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Extreme TMA System

  • #11,281
  • Jun 1, 2012 7:24am Jun 1, 2012 7:24am
Quoting thewriter30
Thank for both answers Mr Dragon and Dave. The market seems trending a lot so I can't really see any oportunities to practice AL''s method at the moment. right?

..
No, theres entries in trends. It's just that in tight range, you'll get more entries because you'll be able to hit a pair from both the top and bottom and play ping pong as it goes sideways. You get extreme spikes in trends too.

Also, watching the charts without trading is good practice to see the waves, and strenghthening your patience. Just wait for the signals, they will come.
  • #11,282
  • Jun 1, 2012 7:25am Jun 1, 2012 7:25am
Quoting KumoDragon
Templates are already attached in the first post packet. It has all the templates and indicators.

"lorente large," is the template currently being used.
that i know and i read it. maybe you find in time a better method why i ask
  • #11,283
  • Jun 1, 2012 7:34am Jun 1, 2012 7:34am
Quoting starlighter
that i know and i read it. maybe you find in time a better method why i ask
Nope, I'm using the same method as described in post 1. Only thing I added to the template was a bolinger band and a round number indicator.

Method works great because you don't enter until price has moved to an extreme that it is likely to retrace from. Add to that what look like the strongest trend of the moment, as judged by you the trader, and it's even stronger.

Want a good short? Wait for price to go long and spike above the TMA top band, within short trend. Opposite for long. Couldn't be simpler. Maybe that is where you are going wrong? Are you trying to short from the bottom? Long from the top?

As I asked in our private message, is there anything in particular you are having trouble understanding?
  • #11,284
  • Jun 1, 2012 7:36am Jun 1, 2012 7:36am
Unemployment news reaction. Careful if you are in now.
  • #11,285
  • Jun 1, 2012 7:48am Jun 1, 2012 7:48am
Quoting KumoDragon
Nope, I'm using the same method as described in post 1. Only thing I added to the template was a bolinger band and a round number indicator.

Method works great because you don't enter until price has moved to an extreme that it is likely to retrace from. Add to that what look like the strongest trend of the moment, as judged by you the trader, and it's even stronger.

Want a good short? Wait for price to go long and spike above the TMA top band, within short trend. Opposite for long. Couldn't be simpler. Maybe that is where you are...
So KumoDragon, this is what's happening at the moment in USDJPY, right ?
Now we will wait for a reversal signal and of course a change in colors of Trix4kids indicator for a long entry. Please correct me if i'm wrong.

BR
There is no place for wimps
  • #11,286
  • Jun 1, 2012 7:54am Jun 1, 2012 7:54am
Here is my last AU short trade where I was stopped out at +46 pips. As you can see, if I had put my stop up just a few pips I'd be sitting pretty right now with over +100 pips.

Entry is top horizontal gold line, my + exit is the bottom one.

I'm posting this because it's a good example of how price plays around round numbers. It doesn't always do it this way. Sometimes is hesitates and plows through, sometimes it bounces hard but usually it's more irritating and waggles around them before going either way. To me an entry bouncing off a round number is all the stronger of a signal.

Round numbers can also give you a good point to take profit if the trade is close to a target.
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  • #11,287
  • Jun 1, 2012 7:59am Jun 1, 2012 7:59am
Quoting BraunTrade
So KumoDragon, this is what's happening at the moment in USDJPY, right ?
Now we will wait for a reversal signal and of course a change in colors of Trix4kids indicator for a long entry. Please correct me if i'm wrong.

BR
NO, no long. H4 is negative numbers AND pair is more strongly trending short. (-41 on my chart, which is well out of ranging) By the rules if you wanted a long, the 4H numbers would have to be in ranging mode for a 15M entry. (As well as the 15M)

If anything wait for it to creep back up for a possible short.

Unless it goes back up to the extreme long position for the short, it looks like that one might have flown the coop already. I'm waiting on EU myself, dont know If I'll get an entry today. I also dont like how the TMA channel is only 20 pips wide (on UJ). Not a lot of meat on that bone from the top, even if it does go back up, for the short.

Just because price goes above/below TMA it doesn't automatically mean it's a trade. Check the overall trend, by checking slope drection/slant of D1, 4H,1H, 15M TMA bands. And follow the rules for the 4H/ 15M slope numbers...its been working well as filter for me so far.
Attached Image (click to enlarge)
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  • #11,288
  • Jun 1, 2012 8:06am Jun 1, 2012 8:06am
Is round number an indicator?
  • #11,289
  • Jun 1, 2012 8:11am Jun 1, 2012 8:11am
P.S. Also it is Friday. Even without news Fridays can often be very whippy and have wild moves. Reason being is lots of traders and financial institutions are getting out of trades and taking profits. So, be extra careful on Fridays even without news.
  • #11,290
  • Jun 1, 2012 8:12am Jun 1, 2012 8:12am
Quoting ncc74656
Is round number an indicator?
There are indicators all over the place for round numbers. Do a search you'll find a zillion. Round numbers are just every 50 and 00. Price bounces because of psyche levels/human nature.
  • #11,291
  • Jun 1, 2012 8:19am Jun 1, 2012 8:19am
Quoting KumoDragon
NO, no long. H4 is negative numbers AND pair is more strongly trending short. (-41 on my chart, which is well out of ranging) By the rules if you wanted a long, the 4H numbers would have to be in ranging mode for a 15M entry. (As well as the 15M)

If anything wait for it to creep back up for a possible short.

