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MTF Trix system

  • #1,321
  • Aug 24, 2009 3:43am Aug 24, 2009 3:43am
Quoting Indrek
Long time no losers posted. Here is one. It was supposed to be both H4 and H1 trade. No 00 level nearby, right under weekly and monthly pivots. Should be safe but was not. That's what trading is

Possibly SL was just too small (30 pips). But early to say right now.
Indrek,

On my chart attached the down signal appeared one candle earlier. H1 TF in down trend. signal candle below MA, taking trade at break of the low of this signals candle, blue line gave 20+ pips easily. Using DXTrade C4 v3.2 set to 2,8,8 to provide signal arrow.. Maybe a tweak needed here.

regards

Nick
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  • #1,322
  • Aug 24, 2009 3:46am Aug 24, 2009 3:46am
Quoting Nick'em
Indrek,

On my chart attached the down signal appeared one candle earlier. H1 TF in down trend. signal candle below MA, taking trade at break of the low of this signals candle, blue line gave 20+ pips easily. Using DXTrade C4 v3.2 set to 2,8,8 to provide signal arrow.. Maybe a tweak needed here.

regards

Nick
OK, I understand now - you use Trix 2,1,1,1 instead of 3,1,1,1 and this is faster. Sure, have to check it out if there is a reason to change.
Glen, what is your idea about using Trix 2,1,1,1 for M5 or even all the TFs?
  • #1,323
  • Aug 24, 2009 3:48am Aug 24, 2009 3:48am
Thats why I dislike waiting for the 4hr signal. 1hr is about all the patience I have
  • #1,324
  • Aug 24, 2009 3:53am Aug 24, 2009 3:53am
[quote=Indrek;2982328]I noticed that there is a crook hunt going on in FF again (referring to what has been written in http://www.forexfactory.com/showthre...86533&page=121 lately).


Hi Intrek,
first time post i was watching closely your thread and trying to follow Glen's guidelines.
This post is right 200%.I agree tht were there is smoke there is fire behind.Keep up the good work and growth of the ignore list!

John
  • #1,325
  • Aug 24, 2009 4:50am Aug 24, 2009 4:50am
Just stick to 60 15 5 and possibly 30 5 trading for now.

The markets are choppy and if you want to trade 240M as a standalone, you need a fairly big SL.

We will deal with trading the bigger TF`s in due course.

There is enough pips on offer on 60M to keep everyone busy and happy.
" Never let the past hold the future to ransom "
  • #1,326
  • Aug 24, 2009 4:57am Aug 24, 2009 4:57am
Quoting Gleneagles
Just stick to 60 15 5 and possibly 30 5 trading for now.

The markets are choppy and if you want to trade 240M as a standalone, you need a fairly big SL.

We will deal with trading the bigger TF`s in due course.

