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MTF Trix system

  • #1,261
  • Aug 21, 2009 12:29pm Aug 21, 2009 12:29pm
Quoting Gleneagles
Carol,

I don`t use that EA but will post settings.
I use it but I have 6 different sets of settings that I choose from according to what pair I trade, what TF gives the first signal and what I think about the trend strength... Quite impossible to suggest anything to anybody...
  • #1,262
  • Edited 1:00pm Aug 21, 2009 12:43pm | Edited 1:00pm
Quoting Indrek
I use it but I have 6 different sets of settings that I choose from according to what pair I trade, what TF gives the first signal and what I think about the trend strength... Quite impossible to suggest anything to anybody...
The settings will just be a guideline.

In the end the traders must choose whether they want to use it.
It is their money and their risk.

It is a suggestion only based on differences in trading ranges, volatility etc.

It is then up to the traders to use their own discretion, try different settings or experiment.

There is a wide choice of options how you can manage your trade, you can have 1 or 4 different TP levels, with TS or without, in the end it is a personal decision.

The trades unfortunately do not come prepackaged in large, medium and small. The PA the same, no smooth, so-so or OH-NO..

You have to take a view and leave the emotions on the sidelines when you use an EA.
" Never let the past hold the future to ransom "
  • #1,263
  • Aug 21, 2009 12:46pm Aug 21, 2009 12:46pm
I realize that the settings will be different for each currency, but there were some settings in the EA that I wasn't sure about.

Thanks for your help.
  • #1,264
  • Aug 21, 2009 7:54pm Aug 21, 2009 7:54pm
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 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...

sorry Glen, where is the buy arrow right at the blue line?
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  • #1,265
  • Aug 21, 2009 9:17pm Aug 21, 2009 9:17pm
Quoting blackmovie
sorry Glen, where is the buy arrow right at the blue line?
I am guessing that the blue line was a valid entry in as much as it satisfied all conditions except the fact that you would have wanted the trade to push through the 00 point at 1.6500 in order to be profitable...

It was valid because it was above the MA, but was not taken because of the 00 above it. The green line shows not only that the PA was above the signal candle (including shadow) at 1.6554, but that it is also above the '00' mark, making it now safe to trade.

I know you are asking where the actual buy arrow is. Even without going back to the actual historical chart, you can see that the PA is above the MA. If you want to go back to the actual chart, you will probably find that the arrow had occurred previously, and was off screen at the time the pic was taken.

Glen, please feel free to correct me if I got that wrong...

I see that the reason why you put that example up was to demonstrate how price can take its time to break through a '00' level, and how, if you recognize that level, you can simple hold off on taking the trade until it has made its way through that point. I am also guessing that in all probability, the '00' level may sometimes prove too much of an S/R line for the PA to breakthrough, meaning that the market could turn and take out your stop loss?

The example was a good 'real world' one, because you can clearly see that the PA had some difficulty making its mind up which way it wanted to go. The intersection of the white horizontal line and the green vertical line is the correct entry.

Essentially, we are trading the cumulative velocity of the higher time frames, but we time our entries on the M5 to minimise drawdown along the way.

That extra 45 minute wait might have been the difference between taking a trade with little or no drawdown, or a 33 pip drawdown or perhaps worse, had the daily and monthly pivots not been there.

Russ
How do you make a small fortune in Forex? Start with a large one!
  • #1,266
  • Aug 21, 2009 10:11pm Aug 21, 2009 10:11pm
Quoting paidperpip
It was valid because it was above the MA, but was not taken because of the 00 above it....
The arrow was on H1 chart while this is a M5 chart. So, the blue line marks the point where trend changed on H1, which means that from this point we are looking for a buy.
As already discussed and decided, MA has no importance in this system and may be forgotten. We trade only Trix with higher TF confirmation.
Glen was not saying that we had an arrow on the blue line. He said that there was a valid long signal on the blue line as all three TFs signalled long. But we still had to wait for an arrow on M5 to enter.
Hope, it clarifies a bit
  • #1,267
  • Aug 21, 2009 11:41pm Aug 21, 2009 11:41pm
Quoting paidperpip
I am guessing that the blue line was a valid entry in as much as it satisfied all conditions except the fact that you would have wanted the trade to push through the 00 point at 1.6500 in order to be profitable...

It was valid because it was above the MA, but was not taken because of the 00 above it. The green line shows not only that the PA was above the signal candle (including shadow) at 1.6554, but that it is also above the '00' mark, making it now safe to trade.

I know you are asking where the actual buy arrow is. Even without going back...
Good explanation
" Never let the past hold the future to ransom "
  • #1,268
  • Aug 21, 2009 11:45pm Aug 21, 2009 11:45pm
Indrek is correct about the blue line, it is where the 60M trend change happened.

There was a valid buy signal on 5M chart already, you can see from the arrow on the chart where it signaled.

I drew a horizontal white line on the chart at the 00 level, in this case 16500.

