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MTF Trix system

  • #2,681
  • Sep 22, 2009 2:41am Sep 22, 2009 2:41am
Quoting Indrek
Very brave I preferred to take the first profit exactly at pivot.
That is the sensible option, I am trying out a new EA and for some reason it skipped the TP1 level.
" Never let the past hold the future to ransom "
  • #2,682
  • Sep 22, 2009 2:44am Sep 22, 2009 2:44am
Quoting Gleneagles
That is the sensible option, I am trying out a new EA and for some reason it skipped the TP1 level.
It is probably an enhanced version - skips stupid intentions of a trader
  • #2,683
  • Sep 22, 2009 2:47am Sep 22, 2009 2:47am
Quoting Indrek
It is probably an enhanced version - skips stupid intentions of a trader
Maybe it can read the size of the move and adjust TP levels automatically
" Never let the past hold the future to ransom "
  • #2,684
  • Sep 22, 2009 3:32am Sep 22, 2009 3:32am
Quoting Gleneagles
Maybe it can read the size of the move and adjust TP levels automatically
Can you sell it to me? I would like to demo trade with it
  • #2,685
  • Sep 22, 2009 3:46am Sep 22, 2009 3:46am
This was probably pushing it a bit--it was reentry type--3rd one-- but it was under pivot with room to 140.500
18 pips for .6 lots then Update stops ea moved stop to B/E and .4 lots stopped out
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We are all One. Be present. Be the Observer
  • #2,686
  • Sep 22, 2009 3:51am Sep 22, 2009 3:51am
60 15 5

Reentry

Total GBPUSD 2 trades today 68 pips average
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" Never let the past hold the future to ransom "
  • #2,687
  • Edited 4:14am Sep 22, 2009 4:01am | Edited 4:14am
Just starting out with the trix mtf system. I gave it a go on GBPUSD today
and caught a nice 31 pip profit (on the daily pivot). After I took the screen I also noticed that there were 3 opportunities to lock in profit.
The first one was at 6:30 (on IBFX) - I didn't take that, because it was too close to R1. The second one (which I took) and which also gave me some heet before it stared to go and finally the third one at 8:20 (IBFX time) on 3 green blocks.

The interesting part is that all 3 trades were 1:1 RR ratio.

My question to the experienced TRIX trades is do you take 1:1 r/r trades or do you only take ones that are 1.5:1, 2:1, etc.?

I've noticed that some traders take something like 0.5/1 or lower r/r ratio trades.

http://mt4.pl/images/demo.gif
NiX - click my profile & visit my website
  • #2,688
  • Sep 22, 2009 4:04am Sep 22, 2009 4:04am
Quoting Gleneagles
60 15 5

Reentry

Total GBPUSD 2 trades today 68 pips average
What stops did you use?
NiX - click my profile & visit my website
  • #2,689
  • Edited 9:04am Sep 22, 2009 4:30am | Edited 9:04am
Quoting Baniu
Thanks very much for your replies.


I have a few questions:

What are your results for the last month with this method?
I mean account growth in %.

Does anybody trade this method live?

What is your average RR ratio?

Does scailing out helped you really squeeze more pips from a trade?
If you have any stats about it could you provide it?

Thanks very much
Baniu

Average RR ratio approximately 1:1.

Account growth is relative to risk/trade and pips gained, compounding or not compounding, investment account with no withdrawals or income account with withdrawals etc

Scaling out benefit as opposed to a fixed TP target depends entirely on the TP targets set per pair. It is a personal choice whether you want to use it.
If all the trades are the same size, a fixed TP target is best...the reality is that we don`t know before the time. Scaling out works for me, to see a 25-30 pip trade turn against you and ending up at breakeven or a loss because you have set your fixed TP target at 35 pips is criminal IMHO.

At 2% risk per trade, compounding with no withdrawals, I look at a return of 1K = 23K over a period of 12 months. It is approximately 30%/month on average.

Your risk profile and personal circumstances will dictate how you should trade, in the end it is a personal choice.
" Never let the past hold the future to ransom "
  • #2,690
  • Sep 22, 2009 4:31am Sep 22, 2009 4:31am
Quoting nix
What stops did you use?
I use a SL of 40 pips when I put on the trade (GBPUSD)
" Never let the past hold the future to ransom "
  • #2,691
  • Sep 22, 2009 4:41am Sep 22, 2009 4:41am
[quote=nix;3079742]Just starting out with the trix mtf system. I gave it a go on GBPUSD today