There is enough pips on offer on 60M to keep everyone busy and happy.
My loser was from H1 as well as H4 and I set SL/TP according to H1
But I was even not unhappy as I knew that soon I had to lose
  • #1,327
  • Aug 24, 2009 5:02am Aug 24, 2009 5:02am
Quoting Indrek
My loser was from H1 as well as H4 and I set SL/TP according to H1
But I was even not unhappy as I knew that soon I had to lose
Right, it is part of trading. Look at batches of 20 trades and then calculate your results. To judge your trading results on a trade-by-trade basis is like weighing yourself 6 times a day
" Never let the past hold the future to ransom "
  • #1,328
  • Aug 24, 2009 5:05am Aug 24, 2009 5:05am
Quoting Indrek
OK, I understand now - you use Trix 2,1,1,1 instead of 3,1,1,1 and this is faster. Sure, have to check it out if there is a reason to change.
Glen, what is your idea about using Trix 2,1,1,1 for M5 or even all the TFs?
Changing the Trix to 2 1 1 1 will in certain instances give you a quicker entry.
During certain market conditions, there may be advantages but you have to deal with a lot more false signals as well.
" Never let the past hold the future to ransom "
  • #1,329
  • Aug 24, 2009 5:09am Aug 24, 2009 5:09am
Quoting Gleneagles
Changing the Trix to 2 1 1 1 will in certain instances give you a quicker entry.
During certain market conditions, there may be advantages but you have to deal with a lot more false signals as well.
I will try a combination of Trix 2,1,1,1 on M5 and Trix 3,1,1,1 on all other TFs. Somehow I feel that higher TFs are able to filter out the false signals caused by faster Trix on M5.
  • #1,330
  • Aug 24, 2009 5:12am Aug 24, 2009 5:12am
I went in on the same trade but off the 1hr. The 1hr candle closed on mine at 1.6574 and I looked at the 5min chart, everything was already pointing down so went in at 1.6572. TP set at 25 pips which it reached, I have everything set to 3.
  • #1,331
  • Aug 24, 2009 5:15am Aug 24, 2009 5:15am
Quoting luckylady
I went in on the same trade but off the 1hr. The 1hr candle closed on mine at 1.6574 and I looked at the 5min chart, everything was already pointing down so went in at 1.6572. TP set at 25 pips which it reached, I have everything set to 3.
We are probably talking about different trades. I also took it from H1 chart but the entry price was 1.6451. Far away from the numbers you mentioned...
  • #1,332
  • Aug 24, 2009 5:23am Aug 24, 2009 5:23am
I have received a PM from a member saying that he is working on MTF Trix dashboard and very soon he ise going to send a beta version to me for reviewing
I like the way how we all cooperate here. Very constructive and very developing atmosphere!
  • #1,333
  • Aug 24, 2009 5:27am Aug 24, 2009 5:27am
Quoting Indrek
I have received a PM from a member saying that he is working on MTF Trix dashboard and very soon he ise going to send a beta version to me for reviewing
I like the way how we all cooperate here. Very constructive and very developing atmosphere!
That sounds like a great suggestion. Is the manual still to be published as well?

And what is Glen's/Indrik's advice on what to do when the market is choppy? Just scale down to the M30/M5 setup?
How do you make a small fortune in Forex? Start with a large one!
  • #1,334
  • Aug 24, 2009 5:29am Aug 24, 2009 5:29am
Quoting paidperpip
That sounds like a great suggestion. Is the manual still to be published as well?
I am afraid, Glen has not made his final comments yet about the manual. As we had to catch the crook first to maybe save some people's money
  • #1,335
  • Aug 24, 2009 5:30am Aug 24, 2009 5:30am
Quoting Indrek
We are probably talking about different trades. I also took it from H1 chart but the entry price was 1.6451. Far away from the numbers you mentioned...
This is my chart, sorry for the large circle, couldn't change it once I'd done it
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  • #1,336
  • Aug 24, 2009 5:34am Aug 24, 2009 5:34am
Now I see what we've done. You waited for another signal on the 5min and I didn't. I was getting very confused there for a moment but now I see it
  • #1,337
  • Aug 24, 2009 5:35am Aug 24, 2009 5:35am
Quoting luckylady
This is my chart, sorry for the large circle, couldn't change it once I'd done it
Understood. You just misspelled the numbers in your first post. You went in at 1.6472 not 1.6572.
Case closed
  • #1,338
  • Aug 24, 2009 5:36am Aug 24, 2009 5:36am
Quoting luckylady
Now I see what we've done. You waited for another signal on the 5min and I didn't. I was getting very confused there for a moment but now I see it
I did not wait for another signal, I just opened my computer later
  • #1,339
  • Aug 24, 2009 5:38am Aug 24, 2009 5:38am
Quoting Indrek
We are probably talking about different trades. I also took it from H1 chart but the entry price was 1.6451. Far away from the numbers you mentioned...
06H00 GMT 60m candle opened @ 16488 approximately.

15M and 5M confirmed.

There was a weekly and monthly pivot 15-20 pips away. It did bounce around but even an entry below the pivots would have paid 25 pips.
Attached Image (click to enlarge)
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" Never let the past hold the future to ransom "
  • #1,340
  • Aug 24, 2009 5:40am Aug 24, 2009 5:40am
Quoting paidperpip
That sounds like a great suggestion. Is the manual still to be published as well?

And what is Glen's/Indrik's advice on what to do when the market is choppy? Just scale down to the M30/M5 setup?
Hi Paidperpip,

I'm not sure if you mean this:

http://www.forexfactory.com/showpost...&postcount=263

and this

http://www.forexfactory.com/showpost...&postcount=268

If this was not the answer to your question - sorry


Have a good week

If there are pips you can collect - just do it!
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