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Extreme TMA System

  • #3,161
  • Mar 4, 2012 12:34pm Mar 4, 2012 12:34pm
Also forgot to point out that one of the benefits of the trade simulator was also that it made me realise that with patience, the price DOES hit the opposite band a lot of the time. Previously I was jumping out of trades at the centre line on almost every winning trade.
  • #3,162
  • Mar 4, 2012 12:39pm Mar 4, 2012 12:39pm
Quoting los_pipos
I've been running a MT4 trade simulator over the weekend after one of the contributors on here suggested it. I imagine it is similar to this. Just watching the market speeded up has really helped me to understand how the price moves beyond the TMA and how it acts at pivots.

It has also helped me see why a well sized stop loss is important.

I'd seriously recommend that newbies give it a go as it will really help identify good and bad trades. I started the simulator and I was losing most trades taking speculative ones and employing a tight stop...
Yes, I agree with your results. I really think that this system will not be nearly as profitable with tight stop losses. Why, because we are attempting to catch turns in the market, and not simply following the trend. Turns imply many tests of the previous trend before they actually happen, any one of which can trigger your stop loss.
Observation is the path to discovery.
  • #3,163
  • Mar 4, 2012 12:42pm Mar 4, 2012 12:42pm
Quoting los_pipos
Also forgot to point out that one of the benefits of the trade simulator was also that it made me realise that with patience, the price DOES hit the opposite band a lot of the time. Previously I was jumping out of trades at the centre line on almost every winning trade.
With patience, over 90% of trades hit the opposite band. The decision is, do I want to wait for it to go all the way or, like I do most of the time, do I get out at centerline at the slightest stall, wait for a small bounce and get back in again risking less and making in the end more pips.
Observation is the path to discovery.
  • #3,164
  • Mar 4, 2012 12:53pm Mar 4, 2012 12:53pm
Quoting Alorente
I´m trying a divergence indicator since I am a strong believer in using divergence in my trading. I will let you know my experience with it in a few days.
Thank you Al, waiting for your experience! I linked an example from feb17 eur/usd divergence.
Attached Image (click to enlarge)
Click to Enlarge Name: div.JPG Size: 160 KB
  • #3,165
  • Mar 4, 2012 12:59pm Mar 4, 2012 12:59pm
Hi Everybody.

New in the forum, a friend and for at least 25 years successful trader asked me to join this forum.

Well, I learned a lot in the past 1 1/2 year trading forex. I learned moneymanagement the hard way. I lost my whole account 3 times.

At least, I lost it for using recovery trades. Call it recovery, call it what ever you want, last but not least, we always talk 'bout a martingale system. Whats nothing else as gambling. The past shows exactly, in each and every pair, that you can not win in some situations. Just zoom out of your charts, enable weekly or even monthly chart and you see clear, what I mean. There are ranges, what the biggest margin can not reflect, even if you just use 1% or your account for each trade per 100 pip loss (as I do).

You can not predict anything in the market. You can just know one thing very clear, before you enter any trade. You can do your math and know what amount of money you may lose. That's it. All you can do is to minimize the risk to a minimum but as a trader you have to know very clearly, that there's always the chance to lose this 35, 50 or 100 pip Stoploss and even much more, if you enter trades without any SL.

So as traders for years with some experience, you should make this very clear to each and every newbie in trading - and I bet, here are lots of them on the search for the holy grail - that they HAVE to learn MM and to use SL for each and every trade. And risking 5 or maybe more % of an account has nothing to do with moneymanagement. 5% means, you just need a losing streak of 5 trades and your balance is 25% off. Then you have to decide to decrease lot size or keep going with the original lot size and the risk/trade is even higher or you need the more pips to hunt you losses.

So, to keep this clear. Losing is part of the daytrading business. Honestly. Everybody in here should know that. There's nothing else as the losing amount of bucks, what is in control. Everyhting else is the hard work as a daytrader.

Patience is the key but get just rid of losing positions and do not throw good money in the back of the bad one. Just find another good setup and start over with a fresh trade.

If your setup is losing, your setup is wrong, makes no sense to keep opening positions in the same wrong setup.

Forget about this recovering. May be successful for a handful of traders but the most of us will just break down the account and lose the hard earned money.

