Extreme TMA System | Page 559 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Hennis Extreme TMA System 105 replies

TMA Reality Tour 116 replies

Happs with TMA Trading Journal 25 replies

MTF TMA 287 replies

SnakeForce - simple TMA with alert? 3 replies

Attachments: Extreme TMA System
Exit Attachments

Extreme TMA System

  • #11,161
  • May 29, 2012 12:10pm May 29, 2012 12:10pm
Quoting tp0440
I was aware of GBPUSD not reaching it's peak, but I had confluence for the signal all over the board. EURUSD, NZDUSD, AUDUSD, USIDX, even oil.

Anyway, I took the trades on GBPUSD, AUDUSD and oil. Since I had to go away, I set up SL and TP. I hit all TP for a total of 135 pips.

But for the reason you stated, I used a bit bigger SL on GBPUSD. While AUDUSD was fully confirmed trade, it gave more pips than I aimed for. GBP just hit TP. Thank god it still worked.

BR
Adding to this 38 pips on DAX.i short ealrier today. I entered before starting the drive home and nearly swallowed monitor, when I saw the drop all over the board. I was thinking about some other short enteries (including gold), but didn't enter. But, I'm perfectly happy with 38 banked pips also. The lesson here: if you have a full blown signal... take it.

Right now I'm at 173 banked pips, I'll try to catch another 27 to make it a nice round number, but due to the move and lower volatility, only 1/4 of normal position.

@Al.... although I had some issues with the system and I needed to twist it to fit my thought process... - THANKS. I did ok trading different way. But each trade I took was a struggle. 20-30 pips was an ok day. Now... 100 pips seems easy, if I have time to trade (100 pips used to be my weekly target; today I'm at 173). I'm not yet fully comfortable with it, but I am posting quite some trades up-front for my own sake. To prove to myself that either I can or can't do it this way. So far, so good.

BR
  • #11,162
  • May 29, 2012 12:11pm May 29, 2012 12:11pm
Quoting Leokira

I have a Razor acc. with them, live for a few months now. I like it very much, I had live accounts with IBFX, Oanda, FXCM and a few others. This is the best as far as trading is concerned for me, I don't know about ease of withdrawal and safety of large amount etc., since I am still struggling to get consistently profitable.
Thanks for the input !
  • #11,163
  • May 29, 2012 12:12pm May 29, 2012 12:12pm
Quoting Alorente
Yes. I have an account with Pepperstone for over a month now. Everything seems to be working well.
thank you for the letting me know
  • #11,164
  • May 29, 2012 12:13pm May 29, 2012 12:13pm
Bulish Hammer en H1 EUR/USD It can be the beginning of the EU rebound lets wait for a confirmation si we can target 1.3 its a long way and a lot off pips!!
  • #11,165
  • May 29, 2012 3:31pm May 29, 2012 3:31pm
Hi Al!
Entry Rules:

1- We will first determine trend in the TMA by using the TMA Slope indicator value of the TF you are trading. Ranging TMA (-0.25 to 0.25): Trades can be placed in both directions. Buy Only TMA (Above 0.25): Place ONLY Long trades. Sell Only TMA (Below -0.25): Place ONLY Short trades.


When using template "Extreme tma system" ranging TMA -0.5 to 0.5. Why?
It is different when Ranging TMA (-0.25 to 0.25).
  • #11,166
  • Edited May 30, 2012 12:10am May 29, 2012 11:56pm | Edited May 30, 2012 12:10am
Quoting sandrutza
Hi forum members,

As Al mentioned many times he uses an emergency stop loss of 100 pips. I have myself tried recovery a few times and most of the time it worked, but I always had a emotional rollercoaster so I tried to use SL instead (I am only demo for now, as I am still a newbie). I have tried different SL at different distances and realised that unless you catch the move at the complete top or bottom, the market needs some place to breath before actually touching my TP. Underneath I posted a trade I took earlier on AUD USD M15. The red arrow...
This is a tough question to answer and Al or one of the other traders can answer this as well but if some major economic fundamental changes occur in the currency you are trading. For example if interest rates were to change.

Another possibility would be a major trendline break in the opposite direction of your trade, lets say if you were trading M15 and a major trendline breaks in the D1 or W1 time frame.

If either of these two types of situations happen I personally do not use Recovery.

Options would be;

1. Hang on for the long haul. Yes, over 1,000 pips negative isn't impossible so make sure to bet small and be very patient.

Tip; I use Oanda and not sure if you can do this with MT4 but to skip the psychological pain, in Oanda's Java platform you can customize it so you don't see anything but the free margin percent.

