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Extreme TMA System

  • #8,041
  • Apr 3, 2012 2:27pm Apr 3, 2012 2:27pm
Quoting gbryant20
Hello Everyone,
First of all I would like to say a HUGE thank you to this thread and system. I would like to know if someone could tell me how to place a line that runs through the middle of the bands? I am looking to use this as a place to tp on part of my position and it would be easier than having to recalculate after the close of each bar. Thank you for your help!
go to indicator, extreme tmaline, inputs show centre line to true
A good trader follows his rules, but great trader knows when to break them
  • #8,042
  • Apr 3, 2012 2:29pm Apr 3, 2012 2:29pm
Quoting gbryant20
Hello Everyone,
First of all I would like to say a HUGE thank you to this thread and system. I would like to know if someone could tell me how to place a line that runs through the middle of the bands? I am looking to use this as a place to tp on part of my position and it would be easier than having to recalculate after the close of each bar. Thank you for your help!

Hello GBryant,

Just change the 'show center line' to 'true' in your 'Extreme TMA Line' indicator. Your template has 3. Make sure you change the one with 'current' for timeframe.

William
may you find what you seek and trade what you find
  • #8,043
  • Apr 3, 2012 2:32pm Apr 3, 2012 2:32pm
Quoting imbonitore
eur usd 26 mart.jpg
Quoting LuckyLurker
same. 1.33207
last weeks order, target hit. 1.32188
USD Est Non Mortuus
  • #8,044
  • Apr 3, 2012 2:33pm Apr 3, 2012 2:33pm
Thank you for the prompt reply that helps TONS! Best of luck to you all and I appreciate the help.
  • #8,045
  • Apr 3, 2012 2:39pm Apr 3, 2012 2:39pm
Quoting grechmar
Feel bad for having missed that, could have gone both ways i guess. Al, do you reckon this move will contniue to 4 hr band or do we have a day of retracement tomorrow?
I feel this is the start of a test of 1.26. There will be some pullbacks, but overall, the back of the bulls has been broken.
Observation is the path to discovery.
  • #8,046
  • Apr 3, 2012 2:40pm Apr 3, 2012 2:40pm
Quoting grechmar
If QE is nt being considered a retracement would'nt be unreasonable.
Exactly. That was the only card the Bulls had. It´s gone now.
Observation is the path to discovery.
  • #8,047
  • Apr 3, 2012 2:40pm Apr 3, 2012 2:40pm
Quoting grechmar
If QE is nt being considered a retracement would'nt be unreasonable.
true, might retrace a little but i think will go south again, missed the first bus will try to catch the next one,
A good trader follows his rules, but great trader knows when to break them
  • #8,048
  • Apr 3, 2012 2:43pm Apr 3, 2012 2:43pm
This guy said the same thing.

http://www.winnersedgetrading.com/breakout-trade-setup/
Follow me to the Promised Land
  • #8,049
  • Apr 3, 2012 2:44pm Apr 3, 2012 2:44pm
Quoting Alorente
Exactly. That was the only card the Bulls had. It´s gone now.
good, hopefully i ll make up for this lost opportunity over the next few days. al, dou you personally suggest sclaping retracement on 5M or better not to?
  • #8,050
  • Apr 3, 2012 2:46pm Apr 3, 2012 2:46pm
I expect we may get a small bounce after hitting the Head & Shoulders neckline (Blue Line). After that the neckline should be broken and we should head for 1.26, test of the bottom. I believe that bottom will also be broken. As I have said several times earlier, I expect 1.17 by mid summer.

