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MTF Trix system

  • #541
  • Aug 13, 2009 9:35am Aug 13, 2009 9:35am
Quoting stunna29
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.
I suspect that 15m and 30m could be too close to trade together..maybe I am wrong.

I like 60 ,15, 5 3 1 1 1
30, 5 3 1 1 1
240 15 5 3 1 1 1

I have been trading MTF for quite some time now and the results are very consistent and profitable.
" Never let the past hold the future to ransom "
  • #542
  • Edited 12:40pm Aug 13, 2009 9:40am | Edited 12:40pm
Let me tell you a story that may be from real life and may be not

Senior director is sitting in his office when a junior director comes in and says: "I am afraid that due to difficult financial situation we have to fire half of our staff." Then he takes a deep breath and adds: " But I really am not able to choose as all our people are hard working, well trained, nice persons..." And he puts the huge pack of personal files to the table, looking for senior colleague's help. The Senior thinks for a moment, then after a visual assessment just divides the pack of files into two and says: "These here we are going to fire and these will stay.“
Junior director is breathless: „But how can we do it this way??? I am sure that there are very good people among those you chose...“
„Yes, my friend,“ says Senior director. „I am quite sure there are. But – how could employees with no luck be useful to the company?"

Isn't it the same way as the Forex market treats the traders?
  • #543
  • Aug 13, 2009 9:54am Aug 13, 2009 9:54am
I'd call this system "Boomerang".
Another boomerang trade Red top line TP target at 1.4307
After I take a walk, comeback, and target has been reached,
another +32 just for that trade, other Limit buys are still there
Will set another TOP trade. Nothing to do, don't even have to watch it.
Just set and go. Lower it goes higher profits would be after trend reverses.
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  • #544
  • Edited 11:17am Aug 13, 2009 10:03am | Edited 11:17am
And this is my third and final (so far) volume on the topic.


TEST if you can be a successful trader

Choose one currency pair that you will trade every single day during 3 months at least. (Better to take a rational and well trending pair like GBPUSD.)
Take one trade per day using a very simple principle:

 

  1. Every morning, using pitch and toss, playing cards, dice, drawing lots or whatever method you find out if you are going to sell or buy this day. (NB! You MAY NOT know anything about the market situation before you do it.)
  2. After that you open your trading terminal and without looking at charts open a position with a SL and TP at 150 pips to the direction that you found out earlier by drawing lots.
  3. You do not do anything to the position during the day, in fact, you should just forget about it.
  4. In the evening, before going to sleep you open the terminal and close the position if it is still open, undependently on if it is in profit or loss.

If you trade like this for a longer period (I think, at least 3 months needed and certainly demo account used) then the probability theory says that you should be at breakeven.
If you end in profit then you have got the very important thing for being a trader – luck.
If you end in loss – forget it and do sth useful.

Just my simple version of trading in zone Free of charge
Thank you for your attention and back to trading

  • #545
  • Aug 13, 2009 10:12am Aug 13, 2009 10:12am
By now, I have had 3 cases where my trade manager EA did not work properly and I think it is not the fault of the EA but my br*ker and/or very quick PA.
I personally have lost nothing on this as in all cases more pips were taken than was fixed by me in the settings for first profit. But let us always remember the rule that we all know - never leave any EA absolutely alone.
  • #546
  • Aug 13, 2009 10:23am Aug 13, 2009 10:23am
Quoting Indrek
"never leave any EA absolutely alone."
Exactly, It's possible to perhaps just set Alert, when to enter trades,
and enter them manually? Like when I have a problem yesterday
with FXCM their back connection. Orders wasn't executed for a long time
after submitting, I get lucky not to lose anything, but I don't see how
EA could trade in conditions like this, if you left it unattended.
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  • #547
  • Aug 13, 2009 10:27am Aug 13, 2009 10:27am
10 on EU, 10 on GU and 15 on EY with that setup. Using the higher TF confirmation better suited for me, I think than scalping for 5 pips. I assume you use the Barry Indicator for your TP levels?
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.
  • #548
  • Aug 13, 2009 10:41am Aug 13, 2009 10:41am
Quoting SkyzerFX
Exactly, It's possible to perhaps just set Alert, when to enter trades,
and enter them manually? Like when I have a problem yesterday
with FXCM their back connection. Orders wasn't executed for a long time
after submitting, I get lucky not to lose anything, but I don't see how
EA could trade in conditions like this, if you left it unattended.
If an entry order is not executed then it is quite a good case. Worse if the stoploss is not set.
I would never use an EA for authomatic entries but I certainly need one for managing my positions. Started to use it only last week or so and now cannot imagine how could I live and trade without.
  • #549
  • Aug 13, 2009 10:46am Aug 13, 2009 10:46am
Quoting paradoxical
10 on EU, 10 on GU and 15 on EY with that setup. Using the higher TF confirmation better suited for me, I think than scalping for 5 pips. I assume you use the Barry Indicator for your TP levels?
I trade MTF more as an intraday system, rather than scalping method.
I look for 25 pips minimum as first TP target.
I set TP targets as set out in an earlier post, after 25 pips move stop to BE once first TP is reached.
" Never let the past hold the future to ransom "
  • #550
  • Aug 13, 2009 10:49am Aug 13, 2009 10:49am
Quoting Gleneagles
I suspect that 15m and 30m could be too close to trade together..maybe I am wrong.

