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MTF Trix system

  • #2,161
  • Sep 7, 2009 3:22pm Sep 7, 2009 3:22pm
Sneak preview of THREE BLOCK TRADING system.

I know it is tough lining up trade signals on 3 different TF`s...and trade them.

It is even tougher when you don`t have a manual to assist you.
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" Never let the past hold the future to ransom "
  • #2,162
  • Sep 7, 2009 3:23pm Sep 7, 2009 3:23pm
Quoting walb99
Three Blocks = TRIX ??
Think about it a little - Glen is explaining the initial MTF Trix system in a different way...
  • #2,163
  • Sep 7, 2009 3:31pm Sep 7, 2009 3:31pm
ONE BLOCK TRADING SYSTEM to practice on if you struggle with 2 and 3 block system.

Trix settings 3 1 1 1 MTF 5M


EDIT: I left out the blue and red lines on purpose, it is a self test
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" Never let the past hold the future to ransom "
  • #2,164
  • Sep 7, 2009 3:35pm Sep 7, 2009 3:35pm
Quoting DocPMD
I agree doesn't seem like many are actually trading the method.

I can tell you that I have been dedicated to it for the last three weeks or so, and plan on another couple of weeks on demo before I will feel comfortable trading live.

But so far I have been successful at it. The only thing that I can offer to any new people is that it is not a strictly mechanical system. Personally, I pay a lot of attention to S/R levels.

Not trading today as it is a US holiday. But will be back at it tonight.

Doc
I trade this system everyday, but I don't always post my charts. Sometimes posters here can get a frosty reception, which is a real shame.
How do you make a small fortune in Forex? Start with a large one!
  • #2,165
  • Sep 7, 2009 3:39pm Sep 7, 2009 3:39pm
Quoting paidperpip
I trade this system everyday, but I don't always post my charts. Sometimes posters here can get a frosty reception, which is a real shame.
What I suggest for "warmer" reception - if you post a chart then add some comment or question from yourself at once. I have noticed that I sometimes - when trading or doing sth else actively - do not go very deep into the posts that contain just a chart. But if there is some good idea or relevant question added then I start looking more carefully.
The main aim of posting charts should be starting some discussion not just showing colourful pictures
  • #2,166
  • Sep 7, 2009 3:47pm Sep 7, 2009 3:47pm
Dear pgpb and larthi,
http://www.forexfactory.com/images/icons/icon7.gif
Thank you so much for your understanding! Although I am a beginner and doing demo trading, I am really serious of learning FX. I am very shy person, in other words, I try almost everything (in my capacity) before actually posting any questions. Thus, when I post simingly basic (and/or silly) questions, those questions may be common for many, I think. I did not expect your kind reactions, such as providing manuals for beginners (mannual for MTF Trix dummies ???). The manual will be most helpful for person like me. I belong to the generation to see hard copies so continously print your valuable comments and graphs. In fact, I am a visual and analytic learner. I realy like the encounraging atmosphere of this thread, inlcluding, Indrek and glen. You cannot imagine how much you have helped many rookie traders.

Thank you for your prompt replies and I am looking forward to seeing the "MANUAL."
  • #2,167
  • Sep 7, 2009 3:48pm Sep 7, 2009 3:48pm
Quoting paidperpip
I trade this system everyday, but I don't always post my charts. Sometimes posters here can get a frosty reception, which is a real shame.
I look at ALL the trades and ALL the charts posted. If people post trades and charts at least others can hopefully learn something. Sharing your trading experience is what this thread is all about.
If nobody posts anything, I take it that there is no interest in trading this system, no problem, it is a choice every trader must exercise. There is a huge choice of trading systems on FF to chose from and it is important that you trade something that works for you and that you feel comfortable with.

Hopefully this system works for you.
" Never let the past hold the future to ransom "
  • #2,168
  • Sep 7, 2009 3:55pm Sep 7, 2009 3:55pm
Gleneagles, I've been guilty of not posting, so I'll start doing that more often. I think I've found that using the 15 and 240 together is more to my liking and also lifestyle. I don't even have the 5 minute on my charts any more. Less chart watching and slower pace and possibly even better trades than having the 5 minute included? Probably a lot of people like me that are just looking and reading. Your posts are well read by me, as well as Indreks and a few others.
Quoting Gleneagles
I look at ALL the trades and ALL the charts posted. If people post trades and charts at least others can hopefully learn something. Sharing your trading experience is what this thread is all about.
If nobody posts anything, I take it that there is no interest in trading this system, no problem, it is a choice every trader must exercise. There is a huge choice of trading systems on FF to chose from and it is important that you trade something that works for you and that you feel comfortable with.

