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Extreme TMA System

  • #4,981
  • Mar 12, 2012 10:09am Mar 12, 2012 10:09am
My Conclusions so far.

After paper trading this system I conclude:

if you are new to trading you should not trade it.... many reasons for this, the main being too many "entry" signals and a recovery system that would cause many to have heart failure lol.

now I'm not saying the system is bad, but you do need some experience to see the wood from the tree's signal wise.

I think this is best traded as a swing system off strong s&r. Or to as an entry into a trending markets (1h trending 5m or 15m pullback entry) Trading on every ha entry off r1/s1 etc will burn your account quick smart... the tma slope .5--.5 etcetc still leaves to many bad entries on the table got my liking.

The dashboard has it's uses as a "heads up" (well coded that man)

As i've said, I've traded this alongside my normal trading...there have been good entries but many many bad ones that could only have been negated by experience.

I hope you can tell i'm not having a pop or being derisory towards the system or it's maker(s) infact i like the way the theads been conducted and the system is workable. I'm just pointing out that it's not for everyone.

Kind Regards
  • #4,982
  • Mar 12, 2012 10:17am Mar 12, 2012 10:17am
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  • #4,983
  • Mar 12, 2012 10:22am Mar 12, 2012 10:22am
Quoting icarusfx
My Conclusions so far.

After paper trading this system I conclude:

if you are new to trading you should not trade it.... many reasons for this, the main being too many "entry" signals and a recovery system that would cause many to have heart failure lol.

now I'm not saying the system is bad, but you do need some experience to see the wood from the tree's signal wise.

I think this is best traded as a swing system off strong s&r. Or to as an entry into a trending markets (1h trending 5m or 15m pullback entry) Trading on every ha...

I don't think there is a good system for new traders. With that being said I believe the vast majority of the signals can be filtered out by only taking signals that went far outside the tma (say at least 10 pips) before coming back. I have backtested it using simulator and this is very very reliable even without recovery. The farther outside the better but also you will get less signals. I think a lot of people on here are taking every signal but only posting the winning trades.
  • #4,984
  • Mar 12, 2012 10:32am Mar 12, 2012 10:32am
Quoting bfis108137
I don't think there is a good system for new traders. With that being said I believe the vast majority of the signals can be filtered out by only taking signals that went far outside the tma (say at least 10 pips) before coming back. I have backtested it using simulator and this is very very reliable even without recovery. The farther outside the better but also you will get less signals.
lol your right, there is no good system for beginners but there are bad ones for them! thats what i'm pointing out.

I also take your point about "signals far outside the tma" I'm sure I'm right in saying these will be a "swing highs" and "swing lows" again something i was attempting to point out....

kind regards
  • #4,985
  • Edited 10:45am Mar 12, 2012 10:43am | Edited 10:45am
Quoting icarusfx
lol your right, there is no good system for beginners but there are bad ones for them! thats what i'm pointing out.

I also take your point about "signals far outside the tma" I'm sure I'm right in saying these will be a "swing highs" and "swing lows" again something i was attempting to point out....

kind regards
Your comments have gone from being constructive to being condescending.
may you find what you seek and trade what you find
  • #4,986
  • Mar 12, 2012 10:54am Mar 12, 2012 10:54am
Quoting icarusfx
lol your right, there is no good system for beginners but there are bad ones for them! thats what i'm pointing out.

I also take your point about "signals far outside the tma" I'm sure I'm right in saying these will be a "swing highs" and "swing lows" again something i was attempting to point out....

kind regards
Hi icarustx you only need to master one or two set up to make pips.Trade that pattern everyday until you really master it.Your winner will be more
than you loser that how you make pips.

Im in again short @9938 as long as the pin bar not taken out this set up to me is still valid.
  • #4,987
  • Mar 12, 2012 10:55am Mar 12, 2012 10:55am
Quoting faxxion
Your comments have gone from being constructive to being condescending.
It is normal that a trader will find fault with a system when he personally cannot win with it. You just have to put his comments in context and turn the page. He feels he has experience, so if he canīt win with this, beginners will have even more trouble...

I feel each of us is capable of determining if a system is workable without help from others.
Observation is the path to discovery.
  • #4,988
  • Mar 12, 2012 10:56am Mar 12, 2012 10:56am
Quoting icarusfx
I hope you can tell i'm not having a pop or being derisory towards the system or it's maker(s) infact i like the way the theads been conducted and the system is workable.
Of course everybody can see that you're not!

Very nice post, icarusfx!

You're absolutely right about new traders, they have to be very careful.

About "too many entry signals". Probably you're right, but at the same time I see that it usually happens when a new trader tries to take any signal he can see on any timeframe and any currency (and now the Dashboard helps him to do that).

What I'm trying to say: Al showed us several different methods (including scalping with the dashboard), he trades M1, M5, M15, H1, 8 currencies, gold etc. and the new traders think that it is the way to use the system. They don't understand that Al traded with TMA almost a year and he is a great trader with 30 years' experience, and he does all this because he is still testing different timeframes and different methods. They try to do the same and they end up being "Jack of all trades, master of none". And they also try to make several hundred pips per day (like Al sometimes does).

I think the right way (and not only for the newbies) is to choose one or two timeframes and really master them, and trade them without Dashboard, and trade only 3-5 currencies. That way you won't see too many signals and you'll choose your trades really carefully. We don't really need hundreds of pips, I'm very happy with 50-60 pips per day, you just have to choose your lot size!

