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MTF Trix system

  • #521
  • Aug 12, 2009 5:00am Aug 12, 2009 5:00am
Quoting Indrek
I already posted the EA that I use. And all questions that you asked have been also answered. So, happy reading at first
My apologies... I will go back to page 1 and start again... It's obvious I have skimmed through it all too quickly... Too keen to make profit! Thanks.
How do you make a small fortune in Forex? Start with a large one!
  • #522
  • Aug 12, 2009 5:11am Aug 12, 2009 5:11am
If I ever go to Estonia I will take you up on the offer...

Quoting Indrek
This is my second trade for today. Used the same setup (thanks, sirogreness, whenever you come to Estonia, beers are on me ).
Traded double position as usual, took 13 pips on the first half and was stopped out on the second.
That's it for today, two trades and 48 pips
  • #523
  • Aug 12, 2009 6:47am Aug 12, 2009 6:47am
Quoting paidperpip
Just wanted to say Hi to the folks over here... Have been in the C4/Nitro thread for a while, and it was nice to have another thread to haunt...

I have a question... Obviously this thread is more orientated towards C4 and even M80 (especially in terms of profit targets)....
I'd be careful of what is said over there. It seems that lying, cowardly sack of sh*t doesn't know whether he's coming or going. The contradictions are endless.

Stated on May 17th:

Quoting Edgetrader
A win/loss ratio is irrelevant when trading in a 'probability theory' mindset and positive expectancy is foremost above all else as, without such, ANY trading plan will fail in the long run.
Thread started on July 10th:

Quoting Edgetrader
Note: Trading this methodology is not going to give you a 1:1 R/R. Scalping is built on probability theory as mentioned. Further, PA will tend to repeat small intricate movements repeatedly. This is simply historical fact. As such, a scalping plan is based upon a decent win/loss percentage and very good MM. Just playing the odds and trying to stack them in your favor now and then.
Stick to what Indrek says, makes much more sense, and at least it's open to debate.
  • #524
  • Aug 12, 2009 7:15am Aug 12, 2009 7:15am
Indrek, I think the dx trade set at two is better for this setup. You are on to something. I still like the 3 as an indie on the bottom, it is great for minimizing losses...
  • #525
  • Aug 12, 2009 8:34am Aug 12, 2009 8:34am
Quoting sirogreness
Indrek, I think the dx trade set at two is better for this setup. You are on to something. I still like the 3 as an indie on the bottom, it is great for minimizing losses...
Trix 2,1,1,1 is very choppy but if filtered by higher TFs then it is not a problem. And as said before, Trix2 and Momentum(4) give the same signals. So, basically we could get rid of one of them.
  • #526
  • Aug 12, 2009 8:42am Aug 12, 2009 8:42am
Very similar to a number of traders on this thread.
I have been requested by many for my strategy thus this post.

I am no programmer so am trying to use the tools I have which have been kindly provided by swingman and DXtrader.

I trade ALWAYS with higher TF participation. The more TF's in synch. you are increasing the probability of the trade in your favour.

We have two basic Trend indicators....
1. Moving average (WMA or HULL are mentioned alot) WMA is in the indicator programmed by DXtrade.
2. Trix....many versions by swingman we all have a choice.

Indicators used:
1. smC4 Scalper Candles_v3: set at 3,1,1,1,C....Why for Re-entry of trades.
2. Fibonacci Pivots
3. MA in Color_wAppliedPrice: a) 8,3,6 and b) 32,3,6...why lets me know the short term trend and longer term trend.
3. smUltraSuper TRIX_PV_V2 which has the two horizontal lines coded in it. ,,,,, why....Trading when the histogram bar is above or below will remove the ranging noise .... thus adding more probability trades in your favour. settings 7,1,1,1,C. why....similar to M15 trix TF.
4. Dxtrade C4 Nitro Meter: T1=M5 T2=M30 and M=4 (default)
5. Dxtrade C4 v3.2 : set at trix 3, MA=8.....MA_2=32 ..small magenta and blue arrows.
6. Dxtrade C4 v3.2 : set at trix 7, MA=8.....MA_2=32 ..large magenta and blue arrows.

