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MTF Trix system

  • #3,181
  • Oct 7, 2009 8:55am Oct 7, 2009 8:55am
Quoting xecret
Pivot points are calculated from yesterday's High, Low and Close prices, so they are related to how you define the starting time of a day. From your charts I can see you are using MBT which is using EDT time as the chart time. EDT is in fact GMT-4, while the chart time adopted by most brokers is GMT, GMT+1 or GMT+2. GMT, GMT+1 and GMT+2 do not have too much difference, so we can see most trader's pivots do not differ too much. While, GMT-4 has a big difference, so you got very different pivot points.
In the 24-hour-trading FX market, there are mainly...
Outstanding work, yet again.Thank you.
  • #3,182
  • Oct 7, 2009 9:33am Oct 7, 2009 9:33am
Quoting luckylady
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.

Thank you for your response. I obviously made a bad trade. I hope you will post some of your trades so that we can also benefit from them.

Happy profitable trading.
  • #3,183
  • Oct 7, 2009 9:36am Oct 7, 2009 9:36am
Quoting Indrek
I noticed that you entered in the middle of a candle and not at the break of any low.

Thank you Indrek for your observation. A thoroughly bad trade taken in the heat of the moment. Not to be repeated.
  • #3,184
  • Oct 7, 2009 11:01am Oct 7, 2009 11:01am
Quoting Gleneagles
+540 Pips

Attached Image
Glen, nice to see you again.

I tried to find out how you built your chart with the H4 template. On the attached picture I put some comments on. Could you please proof them? Thanks for your work.

Attached Image (click to enlarge)
Click to Enlarge Name: 2009-10-07 post 1-1.gif Size: 34 KB


As the manual is not longer available on post #1 (lrathi has been banned) I can not find setting description number 4. Is my trial to find a setting correct?

Attached Image
If there are pips you can collect - just do it!
  • #3,185
  • Oct 7, 2009 11:07am Oct 7, 2009 11:07am
EURUSD Long closed @ +98 pips
Attached Image
" Never let the past hold the future to ransom "
  • #3,186
  • Oct 7, 2009 11:09am Oct 7, 2009 11:09am
Quoting Trader7
Thank you for your response. I obviously made a bad trade. I hope you will post some of your trades so that we can also benefit from them.

Happy profitable trading.
I used to post my trades on here when I was trading it all the time, which I don't do anymore. Its a great system but I needed to learn something that I would be able to trade in all sorts of markets, trending or ranging. Out of respect for Indrek, I wouldn't like to confuse things, but I do know the system inside out and back to front
  • #3,187
  • Oct 7, 2009 11:27am Oct 7, 2009 11:27am
Quoting luckylady
I used to post my trades on here when I was trading it all the time, which I don't do anymore. Its a great system but I needed to learn something that I would be able to trade in all sorts of markets, trending or ranging. Out of respect for Indrek, I wouldn't like to confuse things, but I do know the system inside out and back to front
Luckylady, if you have something that can be connected to this system, you are welcome to post it here. I cannot see too many possibilities to develop MTF Trix from the point where it is now.

Some people are posting pictures with wonderful results, others see the obvious thing - the system also provides many false entries. It is now very much up to everyone - what and whom they trust, what and how they use.

Any ideas for development are very much welcome!
  • #3,188
  • Oct 7, 2009 11:35am Oct 7, 2009 11:35am
[quote=studbiol;3125611]Attachment Glen, nice to see you again.

I tried to find out how you built your chart with the H4 template. On the attached picture I put some comments on. Could you please proof them? Thanks for your work.



As the manual is not longer available on post #1 (lrathi has been banned) I can not find setting description number 4. Is my trial to find a setting correct?


Studbiol,

I just posted the 240M trades currently running out of interest.
Unless you are able and willing to roll over trades , it is best to stick to 60 15 5 and 30 5 setups.

Unfortunately I am unable to rewrite the manual or assist individual traders with setups due to time constraints. If you want to experiment with 240 15 5, use double the TP and SL settings used for 60 15 5 setup.

Good luck with the trading
" Never let the past hold the future to ransom "
  • #3,189
  • Oct 7, 2009 11:54am Oct 7, 2009 11:54am
Quoting Indrek
Luckylady, if you have something that can be connected to this system, you are welcome to post it here. I cannot see too many possibilities to develop MTF Trix from the point where it is now.

Some people are posting pictures with wonderful results, others see the obvious thing - the system also provides many false entries. It is now very much up to everyone - what and whom they trust, what and how they use.

Any ideas for development are very much welcome!
Ultimately the biggest indicators is the traders understanding of price action.

Trading with the trend, being patient, cherry picking trades so that one does not trade too often, that when one places a trade it is because you think it is a good trade, not to just get into the market.

There is one indicator that I occassionally use that helps me see what price has been doing and levels to watch a break of.

See attached image

On this chart I am using a Smscalper 5 minute Trix and a 30 minute trix beneath that.
The other trix on the chart is a 60 minute trix
Attached Image (click to enlarge)
Click to Enlarge Name: 5minute.png Size: 19 KB
Attached File(s)
File Type: ex4 level_trading_123.ex4   15 KB | 567 downloads
File Type: mq4 level_trading_123.mq4   13 KB | 617 downloads
  • #3,190
  • Oct 7, 2009 11:59am Oct 7, 2009 11:59am
Quoting Indrek
Luckylady, if you have something that can be connected to this system, you are welcome to post it here. I cannot see too many possibilities to develop MTF Trix from the point where it is now.

Some people are posting pictures with wonderful results, others see the obvious thing - the system also provides many false entries. It is now very much up to everyone - what and whom they trust, what and how they use.

