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MTF Trix system

  • #961
  • Aug 19, 2009 3:27am Aug 19, 2009 3:27am
Quoting Gleneagles
The signal candle in this case ( for reentry is the 5M candle)
The white line on the chart is the low of the signal candle.
You look for a break of that line ( 5M candle low ) to enter.
The low was at 16462 approximately.
Your entry could have been on the next candle @ 16461 for example.
Thanks Gleneagles, I think its a lot clearer now. I have drawn a check list where I just tick every 15 minute current position based on Arrow whether 240/60/15 have arrow in same direction. Then on 5, take the candle with the arrow in the same direction. Price must break that candles low, and enter provided there is no obvious obstruction in the path.

Just a q for you. It can be the case that both 60 and 15 have signalled say short. On the 15 min signal candle, you find that the 5 min already signalled one candle ago (when the 15 min had run for 10 mins). On close of the 15 therefore, there is already a signal on the 5. In this case, I presume you would take the short at the break of 15 min (and 5 min last candle).

Also, other than the arrows, you do not use the trix indicators at all. You do use the atr. Is that correct?

Thanks for your help.
  • #962
  • Aug 19, 2009 3:33am Aug 19, 2009 3:33am
I am going to shut down trading shortly because of a server upgrade that needs to be done.

I want you to carefully consider what you add onto your charts.

If you want to trade MTF Trix, stick to it , once you are comfortable with the method and satisfied that it works for you.

I can show you a few other trading methods that also work but it is not Trix related.

Once you start adding MA, RSI, STOCH, MACD or whatever else and introduce filters etc. What are you actually trading?

There are some combinations and permutations of indicators that you can put together that will work but treat that as a separate trading system.

In the end you become a system nomad that will fiddle around and experiment rather than being consistent and spending your energy trading.

Even an average trading system can produce great results when traded consistently, with discipline and with proper MM.

I trade most of the time with one chart/pair only.

You can see the examples posted all over the thread.

The 240M trend can change at most once every 4 hours? Do you need a 4 hour chart open?
The 60M trend can change every 60M as well.

By simply changing the periods on the chart, you can see in a few seconds the 240M and 60M trend.
You trade mainly from 5M chart (to look for entries)

Keep your charts clean and simple!!

Do you REALLY need all that stuff on your charts?
What benefit does it have?
Does it tell you anything new?

Just a few thoughts to consider.
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" Never let the past hold the future to ransom "
  • #963
  • Aug 19, 2009 3:47am Aug 19, 2009 3:47am
Just a q for you. It can be the case that both 60 and 15 have signalled say short. On the 15 min signal candle, you find that the 5 min already signalled one candle ago (when the 15 min had run for 10 mins). On close of the 15 therefore, there is already a signal on the 5. In this case, I presume you would take the short at the break of 15 min (and 5 min last candle).


Also, other than the arrows, you do not use the trix indicators at all. You do use the atr. Is that correct?

Thanks for your help.[/quote]

If 60M 15M and 5M line up, we take the trade. If 5M already had a valid signal, I would take the trade once 15M candle closed and confirmed.
The only reason why I look for a new low/high on 5M candles is that it does help to filter a few false signals.

I use arrows instead of Trix, I like to keep the charts clean and simple.

I do look at ATR as stated earlier, it helps to stay out of consolidation and low activity periods.
" Never let the past hold the future to ransom "
  • #964
  • Aug 19, 2009 3:49am Aug 19, 2009 3:49am
Back late NY session.
" Never let the past hold the future to ransom "
  • #965
  • Edited 4:00am Aug 19, 2009 3:49am | Edited 4:00am
I am using m30 as trend filter...DOWN....
all were in correlation.

I only traded audusd ...2xtrades...
eurjpy ...1x trade

GBPUsd and eurjpy have higher daily range.....than the other two pairs...

