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Extreme TMA System

  • #11,261
  • May 31, 2012 8:05pm May 31, 2012 8:05pm
AU +43 up +75 12th straight win.

P.S. for those new to the method. My entry and targets are marked by the yellow horizontal lines. The top line is my entry. Entry was the first slight spike. The price went against me 25 pips or so, then started back short.
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  • #11,262
  • Edited 10:40pm May 31, 2012 9:50pm | Edited 10:40pm
Quoting KumoDragon
No, I don't think thats quite it. If I'm not mistaken the gradient is just a visual representation of the slope numbers rising or falling. The slope and the numbers besides them are the the same indicator. So, for short H4 numbers should be negative or ranging. For instance right now the H4 number for AU 4H is -0.15 and 15M is -.07. So, if you see a short set up the numbers are lined up for a short.


At least that's the way I've been doing it. The numbers actually make a better judge than the gradient colored slope IMO. More concrete.

I believe...
Absolutely agreed, that the number represents the slope. As a case study, please consider the following situation: Trading in M15, Rules 1-3 for short are met and look fantastic. H4 is still in the boundary between buy and ranging though, say +0.26, but the visual gradient of the TMA bar chart is already pointing down. Do you still wait till H4=+0.25? Waiting for more hours may miss the golden opportunity. If I am correctly understood, rising and/or falling slope numbers in Al's Rule 4 wording imply to numbers which keep changing and the slope line will certainly help to visualize them. I am not suggesting to ignore the H4 equal to seemingly "static" number. No, not at all! In boundary cases the visual slope line may help us to decide what to do next. Beside this, I use the slope line to find and visualize divergence with the price action. It gives me an extra confidence to enter a trade.

Please correct me, if I am wrong. Thanks...
To excel by continuous learning
  • #11,263
  • May 31, 2012 10:33pm May 31, 2012 10:33pm
Quoting KumoDragon
If you are doing the 15M method you only need to check for an entry at the close of every 15M candle. So, you dont have to be glued to the screen. Even at night if it's only two hours thats 8 bars you can watch over whatever pairs you are watching.

I don't use AL's recovery method, nor do I intend to. Up 12 + trades postive and one of those was +100 pips, I saw several others that if I had more experience with the method I could have had multiple 100+ winners. So, IMO, there is no need for a recovery method or EA, the winners will most likely...
Hey!

1) Thanks for the snapshots. I understand 100%. You don't want people to follow sth and then blame you... You can always post next day or similar. Also I understand about repainting issue so yes I also take the snapshot on entry (or lose it forever

2) Man what happened to the AUSSIE? I wish I was live and trading ) anyway, patience is a virtue. Am at the office so can't trade

3) Question. If you are not glued to the monitor (actually sounds great not to be) wouldn't you miss this trades: Same candle is say on the upper band and it is blue. Same 15m candle touches or crosses the upper band and during those same 15M the bar turns red. Is that valid? do I make any sense ;P? But probably I would rather build a plan that involves NOT being glued to the monitor so your comment is still valid to me

4) out of curosity and by no means pushing, when did you start living of trading? How long did it take you? and did you suffer initial losses that almost put you off trading?

5)Probably because of my learning status but I actually had 450 pips down the second day with trades overnight and I still can't recover those losses (demo of course) ...

CHeers!
  • #11,264
  • Jun 1, 2012 2:20am Jun 1, 2012 2:20am
Quoting tp0440
Hi.


I can't find this two indicators on my MT5, although I'm quite sure I've seen the MTF stohastics somewhere...

Would you be so kind and post them here or sent them to me on PM??


