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Extreme TMA System

  • #11,221
  • May 30, 2012 11:15pm May 30, 2012 11:15pm
I am no expert, but try loading this and let me know first. This is the latest template I found from Mr Lorente, and this template clearly has:

edblHigh1=0.25000000
edblLow1=-0.25000000

which to me means the band will give you the right output (Ranging, Sell only , etc)

IF you load this on both MT4 and refresh the charts I can't see any reason why you should see anything different....MT4 is not GREAT to say the least, my experience so far is "ok"...but is free and many traders use it so......

CHANGE: If you want to change this in the future, say AL change it to 0.20, then you change those 2 values, save the file and that's it.
Attached File(s)
File Type: tpl lorente large chart.tpl   37 KB | 534 downloads
  • #11,222
  • May 31, 2012 1:38am May 31, 2012 1:38am
For all who is short in usd/cad. I think the price is forming double top on H1.
Attached Image (click to enlarge)
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  • #11,223
  • May 31, 2012 1:50am May 31, 2012 1:50am
[quote=thewriter30;5714915]I am no expert, but try loading this and let me know first. This is the latest template I found from Mr Lorente, and this template clearly has:

edblHigh1=0.25000000
edblLow1=-0.25000000

I changed the edbHigh and low settings both MT4s -0.25 and 0.25 instead using lorente large tpl.
so now they both agree.
Thanks a lot
Santorini
  • #11,224
  • May 31, 2012 1:59am May 31, 2012 1:59am
i'd like to know something guys-With this template,how effective is it trading forex??..i need something i can rely on.
  • #11,225
  • Edited 4:21am May 31, 2012 2:32am | Edited 4:21am
For everyone of you still short E/J the big picture D1 trend analysis says abandon ship, of course this is not a trading advice just my opinion,See Picture.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYDaily.png Size: 56 KB
Master Your Setup, Master Your self. (NQoos)
  • #11,226
  • May 31, 2012 2:48am May 31, 2012 2:48am
Quoting SteeP7
I know its not a popular pair but anyone thought about selling CAD/CHF?
A trade might be setting up soon
The question that should be asked is (does someone thought of going long this pair ?).
Your baby just broke resistance and is in long weekly and monthly up trend he just entered an overbought zone on a MTF stochastics he can last a long time in overbought zone on weekly and monthly timeframe the decision is yours either to buy or sell.This is just my analysis.

Best Regards.
P.S. Have you noticed this other baby NZDUSD (See pic).
Attached Image(s) (click to enlarge)
Click to Enlarge Name: CADCHFWeekly.png Size: 49 KB
Click to Enlarge Name: NZDUSDDaily.png Size: 52 KB
Master Your Setup, Master Your self. (NQoos)
  • #11,227
  • May 31, 2012 2:59am May 31, 2012 2:59am
Is anybody using this on lower time frames? Like M1 or M5?
  • #11,228
  • Edited 5:03am May 31, 2012 3:53am | Edited 5:03am
Our Daily meeting,

Fundamentals :
http://www.bloomberg.com/news/currencies/
http://www.cnbc.com/id/15837548/cid/97220/sh/3
http://online.wsj.com/public/page/ne...s-trading.html
http://www.dailyfx.com/

Summary :
EUR
"Italy is currently experiencing an externally driven deterioration in its perceived creditworthiness."
- Nicholas Spiro, managing director at Spiro Sovereign Strategy
USD
"The drop in pending home sales is clearly disappointing."
- Pierre Ellis, an economist at Decision Economics
GBP
"There appears to be a very, very slow thaw going on in the housing market."
- David Tinsley, BNP Paribas economist
CHF
"What we are looking at now is a crisis of confidence and when you get a crisis of confidence, of course, equities suffer."
- Peter Dixon, a global equities economist at Commerzbank AG
JPY
"The European crisis is spreading out to Spain from Greece."
- Kenji Shiomura, a manager at Daiwa Securities Group Inc.

