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Extreme TMA System

  • #7,341
  • Mar 27, 2012 3:56am Mar 27, 2012 3:56am
Quoting tnavi
http://i40.tinypic.com/2mye05u.jpg

short again in eurusd.

SL in 1.33731 and TP 1.32761

regards
Good luck, risky though
  • #7,342
  • Mar 27, 2012 3:58am Mar 27, 2012 3:58am
What worries me about reading some of the recent posts on here is that :-

some people are trading with money they can't afford to lose

some people are trading without a proper money management strategy or understanding of one

some people have little or no knowledge of trading or charting
  • #7,343
  • Mar 27, 2012 4:00am Mar 27, 2012 4:00am
Quoting Alorente
The rules on Post 1 are thought out for a ranging system, but they can easily be adapted to a trending one. If you all want, and if you think it will not confuse matters, I can post Trending rules on Post 1 that will be simple to follow.
Al, I can't speak for the other traders, but I'd really appreciate if you post the Trending Rules!

And you probably can use a different color (for example blue) for the Trending Rules, so it wouldn't be confusing IMHO.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #7,344
  • Mar 27, 2012 4:00am Mar 27, 2012 4:00am
Quoting Alorente
I remember that at the beginning you were having problems mentally adapting to recovery. Iīm glad you found the trade size level that has made it confortable for you.

The Extreme TMA system is definitely a great Range system, but it can also be an excellent trend system. After all, it clearly tells you when the market is "Ranging", "Buy Only" or "Sell Only". The rules on Post 1 are thought out for a ranging system, but they can easily be adapted to a trending one. If you all want, and if you think it will not confuse matters, I can post Trending...
Yes AL. I would like to see your trend following rules. Thanks
Barry
  • #7,345
  • Mar 27, 2012 4:10am Mar 27, 2012 4:10am
People have been hitting red on this recovery. I think we should try and avoid the recovery method and add PA to the system inorder to avoid any catastrophic earthquake on peoples account. The best is to avoid recovery method and find alternative solution to scalp pips based on PA
  • #7,346
  • Mar 27, 2012 4:21am Mar 27, 2012 4:21am
Quoting handy148
What worries me about reading some of the recent posts on here is that :-

some people are trading with money they can't afford to lose

some people are trading without a proper money management strategy or understanding of one

some people have little or no knowledge of trading or charting
Handy, the statements you just made will always be true to some extent. Some people will always trade with money they canīt afford to lose and some people gamble in a casino and at poker money they canīt afford to lose. What we are trying to do is educate people to do it as professionally as they can. If we can help one individual to accomplish that, then this whole thread will have been worth it.
Observation is the path to discovery.
  • #7,347
  • Mar 27, 2012 4:26am Mar 27, 2012 4:26am
out and reentry selling

MY telegram channel: https://t.me/https://t.me/tnavieurusd
  • #7,348
  • Mar 27, 2012 4:27am Mar 27, 2012 4:27am
Al - totally agree with you.

Trading is not a "get rich quick scheme", particularly in forex.

You are doing a great job in trying to educate people and what sets this thread apart from almost every other is that you are prepared to listen to comments and sugestions and take them on board if appropriate. Most threads here have strict rules and any idea of deviation results in a ban.
  • #7,349
  • Mar 27, 2012 4:32am Mar 27, 2012 4:32am
A quick question for the more experienced in this method:

If the H1 slope is over 50, but the M15 slope is showing potential for either direction, have people had any positive results in trading against the H1 slope for a quick scalp of 20 pips (Just a random number that would be satisfactory)?
In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #7,350
  • Mar 27, 2012 4:38am Mar 27, 2012 4:38am
Quoting By_Tor2114
A quick question for the more experienced in this method:

If the H1 slope is over 50, but the M15 slope is showing potential for either direction, have people had any positive results in trading against the H1 slope for a quick scalp of 20 pips (Just a random number that would be satisfactory)?
Remember not to fight the trend. When the market is on up trend, it is not advisable to enter from upper band. It is better to enter from lower band of H1
  • #7,351
  • Mar 27, 2012 4:45am Mar 27, 2012 4:45am
Quoting P.Dean
Hi Bob,
When you talk about increasing your range to increase the odds of success it also means that sl's hits are way bigger than profit taking.. so with that said and if my observation stands correct.. how many wins give and take is needed to recover one loss? and what % of success ratio a solid system is needed behind this kind of MM?

