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MTF Trix system

  • #2,241
  • Sep 8, 2009 11:10am Sep 8, 2009 11:10am
Quoting Trader7
GBPJPY

System : Two Block 30m, 5m

Results : 25 + 2 + 2 = 29
Ugly pullback from the big number?

But money in the bank.
" Never let the past hold the future to ransom "
  • #2,242
  • Sep 8, 2009 11:12am Sep 8, 2009 11:12am
Glen, thank you for your Magic Blocks.

Trying to get used to blocks instead of the bars. I suppose matter of time before I can read them as well as the bars. Experiencing different visual impact at the moment.
  • #2,243
  • Sep 8, 2009 11:15am Sep 8, 2009 11:15am
Quoting Trader7
GBPJPY

System : Two Block 30m, 5m

Results : 25 + 2 + 2 = 29
Hey Trader7,nice trade..one question what kind of stoploss you using on these trades because i can see you take some heat before the trade actually move your way?.Overall well done! .
  • #2,244
  • Sep 8, 2009 11:37am Sep 8, 2009 11:37am
Hi,

tried the two-block-system ... long-trade ... the result was lausy. Two more possible (short-)trades would have been bad also.

Attached Image (click to enlarge)
Click to Enlarge Name: 2009-09-08 post 1-1.gif Size: 33 KB


The setting of Roystons Trixes are:

1. Line: M5 with Trix-period 3
2. Line: M15 with Trix-period 3

Any idea what went wrong?

Thanks
If there are pips you can collect - just do it!
  • #2,245
  • Sep 8, 2009 11:40am Sep 8, 2009 11:40am
Quoting studbiol
Hi,

tried the two-block-system ... long-trade ... the result was lausy. Two more possible (short-)trades would have been bad also.

Attachment

The setting of Roystons Trixes are:

1. Line: M5 with Trix-period 3
2. Line: M15 with Trix-period 3

Any idea what went wrong?

Thanks
Haven't you thought about getting rid of those Scalper Candles? They are a bit confusing. I cannot understand if these were valid signals - was there H/L of signal candle broken or not?

And what blocks are these at the bottom? If the upper row is M5 Trix then it does not match with Scalper Candles that are also M5 Trix?
At least at 2 first cases Scalper Candles point to the opposite direction?
  • #2,246
  • Sep 8, 2009 11:41am Sep 8, 2009 11:41am
Quoting studbiol
Hi,

tried the two-block-system ... long-trade ... the result was lausy. Two more possible (short-)trades would have been bad also.

Attachment

The setting of Roystons Trixes are:

1. Line: M5 with Trix-period 3
2. Line: M15 with Trix-period 3

Any idea what went wrong?

Thanks
Are you trading 15 5 ?

Use the checklist I posted earlier.
You took the trade right at the extreme of the daily range.
It was already 50% over the normal average daily range.

Also look at post # 2208
" Never let the past hold the future to ransom "
  • #2,247
  • Sep 8, 2009 11:56am Sep 8, 2009 11:56am
Quoting stunna29
Hey Trader7,nice trade..one question what kind of stoploss you using on these trades because i can see you take some heat before the trade actually move your way?.Overall well done! .

Hi stunna29 thank you. The stop loss was 45. A large stop loss is necesssary for GU as it is a real monster the way it moves in wild swings. Heat is always emanating from this dragon.
  • #2,248
  • Sep 8, 2009 11:57am Sep 8, 2009 11:57am
Quoting Indrek
Haven't you thought about getting rid of those Scalper Candles? They are a bit confusing. I cannot understand if these were valid signals - was there H/L of signal candle broken or not?

And what blocks are these at the bottom? If the upper row is M5 Trix then it does not match with Scalper Candles that are also M5 Trix?
At least at 2 first cases Scalper Candles point to the opposite direction?
O.K. here without Scalper Candels. As I understood the Brick-idea there is no need to look for valid signals ... maybe I'm wrong.

The blocks on the bottom are explained below the chart.

Here a second pic with the Tree-Block-idea. The blocks are
1. Row: M5
2. Row: H1
3. Row: H4

All Royston-Blocks set to Trix-period 3

Attached Image (click to enlarge)
Click to Enlarge Name: 2009-09-08 post 1-2.gif Size: 32 KB


Doesn't look much better ... sorry to say

If there are pips you can collect - just do it!
  • #2,249
  • Sep 8, 2009 12:00pm Sep 8, 2009 12:00pm
Quoting Gleneagles
Are you trading 15 5 ?

Use the checklist I posted earlier.
You took the trade right at the extreme of the daily range.
It was already 50% over the normal average daily range.

Also look at post # 2208
No, the trade is 30, 5.

I will reread your posts.

BTW: SwingMan's Trix is just a relict and I use it only on the second view. It is set to M30 - 3,1,1,1

If there are pips you can collect - just do it!
  • #2,250
  • Sep 8, 2009 12:03pm Sep 8, 2009 12:03pm
Quoting studbiol
O.K. here without Scalper Candels. As I understood the Brick-idea there is no need to look for valid signals ... maybe I'm wrong.

The blocks on the bottom are explained below the chart.

