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MTF Trix system

  • #1,221
  • Aug 21, 2009 10:16am Aug 21, 2009 10:16am
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.
I understood But I thought that maybe during the weekend some people would like to take their charts and learn from your trades. It could be more useful than 6 h backtesting or 6000 demo trades
  • #1,222
  • Aug 21, 2009 10:18am Aug 21, 2009 10:18am
Thanks to Gleneagle, finally my eyes have been opened to the world of forex.

After trying and running after countless indis, waiting for the next big thing, I have finally realized that all indis lag, they can only tell you what has already happened.

For me, I have found my eureka moment, thanks to following three posts by Glen:

http://www.forexfactory.com/showpost...postcount=1036
http://www.forexfactory.com/showpost...postcount=1037
http://www.forexfactory.com/showpost...postcount=1038

Sure, it takes me longer to get into a trade, but I have a reason when I am getting into a trade, not some arrow or brick telling me to buy blindly.

I have removed all indis from my chart, except for pivots and fibs. I am interested in drawing some meaningful horizontal lines. If action is slow, I might get into trendlines too.
Attached Image (click to enlarge)
Click to Enlarge Name: 50 pips.gif Size: 20 KB
WANT WHAT THE MARKET WANTS...
  • #1,223
  • Aug 21, 2009 10:21am Aug 21, 2009 10:21am
The way we trade MTF now works very well.

1) We have a high hitrate
2) We have a simple system
3) It is low maintenance
4) It is very profitable
5) Easy-to-read charts (thanks to Royston)

Don`t get carried away , let us grow into the next level, if and when we really need it.

There are LOTS of pips on offer, you have seen for yourself the trades that were posted on the thread....not MY trades...trades posted by other traders.
" Never let the past hold the future to ransom "
  • #1,224
  • Aug 21, 2009 10:22am Aug 21, 2009 10:22am
Quoting Indrek
I understood But I thought that maybe during the weekend some people would like to take their charts and learn from your trades. It could be more useful than 6 h backtesting or 6000 demo trades

Learn or burn!!!
" Never let the past hold the future to ransom "
  • #1,225
  • Aug 21, 2009 10:22am Aug 21, 2009 10:22am
Quoting Gleneagles
Learn or burn!!!

Just joking....
" Never let the past hold the future to ransom "
  • #1,226
  • Aug 21, 2009 10:26am Aug 21, 2009 10:26am
Quoting Gleneagles
Just joking....
The slogan reminds me of another thread... The one with nuclear disaster approaching fast
  • #1,227
  • Aug 21, 2009 10:28am Aug 21, 2009 10:28am
Quoting lrathi
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!
Hi Lrathi,

In the meantime, I've set up my charts for the correlated pairs, and reduced the chart window so only the mtf indi shows, underneath the full chart for the pair I normally trade.

One glance tells me of currency strength, mtf position, atr/adr, pivots and divergence.

Wow.....

regards

Pardy
  • #1,228
  • Aug 21, 2009 10:28am Aug 21, 2009 10:28am
If you traded ALL of the signals on :

GBPUSD
GBPJPY
AUDJPY
EURJPY

only during the times we discussed earlier in the thread.

With the TP levels mentioned.

Not jumping the gun like I did early on Monday during Asian session.

Your account balance would be + 1200 pips.
If I am out either way by a few pips....I am SO SORRY
" Never let the past hold the future to ransom "
  • #1,229
  • Aug 21, 2009 10:29am Aug 21, 2009 10:29am
Quoting Gleneagles
Learn or burn!!!
Actually Indrek is a fast learner and helping us learn every day.

Everyday that I learn something new is a great day.
WANT WHAT THE MARKET WANTS...
  • #1,230
  • Aug 21, 2009 10:32am Aug 21, 2009 10:32am
Quoting Gleneagles
If you traded ALL of the signals on :

GBPUSD
GBPJPY
AUDJPY
EURJPY

only during the times we discussed earlier in the thread.

With the TP levels mentioned.

Not jumping the gun like I did early on Monday during Asian session.

Your account balance would be + 1200 pips.
If I am out either way by a few pips....I am SO SORRY
Let us master the basics first, get comfortable with our setups.

