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Extreme TMA System

  • #8,921
  • Apr 15, 2012 10:13am Apr 15, 2012 10:13am
Hi there. Ive been following your posts for the past week. I am unable to find the TMA on my meta trader 4. I have looked and looked and nothing. I am very interested in using or trying out the TMA but I can not find it anywhere. Please help, and looking forward in contributing and exchanging ideas, pointers or whatever in order for all of us traders to be successfull in this roller coaster ride of currency trading.

Thank you in advance with any help that you can provide.
  • #8,922
  • Apr 15, 2012 10:20am Apr 15, 2012 10:20am
Quoting bluesky100
Hello Al

If you open any currency chart, let's say on the H1, do you have any suggestions what a person would look for to start the first breath? Thanks for your reply.
Al 1st breaths start from a breakout of a consolidation base (Ranging market). The sequence has no beginning or end. It is cyclical:

1- Consolidation Base (Ranging Market). Breakout from a Ranging Market.

2- First Breath (Wave, Leg, etc), each composed of 3 mini breaths and a test.

3- Consolidation Base (Ranging Market).

4- Second Breath, also composed of 3 mini breaths and test.

5- Consolidation Base (Ranging Market).

6- Third Breath, again composed of 3 mini breaths and test.

7- Test of Major bottom or top (sometimes two or three tests).

8- Consolidation Base (Ranging Market).

After this, the process begins all over again, either in the same direction, as a Continuation of the move, or in the opposite direction as a Reversal.

Important: All mini tests and Major tests must show divergences in RSI and/or Trix to be valid. Mini tests will show divergences in shorter time frames (M15, H1). Major tests in longer time frames (H4, D1, W1).
Observation is the path to discovery.
  • #8,923
  • Apr 15, 2012 10:22am Apr 15, 2012 10:22am
Quoting Alorente
I agree. More focused threads on various aspects of this one would be very beneficial. I just don´t have the time for additional threads. My mother, who recently has quickly become blind from glaucoma, has moved to live with me since three weeks ago and tending to her absorbs a large part of my day. It would be great if some of you start spinoff threads that would focus more on specific aspects of what we are discussing here.
Sorry to hear about your mum's illness.

Maybe one of the key contributors might think about taking a new 'sub' thread on. I think it's important to have someone who is willing to dedicate time to administer it or threads can quickly lose focus.

I think this thread is absolutely great for continued 15min/1hr Extreme TMA. I would personally be really interested to see some focus on a scalping method for 1m and 5m.

Just my 2 cents.
  • #8,924
  • Apr 15, 2012 10:22am Apr 15, 2012 10:22am
Quoting traderfric
Hi there. Ive been following your posts for the past week. I am unable to find the TMA on my meta trader 4. I have looked and looked and nothing. I am very interested in using or trying out the TMA but I can not find it anywhere. Please help, and looking forward in contributing and exchanging ideas, pointers or whatever in order for all of us traders to be successfull in this roller coaster ride of currency trading.

Thank you in advance with any help that you can provide.
The TMA is the Extreme Line Indicator contained in the packet.zip file on post #1.
Observation is the path to discovery.
  • #8,925
  • Edited 10:40am Apr 15, 2012 10:28am | Edited 10:40am
Quoting Alorente
Al 1st breaths start from a breakout of a consolidation base (Ranging market). The sequence has no beginning or end. It is cyclical:

1- Consolidation Base (Ranging Market). Breakout from a Ranging Market.

2- First Breath (Wave, Leg, etc), each composed of 3 mini breaths and a test.

3- Consolidation Base (Ranging Market).

4- Second Breath, also composed of 3 mini breaths and test.

5- Consolidation Base (Ranging Market).

6- Third Breath, again composed of 3 mini breaths and test.

7- Test of Major bottom or top (sometimes two or three tests).

8-...
Now that broken down description of your breathing system is great. I understood the general idea behind your breathing system but not the mini breaths within the larger breathes, also the fact that it's cyclical and the divergences.

This gives me a kind of map of what to expect when looking at a chart.

Thanks for that info.

Best regards.
PS - Best wishes to you and your mom.
  • #8,926
  • Apr 15, 2012 10:29am Apr 15, 2012 10:29am
Quoting los_pipos
Sorry to hear about your mum's illness.

Maybe one of the key contributors might think about taking a new 'sub' thread on. I think it's important to have someone who is willing to dedicate time to administer it or threads can quickly lose focus.

I think this thread is absolutely great for continued 15min/1hr Extreme TMA. I would personally be really interested to see some focus on a scalping method for 1m and 5m.

Just my 2 cents.
Again I agree with you. Scalping is an area where I could talk for months on end. It is a whole different approach to trading and, of course, has very little in common with trading the H1 chart. The psychology and methods are completely different. It can be tremendously profitable or an account breaker, depending on how good you are. I have stayed away from talking about this for the most part because it is so completely different from position trading that it would lead to total confusion.

