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Extreme TMA System

  • #9,561
  • Apr 20, 2012 9:39am Apr 20, 2012 9:39am
Friends,

I do not know what's going on with my trades. In the last three days, every time I open an order it becomes a support or resistance. I know it. Something is missing. I need to refine my entries ....
If I Change, the whole World changes!
  • #9,562
  • Apr 20, 2012 9:45am Apr 20, 2012 9:45am
Quoting Forex Girl
Friends,

I do not know what's going on with my trades. In the last three days, every time I open an order it becomes a support or resistance. I know it. Something is missing. I need to refine my entries ....
Yeaah, I'm with u on this one... read my previous post..... had a couple of bad ones too....
  • #9,563
  • Apr 20, 2012 9:46am Apr 20, 2012 9:46am
'Don't be a hero. Don't have an ego. Always question yourself and your ability. Don't ever feel that
you are very good. The second you do, you are dead.
Jesse Livermore, one of the greatest speculators of all time, reportedly said that, in the long ran,
you can't ever win trading markets. That was a devastating quote for someone like me, just getting
into the business. The idea that you can't beat the markets is a frightening prospect. That is why my
guiding philosophy is playing great defense. If you make a good trade, don't think it is because you
have some uncanny foresight. Always maintain your sense of confidence, but keep it in check.' Paul Tudor Jones, Market Wizards

Quoting interbucks
Nothing is for sure..... all the rules and indicators were lined up for a Short (slope kept on repainting though) about 9 hrs ago...GBPJPY & GBPUSD.... except the trend was still up...

Price was playing way outside the 4HR band..... for sure it was going to come back down soon...

But the Shorts cost me dearly...... my system went off line before I could enter SL's just before leaving for work this morning...... but I thought it was OK.

But I was over confident....Tonight, coming home, I was in for a shock seeing my 'balance' (or what change...
Tracking the Specialists.
  • #9,564
  • Apr 20, 2012 9:54am Apr 20, 2012 9:54am
Solid resistance for the GBP now at 1.6130. I'll close my order if there's a daily close above. I truly believe this is the end of the road for the Bulls for the GBP, but what do I know Entered at 1.6019 so currently 109 pips down.
  • #9,565
  • Apr 20, 2012 10:01am Apr 20, 2012 10:01am
Quoting interbucks
Nothing is for sure ...except ...The trend.
Remember, even a trend is not a trend until after the fact when we say, "Oh look how nicely price trended. During the development of a trend it's just that, a developing trend.

The only things I see as 'for sure' in the market is that 1) Price is always moving to break a high or low and 2) One can NEVER know how far price will move in a given direction.
  • #9,566
  • Apr 20, 2012 10:17am Apr 20, 2012 10:17am
Quoting interbucks
Nothing is for sure..... all the rules and indicators were lined up for a Short (slope kept on repainting though) about 9 hrs ago...GBPJPY & GBPUSD.... except the trend was still up...

Price was playing way outside the 4HR band..... for sure it was going to come back down soon...

But the Shorts cost me dearly...... my system went off line before I could enter SL's just before leaving for work this morning...... but I thought it was OK.

But I was over confident....Tonight, coming home, I was in for a shock seeing my 'balance' (or what change...
Thatīs it! I have one trade SELL GBPUSD at 1.6026 open until now. As youīve said: Price was playing way outside the 4HR band..... for sure it was going to come back down soon...
But the price is going up and up..... Now, Iīm -100 pips.
Interbucks, Itīs friday and I will not close the order, because I believe the price is going down at 1.6130. I'll take the risk.
Bye
If I Change, the whole World changes!
  • #9,567
  • Apr 20, 2012 10:22am Apr 20, 2012 10:22am
How do you people deal with the TMA SLOPE indicator repainting?

I have noticed at the point of trade when price crosses the band.
I will miss the trade because slope has not yet hit 0.50+
but later it shows it did ?
  • #9,568
  • Apr 20, 2012 10:24am Apr 20, 2012 10:24am
Believe what you see on the charts AND trade what you see on the charts... NEVER NEVER NEVER Trade ANYONES and I repeat ANYONES Bias or opinion. Live and Die by your own Decisions

and of course...

I hope we ALL live to Trade Another Day.

I'm sorry to hear about your frustrating losses.

Regroup and do your best to enjoy your weekend

Robert
  • #9,569
  • Apr 20, 2012 10:34am Apr 20, 2012 10:34am
Quoting Forex Girl
Thatīs it! I have one trade SELL GBPUSD at 1.6026 open until now. As youīve said: Price was playing way outside the 4HR band..... for sure it was going to come back down soon...
But the price is going up and up..... Now, Iīm -100 pips.
Interbucks, Itīs friday and I will not close the order, because I believe the price is going down at 1.6130. I'll take the risk.
Bye
I'm also going to hold it over the weekend, almost identical trade, so we can prosper or die together.
  • #9,570
  • Apr 20, 2012 10:43am Apr 20, 2012 10:43am
Quoting FocusedonFX
I'm also going to hold it over the weekend, almost identical trade, so we can prosper or die together.
kkkkk..... I hope we can rise from the ashes like a Phoenix!
If I Change, the whole World changes!
  • #9,571
  • Apr 20, 2012 10:43am Apr 20, 2012 10:43am
Quoting FocusedonFX
I'm also going to hold it over the weekend, almost identical trade, so we can prosper or die together.
I ll join you, i was short at 1.6020 too......
Next week will be ours i feel confident to that !
  • #9,572
  • Apr 20, 2012 10:44am Apr 20, 2012 10:44am
Quoting Surfnomad
Believe what you see on the charts AND trade what you see on the charts... NEVER NEVER NEVER Trade ANYONES and I repeat ANYONES Bias or opinion. Live and Die by your own Decisions

and of course...