I know I can keep trading without having to look at how negative the trades are. I set TP to BE and I check the negatives once a week, if that much. Out of sight out of mind. Plus I get to enjoy making other profitable trades with the leftover free margin.

2. If major economic fundamentals change or a major trendline gets broken (trade not technically valid anymore) then the first loss is the best loss. Get out quick take your loss and regroup. Al mentioned here ;

Quote
That´s why the only logical way to trade is to take your loss when the trade deserves it and not arbitrarily at -20 pips or -30 pips.
All trading has compromise one way or the other but you can still beat 99.9% of professional money mangers depending on how skilled you are. It isn't that difficult.

Best regards.
  • #11,167
  • May 30, 2012 1:44am May 30, 2012 1:44am
Hi All,
I had a similar question some posts ago and really still wondering what the answer is. I can't see how the Cavemanager aligns with Al's approach, unless for only a few WINING trades.

All I see in this blog so far is how to cope with WINING. Great! but losses are unclear to me. CaveManager is an example. I was again with it yesterday on my Demo.

if I want to set a stop of 100 and simulate Recovery Management, I just can't ....so it's really an ad-hoc tool to me (I may be wrong!)
  • #11,168
  • May 30, 2012 3:23am May 30, 2012 3:23am
Next stop for Eur/Usd is 1.2400, and we may have some retracement there.. if price brake 1.2400, it go all the way to 1.9000..
but in my opinion it is imposible for price to go so far without retracment or consolidation. But if grexit happen it could be that way - long spike down...
however like Grins wrote few day ago grexit is almost impossible because Euro without weak economy like Greece, Italy , Spain or Portugal will be to valued for Germany, France, Switzerland to exports goods...

I want to invite everyone for Euro 2012 to Poland. We don't have infrastructure like roads, because our government steals state money.. But hey, we have cool people and beautiful girls, it will be fun anyway
Question is, who will be the champion this time, Spain or Germany? I bet on Spain but it could be another black horse in this race...
  • #11,169
  • May 30, 2012 3:47am May 30, 2012 3:47am
Quoting Nes
Next stop for Eur/Usd is 1.2400, and we may have some retracement there.. if price brake 1.2400, it go all the way to 1.9000..
but in my opinion it is imposible for price to go so far without retracment or consolidation. But if grexit happen it could be that way - long spike down...
however like Grins wrote few day ago grexit is almost impossible because Euro without weak economy like Greece, Italy , Spain or Portugal will be to valued for Germany, France, Switzerland to exports goods...

I want to invite everyone for Euro 2012 to Poland....
Thanks for the invitation buddy Will be nice too in 2014 here in brazil!! You're all invited too.....
BR.
There is no place for wimps
  • #11,170
  • May 30, 2012 4:06am May 30, 2012 4:06am
ooooh my... even on D1...eu is already way oversold ...

when will it turn ???
Lets make some green pips
  • #11,171
  • May 30, 2012 4:15am May 30, 2012 4:15am
Actually, this move down is quite common with regards to PA shape on gigher time frames like h4, even D1. It's annoying as hell to me, but still... expected. Especially considering situation. Although push south is strong, we are just a little bit away from interesting levels for long positions.

@Al. Question: based on PA on EURUSD - are you still in your positions? If yes, are you doing recovery trades or playing both ways?

BR
  • #11,172
  • May 30, 2012 4:35am May 30, 2012 4:35am
Quoting tp0440
Actually, this move down is quite common with regards to PA shape on gigher time frames like h4, even D1. It's annoying as hell to me, but still... expected. Especially considering situation. Although push south is strong, we are just a little bit away from interesting levels for long positions.

@Al. Question: based on PA on EURUSD - are you still in your positions? If yes, are you doing recovery trades or playing both ways?

BR
Hello, Al - are you still on your positions on USD/JPY? I have closed all with a huge loss.
  • #11,173
  • Edited 5:12am May 30, 2012 4:49am | Edited 5:12am
Our Daily summary Read have fun,

Fundamentals :
http://www.ft.com/intl/markets/currencies
http://www.fxstreet.com/news/market-talk/
http://online.wsj.com/public/page/ne...s-trading.html
http://www.cnbc.com/id/15837548/cid/97220/sh/3
http://www.bloomberg.com/news/currencies/

