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MTF Trix system

  • #1,201
  • Edited 8:38am Aug 21, 2009 8:18am | Edited 8:38am
So far we have focused on trading with the trend using 240M 60M and 30M as the trend filters.

It just happened that we ended up doing most trades from 60M TF.

Starting from the daily TF you will notice that within the daily price swing, there are a few more 240M price swings or trends.

Moving down to 60M TF, you will notice that there are a LOT of trends within the " MAIN " trend..Daily..that I am using in this example.
" Never let the past hold the future to ransom "
  • #1,202
  • Aug 21, 2009 8:27am Aug 21, 2009 8:27am
So on the Daily trend Long for example, we may have 240M Short.

Within the 240M Short we may have a 60M long.

OK, I hope you have the picture.


Now consider the following scenario:

You trade over multiple TF.

D1
240M
60M

You have different positions open at different levels.

You have both long and short positions open at the same time.

You are making a profit on the retracement on your Daily short by trading a Long on 60M for example.

You are extracting a bigger potential pip gain from the market by effectively employing a profitable form of "hedging".

Think about this concept, it is just for information.
" Never let the past hold the future to ransom "
  • #1,203
  • Aug 21, 2009 8:30am Aug 21, 2009 8:30am
I will post a trade statement(pips only) from my demo account later during the day, to illustrate what can be achieved by employing MTF trading on a different level.
" Never let the past hold the future to ransom "
  • #1,204
  • Aug 21, 2009 8:40am Aug 21, 2009 8:40am
I'm only new here, this being the first post, but i have been reading various threads in the forums for quite some time (C4, Nitro etc...) and helping some friends write EA's and indi's for back testing etc going back a year or two..... but never got into it much, seems i didnt find a system i was comfortable with.... until now

I like this system, it seems to make sense to me, maybe its just logical and I 'get it' or maybe its just that everyone everyone here seems to compliment each other.

Well Done...

I hope I can contribute something worth while

CM
  • #1,205
  • Aug 21, 2009 8:52am Aug 21, 2009 8:52am
Quoting Gleneagles
So on the Daily trend Long for example, we may have 240M Short.

Within the 240M Short we may have a 60M long.

OK, I hope you have the picture.


Now consider the following scenario:

You trade over multiple TF.

D1
240M
60M

You have different positions open at different levels.

You have both long and short positions open at the same time.

You are making a profit on the retracement on your Daily short by trading a Long on 60M for example.

You are extracting a bigger potential pip gain from the market by effectively employing a profitable...
Hi Glen,

I am so glad you have brought this up. Most of us are aware of there being trends within trends, each time frame will play its trend. I have heard of traders who successfully use this concept to multiply their pip and $'s.

It will be great to learn this from you. We are lucky indeed to have you on this thread.

Regards
Pardy
  • #1,206
  • Aug 21, 2009 8:57am Aug 21, 2009 8:57am
Quoting Royston
I would like to make a contribution to this excellent thread. I wanted to see the status of other time frames on the 5 min chart, and came up with the attached indicator. I have it set to show 4 lines in the indicator window. The top line is the 15 min time frame. Next line is 30, then 60, then 240. Completed upper time frames are shown as squares. The current upper time frame being formed is shown as arrows on the hard right edge (this is to remind you that they may change before the upper time frame bar completes). The hard right edge will always...
thanks for this...
Just another nice red juicy cherry on the cake!

WONDEFUL stuff for this strategy....

may I ask for the final dream dashboard....

Multicurrency and multitimeframe.... using trix...

Swingman is the masterof these dashboards but a little busy... maybe you can consult him and if you have not seen his magnificent dashboards....
here is a link:

http://www.forexfactory.com/showthread.php?t=166646

Thanks again!
  • #1,207
  • Aug 21, 2009 9:17am Aug 21, 2009 9:17am
I was waiting for 14:00 GMT as all TFs were expected to show north after that. Suddenly, right after 14:00 sth strange happened and I decided to take quick pips instead of thinking about any rules
The basic rule should be: take what you can
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  • #1,208
  • Aug 21, 2009 9:24am Aug 21, 2009 9:24am
Quoting Indrek
I was waiting for 14:00 GMT as all TFs were expected to show north after that. Suddenly, right after 14:00 sth strange happened and I decided to take quick pips instead of thinking about any rules
The basic rule should be: take what you can
Glad it worked out for you.

Could have been nasty if it went the other way

However, remember one of the rules....watch for news

When Bernanke speaks.....currencies move

PGPB

have a good weekend everybody and a big thanks to all
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  • #1,209
  • Aug 21, 2009 9:31am Aug 21, 2009 9:31am
Quoting CodeMonkey
I'm only new here, this being the first post, but i have been reading various...
Welcome! I am sure there is always a place for a good coder
  • #1,210
  • Aug 21, 2009 9:55am Aug 21, 2009 9:55am
Quoting Gleneagles
Trades using D1 and 240H from earlier this week.