After that we pick the low-hanging fruit first (1200 pips) before we climb up the tree
" Never let the past hold the future to ransom "
  • #1,231
  • Aug 21, 2009 10:34am Aug 21, 2009 10:34am
Quoting Trader7
GBPJPY

LWMA 8,3,6

Trix 5m, 30m

Result : 25 + 35 + 15 = 75
It is becoming a habit now , I see
" Never let the past hold the future to ransom "
  • #1,232
  • Aug 21, 2009 10:37am Aug 21, 2009 10:37am
Quoting countex
Actually Indrek is a fast learner and helping us learn every day.

Everyday that I learn something new is a great day.

Believe me, just when I think I know everything, I get a surprise, normally an unpleasant one

I want to stay ahead of the game, so I am prepared to learn every day as well!
" Never let the past hold the future to ransom "
  • #1,233
  • Aug 21, 2009 10:52am Aug 21, 2009 10:52am
OK trading is done for the week, time now to take break.

I will post a few guidelines on TP and SL levels before trading starts on Monday.

Have a great weekend all!
" Never let the past hold the future to ransom "
  • #1,234
  • Aug 21, 2009 11:00am Aug 21, 2009 11:00am
Quoting Indrek
The slogan reminds me of another thread... The one with nuclear disaster approaching fast
very funny, http://www.forexfactory.com/images/icons/icon10.gif
  • #1,235
  • Aug 21, 2009 11:01am Aug 21, 2009 11:01am
Quoting Indrek
Here are my first three trades with this system.
I used the "less is more" principle suggested by Edgetrader. Traded full lots and exited with a small number of pips.
Hi guys!

I wish to know, this indicator "HeikenAshi_Sw Alert", is it so important in this system? I can't find it. Could someone insert this indicator?

thank you!
  • #1,236
  • Aug 21, 2009 11:10am Aug 21, 2009 11:10am
Quoting Gleneagles
It is becoming a habit now , I see

Good habit picked up from you.

The 3rd Take Profit was supposed to have been 50 but the Trailing Stop of 20 got triggered resulting in a reduced profit of 15.

Would it be advisable to increase the Trailing Stop for GBPJPY from 20 to 25?

Have a nice weekend.
  • #1,237
  • Aug 21, 2009 11:23am Aug 21, 2009 11:23am
Quoting vasi
Hi guys!

I wish to know, this indicator "HeikenAshi_Sw Alert", is it so important in this system? I can't find it. Could someone insert this indicator?

thank you!
Absolutely irrelevant! Forget it
Do not read what was written at the first pages. Everything has changed radically, I have updated the introduction after 70 pages, so first 30-40 pages of the thread are for sure not important any more.
  • #1,238
  • Aug 21, 2009 11:31am Aug 21, 2009 11:31am
Quoting vasi
Hi guys!

I wish to know, this indicator "HeikenAshi_Sw Alert", is it so important in this system? I can't find it. Could someone insert this indicator?

thank you!

Hi,

I didn't see this indicator to become important for this system. If you reread the last 20 pages (perhaps) you will nowhere see it on a recent chart. But if you like it - here it is:

Attached File(s)
File Type: ex4 Heiken Ashi_SWAlert.ex4   4 KB | 343 downloads


Attached File(s)
File Type: mq4 Heiken Ashi_SWAlert.mq4   5 KB | 424 downloads



Have a nice weekend
If there are pips you can collect - just do it!
  • #1,239
  • Aug 21, 2009 11:48am Aug 21, 2009 11:48am
Quoting Indrek
Glen, have you done any research (probably you have ) about how much is the MA needed in our system. Right now, the arrows on our charts include both Trix and MA. If we quit using MA and use only Trix, how different could the results be?
Visually I would say that the signals of Trix and MA mostly match, and if there is a higher TF confirmation (sometimes even double or triple one) then - would it be dangerous to trade only with this indy that Royston has made for us?
Indrek,

Last night when I was constructing this system for my Tradestation platform I asked myself the same question. On the 15 min chart for GU over the past week I only saw two TRIX signals that the MA filter would have correctly screened out. And if we were following Glen's suggestion of only entering upon the break of the signal candle, we would not have entered those trades anyway.

So the MA filter does work, but it filters out very few trades.

One more thing to add, it may filter out more signals in a ranging market. So I, personally, am going to look into this MA thing a little further. But for now, it appears to me that it is not really needed.

Hope this helps,
Doc
  • #1,240
  • Aug 21, 2009 11:55am Aug 21, 2009 11:55am
Quoting DocPMD
Indrek,

Last night when I was constructing this system for my Tradestation platform I asked myself the same question....
Thanks, I already set MA period to 1 in ScalperSignals And Glen probably did the same.
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