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MTF Trix system

  • #2,201
  • Sep 8, 2009 2:32am Sep 8, 2009 2:32am
I've take the first trade as well but little before you at .6364 cause good momentum.Took 30 pips stop and heat before .6395 target.
Prefer not to use scale just take target close stop loss cause W/L ratio.

Glen in my opinion all this time will all focused on entry first and then exit.
Isn't time to focus a litlle on exits? I say that this example is a good sample of false break of pivot . Notice also that my graph look little different than your cause data different. My pivot is at . 6372 and R .6412 and yours .6367 and R .6406. That extra +5 and + 6 is sometimes the target hit and breakeven in your way of scaling profits. Just a notice only.

Thanks
John
  • #2,202
  • Sep 8, 2009 3:07am Sep 8, 2009 3:07am
Long EURJPY 30 5

Entry 133.18
Stop 132.93
TP#1 133.35
TP#2 133.49

Risk 2%
Profit 1%

Entered this trade when the 30 min bar broke the highs of the previous two bars. It immediately went south and sat right on top of my stop level for about 20 min. i didn't panic, and then it ran up to my first TP level pretty quickly. For some reason, when the order triggered, my platform crashed and I did not have a chance to get my stop on the remaining part of the position to BE.

By the time I got back up and running the remaining part of the position was in the red. I waited a little until it came back close to BE and closed the trade.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: EJ090908b.jpg Size: 74 KB
  • #2,203
  • Sep 8, 2009 3:39am Sep 8, 2009 3:39am
Quoting Epsilo
I've take the first trade as well but little...
John,

I have managed a lot of near " perfect " entries a lot of times during trading but never " perfect " exits.
Trades do not come pre-packaged in Small, Medium, Large and Extra-Large.
I don`t have a solution in terms of a perfect exit strategy.

I am trailing the PA on GBP with last 25% today using a TS of 30 pips.
It works OK today but what if the trade only went to +31 pips and retraced?

I can tailor make a perfect exit quite easily for each trade if I know before the time how far it will go.

Until I find the solution, I live with a compromise i.e. scaling out.
" Never let the past hold the future to ransom "
  • #2,204
  • Sep 8, 2009 4:10am Sep 8, 2009 4:10am
Quoting lrathi
From my prespective..... I will write my own version and understanding of all the information presented here for this great system and post here in the next few days.

A manual will help myself bring all my thoughts together in one place and if it helps others I am happy to share.
Irathi,

If you have the time and energy to put together a concise manual....please go ahead.
I personally feel the system is so simple that people would like it to be more complicated.
If there is still a need however for a "manual" , I can`t explain it any easier than looking for 2 or 3 blocks of the same color to line up.

With regards to " general forex principles and common sense " , you have to make an effort on your own as well. Experience cannot be learned from reading a manual.

Let me know if you need any assistance.
" Never let the past hold the future to ransom "
  • #2,205
  • Sep 8, 2009 4:32am Sep 8, 2009 4:32am
Quoting Gleneagles
Irathi,

If you have the time and energy to put together a concise manual....please go ahead.
I personally feel the system is so simple that people would like it to be more complicated.
If there is still a need however for a "manual" , I can`t explain it any easier than looking for 2 or 3 blocks of the same color to line up.

With regards to " general forex principles and common sense " , you have to make an effort on your own as well. Experience cannot be learned from reading a manual.

Let me know if you need any assistance.
Thank you for the go-ahead with the manual. With pleasure to assist.
Please check PM too.
  • #2,206
  • Sep 8, 2009 5:04am Sep 8, 2009 5:04am
EJ survived the chop for +20 (60,15,5 - note 15 was rolling)

GU took 1/2 off below R1 +21 unfortunatley moved SL too tight on 2nd half before big run up +12 (Day,4hr,60,30,15,5 you name it)

Going to look at the management EAs as my intratrade management is not hot and also had I not been babysitting EJ I could have gone back in on GU.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: mtftrixgu080909.gif Size: 15 KB
  • #2,207
  • Sep 8, 2009 5:07am Sep 8, 2009 5:07am
If you like LOTS of BLOCKS, this is your lucky day.

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

Very strong bullish trend reflected in MTF.
EURUSD also made a new high for 2009.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_01 Sep. 08 12.01.gif Size: 21 KB
" Never let the past hold the future to ransom "
  • #2,208
  • Sep 8, 2009 5:20am Sep 8, 2009 5:20am
Target for 240M 16575

50 Fib level which is normally an important long term level.

Daily range 254 at present.

It is well in excess of the average trading range for the pair and a retracement and/or consolidation is possible.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_02 Sep. 08 12.19.gif Size: 21 KB
" Never let the past hold the future to ransom "
  • #2,209
  • Sep 8, 2009 5:28am Sep 8, 2009 5:28am
Hi

can anyone post here the Roy MTF indi, as i am not able to download any file from the attachment icon, get redirected to FF first page, maybe some bug

thanks for the help

nisha
Trend is your friend...
  • #2,210
  • Sep 8, 2009 5:44am Sep 8, 2009 5:44am
Hi quick question probably for Gleneagles but feel free to speculate. Appologies if its a stupid one.

OK here is something not entirely 100% clear in my mind.

