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MTF Trix system

  • #2,741
  • Sep 23, 2009 3:20am Sep 23, 2009 3:20am
Quoting nix
What I do is just put up vertical lines on my charts 30 min before the news event and on the news event every morning. Takes about 1 min and gets my attention for sure so I know when not to trade. Simple but effective.

very good idea
If there are pips you can collect - just do it!
  • #2,742
  • Sep 23, 2009 3:40am Sep 23, 2009 3:40am
Since I'm new to the system, I have a quick question. There was a good setup on USDYPY if it wasn't for the pivot s/r levels and for the fact that it is outside of trading hours.

Lets pretend that the setup occurred within trading hours.

http://mt4.pl/images/usdjpy.gif

Would you enter after the price broke out of the 10pip pivot level area or would you wait for a retrace on 5m and recheck entry conditions?
NiX - click my profile & visit my website
  • #2,743
  • Sep 23, 2009 4:21am Sep 23, 2009 4:21am
Quoting Gleneagles
I am sure that you will remember THAT RULE very well in future
Sure will! The lesson came with some very memorable candles...

Good thing I was not in that trade, was happening a little late in the session for my liking. It seemed to run too fast for the Trix to catch up. When the Trix lines up magically, you know the trade has more stability. A good setup seems to have a 'cleanliness' about it. Additionally, my M5 signal candle was only 11 pips above the Daily Pivot too... 30/5 was a good entry though. Shame I was elsewhere at the time.

I like the advice of filtering the calender, then marking up the chart on a daily/weekly basis. Makes good sense. I will put it into my routine...
How do you make a small fortune in Forex? Start with a large one!
  • #2,744
  • Sep 23, 2009 5:58am Sep 23, 2009 5:58am
Quote
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.
Wow! That is damn good return. It means that you have had so good
returns for one month already. Wow!

I would be glad to earn 5-10% monthly after practising this method
for at least 3-4months on demo.

One question: what is the logic behind working of atr(5) and atr(25)?
I mean why atr(5) should be bigger than atr(25) to enter a trade?
Sorry if I'm asking silly questions.

I will post my trades soon.

Thanks for your replies
Baniu
Trade what you see, not what you expect. BE LIKE WATER MY FRIEND.
  • #2,745
  • Sep 23, 2009 6:11am Sep 23, 2009 6:11am
Quoting Gleneagles
GBPUSD

240 15 5

Last 2 trades +200 and +110 open at present.

Apart from answering questions that are not covered in the comprehensive manual and posting the odd trade, there is not much else or new that I can contribute to MTF.
Hello,
cf your chart.
Are you using 240 15 and 5 mins, what are your settings please.
How can you have all TF changing colour at the same time????
Thanks
  • #2,746
  • Sep 23, 2009 7:06am Sep 23, 2009 7:06am
Hi Everybody,

This is my last trade. I killed it manually because market went sideways.

Please assess this trade.

Thanks
Baniu
Attached Image (click to enlarge)
Click to Enlarge Name: euro2.gif Size: 41 KB
Trade what you see, not what you expect. BE LIKE WATER MY FRIEND.
  • #2,747
  • Sep 23, 2009 7:09am Sep 23, 2009 7:09am
Quoting pipstroll
Hi Gleneagles,

I'm not trying to go againts your opinion, just wish to hear you wisdom.
If you know that the odds are on your favor, what do you think about averaging or even hedging? I mean, let the wound (loss) heals itself and we keep going with our new live (position). What do you think about that?
There are hedging systems that work and I have traded one but none of them are meant for saving losing positions.

I can assure you that hedging to save a losing position is both morally and monetarily very, very frustrating. Do not even think about it
  • #2,748
  • Sep 23, 2009 7:24am Sep 23, 2009 7:24am
Quoting Indrek
There are hedging systems that work and I have traded one but none of them are meant for saving losing positions.

I can assure you that hedging to save a losing position is both morally and monetarily very, very frustrating. Do not even think about it
I am the evil one who suggested this whole idea of stop losses, and letting a loser run etc.....I would like to publicly state....I have given up the idea.....my philosophy is to listen to those who know more than me.....and Glens statements on this have sealed it for me, and I have given up that thinking.

There are probably other threads where that sort of thing is explored. It would be best to take that discussion there.

thanks Indrek and Glen for keeping us on track
  • #2,749
  • Sep 23, 2009 7:31am Sep 23, 2009 7:31am
Quoting Baniu
Wow! That is damn good return. It means that you have had so good
returns for one month already. Wow!

I would be glad to earn 5-10% monthly after practising this method
for at least 3-4months on demo.

One question: what is the logic behind working of atr(5) and atr(25)?
I mean why atr(5) should be bigger than atr(25) to enter a trade?
Sorry if I'm asking silly questions.

I will post my trades soon.