Thanks for valued contribution in this forum.

regards,
Dean
Since I have posted my 10.0 thread I have been hitting above 77% win rate. My experience has been I am profitable as long as i am above 65% win rate. So I have a decent margin of error. My goal is to hit 10% increase of my account every month and I have done that several months but after 8 months it is closer to 7.5% as an average. So if I finish strong over the next 4 months I may hit my goal. Either way I am profitable. The lower figure has more to do with the time off for the holidays for December and Jan. I am closing in on doubling my original investment that I started with in Aug. I have had 15 trades I have closed that were bigger than 1% and one near 2% as losers. The rest were smaller.

This is how I look at recovery. Whether you take a SL or use a second or third trade to break even you have to recover. For example if you take a 100 pip SL you must have a 100 pip winner or combination thereof to fully recover that SL. If I counter the trade with a second one I only need 50 pips to overcome that losing trade. The 50 pip winner overcomes the 50 pip loser. I see it as half the work. My stats show that my average loss is 145 pips and my average win is almost 40 pips. So that means I need about 3.5 winning trades to cover that one loss. In reality I try to cover every loss with one or two winners but that figure is looks higher because sometimes I just eat a loss. It is that occasional eating a loss that bothers people the most. I dont know how to explain that other than, there is no such thing as being 100% correct on a trade or on a recovery also. The 1% rule will keep you out of trouble. Al has a different rule than me but he doesnt trade 20 currencies at once like I do. So you have to find what you are comfortable with.

So in 2400 trades I have hit SL 1% or bigger 15 times or .0062% I like those odds. Remember also I trade Daily and 4H charts and you have to give them more room than 15M charts. If I was trading Al's method (I cant because of my job) I would probably use higher lot sizes and a much smaller range like he does. I dont know if my recovery method would work, like I use it with Al's system. This is more of a scalping system so you are in and out of the market quickly. My average trade time is 4.3 days. I doubt if Al holds any position that long but you will have to ask him.
  • #7,352
  • Mar 27, 2012 4:53am Mar 27, 2012 4:53am
Quoting Favorite
That means that to make 1% profit you have to make 250 pips, right?

Of course, every trader has his own MM, but in my opinion it is a little too much...

How many pips do you have to make to get 5% per week? 1,250 pips? Is it possible? I don't think so!


"A lovely stress-free life" sounds great, but our main purpose here is to make money.

Just my two cents.
I agree that we are here to make money, but I also believe that greed and unreasonable expectations are the key reasons why 95% of forex traders lose rather than make money. If you break even in this game you are doing better than most. I've traded live for 12 months (thankfully only for pennies) and struggled with losses, had huge runs of small wins, then a large loss wiping it out etc. Most of you have been there. I'm at the point now where I can make a little, recover losses and wallow around at break-even. One thing I do know is that every time I get greedy, I lose.

Whether 1250 pips a week is possible depends on how much the markets move. Maybe a slow week will not yield that many pips. But to make it clear, I'm not just trading the EURUSD with this system. I'm watching 16 pairs, so if I trade half of them in the week, 150 pips per pair will give me 5%. Is 150 pips per week per pair unreasonable? To be absolutely honest, at the moment, I'd be happy to break even + a few pips with this system. Why? Because I've only been trading it a couple of weeks and I don't think you can get a real feel for a system unless you have ridden it for many months through different market phases.

I also think with this kind of trading, it becomes more like investing. My savings account currently pays out 3.5% per YEAR, so 5% per week, over say, 40 trading weeks per year is a nice non-compounded 200% return per annum. I'd be happy with half that! NB says he averages 5% to 10% per month which again, is a nice stress free investment income.

Remember that there's no rule to say you only have to trade one system. I've been trading this at the same time as the boring old system that I trade day in, day out, which is a super-fast, in-and-out-in-30-minutes system with much higher risk/reward % per trade.

The nice thing is that I can use the same M15 charts, so I can trade both side by side. Also, my other system has me glued to the charts for hours waiting for a set-up and when it comes I have maybe 10 seconds to enter the trade, otherwise it's gone. It's a tiny window of opportunity, whereas with this system I can enter positions within a much wider time frame and I rarely feel like I've 'missed' the opportunity.

Perhaps after months of practicing this system I would feel confident enough to increase the position size and have a higher risk/reward. But until then, I'm going to keep the position size and the stress levels low.