Nix
Here is a screen shot from page 8 of Irathi's manual---It shows all the suggested R/R and I reckon its great to set these in the Updatestops ea and maybe fine tune to avoid round numbers pivots etc.
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We are all One. Be present. Be the Observer
  • #2,692
  • Edited 5:20am Sep 22, 2009 4:50am | Edited 5:20am
Quoting Iamfx
Here is a screen shot from page 8 of Irathi's manual---It shows all the suggested R/R and I reckon its great to set these in the Updatestops ea and maybe fine tune to avoid round numbers pivots etc.
When just starting with the system (and especially when starting live trading), you may very well use only one or 2 targets per trade. Scaling out is a nice method but it also includes some risks that should be kept in mind. The more targets you set, the worse is your initial RR ratio per trade.
That is why I usually use a conservative first target. Better to take at least some profit out of the trade, set SL to BE and then go for more without any risks. My first target is usually 50 % of the second target. So, with GU it is 20 pips and with EU 15.
Stoploss and targets should be in correlation with the volatility of different pairs. So, I cannot quite agree with the suggestion to set same size targets for all pairs as shown in that table. But this is my opinion only, and remember - I am a conservative person
  • #2,693
  • Sep 22, 2009 5:06am Sep 22, 2009 5:06am
[quote=Iamfx;3079889]
Quoting nix
Just starting out with the trix mtf system. I gave it a go on GBPUSD today


Nix
Here is a screen shot from page 8 of Irathi's manual---It shows all the suggested R/R and I reckon its great to set these in the Updatestops ea and maybe fine tune to avoid round numbers pivots etc.
I just picked up something that needs to be changed in the manual.
The EURUSD settings are different on pages 8 and 10. I will ask Irathi to change it.
" Never let the past hold the future to ransom "
  • #2,694
  • Sep 22, 2009 5:32am Sep 22, 2009 5:32am
Quoting Gleneagles
I use a SL of 40 pips when I put on the trade (GBPUSD)
I've also noticed that you start trading at 7 GMT. Is this correct?
NiX - click my profile & visit my website
  • #2,695
  • Sep 22, 2009 5:46am Sep 22, 2009 5:46am
Quoting nix
I've also noticed that you start trading at 7 GMT. Is this correct?
Nix, .....Lrathi has invested a great deal of effort into creating a manual.
:-) where such questions are answered

The best way to thank her, is to read it thoroughly

Best wishes
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  • #2,696
  • Sep 22, 2009 5:47am Sep 22, 2009 5:47am
Quoting nix
I've also noticed that you start trading at 7 GMT. Is this correct?
Normally around 06H00 GMT but I am set up at 05H30 GMT.
" Never let the past hold the future to ransom "
  • #2,697
  • Sep 22, 2009 5:54am Sep 22, 2009 5:54am
Hi traders,

took EURUSD and GBPUSD. My entries were a little late and it was a bit risky to enter (especially with EURUSD because of "Big-number" and small RmUp) but I had both positive.

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UpdateStopps was running o.k. today ... I hope it will do so further on.


Have a nice day

If there are pips you can collect - just do it!
  • #2,698
  • Sep 22, 2009 6:41am Sep 22, 2009 6:41am
Hi Seniors, must I change the default setting time 0900 to 1100 and 1400 to 1700 as I am using IBFX platform? Thanks
  • #2,699
  • Sep 22, 2009 12:40pm Sep 22, 2009 12:40pm
Indrek

If this is too much off topic, just let me know via pm (and i will delete), but I would be interested in yours and Glen's opinion.

A friend of mine who trades forex tells me that he just hardly ever takes a loss. He says that if the trade goes against him....he just holds on to it, and it eventually comes back and allows him to take profits.

Assuming one had an account with $10,000 USD and one was trading a dollar a pip......one could afford to have a trade go against you 200 pips and then see it come back into profit. He showed me his equity curve and it is pretty healthy. He makes good trades, but every once and a while one goes against him and he just holds on to it. what are your thoughts on this?


I think we have (with the manual, and Glen and Indrek's guidance) really got a very clear picture of MTF trix trading. I wonder what is the next for this thread? Glen has alluded to "other systems" and I know that Indrek has mentioned a "break out" system......I would just love to know about those.

Obviously we should keep on posting our MTF trades here, but I wonder if there is a next level we can take this thread to?
  • #2,700
  • Sep 22, 2009 2:55pm Sep 22, 2009 2:55pm
Quoting pgpb
Indrek

If this is too much off topic, just let me know via pm (and i will delete), but I would be interested in yours and Glen's opinion.

A friend of mine who trades forex tells me that he just hardly ever takes a loss. He says that if the trade goes against him....he just holds on to it, and it eventually comes back and allows him to take profits.

Assuming one had an account with $10,000 USD and one was trading a dollar a pip......one could afford to have a trade go against you 200 pips and then see it come back into profit....
In terms of MTF trading, the only missing component is the 240 15 5 TF trading and adding 60 15 5 to it as a basket of trades. I suspect that most traders won`t even attempt it because they prefer lots of small trades with small SL and quick TP targets

I am guest on the threat and it is not my decision which way it should go. It looks like the interest is waning in trading this method. It is a personal choice what and how you wish to trade, it is after all your risk and your $ and you should trade within your comfort zone. I like the simplicity of trading MTF. It works for me and generate enough pips consistently but again...like any other trading system..it requires discipline and consistency to make it work.
" Never let the past hold the future to ransom "
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