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MTF Trix system

  • #2,081
  • Sep 4, 2009 12:23pm Sep 4, 2009 12:23pm
[quote=pgpb;3025177]Indrek, thanks for your help in finding "update stops" EA
I threw some trades on a demo account to give it a try.
I am delighted with the results.
Although it makes me nervous not to set a stop loss and let an EA handle things. Would it mess up the working of the EA to throw on a disaster stop on there manually?

?? There is a facility in the EA to put a SL in.

Use it at ALL TIMES.
Attached Image
" Never let the past hold the future to ransom "
  • #2,082
  • Sep 4, 2009 12:24pm Sep 4, 2009 12:24pm
Quoting Gleneagles
Gbpusd 25 35 50
gbpjpy 25 35
eurjpy 25 35 50
Once again I do not understand your entries... Could you give a hint how did you pick up the right moments?
  • #2,083
  • Sep 4, 2009 12:38pm Sep 4, 2009 12:38pm
Quoting Indrek
Once again I do not understand your entries... Could you give a hint how did you pick up the right moments?
No special trick.

I waited for 30 5 to roll over in line with the 240M trend, the entries were a few candles late because I wanted to make sure the momentum picks up.
" Never let the past hold the future to ransom "
  • #2,084
  • Sep 4, 2009 12:49pm Sep 4, 2009 12:49pm
Quoting Indrek
So, it was 240 30 5?
Have a look at GBPUSD Daily.
Brand new buy signal as from today.

So on GBPUSD for example.

D1 Long
240M Long
60M Rolling over
30M Long
15M Long
5M Long

You can pick and choose what combination you want to use.

Whatever you do, don`t take a short trade
" Never let the past hold the future to ransom "
  • #2,085
  • Edited 1:52pm Sep 4, 2009 1:30pm | Edited 1:52pm
Quoting Indrek
I still do not understand what are you trying to prove with the "evidence"
Indrek, you think I don't like to trade based on signals???
Problem is, I cannot, when I watch them backwards everything
looks simple and clear.. Every time I place a trade based on them (Signals)
I get screwed. Not sure what it is.. I do agree that by trading you guys sure possibly can make 2x 3x as much Pips.. But what this (Shorting USD)method brings me?
close to 0 loses.. for the last 5 days I got 20 trades and only 1 loss when I
try to Short EURO based on TRIX, which caught me in News time..

Clearly TRIX method easy and it's much better in terms of
capital preservation, cause possibly I can stuck in downside for few days.
Yes, It's possible.. But when it reverses, I will get my profits.. Other problem,
It's only works when perhaps Dollar trading in RANGE and it's been established for long time $1.40-$1.44.. I'm not sure, if I want to average
down on dollar even above $1.43.. I hope I can learn how to trade this TRIX
Got like 5 screens in MT 4 all EURUSD 1 hour, 60-15-5, whatever..
Problem is I was closely watching since I only trade 1 pair, and they all
repainting badly.. I mean when you look what happens 15 min before, it's
all clear, but when trying to figure out front movement?

I hate trading.. Even stocks.. Ones I start day-trading no matter what,
I lose money, period. Nothing to do with the system probably, but it just
how it works for me personally..

Like today I set my buys and TP also, but showed up earlier and check! And what are you think?
Of course I decide, that there is enough profit already and manually close the trades,while
they were hitting my TP in the last 30 min as I set them earlier based on intuition and previous moves..
I just can feel this EU beast.. I've been watching it
for so long even before I've been trading..

Will continue trying.. MTF though while EU doing nothing and out of "MY" attractive range, -see what's up..

Thanks guys.

P.S And for whatever reason my best results are always with EURUSD, Never understand or feel EURJPY
or others, besides, I have 2 pips spread (lowest for EU pair) and others are 4+ pips..

Good luck thanks.. I'll try not post off- topic much.. Many pips for all of you!

BTW.. ETF- "UNG" Natural GAS fund just hit the bottom this morning at $8.90 and rebounding hard now
Nat GAS at 8 years low, proceed with caution, but, check the Chart.. From $60 to $8.90 currently
$9.60- wow.. If you can buy here or lower that's great, I was buying below $12.50 wasn't expecting
Nat GAs futures hitting below $2.50 - that's crazy
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #2,086
  • Sep 4, 2009 1:36pm Sep 4, 2009 1:36pm
Quoting SkyzerFX
Indrek, you think I don't like to trade based on signals???
Problem is, I cannot, when I watch them backwards everything
looks simple and clear.. Every time I place a trade based on them (Signals)
I get screwed. Not sure what it is.. I do agree that by trading you guys sure possibly can make 2x 3x as much Pips.. But what this (Shorting USD)method brings me?
close to...
SkyzerFX,

I hate speak for the others, but I will in this case.

I don't think that anyone is questioning your logic or your approach. It just isn't relevant to this thread.

Perhaps you should visit Jacko's thread. I'm not sure exactly how he is trading now, but for the first three years of his trading he focused exclusively on EURUSD and only took long trades because that is where he thought the long term trend was. If you believe all of the hype, he supposedly made a small fortune trading this way. Which is essentially what you are doing. So no argument with you on that.

