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MTF Trix system

  • #2,461
  • Sep 15, 2009 5:23am Sep 15, 2009 5:23am
Quoting dutchsignals
thanks IAM fx..

happy trading
dutchsignals
No worries.
Here is my first trade--got most bits right( I think) except for too close to pivot and round number
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We are all One. Be present. Be the Observer
  • #2,462
  • Sep 15, 2009 5:26am Sep 15, 2009 5:26am
Quoting Iamfx
No worries.
Here is my first trade--got most bits right( I think) except for too close to pivot and round number
Good work mate!
How do you make a small fortune in Forex? Start with a large one!
  • #2,463
  • Sep 15, 2009 6:27am Sep 15, 2009 6:27am
Hello,
Thank you very much for contributing in this system.
I have tried it, some signal are very good but it I still have problems on when to decide to close or take profit, which signals to ignore and which to take.
Please have a look at my charts and let me know what you should have done in that situation.
On the left chart, I get a signal to short EUR USD according to your indications .
Then I see a reversal, but because I was making 15pips at the most I let it run thinking that it wasn't the 20pips or above you recommend to go for.
So I let it go thinking it would break the 50% fib level just to see it take 15pips on the opposite direction. (right chart)
So my question is, when do you close your trade when you haven't had the 20pips suggested and you see a reversal. Or what is the signal to close an order when you haven't had the 20 pips suggested in the guide? Or should we go for the fibs levels only?
Many thanks for your help.
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  • #2,464
  • Sep 15, 2009 6:51am Sep 15, 2009 6:51am
First 2 trades for today:

GBPJPY 60-15-5:
+25 +24 +24

AUDUSD 60-15-5:
+3 +3 +3

Both manually closed...news time is approaching and it becomes more dangerous minute after minute...
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Market is like a puzzle, YOU have to fit the pieces!!
  • #2,465
  • Sep 15, 2009 7:38am Sep 15, 2009 7:38am
Quoting don_choa
Hello,
Thank you very much for contributing in this system.
I have tried it, some signal are very good but it I still have problems on when to decide to close or take profit, which signals to ignore and which to take.
Please have a look at my charts and let me know what you should have done in that situation.
On the left chart, I get a signal to short EUR USD according to your indications .
Then I see a reversal, but because I was making 15pips at the most I let it run thinking that it wasn't the 20pips or above you recommend to go for.
So I let...
If I was using your charts I would be confused also.
You have way too many indicators on your charts.
This is just my opinion and my guess is that other traders will agree.
Why not try using the 3 block system, 60-15-5
Exactly as it is in the manual.
Give that a try for a few weeks.
This is my advice.....see what others say.
  • #2,466
  • Sep 15, 2009 8:06am Sep 15, 2009 8:06am
Quoting don_choa
Hello,
Thank you very much for contributing in this system. I have tried it, some signal are very good but it I still have problems .....
Many thanks for your help.
Hi Don Choa,

may I ask you some questions?

Did you read the last 20 pages of this thread?
Did you read the new manual shown on post #1?
Do you use UpdateStopps?
Do you like to use additional indicators to the described MTTF-method?
Do you really need additional indicators?

Sorry if it sounds boring to you ... but ... why not give the MTF-method a chance in the way it is described in many posts and in the manual?

Maybe these reflecting questions can help you to find your way ... just my opinion.

If there are pips you can collect - just do it!
  • #2,467
  • Sep 15, 2009 8:30am Sep 15, 2009 8:30am
Quoting don_choa
So my question is, when do you close your trade when you haven't had the 20pips suggested and you see a reversal. Or what is the signal to close an order when you haven't had the 20 pips suggested in the guide? Or should we go for the fibs levels only?
Many thanks for your help.
I do not want to confuse you but the exit strategy is very much up to your decision. And the decision depends on how you feel and handle risks. What is suggested by other traders or in manual, is just a suggestion that gives you the general idea about what could the target be. You yourself must find the optimal version during your trades.
I am quite conservative in taking risks, so I usually set first target for EU at 15 pips, not 20. And at the moment when first target is hit, I set the SL to BE. This is quite a safe way to trade this system.
  • #2,468
  • Sep 15, 2009 8:37am Sep 15, 2009 8:37am
First loss on EURUSD 60-15-5

-30 -30 -30
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Market is like a puzzle, YOU have to fit the pieces!!
  • #2,469
  • Sep 15, 2009 8:37am Sep 15, 2009 8:37am
I have download the manual and I will go thru it at least three times.... Thank you Glen, Indrek and everyone in this tread that make it possible. I will post my questions after my reading. Thank you ALL.
  • #2,470
  • Edited 8:55am Sep 15, 2009 8:44am | Edited 8:55am
Quoting Chris_B
First loss on EURUSD 60-15-5

-30 -30 -30
Sorry for your unhappy trade...
The signal candle's range was 32 pips and you entered in the middle of a candle with 27 pips range... Too dangerous!

