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MTF Trix system

  • #2,261
  • Sep 8, 2009 1:44pm Sep 8, 2009 1:44pm
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.
Hello Luckylady,

With indicator are you using for the daily quotation, pivots, daily high, fibo's? Is it already at the paperclip or could you post this please.

Thanks,

Caz
  • #2,262
  • Edited 2:01pm Sep 8, 2009 1:44pm | Edited 2:01pm
Quoting Piglet
Maybe, but if you are trading 30-5 then you are trading those two blocks, and do not sneak other tf's.
I am quite sure that it is always useful to sneak what is happening on the bigger picture. I personally find 30,5 an especially tricky combination, so it is always better to understand very well what you do when you use it. It is safer for scalping quick and smaller pips but dangerous for longer term trades.
  • #2,263
  • Sep 8, 2009 2:01pm Sep 8, 2009 2:01pm
Quoting Piglet
Maybe, but if you are trading 30-5 then you are trading those two blocks, and do not sneak other tf's.
Maybe, but I like a 30 5 trade a lot more if D1 240M trend is in the same direction. It will give you quicker reentry than a 60 15 5 for example. It will also have the potential for a bigger TP target than a 30 5 trade that is contrary to D1 240M and even maybe 60M trends. In the latter, it is OK maybe for smaller pips and a smaller TP target.

It is all a matter of personal preference though.It is your money, your risk and your decision in the end how you wish to trade it.
" Never let the past hold the future to ransom "
  • #2,264
  • Sep 8, 2009 2:07pm Sep 8, 2009 2:07pm
Quoting pgpb
Hi Indrek and Glen


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)


PGPB
I have steered away from 240M trades on purpose. We are still battling to get everyone on the same page regarding the basics of 60 15 5 and 30 5.
240M trades must ideally be traded as a basket with 60 15 5 or 30 5.
In addition, trades must be rolled over and it is best left until more experience is gained trading the " bread and butter " setups.
" Never let the past hold the future to ransom "
  • #2,265
  • Sep 8, 2009 2:07pm Sep 8, 2009 2:07pm
Recent trade. Didn't make trades earlier as I thought there was too much of a runup. This is a counter trend trade as EU is about 25 pips away from a 79 Moving Average. Will see what happens. TP and SL of 25
Attached Image (click to enlarge)
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  • #2,266
  • Sep 8, 2009 2:10pm Sep 8, 2009 2:10pm
Quoting paradoxical
Recent trade. Didn't make trades earlier as I thought there was too much of a runup. This is a counter trend trade as EU is about 25 pips away from a 79 Moving Average. Will see what happens. TP and SL of 25
Is it a 15,5 trade? As much as I see, H4 is long and only 15 and 5 are short...
  • #2,267
  • Sep 8, 2009 2:25pm Sep 8, 2009 2:25pm
This is how you defined the rules for two blocks trading a few posts back:

Quoting Gleneagles
TWO BLOCK 30 5 MTF Trix settings 3 1 1 1
...
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.
Now what i do not like here, is that if you follow those simple rules, and end up a losing trade, you suddenly start getting advice like you should have checked daily range, round numbers etc. In practice these kind of comments mean that the system has no clear rules, but it is more like ad-hoc trading. Only after system rules exist (a manual, checklist or whatever), the system is used in the same manner, and its performance can be evaluated.


Quoting Gleneagles
Maybe, but I like a 30 5 trade a lot more if D1 240M trend is in the same direction. It will give you quicker reentry than a 60 15 5 for example. It will also have the potential for a bigger TP target than a 30 5 trade that is contrary to D1 240M and even maybe 60M trends. In the latter, it is OK maybe for smaller pips and a smaller TP target.

It is all a matter of personal preference though.It is your money, your risk and your decision in the end how you wish to trade it.
  • #2,268
  • Edited 2:39pm Sep 8, 2009 2:29pm | Edited 2:39pm
Quoting Piglet
This is how you defined the rules for two blocks trading a few posts back:



Now what i do not like here, is that if you follow those simple rules, and end up a losing trade, you suddenly start getting advice like you should have checked daily range, round numbers etc. In practice these kind of comments mean that the system has no clear rules, but it is more like ad-hoc trading. Only after system rules exist (a manual, checklist or whatever), the system is used in the same manner, and its performance can be evaluated.
Sorry, it is not my turn to answer as you did not address me but here is a post that is an essential part of the rules: http://www.forexfactory.com/showpost...postcount=2192
These are for 60,15,5 but apply to 30,5 too. And possibly all other systems that exist
  • #2,269
  • Sep 8, 2009 2:32pm Sep 8, 2009 2:32pm
Quoting Piglet
This is how you defined the rules for two blocks trading a few posts back:



Now what i do not like here, is that if you follow those simple rules, and end up a losing trade, you suddenly start getting advice like you should have checked daily range, round numbers etc. In practice these kind of comments mean that the system has no clear rules, but it is more like ad-hoc trading. Only after system rules exist (a manual, checklist or whatever), the system is used in the same manner, and its performance can be evaluated.
The " general rules " and guidelines I posted apply to forex trading in general and not only to this particular system.
It was never my intention to write a complete forex trading manual that will cover the whole spectrum of trading.