I like 60 ,15, 5 3 1 1 1
30, 5 3 1 1 1
240 15 5 3 1 1 1
I agree with you absolutely! Neighbouring TFs usually do not work together. The exception seem to be M15 and M5 that was a surprise for me when I came to this system. I never traded these together before. But here it seems to work somehow.
  • #551
  • Aug 13, 2009 12:12pm Aug 13, 2009 12:12pm
Gleneagles:
Thanks for sharing your setup. It's definitely more in line with what I've been testing out the last few weeks.
1. What are you using for your 15min trix confirmation? The mtf version, or do you have a separate 30min chart up with the standard trix 3,1s on it?
I ask, because as you most likely know, the mtf version has the repainting issue (6 bars in this case). Just curious if you are using it, if you are just taking the trades based off the signal at the time, regardless of whether it changes it's mind a bar or two later.
2. Are you still trading your m15 timeframe as well? Are you running the same setup if so, which I'd guess by your later comments would be 1hr trix confirming for m15 trix entries?
Thanks for sharing!
  • #552
  • Aug 13, 2009 12:50pm Aug 13, 2009 12:50pm
Quoting SwingMan
It gives a little posssibility if we take off the gray line and remains only the nacked histograms. Please remember me in the next days to programe this, than you have the filter.

Hi SwingMan,

and here I am to remember you.

I think I will be very pleased when I can integrate this filter in my charts. And then I will post my charts again on the thread.

If there are pips you can collect - just do it!
  • #553
  • Aug 13, 2009 12:59pm Aug 13, 2009 12:59pm
Quoting Gleneagles
I suspect that 15m and 30m could be too close to trade together..maybe I am wrong.

I like 60 ,15, 5 3 1 1 1
30, 5 3 1 1 1
240 15 5 3 1 1 1

I have been trading MTF for quite some time now and the results are very consistent and profitable.
Looking at your screenshots at post (531/532) It's hard to see that you use
any of the TRIX Indy 60/15/5/ TMF

What exactly you are talking about? Can you please share
your template?

thanks..
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  • #554
  • Aug 13, 2009 1:07pm Aug 13, 2009 1:07pm
Gleneagles,

Is that what you mean?

I still think this is a losing trade.. Trix are lairs and I don't trust them!

I took the trade, let's see how it goes..
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  • #555
  • Aug 13, 2009 1:13pm Aug 13, 2009 1:13pm
heh, this one worked, maybe I was too negative?
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  • #556
  • Aug 13, 2009 1:19pm Aug 13, 2009 1:19pm
Quoting SkyzerFX
Gleneagles,

Is that what you mean?

I still think this is a losing trade.. Trix are lairs and I don't trust them!

I took the trade, let's see how it goes..



Stick to the active trading times like LDN/EUR open and NY.
Once the trading activities drop of, you are into the whipsaws and consolidation.
" Never let the past hold the future to ransom "
  • #557
  • Aug 13, 2009 1:20pm Aug 13, 2009 1:20pm
Ha-ha and I already bought it back for reverse

This is just like another casino )) LOL

It's spook me out thought and I close it for like 5 pips
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  • #558
  • Aug 13, 2009 1:20pm Aug 13, 2009 1:20pm
Quoting SkyzerFX
heh, this one worked, maybe I was too negative?
Don`t worry, maybe it was an accident
If you try hard enough you will find some losing trades.
" Never let the past hold the future to ransom "
  • #559
  • Aug 13, 2009 1:33pm Aug 13, 2009 1:33pm
Quoting tazmaan
Gleneagles:
Thanks for sharing your setup....
I use smscalpersignal indi on individual charts...not the MTF indi. It will draw an arrow on the chart, keeps the charts clean and tidy and gets around repainting issues. Always wait for candle to close before considering a trade.

I take all trades from 5M charts, regardless of the higher TF filter/s.

Obviously all the TF`s in your mix must line up before you consider a trade.
" Never let the past hold the future to ransom "
  • #560
  • Aug 13, 2009 1:39pm Aug 13, 2009 1:39pm
Quoting Gleneagles
I use smscalpersignal indi on individual charts...not the MTF indi. It will draw an arrow on the chart, keeps the charts clean and tidy and gets around repainting issues. Always wait for candle to close before considering a trade.

I take all trades from 5M charts, regardless of the higher TF filter/s.

Obviously all the TF`s in your mix must line up before you consider a trade.

Hello Gleneagles,
I think it would be good if you described your system here once more in a more detailed way. As maybe not all people who find this thread have followed your posts in other threads.
Thanks and nice to have you sharing your knowledge here

My first question regarding your last post would be - if you keep two charts open in parallel, M5 and M30 or how you organize your charts?
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