It just isn't the topic of this thread. So I, for one, would appreciate you keeping your off-topic comments out of here.

Now if you want to participate and comment on MTF, great. Stick around.

Doc
  • #2,087
  • Edited 3:23pm Sep 4, 2009 3:22pm | Edited 3:23pm
[quote=Gleneagles;3025213]
Quoting pgpb
Indrek, thanks for your help in finding "update stops" EA
I threw some trades on a demo account to give it a try.
I am delighted with the results.
Although it makes me nervous not to set a stop loss and let an EA handle things. Would it mess up the working of the EA to throw on a disaster stop on there manually?

?? There is a facility in the EA to put a SL in.

Use it at ALL TIMES.
thanks Glen for showing me your settings.....I did not realize that you could adjust the percentage of TP 1 2 and 3

This really addresses a fundamental problem in trading.
If you are in profit by X pips there is the urge to take the money off the table. Using this EA deals with that by allowing you to TP and let the rest of the trade be managed by the EA
I know to you guys, using this EA is "old hat" but I am really keen that I have this working. Previously I was opening two small postions and managing them manually
  • #2,088
  • Edited 3:31pm Sep 4, 2009 3:31pm | Edited 3:31pm
Quoting DocPMD
SkyzerFX,



It just isn't the topic of this thread. So I, for one, would appreciate you keeping your off-topic comments out of here.

Now if you want to participate and comment on MTF, great. Stick around.

Doc
SkylerFX Perhaps a happy compromise would be to post about MTF trades, but also share your fundemental opinon.

For example you could say " with the dollar at this level I am only going to be taking long trades on EURUSD, GBPUSD, AUSUSD etc, and then also talk about how you are using MTF for refining your entry.

Indrek is the moderater so he will decide if your participation is on or off topic, but I thought I would suggest a way you could "play" here and not get flamed for being off topic.

It is the age old debate, is fundemental trading or technical trading the best way to go. This thread is 90% technical, but part of the system is to not trade right before "red flag" news, so that is taking fundementals into account.

Just my 2 pips worth of opinion
  • #2,089
  • Sep 4, 2009 3:43pm Sep 4, 2009 3:43pm
Quoting pgpb

Indrek is the moderater so he will decide if your participation is on or off topic, but I thought I would suggest a way you could "play" here and not get flamed for being off topic.
No harm done so far But, of course, I suggest that we try to focus on our system and I certainly try to keep it this way.
No members banned from this thread besides Keith Brown. Hope, he will stick to the Nitro thread under his present alias. And hopefully his business partners will do the same
  • #2,090
  • Sep 4, 2009 4:09pm Sep 4, 2009 4:09pm
this is one of Glen's rules (is daily range > 80% of range)
(if yes, no trade)

How do we know this?
Is there an indicator for this?

thx

PGPB
  • #2,091
  • Edited 5:58am Sep 5, 2009 1:35am | Edited 5:58am
Quoting pgpb
this is one of Glen's rules (is daily range > 80% of range)
(if yes, no trade)

How do we know this?
Is there an indicator for this?

thx

PGPB
I have xADR_0.2 on my chart for the purpose. It was also coded and posted in this thread.
Earlier I posted Average_Daily_Range indicator.
Daily ATR can also be used. Keep an eye on the length of present daily candle and do the simple calculation by heart.
  • #2,092
  • Sep 5, 2009 7:50am Sep 5, 2009 7:50am
Quoting Indrek
I have xADR_0.2 on my chart for the purpose. It was also coded and posted in this thread.
Earlier I posted Average_Daily_Range indicator.
Daily ATR can also be used. Keep an eye on the length of present daily candle and do the simple calculation by heart.

Hi Indrek

Thanks......so on this xADR indicator it shows two numbers

For instance it will say ATR5 = 7 and ATR25 = 5 and currently this is green

I have, until now been using this indicator this way. If the first number was larger than the second number it is OK to trade

What do those two numbers actually mean?
I will googe this after I post and if I figure it out myself I will delete this
  • #2,093
  • Edited 8:51am Sep 5, 2009 8:09am | Edited 8:51am
Quoting pgpb

What do those two numbers actually mean?
ATR(5) = average range of last 5 candles
ATR(25) = average range of last 25 candles

Please note that xADR indicator shows much more than only these two ATRs. It shows also ADR (average daily range), today's range and yesterday's range and it is set by default to show (with red and green colour) if the 80 % level has been broken.
  • #2,094
  • Sep 5, 2009 10:00am Sep 5, 2009 10:00am
Hi there,

I'm glad to see that you found a positive system of trading, making a lot of pips. I'm really impressed. I myself can not share so much positive charts ... but perhaps it's possible to post my "catastrophes" of trading so that the ones who can do better than I could analyse my mistakes. May be some other members could even be interested to learn from these unsuccessful trades.

Attached Image (click to enlarge)
Click to Enlarge Name: 2009-09-04 post 1-1.gif Size: 32 KB


Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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I’m (nearly) sure I took the wrong moment to enter … I decided to trade M30 / M5 and I suppose that my SL (15 pip) is too narrow.