Unless it goes back up to the extreme long position for the short, it looks like that one might have flown the coop already. I'm waiting on EU myself, dont know If I'll get an entry today. I also dont like how the TMA channel is only...
Ok, UJ is out of game. But, right now EU is ranging and H4 is negative (-0.63 on my chart). So, in this case you'll wait a touch in the top band to go short, or jump in right now in a better price close to round number (like 1.2350) ?

BR.
There is no place for wimps
  • #11,292
  • Jun 1, 2012 8:23am Jun 1, 2012 8:23am
Quoting BraunTrade
Ok, UJ is out of game. But, right now EU is ranging and H4 is negative (-0.63 on my chart). So, in this case you'll wait a touch in the top band to go short, or jump in right now in a better price close to round number (like 1.2350) ?

BR.
As per the rules I wait for price to CROSS the top TMA line, which EU did a little, NOT JUST TOUCH.

Then I'll wait for either a RED HK to start forming and or the fast trix to change color. If you enter on touch you could very well get in on a long run.

I also use the BB. Bolinger Band is splayed right now, so it could turn into a BB run.

The more it spiked upward, the more potential the short has, so I bigger spikes above below make me happier about the trade. That way it's more extreme and likely to rubberband in your direction more.
  • #11,293
  • Jun 1, 2012 8:29am Jun 1, 2012 8:29am
Quoting BraunTrade
Ok, UJ is out of game. But, right now EU is ranging and H4 is negative (-0.63 on my chart). So, in this case you'll wait a touch in the top band to go short, or jump in right now in a better price close to round number (like 1.2350) ?

BR.
P.S. Make sure and trade your own charts though and what you see. I'm not giving any advice here on what trades to take. So, please dont take trades based on something I say. I'm just saying what I see according to the rules for this method.
  • #11,294
  • Jun 1, 2012 8:32am Jun 1, 2012 8:32am
for a paper trade only practise:

eu short now

rules:
- course outside the band on m15
- h1 and h4 negative under -0,25

right for short entry?
  • #11,295
  • Jun 1, 2012 8:34am Jun 1, 2012 8:34am
Quoting KumoDragon
As per the rules I wait for price to CROSS the top TMA line, which EU did a little, NOT JUST TOUCH.

Then I'll wait for either a RED HK to start forming and or the fast trix to change color. If you enter on touch you could very well get in on a long run.

I also use the BB. Bolinger Band is splayed right now, so it could turn into a BB run.

The more it spiked upward, the more potential the short has, so I bigger spikes above below make me happier about the trade. That way it's more extreme and likely to rubberband in your direction...
So, this is what you're talking about ? A good entry should be when RED HK to start forming and or the fast trix to change color to red, right ?


BR
Attached Image (click to enlarge)
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There is no place for wimps
  • #11,296
  • Jun 1, 2012 8:35am Jun 1, 2012 8:35am
Quoting starlighter
for a paper trade only practise:

eu short now

rules:
- course outside the band on m15
- h1 and h4 negative under -0,25

right for short entry?
Nope. The numbers are right, BUT, there is no Red HK candle yet and the fast trix has yet to change color. You watch for the spike past, but then you need the signal that shows price may be changing.

If you go in now you are trying to guess the top of the spike.
  • #11,297
  • Jun 1, 2012 8:38am Jun 1, 2012 8:38am
Thinking of shorting EU but waiting for the signal.

I think what we are seeing here is the, "Hey it's friday, lets run all the stops retail traders have put while riding short all week," move.
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  • #11,298
  • Jun 1, 2012 8:42am Jun 1, 2012 8:42am
Quoting KumoDragon
P.S. Make sure and trade your own charts though and what you see. I'm not giving any advice here on what trades to take. So, please dont take trades based on something I say. I'm just saying what I see according to the rules for this method.
Please my friend do not misunderstand me, your help have been very welcome, and i'll do not trade on my live account just based on forums speeches. Like i said i'm a newbie and i'm practicing a lot and learning with help of people like you. Again, thank you for share your skills with me.
There is no place for wimps
  • #11,299
  • Jun 1, 2012 8:43am Jun 1, 2012 8:43am
Quoting BraunTrade
So, this is what you're talking about ? A good entry should be when RED HK to start forming and or the fast trix to change color to red, right ?


BR
Yes, but keep in mind it's Friday. It could very well give you a trix/ red candle start and then go up even more.

But, from bottom to top it's already moved 170 pips Long. So, long moves could very well be exhausted.

Demo it or trade with very small lots, until you get confident. There is always another trade. No need to jump in on this one.

Don't trade of because what I say. You should trade when you know the method for yourself.
  • #11,300
  • Jun 1, 2012 8:49am Jun 1, 2012 8:49am
Quoting starlighter
for a paper trade only practise:

eu short now

rules:
- course outside the band on m15
- h1 and h4 negative under -0,25

right for short entry?
the some for eurjpy short
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