So when reading C4 thread.... when all 4 suggested pairs are in correlation...
nitro...RENKO different pairs
C4.. candles different pairs...

this indicates to the trader that they do not have to trade all 4 pairs but just to let them know that the market is in TOP gear as far as momemtum/acceralation...

Then when this correlation occurs... choose 1x pair preferred or 2x pairs to trade...
How to choose these preferred pairs...
look at daily range..../spread.....

Then use your lot size to get your overall daily target....

So.... in reference to the logic above....
C4 is what I am trading....
When all 4 pairs are in correlation.... AND in direction of Higher trend filter... In my case M30 trend filter.... as explained by gleneagles....

I trade on first M5 signal in direction of M30...(eg.today DOWN or SELL)

Idealy I should have traded GBPUSD and EURJPY or only GBPUSD based on higher daily range and low spread. (SOME may say eurusd has spread=2...yes but daily rangle is also very low compared to gbpusd...

My target is 10pips.... I will reach my 10 pips quicker with GBPUSD than EURUSD during london session.)

Hope this posts helps many traders to decipher the hidden and true meaning of monitoring 4 pairs and correlation in peak session times.

EURUSD and euro pairs move more generally speaking during US session...
Yen and yen crosses during asian session and gbpusd and gbp crosses during eur/lond session.

In the near furture when I get back my main trading PC(still in the shop)

The EA suggested by susan D will help increase TPx3 for the same TP you are aiming for now.(So for eg. my TP is 10pips for each trade... using this EA the correct set up will result in 30 pips for the same 10 pips gain.).More later when I work with it. Worth other traders looking at this as a possible MM EA to inrease their account balance with minimum exposure in the market.
  • #966
  • Aug 19, 2009 4:04am Aug 19, 2009 4:04am
Quoting lrathi
I am using m30 as trend filter...DOWN....
all were in correlation.

I only traded audusd ...2xtrades...
eurjpy ...1x trade

GBPUsd and eurjpy have higher daily range.....than the other two pairs...

So when reading C4 thread.... when all 4 suggested pairs are in correlation...
nitro...RENKO different pairs
C4.. candles different pairs...

this indicates to the trader that they do not have to trade all 4 pairs but just to let them know that the market is in TOP gear as far as momemtum/acceralation...

Then when this correlation occurs... choose...
I trade only EU and GU and I also monitor only these two as it is a very good combination to understand the big picture. There are some interesting nuances about these pairs that are useful to know.
For example: in 90 % of cases GU does not change its daily candle's direction after 10 GMT.
Or: if to monitor, which pair of these two is the leading one for the day (has more power in its PA) it is possible to predict the daily trend - if GU is leading then prices will most probably move down and if EU then up.
If you deal with 1-2 pairs only then you can really learn very much about their soul and heart and to use it for your success
  • #967
  • Aug 19, 2009 5:07am Aug 19, 2009 5:07am
Quoting Indrek
I trade only EU and GU and I also monitor only these two as it is a very good combination to understand the big picture. There are some interesting nuances about these pairs that are useful to know.
For example: in 90 % of cases GU does not change its daily candle's direction after 10 GMT.
Or: if to monitor, which pair of these two is the leading one for the day (has more power in its PA) it is possible to predict the daily trend - if GU is leading then prices will most probably move down and if EU then up.
If you deal with 1-2 pairs only then...
Maybe worth keeping an eye on EURGBP too to give you more hints on these pairs you are trading.
  • #968
  • Aug 19, 2009 5:30am Aug 19, 2009 5:30am
Quoting lrathi
I am using m30 as trend filter...DOWN....
all were in correlation.

I only traded audusd ...2xtrades...
eurjpy ...1x trade

GBPUsd and eurjpy have higher daily range.....than the other two pairs...

So when reading C4 thread.... when all 4 suggested pairs are in correlation...
nitro...RENKO different pairs
C4.. candles different pairs...

this indicates to the trader that they do not have to trade all 4 pairs but just to let them know that the market is in TOP gear as far as momemtum/acceralation...

