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Extreme TMA System

  • #3,221
  • Mar 4, 2012 9:49pm Mar 4, 2012 9:49pm
Quoting beto21_cwb
Would this trade (USD/JPY M15 @ 2AM GMT) still be valid even though it's not a good time to trade ?

FPV was tested, TMA slope was probably ranging (lower than 0.5), and I can't say if it was going up or down, I was not looking at this chart when the opportunity showed up...
I think you should re-read the rules on the page 1. The price must be either above the upper TMA band or below the lower TMA band. You can't enter near the middle band!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #3,222
  • Mar 4, 2012 9:54pm Mar 4, 2012 9:54pm
Quoting Favorite
I hope your broker gives you a good GBPCHF spread. A lot of brokers treat this pair as an exotic pair and the spreads are big, even huge.
Favorite, you're absolutely right. I've just checked here:

http://www.myfxbook.com/forex-broker-spreads

There's really a huge difference... And I did not choose all brokers...
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  • #3,223
  • Mar 4, 2012 9:55pm Mar 4, 2012 9:55pm
Quoting beto21_cwb
So how's it going with M15 charts ?
Still watching, evaluating, testing, getting settings correct.
Confidence in the system is essential.
Its only live for me, but just 0.01 lots at this stage.
Still, waiting to catch the big move.
EP
  • #3,224
  • Mar 4, 2012 10:00pm Mar 4, 2012 10:00pm
Quoting EaglePip
Its only live for me, but just 0.01 lots at this stage.
That's smart, I also test with 0.01 lot. We're still learning, we have to master the system first!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #3,225
  • Mar 4, 2012 10:01pm Mar 4, 2012 10:01pm
Quoting Favorite
I think you should re-read the rules on the page 1. The price must be either above the upper TMA band or below the lower TMA band. You can't enter near the middle band!
Thanks for assisting me, Favorite, but I think you should re-read my post again... =)

I mentioned the candle that pierced FPV @ 2 AM GMT, not the current candle... When I took that screenshot, the opportunity was gone already... more than 2 hours and more than 10 candles...

Well, maybe I was not clear enough. I'll do better next time. Thanks.
  • #3,226
  • Mar 4, 2012 10:02pm Mar 4, 2012 10:02pm
Watching AUDUSD for 2nd test of S2 for an entry.
  • #3,227
  • Mar 4, 2012 10:05pm Mar 4, 2012 10:05pm
Quoting beto21_cwb
Favorite, you're absolutely right. I've just checked here:

http://www.myfxbook.com/forex-broker-spreads

There's really a huge difference... And I did not choose all brokers...
When I saw in your picture 7.1 pips spread, the only thing I could say: OH MY GOD!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #3,228
  • Mar 4, 2012 10:12pm Mar 4, 2012 10:12pm
Quoting beto21_cwb
Thanks for assisting me, Favorite, but I think you should re-read my post again... =)

I mentioned the candle that pierced FPV @ 2 AM GMT, not the current candle... When I took that screenshot, the opportunity was gone already... more than 2 hours and more than 10 candles...

Well, maybe I was not clear enough. I'll do better next time. Thanks.
You asked "Would this trade (USD/JPY M15 @ 2AM GMT) still be valid?"

And usually "still" means "at the moment", and at the moment the price is right in the middle of the TMA.

At any case, sorry for misunderstanding.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #3,229
  • Mar 4, 2012 10:13pm Mar 4, 2012 10:13pm
Quoting Jemook
Watching AUDUSD for 2nd test of S2 for an entry.
Me too!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #3,230
  • Mar 4, 2012 10:22pm Mar 4, 2012 10:22pm
Congratulations! We have more than 300,000 views!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #3,231
  • Mar 4, 2012 10:48pm Mar 4, 2012 10:48pm
Quoting Favorite
Either I don't understand something or I didn't understand what you said, but for me 10 pips is 10 pips.

If you want to get in EURGBP the amount 1,7 times more than in another pair, you have to increase your lot size 1.7 times. But you can do it with any other pair! Why do you think that 10 pips in EurGbp is like 17 in any other pair?




I hope your broker gives you a good GBPCHF spread. A lot of brokers treat this pair as an exotic pair and the spreads are big, even huge.

I was merely talking about the price gained per pip or pip value. 1 pip at .1 on eurusd is $1.00, 1 pip on eurgbp is $1.70
Sorry for the confusion , yes 1 pip is 1 pip, just some give more than others and some are lower like audnzd
I would rather get 10 pips on eurgbp than 15 pips on EU. That's all

Yeah I ended up with 10 pips on gbpchf and 5 on EG. So good start for me.
  • #3,232
  • Mar 4, 2012 10:49pm Mar 4, 2012 10:49pm
Hi all this system really works even in a slow asian session.
So far 3 win out of 3 with a total of 37pips.No chart from me now.I,m a total noob when comes to this computer thing still figuring out how to post a chart.Anyway my style is once alarm sound i check the 15mins trend move down to 5min chart to check detail PA & CCI divergence/convergence and the trigger is 5min MA crossover.I know CCI currently is not part of the system but I I'm so used to it.And I begin to love the MA crossover line.Thank You BIG AL.See you guys again during London.
  • #3,233
  • Mar 4, 2012 11:05pm Mar 4, 2012 11:05pm
Would this remain a valid trade until the TmaSlope shows a decreasing bar?

