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Extreme TMA System

  • #8,081
  • Apr 4, 2012 3:02am Apr 4, 2012 3:02am
Quoting OzFXtrader82
Thanks William, I'll do some experimenting and see what happens. To be honest, I am trading live but only with minimal lots so trades arent going to get out of hand the way I am trading at the moment. I like the idea of recovery but haven't had the chance to use it on a trade that has gone against me but the locking approach sounds equally valid.

John
Hello John,

If you do not mind, let me know how it goes. You can post it here or PM me. I am curious to see how this works for different traders.

Your Friend,

William
may you find what you seek and trade what you find
  • #8,082
  • Apr 4, 2012 3:13am Apr 4, 2012 3:13am
Quoting faxxion
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.

[size=3][font=Calibri][b][u]First...
Hello William,

Yes. I think this is a valid system. I told Mike so when he first introduced it and his contribution is one of the reasons he is in the Hall of Fame on Post 1. Having said this, I do want to stress that locking is difficult for new traders. It requires experience and being cool under fire. When you lock you have two open orders which can lead to confusion and nervousness. You now have to decide not only if you exit the trade but in which direction. It can be easy to make a mistake for less experienced traders. If you try this, please do so with a demo account until you feel at ease with it.

I feel one of the important aspects of trading is to have clear conviction of the trade you are in. If you are not convinced or you feel unease with your position, it should be closed and you should reevaluate with a cool mind.
Observation is the path to discovery.
  • #8,083
  • Apr 4, 2012 3:15am Apr 4, 2012 3:15am
Quoting sandrutza
Ever since Al posted the 1,2,3 test pattern of his breathing system, I have really tried train my eyes to spot this pattern on different time frames and watch the price action vs the coral and the 200SMA. I just spotted a 1,2,3 test on H1 EUR USD. The same pattern is also present on H1 on GBP USD and the reversed pattern on USD CHF. I am looking forward to the coral crossing down soon the 200 SMA. Do you guys think this could signal the the big drop on EU Al has been talking about in the last week ?
Good observation. This was one of the reasons I felt confident with my shorts last night. I do believe this is the start of the Big Drop for EurUsd and GbpUsd.
Observation is the path to discovery.
  • #8,084
  • Apr 4, 2012 3:18am Apr 4, 2012 3:18am
Quoting normtold
I hope trading is going well for everyone, it was for me until I had a problem with Pepperstone.

Sorry to go off topic but is anyone else here using that Broker?

The platform has been disconnecting a lot recently and when it connected again it closed out 5 of my open positions all at one, I am nowhere near my margin (over 3500%) and do not use an EA.

In the journal at the time are error message "FTP. STOR command failed" whatever that means.
Normtold, have you had additional problems with Pepperstone or is this an isolated occurrence. I ask because I am currently opening an account with them and I would like to know. I have my accounts currently with FxPro, who incidentally, do allow hedging.
Observation is the path to discovery.
  • #8,085
  • Apr 4, 2012 3:23am Apr 4, 2012 3:23am
Here is an article that supports my view that Usd is headed substantially higher:

http://www.dailyfx.com/forex/fundame...Direction.html
Observation is the path to discovery.
  • #8,086
  • Apr 4, 2012 3:33am Apr 4, 2012 3:33am
Quoting normtold
I hope trading is going well for everyone, it was for me until I had a problem with Pepperstone.

Sorry to go off topic but is anyone else here using that Broker?

The platform has been disconnecting a lot recently and when it connected again it closed out 5 of my open positions all at one, I am nowhere near my margin (over 3500%) and do not use an EA.

In the journal at the time are error message "FTP. STOR command failed" whatever that means.
In the Broker Discussion sub forum there is an active thread about Pepperstone fx, in the past they have reported connection issues, best bring up your query there.
  • #8,087
  • Apr 4, 2012 3:33am Apr 4, 2012 3:33am
Quoting Alorente
Normtold, have you had additional problems with Pepperstone or is this an isolated occurrence. I ask because I am currently opening an account with them and I would like to know. I have my accounts currently with FxPro, who incidentally, do allow hedging.
Well the Razor account spreads are good but with the commission it works out the same as the standard account.

