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Extreme TMA System

  • #2,801
  • Mar 2, 2012 10:59am Mar 2, 2012 10:59am
in time, with patience, will get there
  • #2,802
  • Mar 2, 2012 10:59am Mar 2, 2012 10:59am
Quoting Favorite
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...
Thanks for the feedback. What you are saying about the bigger picture is spot on, and if I'm honest, I kind of know that a weakness of mine is to match the trade rules, place the order and THEN check the bigger picture.

My issue with 30+ SL is that to me if for example you take the trade at S1 pivot, a 30 stop loss would possibly be under S2. Because the price DIDN'T bounce at S1, it kind of tells me the thinking of the trade was not valid. Now S1 will be acting as resistance making the chances of the price making it back to the TP target unlikely. It makes sense to me to cut the trade when it goes 10 against and then re-enter at S2 if you get me....
  • #2,803
  • Mar 2, 2012 11:00am Mar 2, 2012 11:00am
Quoting Favorite
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...
I have followed your analyzes from the Shahrooz´s System ($hah 210 (Finally touch points). I have learned a lot from your advice and analysis. I hope one day to repay everyone for all the knowledge I have received at Forex Factory.
Thank you, Favorite, Shah, Alfredo and Everybody here.
If I Change, the whole World changes!
  • #2,804
  • Mar 2, 2012 11:03am Mar 2, 2012 11:03am
Favorite, Saw you on the thread, just want to say hello. flaw
Wishing my last name were LESS
  • #2,805
  • Mar 2, 2012 11:04am Mar 2, 2012 11:04am
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.

OK.

Currency number one: price is 35 pips from the lower band.
Currency number two: price is 55 pips from the lower band.
Which trade has better potential?

Currency number three: M15 is in the uptrend, H1 is in the downtrend.
Currency number four: M15 is in the downtrend, H1 is in the downtrend.
Which one would you choose?

Is it really subjective?


Quoting odellcash
Maybe not too difficult to pick up which are the best, but certainly this takes understanding and decision making.
Do you really think that you can do anything in this life without understanding and decision making?
Gentlemen always play by the rules. If they can't, they change the rules.
  • #2,806
  • Mar 2, 2012 11:12am Mar 2, 2012 11:12am
Quoting los_pipos
It makes sense to me to cut the trade when it goes 10 against and then re-enter at S2 if you get me....
I think right now, as a newbie, it is a right thing to do!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #2,807
  • Mar 2, 2012 11:14am Mar 2, 2012 11:14am
Quoting flaw
Favorite, Saw you on the thread, just want to say hello. flaw
Hi flaw, very glad to see you!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #2,808
  • Mar 2, 2012 11:15am Mar 2, 2012 11:15am
Extreme TMA it's only a SYSTEM.
Please read the title again, that's why Al named the thread "Extreme TMA System".

A trading system it's like the "autopilot" mode in an aircraft.
It'll be a very helpful tool during the course of the flight,
but You still have to be able to take care of the "taking-off" and "landing" manually.

Unless you work for the Government and have an immense amount of financial resources at your disposal to be able to develop a system where You may flight on a 100% remote-control-airplane (HFT systems used by HF).

Or maybe you can control the weather (markets).

Otherwise, please try to get some market experience. A pilot needs more than 10k hours to become a pro, and to be able to use any SYSTEM for his advantage.
  • #2,809
  • Mar 2, 2012 11:16am Mar 2, 2012 11:16am
Quoting Forex Girl
I have followed your analyzes from the Shahrooz´s System ($hah 210 (Finally touch points). I have learned a lot from your advice and analysis. I hope one day to repay everyone for all the knowledge I have received at Forex Factory.
Thank you, Favorite, Shah, Alfredo and Everybody here.
Thank you, Forex Girl, it is very nice of you!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #2,810
  • Mar 2, 2012 11:19am Mar 2, 2012 11:19am
Quoting los_pipos
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...
Here is the screen shot, first one was more by the book.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.jpg Size: 102 KB
  • #2,811
  • Mar 2, 2012 11:20am Mar 2, 2012 11:20am
Quoting Bruma
Otherwise, please try to get some market experience. A pilot needs more than 10k hours to become a pro, and to be able to use any SYSTEM for his advantage.
Well said!

But Al is a very jenerous man, he shares with us his knowledge, his wisdom, his experience, so I'm sure: thanks to Al we'll need less than 10K hours! Hopefully much less!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #2,812
  • Mar 2, 2012 11:23am Mar 2, 2012 11:23am
Quoting SnailRoll
Here is the screen shot, first one was more by the book.
Thanks mate, looks like my pivots are out!
  • #2,813
  • Mar 2, 2012 11:24am Mar 2, 2012 11:24am
Quoting Bruma
Extreme TMA it's only a SYSTEM.
Please read the title again, that's why Al named the thread "Extreme TMA System".

A trading system it's like the "autopilot" mode in an aircraft.
It'll be a very helpful tool during the course of the flight,
but You still have to be able to take care of the "taking-off" and "landing" manually.

