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MTF Trix system

  • #2,981
  • Sep 29, 2009 12:56pm Sep 29, 2009 12:56pm
Quoting Indrek
Yes, I found your entry spot. Daily range was practically exhausted at that point.
Your entry price was around 1.5980? In this case, you had sth like 30-40 pips to the top of usual ADR. That should tell you that there can be a turnaround near daily R1.
Remember that pivots are, in fact, not just lines but zones. If price breaks a pivot for some pips, it does not always mean that pivot has been broken and price continues to the previous direction.
Thanks for your comments.
How do you read the daily ADR?
  • #2,982
  • Sep 29, 2009 12:57pm Sep 29, 2009 12:57pm
Quoting don_choa
Thanks for your comments.
How do you read the daily ADR?
From the lowest price to the highest or vice versa

I noticed that you have xADR indicator on your initial chart (the messy one). So, you even do not have to read it, just look at what the indicator says.
  • #2,983
  • Sep 29, 2009 2:14pm Sep 29, 2009 2:14pm
Quoting don_choa
Well , when I entered, it wasn't a top...
This might help you also


http://www.forexfactory.com/showpost...ostcount=12831
Attached Image (click to enlarge)
Click to Enlarge Name: GU.JPG Size: 153 KB
I trade what I see on my charts. Do Not listen to the Muppets.
  • #2,984
  • Sep 29, 2009 4:42pm Sep 29, 2009 4:42pm
Quoting Vanhook2
This might help you also


http://www.forexfactory.com/showpost...ostcount=12831
Thanks Vanhook,
Your chart looks very good.
Thanks for the indi, much appreciated.
  • #2,985
  • Sep 29, 2009 4:42pm Sep 29, 2009 4:42pm
I have been trading similar strategy before using the Trix meter. I used the old fashion indicators: MACD and Bollinger Bands. But with the Trix meter, it help confirming my entrance. I don't enter the same way as you guys do. I enter when a candle really breaks the current resistanca/support level.
Look at the chart below. I entered when the candle breaks the resistance level and Bollinger Bands opens out. Plus MACD main>signal and -0.05<main<0.05. I hope this will enlighten some of you. So having the Trix meter is a bonus to my trading style. Plus the idea of entering 3 orders at the same entrance is also a good strategy.
Attached Image (click to enlarge)
Click to Enlarge Name: gpbjpy01.jpg Size: 308 KB
  • #2,986
  • Sep 29, 2009 5:02pm Sep 29, 2009 5:02pm
Quoting Vanhook2
This might help you also


http://www.forexfactory.com/showpost...ostcount=12831
Do you use trix MTF Roy indi? I can't seem to convince myself it's useful.
Thanks
  • #2,987
  • Sep 29, 2009 5:38pm Sep 29, 2009 5:38pm
Quoting don_choa
Thanks Vanhook,
Your chart looks very good.
Thanks for the indi, much appreciated.
don_choa I have found that the less indicators I have the better it is.
The more you stick to the basic system the better.
When Glen introduced the block system, the light went on in my head
http://www.forexfactory.com/showpost...postcount=2304

) Find THREE BLOCKS of the SAME COLOR.
2) The THREE BLOCKS must line up vertically.
3) Draw a Vertical line on the chart where the blocks line up.
4) Look at the candle on the left of the vertical line.
5) Draw a horizontal line through the high/low of the candle.
6) Your entry point is 2 pips above the high for a long trade.
7) Your entry point is 2 pips below the low for a short trade.

add to this.....xADR indicator green, make sure there is room for the trade to move, make sure you are not trading into a pivot point or a round number......make sure you are not trading around red flag news..and it is as simple as that.

When I kept it that simple......I did about 15 successful trades in a row

I am still learning and I still sometimes make mistakes....but when I do....it is usually because I forgot one of the rules

my preference is Trix MTF meter roy 05 showing confirmed signals.

we become addicted to more and more indicators.....however we have a choice do we want to learn a system and make money, or do we want to keep on adding indicators.

I am saying this to you, to remind myself.

Best wishes

PGPB
  • #2,988
  • Edited 1:27am Sep 30, 2009 1:07am | Edited 1:27am
Guys,

Sorry, maybe too much version of my indy already out there. This one was made for my own purpose, but there might be anybody who will find it useful too.

