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MTF Trix system

  • #1,501
  • Aug 26, 2009 9:32am Aug 26, 2009 9:32am
The price action was really messy when EUR/LDN session started.

It was a nasty 50 pip range before the main trend resumed.
" Never let the past hold the future to ransom "
  • #1,502
  • Aug 26, 2009 9:38am Aug 26, 2009 9:38am
Quoting Gleneagles
The price action was really messy when EUR/LDN session started.

It was a nasty 50 pip range before the main trend resumed.

Glen, if i trade 240 and 60 min tf..i wiat for 240 trend and then entry is after 60 min arraow appear..

Do i need to get something, high low on such a way of tradeing or i may free make an entry after that 60 min?

Regards
Work smart not hard
  • #1,503
  • Edited 10:24am Aug 26, 2009 9:45am | Edited 10:24am
I continued in my style and took 15 more pips from EURJPY. Right now, it works better for me to forget leangthier trades. Overall + 55 pips today trading 0.2+0.2 lots. Not too much but at the same time - spent no more than 10 minutes per trade, i.e 70 minutes for the day.
I think my results will improve when I forget such a nasty pair as EURJPY
Attached Image (click to enlarge)
Click to Enlarge Name: 2608 6.gif Size: 44 KB
  • #1,504
  • Aug 26, 2009 10:06am Aug 26, 2009 10:06am
Quoting sony
Glen, if i trade 240 and 60 min tf..i wiat for 240 trend and then entry is after 60 min arraow appear..

Do i need to get something, high low on such a way of tradeing or i may free make an entry after that 60 min?

Regards

sony,

If you use 240M as a trend filter, you don`t have to wait for 60M signal as well.
I normally look at 240 15 5.
Bear in mind though that trading 240M TF requires a fairly big SL.
" Never let the past hold the future to ransom "
  • #1,505
  • Aug 26, 2009 10:16am Aug 26, 2009 10:16am
Quoting Gleneagles
sony,

If you use 240M as a trend filter, you don`t have to wait for 60M signal as well.
I normally look at 240 15 5.
Bear in mind though that trading 240M TF requires a fairly big SL.

Thanks Glen

But please check that too... 240 and then 60 entry ..bt only if there is broken high low on the 60 signal bar...

By the way that 60 15 5 sistem loos nice but i bareky can find few signals per week on that gbpjpy pair...maybe that is only me...

For now..this is a best sistem i used so far..this with understanig of VSA and one can become rich guy

Thanks for shareing
Work smart not hard
  • #1,506
  • Aug 26, 2009 10:27am Aug 26, 2009 10:27am
Glen,
I am afraid that due to your late IT problems you did not notice my post # 1442 (http://www.forexfactory.com/showpost...postcount=1442). Could you clarify the matter for us?
Thanks
  • #1,507
  • Aug 26, 2009 10:45am Aug 26, 2009 10:45am
Quoting Indrek
Glen,
I am afraid that due to your late IT problems you did not notice my post # 1442 (http://www.forexfactory.com/showpost...postcount=1442). Could you clarify the matter for us?
Thanks
Sorry, will look now.
" Never let the past hold the future to ransom "
  • #1,508
  • Aug 26, 2009 10:50am Aug 26, 2009 10:50am
Quoting Indrek
Glen,
I think one important nuance has not been explained too clearly yet. - For how long do you consider a H1 or H4 signal valid for re-entry? I know that it depends much about the market situation but still - how many signals on M5 are usually valid after H1/H4 signal? and is a H1/H4 signal valid only during one period (1 hour or 4 hours respectively) or sometimes even longer?
Thanks.

The signal remains until there is an opposite signal.
Because trends don`t run forever, the best place to enter is as close as possible to signal arrow. The beginning of the trend?

If you want to consider a reentry i.e. take your entry from 5M candle with confirmation from higher TF`s, make sure that you check ADR plus the other rules. To trade a top or bottom usually means a loss.
" Never let the past hold the future to ransom "
  • #1,509
  • Aug 26, 2009 10:54am Aug 26, 2009 10:54am
Quoting Gleneagles
The signal remains until there is an opposite signal.
Because trends don`t run forever, the best place to enter is as close as possible to signal arrow. The beginning of the trend?

If you want to consider a reentry i.e. take your entry from 5M candle with confirmation from higher TF`s, make sure that you check ADR plus the other rules. To trade a top or bottom usually means a loss.
Thanks for the quick answer
I have so far used only 2-3 first M5 signals after the signal on H1/H4. I understand now that this is even too conservative?
  • #1,510
  • Aug 26, 2009 11:00am Aug 26, 2009 11:00am
Quoting Indrek
Thanks for the quick answer
I have so far used only 2-3 first M5 signals after the signal on H1/H4. I understand now that this is even too conservative?
On 60M it may not be too conservative. It is difficult to give a definite rule.
If the markets are trending, you can enter when and where you want to.
The problem is, we don`t really know.