Hopefully this system works for you.
  • #2,169
  • Sep 7, 2009 3:59pm Sep 7, 2009 3:59pm
Quoting Indrek
What I suggest for "warmer" reception - if you post a chart then add some comment or question from yourself at once. I have noticed that I sometimes - when trading or doing sth else actively - do not go very deep into the posts that contain just a chart. But if there is some good idea or relevant question added then I start looking more carefully.
Thank you once again for your advice Indrek. I prefer to not ask questions if I can avoid it, or I ask them privately in PM's to members willing to extend the effort to assist me. Or else, I try to re-read the posts that I couldn't gleam the information from in the first place, as has been your instructions time and time again.

I am not complaining about this wonderful system, or the selfless work done by GLEN in promoting and teaching same, just observing the fact that if one person writes a question in a post, there is likely to be dozens more who have the same question.

Why do they have that question? Why did they not understand it the first time it was posted? Why do they struggle to understand?

I have had thank yous from other posters, just because I took the time to spell something 'really simple' out for them on the forum. Perhaps Indrek, for you or I, something is 'really simple' because we ourselves went from that place of not knowing, through learning to mastery of it. I am sure most traders will kick themselves at the simplicity of this system, once they master it. I would have thought that one of the roles of a teaching thread such as this would be to assist in this process. Maybe not everyone has the same level of patience...

Unfortunately, my 'warmth' does not come from the thread per se. It comes from the knowledge that I have been able to learn (with help graciously received from other members in PMs, and those that have posted questions on the thread - a most crucial part in the learning process) a simple and effective trading system. My 'warmth' comes from knowing that the system works, and this gives a totally different outlook on how my future, and the futures of those around me will unfold.

Once again, I thank you GLEN for your assistance and patience. Everything is easy, once it is understood. It is getting to that point of understanding that seems the goal of a teaching thread. I take my hat off to you sir!
How do you make a small fortune in Forex? Start with a large one!
  • #2,170
  • Sep 7, 2009 4:08pm Sep 7, 2009 4:08pm
OK , tomorrow we will trade either TWO or THREE BLOCK MAGIC SYSTEM.

TWO BLOCK 30 5 MTF Trix settings 3 1 1 1
THREE BLOCK 60 15 5 MTF Trix settings 3 1 1 1

I have compared it with the previous system that we traded and it produces almost the same results.
This system is a lot easier to trade and we don`t even need to have a manual for this.

Just line up the blocks like the charts I posted, look left...or west.. at the candle before the line and find new high/low before you take the trade.
" Never let the past hold the future to ransom "
  • #2,171
  • Sep 7, 2009 4:12pm Sep 7, 2009 4:12pm
Quoting paradoxical
Gleneagles, I've been guilty of not posting, so I'll start doing that more often. I think I've found that using the 15 and 240 together is more to my liking and also lifestyle. I don't even have the 5 minute on my charts any more. Less chart watching and slower pace and possibly even better trades than having the 5 minute included? Probably a lot of people like me that are just looking and reading. Your posts are well read by me, as well as Indreks and a few others.
Please feel free to post your 240M trades. I trade it as well but because most traders trade intraday, I post mainly TWO and THREE block trades and charts.
If you use 240M in your TWO block trades, just mention it in your post.
" Never let the past hold the future to ransom "
  • #2,172
  • Sep 7, 2009 4:26pm Sep 7, 2009 4:26pm
Quoting Gleneagles
I look at ALL the trades and ALL the charts posted. If people post trades and charts at least others can hopefully learn something. Sharing your trading experience is what this thread is all about.
If nobody posts anything, I take it that there is no interest in trading this system, no problem, it is a choice every trader must exercise. There is a huge choice of trading systems on FF to chose from and it is important that you trade something that works for you and that you feel comfortable with.

Hopefully this system works for you.
Sir, this system works superbly well for me! By and large, when I put a trade on, and am suffering a retracement, I have such confidence that it will turn again, and go into profit, and due to the logic of you setup. And guess what? It generally does!

Before you came along, I was so bad at trading, the second I put a long trade on, it would turn short! I even started trading the opposite of what my technical analysis said I should trade, and I was winning more! That is scary! lol

That's why I suggest that if I can trade this, than anyone can trade this!

Glen, I hang on every word you say. I try to understand every single suggestion you offer. Currently, my charts fall into two main categories... firstly there are the winners. Secondly, there are the ones where I did not follow the instructions correctly. Thankfully, the latter are a smaller (and decreasing) number.