All of this will not be in a straight line, but I expect it to happen nonetheless, that´s why I have been building a large short position in both EU and GU for the past month.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd m5.jpg Size: 124 KB
Observation is the path to discovery.
  • #8,051
  • Apr 3, 2012 2:49pm Apr 3, 2012 2:49pm
Quoting grechmar
good, hopefully i ll make up for this lost opportunity over the next few days. al, dou you personally suggest sclaping retracement on 5M or better not to?
No. I would just continue getting in on all short opportunities with the M15 TF.
Observation is the path to discovery.
  • #8,052
  • Apr 3, 2012 3:04pm Apr 3, 2012 3:04pm
Tornado hit Dallas and tremendous damage.
http://usnews.msnbc.msn.com/_news/20...outh-of-dallas
Follow me to the Promised Land
  • #8,053
  • Apr 3, 2012 3:17pm Apr 3, 2012 3:17pm
Quoting xlitang
Tornado hit Dallas and tremendous damage.
http://usnews.msnbc.msn.com/_news/20...outh-of-dallas
Wow that is unbelieveable. Tractor Trailers hurled thru air like they weighed nothing. A lot of damage. My brother just moved from there to Santa Fe, NM.
Sure am glad. A lot of damage - we will pray no loss of life. Tom
  • #8,054
  • Apr 3, 2012 3:21pm Apr 3, 2012 3:21pm
Quoting Alorente
No. I would just continue getting in on all short opportunities with the M15 TF.
Al - how do you use the Extreme TMA & THVTrix to get in on the pullbacks? I've been a little successful here-n-there using the 15M middle TMA line but not sure how to incorporate Trix.

Thanks for your time and help!!

Gina
  • #8,055
  • Apr 3, 2012 3:53pm Apr 3, 2012 3:53pm
Quoting slowpokeyjoe
Al - how do you use the Extreme TMA & THVTrix to get in on the pullbacks? I've been a little successful here-n-there using the 15M middle TMA line but not sure how to incorporate Trix.

Thanks for your time and help!!

Gina
On pullbacks is quite easy. Just get in when Fast Trix turns red again.
Observation is the path to discovery.
  • #8,056
  • Apr 3, 2012 3:55pm Apr 3, 2012 3:55pm
hii guys!

im short in usdchf 15 min...

http://i39.tinypic.com/35jjdw6.jpg

TP 0.90501

regards!

P.D:
i have closed eurjpy long ope with +42 pips.
MY telegram channel: https://t.me/https://t.me/tnavieurusd
  • #8,057
  • Apr 3, 2012 4:06pm Apr 3, 2012 4:06pm
Quoting tnavi
hii guys!

im short in usdchf 15 min...

http://i39.tinypic.com/35jjdw6.jpg

TP 0.90501

regards!

P.D:
i have closed eurjpy long ope with +42 pips.
You are doing some FANTASTIC trading but I would be careful on this one. Dollar is taking a rest but should resume upward movement soon. Just be careful and maby take less than you are used too. It may not react the way we hope. Tom
  • #8,058
  • Apr 3, 2012 5:31pm Apr 3, 2012 5:31pm
Quoting tomthepoppop
You are doing some FANTASTIC trading but I would be careful on this one. Dollar is taking a rest but should resume upward movement soon. Just be careful and maby take less than you are used too. It may not react the way we hope. Tom
Amen to that, would reconsider going against usd.
  • #8,059
  • Edited 1:42am Apr 4, 2012 12:35am | Edited 1:42am
Money Management: The Best Of Both Worlds:

Hello Everyone,

On March 26, we had a lively debate regarding Money Management. My request was a discussion for the possibility of an alternative to using Recovery. My feelings were then, and still are, that for those of us who trade large enough to make our living from a limited amount of resources, we cannot afford draw downs of hundreds of pips.

First Disclaimer: Before I continue, please let me make clear that this idea is in no way meant to compete with Alfredo’s trade management style, Recovery. Alfredo said in his first post that this forum is to be “a thriving laboratory of ideas that will make each of us, each day, a little better trader than we were.” This is my contribution. I do not have the technical abilities of Crodzilla, Shah and Paradox nor do I possess the fundamental knowledge of Alfredo. I do not want controversy. I post this so maybe someone else can benefit as I have.

After that discussion on March 26, I had countless PM’s of traders with the same frustration. One of them was from Mike or ‘Favorite’ as he is known here. He reminded me of a money management strategy that he had outlined very early in this thread. The strategy is called ‘Locking’.

If you would like to go back and read his thoughts, they start on page 48, post 719.

Back then I was still trying to wrap my head around all of the information that Alfredo was giving us and, to be honest, I did not pay a lot of attention to Mike’s posts.

This time, though, I approached this idea of ‘Locking’ with the question: How can I adapt this strategy to my style of trading?

Second Disclaimer: For the rest of this example, I will be talking about a hypothetical account of $10,000, a hypothetical trade where the swing high/low is 10 pips from the entry price, a hypothetical trade of 1 full lot and hypothetical pair where each pip movement is equal to $10. Real life varies. Everyone will have to use discretion and make these calculations on a trade by trade basis. This is simply an exercise.