BR
Just google them.
BR.
Master Your Setup, Master Your self. (NQoos)
  • #11,265
  • Jun 1, 2012 2:30am Jun 1, 2012 2:30am
better.
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  • #11,266
  • Jun 1, 2012 2:38am Jun 1, 2012 2:38am
Our Daily Market summary 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.ft.com/intl/markets/currencies
http://www.dailyfx.com/

Summary :
EUR/USD
"What is more likely to happen though will be that the ECB will finally cave in and will become the lender of last resort."
- Royal Bank of Scotland (based on CNBC)
GBP/USD
"GBP/USD is a by-product of euro weakness. It could move lower as there is huge demand to buy dollars."
- Danske Bank (based on Reuters)
USD/JPY
"If this risk-aversion in the market (further) affects the stock and foreign exchange markets, that could worsen the sentiment among consumers and corporations [in Japan] and put downward pressure on the real economy."
- Motohisa Furukawa, Japan's economy minister (based on WSJ)
USD/CHF
"The U.S. dollar is the gainer for now because of risk aversion. There will be more downside risk for today for market sentiment."
- Forecast Pte (based on Bloomberg)

Guys US Jobs, US Jobs, US Jobs Report be Careful out there.

Trade Pattern Idea :
USD/CHF Emerging Pattern: Rising Wedge

Daily Trading Wisdom :
"Become one of the successful few who build stone upon stone until they have a solid foundation of knowledge and experience which will last them all their lives. You cannot go into any phase of endeavor and make money or become prominent 'just like that' - you must serve your apprenticeship. -- Richard Wyckoff"

Have a nice US Jobs Day.
Master Your Setup, Master Your self. (NQoos)
  • #11,267
  • Jun 1, 2012 3:53am Jun 1, 2012 3:53am
This System don't work, be careful!!

@ AL
have to explain on examples who he trade with it.
The rules on page 1 are not enough.
  • #11,268
  • Edited 4:13am Jun 1, 2012 4:02am | Edited 4:13am
Quoting thewriter30
Hey!

3) Question. If you are not glued to the monitor (actually sounds great not to be) wouldn't you miss this trades: Same candle is say on the upper band and it is blue. Same 15m candle touches or crosses the upper band and during those same 15M the bar turns red. Is that valid? do I make any sense ;P? But probably I would rather build a plan that involves NOT being glued to the monitor so your comment is still valid to me
Why do you think the trade would be missed on such a bar making color changes before it is closed? Perhaps you would miss the very first opportunity to enter according to the rules, but that does not mean the trade is lost. There can still be, and usually is, a perfectly valid entry condition on the open of the next bar. You really don't have to enter at the very top/bottom of a move and exit at the very bottom/top of the leg. On M15 and bigger, there are plenty of pips in the middle of the leg that are much safer to take.

If you're looking for confirmation rather than simply entering by the rules (which we know from the postings made during the past couple of months can put you into recovery or big SL hit), then drop to the M5 and look for traditional confirmation patterns.

DrDave
To free Gazans of Hamas, use whatever it takes.
  • #11,269
  • Jun 1, 2012 4:12am Jun 1, 2012 4:12am
nice.
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  • #11,270
  • Jun 1, 2012 4:13am Jun 1, 2012 4:13am
Quoting starlighter
This System don't work, be careful!!

@ AL
have to explain on examples who he trade with it.
The rules on page 1 are not enough.
starlight, you mean to say "This sytem don't work for me, be careful!!" If you have read even 20 pages of the thread, you'll see there are many people that are making a lot of pips using the method.

Did you actually try making some trades? If yes, how many? How many weeks or months (maybe only minutes?) did you spend at the charts looking for setups? Do you have any screen captures to present that show your entries and exits so they can be scrutinized for correctly following the rules? Did you read the part that says the Extreme TMA system works best in ranging markets, but we have been seeing TRENDING markets the past few months?

You presented absolutely no evidece to support your claim. Hmmm. I hear that you are a dope head that pimps out his mother and sister to get drug money. OH, do I need to present some evidence for my claims, or can I just throw them out there as you did?

DrDave
To free Gazans of Hamas, use whatever it takes.
  • #11,271
  • Jun 1, 2012 5:14am Jun 1, 2012 5:14am
Quoting DrDave
starlight, you mean to say "This sytem don't work for me, be careful!!" If you have read even 20 pages of the thread, you'll see there are many people that are making a lot of pips using the method.

