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Extreme TMA System

  • #3,861
  • Mar 6, 2012 9:19pm Mar 6, 2012 9:19pm
I am planning to close when receive opp signal - what do you think? Still 'nuf time remain in session.
  • #3,862
  • Mar 6, 2012 9:22pm Mar 6, 2012 9:22pm
short and see?
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  • #3,863
  • Mar 6, 2012 9:25pm Mar 6, 2012 9:25pm
Subscribed. Keep up the great work.
Just trade the pullback you idiot!
  • #3,864
  • Mar 6, 2012 9:28pm Mar 6, 2012 9:28pm
I'm short @ 1.31436, so far -4 pips...

I forgot to wait the HA candle to turn red, as per Al's recommendation... I'd probably get a better price... I'll remember that next time.
  • #3,865
  • Mar 6, 2012 9:30pm Mar 6, 2012 9:30pm
Getting close to FPV...
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  • #3,866
  • Mar 6, 2012 9:36pm Mar 6, 2012 9:36pm
Quoting KDo
I am planning to close when receive opp signal - what do you think? Still 'nuf time remain in session.
It's almost 40 pips from band to band. I placed my TP @ center line (20 pips).

I'm using a conservative approach because the market is slow at the moment.

But please, note that I'm a conservative trader.
  • #3,867
  • Mar 6, 2012 9:39pm Mar 6, 2012 9:39pm
Quoting beto21_cwb
I'm short @ 1.31436, so far -4 pips...

I forgot to wait the HA candle to turn red, as per Al's recommendation... I'd probably get a better price... I'll remember that next time.
Should we not wait for 4 rules before going short?
  • #3,868
  • Mar 6, 2012 9:53pm Mar 6, 2012 9:53pm
Quoting KDo
Should we not wait for 4 rules before going short?
Hi KDo, thanks for the feed-back.

Ok, so let's analyze Al's 4th rule:

Quote
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.

As per my screenshot in post 3859, I took the short trade when price was above the upper band, AND, it was testing the resistance level (FPV).

That's my perspective, but I may have missed something...

The only thing I can think of is that I could have waited price to touch FPV (again), even though it was already tested by the previous candle. Oh, and also, I could have waited the HA candle to turn red.

Could you please advise if in your opinion I should not have taken this trade ?

Thanks
  • #3,869
  • Mar 6, 2012 10:00pm Mar 6, 2012 10:00pm
I'm with you brother... I was trying to measure the slope when I saw the cross flash. Just look where it is now!
  • #3,870
  • Edited 10:29pm Mar 6, 2012 10:01pm | Edited 10:29pm
Hola My Friend,

I am sure you are catching your beauty rest right now. I just thought I would share something that greatly built my confidence is the system.

Last night there were two trades that met our criteria. I took both trades, set my TP and SL and went to bed. I used smaller lots for the test because I am trading live. When I woke up this morning...+60 pips. I am doing the same tonight for some setups. I will let you know how it goes tomorrow.

Thank you again for your time and kind patience. It is very much appreciated.

Sincerely,

William
may you find what you seek and trade what you find
  • #3,871
  • Mar 6, 2012 10:05pm Mar 6, 2012 10:05pm
Quoting beto21_cwb
The only thing I can think of is that I could have waited price to touch FPV (again), even though it was already tested by the previous candle. Oh, and also, I could have waited the HA candle to turn red.

Could you please advise if in your opinion I should not have taken this trade ?

Thanks
I guess the q is now if it will go to mid or bottom - I think mid is better option - what do you think?
  • #3,872
  • Mar 6, 2012 10:08pm Mar 6, 2012 10:08pm
it's ok now.
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  • #3,873
  • Mar 6, 2012 10:08pm Mar 6, 2012 10:08pm
Quoting KDo
I'm with you brother... I was trying to measure the slope when I saw the cross flash. Just look where it is now!
Yup, agreed, +8 pips so far...

I just regret that, as the US Dollar Index was going up, I did not go long with USD/CAD and USD/CHF... They're both performing the same movement (but in opposite direction of course) of the EUR/USD... Beautiful !

I need to go to bed now. Moved SL to BE, and left TP just below the middle band.
  • #3,874
  • Mar 6, 2012 10:45pm Mar 6, 2012 10:45pm
Quoting faxxion
[color=black][font=Verdana]Hola My Friend,

I am sure you are catching your beauty rest right now. I just thought I would share something that greatly built my confidence is the system.

Last night there were two trades that met our criteria. I took both trades, set my TP and SL and went to bed. I used smaller lots for the test because I am trading live. When I woke up this morning...+60 pips. I am doing the same tonight for some setups. I will let you know how it goes tomorrow.

Thank you again for your time and kind patience. It is very...
William,

Great to hear you are making money while you sleep! Congrats!

Greg
  • #3,875
  • Mar 6, 2012 11:25pm Mar 6, 2012 11:25pm
Hello Greg,

You must get up earlier every day. I was just getting ready to shut it all down when I saw your post. Since I made my last post, the EURJPY took a 15 pip profit and USDCAD sold at break even. Now I have nothing to wake up to.

Have a good evening, or good morning...or whatever it is for you right now.

Sincerely,

William
may you find what you seek and trade what you find
  • #3,876
  • Mar 7, 2012 12:44am Mar 7, 2012 12:44am
Quoting beto21_cwb
What do you people think ? EUR/USD is hitting FPV, but the EURO index is rising...
Hi Beto,

may I know where you get the Euro index?

T Y in advance
  • #3,877
  • Mar 7, 2012 12:58am Mar 7, 2012 12:58am
Quoting corvogrigio
Hi Beto,

may I know where you get the Euro index?

T Y in advance
Here is one

http://www.barchart.com/quotes/stocks/$EXY
  • #3,878
  • Mar 7, 2012 1:13am Mar 7, 2012 1:13am
Quoting SnailRoll
Hey Al, when we trade band to band do you set your TP near the opposite band at the time of entry? Since the band moves as price moves do we follow the movement and exit when the price touches the new position? Or do we exit on where the opposite band WAS when we entered?
I donīt like to preset TP when I trade. I like to watch what PA is doing and how it is acting. I many times exit at center line if I see stalling hesitation and weakness. So the answer to your question is, it depends...
Observation is the path to discovery.
  • #3,879
  • Mar 7, 2012 1:17am Mar 7, 2012 1:17am
Quoting Paradox
I can look at them more tomorrow. But I am a big believer in discretion and am not very comfortable with a Trade entering EA. Is that what your are asking? Don't take this the wrong way but you don't know how good you are at discretionary exits. An automatic EA like this will not make money over any long period of time.

I played with the rules a bit in testing mode. That slope line can hold in the white for a while and after it is switched can easily go back white and whip you out of the trade. I mean I like it and I like the basic rules you can...
I agree with everything you said. I donīt trade with EAs either, but for testing on several pairs simultaneously it will be very good for me. Please, let me know if you can do it as per the rules. Thanks.
Observation is the path to discovery.
  • #3,880
  • Mar 7, 2012 1:22am Mar 7, 2012 1:22am
Quoting Favorite
Al, thank you very much for the voucher! That means a lot to me.
You deserve it, Mike. You not only contribute in many ways, but you are fiercely loyal to your group.
Observation is the path to discovery.
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