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Extreme TMA System

  • #8,581
  • Apr 12, 2012 1:32am Apr 12, 2012 1:32am
Quoting ill_be_back
short audusd at 1.03738
audjpy at 83.927
Hi Ever,

Looks like the AUD pairs made a big move last night from Employment change and unemployment rate.

Still going in the same direction at the moment but will be looking for an entry later.
  • #8,582
  • Apr 12, 2012 3:02am Apr 12, 2012 3:02am
Quoting abqkidd
Hi all,
Just want to introduce myself. I'm Brian from New Mexico. I mostly trade futures , but I stumbled on this thread while I using the Forex Factory Calender. Once I started reading I kept on it and now I'm interested in Forex. Many thanks to you Al for sharing your knowledge and for this wonderful thread you have. And also thanks to everyone else here for your contributions. I've never used Meta Trader but am going to download it and the packet on page one and give it a whirl. Hopefully I'll be able to contribute in the future. I really appreciate...
Welcome aboard, friend. I too traded futures for many years. I think you will find Forex quite easier to trade, once you learn the "personality" of each pair. Good luck.
Observation is the path to discovery.
  • #8,583
  • Apr 12, 2012 3:04am Apr 12, 2012 3:04am
Quoting Paradox
Thanks for figuring this out. I made the changes you requested. I have not actually tested this but it makes sense and should now work nicely through the dashboard.

You can of course make any fixes like this you want in the future and I can always check for latest versions posted here.
Cool! Thanks, Paradox! Your trading is going well, I hope!
The mind thinks, the heart knows...
  • #8,584
  • Apr 12, 2012 3:07am Apr 12, 2012 3:07am
Quoting Ever E. Man
Good article, Al. I've read so many just like it, and I imagine you have too.

Austerity + great heaping helpings of additional debt, even at low interest, does not solve a structural debt problem.

GDP will shrink, political instability will increase, and the only permanent solution is to default, and devalue the currency (as per Argentina), an impossibility with the EUR as it is.

Greece went half way. It won't be enough, though.

Additional remarks for those that are interested:
I agree with you, Ever. Unfortunately there is no easy way out from this mess. The peripheral countries will have to exit and return to their original currencies to be able to depreciate and have somewhat of a future. I donīt believe the political will exists in northern democracies to unify the EU fiscally, which is what is required to keep the Euro as the common currency for all countries involved. It is difficult to visualize if the Euro will remain the currency of the northern countries or if it will have to break up entirely.
Observation is the path to discovery.
  • #8,585
  • Apr 12, 2012 3:13am Apr 12, 2012 3:13am
Quoting sabrys5769
Yes Ever "Vol" is old Italian language, Leonardo was born in 1452 and during that time Italian language was different from now.
However the meaning is the same and your translation is perfect.

Ciao
Sabrina
Thanks for the clarification, Sabrina! I suspected as much. English has gone through similar changes from middle English to modern, of course.

English is currently undergoing radical changes as an international language, which is being modified on a daily basis by all the international speakers. Who knows where it will end up. Fun and exciting for linguists, I imagine.

Ciao
The mind thinks, the heart knows...
  • #8,586
  • Apr 12, 2012 3:14am Apr 12, 2012 3:14am
Quoting Paradox
Thanks for figuring this out. I made the changes you requested. I have not actually tested this but it makes sense and should now work nicely through the dashboard.

You can of course make any fixes like this you want in the future and I can always check for latest versions posted here.
Thanks, Paradox. As always, I appreciate your contribution.