Just my thoughts and now I have to say a big "thank you" to Al and every contributor to this thread. I read the first 100 pages and I'm impressed what's going here. Just keep the good work going. I learned a lot and I'll take some of this information to my own trades. But I trade the H1 and H4 charts, this 15 min system is like scalping to me. I don't have the time for that, cause I'm still a part time trader.

Have a great trading week and nice evening though.

Markus
  • #3,166
  • Mar 4, 2012 1:02pm Mar 4, 2012 1:02pm
If I make it another 10 days I will turn 74 so don't be too harsh. I just downloaded the packet and I put the yellow diamond shapes in the Experts>Indicators. I know the "tmpl" go in the Templates (not Experts>Templates) but where do the .ex4s go? Not ever downloaded something like that. thanks. p.
  • #3,167
  • Mar 4, 2012 1:10pm Mar 4, 2012 1:10pm
Quoting piprac
If I make it another 10 days I will turn 74 so don't be too harsh. I just downloaded the packet and I put the yellow diamond shapes in the Experts>Indicators. I know the "tmpl" go in the Templates (not Experts>Templates) but where do the .ex4s go? Not ever downloaded something like that. thanks. p.
Hi piprac,

I just jump in for Al.
The ".ex4" files are also indicators (executables) and therefore go into the "experts>indicators" folder.

Cheers,
Olarion
  • #3,168
  • Mar 4, 2012 1:12pm Mar 4, 2012 1:12pm
Quoting RyadPro
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.
Hello Ryad,

Every day since I read your post, my conscience has been bothering me. Since you are a Junior Member here at Forex Factory, you cannot send me a Private Message yet. So please follow my instructions.

Comment several times on various threads or news articles. The folks here at FF only monitor your first few posts and then they will make you a full Member. After you are Member, search my screen name - "faxxion". That will take you to my profile. Please send me a Private Message (PM). I will respond and we can discuss matters in confidence.

I can hear the desperation in your words. I want you to know that it is not hopeless. At the same time, it will not be easy nor will it happen quickly. Much hard work is ahead, but I am happy to assist.

Your Friend,

William
may you find what you seek and trade what you find
  • #3,169
  • Mar 4, 2012 1:23pm Mar 4, 2012 1:23pm
Hi, I've tried to get the simulator going, I followed instructions, when it says to "save chart view into blanksim.tpl" does that mean just to save your current chart that you want to test as "blanksim.tpl"? If so, I've done that. I press start, but nothing happens, the simulator will not start. (I have followed the rest of the instructions) Any ideas anyone?
Thanks in advance.
  • #3,170
  • Mar 4, 2012 1:24pm Mar 4, 2012 1:24pm
Quoting scott-ibm
thank you , William and Alfredo :

if we want to sync together at the the same pivot points,

setting GMT = 0 , and then figure out my broker offset ( +1, or +2.....)

and does it related to my location ? I means I m locate at asia, Taiwan, Taipei, time zone is Beijing time,

anyway, I follow your comments of GMT setting =0 , but how to figure out
my Alpari UK broker offset ??


best wishes,

SCOTT
Hello Scott,

GMT is not a matter of where you live but rather where your broker is located. You can calculate the GMT offset yourself, but the easiest way is to contact your broker. You can call them directly or search their webite for "GMT offset" or "GMT time" or simply "GMT".

Good Trading,

William
may you find what you seek and trade what you find
  • #3,171
  • Mar 4, 2012 1:26pm Mar 4, 2012 1:26pm
Quoting hunterhunt
Thank you Al, waiting for your experience! I linked an example from feb17 eur/usd divergence.
Here is a great example of an excellent trade that would not have worked with a tight stop loss, which would have been triggered on the last shakeout, just before the pair took off higher.
Observation is the path to discovery.
  • #3,172
  • Mar 4, 2012 1:28pm Mar 4, 2012 1:28pm
Quoting traveliron
Eremix that was very well spotted.

That pdf that explains recovery was quite an old version. The updated (and correct) version can be found on the first post of Sixths Trading: http://www.forexfactory.com/showthre...ghlight=sixths
It is the pdf called The Beast User Guide and obviously you will only be interested in the part talking about Recovery.

The first intuition is "OMG no stoploss!" but I think it is the way to go as long as you use small trades relative to your pot.
Can you please, post the correct pdf when you can segregate it from the rest?

