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MTF Trix system

  • #781
  • Edited 6:54am Aug 17, 2009 5:34am | Edited 6:54am
Quoting pilotui
Sorry about that.

Will not happen again.

Thanks!

Darren
No problems. I just think that on the one hand it is useful for others, too to read Glen's answers to SOME questions but if there are too many then it most probably becomes difficult to follow.
Thanks for understanding
  • #782
  • Aug 17, 2009 6:08am Aug 17, 2009 6:08am
Quoting Indrek
Maybe you have already said that (if so, sorry for asking over) but - what Trix and MA settings do you use for arrows? I guess, it is DXTrade C4 that I see on your chart, it means one Trix and two MAs?
Yes I have the DX C4 for the arrows set at 3, the MA is the MA in color with Applied Price set at 8 3 6

The larger MA is the 744 which is the equivalent to eohaters 1hr 62 which I like to watch because it will very often bounce off of it.
  • #783
  • Edited 6:35am Aug 17, 2009 6:10am | Edited 6:35am
AUDJPY +30 +60 +90 +120

I have only EURUSD 240M open at present and a small position on GBPUSD 30M 5M

It has been a long session but worthwhile, every month without fail, 5-6 trading days will provide a one way trend where you can make a substantial number of pips by combining the trades across different trendfilters, setting different TP and let the EA do the work.
Normally the starting point is early LDN/EUR session and if it runs right into NY, you score big.

I am going to take a break now and NOT post the detailed trade results today.
I will post a summary during the next few trading sessions on a worksheet if it is of interest. The method is really simple and there are more than enough examples and explanations posted on the thread.

I edited the post earlier where I stated that I will target XXX pips this week because it can be interpreted in the wrong way. This is how I trade, if you find anything of value....great stuff!!
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" Never let the past hold the future to ransom "
  • #784
  • Aug 17, 2009 6:15am Aug 17, 2009 6:15am
Quoting luckylady
Yes I have the DX C4 for the arrows set at 3, the MA is the MA in color with Applied Price set at 8 3 6

The larger MA is the 744 which is the equivalent to eohaters 1hr 62 which I like to watch because it will very often bounce off of it.
Thanks. But what MAs do you use inside DX C4?
  • #785
  • Aug 17, 2009 6:23am Aug 17, 2009 6:23am
Sorry Indrek, the DX C4 that I'm using I think is the first one he made and that doesn't have where you can change the settings for the MA's but if I right click on, it says DXTrade C4 3 E E E C 8
  • #786
  • Aug 17, 2009 6:30am Aug 17, 2009 6:30am
Quoting luckylady
Sorry Indrek, the DX C4 that I'm using I think is the first one he made and that doesn't have where you can change the settings for the MA's but if I right click on, it says DXTrade C4 3 E E E C 8
Is the 8 maybe for MA then? Possible - a combination of Trix3 and MA8... If so, then the MA duplicates the one that you have attached to your chart.
I use the newest version of DX C4, I think. And the main thing I like in it is that it includes one Trix and 2 MAs and all of them are adjustable.
  • #787
  • Aug 17, 2009 6:33am Aug 17, 2009 6:33am
Quoting Indrek
Is the 8 maybe for MA then? Possible - a combination of Trix3 and MA8... If so, then the MA duplicates the one that you have attached to your chart.
I use the newest version of DX C4, I think. And the main thing I like in it is that it includes one Trix and 2 MAs and all of them are adjustable.
I suppose I'm just comfortable with these settings, only a couple of losses over the last 2 weeks, so I'm of the mind if it ain't broke don't fix it
  • #788
  • Aug 17, 2009 6:42am Aug 17, 2009 6:42am
Quoting Gleneagles
AUDJPY +30 +60 +90 +120

I have only EURUSD 240M open at present and a small position on GBPUSD 30M 5M

It has been a long session but worthwhile, every month without fail, 5-6 trading days will provide a one way trend where you can make a substantial number of pips by combining the trades across different trendfilters, setting different TP and let the EA do the work.
Normally the starting point is early LDN/EUR session and if it runs right into NY, you score big.

I am going to take a break now and NOT post the detailed trade results today.
I will...
Thank you, Glen, and I think that whatever you post, people here appreciate it. But trading comes first, so take your time and show to as what you can and when you can
  • #789
  • Aug 17, 2009 8:32am Aug 17, 2009 8:32am
Trying to figure out you way of tradeing with those 240m trix and 60 min

This is the way i did it...

I have 5 min open chart with trix m5 set at 7 2 2 1

Then i have open 15 min chart below it with trix set at 60 min and 3 1 1 1
and trix set at 240 min 3 1 1 1

I enter if those 60 and 240 are the same color and when i get that 5 min trix entry...my TP is 30 and SL is 60

Sometimes i move SL to entry after 25 pips in+

What do you think about it?

How you set those?

Regards
Predrag
Work smart not hard
  • #790
  • Aug 17, 2009 9:09am Aug 17, 2009 9:09am
Using GE system:

Drew the Break Box (BB) on 30 Min alert candle after close and switched to M5 Chart to trade the PA.

Since it didn't break out Long (The Direction of the alert) I went short when it broke through the Low of the Signal candle.

Since it was AGAINST the Signal Candle Alert, I set TP @ 10 pip.

GU +10

By the way anyone else having massive disconnect issues with MT4!?? It's logging on and off like it's going out of style.
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  • #791
  • Aug 17, 2009 10:06am Aug 17, 2009 10:06am
Quoting sony
Trying to figure out you way of tradeing with those 240m trix and 60 min

This is the way i did it...

