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MTF Trix system

  • #1,001
  • Aug 19, 2009 8:03am Aug 19, 2009 8:03am
Quoting Gleneagles
Let us just delete the posts that refer to it, I feel the same way about it.
Done
  • #1,002
  • Aug 19, 2009 8:10am Aug 19, 2009 8:10am
Quoting Gleneagles
You are not doing too bad so far, there is hope for you
As you know I traded basically the same setup earlier and did quite well. But I always felt that what I did and used needed refinement. Now I feel well after finding you and other people who think and trade like I do.
What I like most is that the system does exactly the job that I need it to do. It allows to take trades if I have enough time (at least for opening my terminal ) without big preparations or lot of screen hours. Just in between of my other duties. As I am much in computer anyway, it is a very comfortable way to trade.
  • #1,003
  • Aug 19, 2009 8:13am Aug 19, 2009 8:13am
Could you ask for any better set up then this mtf15 long mtf60m long ma's cross and signal arrow 19 candles later +100

can you say perfect set up ?
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd5.gif Size: 27 KB
  • #1,004
  • Aug 19, 2009 8:21am Aug 19, 2009 8:21am
Quoting Tazca
Could you ask for any better set up then this mtf15 long mtf60m long ma's cross and signal arrow 19 candles later +100

can you say perfect set up ?

I am in early retirement thanks to the IT people!! No charts, no income, no home, no food .

At first glance it looks REALLY good!

There are lots of clever people that can help you now.
" Never let the past hold the future to ransom "
  • #1,005
  • Aug 19, 2009 8:22am Aug 19, 2009 8:22am
Glen,

After some chart watching I would say that immediate break of signal candles on H1 and H4 charts is always a very good entry.
If the signal candle closes on these charts and price continues to move to the same direction then we can enter without waiting any additional miracles from M5?
Am I correct?
  • #1,006
  • Aug 19, 2009 8:23am Aug 19, 2009 8:23am
Quoting Gleneagles
I am in early retirement thanks to the IT people!! No charts, no income, no home, no food .

At first glance it looks REALLY good!

There are lots of clever people that can help you now.
Did they take also your home and refrigerator
  • #1,007
  • Aug 19, 2009 8:25am Aug 19, 2009 8:25am
Quoting Indrek
As you know I traded basically the same setup earlier and did quite well. But I always felt that what I did and used needed refinement. Now I feel well after finding you and other people who think and trade like I do.
What I like most is that the system does exactly the job that I need it to do. It allows to take trades if I have enough time (at least for opening my terminal ) without big preparations or lot of screen hours. Just in between of my other duties. As I am much in computer anyway, it is a very comfortable way to trade.

You have summed it up 100%. Simple , effective and low maintenance. If used with EA to manage the trade, even better.
" Never let the past hold the future to ransom "
  • #1,008
  • Aug 19, 2009 8:27am Aug 19, 2009 8:27am
Quoting Indrek
Did they take also your home and refrigerator

After the invoice, I will probably have to sell it anyway
" Never let the past hold the future to ransom "
  • #1,009
  • Aug 19, 2009 8:30am Aug 19, 2009 8:30am
Ok, here is the current H1 Trade I am watching...as always the break line on the 60 will keep me out of a bad trade by using the 5M as a reference.

Chart 1, shows H1 Entry Signal with my Break line drawn

Chart 2 shows the 5M chart, with same breakline...I'm just waiting for a break of that price level to get in.

Cheers

Darren
Attached Image(s) (click to enlarge)
Click to Enlarge Name: WE Trade 3.gif Size: 29 KB
Click to Enlarge Name: WE Trade 3 5min.gif Size: 25 KB
  • #1,010
  • Aug 19, 2009 8:33am Aug 19, 2009 8:33am
Quoting Indrek
Glen,

After some chart watching I would say that immediate break of signal candles on H1 and H4 charts is always a very good entry.
If the signal candle closes on these charts and price continues to move to the same direction then we can enter without waiting any additional miracles from M5?
Am I correct?

Once you have the system running for a while and have a good feel for it..... sure. I suggest however that for the traders still feeling their way around the system to stick with a break of high/low on 5M.
One additional advantage is that trading the break of 5M signal candle will often enable you to use a smaller stop loss as well. If the momentum is building, the retrace is often less.

