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Extreme TMA System

  • #6,061
  • Mar 20, 2012 7:23am Mar 20, 2012 7:23am
Quoting Olarion1975
Al, could you share your Cavemanager settings please?

Thank you.
I donīt have fixed settings. I vary them depending on the target and the pair. I set the inputs for each pair when I activate the EA. But in general terms:

1- No Loss After Pips: 20 to 40 depending on pair ATR.
2- Trailing Stop: 30 to 60 depending on pair ATR.
3- Target Price. The band level that I am targeting (H1 or H4).

Sometimes I will set take profit to 3 batches at three different levels, but most of the time I keep it simple.
Observation is the path to discovery.
  • #6,062
  • Mar 20, 2012 7:27am Mar 20, 2012 7:27am
Quoting Alorente
I do keep my TF at M15 because that way you see the full picture of the 3 TMAs working in tandem.
Also important, I zoom out all the way for a birds eye view. I find it important to be able to watch all three TMAs on screen at the same time to get a good feel for what they are doing in relation to each other.
Observation is the path to discovery.
  • #6,063
  • Mar 20, 2012 7:27am Mar 20, 2012 7:27am
Quoting jain028
hello sir, thx for sharing your knowledge and experience with us. I have a problem regarding !Extreme tma V22( dashboard) indicator, when i load on the chart, it becomes blank,ie, showing no quotient price. what should i do to activate it.thx
It can take a little bit to load. I had the same issue and then I set debug to "true" and everything appeared.

Hope this helps,

Gina
  • #6,064
  • Mar 20, 2012 7:27am Mar 20, 2012 7:27am
Hi Al , been following the thread.
I am impressed to note the patience and assistance that you offer with your replies.
Personally I would not habe the time or patience.
Anyway , well done , I am sure many of your followers are learning much from your comments.
  • #6,065
  • Mar 20, 2012 7:28am Mar 20, 2012 7:28am
Quoting Alorente
Thatīs good. I have to admit that, now with MTF TMA, I am also moving more to H1 and H4. I am not doing anything on M5 and M15 at this time. It is more relaxing and it gives me more time for chart analysis in the higher time frames (D1 and W1) which is important to see whatīs coming in the days ahead.
Me too, I think the interplay of the H1 and H4 is a fantastic tool. Kudos again to the two people on here (sorry can't remember who it was) who suggested the idea of layering multiple TMA's together. I'm loving the way the price plays with the bands.

I'm still struggling with the psychology of recovery trades, but I'm sure that will come in time.

Would be interesting to hear how many people are using recovery and how many are using traditional stops, and how they are finding it, what position size they are using (based on say, % of account per 100 pips), etc.

My position size works out roughly 1.3% per 100 pips, so I need to drag in about 200-300 pips per day to hit the 3 to 4% daily profit that Al suggests as a target. (I'm a little below that at the moment! Ha ha!) It's tempting to push up the % a little, but I'm scared of multiple trades going into recovery and blowing my account. So I'll stick where I am for now.

PB
  • #6,066
  • Mar 20, 2012 7:36am Mar 20, 2012 7:36am
Quoting pixelboy
Me too, I think the interplay of the H1 and H4 is a fantastic tool. Kudos again to the two people on here (sorry can't remember who it was) who suggested the idea of layering multiple TMA's together. I'm loving the way the price plays with the bands.

I'm still struggling with the psychology of recovery trades, but I'm sure that will come in time.

Would be interesting to hear how many people are using recovery and how many are using traditional stops, and how they are finding it, what position size they are using (based on say, % of account per...
The two members who opened our eyes to MTF TMA are Olarion1975 and Argonod.

Try diversifying your positions with 5 or 6 contrary pairs if they are in good positions relative to the H1 and H4 bands. Not all will climb at the same time, but it will protect your account from large drawdown and it will allow you to trade larger positions.
Observation is the path to discovery.
  • #6,067
  • Mar 20, 2012 7:36am Mar 20, 2012 7:36am
Quoting Alorente
Jikkie, in the not too distant future we will have a more condensed thread with the members who really are committed to this system and to learning technical analysis, without the interference of others who have little to contribute and no interest in learning. For now, we will continue as we are for a while longer.

Reading between the lines looks like you are moving yourself to a private forum? Members who are really comitted. You mean those that will commit to a monthly fee?

Time will tell and I will be right at your heels chomping to get into the forum.

Cheers
Bluesteele
Master your Mind,,,Master the Market
  • #6,068
  • Mar 20, 2012 7:37am Mar 20, 2012 7:37am
Quoting Alorente
The two members who opened our eyes to MTF TMA are Olarion1975 and Argonod.

Try diversifying your positions with 5 or 6 contrary pairs if they are in good positions relative to the H1 and H4 bands. Not all will climb at the same time, but it will protect your account from large drawdown and it will allow you to trade larger positions.
Failed to mention Altoronto who gave inspiration to Olarion1975 to make his comments.
Observation is the path to discovery.
  • #6,069
  • Mar 20, 2012 7:39am Mar 20, 2012 7:39am
Quoting Alorente
Under 20% return a month is not an acceptable risk to take. Trading is risky. You need a minimum of 20% per month to justify that risk, or sooner or later you will blow your account or end up in trouble.



Can you explain this Al ?? As I know many successful traders who average much much less than this.
Master your Mind,,,Master the Market
  • #6,070
  • Mar 20, 2012 7:40am Mar 20, 2012 7:40am
Quoting bluesteele
Reading between the lines looks like you are moving yourself to a private forum? Members who are really comitted. You mean those that will commit to a monthly fee?

Time will tell and I will be right at your heels chomping to get into the forum.

Cheers
Bluesteele
No monthly fee. Why does society always have to equate anything anyone does to money? I guess thatīs the world we live in nowadays.