I closed out the trades between 12H24-12H29 GMT on August 19 because of a server upgrade.

Statement is from 5 digit broker.
No SL, no TP?

Could you zoom out the picture to show also the date and time? Then people could use this information for analyzing the trades on their charts.
  • #1,211
  • Edited 10:00am Aug 21, 2009 9:56am | Edited 10:00am
Very nice statement, Glen. This is in line with a post I made the other day saying that there are opportunities for lots of trades in different TFs and that increases even more when more currencies are added.

I notice that you don't use Stops. I don't think I could trade like that.

Carol
  • #1,212
  • Aug 21, 2009 10:00am Aug 21, 2009 10:00am
Quoting Indrek
No SL, no TP?

Could you zoom out the picture to show also the date and time? Then people could use this information for analyzing the trades on their charts.

I use a program that hides SL and TP levels from the broker.

I trade mainly via a trading bridge.
" Never let the past hold the future to ransom "
  • #1,213
  • Aug 21, 2009 10:01am Aug 21, 2009 10:01am
Quoting Eureka
Very nice statement, Glen. This is in line with a post I made the other day saying that there are opportunities for lots of trades in different TFs and that increases even more when more currencies are added.

I notice that you don't use Stops. I don't think I could trade like that.

Carol
I will NEVER trade without a stop loss, it is a sure way to blow your account.
" Never let the past hold the future to ransom "
  • #1,214
  • Aug 21, 2009 10:04am Aug 21, 2009 10:04am
Indrek,

This would have been c4/nitro way of thinking, but thanks to Gleneagle we know better.

In fact if you look at higher time frames and ADR, you were looking at almost the top of the day.

I think Roy is a cool guy and means good, but I am pretty sure his indi will be gone in a few days too.

One thing we know for sure,

ALL Indis LAG.

Quoting Indrek
I was waiting for 14:00 GMT as all TFs were expected to show north after that. Suddenly, right after 14:00 sth strange happened and I decided to take quick pips instead of thinking about any rules
The basic rule should be: take what you can
WANT WHAT THE MARKET WANTS...
  • #1,215
  • Aug 21, 2009 10:05am Aug 21, 2009 10:05am
Quoting Gleneagles
I will NEVER trade without a stop loss, it is a sure way to blow your account.
I agree with that.
  • #1,216
  • Aug 21, 2009 10:06am Aug 21, 2009 10:06am
GBPJPY

LWMA 8,3,6

Trix 5m, 30m

Result : 25 + 35 + 15 = 75
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  • #1,217
  • Aug 21, 2009 10:06am Aug 21, 2009 10:06am
Quoting Indrek
No SL, no TP?

Could you zoom out the picture to show also the date and time? Then people could use this information for analyzing the trades on their charts.

We will cover it in more detail when we discuss the next level of trading.
I posted this merely to illustrate what I explained earlier.
" Never let the past hold the future to ransom "
  • #1,218
  • Aug 21, 2009 10:12am Aug 21, 2009 10:12am
Quoting countex
Indrek,

This would have been c4/nitro way of thinking, but thanks to Gleneagle we know better.

In fact if you look at higher time frames and ADR, you were looking at almost the top of the day.

I think Roy is a cool guy and means good, but I am pretty sure his indi will be gone in a few days too.

One thing we know for sure,

ALL Indis LAG.
I have always been a heavy user of ADR and ATR, so I knew quite well that daily range was almost full. No C4 way of thinking here. My way of thinking is that whatever system you use you can always allow exceptions if you know what you do and trust yourself.
  • #1,219
  • Aug 21, 2009 10:12am Aug 21, 2009 10:12am
Quoting Gleneagles
We will cover it in more detail when we discuss the next level of trading.
I posted this merely to illustrate what I explained earlier.

nice results Glen

You took it from daily and then switch to 240 and then to 60..But there is no high low in this way of tradeing...?

You dont waith for high low on 60 min i guess...

O man, you are thousender now
Work smart not hard
  • #1,220
  • Aug 21, 2009 10:14am Aug 21, 2009 10:14am
Quoting Gleneagles
We will cover it in more detail when we discuss the next level of trading.
I posted this merely to illustrate what I explained earlier.

The proper way to set up for MTF trading using different TF`s is to do a proper balance of your risk profile by structuring your account size to trade this method.

It can be traded with a small account but you have to plan it properly and set up your portfolio before the time.

You also have to set up your EA`s across different TF`s to manage your trades.

It will not suit ALL traders.

I posted this to illustrate to you how I trade MTF.
" Never let the past hold the future to ransom "
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