Thanks.
Observation is the path to discovery.
  • #3,173
  • Mar 4, 2012 1:34pm Mar 4, 2012 1:34pm
Quoting faxxion
Hello Ryad,

Every day since I read your post, my conscience has been bothering me. Since you are a Junior Member here at Forex Factory, you cannot send me a Private Message yet. So please follow my instructions.

Comment several times on various threads or news articles. The folks here at FF only monitor your first few posts and then they will make you a full Member. After you are Member, search my screen name - "faxxion". That will take you to my profile. Please send me a Private Message (PM). I will respond and we can discuss matters in confidence....
Count me in, William. I too have had trouble the past few days since this post. Let me know by PM when you hear from him.

Thanks.
Observation is the path to discovery.
  • #3,174
  • Mar 4, 2012 1:42pm Mar 4, 2012 1:42pm
Quoting faxxion
Hello Ryad,

Every day since I read your post, my conscience has been bothering me. Since you are a Junior Member here at Forex Factory, you cannot send me a Private Message yet. So please follow my instructions.

Comment several times on various threads or news articles. The folks here at FF only monitor your first few posts and then they will make you a full Member. After you are Member, search my screen name - "faxxion". That will take you to my profile. Please send me a Private Message (PM). I will respond and we can discuss matters in confidence....
I want to ask you William, and the room mentors if you pros can help me to learn the real insider forex market, trading system, entry exits, chart templetes setups. I've never traded a real account, I'm disabled on a fixed income, really need to learn to read see understand pro chart reading setups on mt4 support resistance levels candlesticks in demo account first before using a micro account. I hope you will help me you and other mentors, I thank you in advance for all kindness help offered respectfully Dennis ...
  • #3,175
  • Mar 4, 2012 1:42pm Mar 4, 2012 1:42pm
Here is The Beast User Guide. The part we're interested in is the Recovery section, pages 19-21. Sorry but I don't know how to chop out all the other stuff. It's pretty close to the previous version posted but has the correct figures in the examples.

One important thing that I'm not sure is emphasised enough is that Recovery is not just entered automatically when you're a set amount of pips against your trade. It should only be entered when all the conditions of your trading system are met.
Attached File(s)
File Type: pdf The Beast User Guide.pdf   199 KB | 1,158 downloads
  • #3,176
  • Mar 4, 2012 1:44pm Mar 4, 2012 1:44pm
Woah, where have I been? We're already over 200 pages.
  • #3,177
  • Mar 4, 2012 1:51pm Mar 4, 2012 1:51pm
Quoting Olarion1975
Hi piprac,

I just jump in for Al.
The ".ex4" files are also indicators (executables) and therefore go into the "experts>indicators" folder.

Cheers,
Olarion
Thank you very much Olarion.
  • #3,178
  • Mar 4, 2012 2:00pm Mar 4, 2012 2:00pm
Quoting piprac
Thank you very much Olarion.
My pleasure!

I might add that "ex4" files could also be expert advisors (EA) - but in this case (Al's ZIP packet) they are all indicators.

Have a nice trading week. Time to hit the pillow for me...
  • #3,179
  • Mar 4, 2012 2:01pm Mar 4, 2012 2:01pm
Quoting traveliron
Here is The Beast User Guide. The part we're interested in is the Recovery section, pages 19-21. Sorry but I don't know how to chop out all the other stuff. It's pretty close to the previous version posted but has the correct figures in the examples.

One important thing that I'm not sure is emphasised enough is that Recovery is not just entered automatically when you're a set amount of pips against your trade. It should only be entered when all the conditions of your trading system are met.
Yes. This is a very important point. Your trade must still be technically viable before you enter Recovery. As I said last week. You can put makeup on a pig, but it still will be a pig. If it´s a bad trade to begin with, all the recovery in the world can do little to save it. If you decide to try the recovery method, you have to be able to take a large loss if and when the quality of the trade has deteriorated. If you are not able to do that, you are just hoping and Recovery will not help you in that circumstance.
Observation is the path to discovery.
  • #3,180
  • Mar 4, 2012 2:02pm Mar 4, 2012 2:02pm
The mention of the PDF relating to recovery trades reminded me of the question I asked a couple of days back and your reply.

If you read the PDF you will see where my question came from.

-----------------------------------------------------------------------------------------

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?

"Yes. Follow the Doc by nanningbob. What you described above is Martingaling which can lead to disaster. Recovery is NOT Martingale. Martingale is a form of gambling."
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