To understand how I approach ‘Locking’, you first have to understand how I approach trading. Here it is in its simplest form:

All of us look for trend reversals no matter what time frame we trade. We look for a point where we believe that price has gone down as far as it will go, at least for the near future, and then we go long. The price we chose to trade at is what we believed to be support. Or, conversely, we look for a point where we believe that price has gone as far up as it will go, at least for the near future, and then we go short. The price we chose to trade at is what we believed to be resistance.

The Extreme TMA system does an excellent job of identifying short term trend reversals in individual timeframes. This, combined with only trading in the direction of the time frame one higher, puts the odds considerably on our side.

But no system is right 100% of the time. And how you manage your draw downs can be, and often is, the difference between being a profitable trader and losing.

So, the ultimate question: Stop Loss or Recovery? Stop loss strategy insures that you will never be in that ‘death trade’ that spirals downward. However, you may very well be stopped out of trades that, if you just gave them a little room to breathe, would have been valid. On the other hand, if you use a 100 pip stop loss and then Recovery you will never be taken out of a valid trade. However, you may have a substantial draw down that limits your ability to trade normally until it is closed.

Now, let’s go back to the hypothetical trade and my definition of trading. Let’s say that, using the Extreme TMA system, I have noticed what I believe to be an opportunity to go short. The price is extended well beyond the bands, HA candle is red, Trix crossed…everything looks perfect. Well then, I have just decided that the last swing high is resistance. That is the only reason I would take the trade. If I do not believe that, I should not be trading at this point. It is 10 pips away. That is where I would normally put my stop loss.

However….

What is ‘Locking’? Simply put, ‘Locking’ is using a hedge instead of a stop loss. In the above scenario, if price goes beyond 10 pips, then I was wrong about resistance. In the strictest sense of the word, this trade is no longer technically valid. If I sell, I lose 10 pips or $100.00. If I ‘Lock’ I have not lost anything. I was simply wrong about that signal. Now price can move 1000 pips against me. It does not matter. I have a fully hedged position (this will work with brokers who do not allow hedging but you must have 2 seperate accounts). All I have to do is wait for the next valid Extreme TMA signal for this pair, or another time that I am comfortable, to ‘unlock' the trade. If it is just a spike, I may unlock the trade in 20 pips. If it is a continuation, I may have to wait 200 pips, but I am still in the trade. I am in the trade without riding 50, 75, 100 pips against me unprotected. This allows me to trade larger and still stay in the trade. Also, it allows me to profit from either extreme. I can unlock for a short trade or a long trade.

How do you ‘Unlock’ a trade? Simple. You wait for a strong signal that you are comfortable with. To ‘unlock’ if you want to go long, sell your short. To ‘unlock’ if you want to go short, sell your long. Then start the whole process over. Set a hedge position above/below the previous swing high/low. If you are right this time, you make back your 10 pips plus a profit. If you are wrong, now you have a ‘locked’ position of -20 pips. My personal choice is that if I am wrong, I will try it one more time. If I am wrong 3 times in a row on the same pair, I probably deserve to lose my money.

Per our hypothetical example, even if I ultimately get stopped out of the trade, I have only lost 30 pips. If I am trading 1 full lot, that is only $300.00 or 3% of my account value. I was not taken out because of a spike and I did not have to endure draw down until conditions eventually went in my favor. I stayed in control of the trade for as long as I chose to do so. In my opinion, this money management technique allows for the limits of a stop loss and the control of Recovery.

Could this be the best of both worlds?

Sincerely,

William
may you find what you seek and trade what you find
  • #8,060
  • Apr 4, 2012 12:58am Apr 4, 2012 12:58am
Quoting faxxion
Money Management: The Best Of Both Worlds:

Hello Everyone,

[size=3][font=Calibri]On March 26, we had a lively debate regarding Money Management. My request was a discussion for the possibility of an alternative to using Recovery. My feelings were then, and still are, that for those of us who trade large enough to make our living from a limited amount of resources, ..........................
Sincerely,

William...
Hi Willian.
First thanks !
You need to note the commission cost and some more swap.
I try use this for some time, for me the problems was "where" you unlock
Another things are in Recovery in some point you double, then in small move you can recover a losing trade.
Please continue exploring and share ideas.
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