It was the only reason why we did not jump straight into the trade.
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" Never let the past hold the future to ransom "
  • #1,269
  • Aug 21, 2009 11:58pm Aug 21, 2009 11:58pm
Quoting Gleneagles
Indrek is correct about the blue line, it is where the 60M trend change happened.

There was a valid buy signal on 5M chart already, you can see from the arrow on the chart where it signaled.

I drew a horizontal white line on the chart at the 00 level, in this case 16500.

It was the only reason why we did not jump straight into the trade.
Yep. Exactly.
How do you make a small fortune in Forex? Start with a large one!
  • #1,270
  • Aug 22, 2009 12:46am Aug 22, 2009 12:46am
Quoting harar
Hi
Thank you very much for your meter . It is magnificent. I think it will be a good idea if we have the time frame showing on each line as in my picture.(to avoid confusion for people like me) Thanks
Hello!
can anyone explaine who can i got these lines on my window i have only one when attach the indicator.
thanks
  • #1,271
  • Aug 22, 2009 2:36am Aug 22, 2009 2:36am
Quoting Gleneagles
Indrek is correct about the blue line, it is where the 60M trend change happened.

There was a valid buy signal on 5M chart already, you can see from the arrow on the chart where it signaled.

I drew a horizontal white line on the chart at the 00 level, in this case 16500.

It was the only reason why we did not jump straight into the trade.
thanks Glen, so when we wait for a trade with 60 15 5 TFs, first we should always monitor the biggest TF(60m in this case) untile a long or short trix arrow appear on the chart, then when this signal candle close and the signal is confirmed, at the openning of next candle, we should look down to lower TFs,if there is the same direction arrow at the left of current candle and no big number around, we can enter trade. am I right? If I am right, when we follow arrows on the biggest TF chart, should we consider the main trend on the chart?

one more question: when I sit in front of my desk, turn on computer, open MT4 to start trading, I may see signals with same direction have already occured on 60min and 15min TFs several minutes or hours ago, should I only enter trade once 5min signal occure? sorry for my poor english, thanks!
  • #1,272
  • Aug 22, 2009 4:31am Aug 22, 2009 4:31am
Quoting Indrek
The arrow was on H1 chart while this is a M5 chart. So, the blue line marks the point where trend changed on H1, which means that from this point we are looking for a buy.
As already discussed and decided, MA has no importance in this system and may be forgotten. We trade only Trix with higher TF confirmation.
Glen was not saying that we had an arrow on the blue line. He said that there was a valid long signal on the blue line as all three TFs signalled long. But we still had to wait for an arrow on M5 to enter.
Hope,...
hi indrek: but in this case Glen did not wait for an arrow on M5 to enter, only when price break out the 00 line? should we enter once next buy arrow occure on this M5 chart?
  • #1,273
  • Edited 9:30am Aug 22, 2009 8:21am | Edited 9:30am
Quoting blackmovie
hi indrek: but in this case Glen did not wait for an arrow on M5 to enter, only when price break out the 00 line? should we enter once next buy arrow occure on this M5 chart?
The main and absolutely valid signal was the next arrow on M5 after the blue line. But it was safer not to enter immediately after the arrow but only when price broke the 00 line. So, no waiting for the next arrow but waiting for the 00 break.
  • #1,274
  • Aug 22, 2009 9:57am Aug 22, 2009 9:57am
Sorry to intrude.

Have a bit of thread infighting going on at the moment.

Have attached a recent partial posting to the 'FrankenPip' thread. Am going to be starting a new thread soon and am seeking alternative threads to transition those who like the C4 trading method into.

As Indrek has a more aggressive approach to trading, and C4 is capable of being utilized to trade any TF, I thought this to be a good place to send them if you deem it appropriate. Would, imo, be a good fit with the fact that Indrek is soon to return to work off the summer time off and 'Gleneagles' has been doing work here that would also benefit C4 followers.

Please review and advise as to your thoughts on this matter. There are some FF folks that will need a home of sorts in order to continue the base C4 plan as I am moving into another phase.

Best Regards.


Related Posting with pertinent rhetoric highlighted.

Lets holster the sidearms and take a step back.


How about we try this. Will attempt to post this on 'Franks' thread also.

As such, I will propose the following for consideration.

As his thread is an actual takeoff from my own C4 material, would it not be better to simply transition those interested in C4 over to Franks thread whereby they can possibly incorporate C4 into the his train station to station trading that is presented. I can easily edit my front page to attempt to provide some direction for such a transition. My C4 aspect, once I start my intended MT4 Nitro thread, are going to slowly but surely die a slow death anyway imho. Why not give FF patrons the choice themselves instead of wasting so much time and energy on BS?

Everyone (mostly) coming to the FF is seeking some manner of trading knowledge to act upon. Maybe 'Franks' trading methodology does indeed allow for and earlier entry. And perhaps by combining a couple of indicator aspects from C4 into his methodology, those folks can indeed extend their own TP levels a few pips or however they deem appropriate.

Regards.
  • #1,275
  • Edited 1:56pm Aug 22, 2009 11:38am | Edited 1:56pm
Quoting Edgetrader
Sorry to intrude.