If price continues to go against the position, what would definitely show it to be a losing trade and time to close out?

Thanks.

This is AUDJPY

Also, the price bars had spiked below the lower band at entry.

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  • #3,234
  • Mar 4, 2012 11:05pm Mar 4, 2012 11:05pm
Quoting MMGood47
I was merely talking about the price gained per pip or pip value. 1 pip at .1 on eurusd is $1.00, 1 pip on eurgbp is $1.70
Sorry for the confusion , yes 1 pip is 1 pip, just some give more than others and some are lower like audnzd
I would rather get 10 pips on eurgbp than 15 pips on EU. That's all

Yeah I ended up with 10 pips on gbpchf and 5 on EG. So good start for me.
Now I got it! I never trade EURGBP because of the high spread, now I took a look, at my broker it is 1.4. Well, we live and we learn, thank you!

But of course that means that if the price goes against us we can lose 1.4 or 1.7 times more than with the other pair too...
Gentlemen always play by the rules. If they can't, they change the rules.
  • #3,235
  • Mar 4, 2012 11:11pm Mar 4, 2012 11:11pm
Quoting PistolDave
Would this remain a valid trade until the TmaSlope shows a decreasing bar?

If price continues to go against the position, what would definitely show it to be a losing trade and time to close out?

Thanks.

This is AUDJPY

Attachment

You should never enter a trade without an exit strategy. You can use recovery but I'd leave that until you completely understand it and have tested it for at least 45 years.

With that trade I'd be looking at how it reacts around S3 and if it starts breaking that I'd exit if you have no other exit/stops in place.
  • #3,236
  • Mar 4, 2012 11:14pm Mar 4, 2012 11:14pm
This is in regards to the rule of 'enter only if price is outside TMA bands' when it hits your support and resistance.

If this is correct for the first touch of S/R and then price moves away for a bit and while we wait for the second touch the bands get closer to the s/r can we still take the trade or is it better for the price to still be well outside of the bands on the second touch of S/R?
  • #3,237
  • Mar 4, 2012 11:22pm Mar 4, 2012 11:22pm
I'm not aware of any clear-cut exit rule when price continues to run against the position. As I recall, Al said that he would use recovery only if the technicals still indicate it to still be a valid trade. So, until the slope changes it is still valid, right?
  • #3,238
  • Mar 4, 2012 11:23pm Mar 4, 2012 11:23pm
Quoting PistolDave
Would this remain a valid trade until the TmaSlope shows a decreasing bar?

If price continues to go against the position, what would definitely show it to be a losing trade and time to close out?

Thanks.

This is AUDJPY

Also, the price bars had spiked below the lower band at entry.

Attachment

Hi PistolDave,

From your chart i can't see the MA_Crossover histogram. If you had it you would have seen that the MA histogram hadn't changed green yet, for that reason i would not have taken that trade. Just an observation of mine, maybe look into getting the histogram, its in the packet.zip file Alorente has made.

Good Luck.
  • #3,239
  • Mar 4, 2012 11:29pm Mar 4, 2012 11:29pm
Quoting PistolDave
Would this remain a valid trade until the TmaSlope shows a decreasing bar?

If price continues to go against the position, what would definitely show it to be a losing trade and time to close out?

Thanks.

This is AUDJPY

Also, the price bars had spiked below the lower band at entry.


Attachment

Maybe it is because of the repainting, but your chart looks like the price never was under the lower TMA band...

And another thing. Alorente keeps Heiken Ashi at his template on purpose. You should look at the Heiken Ashi while the price's testing the S/R level, like Alorente recommended once. In your case Heiken Ashi showed strong downtrend.

As to exit, I agree with Jemook when he says: "With that trade I'd be looking at how it reacts around S3 and if it starts breaking that I'd exit if you have no other exit/stops in place."
Gentlemen always play by the rules. If they can't, they change the rules.
  • #3,240
  • Mar 4, 2012 11:34pm Mar 4, 2012 11:34pm
Quoting StLeon
Hi PistolDave,

From your chart i can't see the MA_Crossover histogram. If you had it you would have seen that the MA histogram hadn't changed green yet, for that reason i would not have taken that trade. Just an observation of mine, maybe look into getting the histogram, its in the packet.zip file Alorente has made.

Good Luck.
The entry was valid, according to the entry rules. There is no reference to the MA_Crossover histogram now.

Entry Rules:

1- We will first determine trend in the TMA by using the TMA Slope indicator. Ranging TMA (-0.50 to 0.50): Trades can be placed in both directions. Bullish TMA (Above 0.51): Place ONLY Long trades. Bearish TMA (Below -0.51): Place ONLY Short trades.

2- Once trade direction is determined, we will look at the TMA and wait for price to cross one of the 2 outer bands, the top band for a short order or the bottom band for a long order. The further price moves across the bands, the more reliable the trade will be.

3- We will now look at the TMA Slope Indicator and only enter long positions if the Slope value is rising and only enter short positions if Slope value is falling. The steeper the rise or fall on the indicator, the stronger the signal.

4- Finally, 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. We will only take a long trade if price is below the lower band AND testing a support level located also below the lower band. The more distant from the band that price is, the stronger the signal.
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