I decided to trade only M15 (EURUSD, GBPUSD, AUDUSD, EURJPY) and M1 (only EURUSD). And so far I'm VERY satisfied!

icarusfx, the only thing you're wrong is the recovery. Al never recommended it as the only way, he provided explanation how to set the much smaller than 100 pips SLs.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #4,989
  • Mar 12, 2012 10:58am Mar 12, 2012 10:58am
Quoting faxxion
Your comments have gone from being constructive to being condescending.
ok lets stop this before it starts. If you've read into something I written as condescending then it's something that was never intended. I have no interest in starting a wars of words I've better things to do with my time.
  • #4,990
  • Mar 12, 2012 11:01am Mar 12, 2012 11:01am
Quoting Favorite
Of course everybody can see that you're not!

Very nice post, icarusfx!

You're absolutely right about new traders, they have to be very careful.

About "too many entry signals". Probably you're right, but at the same time I see that it usually happens when a new trader tries to take any signal he can see on any timeframe and any currency (and now the Dashboard helps him to do that).

What I'm trying to say: Al showed us several different methods (including scalping with the dashboard), he trades M1, M5, M15, H1, 8 currencies, gold etc. and...
I agree, Mike. Iīve said repeatedly:

Until you master the system, you should slow down to H1. When you get to the point where you are totally bored with H1, you move to M15.

I will keep repeating it over and over again. We are here to learn and hopefully some day become professional traders. There is no such thing as a perfect system. We must move one step at a time. I for one, am in no hurry...
Observation is the path to discovery.
  • #4,991
  • Mar 12, 2012 11:03am Mar 12, 2012 11:03am
Quoting Alorente
It is normal that a trader will find fault with a system when he personally cannot win with it. You just have to put his comments in context and turn the page. He feels he has experience, so if he canīt win with this, beginners will have even more trouble...

I feel each of us is capable of determining if a system is workable without help from others.
I will never figure out what makes these guys tick. Overcompensating for some sort of shortcoming I assume.
may you find what you seek and trade what you find
  • #4,992
  • Mar 12, 2012 11:03am Mar 12, 2012 11:03am
looking to short off of 1.3160 pivot

M5
Follow the money --Mark Felt (Deepthroat)
  • #4,993
  • Mar 12, 2012 11:03am Mar 12, 2012 11:03am
Quoting bfis108137
I don't think there is a good system for new traders. With that being said I believe the vast majority of the signals can be filtered out by only taking signals that went far outside the tma (say at least 10 pips) before coming back. I have backtested it using simulator and this is very very reliable even without recovery. The farther outside the better but also you will get less signals. I think a lot of people on here are taking every signal but only posting the winning trades.
it is normal that the system has some bugs .... I do not know what you expect .... the holy grail .... each trejd you get the money ..... ... It is not possible ..... Each system must be combined with certain money's management ... leverage .... and the risk of losing money ... This is forex.... I work over 12 years and every min test the system a month before you bring it to the trading ... It is the practice and so it is .... If someone thinks that the right to obtain a system of earning money the easy way is hugely cheats
  • #4,994
  • Mar 12, 2012 11:09am Mar 12, 2012 11:09am
Forex is determined by the high probability that something will go in our favor .... It does not mean it will go in our favor .... because it uses good leverage and good management of money .... if you have applied the small risks of loss of money and opportunity to defend your account of the losses and to earn money at the end
  • #4,995
  • Mar 12, 2012 11:12am Mar 12, 2012 11:12am
Quoting hubby7
Attachment
When marking divergence it would be wise to remember that cci and other indicators are set to measure the close of the bar by default, so you need to mark the close of the bar and not the high/low of the bar otherwise you will get false signals...something i learned the hard way.

Gez
Seek not to change the world; seek only to change your mind about the world
  • #4,996
  • Mar 12, 2012 11:12am Mar 12, 2012 11:12am
Quoting faxxion
You are right. I have said a couple of times that the trade is technically against the trend. Who knows, I may pay a price for this one, but even the 1H seems over extended. Time will tell.

William
Well, I paid the price. Stopped out -30 pips.
may you find what you seek and trade what you find
  • #4,997
  • Mar 12, 2012 11:14am Mar 12, 2012 11:14am
Quoting Alorente
It is normal that a trader will find fault with a system when he personally cannot win with it. You just have to put his comments in context and turn the page. He feels he has experience, so if he canīt win with this, beginners will have even more trouble...

I feel each of us is capable of determining if a system is workable without help from others.
I agree that traders need to trade the way that suits themselves. I traded the system as given and was simply passing on my observations in what i had hoped would be a constructive way.

As for experience... that is what i feel makes this system work
  • #4,998
  • Edited 11:19am Mar 12, 2012 11:18am | Edited 11:19am
Quoting icarusfx
I agree that traders need to trade the way that suits themselves. I traded the system as given and was simply passing on my observations in what i had hoped would be a constructive way.

As for experience... that is what i feel makes this system work
Thanks for your input. Stick around.
  • #4,999
  • Mar 12, 2012 11:20am Mar 12, 2012 11:20am
Quoting faxxion
I will never figure out what makes these guys tick. Overcompensating for some sort of shortcoming I assume.
please do grow up.



I wish everyone the best trading.... there seems little point posting here anymore.

kind regards
  • #5,000
  • Mar 12, 2012 11:32am Mar 12, 2012 11:32am
Quoting icarusfx
please do grow up.



I wish everyone the best trading.... there seems little point posting here anymore.

kind regards
Icarus,

I am not clever enough to have intended that comment the way you evidently took it. However, I am satisfied with the result.

William
may you find what you seek and trade what you find
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