Trade Pattern Idea :
EUR/GBP Emerging Pattern: Channel down

Daily Trading Wisdom :
"The elements of good trading are: (1) cutting losses, (2) cutting losses, and (3) cutting losses. If you can follow these three rules, you may have a chance. -- Ed Seykota"

P.S. Heavy calendar today and tomorrow so extra high volatility and major trend changing environment is expected not for the faint-hearted, advised to close all positions and go play golf like AL or something more fun.
Today
USD
ADP Non-Farm Employment Change
Prelim GDP q/q
Unemployment Claims
Chicago PMI
Crude Oil Inventories
EUR
Irish Stability Treaty Vote

Have a nice one.
Master Your Setup, Master Your self. (NQoos)
  • #11,229
  • May 31, 2012 5:06am May 31, 2012 5:06am
Quoting bassramy
For everyone of you still short E/J the big picture D1 trend analysis says abandon ship, of course this is not a trading advice just my opinion,See Picture.
please,post template,very nice chart!
  • #11,230
  • May 31, 2012 5:16am May 31, 2012 5:16am
Can someone attached a chart and tell the reasons for entry this trade.

I have problems to find the right entries.

Thanks for help.
  • #11,231
  • May 31, 2012 5:22am May 31, 2012 5:22am
Quoting bassramy
The question that should be asked is (does someone thought of going long this pair ?).
Your baby just broke resistance and is in long weekly and monthly up trend he just entered an overbought zone on a MTF stochastics he can last a long time in overbought zone on weekly and monthly timeframe the decision is yours either to buy or sell.This is just my analysis.

Best Regards.
P.S. Have you noticed this other baby NZDUSD (See pic).
I'm all over NZDUSD, but before explaining myself, I'm really interested in your oppinion.

BTW: what are the step stoch and MA's you are using? Looks interesting.


BR
  • #11,232
  • May 31, 2012 5:27am May 31, 2012 5:27am
Quoting tp0440
I'm all over NZDUSD, but before explaining myself, I'm really interested in your oppinion.

BTW: what are the step stoch and MA's you are using? Looks interesting.


BR
Guys,
This is an MT5 Template, MTF stochastics with the settings that you see on the chart + MTF Super Trend.

Best Regards.
Master Your Setup, Master Your self. (NQoos)
  • #11,233
  • May 31, 2012 5:31am May 31, 2012 5:31am
Quoting bassramy
Guys,
This is an MT5 Template, MTF stochastics with the settings that you see on the chart + MTF Super Trend.

Best Regards.
I thought I've seen this somewhere... I was already using MT5 and switched back to MT4 due to TMA...

So.... what's your oppinion on NZDUSD? :-)

BR
  • #11,234
  • May 31, 2012 5:44am May 31, 2012 5:44am
Quoting tp0440
I thought I've seen this somewhere... I was already using MT5 and switched back to MT4 due to TMA...

So.... what's your oppinion on NZDUSD? :-)

BR
I Won't touch it now, down trend is exhausted marked by double bottom formation and a clear hammer candlestick with bullish confirmation and stochastic is in oversold zone, i'm waiting for a clear break of the upper neckline which is close to happen and a retest also for a stochastic cross of 20 level up to go long all is D1.
Thank you and have a great day.

The Hammer

The Hammer pattern is a bottom reversal pattern and is often referred to as "Hammering out the bottom". This pattern can show up at any location, but is only valid after a downtrend, even if that downtrend is small. To find Hammers use the characteristics below:

A long wick - at least twice the length of the real body
A small real body (minus wick)
Small or no upper wick
Appears after a downtrend
Bonus point if the hammer is a bullish candle
Master Your Setup, Master Your self. (NQoos)
  • #11,235
  • May 31, 2012 7:05am May 31, 2012 7:05am
Hhahaha!

Very good man!

L.

