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MTF Trix system

  • #3,101
  • Oct 4, 2009 4:37pm Oct 4, 2009 4:37pm
Quoting Merlyn
I think the point was that if everyone uses the same broker for charting then the price movements will produce the same patterns and signals for everyone.
Hi:
Exactly my point, easier to learn if we're all looking at the same blackboard for the lesson,

Jim
  • #3,102
  • Oct 4, 2009 4:46pm Oct 4, 2009 4:46pm
i've trying to get into the autopivots file via metatrader editor so that i can change the line colors, but a blank file page for autopivots keeps coming up with no coding for amending, can anyone point me in the right direction,

thanks
  • #3,103
  • Oct 4, 2009 4:59pm Oct 4, 2009 4:59pm
Quoting PeterE
i've trying to get into the autopivots file via metatrader editor so that i can change the line colors, but a blank file page for autopivots keeps coming up with no coding for amending, can anyone point me in the right direction,

thanks
Do you have the .ex4 or .mq4 version? You can't change compiled code.
How do you make a small fortune in Forex? Start with a large one!
  • #3,104
  • Oct 4, 2009 5:05pm Oct 4, 2009 5:05pm
ex4


Quoting paidperpip
Do you have the .ex4 or .mq4 version? You can't change compiled code.
  • #3,105
  • Oct 4, 2009 8:16pm Oct 4, 2009 8:16pm
just aiming at small targets as i begin my Trix journey

+30
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  • #3,106
  • Oct 4, 2009 11:55pm Oct 4, 2009 11:55pm
Quoting Indrek
Could you explain this entry to us. It seems to me that you often enter before a retracement not after What are the main conditions for you to enter?



GBPJPY

Hi there Indrek. Just did some reading of the thread to start the week. Hope you had a good weekend.

Regarding the GBPJPY trade, the first recent occasion where the red blocks lined up was at 08.00GMT (first green line). True to the rules I waited for the M5 Trix to do its retracement which it did from 08.00GMT to 09.15GMT.

After the retracement by the M5 Trix the next lineup of the red blocks was at 09.30GMT (second green line). At this point I posed the question to myself - do I wait for another retracement of the M5 Trix to be in line strictly with the rules or do I do a trade straightaway?

To do, or not to do, that is the question (thanks to Shakespeare, Hamlet)

I then analysed the situation over and beyond the strictly Trix system :

1. With a quick look at the Fractals/Support Resistance dotted lines to get a picture of the ebb and flow of price I concluded that it was in a strong downward move. The last 2 fractals were almost at the same flat level signifying weakness.

2. The fibonacci retracement of the highest fractal of the day to the recent significant fractal did not even reach 50% level, another sign of weakness.

3. The distance from the previous bar (09.25GMT) low at 141.90 to the Pivot Support S1 at 141.56 was only 34, not enough to reach my TP2 of 35 and TP3 of 50. If I waited for a retracement and then the down move this distance might be knocked down even further making the taking of a trade highly risky and probably even resulting in a loss.

4. It was a choice between two alternatives. Either do a trade now and suffer the pain of retracement or do the trade later after the retracement and suffer the pain of a possible loss. Choices, choices.

5. So there I was left with the all important question.
Question - To do, or not to do, that is the question.
Back came the answer - Do. Now.

And then get ready to write an explanation!!!

Moral of the story.
Under ordinary circumstance - wait for retracement
Under extraordinary circumstances - do not wait for retracement
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  • #3,107
  • Oct 5, 2009 12:06am Oct 5, 2009 12:06am
Quoting Trader7
GBPJPY

Hi there Indrek. Just did some reading of the thread to start the week. Hope you had a good weekend.

Regarding the GBPJPY trade, the first recent occasion where the red blocks lined up was at 08.00GMT (first green line). True to the rules I waited for the M5 Trix to do its retracement which it did from 08.00GMT to 09.15GMT.

After the retracement by the M5 Trix the next lineup of the red blocks was at 09.30GMT (second green line). At this point I posed the question to myself - do I wait for another retracement of the M5 Trix to be in line...
Wow, very nice explanation

There is always the same question before a trader than was before Hamlet:
To suffer the slings and arrows of outrageous fortune or to take arms against the sea of troubles and by opposing end them.
Hamlet would not be a good trader, I guess.
  • #3,108
  • Oct 5, 2009 12:25am Oct 5, 2009 12:25am
Quoting Indrek
Your GU was the same trade that I took, with the only difference that you entered before the retracement when price clearly moved to the opposite direction... Would like to understand your logics


GBPUSD

Indrek regarding the GBPUSD the first recent occasion where the red blocks lined up was at 07.00GMT. True to the rules I waited for the M5 Trix to do its retracement. But instead of retracing it broke the significant Fractal/Support (05.10GMT) at 1.5895 together with the most recent Fractal/Support.