Strange that you have a Pivot line at 1.4566... On my chart Daily Pivot is at 1.4597 and nothing around 1.4566... I even have not thought much about the influence of different time zones but now it seems that the difference can be huge or even lethal
  • #2,471
  • Sep 15, 2009 8:49am Sep 15, 2009 8:49am
Quoting Indrek
Sorry...
The signal candle's range was 32 pips and you entered in the middle of a candle with 27 pips range...
Strange that you have a Pivot line at 1.4566... On my chart Daily Pivot is at 1.4597 and nothing around 1.4566... I even have not thought much about the influence of different time zones but now it seems that the difference can be huge or even lethal
Yes...my pivots are not the same as others that i've seen here...

No worries...i knew it was a risky trade...
Market is like a puzzle, YOU have to fit the pieces!!
  • #2,472
  • Sep 15, 2009 8:49am Sep 15, 2009 8:49am
hello to all ...

the manual suggests a incador opacional "P4L Clock" where can I find ?....

thanks
hugs
  • #2,473
  • Sep 15, 2009 8:53am Sep 15, 2009 8:53am
Quoting Chris_B
First loss on EURUSD 60-15-5

-30 -30 -30
Sorry to see your loss. Just an idea: Maybe you started your trade too narrow to the red flag news. Perhaps any other trader has a better idea.

I wish you to have many better trades.

If there are pips you can collect - just do it!
  • #2,474
  • Sep 15, 2009 9:13am Sep 15, 2009 9:13am
Quoting Chris_B
First loss on EURUSD 60-15-5

-30 -30 -30
Hi Chris

I did the same thing.
What I learned from it was ,(as per page 12 of the manual, hint 2) "the first time the trend changes is the best time to trade"
Looking at the market today it seems that the 60 TRIX have been one color for quite a while.

PGPB
  • #2,475
  • Sep 15, 2009 9:25am Sep 15, 2009 9:25am
To all involved with the issue of the Manual, Congratulations and well done for all the good work.
  • #2,476
  • Sep 15, 2009 9:40am Sep 15, 2009 9:40am
Quoting Indrek
Sorry for your unhappy trade...
The signal candle's range was 32 pips and you entered in the middle of a candle with 27 pips range... Too dangerous!

Strange that you have a Pivot line at 1.4566... On my chart Daily Pivot is at 1.4597 and nothing around 1.4566... I even have not thought much about the influence of different time zones but now it seems that the difference can be huge or even lethal

Hi Chris,

I had a similar experience with the EURUSD today. Lost 35 pips. It seemed to me that all the conditions were met for a reasonable trade. The trade was placed 15 minutes after the news release. This is what trading is all about. You win some and you loose some. The key thing is risk management and adherance to the trading plan. It's a learning experience for me.

Indrek, you stated that the signal candle had a 32 pip range. Could you elaborate on this point. I apologise if this has already been discussed in this thread. Is the range of the signal candle a factor in executing the trade? Thank you.

fxpilot
  • #2,477
  • Sep 15, 2009 9:40am Sep 15, 2009 9:40am
Quoting pgpb
Hi Chris

I did the same thing.
What I learned from it was ,(as per page 12 of the manual, hint 2) "the first time the trend changes is the best time to trade"
Looking at the market today it seems that the 60 TRIX have been one color for quite a while.

PGPB
Trading on these news days can be really dangerous..that is why it is best to stay out the market for aleast an hour..30 min before and 30 min after the news.. i waited over two hours before i take this trade but it was worth it..nice +30pips.
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  • #2,478
  • Sep 15, 2009 9:48am Sep 15, 2009 9:48am
Quoting fxpilot
Indrek, you stated that the signal candle had a 32 pip range. Could you elaborate on this point. I apologise if this has already been discussed in this thread. Is the range of the signal candle a factor in executing the trade? Thank you.
fxpilot
Yes, it was discussed here briefly but it is also sth that belongs to the basic rules of trading. If you see any anomaly - be careful!

The usual range (or ATR) of M5 candle of EU is 7-10 pips. If you see a candle that is already more than 20-25 pips then it is anomaly and should be treated with highest respect

What usually happens after a very long candle is at least bigger retracement if not reversal.
  • #2,479
  • Sep 15, 2009 9:56am Sep 15, 2009 9:56am
GBPUSD

System : 30, 5

Results : 25 + 35 + 50 = 110
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  • #2,480
  • Sep 15, 2009 10:00am Sep 15, 2009 10:00am
GBPJPY

System : 30,5

Results : 25 + 35 + 50 = 110
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