Basically just like the other indy, but this one stick to 5-15-60 (that's the one I'm trying to familiarize now, and never gain any profit though )

Anyway, in this version, when the email option is turn on, it will send email with message of alert as subject, and in the body it will tell about the condition of the indicator for the last 2 hours, and the last 2 candles close and the last 2 candles high.

I did this in hope, when I'm not in front of computer (my ocupation make me have to do this), I can still have a rough picture of what's going on.

it is something like:
5 mins: |L|L|L|L|S|S|S| ...
15 mins: |L|L|L|S|S|S| ...
Hourly: |L|L|L|S|S|...

Last 2 bars high: 1.xxx | 1.xxx
last 2 bars close: 1.xxx | 1.xxx

Regs,

ps. Indrek, I dare you to create 30-60 version and 240-15-5 version. Be warn though that this time it became more complicated (the code)
Attached File(s)
File Type: zip mtf signal 51560.zip   6 KB | 657 downloads
  • #2,989
  • Sep 30, 2009 1:29am Sep 30, 2009 1:29am
Quoting pipstroll
Guys,

Sorry, maybe too much version of my indy already out there. This one was made for my own purpose, but there might be anybody who will find it useful too.

Basically just like the other indy, but this one stick to 5-15-60 (that's the one I'm trying to familiarize now, and never gain any profit though )

Anyway, in this version, when the email option is turn on, it will send email with message of alert as subject, and in the body it will tell about the condition of the indicator for the last 2 hours, and the last 2 candles close and the...
I am not a coder, so I would prefer not to do it... What is wrong with the last one you posted? The one where M5 can be turned off? I attached it to my chart and it works, I guess.
  • #2,990
  • Sep 30, 2009 1:43am Sep 30, 2009 1:43am
60 15 5

TP1 +25

Stop at BE.

Weekly pivot providing some stiff resistance.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_01 Sep. 30 08.39.gif Size: 15 KB
" Never let the past hold the future to ransom "
  • #2,991
  • Sep 30, 2009 1:51am Sep 30, 2009 1:51am
Quoting Indrek
I am not a coder, so I would prefer not to do it... What is wrong with the last one you posted? The one where M5 can be turned off? I attached it to my chart and it works, I guess.
Yeah, that one work. the lastest version that I upload has the ability to visualize graph into text, so we can have rough idea about the market. This one is for my own purposes. No use if you don't like the idea of sending email

I prefer to do the trade via smartphone, because the nature of what I do for living, and I cannot attach any custom indicator, that's why I need the email to guide me.

As with not working, it's not the indy not working. It's more likely me. I dunno, but everytime I get into position, the market always went against me.

Still patienly waiting. Lost real 10 dollars so far

Regs,
  • #2,992
  • Sep 30, 2009 1:53am Sep 30, 2009 1:53am
60 15 5

TP1 +25
TP2 +35

Will set up TS at 25 now for the remainder.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_02 Sep. 30 08.51.gif Size: 14 KB
" Never let the past hold the future to ransom "
  • #2,993
  • Sep 30, 2009 2:06am Sep 30, 2009 2:06am
Quoting pipstroll
Yeah, that one work. the lastest version that I upload has the ability to visualize graph into text, so we can have rough idea about the market. This one is for my own purposes. No use if you don't like the idea of sending email

I prefer to do the trade via smartphone, because the nature of what I do for living, and I cannot attach any custom indicator, that's why I need the email to guide me.

As with not working, it's not the indy not working. It's more likely me. I dunno, but everytime I get into position, the market always went against me....
No, I do not need the e-mail function. I am also quite mobile in my everyday doings but when I am away from my home office then I just do not trade.
  • #2,994
  • Sep 30, 2009 2:20am Sep 30, 2009 2:20am
Quoting Indrek
No, I do not need the e-mail function. I am also quite mobile in my everyday doings but when I am away from my home office then I just do not trade.
I couldnt be more agree with you.

Then let's just said this is my secret weapon for my dream. I can still doing trade while travelling, when I'm retired later on

Regs,
  • #2,995
  • Sep 30, 2009 2:29am Sep 30, 2009 2:29am
Quoting pipstroll
I couldnt be more agree with you.