I enjoy scalping and I´m pretty good at it, but only one day per week or it becomes work.
Observation is the path to discovery.
  • #8,927
  • Apr 15, 2012 12:02pm Apr 15, 2012 12:02pm
Quoting Alorente
I agree. More focused threads on various aspects of this one would be very beneficial. I just don´t have the time for additional threads. My mother, who recently has quickly become blind from glaucoma, has moved to live with me since three weeks ago and tending to her absorbs a large part of my day. It would be great if some of you start spinoff threads that would focus more on specific aspects of what we are discussing here.
Hi Al, very sorry to hear of your mother, it must be a very trying time for you both.
I am sure you will find the strength and patience to deal with it judging by the way you help us on this thread, you truly are a special person.
Regards
Johan
Vandag is die dag.....
  • #8,928
  • Apr 15, 2012 12:20pm Apr 15, 2012 12:20pm
Hi Al, even though you have removed the TMA slope indi from your chart, do you still look at the slope values and trade only accordingly (no shorts if slope > 0.5, no longs if slope < 0.5)?

And second, do you fine-tune your entries on the M15 or solely look at H1 for pulling the trigger?
  • #8,929
  • Apr 15, 2012 12:47pm Apr 15, 2012 12:47pm
Quoting Olarion1975
Hi Al, even though you have removed the TMA slope indi from your chart, do you still look at the slope values and trade only accordingly (no shorts if slope > 0.5, no longs if slope < 0.5)?

And second, do you fine-tune your entries on the M15 or solely look at H1 for pulling the trigger?
Yes, of course. I look at the numbers on TMA Info indi. It gives you the slope value for the current chart, H1 and H4.

I fine tune my entries using the 5 min. chart. You save some pips that way.
Observation is the path to discovery.
  • #8,930
  • Apr 15, 2012 12:52pm Apr 15, 2012 12:52pm
Al, have you considered starting a scalping thread to help the impatient ones that likes to keep busy trading all day long?
Vandag is die dag.....
  • #8,931
  • Apr 15, 2012 12:55pm Apr 15, 2012 12:55pm
Quoting Leokira
Al, have you considered starting a scalping thread to help the impatient ones that likes to keep busy trading all day long?
Have a look 5 posts above.

To summarise - it would be a good idea, but AL doesn't have the time.
  • #8,932
  • Apr 15, 2012 1:00pm Apr 15, 2012 1:00pm
Quoting anton.ng
Jay, thank you for pointing out the incorrect labelling of move (i) and (ii), it comes to show I still have a long way to go. With the lights of many here and especially Al, the learning curve for me is alot steeper now, it has been flatline for too long
Al brought up an important point about Elliot Wave that I never mentioned, inconsistency.

I spent a LOT of time (more than I want to admit) learning to properly count waves, and to follow the rules and many many guidelines correctly, and put it into practice for years trading it at times as well. It's no easy task, and I can tell you that 90% of the people on the Internet (just a generalization, out of 50 people I seen only 5 doing it correctly) do NOT follow "Elliot Wave proper" and break rules.

The kicker is this though, not only is it tricky to do, but it is VERY prone to the subjective view of the person counting the waves. Someone who I consider the absolute most talented person on the Internet for EW, more so than most or all of the guys at EWI, very often gets things wrong because of his very bearish bias. Then you have to consider, that every good EW count has an equally good alternate count. Most of the time, each are showing very different outcomes, and each are equally valid.

Having said all that, EW can be a valuable tool and I know people that trade successfully with it, but it takes a lot of practice as it's no easy task (like most things with trading). Personally, I have the feather in my cap, or tool in the box so to speak, but I really try to keep its use to long term forecasting. Due to the subjective nature and alternate count reality, I found it very difficult in most situations to trade with confidence and now prefer tighter rule based methods.

Hope that helps back up my original recommendation. Unless you have a need for long term forecasting, I'm not sure the time spent to comprehensively learn EW would be worth it. Just my 2 coppers.
  • #8,933
  • Apr 15, 2012 1:09pm Apr 15, 2012 1:09pm
Quoting Alorente
I believe firmly that as members learn to use the many tools in the toolbox, their confidence will increase and that will help many to becoming professional traders some day. The markets are in constant change. The system that works today may not work tomorrow. Having many weapons in the arsenal is essential to consistently winning in the markets.
Well said Al, and although there are good points on why not to "fix something that isn't broke", I think staying open-minded/nimble is also key, and who better to analyse possible improvements than the creator of the method himself and the one that has the most experience with it.
  • #8,934
  • Apr 15, 2012 1:46pm Apr 15, 2012 1:46pm
Quoting DrDave
Hey saussiche, do the charts look any better in 3D?

DrDave
Yeah it's like I can reach out and touch the candles...
  • #8,935
  • Apr 15, 2012 1:47pm Apr 15, 2012 1:47pm
Hi Al,

I got another question: do you always wait for CLOSE of candle when exiting with the Fast Trix color change (only in a strong trend of course)? Or is it depending on the timeframe?

I remember in the early days of the thread you mentioned to exit when Fast Trix FLASHES the opposite color (on M15/M5). But in one of your recent posts you advised to wait for CLOSE of candle when Fast Trix changes color (H4 timeframe).

