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MTF Trix system

  • #1,981
  • Sep 3, 2009 4:36am Sep 3, 2009 4:36am
Quoting DocPMD
Long EURJPY (re-entry)

Entry 132.10
Stop 132.85
TP#1 132.35

Risk 2%
Profit 2%

That's it for tonight - two winners in a row +3.3%. I'm not greedy. See everyone tomorrow.
Nice one
" Never let the past hold the future to ransom "
  • #1,982
  • Sep 3, 2009 4:51am Sep 3, 2009 4:51am
2 trades
AUSUSD end of term card says "he could do better...."
EURJPY pretty much same as Doc's

Glen,
it is that old chestnut ............do you stick to your stop loss come what may, or do you use discretion and sometimes cut it short, which is what I did on AUDUSD?
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  • #1,983
  • Sep 3, 2009 5:01am Sep 3, 2009 5:01am
Quoting Royston
2 trades
AUSUSD end of term card says "he could do better...."
EURJPY pretty much same as Doc's

Glen,
it is that old chestnut ............do you stick to your stop loss come what may, or do you use discretion and sometimes cut it short, which is what I did on AUDUSD?
Roy,

Nothing wrong cutting a trade short if it is not delivering. No need to tie up trading $ in non-performing trades. I dropped AUDUSD from my list because it can be quite slow and indecisive at times. It is a personal choice because it can be smooth and consistent at times.
" Never let the past hold the future to ransom "
  • #1,984
  • Sep 3, 2009 5:26am Sep 3, 2009 5:26am
Quoting Royston
2 trades
AUSUSD end of term card says "he could do better...."
EURJPY pretty much same as Doc's

Glen,
it is that old chestnut ............do you stick to your stop loss come what may, or do you use discretion and sometimes cut it short, which is what I did on AUDUSD?
Hi Royston,
My thoughts.
I agree that there is nothing wrong in closing before it hits your stop, if you have good evidence that invalidates your original decision to enter.
However, I think ( I did not see/enter those trades - so can't be certain).
I would likely have held onto the first:-
1. Not that many candles had passed.
2. That 10 pip pinbar (even though it is in traffic') would give me confidence to hold unless/until it was broken.

I may well have not entered the second trade - nervous about the Daily r1 (on my chart at 8395).
If I had entered it, a relatively small (6.8 pip) bearish engulfing, would not have changed my mind.

BUt then I sometimes(often?) hang on to trades for too long.

Hope this helps,
Ian
  • #1,985
  • Sep 3, 2009 6:07am Sep 3, 2009 6:07am
Here is one more trade from this morning. Also entry at the break of M15 candle and very conservative SL/TS tactics.
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  • #1,986
  • Sep 3, 2009 6:11am Sep 3, 2009 6:11am
thank you Glen and Ian for the replies. There is no learning without feedback, so I am grateful for your thoughts. I think there was a small EU news release on that AU bar, which had the effect of making all USD pairs take a little wobble. There was an element of a "hot tin cat on a roof" about it, lol. Waiting now until after ECB Press Conference.
  • #1,987
  • Sep 3, 2009 6:25am Sep 3, 2009 6:25am
Looking at a chart now of AUDUSD with the sheer brilliance of hindsight.

1) Entry on red line on left of the chart 06H00 GMT ( also 60 15 5 signal)
2) Entry above Weekly Pivot approximately 8370.
3) TP1 20 pips
4) R1 and big number today at 8400 ( bounce almost guaranteed)
5) No reentries until price breaks above 8400?
6) Settle for TP1 if you managed to catch the early entry?
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" Never let the past hold the future to ransom "
  • #1,988
  • Sep 3, 2009 6:50am Sep 3, 2009 6:50am
I hope that everybody is enjoying this wonderful trading day

This trade was again taken at the break of M15 signal candle.
Glen, is it so that this is one of the very best entry types? Worked 4 times in a row (I have one position open yet with 1st profit taken).
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  • #1,989
  • Sep 3, 2009 7:01am Sep 3, 2009 7:01am
Quoting Indrek
I hope that everybody is enjoying this wonderful trading day

This trade was again taken at the break of M15 signal candle.
Glen, is it so that this is one of the very best entry types? Worked 4 times in a row (I have one position open yet with 1st profit taken).
Different indicator readings... there's no signal on my chart.