LARGE ARROWS for first entry....SMALL ARROWS for Re-entry...


So the logic: first trade always on big arrow and T1.T2.M=same colour. TRADING WITH THREE TRIX TF.as well as.... MA with two TF participation

Re=entry on small arrows..

TP and SL follow your own... I exit 10 pips at this stage.... trailing stops are better. I may change later....

SL is mental at S&R or roughly 20 pips

I have been trading for a few years... I use alot of traders discretion..

I may use some security blanket favourite indicators from time to time. If I leave them on my charts... ignore...

I trade using 1% of my account...for each trade....

Session times: I live in the part of the globe... where I can trade Asian and LONDON easily... NY if I have not met my daily goal of 40 pips.

ALL INDICATORS ARE FOUND ON THE PAPERCLIP on C4 thread....

I DO NOT LIKE TO BE ASKED TOO MANY QUESTIONS WHICH I HAVE GIVEN THE INFORMATION ALREADY.

I encourage self reliance, and independant learning as much as possible....

PLEASE READ AND RE-READ before asking any questions.

Thanks,
Lrathi
Attached Image (click to enlarge)
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  • #527
  • Aug 12, 2009 9:04am Aug 12, 2009 9:04am
Lrathi,
Thank you very much for such a good overview. Basically the same setup with small personal adjustments and modifications.
The biggest difference I see is that you take trades mostly from higher TF (Trix 7,1,1,1) and use current one only for re-entries. So, in fact you are a M15 trader with this system. This should leave enough room for trailing stop activities that you mentioned as a possible direction of development.
Good!
  • #528
  • Aug 12, 2009 10:19am Aug 12, 2009 10:19am
Quoting lrathi
Very similar to a number of traders on this thread.
I have been requested by many for my strategy thus this post.

I am no programmer so am trying to use the tools I have which have been kindly provided by swingman and DXtrader.

I trade ALWAYS with higher TF participation. The more TF's in synch. you are increasing the probability of the trade in your favour.

We have two basic Trend indicators....
1. Moving average (WMA or HULL are mentioned alot) WMA is in the indicator programmed by DXtrade.
2. Trix....many versions by swingman we all have...
Lrathi

All I can say is FANTASTIC, and THANKYOU!

PGPB
  • #529
  • Edited 2:51pm Aug 12, 2009 2:29pm | Edited 2:51pm
Irathi,

Thank you very much for sharing!!

Regards
Caz
  • #530
  • Aug 13, 2009 12:24am Aug 13, 2009 12:24am
Hello everybody,
Today is a day of news, so have to be careful. I expected uptrend for today, that is why I decided to take a weird trade after a huge candle. Got 12 pips on first half and was stopped out at BE on other. BTW, my "take first profit" is set to 10 pips for EU but probably due to quick PA, this time I collected 12
Attached Image
  • #531
  • Aug 13, 2009 3:27am Aug 13, 2009 3:27am
+25 +35

+25 re-entry

30M 3 1 1 1
5M 3 1 1 1 entry

SL 30
TP1 25
TP2 35
TP3 50

TS 25
Attached Image (click to enlarge)
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" Never let the past hold the future to ransom "
  • #532
  • Aug 13, 2009 3:30am Aug 13, 2009 3:30am
Yesterday

+25
+35
+50

30M 3 1 1 1
5M 3 1 1 1 entry
Attached Image (click to enlarge)
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" Never let the past hold the future to ransom "
  • #533
  • Aug 13, 2009 3:55am Aug 13, 2009 3:55am
+25
+35
+25
+17

Reached daily target/limit.
Attached Image (click to enlarge)
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" Never let the past hold the future to ransom "
  • #534
  • Edited 5:28am Aug 13, 2009 5:18am | Edited 5:28am
Indrek, check this out that's a #1 screen shot from yesterday

Now EU is around $1.43 - see how many pips there???