Quoting bassramy
Our Daily meeting,

Fundamentals :
http://www.bloomberg.com/news/currencies/
http://www.cnbc.com/id/15837548/cid/97220/sh/3
http://online.wsj.com/public/page/ne...s-trading.html
http://www.dailyfx.com/

Summary :
EUR
"Italy is currently experiencing an externally driven deterioration in its perceived creditworthiness."
- Nicholas Spiro, managing director at Spiro Sovereign Strategy
USD
"The...
  • #11,236
  • May 31, 2012 7:17am May 31, 2012 7:17am
Quoting thewriter30
KumoDragon: thanks! yes, there was, you were really switched on! it was just a spike that crossed it. Great for you. Still, according to many Exits are the key to success along with money management and position sizing, right? So how would you put a long term exit (long term can be 2 days or 10) according to the charts? or you need/use fundamental back up?

Santorini: can you post the charts? one answer would be that as you guess, the settings are wrong, so in one template you have +/-0.25 set up and in the other +-0.50 setup

cheers
No, exits and moneymanagaement aren't the key to success. If they were you could just layer, "good," money managment on top of any method and be a winner. First and foremost the key to success is an, "edge," that either gets you lots of winners vs loser OR the winners are so big they overshadow all your small losers.

AND IME the success of an edge is directly relateable to how good it's entrances are. So far I have 9 straight winners with AL's method. The entrances have all been near perfect, going very quickly into profit and within a few bars hitting my first target the opposite band.

Anyway, no this isn't a traditional trend following method (at least not on 15M) where you enter, check your position every day and move the stop loss with price into profit. As far as 15M, your targets are clearly shown with the TMA bands. IF that's what you want to do I recommend learning a method that trades off of daily candles, anything less is kind of useless to try and, "long term trend trade," off of. For that I can recommend, "forex patterns and probabilities by: Ed Ponsi." That book will at least teach you concrete trend trading pricibles. It has a method, but unless you are REALLY patient, you are going to be waiting a long time for set ups.

I use opposite as first target, try to lock that in, and if price happens to keep going just lock in pips where it looks good. I make it a point to not get greedy and focus on getting that first target.

If you take AL's advice then you would read that, "the market ranges 70% of the time." So, really, I wouldn't worry to much about trend following. If the 70% # is true, that would mean that their is easier money to be made with this 15M method and day trading, and plenty of set ups.
  • #11,237
  • May 31, 2012 7:26am May 31, 2012 7:26am
Quoting Riddermark
Kumo,

Do you use the standard settings for the Bollinger Bands or something custom?

Thanks.

Best regards.
Standard (as that is what I assume most BB users are looking at as well): 20, 2, 0 apply to close.
  • #11,238
  • May 31, 2012 7:31am May 31, 2012 7:31am
KumoDragon, thanks for your thorough answer. I appreciate it. You made me think. I am reading 'Trade your way to financial freedom' at the moment from V. Tharp and HE says that actually (about MM and Exits), I am learning so can't really put my hands on fire on this. That's why I value all real and successful traders opinions until I can find my own trading way.
Are you living on Forex btw?

I am reading every single day for 2 to 4 hours and all I know is ...that I know nothing
I started in 2007 with "all this trading stuff" but I am hardly a little bit more than a newbie. I lost money from being compulsive and stupid basically. I think I learnt my lesson....
  • #11,239
  • May 31, 2012 7:49am May 31, 2012 7:49am
Quoting thewriter30
KumoDragon, thanks for your thorough answer. I appreciate it. You made me think. I am reading 'Trade your way to financial freedom' at the moment from V. Tharp and HE says that actually (about MM and Exits), I am learning so can't really put my hands on fire on this. That's why I value all real and successful traders opinions until I can find my own trading way.
Are you living on Forex btw?

I am reading every single day for 2 to 4 hours and all I know is ...that I know nothing
I started in 2007 with "all this trading stuff" but I am hardly...

Yep, live. If I were you I would latch on to AL's 15M method with both hands. IMO, you've stumbled across an excellent edge.
  • #11,240
  • May 31, 2012 7:50am May 31, 2012 7:50am
nice LHR.
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