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Extreme TMA System

  • #2,981
  • Mar 2, 2012 11:18pm Mar 2, 2012 11:18pm
I think with the current established rules we should set a point in time where we consider this a "stable" version and actually put in some time testing it. The thread only started not long ago and there were a lot of changes to it, which is good in the early stage. But we need to work together and actually put some screen time in getting the data needed to fine tune, such as the Tmaslope value range. Instead of throwing in too much at once we need to take baby steps to refine it.

Al already proves that the theory and method is sound and it CAN make pips with his years of experience. Don't fix what isn't broken, we should focus on translating the way he thinks into a system that others can use as the frame work that they can adept into their own.

I have a feeling this isn't going to be a mechanical system, but one that actually requires the trader to learn to trade with the system acting as a guide and signal.
  • #2,982
  • Mar 3, 2012 12:28am Mar 3, 2012 12:28am
Hi Carl,

Thank you very much for giving us the dash board indicator. I have a request: Is it possible to make the indicator 'ON TOP ALWAYS' to any chart pair we are viewing?

Thank you again.

Roy
  • #2,983
  • Mar 3, 2012 12:57am Mar 3, 2012 12:57am
Quoting EaglePip
This may help others with this problem.
It appears that MT4 LiveUpdate is being thwarted by Win 7.
See here:http://www.forexfactory.com/showthre...79#post4712279
Unfortunately, cannot login now, so anyone attempting this make sure to save login details before trying to update.
Look forward to get your Dashboard running.
Thanks,
EP
Hi Eagle,

An easy workaround is to just copy the entire MT4 folder onto your Desktop , then just run MT4 from that folder instead. Windows 7 and Vista has issues with MT4 (cos of the User Account Control thingy) for programs installed in the Program Files folder. I sometimes backup my entire MT4 folder onto a usb stick. I can simply plug it on another comp / laptop and run MT4 , and everything (indis / templates / profiles ) still works fine. In fact , i'm running MT4 from my desktop now cos a few weeks ago, somehow my original MT4 just fails to connect to its server and there wasn't the usual update prompt window. So i just shifted everything to the Desktop and it works again and there's no irritating update prompt window after the move.
You gotta know when to hold 'em, know when to fold 'em ...
  • #2,984
  • Mar 3, 2012 1:33am Mar 3, 2012 1:33am
Quoting nitrate73
Hi Eagle,

An easy workaround is to just copy the entire MT4 folder onto your Desktop , .......
Thanks, nitrate. Did just that, as described by Nubcake in prev posted link.
Important to have login and pw handy. After much hunting around, managed to locate where mine had been saved.
M4 Live Update installed but found that templates and profiles had vanished. After more searching located them in the Virtual Store folder that Nubcake listed.
Now have the Crodzilla Dashboard!
EP
  • #2,985
  • Mar 3, 2012 1:40am Mar 3, 2012 1:40am
Quoting EaglePip
Thanks, nitrate. Did just that, as described by Nubcake in prev posted link.
Important to have login and pw handy. After much hunting around, managed to locate where mine had been saved.
M4 Live Update installed but found that templates and profiles had vanished. After more searching located them in the Virtual Store folder that Nubcake listed.
Now have the Crodzilla Dashboard!
EP
Cool mate , glad everything's sorted out ..
You gotta know when to hold 'em, know when to fold 'em ...
  • #2,986
  • Mar 3, 2012 1:46am Mar 3, 2012 1:46am
Quoting shahrooz67
Al


Simulation
This was exactly where he could have entered .where is your Support/resistance test man ?!

AL do you think he has entered correctly?!

This entry does not comply with Rule 4 that states: "...we will only take a short trade if price is above the upper TMA band AND testing a resistance level located also above the upper band".

1- Price is considerably below the upper band.

2- R2 Resistance is very far away from price at the moment of entry and Price is not testing R2.

3- R1 is just below the entry price, which makes the prospect of a profitable trade highly unlikely.

I would not have entered this trade. This trade spelled trouble from the start. I think Shah would not have entered it either.
Observation is the path to discovery.
  • #2,987
  • Mar 3, 2012 1:50am Mar 3, 2012 1:50am
Thanks to: NanningBob, RealJumper, Zznbrm, X-Man, Favorite, EasyRyder, shahrooz67, Crodzilla, and especially Al.