Then let's just said this is my secret weapon for my dream. I can still doing trade while travelling, when I'm retired later on

Regs,
As an elderly person I am quite careful and I cannot imagine trading that is based on such e-mail signals without seeing full charts...

But there is always the possibility to take a laptop with you, so you can trade in the ordinary way. If you are not travelling in some desert, of course, without no wifi or mobile internet available.
  • #2,996
  • Sep 30, 2009 2:41am Sep 30, 2009 2:41am
Quoting Indrek
As an elder person I am quite careful and I cannot imagine trading that is based on such e-mail signals without seeing full charts...

But there is always the possibility to take a laptop with you, so you can trade in the ordinary way. If you are not travelling in some desert, of course, without no wifi or mobile internet available.
But, my occupation insist me to visualize model from text. It wasn't so hard for me. You cannot operate your laptop in a bus for example. But you can fiddle with your mobile phone almost anywhere, even (sorry) in a toilet.

Anyway, this has been out of topic. Beside, i created that version for my own purpose, and as gleneagles always said, it's your own money that you play with. I guess everybody has their own way.

Regs,
  • #2,997
  • Sep 30, 2009 2:46am Sep 30, 2009 2:46am
Was late with the entry by ~10 pips.
Another mistake: should set TP2 right before pivot, not after.
Attached Image (click to enlarge)
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  • #2,998
  • Sep 30, 2009 2:56am Sep 30, 2009 2:56am
240M

Attached screenshot shows the value of the last price swings on 240M chart.

1290 pips in approximately 10 days.

You can do the same exercise for GBPJPY over the same period and figure out for yourself how many trading opportunities and how many pips were on offer. Not only for 240 15 5 but also 60 15 5 as well as 30 5.

I see a lot of whinging about the system, the MTF indicator/s, all sorts of indicator added, filters added etc

There is NO substitute for basic trading discipline and sticking to a trading plan.
The plan may seem too simple because trading is a tough business and requires a very complicated plan?

A lot of traders don`t even make an effort to read the manual or try to at least gain the basic knowledge needed for trading.

I am afraid that the best advice I can give you is to be honest with yourself and then make a decision whether you have the commitment and focus to be a successful trader.

I suspect that there may be a few traders that actually tried the method and some may be trading it on their own. If you find that it works for you...great..if not..also OK. It is your money and your risk.


It is time for me to take a break from posting trades on the thread, how difficult is it to line up 2 or 3 blocks of the same color, use a simple checklist and make a trading decision?
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_06 Sep. 30 09.27.gif Size: 21 KB
" Never let the past hold the future to ransom "
  • #2,999
  • Sep 30, 2009 3:17am Sep 30, 2009 3:17am
Quoting Gleneagles
240M

.....A lot of traders don`t even make an effort to read the manual or try to at least gain the basic knowledge needed for trading.

I am afraid that the best advice I can give you is to be honest with yourself and then make a decision whether you have the commitment and focus to be a successful trader.

I suspect that there may be a few traders that actually tried the method and some may be trading it on their own. If you find that it works for you...great..if not..also OK. It is your money and your risk.


It...
Hi Gleneagles,
Actually, it can be surprisingly difficult to line up 2 or 3 blocks and use a simple checklist - for somebody with poor discipline and a short attention span.
However, someone like that will probably never be able to trade in your style long term - no matter how many charts you post and questions you answer.

Thanks for all your insightful posts, and have a good rest from posting.

Ian
  • #3,000
  • Sep 30, 2009 3:45am Sep 30, 2009 3:45am
Quoting ianf0ster
Hi Gleneagles,
Actually, it can be surprisingly difficult to line up 2 or 3 blocks and use a simple checklist - for somebody with poor discipline and a short attention span.
However, someone like that will probably never be able to trade in your style long term - no matter how many charts you post and questions you answer.

Thanks for all your insightful posts, and have a good rest from posting.

Ian
I agree with that. I feel i'm of poor dicipline and cannot focus attention for a long time. Therefore I create the indy to help me with my issue number 2. And for number one, i'm trying to diciplined myself. That's why I said patiently waiting (for me to become more and more diciplined and instropect).

GLEN:
Thank you for all your input. As birlings, in the end, wether we like it or not, we have to fly on our own. Or else we won't survive.

Regs,
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