Then when this correlation occurs... choose...

Hi Lrathi,
Just a couple of q's for you!
When you are looking for correlation, what tf do you normally look at?
Also on the question of the mm ea, still don't understand how you can get more pips out of the same move. Say if you are short 1 lot with a tp of 10, you would make say 100$ if tp is hit. If the ea is scaling out, you would surely make less?!

Thanks
Pardy
  • #969
  • Aug 19, 2009 6:18am Aug 19, 2009 6:18am
Quoting Pardy
Hi Lrathi,
Just a couple of q's for you!
When you are looking for correlation, what tf do you normally look at?
Also on the question of the mm ea, still don't understand how you can get more pips out of the same move. Say if you are short 1 lot with a tp of 10, you would make say 100$ if tp is hit. If the ea is scaling out, you would surely make less?!

Thanks
Pardy

Q1. does not matter which TF you look for correlation..Choose M5 or M30.
Q2. I have only heard of this Steve Hopwood MM EA. A few different Traders from different threads have mentioned it...
On this thread search Susan D posts and see what you make of it.

It is a scaling out EA and moving SL to BE and more...
Here is one of the many posts from Susan D how she is applying it for a small 10pip Tp.
http://www.forexfactory.com/showthre...183801&page=47


I hope to learn more of this JUMPING EA facilitiy to manage an open trade.
  • #970
  • Aug 19, 2009 6:36am Aug 19, 2009 6:36am
Quoting Pardy
Hi Lrathi,
Just a couple of q's for you!
When you are looking for correlation, what tf do you normally look at?
Also on the question of the mm ea, still don't understand how you can get more pips out of the same move. Say if you are short 1 lot with a tp of 10, you would make say 100$ if tp is hit. If the ea is scaling out, you would surely make less?!

Thanks
Pardy
Let us do the maths on this one:

Trade size 5 minilots:

Using the example posted in the attachment:

You are targeting a 10 pip move and have set up EA to TP @ 2-4-6-8-10 pips.

Scenario A

Normal trade

10 pips gain = $50

Risk??? Let us assume 20 pips SL

Gain $ 50
Gain pips 10
Risk $ 100

Scenario B
Assuming you hit 10 pip TP

Gain pips: 2+4+6+8+10= 30 pips
Gain $: $2+$4+$6+$8+$10 = $30

Risk $ 100


OK, you have now made 30 pips in a 10 pip move and what is the financial result.

You have $30 instead of $50 with the same risk on the trade.

Do you trade to gain 30 pips valued at $30 or 10 pips valued at $50...same trade..same risk.

If my reasoning is flawed, please feel free to correct me. There may be something I overlooked.
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" Never let the past hold the future to ransom "
  • #971
  • Aug 19, 2009 6:39am Aug 19, 2009 6:39am
30 Min Alert...waited for break of PA on 5M...once that occurred I entered. Then switched back to 30 min candle and waited for opposite signal alert...which just happened.

Total Pips Available on this trade: 159
Total pips I made: 112

Simply, Amazing...Glen!

-Darren
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  • #972
  • Aug 19, 2009 6:42am Aug 19, 2009 6:42am
Quoting pilotui
30 Min Alert...waited for break of PA on 5M...once that occurred I entered. Then switched back to 30 min candle and waited for opposite signal alert...which just happened.

Total Pips Available on this trade: 159
Total pips I made: 112

Simply, Amazing...Glen!

-Darren
Nice trade
" Never let the past hold the future to ransom "
  • #973
  • Aug 19, 2009 6:46am Aug 19, 2009 6:46am
Quoting Gleneagles
Nice trade
Thanks SIR...so just for my own mental well being...am I trading this system correctly? This is my 2nd consecutive winning trade with this approach.

Also, it's the cleanest chart I've ever traded off of!!!

