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MTF Trix system

  • #2,921
  • Sep 28, 2009 2:14pm Sep 28, 2009 2:14pm
Here you go, guys.

In this version, you can freely enable the timeframe you wish.

If you want to go with 2 setup, please rename the indy. I've added visual at the top left corner, so you know your choice.

Try it first. Dont trust it blindly, because i don't. lol

Regs,
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File Type: zip MTF Signal Custom.zip   6 KB | 555 downloads
  • #2,922
  • Sep 28, 2009 2:20pm Sep 28, 2009 2:20pm
Quoting Gleneagles
...trades. The correct way to trade it is to use hedging on the smaller TF`s to subsidize stops and drawdowns on the bigger TF`s...
Can you give some example of the method? Because you were not agree to hedging?

Regs,
  • #2,923
  • Sep 28, 2009 2:25pm Sep 28, 2009 2:25pm
Quoting pipstroll
Can you give some example of the method? Because you were not agree to hedging?

Regs,
I think, what Glen meant is that if you trade 240,15,5 and it turns against you then you must take available 30,5 or 60,15,5 trades to the opposite direction not just wait for your SL to be hit
  • #2,924
  • Sep 28, 2009 2:34pm Sep 28, 2009 2:34pm
Quoting Indrek
I am not sure if a professional trader calculates his incomes like this.
Percentage of account shows sth if you have a very small account (under 10 000 USD). But when your account grows then you probably start withdrawing sums from it, you trade different systems and you most probably do not use 100 % of your account size in everyday trading.
Achieving 30 % per month permanently would mean that in 3 years your account of 2000 USD (that is a good size to start with, I guess) will grow to almost 20 million USD. Have you met many people who have achieved...
Assuming that you use a relatively conservative MM approach of 2-2.5% risk/trade.

120 pips/month = 6% return/month, compounding $1=$2 after 12 months
200 pips/month = 10% " " " $1=$3 after 12 months
650 pips/month = 30% " " " $1=$23 after 12 months

Approximate values only.
" Never let the past hold the future to ransom "
  • #2,925
  • Sep 28, 2009 2:36pm Sep 28, 2009 2:36pm
Quoting Indrek
I think, what Glen meant is that if you trade 240,15,5 and it turns against you then you must take available 30,5 or 60,15,5 trades to the opposite direction not just wait for your SL to be hit
Ok, I got it. Thank you for the explanation.

Regs,
  • #2,926
  • Sep 28, 2009 2:50pm Sep 28, 2009 2:50pm
Quoting Indrek
I think, what Glen meant is that if you trade 240,15,5 and it turns against you then you must take available 30,5 or 60,15,5 trades to the opposite direction not just wait for your SL to be hit
That is the correct way to do it if you trade longer TF`s.
I still have 70% of the positions open on GBPJPY short, today there were 3 trading opportunities long for 30-50 pips each. Each retrace against the trade can potentially be profitable.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_01 Sep. 28 21.38.gif Size: 32 KB
" Never let the past hold the future to ransom "
  • #2,927
  • Sep 28, 2009 3:11pm Sep 28, 2009 3:11pm
Quoting pipstroll
Here you go, guys.

In this version, you can freely enable the timeframe you wish.

If you want to go with 2 setup, please rename the indy. I've added visual at the top left corner, so you know your choice.

Try it first. Dont trust it blindly, because i don't. lol

Regs,
Pipstroll

thanks tons for creating this indicator.

I just installed the custom one, I like being able to change the alerts.
I notice there is an option for 15,30,60,240 and 1440
Should there not also be one for the 5 time frame?

thanks again!

PGPB
  • #2,928
  • Sep 28, 2009 3:23pm Sep 28, 2009 3:23pm
Quoting Iamfx
Quote Gleneagles “ 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.
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.”
Seems to me that Glen is making that amount. I do realise that not everybody can trade like...
I trade a few accounts using different systems to spread the risk and to diversify my trading.
Setting a target that is unrealistic and not achievable is a sure way to put a lot of pressure on yourself as a trader.
Most traders set themselves a daily/weekly target or even worse a target by trade. If they don`t achieve it, they try to make it up with the next trade. By forcing trades or " inventing " trades the situation just spirals out of control.

