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Extreme TMA System

  • #6,641
  • Mar 22, 2012 7:29am Mar 22, 2012 7:29am
[quote=lucatony29;5502110]
Quoting dorellino
1) 4) It takes time, pain, .... very little money. Demo trade to learn the system, trade real to learn the pain.
I like this a lot , i lost 4 account and a wife for 2004 -2010, now from 2 year i"m profitable.
should be sharing the system
  • #6,642
  • Mar 22, 2012 7:44am Mar 22, 2012 7:44am
Quoting fxtrader2k7
Hi Al,

Thank you for all your teachings and sharing. This small contribution doesn't even register on the scale compare to what your have given. The sheet is protected to prevent accidental over-writing of the formulas. Enter the required information, print it out and having it beside you as you trade. Shout out if there any errors or bugs.

Cheers
Thanks a lot. I hope to never have to use it.
Observation is the path to discovery.
  • #6,643
  • Mar 22, 2012 7:45am Mar 22, 2012 7:45am
Big Al,

Short on usdcad sounds good?

L.
  • #6,644
  • Mar 22, 2012 7:46am Mar 22, 2012 7:46am
Quoting lbhales
So Al the 15m and 1H tf's indicate longs to me and they are at resistance but the coral and 200ma interplay (123 breathing) show going short. You chose to go short, also against the trix. Meaning your experience is that 123 breathing is the more powerful driver of the next move because of the ebb and flow or wave of trading? Lynn
Not really. I am very busy today and canīt be in front of the computer and I donīt want to miss the fall, so I just will stay in short at this point.
Observation is the path to discovery.
  • #6,645
  • Mar 22, 2012 7:47am Mar 22, 2012 7:47am
fxtrader2k7

I believe the attached Excel reflects how Al uses Recovery. He enters, then reenters at 100 pips drawdown. At 200 pips drawdown he enters a double lot. Fourth entry at 300 pips drawdown he enters at 4 times initial lots size. Fortunately, he says he's never had a trade go this far against him thus far because the technicals were still in place to stay in the trade.

Nice matrix you made for us.

Thanks,

Steve

PS: here's a matrix showing the basics of Al's use of Recovery as I understand it so far:
http://www.forexfactory.com/attachme...1&d=1332419931
Attached File(s)
File Type: xls Extreme TMA Recovery.xls   22 KB | 530 downloads
  • #6,646
  • Mar 22, 2012 7:48am Mar 22, 2012 7:48am
Quoting jaau
Big Al,

Short on usdcad sounds good?

L.
By now, you should know what I think about shorting the Usd...
Observation is the path to discovery.
  • #6,647
  • Mar 22, 2012 7:49am Mar 22, 2012 7:49am
Quoting Alorente
By now, you should know what I think about shorting the Usd...
Hhahahaha!

Just testing if you change your mind!

L.
  • #6,648
  • Mar 22, 2012 7:57am Mar 22, 2012 7:57am
Quoting Bary
Thx for responding Carl.
My broker is ATC brokers. But like I said it works fine on my laptop which I've been using all along. I bought new puter and downloaded all the indi's and they all work except the dashboard. I tried delete/reinstall a few times and can't figure it out yet. Something with the new puter?
One thing I also have to do on the laptop is when I first start MT4 the dashboard is blank, I just change TF and it fills in.
Thx again for all your time and effort.
No need to delete and re-install onto the same chart.

Just press CTRL-I when looking at the chart with the dashboard on it.
Select the !ExtremeTMA dashboard indicator and press EDIT.
Without changing anything, press OK.

That will re-initialize the indicator, and hopefully poke MT4 to continue loading and processing data. You may have to do that several times.

Also, during times when there are few incoming ticks, MT4 will delay the loading of data for the dashboard.

Carl
  • #6,649
  • Mar 22, 2012 7:57am Mar 22, 2012 7:57am
Hi Al,

Deep thanks for your kind heart and willingness to share with all. I have been following and learning from the beginning of the thread, though this is my first post. I am on N.Y. time zone and due to work my time for trading is limited. After hearing you share about potential of EuUsd, i am for first time wondering if it is best to trade longer time frames with trades that may last for months and build positions on pullbacks. Previous mindset was to scalp in morning before work. Was also wondering your thoughts on set and forget strategies, where i may place limit order during the Asian session that may be 50 pips away from the 1 hr TMA line the Asian session, and then go to sleep and manage the trade at NY open and get out or stay in for the rest of the day.

I appreciate you sharing any thoughts about strategy for staying in a trade for few months or longer and building positions, and also about placing limit orders during the asian as I sleep through the London

Thanks again for all you have done.

Ed
  • #6,650
  • Mar 22, 2012 8:12am Mar 22, 2012 8:12am
Quoting Ed777
Hi Al,

Deep thanks for your kind heart and willingness to share with all. I have been following and learning from the beginning of the thread, though this is my first post. I am on N.Y. time zone and due to work my time for trading is limited. After hearing you share about potential of EuUsd, i am for first time wondering if it is best to trade longer time frames with trades that may last for months and build positions on pullbacks. Previous mindset was to scalp in morning before work. Was also wondering your thoughts on set and forget strategies,...
Thanks for your post. I myself trade also for the long term. For example, I have a lont term open positon in EurUsd since last May when I sold at 1.46. Just make sure you do it in a separate account and with very little leverage. I only have 10:1 leverage on my long term positions.