So, please don't take it as inattention to the method if I do not post a chart here. More often then not, if I am not posting a chart, it is because I am going back through your posts to ensure that I am on the same page as you. I am grateful for all of your assistance, and I am buoyed at the thought that you keep a watchful eye over the charts that are posted.

Glen, I am sure that I am not alone in my appreciation for you. What you have done has changed lives. You have opened potentials to countless individuals who you will likely never meet. You have effected countless future generations of people, who's lives will be all the better for YOUR presence on planet earth. I do not say this as a hollow platitude, it is true.

Thank you.

And for what it is worth, I will be making a real effort to post charts from the second category from now on. As you say, it is how we learn.
How do you make a small fortune in Forex? Start with a large one!
  • #2,173
  • Sep 7, 2009 4:33pm Sep 7, 2009 4:33pm
Quoting paidperpip
Sir, this system works superbly well for me!...
Your kind words are appreciated!
I can only point people in the " right" direction, it is then up to them to take the ball and run with it.
" Never let the past hold the future to ransom "
  • #2,174
  • Sep 7, 2009 4:39pm Sep 7, 2009 4:39pm
Quoting Gleneagles
OK , tomorrow we will trade either TWO or THREE BLOCK MAGIC SYSTEM.

TWO BLOCK 30 5 MTF Trix settings 3 1 1 1
THREE BLOCK 60 15 5 MTF Trix settings 3 1 1 1

I have compared it with the previous system that we traded and it produces almost the same results.
This system is a lot easier to trade and we don`t even need to have a manual for this.

Just line up the blocks like the charts I posted, look left...or west.. at the candle before the line and find new high/low before you take the trade.
I will join you during NY session, I hope.
The way how Glen put the system in his today's posts is really brilliant and I am absolutely sure that no more explanations are needed for trading the system.
And it is a very good (and to my mind only possible) approach that anyone at least tries to FIGURE OUT how to trade the system on the basis of the entry rules and other information provided by Glen.
So, finally everybody will have his/her own manual that suits his/her style and needs for 110 %
Good night and good luck with your trades!
  • #2,175
  • Sep 7, 2009 5:04pm Sep 7, 2009 5:04pm
I nominate "Trading for Blockheads" as the term to be used for this. A spin on all the books using the words Carpentry for Dummies, Computers for Dummies, Trading for Dummies".
Two blocks the same, take the trade.
Three blocks the same, take the trade.
End of "Trading for Blockheads" lesson.
  • #2,176
  • Edited 6:30pm Sep 7, 2009 6:20pm | Edited 6:30pm
I didn't trade the UK session at all. It was just far too messy, as can be seen by not only the PA, but also by the fact that the Trix's were all over the shop. Bank holiday. Knowing when NOT to trade is a bit of a coup for me, and made all the more simple by seeing if there are clear signals happening in the Trix.

I also do some 'Bucket Trading' during the Asian session. Whilst my shorts were fine and hit TP, they had a real struggle climbing up the other side yesterday, a sign perhaps of the ugliness seen during the UK session...

However between UK and US sessions, the PA seemed to settle into a reasonable pattern, so I started looking for setups again.

My first trade was taken on EJ, as it was showing stable longs on the M30 and the M60 had also just turned. Correlation between it and GJ saw me take a short entry on GJ as well, again, with M60 backup, once both trades had given a positive signal on the M5, plus 2 pips.

Watching the correlation between the above two pairs and GU, I also got into a short there as well, although this was before the M60 signaled red, or even closed in that direction. It was a little cheeky, but, the EUR seemed to be the only pair that wasn't following the convention of correlation last night, so I took a value judgement and jumped in.

TP's were much shorter last night, given the lack of volatility in the market. TP1 was set at 15 pips, and TP2 at 20 & 25. The other exits you see are when I decided it was time for bed. Had I given it a little longer, they all would have gotten to TP2, proving that the logic of the system works.

Concerns from last night's trades:

GU - bought right on top of the daily pivot. It got through eventually, but it did struggle for a few candles. This struggle seemed to be the cause for the 'blip' on the other two charts when I called it quits for the night. Additionally, EJ got a strong bounce off a big number around TP1. I was mindful of that at the time of putting the trade on, and ensured that at least TP1 could be reached.

All in all, I am content with the efforts. I sat out the nasty stuff in UK session (discretion is the greater part of valor), waited to see signs of clarity in the market, and then took the signals provided by the Trix and correlation to enter correctly.

Can anyone offer any feedback?

Thanks.