Any ideas for development are very much welcome!
If it was something that could be used to improve this system then I would. I don't think there is anything that beats it as far as it goes, really I don't, but I do need a lot of pips during a day for the next couple of weeks and had to switch to something that could cope with any type of market. I do still take some of the trades from this system though and will post whatever trades I do take, but will take off the MA's I have on the charts first so as not to confuse things.
  • #3,191
  • Edited 12:28pm Oct 7, 2009 12:04pm | Edited 12:28pm
Quoting pgpb
Ultimately the biggest indicators is the traders understanding of price action.

Trading with the trend, being patient, cherry picking trades so that one does not trade too often, that when one places a trade it is because you think it is a good trade, not to just get into the market.

There is one indicator that I occassionally use that helps me see what price has been doing and levels to watch a break of.

See attached image

On this chart I am using a Smscalper 5 minute Trix and a 30 minute trix beneath that.
The other trix on the chart is...
Thanks
This indicator seems to be the same as ZigZag that has different variations.
I have not added any indicators to my MTF chart as I like it to be clean. But occasionally I have a look at another template that has THV Trix on it. It is good for visual estimation of oversold-overbought situations, besides it draws divergence lines authomatically
But this is not a place to discuss THV Trix as there is another thread for it that is run by Cobraforex.
(The picture is just to show my point not my usual chart!)
Attached Image (click to enlarge)
Click to Enlarge Name: 0710 1.gif Size: 47 KB
  • #3,192
  • Oct 7, 2009 12:21pm Oct 7, 2009 12:21pm
Quoting studbiol
Attachment Glen, nice to see you again.

I tried to find out how you built your chart with the H4 template. On the attached picture I put some comments on. Could you please proof them? Thanks for your work.

Attachment

As the manual is not longer available on post #1 (lrathi has been banned) I can not find setting description number 4. Is my trial to find a setting correct?

Attachment
On the 240M chart that you posted, you have a question mark on the buy signal on October 1. I assume you want to know whether it was a valid buy signal?
Attached Image
" Never let the past hold the future to ransom "
  • #3,193
  • Oct 7, 2009 12:28pm Oct 7, 2009 12:28pm
Quoting Gleneagles
On the 240M chart that you posted, you have a question mark on the buy signal on October 1. I assume you want to know whether it was a valid buy signal?
This is what my 5M chart, looks like.
Because server times differ, 240M charts may differ because of different starting times for 240M candles.

On my charts, this is NOT a valid Buy signal.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_09 Oct. 07 19.27.gif Size: 18 KB
" Never let the past hold the future to ransom "
  • #3,194
  • Oct 7, 2009 1:02pm Oct 7, 2009 1:02pm
Quoting Gleneagles
Studbiol,

I just posted the 240M trades currently running out of interest.
Unless you are able and willing to roll over trades , it is best to stick to 60 15 5 and 30 5 setups.

Unfortunately I am unable to rewrite the manual or assist individual traders with setups due to time constraints. If you want to experiment with 240 15 5, use double the TP and SL settings used for 60 15 5 setup.

Good luck with the trading
Attached Image
If there are pips you can collect - just do it!
  • #3,195
  • Oct 7, 2009 1:53pm Oct 7, 2009 1:53pm
Quoting studbiol
You are right ... is it valid? And why ... or why not?


240 15 5
60 15 5
30 5

Remember the 2 or 3 block trading system, the one we have been trading for almost 2 months?
The same one where we line up blocks of the same color?
Attached Image
" Never let the past hold the future to ransom "
  • #3,196
  • Oct 7, 2009 4:50pm Oct 7, 2009 4:50pm
Quoting Gleneagles
240 15 5
60 15 5
30 5

Remember the 2 or 3 block trading system, the one we have been trading for almost 2 months?
The same one where we line up blocks of the same color?
Thanks Glen, I remember
Attached Image
and I got it.
I will act more careful with the different settings.

If there are pips you can collect - just do it!
  • #3,197
  • Oct 7, 2009 5:13pm Oct 7, 2009 5:13pm
Quoting studbiol
Attachment Glen, nice to see you again.

I tried to find out how you built your chart with the H4 template. On the attached picture I put some comments on. Could you please proof them? Thanks for your work.

Attachment

As the manual is not longer available on post #1 (lrathi has been banned) I can not find setting description number 4. Is my trial to find a setting correct?

Attachment
Lrathi has been banned? What did I miss? What did she do?
How do you make a small fortune in Forex? Start with a large one!
  • #3,198
  • Oct 7, 2009 5:36pm Oct 7, 2009 5:36pm
Quoting paidperpip
Lrathi has been banned? What did I miss? What did she do?
Hi Paidperpip,

I don't know why.
Attached Image

Perhaps you give this question to Indrek ... he is the boss.

Attached Image
If there are pips you can collect - just do it!
  • #3,199
  • Oct 7, 2009 6:54pm Oct 7, 2009 6:54pm
the 240s look like a really nice way to trade if you've got the skill and can manage the risk, i think i'll focus on 60155 consistency first, . . . . 240s for the future

nevertheless, i do like the idea of less screen time
  • #3,200
  • Oct 7, 2009 10:19pm Oct 7, 2009 10:19pm
As far as I know, GJ is always active in the morning when the Asian Market opens. But today it is trading in a range bound for a very long time. I followed the strategy ( all the 4 blocks are blue ) plus the candles are above Daily Pivot line. But after 2 pips entrance, and after many hours, I don't know whether the entrance is right. The news of the interest rate is today. Maybe that's why it is in a range bound. But my entrance is not happening 30 minutes before the news. There should be some kind of a movement, right? Mental note, I guess during news announcement days, don't do any trading involving that currency.
Attached Image (click to enlarge)
Click to Enlarge Name: gpbjpy14.jpg Size: 275 KB
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