I hope we ALL live to Trade Another Day.

I'm sorry to hear about your frustrating losses.

Regroup and do your best to enjoy your weekend

Robert
Youīre right, Robert. Thanks for your words.
Have a great week end.
If I Change, the whole World changes!
  • #9,573
  • Apr 20, 2012 10:59am Apr 20, 2012 10:59am
Quoting Surfnomad
Believe what you see on the charts AND trade what you see on the charts... NEVER NEVER NEVER Trade ANYONES and I repeat ANYONES Bias or opinion. Live and Die by your own Decisions

and of course...

I hope we ALL live to Trade Another Day.

I'm sorry to hear about your frustrating losses.

Regroup and do your best to enjoy your weekend

Robert
Well Said.

As I said in another post, we don't know the future, not even tomorrow. Just take what market give you now one day at a time.
Follow me to the Promised Land
  • #9,574
  • Apr 20, 2012 11:27am Apr 20, 2012 11:27am
Quoting Forex Girl
kkkkk..... I hope we can rise from the ashes like a Phoenix!
I'm also short on GU from 1.6120, this is a recovery trade (my first... very difficult...) i know i made a great mistake on my entry.. so if i will be able to do this it will be a great thing for me...
  • #9,575
  • Apr 20, 2012 11:40am Apr 20, 2012 11:40am
Quoting flaw
You're absolutely correct. Semafor indi almost does the same thing as spike indi.
It does repaint. When there is a nearby new HH or LL this indi repaints.

TMA system tries to trade the swing highs and swing lows. It's impossible to pick the exact high or low every time. We're definitely going to make mistakes. That's why Al introduced recovery method to deal with the mistakes. But there're still people like to trade with stop losses. Semafor is just one of the methods trying to do that. It's not a final product, but with my limited experience...
Thanks Frank - It makes more sense to me now. Appreciate your response.
Tom
  • #9,576
  • Apr 20, 2012 11:41am Apr 20, 2012 11:41am
Quoting Immvp
Is this a valid setup to go for long? A valid setup for rule 1, 3 and 4 but not rule no 2. Am i too late going in now? TMA slope is indicating BUY only. Or do i have to wait for the HA to cross from the bottom band direction to the top to enter a long position?
What is wrong with this thread? I was asking for help from fellow members here but no one seem to even care to reply and help me out. Aren't we supposed to help each other here? I am assuming only the high-count number of posters get their replies.
  • #9,577
  • Apr 20, 2012 11:41am Apr 20, 2012 11:41am
Quoting Immvp
Is this a valid setup to go for long? A valid setup for rule 1, 3 and 4 but not rule no 2. Am i too late going in now? TMA slope is indicating BUY only. Or do i have to wait for the HA to cross from the bottom band direction to the top to enter a long position?
You can only go long from below the bottom band. In this chart price is above the upper band. Please, read Post 1.
Observation is the path to discovery.
  • #9,578
  • Apr 20, 2012 11:42am Apr 20, 2012 11:42am
Quoting Immvp
hI, I have entered short on EU but I entered on the first red candle with the arrow, I wonder if this is a correct entry because it is not the red candle crossing the band, it is the blue crossing the band. Is this the correct setup?
And this is the other post I made without reply. Is this thread only for the masters where the newcomer isn't accepted?
  • #9,579
  • Apr 20, 2012 11:44am Apr 20, 2012 11:44am
Quoting Alorente
You can only go long from below the bottom band. In this chart price is above the upper band. Please, read Post 1.
I have read Post 1 a lot of times but I was afraid of being wrong, so i confirmed my question again before i enter my position but no one replied. Thanks Al for replying.
  • #9,580
  • Apr 20, 2012 11:48am Apr 20, 2012 11:48am
Quoting Forex Girl
Thatīs it! I have one trade SELL GBPUSD at 1.6026 open until now. As youīve said: Price was playing way outside the 4HR band..... for sure it was going to come back down soon...
But the price is going up and up..... Now, Iīm -100 pips.
Interbucks, Itīs friday and I will not close the order, because I believe the price is going down at 1.6130. I'll take the risk.
Bye
Of course itīs coming down. The question is when. Thatīs why it is so important to play small per position. You have to figure that the market will take a lot longer to do what you want than you think. You have to leave yourself the staying power to wait it out. The setup is perfect. Outside the M15, H1 and H4 bands. The next move is to the bottom of the H1. Patience and maneuvering room are essential.
Observation is the path to discovery.
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