This time of year can be quite choppy and messy with no sustainable trends.
Best is to try and get in as close as possible to trend signal and take what you can. Normally the trading ranges will increase in September and going forward.
It does help to take a few more pips out of the market.
" Never let the past hold the future to ransom "
  • #1,511
  • Aug 26, 2009 11:24am Aug 26, 2009 11:24am
I looked through the attachments for a Fib indicator--anyone have one they would share?
  • #1,512
  • Aug 26, 2009 11:26am Aug 26, 2009 11:26am
Quoting mary4x
I looked through the attachments for a Fib indicator--anyone have one they would share?
What should this indicator do? You can draw Fib lines by the default Fib tool in your MT4. Or what did you mean?
  • #1,513
  • Aug 26, 2009 12:18pm Aug 26, 2009 12:18pm
Quoting Indrek
I continued in my style and took 15 more pips from EURJPY. Right now, it works better for me to forget leangthier trades. Overall + 55 pips today trading 0.2+0.2 lots. Not too much but at the same time - spent no more than 10 minutes per trade, i.e 70 minutes for the day.
I think my results will improve when I forget such a nasty pair as EURJPY
Hi Indrek, I'm new in this Thread and I'm trying to follow this system. I need please your assitance, after read all post I'm trying to my charts looks like yours (to try to undestand better the system), can you please let me know wich indi are you using and the setup, if I'm not wrong you're using AutiPivot, xADR_0.02 and MTF_Trix_Meter (four times) but you don't use smCScalper_Signal, what do you use??

Sorry for my question, I know that you answer in a several times this kind of question.

Thank in advance and THANK YOU to everybody here for a really Great Thread
  • #1,514
  • Aug 26, 2009 12:39pm Aug 26, 2009 12:39pm
I would use it for points where trades might show support/resistance/retracement. I've read up on Fibonacci numbers and I see Gleneagles refers to them often. Just wanted to look at the numbers on a chart to see if they're something I could use.
  • #1,515
  • Aug 26, 2009 12:45pm Aug 26, 2009 12:45pm
Quoting mary4x
I would use it for points where trades might show support/resistance/retracement. I've read up on Fibonacci numbers and I see Gleneagles refers to them often. Just wanted to look at the numbers on a chart to see if they're something I could use.
This is a version combined with pivot point which I find helpful. Hope this helps.
Attached File(s)
File Type: mq4 Fibonacci Pivots THV.mq4   5 KB | 484 downloads
/ ... clarifying decisions ... /
  • #1,516
  • Edited 1:18pm Aug 26, 2009 1:05pm | Edited 1:18pm
Quoting Bull
Hi Indrek, I'm new in this Thread and I'm trying to follow this system. I need please your assitance, after read all post I'm trying to my charts looks like yours (to try to undestand better the system), can you please let me know wich indi are you using and the setup, if I'm not wrong you're using AutiPivot, xADR_0.02 and MTF_Trix_Meter (four times) but you don't use smCScalper_Signal, what do you use??

Sorry for my question, I know that you answer in a several times this kind of question.

Thank in advance and THANK YOU to everybody here for...
Hi,

I certainly use Sm Scalper Signals - the arrows you see on my chart belong to it.
All indicators that I use are shown on the picture.
Attached Image
  • #1,517
  • Aug 26, 2009 1:11pm Aug 26, 2009 1:11pm
Quoting mary4x
I would use it for points where trades might show support/resistance/retracement. I've read up on Fibonacci numbers and I see Gleneagles refers to them often. Just wanted to look at the numbers on a chart to see if they're something I could use.
Ok, understood now, it was just a terminological misunderstanding. You are talking about Pivot points that really serve as S/R levels. A very good indicator that both Glen and I use is AutoPivot but there are plenty of others around, also in FF. AutoPivot was posted here by Glen lately. I am sure you find it easily
Fibonacci is also a very useful tool for finding S/R levels but this is another story.
  • #1,518
  • Aug 26, 2009 1:40pm Aug 26, 2009 1:40pm
Yes, I've tried this pivot points indicator, The horizontal lines are fine, but the printing is quite large and obscures the info I need to see on the right side of my chart. Indrek, I see you're using AutoPivot 2. I'll try that.
  • #1,519
  • Aug 26, 2009 1:45pm Aug 26, 2009 1:45pm
Quoting Gleneagles
The price action was really messy when EUR/LDN session started.

It was a nasty 50 pip range before the main trend resumed.
Hey Glen, not sure if you know too much about renko bars but would you recommend me using it with this system,since you say we need to get in with the main trend as soon as possible and take what we can.Thanks again.
  • #1,520
  • Aug 26, 2009 1:48pm Aug 26, 2009 1:48pm
Quoting stunna29
Hey Glen, not sure if you know too much about renko bars but would you recommend me using it with this system,since you say we need to get in with the main trend as soon as possible and take what we can.Thanks again.
You don`t need renko for this system, normal candlesticks are fine. We are not scalping with this system.
What I mean by " take what we can" is that we will settle for 20-25 pips at times because we won`t see a run of 25 35 50 etc.
" Never let the past hold the future to ransom "
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