I waited to see what would happen next. Price went up over the next 2 bars very unconvincingly still hanging around the support level and then it started sliding down again below the immediate Fractal/Support.

It was time to make a decision as to whether to trade now or later.
Question - To do, or not to do, that is the question.
Answer - Do. Now.

And that is how I got into that trade.


As to the second trade (09.30GMT) the Pivot S1 was getting too close for comfort and somewhat similar reasoning as in the case of the GBPJPY trade in my previous post applied here. The price as you can see was stuck at Support S1 for quite some time. That is why I respect Support and Resistace levels so much. Trading is all about Support and Resistance. If you treat them with respect they will be kind to you!!!
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  • #3,109
  • Oct 5, 2009 2:02am Oct 5, 2009 2:02am
Quoting Trader7
GBPUSD

Indrek regarding the GBPUSD the first recent occasion where the red blocks lined up was at 07.00GMT. True to the rules I waited for the M5 Trix to do its retracement. But instead of retracing it broke the significant Fractal/Support (05.10GMT) at 1.5895 together with the most recent Fractal/Support.

I waited to see what would happen next. Price went up over the next 2 bars very unconvincingly still hanging around the support level and then it started sliding down again below the immediate Fractal/Support.

It was time to make a decision...
G'day Trader7
So you dont normally worry about the rule of waiting for the price to go a few pips under signal candle before entering? No critcism intended---your results speak for themselves.
Cheers
We are all One. Be present. Be the Observer
  • #3,110
  • Oct 5, 2009 2:05am Oct 5, 2009 2:05am
Quoting PeterE
are you scaling in/out here, or are these 3 separate trix signals?

thanks

I enter 3 lots and then the EA Update Stops takes care of the exits.
  • #3,111
  • Oct 5, 2009 6:18am Oct 5, 2009 6:18am
support at 38.2 fib 1.5925,
or hold for 1.59010??
  • #3,112
  • Oct 5, 2009 6:20am Oct 5, 2009 6:20am
EU's moving dn, i'll hold

Quoting PeterE
support at 38.2 fib 1.5925,
or hold for 1.59010??
  • #3,113
  • Edited 8:35am Oct 5, 2009 6:32am | Edited 8:35am
Quoting Trader7
Trading is all about Support and Resistance. If you treat them with respect they will be kind to you!!!
You are absolutely right and here is a good proof.
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  • #3,114
  • Oct 5, 2009 7:06am Oct 5, 2009 7:06am
dn to 1.5900??

just got to get through that 38.2 . . . its one worthy of respect


Quoting PeterE
EU's moving dn, i'll hold
  • #3,115
  • Oct 5, 2009 8:06am Oct 5, 2009 8:06am
happy to close the position and go to bed
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  • #3,116
  • Oct 5, 2009 9:47am Oct 5, 2009 9:47am
Today EU was lazy.

EU=60,15,5 TP 20pips.

At the signal bar, I saw PA got a resistance at pivot level so took a trade. And set SL on the other side of that level.TP was set at next 00 level. Luckily PA shows it's a correct decision. Though pivot level was tested several times and cost quite a long time.

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  • #3,117
  • Edited 10:37am Oct 5, 2009 10:24am | Edited 10:37am
Quoting Wakayama
Today EU was lazy.
IMHO, the U.S. session so far has been that way.
I trade what I see on my charts. Do Not listen to the Muppets.
  • #3,118
  • Oct 5, 2009 10:36am Oct 5, 2009 10:36am
Quoting Vanhook2
IMHO, the U.S. session so far far has been that way.
oh, yeah. Just compared with GU's moving today
  • #3,119
  • Edited 9:42pm Oct 5, 2009 9:28pm | Edited 9:42pm
what does Glen and others do in this situation??


1] short at 89.36?
2] short at 89.43?
3] dont take the trade?


1] if you follow the 2 pip rule for this trade your entry is 5 pips from "daily s1" at 89.36 (navy horizontal), a bit tight for my liking

2] assuming all probabilities are aligning for a short,
plus there is good/tested support (now resistance?) at fib 38.2 (light grey),
plus weekly pivot (pastel blue)= potential resistance,
would you short at 89.43 (light grey fib)?

i have my own view, what's yours?
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  • #3,120
  • Oct 5, 2009 9:56pm Oct 5, 2009 9:56pm
Quoting bigjim1958
Hi Folks:
I've been following this thread for a while and want to thank everyone especially Indrek and Glen. Could you tell us what broker you are using for your charts? It might make it easier on people if they were looking at the same charts as you. Thanks for all that you have contributed.

Jim
Hi folks:
Not to be pushy, but I was wondering if Glen or Indrek would be willing to respond to the above post, I think it might help a lot of people. Thanks for your time.

Jim
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