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Extreme TMA System

  • #3,241
  • Mar 4, 2012 11:38pm Mar 4, 2012 11:38pm
Quoting Jemook
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?
I'd like to hear Alorente's answer to this question!

But as far as I understand, the first post says: "after complying with the 4 rules mentioned above, place the order after price touches (tests) the support/resistance line at least once."

So, one trader would enter immediately, after the first touch, another would wait and enter later, when, say, he likes the Heiken Ashi, the third one goes to M1 and wait for the price cross MA100 (one of the Alorente's tips). But it still be the same trade that started when the price was outside the bands!

Just my two cents.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #3,242
  • Mar 4, 2012 11:38pm Mar 4, 2012 11:38pm
Quoting Favorite
Maybe it is because of the repainting, but your chart looks like the price never was under the lower TMA band...

It was under it enough to be a valid entry at the time. The bands continued to repaint lower as the price was dropping.
  • #3,243
  • Mar 4, 2012 11:44pm Mar 4, 2012 11:44pm
Hi PistolDave,

According to those rules yep its valid. Just letting you know that as a personal thing that i always do is wait for the MA to crossover before entering. Hope it helps and good luck with future trades.

StLeon.
  • #3,244
  • Mar 4, 2012 11:46pm Mar 4, 2012 11:46pm
Opinions on this trade in AUDUSD?

I forgot to mention the the support/resistance rule in the picture, but you can see that PA is at S2, and has test this level several times

http://www.forexfactory.com/attachme...1&d=1330926057
  • #3,245
  • Mar 4, 2012 11:49pm Mar 4, 2012 11:49pm
Quoting odellcash
Opinions on this trade in AUDUSD?

I forgot to mention the the support/resistance rule in the picture, but you can see that PA is at S2, and has test this level several times

http://www.forexfactory.com/attachme...1&d=1330926057
I'm in AUDUSD 1.0704.

Also just got in AUDJPY S4 + weekly pivot.
  • #3,246
  • Mar 4, 2012 11:55pm Mar 4, 2012 11:55pm
Quoting PistolDave
The entry was valid, according to the entry rules. There is no reference to the MA_Crossover histogram now.
I agree. MA_Crossover histogram is not the part of the system, it is just the part of the template. The rules never mention MA_Crossover histogram.

But I want to repeat what Alorente said about watching Heiken Ashi while the price's testing S/R level:

"An easy system to know how much to wait, is until you begin to see the Heiken Ashi candle turn red, in this case (short). For a long, wait for the Heiken Ashi candle to begin turning Blue. Then you jump in!"
Gentlemen always play by the rules. If they can't, they change the rules.
  • #3,247
  • Mar 5, 2012 12:01am Mar 5, 2012 12:01am
Quoting Favorite
But I want to repeat what Alorente said about watching Heiken Ashi while the price's testing S/R level:

"An easy system to know how much to wait, is until you begin to see the Heiken Ashi candle turn red, in this case (short). For a long, wait for the Heiken Ashi candle to begin turning Blue. Then you jump in!"
We really need this PDF book that flaw created!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #3,248
  • Mar 5, 2012 12:03am Mar 5, 2012 12:03am
Quoting PistolDave
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?
Hello Dave,

I believe for recovery trades Alfredo switches higher time frames. Therefore, it ultimately it depends on wheter you traded in the direction of the trend. If so, the trade is probably still valid.

Sincerely,

William
may you find what you seek and trade what you find
  • #3,249
  • Mar 5, 2012 12:05am Mar 5, 2012 12:05am
Quote
An easy system to know how much to wait, is until you begin to see the Heiken Ashi candle turn red, in this case (short). For a long, wait for the Heiken Ashi candle to begin turning Blue. Then you jump in!

I actually do remember this, but my question is that by the time the HA turns colors, the PA has usually moved back inside the band.