I have 5 min open chart with trix m5 set at 7 2 2 1

Then i have open 15 min chart below it with trix set at 60 min and 3 1 1 1
and trix set at 240 min 3 1 1 1

I enter if those 60 and 240 are the same color and when i get that 5 min trix entry...my TP is 30 and SL is 60

Sometimes i move SL to entry after 25 pips in+

What do you think about it?

How you set those?

Regards
Predrag
Hi Predrag,

The thread is still relatively small.
Just read the posts I made the last 2 days, you will find all the answers there. Your stop is too big, use ATR 30M or 60M period 14.
" Never let the past hold the future to ransom "
  • #792
  • Aug 17, 2009 10:08am Aug 17, 2009 10:08am
Quoting pilotui
Using GE system:

Drew the Break Box (BB) on 30 Min alert candle after close and switched to M5 Chart to trade the PA.

Since it didn't break out Long (The Direction of the alert) I went short when it broke through the Low of the Signal candle.

Since it was AGAINST the Signal Candle Alert, I set TP @ 10 pip.

GU +10

By the way anyone else having massive disconnect issues with MT4!?? It's logging on and off like it's going out of style.
Market is consolidating before the next move.
Don`t even consider counter trend moves today.
You scored 10 pips because your trade was with the main trend
" Never let the past hold the future to ransom "
  • #793
  • Aug 17, 2009 10:13am Aug 17, 2009 10:13am
Quoting Gleneagles
Market is consolidating before the next move.
Don`t even consider counter trend moves today.
You scored 10 pips because your trade was with the main trend
Good point. I tend to trade in a vacuum..and hopefully this strat will get me to consider all TF's not just what I see!

Thanks!

Darren
  • #794
  • Aug 17, 2009 10:35am Aug 17, 2009 10:35am
Quoting pilotui
Good point. I tend to trade in a vacuum..and hopefully this strat will get me to consider all TF's not just what I see!

Thanks!

Darren
Make a short checklist.

1) 240M Trend Long...Short
2) 60M Trend Long..Short
3) 30 M Trend Long..Short
4) 15M Ditto
5) 5M Ditto

Add:

Major economic announcements due Yes/No
Daily trading range > 80% average Yes/No
Pivot/Big number within 10 pips of entry Yes/No

You will already have the odds on your side without doing anything extra.
" Never let the past hold the future to ransom "
  • #795
  • Aug 17, 2009 10:39am Aug 17, 2009 10:39am
Quoting Gleneagles
Make a short checklist.

1) 240M Trend Long...Short
2) 60M Trend Long..Short
3) 30 M Trend Long..Short
4) 15M Ditto
5) 5M Ditto

Add:

Major economic announcements due Yes/No
Daily trading range > 80% average Yes/No
Pivot/Big number within 10 pips of entry Yes/No

You will already have the odds on your side without doing anything extra.
When you have completed the trade or after the trading session.

Evaluate each trade to make sure you stayed within your trading plan.
After a while it becomes second nature.
" Never let the past hold the future to ransom "
  • #796
  • Aug 17, 2009 11:56am Aug 17, 2009 11:56am
Quoting Gleneagles
When you have completed the trade or after the trading session.

Evaluate each trade to make sure you stayed within your trading plan.
After a while it becomes second nature.
I'm doing it right now...thats a great idea.

Thanks!

Darren
  • #797
  • Aug 17, 2009 12:08pm Aug 17, 2009 12:08pm
Gleneagles,

Thank you for you contributions to this thread - I have found them very helpful.

I would like to ask - when you are waiting for price to break a S/R from a 30 minute candle on a 5 minute chart, do you enter as soon as the line is broken, or when the 5 min candle ends to ensure it closes above / below the line?

Many thanks.
  • #798
  • Aug 17, 2009 12:16pm Aug 17, 2009 12:16pm
Quoting stav01
Gleneagles,

Thank you for you contributions to this thread - I have found them very helpful.

I would like to ask - when you are waiting for price to break a S/R from a 30 minute candle on a 5 minute chart, do you enter as soon as the line is broken, or when the 5 min candle ends to ensure it closes above / below the line?

Many thanks.
I trade on the break of the line, low/high +- 1 pip.
You can end up with a big 5M candle once the SR is broken and momentum builds.
" Never let the past hold the future to ransom "
  • #799
  • Aug 17, 2009 12:35pm Aug 17, 2009 12:35pm
Quoting Gleneagles
GBPUSD +60 +80

Made an early start because of downside gap and bear pressure on 240m as well as daily chart.

Will post trade summary late NY session.
On this trade, you would have had to endure almost a 30 pip drawdown before this trade turned south and went into profit.

Which is a bit scarey for us newbies

What stop loss would you have used on this trade?

A second question, I believe you referenced an EA for managing your trades, which one do you use? (if this is off topic feel free to ignore)

Thx very much!
  • #800
  • Aug 17, 2009 12:42pm Aug 17, 2009 12:42pm
Quoting biz0101
is that 1 pip enough to indicate a support/resistance break? especially in these choppy market days, I would wait for at least a 5 pip breach.
Go back on the charts and have a look, if you feel it is safer to use a 5 pip cushion, by all means....
You have to trade within your comfort zone, it is your money and your risk.
" Never let the past hold the future to ransom "
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