Greatly appreciate your posts, Glenn.
Keep them coming.
Keep them coming.
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DislikedI did not mean that there is sth wrong but vice versa is just simpler. I trade only from lower TF to the direction of higher ones, even have not thought about turning the thing upside down... And I have absolutely enough trades while catching these retracements.
And when I trade from H1 charts then I do not look at M5 but only H4 and D1.Ignored
DislikedAs I said before, there are different ways to trade MTF.
The main thing is that it works!
Whether you use confirmation from small to large or large to small is OK if it adds to the bottom line.Ignored
DislikedYou are correct!
That is the first trend signal.
If you take an entry after that...let say the 5M chart has gone long and you are flat..no position... and the 5M signals another short...30M still confirms..I term that as a reentry.Ignored
DislikedHere's a chart on one of the trades with notes. Trading the 5 minute off the 30 minute has been working well when I stay with the current overall trend. Usually when the 30 minute and 5 coincide, the rest do also, but not all the time. Only going for 10 pips max for now. This works better for my schedule than the C4 5 pip scalp. Probably because I can see the trades develop better. If I get a signal on the 5 minute chart, I don't even consider it unless it matches the 30 minute. Easier for me to see the possibilities of a pair getting close to matching...Ignored
DislikedYou got it Paradoxical!,now lets stick to this plan like glue and make some money ,Thanks again Glen and Indrek,well done both of you..This thread is getting better as the days goes by.Ignored
DislikedHere's a chart on one of the trades with notes. Trading the 5 minute off the 30 minute has been working well when I stay with the current overall trend. Usually when the 30 minute and 5 coincide, the rest do also, but not all the time. Only going for 10 pips max for now. This works better for my schedule than the C4 5 pip scalp. Probably because I can see the trades develop better. If I get a signal on the 5 minute chart, I don't even consider it unless it matches the 30 minute. Easier for me to see the possibilities of a pair getting close to matching...Ignored
DislikedStill took one more trade, a lot of adrenaline in it... When I opened it, all Trixes showed south. But I am never going to complain about MTF Trixes repainting. The most important thing is that they work for me.
Now I think I have to throw my computer out of the window to avoid more trades at this absolutely wrong time
Weekly result just improved to 365 pipsIgnored
DislikedThis post is for Irathi, who asked a Q earlier about long term Trix trades using 240M as a trend filter.
In crosshair mode do the following:
Place crosshair on next candle after signal candle ( i.e. your " entry point)
Left click and hold the button down and drag a line to any point on the chart.
You will get a reading in pip value as you drag the line across the chart.
Attached is a 240M GBPUSD chart, using the method described above, " measure" the pip value of the 240 Trix swings.
Bear in mind that it is often...Ignored
DislikedJust a quick comparison of how I would have traded this trade.
In the end not much of a difference!
1) Red vertical line marks the 60M trend change (short)
Only looking for short trades after that.
2) First sell signal (yellow arrow) is valid because it formed a new low
3) Second sell signal (yellow arrow) is not valid because it did not form a new low
4) Third sell signal did not form a new low either.
The entry point for me would have been in the bear candle after the white doji candle at approximately 16519 when a new low was formed.
If...Ignored
DislikedThanks for this...
Have done the excercise....
Shall wait for the next lesson...
Maybe slight delay in responses due to living in the southern hemisphere.
With appreciationIgnored
DislikedThat is basically the same way how I trade the MTF system - from lower TF to higher.
But according to my criteria, there is another possible entry on your chart - at 19:00. Yes, M30 Trix is under...Ignored