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MTF Trix system

  • #1,541
  • Aug 27, 2009 1:31am Aug 27, 2009 1:31am
Quoting luckylady
Further to this post, if you look at my chart above, the only signal that would not have worked and would have hit my SL of 30 pips was the signal before the one I took. I didn't take it because it didn't go 2 pips below the signal candle.
I have used the formula 1 pip + spread under/above the signal candle. A bit more conservative
  • #1,542
  • Aug 27, 2009 2:55am Aug 27, 2009 2:55am
Daily chart
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_01 Aug. 27 09.52.gif Size: 19 KB
" Never let the past hold the future to ransom "
  • #1,543
  • Aug 27, 2009 2:56am Aug 27, 2009 2:56am
240M chart
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_02 Aug. 27 09.53.gif Size: 14 KB
" Never let the past hold the future to ransom "
  • #1,544
  • Aug 27, 2009 3:04am Aug 27, 2009 3:04am
60M chart
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_03 Aug. 27 10.02.gif Size: 14 KB
" Never let the past hold the future to ransom "
  • #1,545
  • Aug 27, 2009 3:05am Aug 27, 2009 3:05am
http://clip2net.com/clip/m14233/thum...-clip-21kb.png

http://clip2net.com/clip/m14233/thum...-clip-20kb.png

http://clip2net.com/clip/m14233/thum...-clip-19kb.png
  • #1,546
  • Aug 27, 2009 3:17am Aug 27, 2009 3:17am
Quoting xecret
http://clip2net.com/clip/m14233/thum...-clip-21kb.png

http://clip2net.com/clip/m14233/thum...-clip-20kb.png

http://clip2net.com/clip/m14233/thum...-clip-19kb.png

What is the size of your SL?
" Never let the past hold the future to ransom "
  • #1,547
  • Aug 27, 2009 3:19am Aug 27, 2009 3:19am
GJ 42
EU 20
GU 25
  • #1,548
  • Aug 27, 2009 3:23am Aug 27, 2009 3:23am
Quoting xecret
GJ 42
EU 20
GU 25
It is too small for 60H and 240M trading.

So far it has been a lousy start but your GBPJPY trade at least should have been a winner.
" Never let the past hold the future to ransom "
  • #1,549
  • Aug 27, 2009 3:25am Aug 27, 2009 3:25am
60 15 5
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_04 Aug. 27 10.23.gif Size: 20 KB
" Never let the past hold the future to ransom "
  • #1,550
  • Aug 27, 2009 3:28am Aug 27, 2009 3:28am
Quoting Gleneagles
It is too small for 60H and 240M trading.

So far it has been a lousy start but your GBPJPY trade at least should have been a winner.
Apologies, I see now where you took the trade.
" Never let the past hold the future to ransom "
  • #1,551
  • Aug 27, 2009 3:35am Aug 27, 2009 3:35am
Quoting Gleneagles
It is too small for 60H and 240M trading.

So far it has been a lousy start but your GBPJPY trade at least should have been a winner.
I set the SL and TP for the GJ trade and went out, I came back to see it just hit the SL and turned around.
So, Glen, what are the suitable SL's for these pairs for 5-30, 5-15-60 & 5-15-240?
It not a good taste that the SL is just hit and the market immediately turns around and continue on your direction.
  • #1,552
  • Aug 27, 2009 3:40am Aug 27, 2009 3:40am
Quoting Gleneagles
Apologies, I see now where you took the trade.

Signal was at red line on the chart.
60M trend change.

Your entry was a bit late, you managed to pick the consolidation to perfection!

There were a few entries that would have paid as well.
Nothing wrong with your trade, you just got kicked out of a good trade because your stop was too small.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_06 Aug. 27 10.33.gif Size: 25 KB
" Never let the past hold the future to ransom "
  • #1,553
  • Aug 27, 2009 3:45am Aug 27, 2009 3:45am
Quoting xecret
I set the SL and TP for the GJ trade and went out, I came back to see it just hit the SL and turned around.
So, Glen, what are the suitable SL's for these pairs for 5-30, 5-15-60 & 5-15-240?
It not a good taste that the SL is just hit and the market immediately turns around and continue on your direction.
I know, I hate it when it happens.

I have posted some guidelines before.
It depends on your dealer spread as well.

GBPUSD and GBPJPY have big trading ranges.

I personally trade with SL 40 on GBPUSD and SL 50 GBPJPY.
It includes the spread.
" Never let the past hold the future to ransom "
  • #1,554
  • Aug 27, 2009 4:28am Aug 27, 2009 4:28am
Quoting luckylady
I use the attached indicators on mine.
many thanks,
  • #1,555
  • Aug 27, 2009 4:39am Aug 27, 2009 4:39am
These trades are why I choose to keep the sm trix 4 col mtf on my charts.. showing the overextended cycles by color (m15 and m60) would keep you out of these trades. To each their own, but for me I prefer it greatly.

Brian


Quoting xecret
http://clip2net.com/clip/m14233/thum...-clip-21kb.png

http://clip2net.com/clip/m14233/thum...-clip-20kb.png

http://clip2net.com/clip/m14233/thum...-clip-19kb.png
  • #1,556
  • Aug 27, 2009 5:31am Aug 27, 2009 5:31am
Quoting xecret
I set the SL and TP for the GJ trade and went out, I came back to see it just hit the SL and turned around.
So, Glen, what are the suitable SL's for these pairs for 5-30, 5-15-60 & 5-15-240?
It not a good taste that the SL is just hit and the market immediately turns around and continue on your direction.
sorry to see that bud...

I mean you had the right idea and everything but trying to pick the perfect entry point ruined your trade.

Check out the chart below, this trade never went against me by more than 30 pips, my original SL.

Here is my reasoning for entering the trade.
http://www.forexfactory.com/showpost...postcount=1495

Hint: check out Glen's charts for any pair, try to think like Glen
Attached Image (click to enlarge)
Click to Enlarge Name: ej-60pips.gif Size: 21 KB
WANT WHAT THE MARKET WANTS...
  • #1,557
  • Aug 27, 2009 6:42am Aug 27, 2009 6:42am
Thanks for your help.
But my EJ weekly pivot is at 134.48. Is there any problem with the indicator. I just started using the weekly and monthly pivot indicator this week.
  • #1,558
  • Aug 27, 2009 6:56am Aug 27, 2009 6:56am
Quoting Gleneagles
I know, I hate it when it happens.

I have posted some guidelines before.
It depends on your dealer spread as well.

GBPUSD and GBPJPY have big trading ranges.

I personally trade with SL 40 on GBPUSD and SL 50 GBPJPY.
It includes the spread.
Thanks for the info. I will check up the old posts.
  • #1,559
  • Aug 27, 2009 7:01am Aug 27, 2009 7:01am
Quoting xecret
Thanks for your help.
But my EJ weekly pivot is at 134.48. Is there any problem with the indicator. I just started using the weekly and monthly pivot indicator this week.
I think it has to do with broker time, mine is GMT +2

But these things don't matter much in the big picture. You could have gotten in even earlier
WANT WHAT THE MARKET WANTS...
  • #1,560
  • Aug 27, 2009 7:09am Aug 27, 2009 7:09am
Guys wud you say its better to trade from the open of the asian session upto the open of the london session. Especially if you trading the yen pairs.
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