If you plan to trade for a living or manage your own investments, you have to take into account that with the potential for a very high yield on your investment comes a very high risk. Even with a tried and trusted trading system, you can crash out. Look at the drawdowns some of the 100%/month trading accounts suffer. How many were wiped out in the past?

I have said before that it is better to be consistently average than occasionally brilliant. How many of the "100%/month club" will be around in 5 years time...or 6 months from now?
" Never let the past hold the future to ransom "
  • #2,929
  • Sep 28, 2009 5:07pm Sep 28, 2009 5:07pm
[quote=Gleneagles;3099813]
Quoting studbiol
Hi Glen,

phantastic results I have a few questions. Am I right

you trade TF M60?
the arrows in your chart show M60 signals?
you confirm with MTF Trix M240?
wouldn't it be good to have MTF Trix D1 on the chart too?
you do not have M5 signals on your chat?
your trade stays open during more than 24 hours .. even over weekend?
how do you fix TPs and SL (I've seen you use THV Cavemanager ... what are your settings?)?
is this the next level of MTF-trading?

I trade 60 15 5 as a standalone not with 240 confirmation....
Thank you for your kind answer. I prefer the 60,15,5 system as it gives more security to me. I don't like to have open trades during night or weekend ... already the idea makes me sleep very bad.

I'm still learning to trade the basic 60,15,5 system on demo account. Any further ideas may be even very good but I think that the main difference between a successful trader and a unsuccessful trader is patience. Unsuccessful traders turn into successful traders when they stop looking for the next "great" technical indicator and the next “great” trading system. I hope that I will become a successful trader some day.
If there are pips you can collect - just do it!
  • #2,930
  • Sep 28, 2009 5:29pm Sep 28, 2009 5:29pm
HI all, I cant seem to get the MTF trix to load on to my chart, I have read a lot of the early pages on this thread, and have not found any info that would help me, can some one offer advice, or perhaps post the most up to date trix so I can try again, 60,15,5

Rebel
  • #2,931
  • Sep 28, 2009 5:47pm Sep 28, 2009 5:47pm
Quoting rebelheart
HI all, I cant seem to get the MTF trix to load on to my chart, I have read a lot of the early pages on this thread, and have not found any info that would help me, can some one offer advice, or perhaps post the most up to date trix so I can try again, 60,15,5

Rebel
Have you read page 4 of the manual.
I am certain the solution to your difficulties on on page 4

I could tell you specifically, but you will get a feeling of accomplishment if you figure out for yourself.

If you still can not solve the problem, post again.

Although perhaps some of the other participants of this thread will be more helpful than I.

Best wishes

PGPB
  • #2,932
  • Sep 28, 2009 5:50pm Sep 28, 2009 5:50pm
Quoting rebelheart
HI all, I cant seem to get the MTF trix to load on to my chart, I have read a lot of the early pages on this thread, and have not found any info that would help me, can some one offer advice, or perhaps post the most up to date trix so I can try again, 60,15,5

Rebel
Perhaps it will solve that problem ... look here http://www.forexfactory.com/showpost...postcount=2829

and may be here too http://www.forexfactory.com/showpost...postcount=2571

I hope it is useful.

Regards.
If there are pips you can collect - just do it!
  • #2,933
  • Sep 28, 2009 7:22pm Sep 28, 2009 7:22pm
EURJPY 60 15 5

+20 +19

placed pending trade about 7 pips above the resistance (blue dotted line)



I also have created what I call a long range view where I look at an hourly chart with a 60 trix and 240 trix, see second image

I have been looking at the hourly, to get the feel for where the market looks like it is going, and then I use 60 15 5 to time the enry
Attached Images
  • #2,934
  • Sep 28, 2009 7:45pm Sep 28, 2009 7:45pm
Hi PGPB
I noticed from your chart that you are using quiktrailig to manage your trade. I could not get any of the those ea to work. i do not know what I am doing wrong. Could you please put a snapshot of the setting of this ea
Thanks
  • #2,935
  • Sep 28, 2009 8:32pm Sep 28, 2009 8:32pm
Quoting harar
Hi PGPB
I noticed from your chart that you are using quiktrailig to manage your trade. I could not get any of the those ea to work. i do not know what I am doing wrong. Could you please put a snapshot of the setting of this ea
Thanks
Sure....however I would ask Indrek to do the same, he is much more familiar with this EA