You guys are making great progress in developing a very profitable system. Some people appear to be doing very well with it.

I'm looking forward to trading it, and hopefully I can assist a little as my understanding of it increases.

I have been looking for something similar to this for awhile, as I have been working with a system of trading from one side of a channel to the other. The problem I seem to run into frequently is not being able to tell when the channel direction is changing. I'm hoping the indicators you are using will make it easier to follow the flow of the market direction.

Dave
  • #2,988
  • Mar 3, 2012 1:57am Mar 3, 2012 1:57am
If anyone is interested in keeping up with the US Dollar index, he or she can find a good chart at FXStreet:

http://www.fxstreet.com/rates-charts/usdollar-index/
  • #2,989
  • Mar 3, 2012 2:10am Mar 3, 2012 2:10am
Quoting Alorente
This entry does not comply with Rule 4 that states: "...w[/b][b]e will only take a short trade if price is above the upper TMA band AND testing a resistance level located also above the upper band".

1- Price is considerably below the upper band.

2- R2 Resistance is very far away from price at the moment of entry and Price is not testing R2.

3- R1 is just below the entry price, which makes the prospect of a profitable trade highly unlikely.

I would not have entered this trade. This trade spelled trouble from...

Number 2 and 3 were exactly the ones I mentioned before !

Thanks AL for the answer
  • #2,990
  • Mar 3, 2012 2:12am Mar 3, 2012 2:12am
200 pages, Alfredo. You are just getting up and it is time for me to hit the hay. Congratulations!
may you find what you seek and trade what you find
  • #2,991
  • Mar 3, 2012 2:23am Mar 3, 2012 2:23am
Quoting Alorente
This entry does not comply with Rule 4 that states: "...w[/b][b]e will only take a short trade if price is above the upper TMA band AND testing a resistance level located also above the upper band".

1- Price is considerably below the upper band.

2- R2 Resistance is very far away from price at the moment of entry and Price is not testing R2.

3- R1 is just below the entry price, which makes the prospect of a profitable trade highly unlikely.

I would not have entered this trade. This trade spelled trouble from the start. I think...
Al, the R2 was tested by the 2 blue HA candles which did not touch the R2 but the distance to R2 was only 3 Pips.

And the H4 s/r level was tested and price bounced from it.
It is the blue line on the chart and I posted the indicator which is drawing
H4, daily, weekly and monthly s/r levels on the chart.

So "testing" a level in your opinion translates to "touching it" ?
I am asking because Sam Seiden and many others teach (and of course they are correct) that there is no such thing as a precise support/resistance level to the fraction of a Pip.
It is rather a zone and price often breaks such a line for up to 8 or 10 Pips
and then goes back and bounces.

Quote
Price is considerably below the upper band.
It was 3 Pips below when I entered but it had broken the band upwards before.
So 3 Pips is "considerably " too much ?
  • #2,992
  • Mar 3, 2012 2:27am Mar 3, 2012 2:27am
Quoting eremix
Ok tma vs tma true is a big debate.As far as i am concerned though tma=tma true at the current bar.So i dont think it will make any difference whether we use tma or tma true,it's the exact same thing when we talk about live trading.So the only reason that you want to use tma instead of tma true is because of the tma slope right?It will show different values?
As for the MPTM EA i think that maybe (if steve hopwood is kind enough),could be tweaked a bit in order to be used as an entry EA as well.But lets first make clear what indis we will use for...
Ma5x5 is only used in association with the EAīs I supplied. If you donīt use the EAīs (I donīt), you donīt need the MA 5x5 and you can remove it from your charts. The trigger is the test of the resistance/support level above the bands. Preferably the second bar that tests the S/R level.

The main reason why I need TMA for the system is not the slope indi, but the location of the upper and lower bands. Yes, they are repainted bands, but they work beautifully for entry and exit. You canīt argue with success... If it ainīt broke, donīt fix it...TMATrue and its bands are all over the place and do not work as well.