In the picture you have signal candle D long (lets say everything is lining up for 60 15 5 or 30 5)

When you say look to the left of the signal candle did it form a new high?

are you saying?
1) is the high of C (candle to left of singal candle D) higher than the high of B (candle two places to left of D) ?
2) is the high of signal candle D higher than the high of the candle to the left C ?
3) is the high of candle C (or D) higher than the recent highs candle A ? essentially taking the brake of recent highs after a valid signal which is what I have been doing mostly but am unsure about, pehaps this is a bit too conservative?

4) none of the above
Attached Image
  • #2,211
  • Sep 8, 2009 5:49am Sep 8, 2009 5:49am
Quoting nisha4x
Hi

can anyone post here the Roy MTF indi, as i am not able to download any file from the attachment icon, get redirected to FF first page, maybe some bug

thanks for the help

nisha
Hi Nisha

Here it is
Attached File(s)
File Type: ex4 MTF_Trix_Meter.ex4   5 KB | 561 downloads
  • #2,212
  • Sep 8, 2009 5:53am Sep 8, 2009 5:53am
Thanks a lot, appreciate the quick post.

I was away due to personal reasons and will soon start posting here, its a wonderful thread thanks to indrek, glen, irathi and all other contributors


Quoting pgpb
Hi Nisha

Here it is
Trend is your friend...
  • #2,213
  • Sep 8, 2009 5:57am Sep 8, 2009 5:57am
[quote=dwayneyboy;3033462]Hi quick question probably for Gleneagles but feel free to speculate. Appologies if its a stupid one.

OK here is something not entirely 100% clear in my mind.

Hello Dwayneboy,
Thanks for asking!, I have the same question.

Also many thanks for Indrek for starting and managing the thread and Glen for the great system.

Regards

Caz
  • #2,214
  • Sep 8, 2009 6:24am Sep 8, 2009 6:24am
Quoting nisha4x
Hi

can anyone post here the Roy MTF indi, as i am not able to download any file from the attachment icon, get redirected to FF first page, maybe some bug

thanks for the help

nisha
If you make your way to the 1st page, 1st post (by Indrek), you will find all the indicators that are recommended for these systems.

I hope it helps.
I trade what I see on my charts. Do Not listen to the Muppets.
  • #2,215
  • Sep 8, 2009 6:41am Sep 8, 2009 6:41am
Not a silly question, if it clarifies the system.

OK, my understanding is.. When you get a signal to enter a trade (eg a blue arrow on your chart, or the new 'Block Method ) The signal is confirmed if the current candle (D in your image) has a high, that is higher than the candle to its left.

Hope that helps....

CM

Quoting dwayneyboy
Hi quick question probably for Gleneagles but feel free to speculate. Appologies if its a stupid one.

OK here is something not entirely 100% clear in my mind.

In the picture you have signal candle D long (lets say everything is lining up for 60 15 5 or 30 5)

[color=black][font=Verdana]When you say look to the left of the signal...
  • #2,216
  • Sep 8, 2009 6:46am Sep 8, 2009 6:46am
[quote=dwayneyboy;3033462]Hi quick question probably for Gleneagles but feel free to speculate. Appologies if its a stupid one.

Dwayneyboy,

Here is the answer.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_03 Sep. 08 13.43.gif Size: 80 KB
" Never let the past hold the future to ransom "
  • #2,217
  • Sep 8, 2009 6:48am Sep 8, 2009 6:48am
Quoting dwayneyboy
Hi quick question probably for Gleneagles but feel free to speculate. Appologies if its a stupid one.

OK here is something not entirely 100% clear in my mind.

In the picture you have signal candle D long (lets say everything is lining up for 60 15 5 or 30 5)

[color=black][font=Verdana]When you say look to the left of the signal...
dwayneyboy and caz: Please re-read post# 2150 and #2151 on page 144.
Glenn has illustrated clearly and explained it there.


Thanks.
  • #2,218
  • Edited 7:32am Sep 8, 2009 6:58am | Edited 7:32am
[quote=Gleneagles;3033642]
Quoting dwayneyboy
Hi quick question probably for Gleneagles but feel free to speculate. Appologies if its a stupid one.

Dwayneyboy,

Here is the answer.
Thanks Glen, Irathi. I had read that, thats what had put doubt in my mind as the way I was doing it before had been a bit different http://www.forexfactory.com/images/icons/icon14.gif

Cheers Codemonkey
  • #2,219
  • Sep 8, 2009 7:39am Sep 8, 2009 7:39am
[quote=Gleneagles;3033642]
Quoting dwayneyboy
Hi quick question probably for Gleneagles but feel free to speculate. Appologies if its a stupid one.

Dwayneyboy,

Here is the answer.
Hi Glen,

So you only look back 1 candle (no -c-).
(and if all the conditions of the checklist are oke, than you enter the trade)

Thanks

Caz
  • #2,220
  • Sep 8, 2009 7:48am Sep 8, 2009 7:48am
[quote=caz;3033790]
Quoting Gleneagles

Hi Glen,

So you only look back 1 candle (no -c-).
(and if all the conditions of the checklist are oke, than you enter the trade)

Thanks

Caz
I only look back 1 candle....I promise
If trading conditions line up sure...I take the trade.
" Never let the past hold the future to ransom "
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