Here a second pic with the Tree-Block-idea. The blocks are
1. Row: M5
2. Row: H1
3. Row: H4

All Royston-Blocks set to Trix-period 3

Attachment

Doesn't look much better ... sorry to say

There is a need to look at H/L of a M5 signal candle. And if trading 30,5 then it is suggested to look at the H/L of M30 signal candle, too.
The system is exactly the same, only Glen has put it in a different way
I think the most important is what Glen told you considering the wrong time for trading GU (daily range far exhausted).
But even without this issue - the 2nd and 3rd are not entry signals as M5 and M30 are pointing to different directions? Or am I mistaken?
  • #2,251
  • Sep 8, 2009 12:18pm Sep 8, 2009 12:18pm
Quoting Indrek
There is a need to look at H/L of a M5 signal candle. And if trading 30,5 then it is suggested to look at the H/L of M30 signal candle, too.
The system is exactly the same, only Glen has put it in a different way
I think the most important is what Glen told you considering the wrong time for trading GU (daily range far exhausted).
But even without this issue - the 2nd and 3rd are not entry signals as M5 and M30 are pointing to different directions? Or am I mistaken?
I'm going to reread Glen's post ... needs a litte time.

2nd and 3rd no entry signals as M5 and M30 are pointing to different directions??? Seems I have to reread a lot of posts ... I thought 2 (3) blue bricks = long trade and 2 (3) reed bricks = short trade.

I will just stop posting until I've finished rereading.

If there are pips you can collect - just do it!
  • #2,252
  • Sep 8, 2009 12:21pm Sep 8, 2009 12:21pm
Quoting studbiol
2nd and 3rd no entry signals as M5 and M30 are pointing to different directions??? Seems I have to reread a lot of posts ... I thought 2 (3) blue bricks = long trade and 2 (3) reed bricks = short trade.
Yes, 2 blue = long and 2 blue = red but only if these 2 are M5 and M30.
And 3 blocks setup works if the 3 are M5, M15, M60.
Not just any 2 or 3 blocks that you see on your chart.
  • #2,253
  • Sep 8, 2009 12:31pm Sep 8, 2009 12:31pm
Quoting Indrek
Yes, 2 blue = long and 2 blue = red but only if these 2 are M5 and M30.
And 3 blocks setup works if the 3 are M5, M15, M60.
Not just any 2 or 3 blocks that you see on your chart.

As mentioned ... I have to reread.

Back to
Attached Image


I will need some time.

If there are pips you can collect - just do it!
  • #2,254
  • Sep 8, 2009 12:35pm Sep 8, 2009 12:35pm
Quoting studbiol
As mentioned ... I have to reread.

Back to Attachment

I will need some time.

My suggestion to you and also anybody else is that you should not treat the "blocks" as a different system. Nothing has changed in the rules, Glen just found a funny and extremely simple way to present the system from a new angle. IT IS THE SAME SETUP, people
  • #2,255
  • Sep 8, 2009 12:52pm Sep 8, 2009 12:52pm
Quoting Trader7
Hi stunna29 thank you. The stop loss was 45. A large stop loss is necesssary for GU as it is a real monster the way it moves in wild swings. Heat is always emanating from this dragon.
You are right..a trader must have faith and believe in his or her system..alot of trader when they take a trade and it start to go against them they get nervous and close the trade prematurely just to see it trun and would it their profit target..nice work, keep trusting your system .
  • #2,256
  • Sep 8, 2009 12:57pm Sep 8, 2009 12:57pm
Quoting studbiol
As mentioned ... I have to reread.

Back to Attachment

I will need some time.

Where to you get these funny picture Studbiol?
  • #2,257
  • Sep 8, 2009 1:02pm Sep 8, 2009 1:02pm
This is how I've seen the GU today. Trade no. 1, 2 and 3 all winners, for as many pips as you feel like taking.

Trade 4 would still have given 10 or so pips even though it was at a very high line already, Trade 5, 6 and 7 wouldn't have been taken, didn't take out the candle before it. Trade 8 short would have taken some on. Blocks are 5, 15 and 60.
Attached Image (click to enlarge)
Click to Enlarge Name: gu8-9.gif Size: 40 KB
  • #2,258
  • Sep 8, 2009 1:05pm Sep 8, 2009 1:05pm
Quoting luckylady
This is how I've seen the GU today. Trade no. 1, 2 and 3 all winners, for as many pips as you feel like taking.

Trade 4 would still have given 10 or so pips even though it was at a very high line already, Trade 5, 6 and 7 wouldn't have been taken, didn't take out the candle before it. Trade 8 short would have taken some on. Blocks are 5, 15 and 60.
Very good and clear analysis!
60,15,5 is a good and safe choice, too, if to compare with 30,5.
  • #2,259
  • Sep 8, 2009 1:39pm Sep 8, 2009 1:39pm
Maybe, but if you are trading 30-5 then you are trading those two blocks, and do not sneak other tf's.


Quoting Gleneagles
Retracement trade against the major trend. At best today good for a few quick risky pips. Hindsight is always good to have though.
  • #2,260
  • Edited 1:40pm Sep 8, 2009 1:39pm | Edited 1:40pm
Quoting Indrek
Very good and clear analysis!
60,15,5 is a good and safe choice, too, if to compare with 30,5.
Hi Indrek and Glen

First of all, although I don't like to clog the thread with thankyou's, but I too want to add my voice in the chorus of gratitude for what you and Glen are doing.

I live in Toronto, and although I get up rather early most days....the dramatic move up in prices had already taken place so I was nervous to trade today with prices at such highs.

There is not much mention of 240 5 trades. Would these be considered to be longer term trades, with larger stop losses required? (and larger take profits)

By the way, I know that Irathi is working on a manual. One thing that I would encourage anyone to do (and to post to share) is to work on writing a simple manual/check list. When I did this, it was a very good exercise for me to focus my thinking. (I wrote one a while ago, which I sent to Indrek)
I think Indrek is right...the system is so simple that a manual is not required...but it is a good exercise

Note to AlpariUK users: Can anyone who is using Alpari as a broker PM me. I have a question about GMT settings when using the i-ParamonWorktime indicator and I do not want to clog the thread with such a small detail

PGPB
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