Have a bit of thread infighting going on at the moment.

Have attached a recent partial posting to the 'FrankenPip' thread. Am going to be starting a new thread soon and am seeking alternative threads to transition those who like the C4 trading method into.

As Indrek has a more aggressive approach to trading, and C4 is capable of being utilized to trade any TF, I thought this to be a good place to send them if you deem it appropriate. Would, imo, be a good fit with the fact that Indrek is soon to return to work off the summer...
Hi Edge,

Thanks for your proposal, although I do not understand its idea very well...
Let me stress that all people who are interested in learning and developing MTF Trix system are welcome to work with us. So are the people from C4 thread. And, of course, you are free to suggest this thread to anybody if you find it appropriate. I do not think, though, that anybody is responsible for anybody in an anonymous place like FF.
The setup that we use here and the setup used in C4 have matching elements (Trix) but they are not the same. Glen has mentioned that he has traded MTF Trix system for 3 years, I myself started to work on it at the times of the "famous" EURGBP thread. So, the history is longer and the setup was not born in C4.
But, of course, the setups are close enough and many people who started with C4 have smoothly switched to MTF Trix without any problems. We have made a huge progress here and are going to follow the chosen path.
What we are not going to do - we are not going to spend any time or energy on any scalping system.

Regards,
Indrek
  • #1,276
  • Aug 22, 2009 12:05pm Aug 22, 2009 12:05pm
Quoting Indrek
Hi Edge,

Thanks for your proposal, although I do not understand its idea very well...
But, of course, the setups are close enough and many people who started with C4 have smoothly switched to MTF Trix without any problems. We have made a huge progress here and are going to follow the chosen path.
What we are not going to do - we are not going to spend any time and energy on any scalping system.

Regards,
Indrek

[i][b]P.S. Thank you very much for worrying how much I can contribute to my thread while being busy in my...
As I said, was simply looking to transition some folks to a more aggressive trading stategy from a pip perspective as C4 was set forth as a scalping strategy initially but was diverse enough to trade on any TF which naturally made it a candidate for swing trading also.

Never asked that you promote any type of scalping at all. Just if you were willing to accommodate some who could progress from scalping to swing trading if they chose to do so. Nothing more than a recommendation to review your thread on my existing front page if they were so inclined.

The P.S. was a bit cheap though. Never said anything other than to inform that you would soon be returning to your professional agenda which you had mentioned earlier in your thread. Had nothing to do with contribution efforts in any manner. Easy on the assumptions. Was nothing more than a professional coutesy asking anything for FF followers to begin with. Am well aware I owe them nothing.

Regards.

Regards.
  • #1,277
  • Aug 22, 2009 12:10pm Aug 22, 2009 12:10pm
Quoting Gleneagles
Set mine at period 6, for some reason at period 1 it skips a few signals.
Glen, should i put that scalper signal MA on 6 too?

Or it is something more risky?

Regards
Work smart not hard
  • #1,278
  • Aug 22, 2009 12:29pm Aug 22, 2009 12:29pm
great system guys, this thread is progresing nicely.
  • #1,279
  • Aug 22, 2009 12:35pm Aug 22, 2009 12:35pm
Quoting Edgetrader
As I said, was simply looking to transition some folks to a more aggressive trading stategy from a pip perspective as C4 was set forth as a scalping strategy initially but was diverse enough to trade on any TF which naturally made it a candidate for swing trading also.

Never asked that you promote any type of scalping at all. Just if you were willing to accommodate some who could progress from scalping to swing trading if they chose to do so. Nothing more than a recommendation to review your thread on my existing front page if they were so inclined....
This is a free speech community, anybody who likes Indrek's forex trading method will be free to post there comments here.

New FF users will be reading the threads with high success rates and thread admins making positive contributions to the new fx community members.

Although initially this thread may have been an offshoot of C4, just like C4 was an offshoot of Paulus, this thread has totally evolved into a logical trade entry/exit method with a target of atleast 25 pips.

Good luck with pushing plungers.
WANT WHAT THE MARKET WANTS...
  • #1,280
  • Edited 10:23pm Aug 22, 2009 12:46pm | Edited 10:23pm
Quoting countex
This is a free speech community, anybody who likes Indrek's forex trading method will be free to post there comments here.

New FF users will be reading the threads with high success rates and thread admins making positive contributions to the new fx community members.

Although initially this thread may have been an offshoot of C4, just like C4 was an offshoot of Paulus, this thread has totally evolved into a logical trade entry/exit method with a target of atleast 25 pips.

Good luck with pushing plungers.
Thank you for your support!
I will not continue the debate with Edgetrader as it is irrelevant for us in our trading efforts. Was provoked to it but not going to let it continue.
What I will never accept is the attitude that allows someone with no authorities at all to speak about "transition of some folks" to some place. I am sure that people here are all with clear mind and will and should not be treated like in kindergarten or mental hospital.
Sorry for this interruption, and let us go forward with our work here!
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