I am also giving some thought to my TP and stops.....so these setting are a work in progress
Attached Image
  • #2,936
  • Sep 28, 2009 9:58pm Sep 28, 2009 9:58pm
I have a question with entering 3 times if anyone can give me a hint to this dilemma. After the first candle break (higher high) or (lower low), it is said in the pdf to put in 3 orders at +2 pips after the closed of the first candle break. Do you use Buy Limit or Sell Stop orders, or just enter 3 times after the first candle break? Because when the momentum is high after the first candle break closed, there's no time to put in Buy Limit or Sell stop 3 times.
  • #2,937
  • Sep 28, 2009 10:48pm Sep 28, 2009 10:48pm
Quoting ForexHunter
I have a question with entering 3 times if anyone can give me a hint to this dilemma. After the first candle break (higher high) or (lower low), it is said in the pdf to put in 3 orders at +2 pips after the closed of the first candle break. Do you use Buy Limit or Sell Stop orders, or just enter 3 times after the first candle break? Because when the momentum is high after the first candle break closed, there's no time to put in Buy Limit or Sell stop 3 times.
I'm not sure which bit of manual you are referring to but quote1 refers to scaling out and quote 2 refers to reentering after retracements
If you use Updatestops ea or the other one you can hit buy or sell with a market order when time is right and the ea will manage your trade automatically in 2 or three parts

QUOTE FROM MANUAL The trades are split into 3-4 parts with the view to scale out of the trade as the trade progresses in
the trader’s favour.

QUOTE FROM MANUAL Hint 2: The first time the trend changes is the better timing to trade when M5 confirm. ie. start of
new trend change. Re-enter 2-3 only after first trend change is recommended. Why? Stacks highest
probability, lowest risk trades are the entries close to, or at the trend change. This is while the trend is
strongest.
Hope this helps
We are all One. Be present. Be the Observer
  • #2,938
  • Sep 28, 2009 11:05pm Sep 28, 2009 11:05pm
Quoting ForexHunter
I have a question with entering 3 times if anyone can give me a hint to this dilemma. After the first candle break (higher high) or (lower low), it is said in the pdf to put in 3 orders at +2 pips after the closed of the first candle break. Do you use Buy Limit or Sell Stop orders, or just enter 3 times after the first candle break? Because when the momentum is high after the first candle break closed, there's no time to put in Buy Limit or Sell stop 3 times.
You do not need to mess with scaling out until you are comfortable with the system itself. Setting more than one target per trade is not an initial part of the system, it is just one possible trading style.

And there is certainly no reason to enter three times at the same place.

Try to become comfortable with entries and exits, then you can make things more complicated after some weeks or even months of trading.
  • #2,939
  • Sep 28, 2009 11:11pm Sep 28, 2009 11:11pm
Quoting Gleneagles
I trade a few accounts using different systems to spread the risk and to diversify my trading.
Setting a target that is unrealistic and not achievable is a sure way to put a lot of pressure on yourself as a trader.
Most traders set themselves a daily/weekly target or even worse a target by trade. If they don`t achieve it, they try to make it up with the next trade. By forcing trades or " inventing " trades the situation just spirals out of control.

If you plan to trade for a living or manage your own investments, you have to take into account...
The formula High Risk = High Return is one that I have found is hard to beat but optomism is a good thing for a trader.
I know a very good trader that would start with a $500 account and when it doubled he would remove $500 and repeat. He missed out on compounding but only risked the $500-- a very safe way to trade.
Cheers
We are all One. Be present. Be the Observer
  • #2,940
  • Sep 29, 2009 12:16am Sep 29, 2009 12:16am
Quoting harar
Hi PGPB
I noticed from your chart that you are using quiktrailig to manage your trade. I could not get any of the those ea to work. i do not know what I am doing wrong. Could you please put a snapshot of the setting of this ea
Thanks
If you cannot get any EA to work then you probably have to adjust your MT4 settings. Or is it only QT that is not working?
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