Anyway, I will decide who is a positive contributor and who is just noise, at that particular point in time.
Observation is the path to discovery.
  • #6,071
  • Mar 20, 2012 7:50am Mar 20, 2012 7:50am
Quoting bluesteele
Can you explain this Al ?? As I know many successful traders who average much much less than this.
I stand by the 20% cutoff. If you cannot regularly make 20% on your account on a monthly basis after a couple of years of trading, the return you are making does not justify the large risk involved in Forex trading. That to me should be the first stage everyone should aim at reaching. An average of 1% a day. With experience 3% to 5% a day is very achievable.

The key is not making the return, which is not that difficult. The real key is to not lose equity on off days. Learning to be selective on your trades is as important as learning to trade well. That requires enhancing your patience level. You donīt have to be in a trade every single minute. It is fun to hide in the bushes waiting for the perfect trade to get right under your gun sights. A perfect trade like a perfect hunt, requires patience and knowing full well, exactly what you are looking for before you jump on it.
Observation is the path to discovery.
  • #6,072
  • Mar 20, 2012 7:51am Mar 20, 2012 7:51am
Dear Alorente! You unique have helped me to understand a rhythm of the market! 3 ТМА is a force! Huge to you thanks!
  • #6,073
  • Mar 20, 2012 7:52am Mar 20, 2012 7:52am
Quoting bluesteele
Reading between the lines looks like you are moving yourself to a private forum? Members who are really comitted. You mean those that will commit to a monthly fee?

Time will tell and I will be right at your heels chomping to get into the forum.

Cheers
Bluesteele
I know it's often sensible to be a cynic, but nobody has mentioned a monthly fee.

I see there have been a few negative comments on this thread recently. It's a shame as up until now it has been a really positive, supportive environment. I hope that the people making these comments are doing it because they are genuinely trying to look out for the less experienced on here and not because they are just negative, bitter and angry.

I've said it before and I'll say it again: I believe positivity is one of the fundamental traits of a successful trader. Without it, everything else you need in this business such as determination, stamina, desire, energy and focus are almost impossible to achieve.

A lot of people trawl these forums posting their negative comments, not because they have genuine grievances with the system (i.e. they have extensively tested it and found fundamental flaws), but because they are angry. They are angry that they see other people doing well, they are angry that they can't understand and follow the same path. They are angry with themselves.

The way out of this is positivity. Look for the positives and you will be more successful at trading and at everything else in life.

If you would like more advice, PM me your credit card and we can arrange a one-to-one therapy session ;-)

PB
  • #6,074
  • Mar 20, 2012 7:54am Mar 20, 2012 7:54am
Quoting Alorente
I stand by the 20% cutoff. If you cannot regularly make 20% on your account on a monthly basis after a couple of years of trading, the return you are making does not justify the large risk involved in Forex trading. That to me should be the first stage everyone should aim at reaching. An average of 1% a day. With experience 3% to 5% a day is very achievable.

The key is not making the return, which is not that difficult. The real key is to not lose equity on off days. Learning to be selective on your trades is as important as learning to trade well....
Another critical point:

Establish a maximum for your account and anything you make above that, pull out and invest in other safe areas. The larger the account balance, the larger the stress and the worse your results will get. I like to pull out 90% to 95% of profits and leave 5% to 10% to increase the account balance. That makes the number climb gradually and you avoid getting psyched out by the size of it. After all, whatīs the hurry?
Observation is the path to discovery.
  • #6,075
  • Mar 20, 2012 7:55am Mar 20, 2012 7:55am
Quoting bluesteele
Can you explain this Al ?? As I know many successful traders who average much much less than this.
Hey Al,

Don't take the bait from this Ar!% wipe.
  • #6,076
  • Mar 20, 2012 7:58am Mar 20, 2012 7:58am
Quoting Alorente
Another critical point:

Establish a maximum for your account and anything you make above that, pull out and invest in other safe areas. The larger the account balance, the larger the stress and the worse your results will get. I like to pull out 90% to 95% of profits and leave 5% to 10% to increase the account balance. That makes the number climb gradually and you avoid getting psyched out by the size of it. After all, whatīs the hurry?
very sensible advice!
  • #6,077
  • Mar 20, 2012 7:59am Mar 20, 2012 7:59am
Quoting pixelboy
I know it's often sensible to be a cynic, but nobody has mentioned a monthly fee.

I see there have been a few negative comments on this thread recently. It's a shame as up until now it has been a really positive, supportive environment. I hope that the people making these comments are doing it because they are genuinely trying to look out for the less experienced on here and not because they are just negative, bitter and angry.

I've said it before and I'll say it again: I believe positivity is one of the fundamental traits of a successful trader....
What a fantastic post, Pixelboy. It basically says it all in a few words.
Observation is the path to discovery.
  • #6,078
  • Mar 20, 2012 8:01am Mar 20, 2012 8:01am
al ,were i close my trades on 200 sma or when faster trix change its color or the slower one to change its color? thx
  • #6,079
  • Mar 20, 2012 8:02am Mar 20, 2012 8:02am
Quoting maudur
Hi, I've the same problem. In the experts tab show "EURUSD - ZERO DIVIDED". Is a bug.

Hope the author correct it.
It is not a bug in the indicator. As I have said before, a ZERO DIVIDE error means YOUR MT4 does not have enough data to perform the necessary calculations for the indicator.

Which usually means your MT4 needs to load more pair data.

Carl
  • #6,080
  • Mar 20, 2012 8:04am Mar 20, 2012 8:04am
Quoting jain028
al ,were i close my trades on 200 sma or when faster trix change its color or the slower one to change its color? thx
Fast trix color change. The thin line.
Observation is the path to discovery.
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