Yes, you are correct. The current candleīs value is the same for both TMA indis, and that is the only really important candle. Past candles are only important for backtesting purposes, so I donīt care that they are repaints.
Observation is the path to discovery.
  • #2,993
  • Mar 3, 2012 2:28am Mar 3, 2012 2:28am
Hey Al, are there any materials that you would recommend for traders who are learning the TMA Extreme that could be useful in making better decisions or just understand the market better.
  • #2,994
  • Mar 3, 2012 2:30am Mar 3, 2012 2:30am
Quoting nitrate73
Cool mate , glad everything's sorted out ..
Nitrate, I am not understanding well what noob is explaining in his post. Can you please give me a step by step explanation of how to change this? I want to make sure that I donīt screw up my MT4 installation before I touch it, so I donīt want to use trial and error. I cannot afford to lose any files or templates either. Thanks a million.
Observation is the path to discovery.
  • #2,995
  • Mar 3, 2012 2:38am Mar 3, 2012 2:38am
Quoting faxxion
You know, Alfredo, I don't obsess on losses. That trade is long forgotten. Losses are part of trading. In no way does it reflect poorly on your system.

As I was entering the trade, I heard your voice in the back of my mind "Do not go long the Euro" (correlated). "Do not fight the dollar". I did both. The trade was my fault. As I told you earlier, patience is my problem.

The system is solid. I made two profitable trades afterwards that almost brought me back to even.

No worries, my friend. Have a wonderful weekend.

William
You, too William.
Observation is the path to discovery.
  • #2,996
  • Mar 3, 2012 2:45am Mar 3, 2012 2:45am
Quoting PistolDave
Thanks to: NanningBob, RealJumper, Zznbrm, X-Man, Favorite, EasyRyder, shahrooz67, Crodzilla, and especially Al.

You guys are making great progress in developing a very profitable system. Some people appear to be doing very well with it.

I'm looking forward to trading it, and hopefully I can assist a little as my understanding of it increases.

I have been looking for something similar to this for awhile, as I have been working with a system of trading from one side of a channel to the other. The problem I seem to run into frequently is not...
Thanks, and welcome to our club of friends.
Observation is the path to discovery.
  • #2,997
  • Mar 3, 2012 2:46am Mar 3, 2012 2:46am
Quoting faxxion
200 pages, Alfredo. You are just getting up and it is time for me to hit the hay. Congratulations!
Thanks guy, and it is not my system, it is OUR system.
Observation is the path to discovery.
  • #2,998
  • Mar 3, 2012 2:59am Mar 3, 2012 2:59am
Quoting fxtr51
Al, the R2 was tested by the 2 blue HA candles which did not touch the R2 but the distance to R2 was only 3 Pips.

And the H4 s/r level was tested and price bounced from it.
It is the blue line on the chart and I posted the indicator which is drawing
H4, daily, weekly and monthly s/r levels on the chart.

So "testing" a level in your opinion translates to "touching it" ?
I am asking because Sam Seiden and many others teach (and of course they are correct) that there is no such thing as a precise support/resistance level to the fraction of a...
I agree. S/R levels are bands, not a line. A test should be firm. Sometimes overlapping the line a bit as you mention. On our system, touching the line is crucial because that is the trigger for entry of the order. No touch = no trigger = no trade...

I am not trying to be an ass with this. Iīm just trying to explain to you why I would not have entered this trade, most especially because R1 was right below me, which makes the trade a low percentage one to begin with. I hope you donīt get offended by what I say. Iīm not trying to be right or to have you admit that you are wrong. That gets no one anywhere. It is always a good exercise to review trades gone wrong to understand what could have been done differently.
Observation is the path to discovery.
  • #2,999
  • Mar 3, 2012 2:59am Mar 3, 2012 2:59am
Al, Have you received my message? I want to send the PDF file to you for approval before posting.
Wishing my last name were LESS
  • #3,000
  • Mar 3, 2012 3:01am Mar 3, 2012 3:01am
Hi Al,

Just wanted to say thanks, tested the system steadily during this Thursday and Friday and totalled 46 pips in three pairs, I am new to day trading since I began in November 2011 and I am still learning.

Thank you kindly for your help and keeping this great thread alive! You are a gentleman
Tracking the Specialists.
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