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Extreme TMA System

  • #3,421
  • Mar 5, 2012 8:45am Mar 5, 2012 8:45am
Quoting andyvxr
Sorry but this system will not last, the tmaslope repaints too, so more or less all the indicators used repaints, i have been in 3 trades this morning following the rules and they all turned out losses.

Seems back to the drawing board for me yet again.

Well done Al tho, for making trading work for alot of people, congrats for that your a good man, and keep up the good work.
I wish anybody who says that he had several losses could show at least one of the trades. Because sometimes people think that they follow the rules but they don't. For example fxtr51 showed us his Friday's USDCHF trade, and Al and Shahrooz explained why he shoudn't enter... I really wish anybody would do the same...
Gentlemen always play by the rules. If they can't, they change the rules.
  • #3,422
  • Mar 5, 2012 9:01am Mar 5, 2012 9:01am
Quoting Alorente
Also, remember that S1 and S2 in GbpJpy had already been broken on the way down today, so they became weaker and easier to break on the way up.
Hi Al thanks for the reminder totally forgot about that will keep that in mind always.Anyway my entry was too early still need lots of practice and guidance from you. Thanks again.
  • #3,423
  • Mar 5, 2012 9:03am Mar 5, 2012 9:03am
Quoting Favorite
I wish anybody who says that he had several losses could show at least one of the trades. Because sometimes people think that they follow the rules but they don't. For example fxtr51 showed us his Friday's USDCHF trade, and Al and Shahrooz explained why he shoudn't enter... I really wish anybody would do the same...
Good point, Mike.
Observation is the path to discovery.
  • #3,424
  • Mar 5, 2012 9:08am Mar 5, 2012 9:08am
Mike you are so logical

A good expression in persian which says :

Man learns of his mistake.
  • #3,425
  • Mar 5, 2012 9:10am Mar 5, 2012 9:10am
practice 1
sell gbpusd

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd sell.gif Size: 44 KB




practice 2

buy usdchf

Attached Image (click to enlarge)
Click to Enlarge Name: usdchf buy.gif Size: 44 KB



any comment?
  • #3,426
  • Mar 5, 2012 9:17am Mar 5, 2012 9:17am
Quoting amiralifx
practice 1
sell gbpusd

Attachment



practice 2

buy usdchf

Attachment


any comment?
IŽm in both with you. Also in on EurJpy and EurAud
Observation is the path to discovery.
  • #3,427
  • Mar 5, 2012 9:26am Mar 5, 2012 9:26am
Quoting Alorente
IŽm in both with you. Also in on EurJpy and EurAud
hi al. please explain me what your cause for selling eurjpy?

in this picture in my chart price distance that pivot.

Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy.gif Size: 46 KB



thanks
  • #3,428
  • Mar 5, 2012 9:30am Mar 5, 2012 9:30am
Hey Al, how are your studies on CCI divergence and range bars ? Any conclusion yet ?

Thanks for everything Al, you've made my forgotten dream of becoming a full-time trader much closer to be achieved.
  • #3,429
  • Mar 5, 2012 9:43am Mar 5, 2012 9:43am
Quoting beto21_cwb
Hey Al, how are your studies on CCI divergence and range bars ? Any conclusion yet ?

Thanks for everything Al, you've made my forgotten dream of becoming a full-time trader much closer to be achieved.
No. IŽm slowly working on it. It will take me a couple of weeks.
Observation is the path to discovery.
  • #3,430
  • Mar 5, 2012 10:00am Mar 5, 2012 10:00am
Hey Al,

How do you react to situations like we are seeing now in the GBP/USD? The trade was in profit but never quite hit the middle band. Now we have gone back for another test on the DP making it a bit weaker. Would you cut losses or let it ride?

I know from my simulator trading that you often get a retrace and then a strong move back towards the TMA, but I'm always nervous when it's back all the way for a retest of the pivot.
  • #3,431
  • Mar 5, 2012 10:02am Mar 5, 2012 10:02am
Quoting amiralifx
hi al. please explain me what your cause for selling eurjpy?

in this picture in my chart price distance that pivot.

Attachment


thanks
I have the same question.

On my screenshot of EURJPY you can see the H4 resistance level in red color and below the FPV a blue line which is the D1 Support level C .
These levels are drawn by the indicator which I attached on Friday (it is drawing the H4, Daily, Weekly and Monthly S/R levels)

Price did not touch the FPV, it reversed 8 Pips below ( which is a "test" of the level in my books ).

So the rules are met for a Short Entry, yes, but
there is the S1 at 107.652 and it is like a wall - or could be a wall to price.