So I assume the trade is signaled by the rules and is still valid even though the trigger comes after the PA has moved. (within reason of course)
  • #3,250
  • Mar 5, 2012 12:14am Mar 5, 2012 12:14am
I may be misunderstanding, but I thought Al made it clear in his answer to
chaveznqoos in Post 3115:
----------
chaveznqoos:

Sorry guy;
My question to Al, was on the fourth rule, and when opening the position;
and his answer was :

"Hello friend. Thank you for your nice words.

You can enter the position at the first touch of the line (pivot level), but I prefer to wait until the second touch with other different bar to ensure no line breaks to the first. No waiting at the end of the bar. With the second touch, enters the order. The more beyond this price band, the more likely you are to a good trade and you have to get more benefit."
Cheers

---------------
  • #3,251
  • Mar 5, 2012 12:14am Mar 5, 2012 12:14am
Al, Just finished reading all the posts of last night(my time). I'm glad that you like the PDF file. I have nothing better to contribute, this is the least I could do.

You certainly deserve the title--"Al' Wisdom". I think a lot of people benefited
a lot from your mentoring.

Another thing, I think you and FAXXION are doing a noble thing to help the desperate. My solute to both of you.

flaw
Wishing my last name were LESS
  • #3,252
  • Mar 5, 2012 12:17am Mar 5, 2012 12:17am
Hi people, If you want the PDF "Al's Wisdom Vol. I" please PM me. I'd like to share Al's workload.( You too, Favorite, If you haven't already got it.)
flaw
Wishing my last name were LESS
  • #3,253
  • Mar 5, 2012 12:31am Mar 5, 2012 12:31am
Quoting PistolDave
"Hello friend. Thank you for your nice words.

You can enter the position at the first touch of the line (pivot level), but I prefer to wait until the second touch with other different bar to ensure no line breaks to the first. No waiting at the end of the bar. With the second touch, enters the order. The more beyond this price band, the more likely you are to a good trade and you have to get more benefit."
Thank you, PistolDave, it is a very good point.

P.S. But I still prefer to check Heiken Ashi too.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #3,254
  • Mar 5, 2012 12:32am Mar 5, 2012 12:32am
Quoting flaw
You too, Favorite, If you haven't already got it.
Thank you, flaw, I just PM-d you!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #3,255
  • Mar 5, 2012 12:33am Mar 5, 2012 12:33am
Anyone else in on AUDJPY S4.. I really think this is a top notch trade. Could have entered on HA blue colour change too.
  • #3,256
  • Mar 5, 2012 12:41am Mar 5, 2012 12:41am
Quoting Jemook
Anyone else in on AUDJPY S4.. I really think this is a top notch trade. Could have entered on HA blue colour change too.
I liked the setup, but I decided that at Sunday/Monday night I'd better not trade until London Open (except scalping M1 with another system). Maybe I was wrong, it seems like a nice trade.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #3,257
  • Mar 5, 2012 12:49am Mar 5, 2012 12:49am
GBP/JPY price around R3 but looks like it wants to go lower and USD/JPY (slope -20) price around S1 but looks like it wont bounce yet.
  • #3,258
  • Mar 5, 2012 12:49am Mar 5, 2012 12:49am
Odelcash and others,

Please include your email when PM me.

flaw
Wishing my last name were LESS
  • #3,259
  • Mar 5, 2012 12:56am Mar 5, 2012 12:56am
Morning All,

After spending all weekend reading all the posts, im ready to trial trade this system.

I wake up this morning and all the JPY pairs are ready to trade soon, just waiting for a cross over on the MA.

USDJPY, AUDJPY, GBPJPY, EURJPY, CHFJPY, CADJPY
  • #3,260
  • Mar 5, 2012 1:00am Mar 5, 2012 1:00am
Quoting Alorente
Congratulations and Thank You to flaw for the hard work involved in putting the first volume of my thoughts together. It has been prepared in a very profesional manner with hyperlinks to relevant posts, charts, etc. Great job man, even though I really think I do not deserve the honor of having my thoughts bound in a document like this.

By the way, the title is his idea. My tiny ego would not allow me to think of a title like that.

[b]You are quite a guy. I really appreciate...
you have a pm.
thanks
Sabrina
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