You have four rules and you have the trigger! The only thing you need besides this is the understanding that you don't have to get into ALL the trades, you have to select the BEST ones!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #2,798
  • Mar 2, 2012 10:52am Mar 2, 2012 10:52am
Quoting Favorite
How can you say that the system is subjective? You have four rules and you have the trigger! The only thing you need besides this is the understanding that you don't have to get into ALL the trades, you have to select the best ones!
could not agree more!!!
  • #2,799
  • Mar 2, 2012 10:56am Mar 2, 2012 10:56am
Quoting Favorite
you have to select the BEST ones!
I believe this is the subjective part.

Maybe not too difficult to pick up which are the best, but certainly this takes understanding and decision making.
  • #2,800
  • Mar 2, 2012 10:58am Mar 2, 2012 10:58am
Quoting odellcash
I believe this is the subjective part.

Maybe not too difficult to pick up which are the best, but certainly this takes understanding and decision making.
you're right about that
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