Since this situation is similar to that on USDCHF where the Support level was equally becoming a threat (or hindrance) to price and back then
you (Al) told me that the Support level was a clear "No" for a Short,
why should it be different here on EURJPY ?

Maybe this is a good example for the subjectiveness which is a reality in all strategies. One trader decides to not enter Short because of the S1, the other does enter, but why ?

http://i.imgur.com/gMXkY.png
  • #3,432
  • Mar 5, 2012 10:10am Mar 5, 2012 10:10am
buy nzdusd

Attached Image (click to enlarge)
Click to Enlarge Name: 3-nzdusd.gif Size: 41 KB
  • #3,433
  • Mar 5, 2012 10:10am Mar 5, 2012 10:10am
Quoting los_pipos
Hey Al,

How do you react to situations like we are seeing now in the GBP/USD? The trade was in profit but never quite hit the middle band. Now we have gone back for another test on the DP making it a bit weaker. Would you cut losses or let it ride?

I know from my simulator trading that you often get a retrace and then a strong move back towards the TMA, but I'm always nervous when it's back all the way for a retest of the pivot.
Double tops are normal patterns at turns. EurJpy is also making a double top and UsdChf in a double bottom. WeŽll see if FPV holds.

EurAud is having a tough time. Right now it is far from entering recovery. It can still turn around lower if Euro weakens here.
Observation is the path to discovery.
  • #3,434
  • Mar 5, 2012 10:11am Mar 5, 2012 10:11am
Quoting amiralifx
hi al. please explain me what your cause for selling eurjpy?

in this picture in my chart price distance that pivot.

Attachment


thanks
Sold on 3rd test of S1, not test of FPV.
Observation is the path to discovery.
  • #3,435
  • Mar 5, 2012 10:13am Mar 5, 2012 10:13am
Quoting fxtr51
I have the same question.

On my screenshot of EURJPY you can see the H4 resistance level in red color and below the FPV a blue line which is the D1 Support level C .
These levels are drawn by the indicator which I attached on Friday (it is drawing the H4, Daily, Weekly and Monthly S/R levels)

Price did not touch the FPV, it reversed 8 Pips below ( which is a "test" of the level in my books ).

So the rules are met for a Short Entry, yes, but
there is the S1 at 107.652 and it is like a wall - or could be a wall to price.

Since this situation...
As I just posted, sold on 3rd test of S1 before it broke temporarily. The trade followed the rules. Still testing S1 right now.
Observation is the path to discovery.
  • #3,436
  • Mar 5, 2012 10:19am Mar 5, 2012 10:19am
Quoting shahrooz67
Mike you are so logical

A good expression in persian which says :

Man learns of his mistake.
And the Russians just love to say: "I'd better learn of somebody else's mistakes!"
Gentlemen always play by the rules. If they can't, they change the rules.
  • #3,437
  • Mar 5, 2012 10:26am Mar 5, 2012 10:26am
Quoting Alorente
EurAud is having a tough time. Right now it is far from entering recovery. It can still turn around lower if Euro weakens here.
From last week I was in Drawdown from 3 trades in EURAUD (Long trades).
All 3 are closed with a nice profit today. That was my personal Recovery victory.

The USDCHF Short from Friday is no problem, it is in floating loss of 41 Pips .

As you said many times now, Recovery is not for all, it is a matter of taste and MoneyManagement and such, but I like it more than taking a loss.

Thanks for the explanation of the EURJPY short.
  • #3,438
  • Mar 5, 2012 10:31am Mar 5, 2012 10:31am
Quoting Favorite
And the Russians just love to say: "I'd better learn of somebody else's mistakes!"

That is exactly why we have third world and the first one !

If any body did some thing wrong we have not to do that again !

TRUST TRUST TRUST
  • #3,439
  • Mar 5, 2012 10:32am Mar 5, 2012 10:32am
Quoting Alorente
As I just posted, sold on 3rd test of S1 before it broke temporarily. The trade followed the rules. Still testing S1 right now.

AL do you care about mid pivot levels ?!

like MS1 ?!
  • #3,440
  • Mar 5, 2012 10:34am Mar 5, 2012 10:34am
Quoting fxtr51
From last week I was in Drawdown from 3 trades in EURAUD (Long trades).
All 3 are closed with a nice profit today. That was my personal Recovery victory.

The USDCHF Short from Friday is no problem, it is in floating loss of 41 Pips .

As you said many times now, Recovery is not for all, it is a matter of taste and MoneyManagement and such, but I like it more than taking a loss.

Thanks for the explanation of the EURJPY short.
Same with me on the euraud , we must have both entered before Al warned about the Euro.
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