Unless you work for the Government and have an immense amount of financial resources at your disposal to be able to develop a system where You may flight on a 100% remote-control-airplane (HFT systems used...
Actually auto take off and landing is easily done nowadays, the technology is nothing new, it was already possible back in late 40's. And a flight can be done fully hands off form take off to landing once you program the auto pilot.
  • #2,814
  • Mar 2, 2012 11:25am Mar 2, 2012 11:25am
Quoting los_pipos
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...

Maybe it would help you if you search this Forex Factory for the forex simulator software and practice the system without risk or stress, taking only the trades that are well outside the bands and entering trades near the upper or lower band so as not to be close to the centerline. Once you can make money in the simulator you will surely do better live.
  • #2,815
  • Mar 2, 2012 11:25am Mar 2, 2012 11:25am
Quoting Favorite
Well said!

But Al is a very jenerous, he shares with us his knowledge, his wisdom, his experience, so I'm sure: thanks to Al we'll need less than 10K hours! Hopefully much less!
Indeed. In fact, the more i look at this, the more i find the indicators detract from what many of us (newbies) should really be focusing on. Next week, i'll strip the indies away and just observe the trend and price action around the pivots.
  • #2,816
  • Mar 2, 2012 11:27am Mar 2, 2012 11:27am
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!
Selecting the best ones is the subjective part I believe. How do you select the best ones?

Also, I am not trying to sound like I am against this system or this thread. In fact, I think the work you and Al are doing here is truly amazing, and I am going to continue following this thread because I am learning so much from all of you. All I am saying is, with someone like me who has very little knowledge about the foxex market, I am going to follow the rules on page one to the letter, looking at this system objectively only. I have no gut feeling that filters the signals any system gives me. I hope someday I have the gut to filter out bad trades, but until then I will need to follow a system where no gut is required.
  • #2,817
  • Mar 2, 2012 11:32am Mar 2, 2012 11:32am
Quoting faxxion
Hola Alfredo,

[color=black][font=Verdana]I hope you enjoy your golf tournament this afternoon. When you return, I have a question regarding the pivots indicator. I downloaded the new zip file this morning. My understanding of the settings for the indicators input tabs are "HrsChoiceTzFromGMT" should be set at "0" for true GMT time and "HrsServerTzFromGMT" should be set to your individual broker GMT offset. Is this correct? If so, when I change the "HrsServerTzFromGMT" from 2 (default) to 1 (+1 my...
I´m not sure I can help you, William. I have never heard of that happening before. I would leave it at 2 until you find an answer. That really won´t change the line levels much at all.
Observation is the path to discovery.
  • #2,818
  • Mar 2, 2012 11:33am Mar 2, 2012 11:33am
Quote
Do you really think that you can do anything in this life without understanding and decision making?
no no, of course not. I'm just pointing out that there are definitely many things to consider. I find that sometimes when a pair is further away, it means it may well keep going, and discerning that has been the hardest part for me. I end up trading against the trend, even though all indicators show a valid signal, and it never goes back in my direction.

There have been many tips, like exiting when price stalls, or letting the PA test resistance twice, etc.. that are not part of the entry and exit rules, that us newbies are still trying to learn and grasp. Looking back at trade, it's usually quite apparent, but I know I'm still learning and am far from having 8, 10 or 13 winning trades in a row.

One of the hardest things for me to know, are when NOT to go against a trend, even though signals are there. Examples of this would be trading pairs against the dollar today. When will the price bounce and when will it keep going.

Don't get me wrong. Everyday I read and trade, I learn more, and I am thankful for this thread and the advice from the more experienced traders here.
  • #2,819
  • Mar 2, 2012 11:34am Mar 2, 2012 11:34am
Quoting SnailRoll
Actually auto take off and landing is easily done nowadays, the technology is nothing new, it was already possible back in late 40's. And a flight can be done fully hands off form take off to landing once you program the auto pilot.
Yes, You're absolutely right...but where's the FUN part in that?

Reading this post just made me recall of the movie "Demolition Man",
where S.Bullock showed S. Stallone how we might have intercourse in the future, by placing an electronic device in your head...

Sure, I'll what that too in the future.

--------------
By the way GBPJPY moved to BE, since it's already above lower band.
  • #2,820
  • Mar 2, 2012 11:35am Mar 2, 2012 11:35am
Quoting eremix
Steve Hopwood has also made this EA wich is great and i think would be a very good adittion to this system : http://www.forexfactory.com/showthread.php?t=274840 .It was spesifically designed for nanningbob's 1.0 system so i think it will be of great use to this system as well(it takes profit according to tma bands and can put a stop loss according to the last swing etc).I am using it atm.It's only flaw is that once it closes a position,it automatically opens a new one which u have to close manually.It also manages your entries like the...
I think we are both talking of the MPTM system. Your description sounds like it is MPTM.
Observation is the path to discovery.
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