What else did I wrong?


Waiting for enlighten my brain-bulb
Attached Image
I hope you don’t mind.


If there are pips you can collect - just do it!
  • #2,095
  • Sep 5, 2009 10:21am Sep 5, 2009 10:21am
Quoting studbiol
Hi there,

I'm glad to see that you found a positive system of trading, making a lot of pips. I'm really impressed. I myself can not share so much positive charts ... but perhaps it's possible to post my "catastrophes" of trading so that the ones who can do better than I could analyse my mistakes. May be some other members could even be interested to learn from these unsuccessful trades.

Attachment

Attachment ...
Sorry about your results but as i can see all your trades was winners.

1. your stop loss too close.

2.you are trading way too close to the red flag news.(NFP)..Nothing to feel alarm about you just need to make some small ajustment and you will be fine..better luck next time.
  • #2,096
  • Sep 5, 2009 10:23am Sep 5, 2009 10:23am
Quoting studbiol
Hi there,

I'm glad to see that you found a positive system of trading, making a lot of pips. I'm really impressed. I myself can not share so much positive charts ... but perhaps it's possible to post my "catastrophes" of trading so that the ones who can do better than I could analyse my mistakes. May be some other members could even be interested to learn from these unsuccessful trades.

Attachment

Attachment ...
First one was clearly a wrong entry as there was no fresh signal. The trend was mature already.
The other two were winners, just your SL was too tight as you already mentioned.
I would never use a 15-pip SL for any pair... I have used lately 36 pip for GU and 28 for EU. I am not sure about USDCHF as I never trade it; sth like 20, I guess.
I calculate my SL in a bit weird way - SL = 4 x ATR(1440) of M5.

What else I notice on your chart - you have two current Trixes and two M30 Trixes on your chart And why do you need those MAs?
  • #2,097
  • Sep 5, 2009 10:46am Sep 5, 2009 10:46am
Quoting stunna29
Sorry about your results but as i can see all your trades was winners.

1. your stop loss too close.

2.you are trading way too close to the red flag news.(NFP)..Nothing to feel alarm about you just need to make some small ajustment and you will be fine..better luck next time.
Thanks stunna, I must find a better way to set good and useful SL ... there seems to be a problem with FEAR! Next thing: NEWS! Yes, my fault, I ignored them ... should not happen again.


Food for thoughts --- have a nice weekend

Quoting Indrek
First one was clearly a wrong entry as there was no fresh signal. The trend was mature already.
The other two were winners, just your SL was too tight as you already mentioned.
I would never use a 15-pip SL for any pair... I have used lately 36 pip for GU and 28 for EU. I am not sure about USDCHF as I never trade it; sth like 20, I guess.
I calculate my SL in a bit weird way - SL = 4 x ATR(1440) of M5.

What else I notice on your chart - you have two current Trixes and two M30 Trixes on your chart And why do you need those MAs?
Thanks Indrek for the needed input. The first trade was no fresh signal ... please can you tell me when the signal would have been fresh?
The idea with SL ... seems to be really a big problem of mine. Perhaps I should use UpdateStopsEA like Glen posted some posts before. This idea wit ATR(1440) ... I will have a look on it.
I love to see the TRIX M30 the old-fashioned way ... you know: Elder people and new ideas!
The Ma's are a relict too. You're right - the could be deleted ... I'm have to consider: I'm a little lazy when cleaning charts.
If there are pips you can collect - just do it!
  • #2,098
  • Sep 5, 2009 11:05am Sep 5, 2009 11:05am
[quote=Indrek;3026441I calculate my SL in a bit weird way - SL = 4 x ATR(1440) of M5.
And why do you need those MAs?[/quote]

Did a little homework ... as far as I'm able to. Seems to be a good idea to show SL as this indi does on my chart. If someone is interessted - here it is:

Attached File(s)
File Type: ex4 THV3 ATR Pips.ex4   4 KB | 609 downloads


If there are pips you can collect - just do it!
  • #2,099
  • Sep 5, 2009 11:09am Sep 5, 2009 11:09am
Quoting studbiol
Did a little homework ... as far as I'm able to. Seems to be a good idea to show SL as this indi does on my chart. If someone is interessted - here it is:

Attachment

Attached Image (click to enlarge)
Click to Enlarge Name: 2009-09-04 post 1-3.gif Size: 31 KB


Sorry, posted a litte too quick. Here is the chart I'm talking about.

Have a nice weekend.

If there are pips you can collect - just do it!
  • #2,100
  • Sep 5, 2009 11:43am Sep 5, 2009 11:43am
Quoting studbiol
Attachment

Sorry, posted a litte too quick. Here is the chart I'm talking about.

Have a nice weekend.

Please note that I have no proof that ATR(1440) works this way. I just like to play with numbers: 5 x 24 hours = 120 hours = 7200 minutes = 1440 x 5 minutes
You should use whatever you like but not 15 pips for SL.
If you really use ATR(1440) or anything like this then you do not have it on your chart. This number does not change for long periods Enough to calculate it once and then you just know it.
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