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MTF Trix system

  • #1,021
  • Aug 19, 2009 11:13am Aug 19, 2009 11:13am
Quoting Eureka
LOL

Thanks, Glen. Go get something to eat.
Have to wait or the IT geniuses to finish....will just shoot an animal in the street and have a barbecue.

Nice restaurant downstairs from the trading room...no problem..
" Never let the past hold the future to ransom "
  • #1,022
  • Aug 19, 2009 11:14am Aug 19, 2009 11:14am
Quoting Gleneagles
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.


LOL, Glen...I can't stand seeing you like this!

  • #1,023
  • Aug 19, 2009 11:15am Aug 19, 2009 11:15am
Quoting Gleneagles
Have to wait or the IT geniuses to finish....will just shoot an animal in the street and have a barbecue.

Nice restaurant downstairs from the trading room...no problem..
In fact, that is a good idea, back later
" Never let the past hold the future to ransom "
  • #1,024
  • Aug 19, 2009 11:16am Aug 19, 2009 11:16am
Quoting Indrek
ATR still says - TRADE!
I entered at H1 break without using M5
Very nice Indrek... so you:

1. Waited for H1 Alert candle to close with signal arrow intact.

2. Drew the Break line at the High of the signal candle.

3. Entered on the break of the next H1 candle through the Break line?

Is this correct?
  • #1,025
  • Aug 19, 2009 11:17am Aug 19, 2009 11:17am
Quoting Gleneagles
After the invoice, I will probably have to sell it anyway
Or put on another position!
Read the entire thread BEFORE you ask questions!
  • #1,026
  • Aug 19, 2009 11:19am Aug 19, 2009 11:19am
Quoting Indrek
ATR still says - TRADE!
I entered at H1 break without using M5

Indrek...also:

So you drew the break line on the BODY of the candle NOT the wick correct?
  • #1,027
  • Aug 19, 2009 11:40am Aug 19, 2009 11:40am
Okay Indrek,
Thankyou for posting the indie for me yesterday, its in my MT4 fine, however I am referring to the Swingman Ultra MTF PV that is in the posts from Trader 7, page 67 posts 992,994,995 also Tazca post 1003 of the same page, the indie at the bottom of the charts that compliments the top one on the mentioned charts that the bars move in a rectangular shape instead of round MACD shape. That is the one I am missing. Could you help me? This system looks very good and I need a good system.

Maybe it is the same indie with different time frame settings but the MTF PV is on the bottom ones.

Thankyou, I just want to get up to speed with this.
  • #1,028
  • Aug 19, 2009 12:01pm Aug 19, 2009 12:01pm
Quoting pilotui
Very nice Indrek... so you:

1. Waited for H1 Alert candle to close with signal arrow intact.

2. Drew the Break line at the High of the signal candle.

3. Entered on the break of the next H1 candle through the Break line?

Is this correct?
I never draw any lines I trust my eyes and instincts
I entered even before the break as I was waiting for it and then suddenly noticed increasing PA towards my direction. Trader's discretion is the first thing, indicators are the second
  • #1,029
  • Aug 19, 2009 12:03pm Aug 19, 2009 12:03pm
Quoting fxgrnwise
Okay Indrek,
Thankyou for posting the indie for me yesterday, its in my MT4 fine, however I am referring to the Swingman Ultra MTF PV that is in the posts from Trader 7, page 67 posts 992,994,995 also Tazca post 1003 of the same page, the indie at the bottom of the charts that compliments the top one on the mentioned charts that the bars move in a rectangular shape instead of round MACD shape. That is the one I am missing. Could you help me? This system looks very good and I need a good system.

Maybe it is the same indie with different time frame...
It is the same indy with different settings. When you open the settings table go to General and set the values for minimum and maximum. I have minimum -0.001 and maximum 0.001. Then it shows like a bar.
  • #1,030
  • Aug 19, 2009 12:05pm Aug 19, 2009 12:05pm
Quoting pilotui
Indrek...also:

So you drew the break line on the BODY of the candle NOT the wick correct?
No lines. Never. I think in numbers, so I look at the price number, not any lines. That is why I am not able to trade "close under/above MA" and by now I have deleted all MAs from my charts. I also do not understand wicks and candle patterns and divergence and other graphical stuff.
  • #1,031
  • Aug 19, 2009 12:16pm Aug 19, 2009 12:16pm
Indrek,

Thankyou that works! The two together are much better.
  • #1,032
  • Aug 19, 2009 12:24pm Aug 19, 2009 12:24pm
Ok, so Glen was right...shortly after entering the ATR dropped off to LOW and momentum died...

