MTF Trix system | Page 50 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

MTF Stochastics into MTF Stoch Histogram 8 replies

MTF Trix Meter 1.1d help! 0 replies

5 digits fro trix and mtf trix 2 replies

Anyone heard of the TRIX indicator ? 4 replies

Trix indicator 2 replies

Attachments: MTF Trix system
Exit Attachments

MTF Trix system

  • #981
  • Aug 19, 2009 7:44am Aug 19, 2009 7:44am
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
Great job Pilotui..keep it up .
  • #982
  • Aug 19, 2009 7:46am Aug 19, 2009 7:46am
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
I think I'm missing something here, why do you switch back to the 5m and then back to the 30m again, isn't that the same as just watching the 30m?
  • #983
  • Aug 19, 2009 7:50am Aug 19, 2009 7:50am
Quoting stunna29
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.Attachment

Nice one

It could have been a +50 trade but the price found support at the bottom of the chart. It had no room to move any further south because of the congestion
caused by all the indicators
" Never let the past hold the future to ransom "
  • #984
  • Aug 19, 2009 7:54am Aug 19, 2009 7:54am
Quoting Gleneagles
Nice one

It could have been a +50 trade but the price found support at the bottom of the chart. It had no room to move any further south because of the congestion
caused by all the indicators
Lol ..i forgot to take the fib off..jus wanted to see the retracement but thanks again Glen.
  • #985
  • Aug 19, 2009 7:55am Aug 19, 2009 7:55am
Quoting Gleneagles
Nice one

It could have been a +50 trade but the price found support at the bottom of the chart. It had no room to move any further south because of the congestion
caused by all the indicators
Love the soh!
  • #986
  • Aug 19, 2009 8:29am Aug 19, 2009 8:29am
Quoting Gleneagles
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
LOL, thats funny because I left the house got to work (hadn't logged in yet) and I opened up my trade log and wrote out my entire though process on the trade from beginning to end...compared it to the checklist I used and it matched 100%.

Great point, thanks for the knowledge!

-Darren
  • #987
  • Aug 19, 2009 8:33am Aug 19, 2009 8:33am
Quoting luckylady
I think I'm missing something here, why do you switch back to the 5m and then back to the 30m again, isn't that the same as just watching the 30m?

The way I have interpreted Glen's trading system is exaclty what I wrote:

I set my charts to a higher TF...30 60 240...wait for the alert from Scalper Signals...wait for the Alert Candle to close with the arrow intact.

Then I draw the H/L line of that signal candle depending on the direction of the signal.

I then switch to 5M chart and wait for PA to break through the line I drew. Once Price has closed through the line I enter the trade.

After I'm in the trade I go BACK to the 30 60 240 (whatever TF I used to take the alert) and wait for the exit based on the higher TF.

When the market is trending such as it is on GU...I will exit at the next signal in the opposite direction.

Check out the Excel file I posted yesterday it has every step written in formal military execution style...no thinking just checking off the steps...it has REALLY helped me

By the way did I mention I like to use "..." I'm to lazy for comma's!

  • #988
  • Aug 19, 2009 8:35am Aug 19, 2009 8:35am
Quoting stunna29
Great job Pilotui..keep it up .
You too!! This is really a fun/great/simple system!
  • #989
  • Aug 19, 2009 8:37am Aug 19, 2009 8:37am
Quoting pilotui
LOL, thats funny because I left the house got to work (hadn't logged in yet) and I opened up my trade log and wrote out my entire though process on the trade from beginning to end...compared it to the checklist I used and it matched 100%.

Great point, thanks for the knowledge!

-Darren
It is part of trading, does not take long and you keep yourself pointed in the right direction.
It builds confidence in the trading plan and also confidence in yourself as a trader.
" Never let the past hold the future to ransom "
  • #990
  • Aug 19, 2009 8:38am Aug 19, 2009 8:38am
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
Actually now in hindsight, and reviewing my notes:

I should have exited the trade when my H1 Trix closed it's first opposite color.

Clearly that would have been closer to the bottom.

Too bad I was sleeping! I wonder if theres a way to alert a color change on the Trix histo? Anyone.

