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MTF Trix system

  • #1,381
  • Aug 24, 2009 12:27pm Aug 24, 2009 12:27pm
Quoting pilotui
So for example on that huge GU candle...

It shows

ADR=131

Room Up= 126

Room Down= -17

So its WAY Too far down to go short.

Is that correct...if so that would be a great guide!

Right.
" Never let the past hold the future to ransom "
  • #1,382
  • Aug 24, 2009 12:28pm Aug 24, 2009 12:28pm
Quoting pilotui
So for example on that huge GU candle...

It shows

ADR=131

Room Up= 126

Room Down= -17

So its WAY Too far down to go short.

Is that correct...if so that would be a great guide!
What we were speaking about was the range of M5 candle. If the signal candle is more than 2 x usual then be careful or even do not trade. And in this context, average daily range is even not important.
If it shows that room down is -17 then it means that daily range has been exhausted and you NEVER take a trade.
  • #1,383
  • Aug 24, 2009 12:29pm Aug 24, 2009 12:29pm
Quoting Indrek
Very difficult day for trading but thanks to proper MM I ended with -4.50 USD only after losing 30+30 pips in the morning...
My last trade was from H1 chart (blue line marks the signal). I would not take it under these market conditions if I was in profit by then.
How did anybody else survive today?
Hello Indrek and Glen
First I would like to thank you guys for your continued great work with Trix. When I saw your last post "almost BE" I figured it was time to post a comment. I've been mtf trend trading for some time now personally I use HMA's they work very similarily to swingman's (thanks) Trix with Royston (thanks) indicator window (his might work better) good work guys.
So what I'm asking you to do is look at trends.....thats what we do long trends or short trends. Look at your picture and you have 4 trends time frames....long and short term trends in Royston window. If you had entered into a trade at the 1 hour trend (color change) and scaled in when the lower trends went in agreement you would have done much better then BE. One could add ma's, hma's or even Heiken Ashi to help with the Trix trends. "The Trend is Your Friend" Personally I hate that saying....but it is true!
Thanks Again Guys
And You Have A Great Day!
AW
  • #1,384
  • Aug 24, 2009 12:30pm Aug 24, 2009 12:30pm
Quoting Indrek
No way... What we were speaking about was the range of M5 candle
Yes, you are right but I said that you should make sure you look at ADR as well.
" Never let the past hold the future to ransom "
  • #1,385
  • Aug 24, 2009 12:33pm Aug 24, 2009 12:33pm
Quoting Gleneagles
Yes, you are right but I said that you should make sure you look at ADR as well.
Sure But in this case, two different topics were messed up a bit - long M5 candle and ADR. They should be treated separately
  • #1,386
  • Aug 24, 2009 12:35pm Aug 24, 2009 12:35pm
Quoting Indrek
Sure But in this case, two different topics were messed up a bit - long M5 candle and ADR. They should be treated separately
Right, we are on the same page again.
" Never let the past hold the future to ransom "
  • #1,387
  • Aug 24, 2009 12:37pm Aug 24, 2009 12:37pm
Quoting AWtraveler
Hello Indrek and Glen
First I would like to thank you guys for your continued great work with Trix. When I saw your last post "almost BE" I figured it was time to post a comment. I've been mtf trend trading for some time now personally I use HMA's they work very similarily to swingman's (thanks) Trix with Royston (thanks) indicator window (his might work better) good work guys.
So what I'm asking you to do is look at trends.....thats what we do long trends or short trends. Look at your picture and you have 4 trends time frames....long and short...
Thanks for the advice "Almost BE" was used as a conclusion for the day in general not for the specific trade.
Unfortunately, I very often do not have enough time to look for perfect trades... Have to take what is available...
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  • #1,388
  • Edited 1:02pm Aug 24, 2009 12:49pm | Edited 1:02pm
I am watching this system on my charts, but I admit that I still have a 50 ema on the chart especially GY, it really helps me for direction, especially on 5M . I won't take a trade until it either goes up to it and is rejected or breaks through. Alot of times it rides GY up under an entire up move, same with a down move. But that is just me, visually it helps me, I have trained myself to look at it first. But with that said I have been staring and trading GY for a year and was about ready to go for a more relaxing pair, your system gives me hope that I can trade it more sucessfully.
  • #1,389
  • Aug 24, 2009 1:25pm Aug 24, 2009 1:25pm
i took these two trade set the quick trail to watch them went to bed got up to

GBPJPY +20 +26
GBPUSD +20 +49

on the GBPJPY had my trail been only 5pips bigger could have got more on it
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  • #1,390
  • Aug 24, 2009 2:09pm Aug 24, 2009 2:09pm
Morning all!

As I see it, one of the easiest ways to deal with the choppy price action of yesterday would have been to go up to the M15 chart, where price looked a little more smoothed... This would have meant a change in TP and SL levels to accommodate, and a revised look at MM, but it would have yielded a better result than the chop I got stuck in yesterday.

Given my time frame, I can really only trade the Asian/London overlap, and a little into the NY open. I see there were some good opportunities in the US session, through to the middle of same, before it started petering off.