+18

I exited for 2 reasons:

1. Color change of the 1H Histo
2. Big Doji on the last candle.

+130 on the day.

I've looked at this same trade on the 30M candles, and it would have gotten me in much earlier, but there are also more signals...

Hmmmm
Attached Image (click to enlarge)
Click to Enlarge Name: Trade 3 +18.gif Size: 30 KB
  • #1,033
  • Aug 19, 2009 12:28pm Aug 19, 2009 12:28pm
Quoting Gleneagles
Go to 5M and see how many pips you saved by taking the entry of signal candle break.
This is the same trade on M5. Like it often happens - long M5 candle when breaking H1.
Attached Image
  • #1,034
  • Aug 19, 2009 12:43pm Aug 19, 2009 12:43pm
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.
I am in the same situation. And I am really thankful for Gleneagle for showing us the clear path.
  • #1,035
  • Aug 19, 2009 1:04pm Aug 19, 2009 1:04pm
Glen

You have mentioned a few times that you have an EA for managing trades.
I assume this EA allows you to take partial profits and move your SL to break even etc

Where did you get this EA?

I found one on FF but it is rather complicated.

Thx!

PGPB
  • #1,036
  • Aug 19, 2009 1:07pm Aug 19, 2009 1:07pm
A review of the last GBPUSD trade:

60 15 5


Attached chart shows buy signal effective 15H00 GMT @ 16495.

The 60M candle has signaled a TREND CHANGE and plays NO further part in the trade. It is a TREND INDICATOR only.
You don`t trade from it , use a high or low, in fact the job is done.
Now you move to 15M and 5M charts to find your entry.

Next post.........
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_11 Aug. 19 19.53.gif Size: 14 KB
" Never let the past hold the future to ransom "
  • #1,037
  • Aug 19, 2009 1:11pm Aug 19, 2009 1:11pm
We are now on 15M chart to confirm that we have a valid buy signal.

We LSD......look...see...decide

WE see a BUY signal.

Part 2 of the puzzle is completed.

60M long 15M long

Now leave the 15M alone, it has done its job.

We are moving to 5M chart next.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_12 Aug. 19 20.02.gif Size: 20 KB
" Never let the past hold the future to ransom "
  • #1,038
  • Aug 19, 2009 1:22pm Aug 19, 2009 1:22pm
WE are now on the 5M chart.

We are looking for an entry point....on this chart...not on 60M or 15M chart, their job is done.

What do we see.....

1) Valid buy signal YES...NO
Right at the blue line
YES....we have a buy signal..
So we have 60M long 15M long 5M long ...we take the trade ...Right???

Wrong!

Look at the price 16495....

I said: Don`t take a trade right at a big number.....you may find that you trade a nasty bounce

Big number is 16500 ..only 5 pips away.

Please look for yourself what would have happened if you took the trade there.....nasty bounce..25 pips

The price bounces back and we have another buy signal.
The signal candle forms a high ( white line) @ 16505 just above the BIG NUMBER.
We take the trade on the break of the high (green line)

No pullback, no hassles.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_13 Aug. 19 20.12.gif Size: 20 KB
" Never let the past hold the future to ransom "
  • #1,039
  • Aug 19, 2009 1:30pm Aug 19, 2009 1:30pm
Quoting Gleneagles
WE are now on the 5M chart.

We are looking for an entry point....on this chart...not on 60M or 15M chart, their job is done.

What do we see.....

1) Valid buy signal...
Ahhhhhhhhhhhhhhhhhhh. I see now.
  • #1,040
  • Edited 2:28pm Aug 19, 2009 1:31pm | Edited 2:28pm
I have done a lot of MTF trades, I have also done a LOT of other trading.

My advice to you include all the mistakes you have not discovered for yourself.
We have a very simple set of rules.
Nothing complicated.

We have raked in xxxx pips and some change in just 3 trading days.
I have not even added this trade because I did not trade it.

Now please tell me why you want to add/change, make new rules etc to a system that produces xxxx pips in 3 days???? (BTW I will delete that later.)

It is simple , it is straightforward and it works.

I am unable and unwilling to explain it any further.
" Never let the past hold the future to ransom "
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