Russ

I apologise for the length of this post, I will be shorter in future. Just wanted to show my reasoning...
How do you make a small fortune in Forex? Start with a large one!
  • #2,177
  • Sep 7, 2009 6:23pm Sep 7, 2009 6:23pm
Quoting paidperpip

Can anyone offer any feedback?
I will have to find a way to make the charts take up less room too, like Glen does...
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How do you make a small fortune in Forex? Start with a large one!
  • #2,178
  • Sep 7, 2009 8:03pm Sep 7, 2009 8:03pm
Quoting DocPMD
I agree doesn't seem like many are actually trading the method.

I can tell you that I have been dedicated to it for the last three weeks or so, and plan on another couple of weeks on demo before I will feel comfortable trading live.

But so far I have been successful at it. The only thing that I can offer to any new people is that it is not a strictly mechanical system. Personally, I pay a lot of attention to S/R levels.

Not trading today as it is a US holiday. But will be back at it tonight....
I see an increasing number of traders trading this system which is great.
Many choose not to post regularly for many different reasons.
What I have picked up so far...
1. Frosty reception
2. By Pm's sent to me.... Not clearenough explanations
3. Fear of being told off in a sacastic way if new filters they use are added
4. Insensitivity of responses.
5. Busy
6. I dont post charts myself..... I do not follow the exit rules.
7. etc etc.


I have mentioned personally, I agree with you ....S&R is very important with this or any other system.

The other is divergence awareness with any system. Place the trix indicator on the chart and see for oneself.

Not all traders are newbies, learn what others are saying and do not dismiss these hints because one cannot see the immediate use of these tools.

MY reply here is a general posting nothing to you personally. Just some points you mentioned which I took opportunity to elaborate on.

I strongly suggest to all to be more sensitive to others postings and questions .
  • #2,179
  • Sep 7, 2009 8:52pm Sep 7, 2009 8:52pm
After the C4 thread fiasco, I stepped back to take a long look at how I was trading and why, and I stopped trading. Let's just say scalp trading doesn't suit me. Particularly if it calls for winning 3 to 5 more times than one loss. I have to say that Gleneagles is one of the most patient and informative trader I've seen, and spends a lot of his time on here helping people when he could be doing other things. I sense that he gets satisfaction simply over knowing he's helped other people, with no ego involved. IMHO, this thread is the best, and will be the most profitable on FF. In due time, others that are frequenting certain threads I won't mention will climb on board. I've seen some of them peeking in.
Quoting lrathi
I see an increasing number of traders trading this system which is great.
Many choose not to post regularly for many different reasons.
What I have picked up so far...
1. Frosty reception
2. By Pm's sent to me.... Not clearenough explanations
3. Fear of being told off in a sacastic way if new filters they use are added
4. Insensitivity of responses.
5. Busy
6. I dont post charts myself..... I do not follow the exit rules.
7. etc etc.


I have mentioned personally, I agree with you ....S&R is very important with this or any other system.

The...
  • #2,180
  • Edited 10:41pm Sep 7, 2009 9:06pm | Edited 10:41pm
Quoting paradoxical
After the C4 thread fiasco, I stepped back to take a long look at how I was trading and why, and I stopped trading. Let's just say scalp trading doesn't suit me. Particularly if it calls for winning 3 to 5 more times than one loss. I have to say that Gleneagles is one of the most patient and informative trader I've seen, and spends a lot of his time on here helping people when he could be doing other things. I sense that he gets satisfaction simply over knowing he's helped other people, with no ego involved. IMHO, this thread is the best, and will...
I could not agree more with your post paradoxical.

Gleneagles is a God Send to all traders...newbies.intermediate and advanced traders...all alike. I have personally thanked him several times for his effort and time spent.

This system is simple,effective and profitable. FULL AGREEMENT!

However, there is an element of low tolerance by some posters which is what I mentioned is why some traders are still reluctant to post here.

I feel for those traders who have experienced such and call for all members to be more sensitive to all posters questions however basic and simple their questions and as many times they ask.... they repeat their question not for pleasure or annoyance but because they have some unanswered query.

During my Uni days...I had some lecturers/teachers who could explain concepts very easily...others I preferred to take the reference only and go and read it up. Some concepts my brain needed to read the same concept from two or even three different authors for my brain to comprehend the concept.

Same thing here.... Some traders find one way to explain something fine...others maynot.... this is ok. Let the trader ask 10 times in different ways..... that trader should be encouraged...... Unfortunately.....there has been low tolerence to such a trader here. Others read this and feel inhibited to ask in the future with their question in fear of an unwelcome/sacastic response.

I will do my best here to fill in gaps when I sense there is a need to...
There is a need which I see... I will do my best...sometimes...time is an issue with me .

Kind regards to all.
LRATHI
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