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Extreme TMA System

  • #10,541
  • May 11, 2012 4:05am May 11, 2012 4:05am
Quoting svezir
If you look at EURAUD M15 has both H1 and H4 and D1 at very close to .25 and decreasing. At M15 it is above .25 but decreasing as well. I think it will try a double top and by then M15 will also be below the threshold of .25 level. There is also a daily R1 just above the PA.
Watch out for a possible rebound of EurUsd to close the gap at 1.3080. It was left open and open gaps are like a magnet for Price Action.
Observation is the path to discovery.
  • #10,542
  • May 11, 2012 4:06am May 11, 2012 4:06am
Svezir, thanks for the help, changed the slope indicator edblhigh1 and 2.
  • #10,543
  • May 11, 2012 4:08am May 11, 2012 4:08am
Quoting beto21_cwb
That's a very good question.

The Recovery System EA was not designed to enter any orders / make trades for you by itself, automatically.

Even though it's an EA, it only handles the already opened orders you made manually.

Say you sold EU, and you need to stay away from the computer for several hours (lunch, sleep, etc). You can use The Recovery System EA to manage this opened trade for you. Simply provide the correct ticket number (of the order you opened manually), a random magic number, and the other settings (pips to enter recovery and...
Thanks for the explanation, beto.

But what happens if I opended my initial trade AND open my recovery trade manually (not by the EA). Would the EA in this case handle the break-even output also?
  • #10,544
  • May 11, 2012 4:15am May 11, 2012 4:15am
Quoting Alorente
Why are you flat? There are many pairs beyond the M15 and H1 bands. Some even beyond the H4 and D1 bands.
Most of the majors are pretty well extended their bands ecxept maybe GU.
Master Your Setup, Master Your self. (NQoos)
  • #10,545
  • May 11, 2012 4:16am May 11, 2012 4:16am
Quoting Alorente
Watch out for a possible rebound of EurUsd to close the gap at 1.3080. It was left open and open gaps are like a magnet for Price Action.
Al,

In my post I was giving info about EURAUD not EURUSD. However, what you say about UE is right on.
  • #10,546
  • May 11, 2012 4:22am May 11, 2012 4:22am
Surely we have to change the trend threshold in Extreme TMA from .5 to .25 as well don't we ??
  • #10,547
  • May 11, 2012 4:28am May 11, 2012 4:28am
In response to

Surely we have to change the trend threshold in Extreme TMA from .5 to .25 as well don't we ??


I believe that would enable the alarm function to operate correctly but as far as the indicator goes you will not see any difference represented on the screen.
  • #10,548
  • Edited 6:14am May 11, 2012 4:31am | Edited 6:14am
Quoting puma
Hi Olarion,

useless to say that I am very impressed from your results! congratualtions!

A few spot questions if you don't mind:

- normally, when you add some more positions, is because the price went against the original entry or you add positions once the price has started to move in your favour?

- do you respect the rules buy or sell only ? if yes, on which timeframe do you look for the 0.5 slope (15m, 1h and 4hr)?

- what TP do you normally use?

- do you consider fundamentals or just trade the system?

thanks a lot for any other suggestion...
Hi Puma,

thank you.

1. I add on positions sometimes after a MTF analysis if they go against me or provide an additional entry with a retracement to a 38.2% / 50% / 61.8% level.

2. In most cases I respect the -0.5/+0.5 slope range for entering trades according to the rules. Only when the dashboard shows a (grey) Buy or Sell for 3 or 4 of my watched timeframes (M5, M15, H1, H4), then I might break the rule and enter also at HA color change, fast trix color change, trix divergence, RSI divergence. Preferrably at a strong s/r level or round number.

3. My TP depends on my analysis of the strength of the move. Normally I set it at the other side of the M15 or H1 band. Anyhow, most of the times I close my trades manually at previous s/r levels, when I see price stalling (wicks on HA candle) or at HA/trix color change.

4. I look at fundamentals, but mostly I only trade what the chart tells me.

I hope this helps, otherwise feel free to ask any further questions.
Olarion
  • #10,549
  • May 11, 2012 4:41am May 11, 2012 4:41am
Daily Read,

http://www.ft.com/intl/markets/currencies
http://www.bloomberg.com/news/currencies/
http://www.fxstreet.com/news/forex-n...f-cd47f546d01c
It seems the main interest today is one the cable.

Heavy calendar today.

Have a good and profitable day.

