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MTF Trix system

  • #1,401
  • Edited 4:53am Aug 25, 2009 12:47am | Edited 4:53am
Quoting xecret
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?
But H1 is long while M5 and M15 are short? We do nothing as the TFs do not match.
  • #1,402
  • Edited 12:59am Aug 25, 2009 12:54am | Edited 12:59am
Quoting Indrek
But H1 is long while M5 and M15 are short? We do nothing as the TFs do not match.

I leave now until evening. Happy trading to everybody!
At the moment when H1 was sigalling long, M15 and M5 were all long. I mean what should we do at that moment while H1 just signaled and M15&M5 had already signaled ahead of H1.
  • #1,403
  • Aug 25, 2009 2:02am Aug 25, 2009 2:02am
Quoting Indrek
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
Hi Indrik,

Not quite talking about dismissing the M5 altogether...

What I was trying to say is if the M5 is messy, but the M15 is more logical, can you trade the M15 (based on as reasonable an M5 entry as you could get) despite the fact that the M5 is all over the place?

Thanks for giving your view.

Thanks for your advice. It answered my question.

R
How do you make a small fortune in Forex? Start with a large one!
  • #1,404
  • Aug 25, 2009 2:11am Aug 25, 2009 2:11am
Short GU 30 5

Entry 1.6383
SL 25 pip
TP#1 25 pip
TP#2 30 pip

Risk 2%
Profit 2.3%

Also got +20 on EJ short earlier.
Attached Image(s) (click to enlarge)
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  • #1,405
  • Aug 25, 2009 4:40am Aug 25, 2009 4:40am
Same trade as Doc

manual exits around S1 and remainder allowed to run. looking back at it I took the low of the preceding 30min candle not the 30min signal candle, though all TF's matched so this is probably still conservative.
Attached Image (click to enlarge)
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  • #1,406
  • Aug 25, 2009 4:46am Aug 25, 2009 4:46am
Quoting xecret
At the moment when H1 was sigalling long, M15 and M5 were all long. I mean what should we do at that moment while H1 just signaled and M15&M5 had already signaled ahead of H1.
It usually happens that M5 and M15 are signalling earlier than H1. It is logical - the signal is like a wave that starts from M1 and rolls over other TFs if it is strong enough.
When H1 signals long and others are already long then we have to wait for the next retracement at least on M5 and enter when there will be a new long signal on M5.
I have ignored the principle on some occasions and entered at the break of H1 candle as soon as the break happened. You can look for Glen's comment on that somewhere in this thread. He said that in principle the break of H1 and H4 signal candle is tradeable if you know what you do and have a good feeling of PA.
  • #1,407
  • Aug 25, 2009 5:02am Aug 25, 2009 5:02am
60 15 5

GBPUSD

60M signal 06H00 GMT (same as yesterday)
Attached Image (click to enlarge)
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" Never let the past hold the future to ransom "
  • #1,408
  • Aug 25, 2009 5:03am Aug 25, 2009 5:03am
60 15 5

GBPUSD
Possible entries from 5M TF.
Attached Image (click to enlarge)
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" Never let the past hold the future to ransom "
  • #1,409
  • Aug 25, 2009 5:06am Aug 25, 2009 5:06am
30 5 entries would have paid as well.

Charts posted already earlier.

The market is fairly choppy and messy with no clear direction.

If you feel comfortable taking a smaller TP , nothing wrong with that.
" Never let the past hold the future to ransom "
  • #1,410
  • Aug 25, 2009 5:15am Aug 25, 2009 5:15am
Quoting Indrek
It usually happens that M5 and M15 are signalling earlier than H1. It is logical - the signal is like a wave that starts from M1 and rolls over other TFs if it is strong enough.
When H1 signals long and others are already long then we have to wait for the next retracement at least on M5 and enter when there will be a new long signal on M5.
I have ignored the principle on some occasions and entered at the break of H1 candle as soon as the break happened. You can look for Glen's comment on that somewhere in this thread. He said that in principle the...
Thanks Indrek. I also think it's better to wait for a retracement in such case, just not sure.
  • #1,411
  • Aug 25, 2009 5:18am Aug 25, 2009 5:18am
Quoting Indrek
It usually happens that M5 and M15 are signalling earlier than H1. It is logical - the signal is like a wave that starts from M1 and rolls over other TFs if it is strong enough.
When H1 signals long and others are already long then we have to wait for the next retracement at least on M5 and enter when there will be a new long signal on M5.
I have ignored the principle on some occasions and entered at the break of H1 candle as soon as the break happened. You can look for Glen's comment on that somewhere in this thread. He said that in principle the...