Did you actually try making some trades? If yes, how many? How many weeks or months (maybe only minutes?) did you spend at the charts looking for setups? Do you have any screen captures to present that show your entries and exits so they can be scrutinized for correctly following the rules? Did you read the part that says...
Ckeck your private messages on the forum please.
Master Your Setup, Master Your self. (NQoos)
  • #11,272
  • Jun 1, 2012 5:36am Jun 1, 2012 5:36am
Quoting sandrutza
If the first time you click on the 12 Smoothed MA, you only see the following choices : "Close, Open, High, Low, Median Price, Typical price, Weighted close", then click "OK" on the dialog window to apply the mooving average to the chart. Then, re-open the same dialog window with the MA settings and you will see 2 new choices appear "First indicator data" and "Previous indicator data".

When you right click on a chart ans select "Indicators list", you need to make sure the first indicator on the list is "Extreme TMALine" corresponding...
Sandrutza - Thanks for the explanation but I still can't get it to do correctly.
1. I right click on 12 MA 2. The dialog box comes up and shows 12 MA, smoothed, close 3. I click on "close" and the dialog box pops up and I click on "First Indicators Data" 4. I click on "OK" and return to my screen
No change - so I go back and look - guess what - 12MA dialog box shows it is based on "close" not on "first indicators data". Over and over this happens. I do not know what else to do. It may not make much difference because it is working quite well but I would like it to be correct and see if there is a difference.
Tom
  • #11,273
  • Jun 1, 2012 5:48am Jun 1, 2012 5:48am
Quoting starlighter
This System don't work, be careful!!

@ AL
have to explain on examples who he trade with it.
The rules on page 1 are not enough.
12 straight wins live, equaling 452 pips, following just the rules on page one say you are wrong.

Me thinks you are probably just a poor trader or messing something up badly. How about telling us your trading parameters (such as SL, TP time frame traded....ect.) and posting some of your failed trades so someone can help you, rather that screaming, "system don't work."

No method is 100% blind and mechanical. Even in this one the traders judgement and experience comes into play.

I know from first hand experience that (doing it myself) that any system can be screwed up. Two different traders can and often do have very different results with the same methods. The devil is often in the details.
  • #11,274
  • Jun 1, 2012 5:52am Jun 1, 2012 5:52am
Quoting KumoDragon
12 straight wins live, equaling 452 pips, following just the rules on page one say you are wrong.

Me thinks you are probably just a poor trader or messing something up badly. How about telling us your trading parameters (such as SL, TP time frame traded....ect.) and posting some of your failed trades so someone can help you, rather that screaming, "system don't work."

No method is 100% blind and mechanical. Even in this one the traders judgement and experience comes into play.

I know from first hand experience that (doing it myself)...
Be cool guys.
Master Your Setup, Master Your self. (NQoos)
  • #11,275
  • Jun 1, 2012 6:01am Jun 1, 2012 6:01am
Quoting PeepCzar
H4 is still in the boundary between buy and ranging though, say +0.26, but the visual gradient of the TMA bar chart is already pointing down. Do you still wait till H4=+0.25? Waiting for more hours may miss the golden opportunity...
As I understand it, if you see a short set up and both 4H and 15M numbers are ranging you can take a short. So for shorts its would be; 4H short 15M short, OR 4H short 15M ranging, OR 4H ranging 15M short....both ranging.

I trade 15M with this So, if I see a set up a one digit move isn't going to take hours. +.26 would likely change to ranging before a set up. But, If I saw a good set up and numbers were just 1 digit away I would probably take it if it was off a good spike, as price would have already made an extreme move. (going against the rules so I dont recommend, but I can sometimes be a chancer and jump the gun) The way I look at the spike is this: if the spike is off a 50+ pip move up (or more) for short I think that is great because the long move has been spent by that much in recent price action. And price likes to return to where it's recently been.

I always aim for the other TMA band as a target from entry, it gets hit pretty darn consistently from opposite spikes. I also marke my entry and opposite band at time of entry as the bands move.
  • #11,276
  • Jun 1, 2012 6:04am Jun 1, 2012 6:04am
Quoting bassramy
Be cool guys.

That is me being cool. I'm just blunt, when someone else is. I offerred to help, though I doubt he'll take the offer.

Coming in here and screaming, "this doesn't work," smells of a troll. Or at the least someone screwing up badly and wanting to blame something other than himself.
  • #11,277
  • Jun 1, 2012 6:24am Jun 1, 2012 6:24am
Quoting thewriter30
Hey!