Technicals :
EUR/USD
"There is a general lack of confidence in the euro. As long as things don't change very much, the euro's just going to remain defensive and prone to drop."
- Societe Generale (based on WSJ)
GBP/USD
"The pound is regarded by continental investors as a relative safe haven amid Europe’s turmoil. The numbers coming out of the U.K. have been a bit discouraging but that’s not limiting the currency at the moment."
- FXPro Financial Services Ltd. (based on Bloomberg)
USD/JPY
"The decision on whether further easing is necessary would depend on whether the economy and prices undershoot our forecasts, and whether such risks heighten."
- Hirohide Yamaguchi, BOJ Deputy Governor (based on Reuters)
USD/CHF
"There’s a general increase in risk aversion. It may well happen that some people out there might be tempted to test the SNB’s resolve. It’s a bit like poker - the SNB may have bad cards, but it has the deepest pockets."
- Julius Baer Group Ltd. (based on Bloomberg)

Upcoming important economic announcements (New York time): 5/30/2012
Tentative: Euro-zone – Italian 10-y Bond Auction
10:00am EST: United States – Pending Home Sales m/m
11:30am EST: Euro-zone – ECB President Draghi Speaks
9:00pm EST: New Zealand – NBNZ Business Confidence
9:30pm EST: Australia – Building Approvals m/m
9:30pm EST: Australia – Private Capital Expenditure q/q

Summary :
-Spain real worries on the technical side Australian dollar is weaker on news of worse-than-expected retail sales in April, which stoke expectations of an imminent cut in interest rates.

Daily Trading Wisdom :
" I don't know where speculation got such a bad name, since I know of no forward leap which was not fathered by speculation. -John Steinbeck "

Have a good day.
Master Your Setup, Master Your self. (NQoos)
  • #11,174
  • May 30, 2012 4:58am May 30, 2012 4:58am
Quoting 4rx
ooooh my... even on D1...eu is already way oversold ...

when will it turn ???
It will turn when it will turn,these are the levels(See Pic).
My opinion scale out @ 1.22360 and close all @ 1.2000 Psychological Level.
But hey this is only my opinion, and who knows i can be a newbie or a wall street floor trader.
Attached Image (click to enlarge)
Click to Enlarge Name: eu d1.gif Size: 54 KB
Master Your Setup, Master Your self. (NQoos)
  • #11,175
  • May 30, 2012 5:42am May 30, 2012 5:42am
Quoting Markillo
Hi! AL! how are you doing these days? are you still holding your long position in EU?

it already broke the 1.25 barrier and Dailyfx guys set 1.2480 as an strong support are we facing a possible correction by the end of the week? or just will the EU will be falling deeper than TITANIC?
I have reduced my position on EurUsd and increased it on UsdJpy. I am only invested at 20% of my account at this time until things settle down. Maybe after the Greek election I will increase it.
Observation is the path to discovery.
  • #11,176
  • May 30, 2012 5:44am May 30, 2012 5:44am
Quoting tp0440
Adding to this 38 pips on DAX.i short ealrier today. I entered before starting the drive home and nearly swallowed monitor, when I saw the drop all over the board. I was thinking about some other short enteries (including gold), but didn't enter. But, I'm perfectly happy with 38 banked pips also. The lesson here: if you have a full blown signal... take it.

Right now I'm at 173 banked pips, I'll try to catch another 27 to make it a nice round number, but due to the move and lower volatility, only 1/4 of normal position.

@Al.... although...
Extreme TMA works best on quiet ranging markets. Keep your bets small in this trending market until things settle down again.
Observation is the path to discovery.
  • #11,177
  • May 30, 2012 5:47am May 30, 2012 5:47am
Quoting Markillo
Bulish Hammer en H1 EUR/USD It can be the beginning of the EU rebound lets wait for a confirmation si we can target 1.3 its a long way and a lot off pips!!
There has to be a trigger before Euro rebounds. So far Merkel and ECB are hiding under a rock. It is clear they have no answers at the moment. Be patient and wait for the trigger before you reenter in a big way.
Observation is the path to discovery.
  • #11,178
  • May 30, 2012 5:48am May 30, 2012 5:48am
I am leaving for a golf trip until Monday. I hope all of you have a successful trading week. Good luck.
Observation is the path to discovery.
  • #11,179
  • May 30, 2012 5:54am May 30, 2012 5:54am
It is a TEST right now on USD/JPY? I see divergence on Slope, RSI and Trix; there is 61% fibo for last big swing up. Looks like TMA turns upward.
Everything indicates that here will be turn up, am I correct? Am I think in right way with this system?
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY 2012-05-30.jpg Size: 244 KB
  • #11,180
  • May 30, 2012 6:02am May 30, 2012 6:02am
Thanks for the answers Al.

I did downsize my overall trading lately. Still, I still need to recover NZDUSD stupid trade I made...

Trading:
Right now (15 min ago) I'm long USDJPY and a little also EURJPY.


BR,
T.
9 traders viewing now