Ok, last post! I have meetings anyway!
  • #991
  • Aug 19, 2009 9:14am Aug 19, 2009 9:14am
Quoting pilotui
The way I have interpreted Glen's trading system is exaclty what I wrote:

I set my charts to a higher TF...30 60 240...wait for the alert from Scalper Signals...wait for the Alert Candle to close with the arrow intact.

Then I draw the H/L line of that signal candle depending on the direction of the signal.

I then switch to 5M chart and wait for PA to break through the line I drew....
A question: when you receive a signal on 240 chart and draw the line - why do you go to M5 chart for waiting the break of the line??? Why not wait it on the same chart?
In fact, as much as I understand, what you describe belongs only to M30 trading. If trading M60 and 240 you do not wait for the break of the signal candle but you go to M5 and wait for an arrow there. And you enter at the break of high/low of the M5 signal candle not M60-240.
Glen, am I right?
  • #992
  • Aug 19, 2009 9:22am Aug 19, 2009 9:22am
GBPUSD

LWMA 8,3,6

Trix 5m, 30m

Result : 25 + 35 = 60
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd5m0819.gif Size: 19 KB
  • #993
  • Aug 19, 2009 9:25am Aug 19, 2009 9:25am
Quoting Indrek
A question: when you receive a signal on 240 chart and draw the line - why do you go to M5 chart for waiting the break of the line??? Why not wait it on the same chart?
In fact, as much as I understand, what you describe belongs only to M30 trading. If trading M60 and 240 you do not wait for the break of the signal candle but you go to M5 and wait for an arrow there. And you enter at the break of high/low of the M5 signal candle not M60-240.
Glen, am I right?

Right, I suggested a break of high/low on 30M signal candle as an additional filter to reduce false signals.
If you want to use a break of high/low of 60M and/or 240M signal candle, you may filter a false signal at times but you will sacrifice a lot of pips with a delayed entry.
If you have a look at your charts, it will confirm this.
" Never let the past hold the future to ransom "
  • #994
  • Aug 19, 2009 9:28am Aug 19, 2009 9:28am
EURJPY

LWMA 8,3,6

Trix 5m, 30m

Result : 25 + 35 = 60
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy5m0819.gif Size: 20 KB
  • #995
  • Aug 19, 2009 9:32am Aug 19, 2009 9:32am
GBPJPY

LWMA 8,3,6

Trix 5m, 30m

Result : 25 + 35 = 60
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy5m0819.gif Size: 21 KB
  • #996
  • Aug 19, 2009 9:34am Aug 19, 2009 9:34am
Quoting Trader7
EURJPY

LWMA 8,3,6

Trix 5m, 30m

Result : 25 + 35 = 60



Enough room at the bottom of the chart to hit TP targets
" Never let the past hold the future to ransom "
  • #997
  • Aug 19, 2009 9:35am Aug 19, 2009 9:35am
Traded the break of M30 signal candle in this case. +96 pips so far today.
Waiting very much for Glen's advice on SL-TS-TP now...
Attached Image
  • #998
  • Aug 19, 2009 9:46am Aug 19, 2009 9:46am
We have only been trading this a few trading sessions but I think the basics are slowly falling into place.

After 3-4 weeks, if there is enough interest and traders are comfortable with the system, we will move onto Phase 2.




I will give you a sneak preview later, it may give you a new perspective on trading.
" Never let the past hold the future to ransom "
  • #999
  • Aug 19, 2009 9:50am Aug 19, 2009 9:50am
Quoting Indrek
Traded the break of M30 signal candle in this case. +96 pips so far today.
Waiting very much for Glen's advice on SL-TS-TP now...

You are not doing too bad so far, there is hope for you

I am sitting around here with no server, no computers and no trading whilst the IT people are stuffing around.

I will retrieve the info ( hopefully in our lifetime) when they are finished.

It is coming...promise
" Never let the past hold the future to ransom "
  • #1,000
  • Aug 19, 2009 9:59am Aug 19, 2009 9:59am
Quoting Gleneagles
Agree, it is just a natural progression and we don`t even want to give it a special name.
Let us just delete the posts that refer to it, I feel the same way about it.
" Never let the past hold the future to ransom "
1 trader viewing now