Daily Trading Wisdom:
"Remember that you can learn a lot about trading from your mistakes. When you make a mistake - and you will - don't dwell on the negative. Take your lesson and keep going. -J. Peter Steidlmayer, CBOT Floor Trader"
Master Your Setup, Master Your self. (NQoos)
  • #10,550
  • May 11, 2012 5:22am May 11, 2012 5:22am
Nice RSI divergence on EU H1
Attached Image (click to enlarge)
Click to Enlarge Name: eu h1.gif Size: 41 KB
Master Your Setup, Master Your self. (NQoos)
  • #10,551
  • May 11, 2012 5:50am May 11, 2012 5:50am
Al, on rule 4


4- When trading charts with time frames of H1 or less, the H4 channel must be ranging (-0.25 to 0.25) or rising for a long trade and ranging (-025 to 0.25) or falling for a short trade. On H4 TF, the same conditions mentioned must apply to the Daily channel.


are you referring to the 0.25 value in the slope? You wrote the H4 channel must be ranging (-0.25 to 0.25)

thanks
Max
  • #10,552
  • May 11, 2012 5:54am May 11, 2012 5:54am
The Cad looks to me as it is going to be a good one to short. Look at the 4hr massive divergence on the slope indi, and the rsi, also the trix. This is also the case in the 1hr, also it seems the 3rd breath is happening on the 1hr.
The price is above the 4hr and 1hr TMA,s, there is resistence at the 1.0086 area.
Attached Image (click to enlarge)
Click to Enlarge Name: cad.PNG Size: 79 KB
  • #10,553
  • May 11, 2012 6:02am May 11, 2012 6:02am
Quoting Ever E. Man
Al, thanks so much, from all of us! This really helps, and I like the longer TF, the rule simplifying (removing all that's unnecessary), and the encouragement! I have to admit, at my age, the complexity was getting a little much for me! LOL

I think by returning to the elegance of "Make everything as simple as possible, but not simpler. ~ (Albert Einstein)", you've made the system a lot more flexible and adaptable, resulting in a more robust system. (And besides, it works for me! LOL)

I had to study evolution in a previous academic life,...
I agree totally that the simple changes made will greatly benefit us and your exhaltation concerning that was brilliant. Your words resonate throughout the universe and are much likened to the music from a gentle Harpist. I am constantly amazed at your eloquence. One could only wish to have a smidgen of the intellect you express. Thank you.
  • #10,554
  • May 11, 2012 6:07am May 11, 2012 6:07am
Quoting Aj1
The Cad looks to me as it is going to be a good one to short. Look at the 4hr massive divergence on the slope indi, and the rsi, also the trix. This is also the case in the 1hr, also it seems the 3rd breath is happening on the 1hr.
The price is above the 4hr and 1hr TMA,s, there is resistence at the 1.0086 area.
Just my opinion - but the Dollar Index shows the greenback heading up so I would only take a very small 10-15 pip short if at all. The 1hr and 4hr slope are heading up and I am very leery about going against them.
Tom
  • #10,555
  • May 11, 2012 6:09am May 11, 2012 6:09am
[quote=tomthepoppop;5659169]Just my opinion - but the Dollar Index shows the greenback heading up so I would only take a very small 10-15 pip short if at all. The 1hr and 4hr slope are heading up and I am very leery about going against them.
Tom[/quote
no comments.
Master Your Setup, Master Your self. (NQoos)
  • #10,556
  • May 11, 2012 8:01am May 11, 2012 8:01am
Cad position closed +66.

Aj1
  • #10,557
  • Edited 8:37am May 11, 2012 8:03am | Edited 8:37am
Quoting Alorente
I have changed the Rules on Page 1. After extensive testing proven by actual results with my live accounts, I have found the new rules to be much superior than the previous ones. The changes involve Rule 1 and Rule 4.

The inputs in the Slope 1.5 Normalized indicator must be changed to -0.25 and 0.25 instead of the default -0.50 and 0.50.

Let me know if you have any questions.
Are these changes due to the strong trnding market seen recently. therefore temporary?
Besides this you talk of a D1 channel on the 1hr TF.. i only have 1 hr(orange) and 4hr(pink) channels on my charts..
  • #10,558
  • May 11, 2012 8:04am May 11, 2012 8:04am
Quoting Aj1
Cad position closed +66.

Aj1
Good one. Way to go. From now on I won't just look at the chart posted on the thread but will expand it on my own system. I really missed that one.
You are the Man!

Tom
  • #10,559
  • May 11, 2012 8:26am May 11, 2012 8:26am
Quoting tomthepoppop
Good one. Way to go. From now on I won't just look at the chart posted on the thread but will expand it on my own system. I really missed that one.
You are the Man!

Tom
That move was cos of the positive news on cad, negative news would have had an opposite impact...
  • #10,560
  • May 11, 2012 8:45am May 11, 2012 8:45am
What about sling shot back up never mind the time frames (the whole farm) is in the oversold zone.
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