I trade C4 with a very tight stop loss using the break of 5M candle high/low
" Never let the past hold the future to ransom "
  • #1,011
  • Aug 19, 2009 8:36am Aug 19, 2009 8:36am
Quoting pilotui
Ok, here is the current H1 Trade I am watching...as always the break line on the 60 will keep me out of a bad trade by using the 5M as a reference.

Chart 1, shows H1 Entry Signal with my Break line drawn

Chart 2 shows the 5M chart, with same breakline...I'm just waiting for a break of that price level to get in.

Cheers

Darren
It is quite far into the US session.
What does ATR reading show?
I don`t have charts available right now.
" Never let the past hold the future to ransom "
  • #1,012
  • Aug 19, 2009 8:39am Aug 19, 2009 8:39am
Quoting Gleneagles
It is quite far into the US session.
What does ATR reading show?
I don`t have charts available right now.

You don`t have to wait for a break of high/low on 60M.
It is a suggestion for 30M TF only.

Your entry will be if 60 15 5 agree and a new high/low of 5M candle
" Never let the past hold the future to ransom "
  • #1,013
  • Aug 19, 2009 8:43am Aug 19, 2009 8:43am
Quoting Gleneagles
Once you have the system running for a while and have a good feel for it..... sure. I suggest however that for the traders still feeling their way around the system to stick with a break of high/low on 5M.
One additional advantage is that trading the break of 5M signal candle will often enable you to use a smaller stop loss as well. If the momentum is building, the retrace is often less.

I trade C4 with a very tight stop loss using the break of 5M candle high/low
I think thats what was confusing me, so if you don't have much experience its best to wait for signal on eg. the 30m and then go to the 5min and wait for another signal on the 5m?
  • #1,014
  • Aug 19, 2009 8:54am Aug 19, 2009 8:54am
Glen,

How far into the US session do you trade?

Carol
  • #1,015
  • Aug 19, 2009 8:55am Aug 19, 2009 8:55am
Quoting Gleneagles
It is quite far into the US session.
What does ATR reading show?
I don`t have charts available right now.
ATR still says - TRADE!
I entered at H1 break without using M5
Attached Image
  • #1,016
  • Aug 19, 2009 8:55am Aug 19, 2009 8:55am
Quoting luckylady
I think thats what was confusing me, so if you don't have much experience its best to wait for signal on eg. the 30m and then go to the 5min and wait for another signal on the 5m?
Signal on 30M, new high/low of signal candle..5M confirms in same direction..take the trade.
" Never let the past hold the future to ransom "
  • #1,017
  • Aug 19, 2009 9:04am Aug 19, 2009 9:04am
+32 right now...attached is chart with TP levels...Orange and Green.
Attached Image (click to enlarge)
Click to Enlarge Name: Trade 3 with TP levels.gif Size: 26 KB
  • #1,018
  • Aug 19, 2009 9:05am Aug 19, 2009 9:05am
Quoting Eureka
Glen,

How far into the US session do you trade?

Carol
It is right at the end of my trading time.
I watch ATR as well, if it drops of I stay out.
If I have made enough pips earlier, I will easily skip trades late US session.

Another indicator I watch very closely is my stomach...when I am hungry..I know it almost time for supper..like right now
" Never let the past hold the future to ransom "
  • #1,019
  • Aug 19, 2009 9:06am Aug 19, 2009 9:06am
Quoting Indrek
ATR still says - TRADE!
I entered at H1 break without using M5
Go to 5M and see how many pips you saved by taking the entry of signal candle break.

Sorry, still unemployed over here..no charts.
" Never let the past hold the future to ransom "
  • #1,020
  • Aug 19, 2009 9:07am Aug 19, 2009 9:07am
LOL

Thanks, Glen. Go get something to eat.


Quoting Gleneagles
It is right at the end of my trading time.
I watch ATR as well, if it drops of I stay out.
If I have made enough pips earlier, I will easily skip trades late US session.

Another indicator I watch very closely is my stomach...when I am hungry..I know it almost time for supper..like right now
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