  • #974
  • Aug 19, 2009 6:55am Aug 19, 2009 6:55am
Quoting pilotui
Thanks SIR...so just for my own mental well being...am I trading this system correctly? This is my 2nd consecutive winning trade with this approach.

Also, it's the cleanest chart I've ever traded off of!!!

No, you must do it yourself

You have the rules..only a few simple ones.

At end of trading..or after the second cold one..review your trades to make sure you stayed within your trading plan.

Just tick it of on your checklist
" Never let the past hold the future to ransom "
  • #975
  • Aug 19, 2009 7:10am Aug 19, 2009 7:10am
Quoting walb99
here you go
Thank you!!

I am just loving this thread!
My girl friend was cleaning the fridge and doing house work and suggesting that I should help her, but I could not drag my self from reading this thread

PGPB
  • #976
  • Aug 19, 2009 7:16am Aug 19, 2009 7:16am
Quoting pgpb
Thank you!!

I am just loving this thread!
My girl friend was cleaning the fridge and doing house work and suggesting that I should help her, but I could not drag my self from reading this thread

PGPB
OH BOY!

Here comes trouble.

Please note that it was pilotui who posted the huge winner...not me.
" Never let the past hold the future to ransom "
  • #977
  • Aug 19, 2009 7:22am Aug 19, 2009 7:22am
Quoting Gleneagles
Let us do the maths on this one:

Trade size 5 minilots:

Using the example posted in the attachment:

You are targeting a 10 pip move and have set up EA to TP @ 2-4-6-8-10 pips.

Scenario A

Normal trade

10 pips gain = $50

Risk??? Let us assume 20 pips SL

Gain $ 50
Gain pips 10
Risk $ 100

Scenario B

Assuming you hit 10 pip TP

Gain pips: 2+4+6+8+10= 30 pips
Gain $: $2+$4+$6+$8+$10 = $30

Risk $ 100


OK, you have now made 30 pips in a 10 pip move and what is the financial result.

You have $30 instead of $50 with...
That is exactly what I thought. What matters is the $ amount per trade.

Regards
Pardy
  • #978
  • Aug 19, 2009 7:25am Aug 19, 2009 7:25am
Quoting pilotui
Thanks SIR...so just for my own mental well being...am I trading this system correctly? This is my 2nd consecutive winning trade with this approach.

Also, it's the cleanest chart I've ever traded off of!!!

Agree, my charts have never looked cleaner, its been a struggle to wean myself off a plethora of indicators!!

Pardy
  • #979
  • Aug 19, 2009 7:32am Aug 19, 2009 7:32am
Quoting Gleneagles
Let us do the maths on this one:

Trade size 5 minilots:

Using the example posted in the attachment:

You are targeting a 10 pip move and have set up EA to TP @ 2-4-6-8-10 pips.

Scenario A

Normal trade

10 pips gain = $50

Risk??? Let us assume 20 pips SL

Gain $ 50
Gain pips 10
Risk $ 100

Scenario B

Assuming you hit 10 pip TP

Gain pips: 2+4+6+8+10= 30 pips
Gain $: $2+$4+$6+$8+$10 = $30

Risk $ 100


OK, you have now made 30 pips in a 10 pip move and what is the financial result.

You have $30 instead of $50 with...
Thank goodness we have you on the thread....Gleneagles....

You make my thinking so clear and easy....

Made another 20 pips since my last post....
50 pips for today....
this is 10 pips more than my daily target.

Thanks for the clear M30 filter.
Using it as normal set up.
  • #980
  • Aug 19, 2009 7:41am Aug 19, 2009 7:41am
Hey guys, here is five elements to become profitable trader: 1.Trend Determination (2.) Perfect Entry Timing (3) Proper Stoploss (4) Accurate Take Profit Target (5) Money Management.I asure you if we practice these each and every day we will always profitable day in and day out.BTW here is another +30pips,today has been wonderful.
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