1) Thanks for the snapshots. I understand 100%. You don't want people to follow sth and then blame you... You can always post next day or similar. Also I understand about repainting issue so yes I also take the snapshot on entry (or lose it forever

2) Man what happened to the AUSSIE? I wish I was live and trading ) anyway, patience is a virtue. Am at the office so can't trade

3) Question. If you are not glued to the monitor (actually sounds great not to be) wouldn't you miss this trades: Same candle is say on the upper band and...

2. Ya Aussie moved nice. I only took +46. It went 90 then I locked in, stopped me out by the round number and now is 100+ Should have took 90 when it did the first dip on me. 3rd time I'm out larger pips locking in and hanging on for more. I think I'm seeing a personal pattern here. Moral of the story for me...take the big dip when you see it.

3. You might. But, if you check your monitors every 15M candle close you should still find them, maybe not as soon as they turn red. I'm finding that even when the turn red and go, they usually retrace to entry before the meat of the move anyhow.

4. I don't live off of trading. I run my own businesses from home and that allows me to trade as well. Trading is another venture for me. I've been trading forex and stocks on and off for the last decade. Yes, I have made and lost thousands of dollars trading, none of it life changing though. Don't ever trade what you can't afford to lose. Don't trade your life savings or bet the farm. Yes, I've thought of quitting. I've recently came off a 6 month break from forex, after health issues and not finding an edge I'm confident in and becoming frustrated. ( A bit early too tell, but I'm pretty confident AL's method is a very strong edge...it's the strongest method I've traded thus far and easy to understand AND most importanty it isn't irratic and doesn't to be changed for different types of market conditions...though he says it works best in ranging I can see that it works in trending, even though you'd have to wait longer for an entry.)

5. I recommend taking trades on only 1-2 pairs at time. The reason is all of the pairs are corolated to or somewhat effected by the USD. So, basically almost any pair you are in some sense trading USD. So, if you are in five pairs at once and the USD has a big move.... You are basically betting 5x the USD. If you are going to do that, you are better off doing tight TA on 1-2 pairs and putting 5x risk on one pair. Probably the reason you lost 450 pips in one night, you entered five pairs and got caught in a continuation move?

You don't need to get all the moves from all the pairs. The 20-30 pip trades add up very quickly.

I watch EU,GU, Nzd/USD, AUD and that is it. I picked those because they all generally run in the same direction and make similiar patterns, so that is another trend of moment indicator. Plenty of trades so far. I know AL said he watches like 18 or something. To me that is crazy talk. I tried watching five and I couldn't keep my head straght as to which ones I thought were in a trend which way. If you are new don't watch more that 4 pairs IMO. If you are patient, even better watch 1. EU or GU.
  • #11,278
  • Jun 1, 2012 7:03am Jun 1, 2012 7:03am
i am happy about constructive criticism and no offensive.

can someone send me a good template for working with it.

i would try in further attached my charts here and you can criticize my entries.
  • #11,279
  • Jun 1, 2012 7:11am Jun 1, 2012 7:11am
Thank for both answers Mr Dragon and Dave. I guess my understanding is that if I miss the colour change, there is still room to make pips...good point.

The market seems trending a lot so I can't really see any oportunities to practice AL''s method at the moment. right?

I am re-reading other entry rules like Triangle, Double Bottoms, divergence etc. but my (untrained) eyes and little experience tell me that as I think Al said, the market trends only 30% of the time so I rather have a system for ranging markets and let this trending end. When I lost money was actually with this trending patterns that I saw failing once and over and again...

Thanks for sharing your life with me KumoDragon, very nice indeed. I am an office guy that dreams with not ending his last days in an office reporting to some boss/es.
I dont think trading is easy, i actually find it would be a full time job but I love the idea of being able to live anywhere (with an internet connection) and of course, being my own boss...
  • #11,280
  • Jun 1, 2012 7:19am Jun 1, 2012 7:19am
Quoting starlighter
i am happy about constructive criticism and no offensive.

can someone send me a good template for working with it.

i would try in further attached my charts here and you can criticize my entries.
Templates are already attached in the first post packet. It has all the templates and indicators.

"lorente large," is the template currently being used.
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