I will soon be opening a long term position on UsdJpy also.

As far as leaving limit orders at night. I have done that too numerous times. Itīs nice to get up in the morning and find that you caught a fish.
Observation is the path to discovery.
  • #6,651
  • Mar 22, 2012 8:18am Mar 22, 2012 8:18am
Quoting stevewide
fxtrader2k7

I believe the attached Excel reflects how Al uses Recovery. He enters, then reenters at 100 pips drawdown. At 200 pips drawdown he enters a double lot. Fourth entry at 300 pips drawdown he enters at 4 times initial lots size. Fortunately, he says he's never had a trade go this far against him thus far because the technicals were still in place to stay in the trade.

Nice matrix you made for us.

Thanks,

Steve

PS: here's a matrix showing the basics of Al's use of Recovery as I understand it so far:
http://www.forexfactory.com/attachme...1&d=1332419931...
Hi Steve,

You are missing one of the 1 lot level. As I understand the system there are 4 levels not counting your original trade (1-1-2-4) and then you go back to level one and repeat the sequence again if necessary. Also, once you reach level 4 or higher, you close the earliest level's trades before you put on that level's trade. Maybe Al can clearify this.
  • #6,652
  • Mar 22, 2012 8:18am Mar 22, 2012 8:18am
Al what do you think about short euraud for long term?
is it good choice?
Thx
  • #6,653
  • Mar 22, 2012 8:21am Mar 22, 2012 8:21am
Quoting fxtrader2k7
Hi Steve,

You are missing one of the 1 lot level. As I understand the system there are 4 levels not counting your original trade (1-1-2-4) and then you go back to level one and repeat the sequence again if necessary. Also, once you reach level 4 or higher, you close the earliest level's trades before you put on that level's trade. Maybe Al can clearify this.
Incorrect. The first 1 is your initial position.
Observation is the path to discovery.
  • #6,654
  • Mar 22, 2012 8:21am Mar 22, 2012 8:21am
Quoting rexfo
Al what do you think about short euraud for long term?
is it good choice?
Thx
I just answered that question.
Observation is the path to discovery.
  • #6,655
  • Mar 22, 2012 8:22am Mar 22, 2012 8:22am
Quoting fxtrader2k7
Hi Steve,

You are missing one of the 1 lot level. As I understand the system there are 4 levels not counting your original trade (1-1-2-4) and then you go back to level one and repeat the sequence again if necessary. Also, once you reach level 4 or higher, you close the earliest level's trades before you put on that level's trade. Maybe Al can clearify this.
Hi,

I think Steve is right. The 1.1.2.4 recovery system includes the initial trade, so the first recovery is 1, the second recovery trade is 2 and the third is 4.
  • #6,656
  • Mar 22, 2012 8:25am Mar 22, 2012 8:25am
Thanks Al for your reply. When you build positions for long term trades lasting many months by adding positions during pullbacks on EurUs and pull backs on USJPY, which time frame is best to use for buidling positions.

Thank you again for all of the time, patience and commitment you have put into this thread

ed
  • #6,657
  • Mar 22, 2012 8:25am Mar 22, 2012 8:25am
Quoting Alorente
Thanks for your post. I myself trade also for the long term. For example, I have a lont term open positon in EurUsd since last May when I sold at 1.46. Just make sure you do it in a separate account and with very little leverage. I only have 10:1 leverage on my long term positions.

I will soon be opening a long term position on UsdJpy also.

As far as leaving limit orders at night. I have done that too numerous times. Itīs nice to get up in the morning and find that you caught a fish.
Al:
Do you ever set a TP with your limit orders before bedtime? Last night I set a tp at S1 for 45 pips or so profit from a limit order that got hit. Just wondered when you let it run and when you set a tp on limit orders...picking your brain too much!

Thanks,

Steve
  • #6,658
  • Mar 22, 2012 8:28am Mar 22, 2012 8:28am
Quoting Ed777
Thanks Al for your reply. When you build positions for long term trades lasting many months by adding positions during pullbacks on EurUs and pull backs on USJPY, which time frame is best to use for buidling positions.

Thank you again for all of the time, patience and commitment you have put into this thread

ed
It depends on how much time you have to stare at the computer. If you have time, M15 is fine, if not H4 will do.
Observation is the path to discovery.
  • #6,659
  • Mar 22, 2012 8:29am Mar 22, 2012 8:29am
Quoting stevewide
Al:
Do you ever set a TP with your limit orders before bedtime? Last night I set a tp at S1 for 45 pips or so profit from a limit order that got hit. Just wondered when you let it run and when you set a tp on limit orders...picking your brain too much!

Thanks,

Steve
If I enter an order at night, it is with at least 100 pips in mind, so I donīt enter a TP.
Observation is the path to discovery.
  • #6,660
  • Mar 22, 2012 8:30am Mar 22, 2012 8:30am
I believe we have now started our second leg down on EU and GU.
Observation is the path to discovery.
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