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MTF Trix system

  • #3,161
  • Oct 7, 2009 2:07am Oct 7, 2009 2:07am
+500 Pips
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" Never let the past hold the future to ransom "
  • #3,162
  • Oct 7, 2009 2:08am Oct 7, 2009 2:08am
Quoting Trader7
GBPJPY

60 15 5

Results : -45 -45 -45 = (-)135
I agree that losing is a natural part of trading but this loss was avoidable with obeying the rules
  • #3,163
  • Oct 7, 2009 2:12am Oct 7, 2009 2:12am
nice trades

@Gleneagles & Trader7: Whats your typical stopps ?

Thanks
  • #3,164
  • Oct 7, 2009 2:12am Oct 7, 2009 2:12am
EURJPY 60-15-5 +20
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  • #3,165
  • Oct 7, 2009 2:17am Oct 7, 2009 2:17am
Quoting Gleneagles
+540 Pips


Hi there Glen

It is good to see you back here again. There is still so much to learn from you especially the 240 time frame.
  • #3,166
  • Oct 7, 2009 2:30am Oct 7, 2009 2:30am
Quoting Indrek
I agree that losing is a natural part of trading but this loss was avoidable with obeying the rules

Indrek, details please. I need to learn to avoid such paingivers in the future.
  • #3,167
  • Oct 7, 2009 2:30am Oct 7, 2009 2:30am
Quoting Gleneagles
+500 Pips
Hi Glen, glad to see you again.

Would you please tell me the Trix setting of your 240m TF ? I think it could be very helpful to identify the trend in higher TF.
  • #3,168
  • Oct 7, 2009 2:48am Oct 7, 2009 2:48am
Quoting Wakayama
Hi Glen, glad to see you again.

Would you please tell me the Trix setting of your 240m TF ? I think it could be very helpful to identify the trend in higher TF.

I took it straight from the manual....setting 3
I use setting 2 as an early warning but it is optional.
" Never let the past hold the future to ransom "
  • #3,169
  • Oct 7, 2009 2:52am Oct 7, 2009 2:52am
Quoting Trader7
Indrek, details please. I need to learn to avoid such paingivers in the future.
I take it Indrek means if you had waited for it to go 2 pips below the previous candle you wouldn't have been in the trade as it never did.
  • #3,170
  • Oct 7, 2009 3:52am Oct 7, 2009 3:52am
I entered at point A and left it running until I came back from work. I made 25+35+45 = 105 pips. Point A showed 5-15-240 strategy. I could also enter at point B, but was away from computer. I decided on short because the candle failed to break the Daily Pivot resistance level and were showing lower high. Is this success based on luck? If I put a stop loss it would be on the other side of the Daily Pivot level. Let me know what you guys think.
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  • #3,171
  • Oct 7, 2009 4:00am Oct 7, 2009 4:00am
I know losses are inevitable and I'm still practising entries but just wish to check if my entry was valid here according to the rules.

Entry was short at the price marker. I held on despite the opposite 5M Trix signal that appeared soon after I entered. 30M was still valid.

Any suggestions pls? Is there a way to avoid this situation? Maybe since it went the wrong way immediately I should have got out?

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  • #3,172
  • Oct 7, 2009 4:31am Oct 7, 2009 4:31am
It was a valid entry according to my chart, because I saw it and didn't take it. The only reason I didn't take it was the time, it was 10 minutes or so before London opened and I know from experience how they can come in and push it wherever they want to. The next signal was a buy at 8.00 GMT should have been taken at roughly 1.5922 which I also didn't take because it was too near the trendline I have had there since yesterday afternoon when it couldn't get past 1.5935, but thats just me, over cautious
  • #3,173
  • Oct 7, 2009 4:41am Oct 7, 2009 4:41am
1] trix signal pink vertical
2] red confirmation arrow yellow square
3] price is now beneath 38.2 fib and wk pivot - yellow square
4] short and exit all daily S1 +25
5] or scale out +25+30+35, . . . . which sounds better, but my personal preference is 4]
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  • #3,174
  • Oct 7, 2009 4:46am Oct 7, 2009 4:46am
I think its swings and roundabouts really peter. Sometimes scaling out will mean more money, sometimes less and sometimes the same, its all a matter of preference.
  • #3,175
  • Oct 7, 2009 5:49am Oct 7, 2009 5:49am
+675 Pips
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" Never let the past hold the future to ransom "
  • #3,176
  • Oct 7, 2009 5:50am Oct 7, 2009 5:50am
+535 Pips
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" Never let the past hold the future to ransom "
  • #3,177
  • Oct 7, 2009 6:12am Oct 7, 2009 6:12am
nice trades Gleneagles
whats your typical Stopp
  • #3,178
  • Oct 7, 2009 6:39am Oct 7, 2009 6:39am
Good job Gleneagle..

You are really incredible. Are u using the 5-15-240 strategy on 4H chart instead of 5M chart?
  • #3,179
  • Oct 7, 2009 8:18am Oct 7, 2009 8:18am
Quoting Trader7
Indrek, details please. I need to learn to avoid such paingivers in the future.
I noticed that you entered in the middle of a candle and not at the break of any low.
  • #3,180
  • Oct 7, 2009 8:29am Oct 7, 2009 8:29am
Quoting luckylady
...it was 10 minutes or so before London opened...
Thanks Luckylady, I should have known better. I normally have left my desk by this time so didn't consider the LDN/FF open. I've been considering avoiding trading exactly one hour before this for similar reasons - LDN forex traders starting early and giving similar odd changes in direction. But avoiding both won't leave me much window to trade

If I do avoid the open maybe I'll add more pairs to monitor in the short window before my day-job, to increase signals.
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