Thanks for your replies
Baniu
If ATR (average trading range) of last 5 candles is higher than the ATR of the previous 25 candles, it simply means that trading activity has increased, conditions we are looking for before entering a trade.
" Never let the past hold the future to ransom "
  • #2,750
  • Sep 23, 2009 7:36am Sep 23, 2009 7:36am
Quoting don_choa
Hello,
cf your chart.
Are you using 240 15 and 5 mins, what are your settings please.
How can you have all TF changing colour at the same time????
Thanks
The settings are 240 15 5. I changed the TF from 5M to 240M to make the screenshot.
" Never let the past hold the future to ransom "
  • #2,751
  • Sep 23, 2009 7:48am Sep 23, 2009 7:48am
Quoting Baniu
Hi Everybody,

This is my last trade. I killed it manually because market went sideways.

Please assess this trade.

Thanks
Baniu
The market is sideways
You are correct.
" Never let the past hold the future to ransom "
  • #2,752
  • Sep 23, 2009 11:03am Sep 23, 2009 11:03am
I started to code an EA for the 60-15-5. It is far from done yet, but I have entry signals already running. Today was a sideways market for most currency pairs. The only one that gave me valid signals was USDJPY all the others just stayed out of the market.

http://mt4.pl/images/usdjpyea.gif

The first signal was valid if I didn't consider the monthly and weekly pivots.
This was also the best signal. I've alerady asked this question, but I got no answer. Should I consider all the pivots (daily, weekly, monthly and the S/R levels)?

I want to congratulate the creator of this strategy as it is the best one I've seen so far. Most other systems gave a lot of false signals today.
NiX - click my profile & visit my website
  • #2,753
  • Edited 11:26am Sep 23, 2009 11:11am | Edited 11:26am
Quoting nix
I've alerady asked this question, but I got no answer. Should I consider all the pivots (daily, weekly, monthly and the S/R levels)?
General answer is yes - when trading, we have to consider all pivots. But that does not mean that we can never take trades near pivots. There are market conditions and situations where pivots can be ignored. This is called 'traders discretion' and I cannot imagine how it can be programmed into EA...

BTW: I see that the entry arrows on your chart do not match with valid signals...
There seems to be a perfect signal at 10:00 or even 9:30 but your arrow is some 30-60 minutes later.
  • #2,754
  • Sep 23, 2009 11:39am Sep 23, 2009 11:39am
Quoting Indrek
There seems to be a perfect signal at 10:00 or even 9:30 but your arrow is some 30-60 minutes later.
This is the perfect signal I was talking about.
Attached Image (click to enlarge)
Click to Enlarge Name: uy.gif Size: 41 KB
  • #2,755
  • Sep 23, 2009 12:18pm Sep 23, 2009 12:18pm
[quote=Indrek;3086959]General answer is yes - when trading, we have to consider all pivots. But that does not mean that we can never take trades near pivots. There are market conditions and situations where pivots can be ignored. This is called 'traders discretion' and I cannot imagine how it can be programmed into EA...

Attached is EURJPY 30M chart with just the monthly pivot.
I certainly would like to know where the pivot is when I trade this pair.
Trading is not an exact science, a lot of traders don`t bother with pivots, it suppose it is a personal choice how you pick your entry and exit points and manage your trades.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_03 Sep. 23 21.11.gif Size: 26 KB
" Never let the past hold the future to ransom "
  • #2,756
  • Sep 23, 2009 12:24pm Sep 23, 2009 12:24pm
Weekly pivot GBPJPY
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_04 Sep. 23 21.22.gif Size: 28 KB
" Never let the past hold the future to ransom "
  • #2,757
  • Sep 23, 2009 12:30pm Sep 23, 2009 12:30pm
Quoting Gleneagles
Weekly pivot GBPJPY
This is today's ranging between two pivots
Attached Image (click to enlarge)
Click to Enlarge Name: pivot.gif Size: 44 KB
  • #2,758
  • Sep 23, 2009 1:03pm Sep 23, 2009 1:03pm
I just figured out that this Indi gives signals when the candle goes across
the high & low of the 8 EMA.

Hmmm....

See the attached.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 35 KB
Attached Images
I trade what I see on my charts. Do Not listen to the Muppets.
  • #2,759
  • Edited Sep 24, 2009 12:17am Sep 23, 2009 1:20pm | Edited Sep 24, 2009 12:17am
Quoting Vanhook2
I just figured out that this Indi gives signals when the candle goes across
the high & low of the 8 EMA.

Hmmm....

See the attached.
I use a modified version of Scalper Signals where MA can be absolutely eliminated. Made by Royston.

In the original one you can practically eliminate the influence of MA by setting its period to 4 or 6.

And there cannot be any high or low of MA as MA is just a line The setting goes for what price is used to calculate the MA. Either high of the candle, low of the candle, open of the candle etc
  • #2,760
  • Edited 1:49pm Sep 23, 2009 1:34pm | Edited 1:49pm
Quoting Indrek
This is the perfect signal I was talking about.
This signal was not taken, because it has been within 10 pips from pivots (daily monthly and weekly) and xATR was red (the EA is sticking to the system's rules).
In retrospect I would have taken that signal too.
NiX - click my profile & visit my website
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