#2 Show you how fast scalpers can lose money especially if no SL is in place
(I don't use them at all)
"Perfect SELL" and I was As usually buying averaging down
then, monster move up 50 pips for me on 5 positions (sorry, did sold it first
then took a pic pair was moving too fast) no more trading needed
So far no losses.. 100% win.

By the way FXCM sucks! Their execution time can be as long as 1 min and
they going to make sure to sell at the lowest/highest to make profit for themselves
I'm done with them, but still going to use them to Hedge my open positions in case
trend reverses as I cannot SELL and BUY the same pair at my US broker
Attached Image(s) (click to enlarge)
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Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #535
  • Aug 13, 2009 5:56am Aug 13, 2009 5:56am
I assume You're entering the trade when the 5 minute time frame agrees with the 30 minute time frame using the MTF SM trix set at 3,1,1,1. Where are they on your charts? Also, what indicator is attached to give you the arrows shown?
Quoting Gleneagles
Yesterday

+25
+35
+50

30M 3 1 1 1
5M 3 1 1 1 entry
  • #536
  • Aug 13, 2009 6:18am Aug 13, 2009 6:18am
This was my second and last trade for today. Took it from Renko chart as the candlestick chart was also pointing north. But right after the entry, situation became very stressful. So, I just left my position running and went away from my computer. As seen from the chart - my stop loss (the dark red horizontal line) was missed only for ONE pip and the trade turned to be a winner after all. I am more than ever convinced that with proper RR ratio, a hard SL is the best choice. With this you avoid all that mental/psycho crap that (at least for me) has been the biggest problem so far in my trading.
The way how my SL has survived in this and other cases, shows also that maybe I have found quite good settings for SL (EU 26, GU 33) and should now concentrate on TP. So far, I have had very modest targets, so there is plenty of room for improving this side also.
Attached Image (click to enlarge)
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  • #537
  • Aug 13, 2009 6:23am Aug 13, 2009 6:23am
Quoting paradoxical
I assume You're entering the trade when the 5 minute time frame agrees with the 30 minute time frame using the MTF SM trix set at 3,1,1,1. Where are they on your charts? Also, what indicator is attached to give you the arrows shown?

Right, I wait for 5m and 30m to line up.
I use smscalpersignals to draw the arrows on the charts, I use it instead of Trix to keep my trading chart clean.
" Never let the past hold the future to ransom "
  • #538
  • Aug 13, 2009 6:54am Aug 13, 2009 6:54am
Quoting Gleneagles
+25
+35
+25
+17

Reached daily target/limit.
great to see you back.... with your MTF trades.

I have had a good week... with mtf trix...
Still working on the trailing stop side of things.
  • #539
  • Aug 13, 2009 7:09am Aug 13, 2009 7:09am
Quoting Gleneagles
Right, I wait for 5m and 30m to line up.
I use smscalpersignals to draw the arrows on the charts, I use it instead of Trix to keep my trading chart clean.
Hey Glen,what do you think about me trading from the 15min chart and use 15MTF(3,111) with the 30min MTF set at 3,111 as my conformation?.Thanks.
  • #540
  • Edited 10:47am Aug 13, 2009 7:17am | Edited 10:47am
As people in FF are usually interested not only in indicators and stuff like this but think much also about how probability theory works in trading, what skills and mindset are necessary for this job etc etc, I use the right and possibility to add my point of view.
At first, some general things that I believe in:
1. More than 50 % of people should never drive a car. It would be safer for themselves and for others.
2. The 80:20 theory works in every sphere of human activity.
3. Whatever profession or activity we take, only 20 % of people can be successful in it because they have the gift.
4. From these 20 % another 20 % may become very good if they are in a right place at the right time and do the right thing. So, 4 % have the chance, and the same theory says that 0.2*4%=0.8% achieve it.
4. If a monkey can be taught to play drums (at least somehow) then almost every human being can be taught to trade forex around breakeven level.
5. What a successful trader needs is - knowledge, talent, luck.
6. Talent and luck are in very tight connection as people generally can be divided to those who tend to have luck and to those who tend to fail in most things that they ever do.
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