Does the same apply for HA candle color change also?

PS:
For entries I believe it is always enough to see the color change flashing without waiting for the candle close. Right?
  • #8,936
  • Apr 15, 2012 1:55pm Apr 15, 2012 1:55pm
Quoting Olarion1975
Hi Al,

I got another question: do you always wait for CLOSE of candle when exiting with the Fast Trix color change (only in a strong trend of course)? Or is it depending on the timeframe?

I remember in the early days of the thread you mentioned to exit when Fast Trix FLASHES the opposite color (on M15/M5). But in one of your recent posts you advised to wait for CLOSE of candle when Fast Trix changes color (H4 timeframe).

Does the same apply for HA candle color change also?

PS:
For entries I believe it is always enough to see...
Generally I do not wait for close to exit. As long as I see the opposite color for a second, I exit.

The exception you mentioned was on a very strong downtrend that a member showed me. I recommended to wait for close because on a steep down move (or steep up move), you will often get false color changes on Fast Trix and HA. In that case, it may be better to wait for close or until price stalls for 2 or 3 bars.
Observation is the path to discovery.
  • #8,937
  • Apr 15, 2012 1:58pm Apr 15, 2012 1:58pm
Quoting Alorente
I agree. More focused threads on various aspects of this one would be very beneficial. I just don´t have the time for additional threads. My mother, who recently has quickly become blind from glaucoma, has moved to live with me since three weeks ago and tending to her absorbs a large part of my day. It would be great if some of you start spinoff threads that would focus more on specific aspects of what we are discussing here.
Al lamento escuchar la terrible noticia mis pensamientos y oraciones estan contigo y tu mama
  • #8,938
  • Apr 15, 2012 1:58pm Apr 15, 2012 1:58pm
Quoting Alorente
Generally I do not wait for close to exit. As long as I see the opposite color for a second, I exit.

The exception you mentioned was on a very strong downtrend that a member showed me. I recommended to wait for close because on a steep down move (or steep up move), you will often get false color changes on Fast Trix and HA. In that case, it may be better to wait for close or until price stalls for 2 or 3 bars.
Ok, this makes sense. Thank you for the fast response.
  • #8,939
  • Apr 15, 2012 2:06pm Apr 15, 2012 2:06pm
Quoting Alorente
Generally I do not wait for close to exit. As long as I see the opposite color for a second, I exit.

The exception you mentioned was on a very strong downtrend that a member showed me. I recommended to wait for close because on a steep down move (or steep up move), you will often get false color changes on Fast Trix and HA. In that case, it may be better to wait for close or until price stalls for 2 or 3 bars.
For entries the same thing. Entries should never be executed too soon on very fast steep moves. You need to wait for a stall of 2 or 3 bars or a close of Fast Trix and HA. If not, you may get a temporary color change on a spike and then price continues moving in the same direction.

Another excellent way of entry is: As soon as you see a flash color change on Trix or HA, place a Sell Stop order one pip under the previous candle for a short or a Buy Stop order one pip above the previous candle for a long. Keep moving this Stop order as new candles complete. This way, you enter the trade in the correct direction and avoid entering too early and have the market move against you. Ideally, do this on a retest of the high or low of the move since price retests strong moves over 90% of the time. Or, place half the order after the first top (or bottom) and the other half on the retest.
Observation is the path to discovery.
  • #8,940
  • Apr 15, 2012 2:06pm Apr 15, 2012 2:06pm
Time for me to make a first post here. I have been following this Forum since the very beginning and I read every single thread. I feel like I know you all!! So don’t worry, I won’t ask you where I can find the Extreme_Spike indicator.
First, Al, just like all the members have done here, I would like to thank you for this excellent Forum. Not only you are one of the best teachers I know (or read) but the way that you have been managing this Forum is simply astonishing. Your personal qualities transpire throughout every single of your post and you definitely became a model for a lot of us. For me anyway.
This is why even if other people start different threads; I’ll stick with this one here. The way I see it (and like you mentioned in one of your post) “Many roads lead to Rome”.
It is absolutely possible that I got it all wrong, but I think to be successful, one need to understand the foundation (which is your breathing system) and it is so complex that the only way to get there is to start with a method (Extreme TMA). I personally am very happy and successful with the “method” and for that reason; I am SO looking forward to grasp the technic behind the foundation. Using a method supported by the foundation is probably the way to be successful (easier said than done). But I presume at one point, once we understand the breathing system, the Extreme TMA will not be necessary anymore.
So my question is the following: The way you described the breathing system is in its absolute state (repetition of the following sequence: 1 major breath – 3 minor, consolidation). By looking at charts (non-stop all weekend) I was trying to identify the breaths and the mini breaths and obviously, my eyes (or brain) are definitely not ready to catch these sequences. Sometime, there will only be one breath, sometime there will be 4 or 5 before the test… I just can’t find a pattern yet.
May I ask you to confirm if I got it right with the attached picture (Especially where I mentioned that I see just 1 major breath. I also removed the TMAs so it is less cluttered) ?
Thank you very much for having considerably improved my trading !

Bunker
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