http://clip2net.com/clip/m14233/thum...-clip-12kb.png
  • #1,990
  • Sep 3, 2009 7:07am Sep 3, 2009 7:07am
Quoting xecret
Different indicator readings... there's no signal on my chart.
Too strange because the arrows on main chart are in the same places... Any idea why is that?
  • #1,991
  • Sep 3, 2009 7:10am Sep 3, 2009 7:10am
Quoting Indrek
Too strange because the arrows on main chart are in the same places... Any idea why is that?
See that - Swingman's MTF Trix also shows the signal (confirmation on M15).
So do I have the signal at the same place on M15 chart.
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  • #1,992
  • Sep 3, 2009 7:13am Sep 3, 2009 7:13am
Quoting Indrek
Too strange because the arrows on main chart are in the same places... Any idea why is that?
I think it is because of different data feed leading to mine is slightly above zero and yours slightly below zero.


http://clip2net.com/clip/m14233/thum...-clip-17kb.png
  • #1,993
  • Sep 3, 2009 7:18am Sep 3, 2009 7:18am
Quoting xecret
I think it is because of different data feed leading to mine is slightly above zero and yours slightly below zero.
In this case I liked my version very much Nice pips gained

I addressed you via PM about my uploading problem.
  • #1,994
  • Sep 3, 2009 7:24am Sep 3, 2009 7:24am
Quoting Indrek
In this case I liked my version very much Nice pips gained

I addressed you via PM about my uploading problem.
Your version of data, not the indy
gonna check the PM.
  • #1,995
  • Sep 3, 2009 7:27am Sep 3, 2009 7:27am
Quoting xecret
Your version of data, not the indy
Yes, my br*ker's datafeed is the best
  • #1,996
  • Sep 3, 2009 8:07am Sep 3, 2009 8:07am
Well, AUDUSD just turned against me, that is ok, but my EURJPY trade was a perfect example of stupidity. Decided not to enter at the break of signal candle's high but to wait until the break of daily high...
Luckily, I made another mistake besides that... Forgot to adjust the EA settings, so the SL was smaller than it should be for EURJPY

No more trades today, I just keep my 103 pips
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  • #1,997
  • Sep 3, 2009 8:24am Sep 3, 2009 8:24am
How do you count pips, Indrek? or, for people in general, what is the general convention?

Is on AUDUSD 14+1 = 15 pips ? or is it 15/2 =7.5 pips, assuming 50% size on each half? Was the risk on EJ -23 pips or was it -46 pips? I am never quite sure what it means when people give a score in pips......
  • #1,998
  • Sep 3, 2009 8:28am Sep 3, 2009 8:28am
Indrek, I am new to this thread and I have read it all but I can't find any reference to the indicator you have on a chart in your posting #4. The upper right corner shows a multi colored bar with the label CAN at the beginning. Could you post the indicator please? Thanks Bill
  • #1,999
  • Edited 11:33am Sep 3, 2009 8:43am | Edited 11:33am
Quoting Royston
How do you count pips, Indrek? or, for people in general, what is the general convention?

Is on AUDUSD 14+1 = 15 pips ? or is it 15/2 =7.5 pips, assuming 50% size on each half? Was the risk on EJ -23 pips or was it -46 pips? I am never quite sure what it means when people give a score in pips......
Yes, I agree that the aim is to earn dollars not pips But I have not seen anybody speaking much about how much money they earn in FF. So, I also speak about pips not cash, although number of pips is not relevant for the final result.
When I say that my trade made 13+23 or whatever then my intention is to show what was my MM principle for the trade. If the real result is 36 or 18 is a matter of taste, I think. In my case - I started to trade twice bigger lots with this system. Risk is reduced by setting SL to BE after first profit has been taken.
The EURJPY trade that I showed had a risk of 46 pips in total and the TP was set at 20+40=60. But usually I set SL at 40 for EURJPY, so the RRR would be 60:80.
  • #2,000
  • Edited 8:46am Sep 3, 2009 8:44am | Edited 8:46am
Quoting Royston
How do you count pips, Indrek? or, for people in general, what is the general convention?

Is on AUDUSD 14+1 = 15 pips ? or is it 15/2 =7.5 pips, assuming 50% size on each half? Was the risk on EJ -23 pips or was it -46 pips? I am never quite sure what it means when people give a score in pips......
Hi,
Unfortunately there is no general convention on counting pips.
There are 3 ways that people may do it (plus some variations):

1. Entry price to exit price (each separate exit price if scaling out).

2. Sum of all entry to exit prices for a trade , divided by the number of TPs (assuming the scaling out was done in equal portions).

3. Entey price to exit price multiplied by position size ( number of lots or minilots or usualy entry size etc.)

All very complicated and open to braggarts inflating their results.

There are also 2 better ways of showing results:

1. % change in account.

2. Number of times the Risk incurred.

Personally I find % change in account the most useful, except when the person is in a competition or trading a demo account - then the Number of times the Risk incurred is the best.

Ian
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