If you have a 60M signal and 15M as well as 5M confirm the signal already, you have a choice:

1) Take the trade if all 3 confirm
2) Wait for a new high/low to form on next 5M candle
3) Wait for a retracement on 5M and a new signal in the direction of the main trend

The options are probably in order from aggressive to conservative entries.

At times the market will take of and not look back.

Scroll back and look at a few previous 60M signals.
Note trading time.
See what the market did and form an opinion/make a decision on what you feel comfortable with.
" Never let the past hold the future to ransom "
  • #1,412
  • Aug 25, 2009 5:37am Aug 25, 2009 5:37am
Quoting Gleneagles
Trading is an addiction only cured by poverty
I can agree with this, i personally know a trader, who is now back to 9-5 job, and renting again, after losing house etc. It cured him from trading, but not from testing/designing systems
  • #1,413
  • Aug 25, 2009 7:42am Aug 25, 2009 7:42am
Quoting Gleneagles
If you have a 60M signal and 15M as well as 5M confirm the signal already, you have a choice:

1) Take the trade if all 3 confirm
2) Wait for a new high/low to form on next 5M candle
3) Wait for a retracement on 5M and a new signal in the direction of the main trend

The options are probably in order from aggressive to conservative entries.

At times the market will take of and not look back.

Scroll back and look at a few previous 60M signals.
Note trading time.
See what the market did and form an opinion/make a decision on what you feel comfortable...
It's very informative. Thank you Glen!
  • #1,414
  • Edited 8:22am Aug 25, 2009 8:07am | Edited 8:22am
Anybody using UpdateStop EA? I still cannot understand its settings... I took a trade and it moved my SL in a very strange way, I even did not understand how and where... As a result was stopped out in a very wrong place...
Can anybody help me with this?
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  • #1,415
  • Aug 25, 2009 8:14am Aug 25, 2009 8:14am
Glen (or anyone willing to answer),at A H1-M15-M5 confirmed. But is facing 1.6400. Would you enter at B when price broke the M5 high and 1.6400.
http://clip2net.com/clip/m14233/thum...-clip-22kb.png
  • #1,416
  • Aug 25, 2009 8:18am Aug 25, 2009 8:18am
Quoting xecret
Glen (or anyone willing to answer),at A H1-M15-M5 confirmed. But is facing 1.6400. Would you enter at B when price broke the M5 high and 1.6400.
Did it - entered at 1.6402. See previous post
It was a double break - 1.6400 and M5 high that was 1.6401.
  • #1,417
  • Aug 25, 2009 8:25am Aug 25, 2009 8:25am
Quoting Indrek
Did it - entered at 1.6402/05. See previous post
It tested 1.6400ish several times and failed so I was not confident to take it.

http://clip2net.com/clip/m14233/thum...-clip-28kb.png
  • #1,418
  • Aug 25, 2009 8:28am Aug 25, 2009 8:28am
Quoting xecret
It tested 1.6400ish several times and failed so I was not confident to take it.
Yes but in previous cases when it tested 00 there was no valid M5 signal with other TF confirmation? At least on my chart. Now at last there was one and if to add the break of 00 level it was a strong signal.
BTW: it is interesting to compare our charts as I use Trix 2,1,1,1 and you Trix 3,1,1,1. Easy to see the difference in the number of signals.
  • #1,419
  • Aug 25, 2009 8:45am Aug 25, 2009 8:45am
I also took this trade for 25 pips I put in a line at the high of the previous session, this was obviously cautious entry based on the fail below this line during the between recommended hours session. Worked ok also momentum kicked in.

I also tried entries on EURUSD past the Daily R1 and EURJPY at the daily Pivot but these I closed out at BE and 5 pips as relativees turned up. I also find it pretty tought trying to manage 3 seperate trades at the same time so may need to look at those EA's. They also were more based on C4 momentum/corralation that MTF Trix.

Total so far approx 50 pips for the day
Attached Image(s) (click to enlarge)
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  • #1,420
  • Edited 11:27am Aug 25, 2009 11:12am | Edited 11:27am
GBP has been in a downtrend over the last few days. 6400 presented some stiff resistance which it broke, though sheepishly after much efforts.

I went short at 6420, could have taken a nice 100 pip profit, but I am holding on to 6220, my first 200 pips trade (if my theory is right).

SL: 1.6385 (35 pips locked)
WANT WHAT THE MARKET WANTS...
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