They always seem to open late Sunday nights, not good if you like to trade Gaps like I do. This week it was 10:45 P.M before the platform was up and running.

There are a few disconnections a day and none on the other Brokers I use. My Internet connection is good.

So the spreads are tight but the platform seems unstable compared to other Brokers.

There are a lot of threads where people are complaining about slow execution times and disconnection problems.

I have never had trades closed out before by any Broker so this is new to me, I sent the file logs to them and they say IT will look into it.

"07:32:41 Custom indicator TMA NZDUSD,Daily: loaded successfully
07:32:47 '+++++++': connect failed [No connection]
07:34:43 '+++++++': login
07:34:43 LiveUpdate: new build 419 is available
07:34:44 '+++++++': previous successful authorization performed from 31.53.69.254
07:34:44 Publisher: starting
07:35:04 Publisher: ok
07:35:09 Publisher: starting
07:35:14 FTP: STOR command failed
07:35:14 Publisher: failed
07:35:14 Publisher: starting
07:35:17 FTP: STOR command failed
07:35:17 Publisher: failed
07:40:15 Publisher: starting
07:40:17 FTP: STOR command failed
07:40:17 Publisher: failed
07:45:16 Publisher: starting
07:45:22 FTP: STOR command failed
07:45:22 Publisher: failed
07:50:17 Publisher: starting
07:50:21 FTP: STOR command failed
07:50:21 Publisher: failed
07:55:18 Publisher: starting
07:55:23 FTP: STOR command failed
07:55:23 Publisher: failed
07:58:16 Publisher: starting
07:58:17 FTP: STOR command failed
07:58:17 Publisher: failed
08:03:17 Publisher: starting
08:03:37 Publisher: ok"
  • #8,088
  • Apr 4, 2012 3:38am Apr 4, 2012 3:38am
Quoting Alorente
Normtold, have you had additional problems with Pepperstone or is this an isolated occurrence. I ask because I am currently opening an account with them and I would like to know. I have my accounts currently with FxPro, who incidentally, do allow hedging.
Hi Alorente, why are you opening an account with Pepperstone?

I'm wondering because you already have an account with FXpro which seems to be much better, ecn spreads from 0, level 2 market depth and negetive balance protection, and a much bigger company, minimum opening balance aside, I know which I'd rather stick with.
  • #8,089
  • Apr 4, 2012 3:41am Apr 4, 2012 3:41am
Quoting jeanlouie
Hi Alorente, why are you opening an account with Pepperstone?

I'm wondering because you already have an account with FXpro which seems to be much better, ecn spreads from 0, level 2 market depth and negetive balance protection, and a much bigger company, minimum opening balance aside, I know which I'd rather stick with.
I would like to start spreading my accounts with other reliable brokers. When your accounts grow, itīs not intelligent to have all your eggs in one basket.
Observation is the path to discovery.
  • #8,090
  • Apr 4, 2012 5:07am Apr 4, 2012 5:07am
Quoting Alorente
Finally someone has the guts to publish the road map of what will happen to the Euro and Europe in the next 2 years, starting very soon. I agree with every word of this revealing article:

http://www.bloomberg.com/news/2012-0...apart-now.html
Hi Al
This is a counter argument posted on Bloomberg, interesting

http://www.bloomberg.com/news/2012-0...-collapse.html
Vandag is die dag.....
  • #8,091
  • Apr 4, 2012 5:12am Apr 4, 2012 5:12am
Quoting dorellino
Real Success (personal and economic) in every field does not come from one lucky night, some good days, or from the lottery.
I'm tired of this kind of posts, they are truly insignificant, sorry.
Sorry if I sound rude, but this is the truth in everyday life..... in Forex is THE TRUTH.
I hope you don't get me wrong and understand what I mean...
Have a good one
Max
Ha-Ha! yeah. Even a stopped clock is correct twice a day.
To free Gazans of Hamas, use whatever it takes.
  • #8,092
  • Apr 4, 2012 5:13am Apr 4, 2012 5:13am
Quoting Leokira
Hi Al
This is a counter argument posted on Bloomberg, interesting