My question to Glen/Indrik would be: is it wise to trade the M15 if the M5 is largely undecided in its direction at the time. If so, would the M15 targets and SL's be smaller than normal M15 trading to accommodate for the unsteady PA?
How do you make a small fortune in Forex? Start with a large one!
  • #1,391
  • Aug 24, 2009 4:58pm Aug 24, 2009 4:58pm
Glen (or anyone else who knows the answer),

Tough to articulate this question, but I think you will get the idea.

When trading 30 5 TF's, the signal is generated on the 30 min chart and the entry determined on the 5 min. Easy enough. Then, if the 5 min turns the other direction, we can then look for a reentry trade on the 5 min again, assuming the 30 min is the same direction. Easy enough.

My question is how do we handle reentry trades when we are trading the 240 15 5 or the 60 15 5? The initial entry is straight forward. But are reentry trades taken off of the 15 min TF, the 5 min TF, or both?

Hope this is clear?

Doc
  • #1,392
  • Aug 24, 2009 5:22pm Aug 24, 2009 5:22pm
Quoting pilotui
So for example on that huge GU candle...
It shows
ADR=131
Room Up= 126
Room Down= -17
So its WAY Too far down to go short.
Is that correct...if so that would be a great guide!
what does 'room up ,room down' mean?
  • #1,393
  • Aug 24, 2009 5:28pm Aug 24, 2009 5:28pm
Quoting blackmovie
what does 'room up ,room down' mean?
LOL...

Its the ADR indy
  • #1,394
  • Aug 24, 2009 6:05pm Aug 24, 2009 6:05pm
Quoting DocPMD
Glen (or anyone else who knows the answer),

Tough to articulate this question, but I think you will get the idea.

When trading 30 5 TF's, the signal is generated on the 30 min chart and the entry determined on the 5 min. Easy enough. Then, if the 5 min turns the other direction, we can then look for a reentry trade on the 5 min again, assuming the 30 min is the same direction. Easy enough.

My question is how do we handle reentry trades when we are trading the 240 15 5 or the 60 15 5? The initial entry is straight forward. But are reentry...
I will try to answer this tomy best not going to say it is the correct answer but is how i do it is reentry is still from the 5m on the 240 15 5 and the 60 15 5 but the upper time frames still all have to confirm the same direction..

so if the 5 turned up and the 60 15 still down when 5 turn back down the you have reentry way i see but if the 15 or 60 have also changed to up and are all not down when 5 turn back down no eentry.. correct me if i am wrong but this the way i have been doning it
  • #1,395
  • Aug 24, 2009 6:08pm Aug 24, 2009 6:08pm
i am useing actually on mine 5 15 30 60
GBPJPY +20 +50

so far in last 3 trades +186 pips
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  • #1,396
  • Aug 24, 2009 6:28pm Aug 24, 2009 6:28pm
there was reentry signal on the gbpjpy as you can see the 5 min gave signal and if you look at the bottom all time frames confirmed down but i did not reenter due to the daily S1 right there
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  • #1,397
  • Edited 10:20pm Aug 24, 2009 10:02pm | Edited 10:20pm
Quoting DocPMD
Glen (or anyone else who knows the answer),

Tough to articulate this question, but I think you will get the idea.

When trading 30 5 TF's, the signal is generated on the 30 min chart and the entry determined on the 5 min....
Well, I can say how I see it as long as Glen is not online.
I think that in principle we take all entries and re-entries from M5 with exception of these rare cases when M5/M240 or M5/M60 match already but M15 is still against. Then we wait until M15 also confirms (M15 candle closes with arrow) and enter at the beginning of new M15 candle.
I do it also from M5 chart as the new indicator by Roy allows to do it easily. After he made this last version of his MTF Trix I even do not switch TFs any more, only look at M5 and the indy at the bottom of my chart.
  • #1,398
  • Aug 24, 2009 10:13pm Aug 24, 2009 10:13pm
Quoting paidperpip
My question to Glen/Indrik would be: is it wise to trade the M15 if the M5 is largely undecided in its direction at the time. If so, would the M15 targets and SL's be smaller than normal M15 trading to accommodate for the unsteady PA?
Do you mean that you absolutely forget M5? It would not be wise, I am afraid...
But if M5 is still involved then it is just a question how you define it as you anyway wait M5 and M15 to match.
I usually do not set smaller SL for choppy market but I try to take first profit earlier than usual and at the same moment set SL to BE. So, I can get at least sth out of the market
  • #1,399
  • Aug 24, 2009 10:37pm Aug 24, 2009 10:37pm
Quoting Indrek
Well, I can say how I see it as long as Glen is not online.
I think that in principle we take all entries and re-entries from M5 with exception of these rare cases when M5/M240 or M5/M60 match already but M15 is still against. Then we wait until M15 also confirms (M15 candle closes with arrow) and enter at the beginning of new M15 candle.
I do it also from M5 chart as the new indicator by Roy allows to do it easily. After he made this last version of his MTF Trix I even do not switch TFs any more, only look at M5 and the indy at the bottom of my...
me either with the new MTF Trix i do not leave the 5m chart anymore as with a quick look to the bottom of my chart i can see that what is going on
  • #1,400
  • Aug 24, 2009 10:44pm Aug 24, 2009 10:44pm
http://clip2net.com/clip/m14233/thum...-clip-15kb.png
By the moment we recieve an H1 signal where a vert line is marked, M5 and M15 had already signaled. In this case what shall we do?
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