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MTF Trix system

  • #2,601
  • Sep 18, 2009 8:06am Sep 18, 2009 8:06am
Quoting Gleneagles
Next week I can try it on live account
Isn't it too early? Not enough backtesting and demo trading passed!

BTW: What is your br*ker's time zone? GMT +2?
  • #2,602
  • Sep 18, 2009 8:13am Sep 18, 2009 8:13am
Quoting Indrek
Isn't it too early? Not enough backtesting and demo trading passed!

BTW: What is your br*ker's time zone? GMT +2?
No, I like to try out new systems I find on FF on demo first


GMT +1
" Never let the past hold the future to ransom "
  • #2,603
  • Sep 18, 2009 8:19am Sep 18, 2009 8:19am
Quoting Gleneagles
Next week I can try it on live account
Hey Gleneagles,

Am I correct in saying that it seems like a lot of those trades have an initial target of 10 to 15 pips?
  • #2,604
  • Sep 18, 2009 8:22am Sep 18, 2009 8:22am
I debated whether to even post it, as it is in non conformance with this system.
Quoting Indrek
General and the most important principle is: whatever works for you is

I am unfortunately not able to use MAs, Bollinger Bands or stuff like this effectively. I feel like a blind person when looking at these. Blocks and arrows are OK for me

Maybe you should open a friendly thread to discuss your setup? Or is there already sth like this presented in FF?
  • #2,605
  • Sep 18, 2009 8:27am Sep 18, 2009 8:27am
Quoting angus
Hey Gleneagles,

Am I correct in saying that it seems like a lot of those trades have an initial target of 10 to 15 pips?
Right, I stated earlier during the LDN session that I will target smaller pips because the pairs have made relatively large moves already.
" Never let the past hold the future to ransom "
  • #2,606
  • Sep 18, 2009 8:27am Sep 18, 2009 8:27am
Quoting paradoxical
I debated whether to even post it, as it is in non conformance with this system.
It is still close
I think that a long and detailed discussion of your setup would be off-topic but to show different variations briefly is not bad at all. If then somebody will want to focus on it then it could be done already in a new thread.
  • #2,607
  • Sep 18, 2009 8:29am Sep 18, 2009 8:29am
Quoting Gleneagles
Right, I stated earlier during the LDN session that I will target smaller pips because the pairs have made relatively large moves already.
I have a Pivot line at 1.6338, where is it on your chart? I ask because I see that you have taken a short trade at 1.6343... 5 pips above Pivot.
  • #2,608
  • Sep 18, 2009 8:38am Sep 18, 2009 8:38am
Hi Experts, I haave two charts on my two computers and it show two different sets of color boxes. Any thing went wrong? I have checked, they have the same setting. I close and re-open the application. However, they are the same. I attach two pics for your reference. Thanks

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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  • #2,609
  • Sep 18, 2009 8:39am Sep 18, 2009 8:39am
Nice statement, Glen. I'd say you're getting the hang of it!! LOL

Carol

Quoting Gleneagles
Next week I can try it on live account
  • #2,610
  • Sep 18, 2009 8:40am Sep 18, 2009 8:40am
Sorry all, the first square is 5,15,60 and 240. The lower two are 5 and 30. Thanks
  • #2,611
  • Sep 18, 2009 8:46am Sep 18, 2009 8:46am
Hi All, sorry.. i forgot the time frame. The top squares are 5,15,60 and 240. The lowest square is 30 and 5 on top of it.
  • #2,612
  • Sep 18, 2009 8:50am Sep 18, 2009 8:50am
Quoting Indrek
I have a Pivot line at 1.6338, where is it on your chart? I ask because I see that you have taken a short trade at 1.6343... 5 pips above Pivot.
Remember the chart I posted with the key 618 fib level @ 16353?

I waited for the price to break below before I took the trade. It was 5 pips above a pivot level. I reckon a long term fib would be tougher to crack than a daily pivot and bargained that a bounce would be stopped by previous support...now resistance.
Attached Image
" Never let the past hold the future to ransom "
  • #2,613
  • Sep 18, 2009 8:51am Sep 18, 2009 8:51am
Quoting Indrek
I have a Pivot line at 1.6338, where is it on your chart? I ask because I see that you have taken a short trade at 1.6343... 5 pips above Pivot.
In this case I was right
Attached Image
" Never let the past hold the future to ransom "
  • #2,614
  • Sep 18, 2009 8:57am Sep 18, 2009 8:57am
Quoting Indrek
Thanks.
I have been a heavy user of Fibs for a long time, so I just wanted you to give a hint to others.
Fibs work perfectly on my favourite pair - GBPUSD. Or should I say it vice versa - my favourite pair always behaves reasonably, and that is why I love it
Retracements of GU very often catch exactly .382 or .618.
I got this tip from you
" Never let the past hold the future to ransom "
  • #2,615
  • Sep 18, 2009 9:12am Sep 18, 2009 9:12am
Quoting Indrek
Yes, only today, and as you are a quick learner you already made profit from it
You must always listen to good advice
" Never let the past hold the future to ransom "
  • #2,616
  • Sep 18, 2009 9:13am Sep 18, 2009 9:13am
Hi Glen, I am still confuse after reading the tread and manual few times. I attach the chart for you expertise advise. The 30 and 5 min square were green. I place a up arrow below the confirm signal candle. Am I rigth here? Next you said the left candle look for higher high + 2 pips. So the correct left candle is after the signal candle or before? Sorry to ask this question again.... I need help... thank you.
  • #2,617
  • Sep 18, 2009 9:17am Sep 18, 2009 9:17am
Quoting Indrek
Yes, only today, and as you are a quick learner you already made profit from it

But if to speak seriously then I maybe respect daily pivots too much.
I always respect them, I have seen too many times that the price reverse to the pip at a pivot point.
The long term fib was in place from the price swing starting early September and was simply more senior today.
" Never let the past hold the future to ransom "
  • #2,618
  • Edited 9:34am Sep 18, 2009 9:23am | Edited 9:34am
I am trying out a new EA to manage trades.

So far it is working really well.

Will post it next week with set files after a few more trades.
Attached Image
" Never let the past hold the future to ransom "
  • #2,619
  • Sep 18, 2009 9:44am Sep 18, 2009 9:44am
Quoting Indrek
Do you happen to know what will happen if I do not have the option from my broker to trade, for example, 0.6 lots but I enter with 1 lot and set my EA to scale out 60 % of the trade at TP1?
I am not sure, I suspect that the order will be rejected by the broker?
" Never let the past hold the future to ransom "
  • #2,620
  • Sep 18, 2009 9:46am Sep 18, 2009 9:46am
GBPUSD

System : 60, 15, 5

Results : 25 + 35 + 50 = 110
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