Unfortunately it is not possible to provide ALL the information which in any event should be part of any forex trader`s knowledge base in the end..if they plan to be successful.

I have merely tried to cover some of the basic stuff in a checklist to assist the traders with less experience.

You have a choice, no obligation to trade this system, it is free if you plan to trade it. If not also OK with me.
" Never let the past hold the future to ransom "
  • #2,270
  • Sep 8, 2009 3:15pm Sep 8, 2009 3:15pm
Here are my efforts to get the lost 30 pips back. One trade stays open.
Good night!
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  • #2,271
  • Sep 8, 2009 8:36pm Sep 8, 2009 8:36pm
[quote=Indrek;3035063]http://www.forexfactory.com/showpost...postcount=2192

I am not sure on the items 7 & 9 listed in the rules; why NO is the answer for us to enter trade:
7) Daily range less than 80% of average?
-> if NO, then =>80%, does it mean market near limit of ADR?
9) Is the trade within the trading time zone?
-> if NO, then trade outside trading time zone?
Please advise me. Thanks.
  • #2,272
  • Sep 8, 2009 10:21pm Sep 8, 2009 10:21pm
Quoting davnck

I am not sure on the items 7 & 9 listed in the rules; why NO is the answer for us to enter trade:
7) Daily range less than 80% of average?
-> if NO, then =>80%, does it mean market near limit of ADR?
9) Is the trade within the trading time zone?
-> if NO, then trade outside trading time zone?
Please advise me. Thanks.

It is not suggested to take trades when today's range is over 80 % of ADR.
And it is not suggested to trade in the time zones where there is low volatility.
  • #2,273
  • Sep 8, 2009 11:14pm Sep 8, 2009 11:14pm
hi glen & indrek,one q: do you enter every trade with same lot size considering you use hard stop, but not adjust lot size according stop loss?
  • #2,274
  • Sep 8, 2009 11:44pm Sep 8, 2009 11:44pm
Quoting caz
Hello Luckylady,

With indicator are you using for the daily quotation, pivots, daily high, fibo's? Is it already at the paperclip or could you post this please.

Thanks,

Caz
Hello Caz, sorry for the delay in posting these but I have been out. I have attached them to this post.
Attached File(s)
File Type: ex4 #SpudFibo.ex4   9 KB | 397 downloads
File Type: ex4 Fibonacci Pivots THV.ex4   6 KB | 403 downloads
  • #2,275
  • Sep 8, 2009 11:52pm Sep 8, 2009 11:52pm
Quoting Indrek
It is not suggested to take trades when today's range is over 80 % of ADR.
And it is not suggested to trade in the time zones where there is low volatility.
Sorry for my poor command in English. I am confused by the table given in Gleneagles' checklist showing that NO as the prefer answer in order to enter trade.
But I think I should only trade when daily range is less than 80% of average, and not to trade outside the recommended trading time zone.
Thank you.
  • #2,276
  • Sep 9, 2009 12:10am Sep 9, 2009 12:10am
Quoting blackmovie
hi glen & indrek,one q: do you enter every trade with same lot size considering you use hard stop, but not adjust lot size according stop loss?
Here is a free site for risk management.....position calculator.


http://www.mataf.net/en/tools/risk-m...osition-sizing
  • #2,277
  • Sep 9, 2009 12:40am Sep 9, 2009 12:40am
Quoting lrathi
Here is a free site for risk management.....position calculator.


http://www.mataf.net/en/tools/risk-m...osition-sizing
thank you lrathi
  • #2,278
  • Sep 9, 2009 1:29am Sep 9, 2009 1:29am
Quoting luckylady
Hello Caz, sorry for the delay in posting these but I have been out. I have attached them to this post.
Thank you, Luckylady,

Regards,

Caz
  • #2,279
  • Sep 9, 2009 6:18am Sep 9, 2009 6:18am
Yesterday: EJ -50, usdcad +72 pips
  • #2,280
  • Sep 9, 2009 7:37am Sep 9, 2009 7:37am
My next stage of learning with this stuff is experimenting with take profit levels

MTF 60-15-5
+40 +20 +10
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