http://www.bloomberg.com/news/2012-0...-collapse.html
Yes. A very weak counterpoint. It uses the initial dollar troubles to show that the problems are not exclusive of the euro but it fails to mention that the US had from the beginning a political and fiscal union which is exactly what is missing in the Euro and the main reason why it will never work.
Observation is the path to discovery.
  • #8,093
  • Apr 4, 2012 5:15am Apr 4, 2012 5:15am
Sold GBPJPY D1 for a longer term trade.
To free Gazans of Hamas, use whatever it takes.
  • #8,094
  • Apr 4, 2012 5:16am Apr 4, 2012 5:16am
I use a Pepperstone Razor acc. and after they installed a new server in early March, the service has been very good.

Advantage of tiny spread is that you can sometimes stay in a trade longer because the spread does not take you out. The costs may not be much cheaper but it is nice to not to have a 3 pip spread on cable for instance.
Vandag is die dag.....
  • #8,095
  • Apr 4, 2012 5:20am Apr 4, 2012 5:20am
It will be interesting to see if EurUsd respects the Head and Shoulders neckline (blue Line) at 1.3030 or if it will cross it like a knife through butter and then maybe test it from the other side.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd m5.jpg Size: 124 KB
Observation is the path to discovery.
  • #8,096
  • Apr 4, 2012 5:21am Apr 4, 2012 5:21am
Agreed - EURO won't work unless there is a United States of Europe which of course is exactly what politicians from some countries want.
  • #8,097
  • Apr 4, 2012 5:36am Apr 4, 2012 5:36am
Alorente can I ask if you use the MT4 terminal with FXPro or the ECN cTrader.

How have you found their customer support?
  • #8,098
  • Apr 4, 2012 5:47am Apr 4, 2012 5:47am
Quoting normtold
Alorente can I ask if you use the MT4 terminal with FXPro or the ECN cTrader.

How have you found their customer support?
I use the MT4 platform. Their customer support is good.
Observation is the path to discovery.
  • #8,099
  • Apr 4, 2012 5:48am Apr 4, 2012 5:48am
Quoting Alorente
Yes. A very weak counterpoint. It uses the initial dollar troubles to show that the problems are not exclusive of the euro but it fails to mention that the US had from the beginning a political and fiscal union which is exactly what is missing in the Euro and the main reason why it will never work.
Al, you could very well be right. It seems like you should be! Just to round out the picture a bit, here is a copy of the current newsletter from John Thomas, the hedge fund manager who started the first Global Macro Hedge Fund, concerning the same subject. It makes a little different point than value, or economics. Here is an excerpt:

"...In the past few weeks, the net position held by traders in the futures market has swung from a 4-year high long position to a 4.5-year high short position. This is a swing of Biblical positions, and will put a floor under any short-term depreciation of the Japanese currency.

Remember the last time this happened? In January, when everyone and his second cousin was running shorts in the Euro. When that happened the beleaguered European currency appreciated from $1.26 to $1.35, despite the deteriorating economic picture.

When the trade gets too one-sided nobody makes any money, no matter how great the fundamentals are..."

Of course, when he talks about "nobody", he's probably talking about institutional traders, and other hedge fund traders.
Attached File(s)
File Type: pdf From the desk of John Thomas.pdf   146 KB | 608 downloads
The mind thinks, the heart knows...
  • #8,100
  • Apr 4, 2012 5:53am Apr 4, 2012 5:53am
Quoting Ever E. Man
Al, you could very well be right. It seems like you should be! Just to round out the picture a bit, here is a copy of the current newsletter from John Thomas, the hedge fund manager who started the first Global Macro Hedge Fund, concerning the same subject. It makes a little different point than value, or economics. Here is an excerpt:

"...[font=arial]In the past few weeks, the net position held by traders in the futures market has swung from a 4-year high long position to a 4.5-year high short position. This is a swing of Biblical positions,...
I agree with him. We may have to revisit 79+ on UJ before itīs ready to climb again.
Observation is the path to discovery.
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