Thanks to you too, BlueWaterCat for catching this.
Observation is the path to discovery.
  • #8,587
  • Apr 12, 2012 3:15am Apr 12, 2012 3:15am
Quoting Ever E. Man
After NinjaTrader I found MetaTrader simple enough to understand, but not nearly as good in terms of standard indicators. I'm going to use this system to trade binary options and spreads on Nadex, which I think might do well.
Good luck trading. It opens Sunday night, just like Globex. There are some time settings that are in the thread somewhere that I haven't gotten set yet. One is for you broker and one is for your location, I believe. Both are based on GMT. G'night. Off to bed!
Ever, Iīve been thinking of buying Ninja. Would you recommend that I do so? Is there an easy way to convert the MT4 indis to Ninja?
Observation is the path to discovery.
  • #8,588
  • Apr 12, 2012 3:18am Apr 12, 2012 3:18am
Quoting LuckyLurker
you can use the simulation ea.
Lucky, I would appreciate it if you gave us a detailed step by step instruction on how to use the simulation ea, where to get it and the data for testing. Thanks. I have several systems that I would like to back test.
Observation is the path to discovery.
  • #8,589
  • Apr 12, 2012 3:24am Apr 12, 2012 3:24am
As you can see from the H1 chart below, The RSI trendline has been respected by price repeatedly. The Coral is now close to the 200 MA and price is getting very close to breaking it and heading for the Head and Shoulders neckline. The H1 channel is approaching the rapidly descending H4 channel. All the ducks are lining up nicely for the drop that I expect will occur between now and the next 3 days.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh1.jpg Size: 139 KB
Observation is the path to discovery.
  • #8,590
  • Apr 12, 2012 3:57am Apr 12, 2012 3:57am
Al, Do you see EJ and GJ dropping with EU and GU?
I know they are oversold but as far they have respected EU and GU..
  • #8,591
  • Apr 12, 2012 3:58am Apr 12, 2012 3:58am
Here is the EurUsd H4 chart. There is a tug of war coming between the very long down trendline on RSI with a short term up trendline. This will be resolved between today and tomorrow. My bets are on the long term line winning the battle. The fact that the H4 channel turned and stayed inside the Price Channel that began in August leads me to believe this. The channel seems poised now to test the bottom wall of the price channel at 1.1700 sometime in June.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh4.jpg Size: 142 KB
Observation is the path to discovery.
  • #8,592
  • Apr 12, 2012 4:00am Apr 12, 2012 4:00am
Quoting grechmar
Al, Do you see EJ and GJ dropping with EU and GU?
I know they are oversold but as far they have respected EU and GU..
Yes I do, but I would rather bet on EU and GU because Japan can manipulate their currency in the short term.
Observation is the path to discovery.
  • #8,593
  • Apr 12, 2012 4:35am Apr 12, 2012 4:35am
Quoting Alorente
Here is the EurUsd H4 chart. There is a tug of war coming between the very long down trendline on RSI with a short term up trendline. This will be resolved between today and tomorrow. My bets are on the long term line winning the battle. The fact that the H4 channel turned and stayed inside the Price Channel that began in August leads me to believe this. The channel seems poised now to test the bottom wall of the price channel at 1.1700 sometime in June.
Al, you are making me a lazy trader, all I have to do is follow your analysis now.
  • #8,594
  • Apr 12, 2012 4:45am Apr 12, 2012 4:45am
Quoting nanningbob
Al, you are making me a lazy trader, all I have to do is follow your analysis now.
Iīd love to see yours, Bob. Either on the thread or by PM or email. 4 eyes see more than 2.
Observation is the path to discovery.
  • #8,595
  • Apr 12, 2012 4:49am Apr 12, 2012 4:49am
Al,

looking at the templates in the packet, those named High ATR... use a value for ATRmultiplier of 3.0 for tf 240 and 60 whereas in the Low ATR templates the ATRmultiplier is 2.5.
Just for a better understanding of the indicators could you please explain when to use one or the other?
Thank you in advance.
'the quieter you become, the more you are able to hear' - Ram Dass
  • #8,596
  • Apr 12, 2012 5:01am Apr 12, 2012 5:01am
Quoting Alorente
I agree with you, Ever. Unfortunately there is no easy way out from this mess. The peripheral countries will have to exit and return to their original currencies to be able to depreciate and have somewhat of a future. I donīt believe the political will exists in northern democracies to unify the EU fiscally, which is what is required to keep the Euro as the common currency for all countries involved. It is difficult to visualize if the Euro will remain the currency of the northern countries or if it will have to break up entirely.
Disclaimer: In the back of my mind, I always keep open the ONE instant solution to most of the short term euro woes. That ONE item is Eurobonds. Germany has been steadfastly against them saying that without fiscal discipline followed by fiscal union, eurobonds would not be a permanent solution. I agree with this, BUT, if faced with imminent euro collapse, you cannot totally discount this possibility. An announcement of a eurobond project, would immediately skyrocket the euro to above 1.4000.

I estimate that a fair rate for 10 year eurobonds would start off somewhere in the 3.5% to 4% area. A tough price for Germany to pay, both financially and politically, since they are currently paying about half of that. Would they opt for this last resort measure if things get out of hand? I feel it is improbable but I cannot discount it...
Observation is the path to discovery.
  • #8,597
  • Apr 12, 2012 5:06am Apr 12, 2012 5:06am
Here is a trade simulator, EA, instructions enclosed. Warning, it's like watching paint dry....
Attached File(s)
File Type: zip Trading simulator2.zip   491 KB | 609 downloads
  • #8,598
  • Apr 12, 2012 5:12am Apr 12, 2012 5:12am
Fast Trix has now crossed Slow Trix on the H1 chart and is crossing the Zero line as we speak. This is an important bearish development.
Observation is the path to discovery.
  • #8,599
  • Apr 12, 2012 5:12am Apr 12, 2012 5:12am
Hola AL que opina del par audusd en 1h ? gracias
Attached Image (click to enlarge)
Click to Enlarge Name: audusd___1h.png Size: 32 KB
  • #8,600
  • Apr 12, 2012 5:12am Apr 12, 2012 5:12am
Quoting darshanag
Hi all,

I'm a newbie and in the process of trying out this method. Just wondering how best I could use the Trix4kids indicator, 200MA line, Coral line & RSI to support the entry / exit of a trade ? Appreciate your thoughts / suggestions.. Cheers !

Darshana
Anybody ? Any suggestions comments will be much appreciated ! Many thanks...

Darshana
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