PB
  • #7,353
  • Mar 27, 2012 4:57am Mar 27, 2012 4:57am
In on the vertical red line. Anyone else with me?
Attached Image (click to enlarge)
Click to Enlarge Name: audusd.gif Size: 33 KB
In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #7,354
  • Mar 27, 2012 4:59am Mar 27, 2012 4:59am
Quoting By_Tor2114
In on the vertical red line. Anyone else with me?
I'm with you
  • #7,355
  • Mar 27, 2012 5:01am Mar 27, 2012 5:01am
Quoting scott-ibm
dear Mr.nanningbob, Mr.Alfredo :


as previous post, saying that " we cannot fight strong fundamental moves......", my question about EURUSD, GBPUSD, yesterday move to north, does we meet a strong fundamental move now after Fed chairman speaking at US ??

or we need patience, wait for further developing of market action ??

what a dilemma scene !

SCOTT
I want to differentiate between fundamentals and a news story. The market moved on a news story and may run for a couple of hours to a day or two. That is not a fundamental. A fundamental will move the market in one direction for weeks or even months at a time. Interest rate changes are one, government policy is another (bank of Switzerland as an example). I basically ignore news stories. They will drive you nuts. They bounce price up and down suddenly and then retrace back to where they were a day or two later.

My opinion on the Euro is there is too much negativity possible out there for it to appreciate very much. The Greece thing isnt going away and Portugal, Spain, Italy, Ireland could come into play at any time. Then French banks would be in some real serious trouble. I dont see anything in the near future that could drive it way up price wise. There will always be some happy news but I see it ranging for now. High 1.20's low to mid 1.30's Until Europe finds some other way to solve its credit crunch other than borrowing more money or putting more money in reserve so it can be borrowed I dont see it going higher. But i could be wrong, Forex is a funny thing.
  • #7,356
  • Mar 27, 2012 5:05am Mar 27, 2012 5:05am
Quoting nanningbob
Since I have posted my 10.0 thread I have been hitting above 77% win rate. My experience has been I am profitable as long as i am above 65% win rate. So I have a decent margin of error. My goal is to hit 10% increase of my account every month and I have done that several months but after 8 months it is closer to 7.5% as an average. So if I finish strong over the next 4 months I may hit my goal. Either way I am profitable. The lower figure has more to do with the time off for the holidays for December and Jan. I am closing in on doubling my original...
thanks for the reply and your pure explanation.

3.5 trades to recover a loss at 77% with your skill is doable. I was under impression that number to be minimum above 5. in that case i think it would have been hard to be profitable.
to me the end result is to be making money otherwise is just wasting time.

to add bob, one thing that still bothers me is the fact that it need market move dependability, meaning the need for big moves in order to make up for such losses.. does that worry you too or how do you handle this?

thanks again for the reply.
  • #7,357
  • Mar 27, 2012 5:05am Mar 27, 2012 5:05am
Quoting pixelboy
I agree that we are here to make money, but I also believe that greed and unreasonable expectations are the key reasons why 95% of forex traders lose rather than make money. If you break even in this game you are doing better than most. I've traded live for 12 months (thankfully only for pennies) and struggled with losses, had huge runs of small wins, then a large loss wiping it out etc. Most of you have been there. I'm at the point now where I can make a little, recover losses and wallow around at break-even. One thing I do know is that every time...
I used to trade like that. Got headaches from looking at the screen for hours. I now trade daily charts and set up my trades once or twice a day and walk a way. You understand the development time it takes to become a good trader. Good luck.
  • #7,358
  • Mar 27, 2012 5:06am Mar 27, 2012 5:06am
Quoting Favorite
Al, I can't speak for the other traders, but I'd really appreciate if you post the Trending Rules!

And you probably can use a different color (for example blue) for the Trending Rules, so it wouldn't be confusing IMHO.
I have added the Trend Exit Rule to the system on Post 1, and made the normal Exit Rules, Ranging Exit Rules. I believe we now have rules for all types of markets and the Extreme TMA system can now be your best friend at all times.
Observation is the path to discovery.
  • #7,359
  • Mar 27, 2012 5:09am Mar 27, 2012 5:09am
Quoting By_Tor2114
A quick question for the more experienced in this method:

If the H1 slope is over 50, but the M15 slope is showing potential for either direction, have people had any positive results in trading against the H1 slope for a quick scalp of 20 pips (Just a random number that would be satisfactory)?
Definitely not a good idea. If you are trading the M15 channel, you should do it only in the direction signaled by the H1 Slope value or simply stay in the Trend with our new Trend Rule.
Observation is the path to discovery.
  • #7,360
  • Mar 27, 2012 5:10am Mar 27, 2012 5:10am
Good afternoon! Has found in a network the Internet the indicator, forces of currencies, Currency Power Meter, its indications are how much true? What opinions?
Attached File(s)
File Type: rar Currency Power Meter.rar   14 KB | 544 downloads
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