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MTF Trix system

  • #3,321
  • Oct 17, 2009 9:02am Oct 17, 2009 9:02am
Quoting zznbrm
However, judging by the results you have seen from Gleneagles (Excel spreadsheets and trades), wouldn't you say he has realized excellent results with this system? Whether his profit is 20% or 40% or 3%, he has a very high win percentage and it appears no one else is near his performance. Why is that?
Don't you think that a person who has done something at professional level for 10 years has obtained such an amount of experience and skill that he is capable of making better decisions just on the basis of intuition than other people are making using whatever scientific approach?
So, the simplest answer to your question is that if you trade this system day by day during some years then your hit rate will also improve
  • #3,322
  • Oct 17, 2009 9:08am Oct 17, 2009 9:08am
Quoting zznbrm
Indrek, this is exactly what I have done and continue to do. I have taken a few aspects of the methods on this thread and incorporated them into my own system. And I thank you for that!
Thank you for your kind words
If you have anything to share about your system that might be useful for MTF Trix traders, please do so.
  • #3,323
  • Edited 10:42am Oct 17, 2009 9:57am | Edited 10:42am
Quoting Wakayama
this is the trade I took yesterday. GU=60,15,5. But failed. It hit hard SL (40pips).
Still I feel confused sometimes just like this one of yesterday. PA went well but in the working time it changed to range. So do you take EVERY signal or use other ideas to get more clear one? Of cause every signal here means to be filtered by the tools that mentioned in this system (pivot levels, 00 number, 2pips higher or lower) already. Although it seems like an old question...

Attachment
I was going thru the thread (been away for a while) and came upon Wakayama's dilenma. Gleneagles gave the right answer. However, I would like to add that it is crucial for everyone to understand what moves the market. This understanding will stop the confusion when a loss occurs (blown some live accounts till I got this understanding) and stop the search for the "Holy Grail". We must understand that the market moves as a result of traders reaction to news (not the news itself or as commonly known 'buy the rumour sell the fact') and investor sentiments. It does not matter whether your indicators are all screaming buy signals. If a market maker with a whole lot of dough decides to short the market at that time, then your buy will turn into a big loss. Most of these counter trend moves happen at extreme/ major support and resistance levels and also when the ATR is extended that is why your understanding of the market will determine your success not necessarily the indicators you bunch together to call a system.
So do not waste time trying to look at the right combination of plethora of indicators. Just get an oscillator and trend indicator, compare them in different time frames; go with the trend ( 'cos the high probability trades are usually in the direction of the trend) watch out for divergences , get your money management right and you are good to go. I think thats what the MTF Trix System offers. Thank you
LISTEN TO MR FUNDAMENTAL AND MR TECHNICAL
  • #3,324
  • Oct 17, 2009 10:38am Oct 17, 2009 10:38am
This is a continuation of my earlier post on the need for understanding the markets as a foundation for trading any system. I would like to use a specific example. GU ran up 305 pips on Thurs and market sentiment was that it could get to 1.6450/1.6500 yesterday if it breaks 1.6375 resistance. What do you know, it broke thru Thurs high, broke thru 1.6375 and reached a high of 1.6398 all during the asian session. All was required was a pull back to support (if it holds) at 1.6375 area and then we would be on our way to 1.6450. Personally I was in at 1.6303 as I traded the breakout of Thurs high. To cut a long story short the market could not hold the move up as sellers came in and GU made only a mere 148 PIPS. So why was there no follow through. Two reasons:
1. The friday factor
2. Look at the attached chart, GU (daily time frame) tested the upper wall of a downward sloping channel or you could say trendline resistance and sellers came in to push the price down (remeber what i said in my earlier post, cos at that point sellers came in, all indicators were screaming buy). An understanding of these facts would help you set the most appriopate targets and stop losses in your trading. Thank you
Attached Image (click to enlarge)
Click to Enlarge Name: gu daily.gif Size: 55 KB
LISTEN TO MR FUNDAMENTAL AND MR TECHNICAL
  • #3,325
  • Oct 17, 2009 10:40am Oct 17, 2009 10:40am
Quoting Indrek
What is the main reason for you to play with additional indicators? There can be two reasons:
1) you are not comfortable with the initial setup;
2) you take trading as a fun and do not care about the results.
I think that most people here who are looking for confirming tools do it for the first reason. If it is so then I have nothing against discussing the topic in this thread. But my idea would be that any additional tool will be introduced in this thread after it has been tested in real trading for some period (at least a month, I think) and has...
you know what....I am not going to post here any more.
I happen to mention that I am "playing" with Bollingers, and you launch into analyzing why.....I just wanted to post to defend Glen.....and I happened to mention in passing, that I am "playing" with Bollingers.....geez

I try to be careful with the words I write...and English IS my first language.....but perhaps the word "playing" may have struck a chord.

Anyways....this has been a hugely valuable thread and I have gained a lot of knowledge and I am trading profitably......so thank you all.
I think I am going to not post here any more.

Best wishes and many thanks for a system taking me from not profitable to profitable.....but I don't think I will "play" here any more.
  • #3,326
  • Edited 2:55pm Oct 17, 2009 10:51am | Edited 2:55pm
Quoting pgpb
you know what....I am not going to post here any more.
I happen to mention that I am "playing" with Bollingers, and you launch into analyzing why.....I just wanted to post to defend Glen.....and I happened to mention in passing, that I am "playing" with Bollingers.....geez

I try to be careful with the words I write...and English IS my first language.....but perhaps the word "playing" may have struck a chord.

Anyways....this has been a hugely valuable thread and I have gained a lot of knowledge and I am trading profitably......so thank...
Oh, my post was not meant to criticize you, and my questions were purely rhetorical... Sorry if it was not clear enough...

I am very happy that you make nice profit! After all, profit is the only goal of any business.
  • #3,327
  • Oct 17, 2009 2:33pm Oct 17, 2009 2:33pm
Quoting Gleneagles
I am a professional trader and have been trading for 10 years. I have shared freely on this thread and others when I get the chance. I trade 4 pairs...
I agree 100%. Too many people, here and on other boards, try to micro-analyze trades and trading methods. In the case of Glen's strategies, maybe they are just too simple to accept as valid. Personally, I have been very happy with my trading results using his methods. I do not post trades as I use TOS, and have never figured out how to post trades from that platform.

Returns depend on the size of your trade, I would rather get 20 pips on 5 lots than try for 100 pips on 1 lot, but everyone is different. However, I consistently net well over the 100-125 pips Glen mentions - each week, not monthly. So if a relatively new trader (to forex) can "get it", so should most others.

At the end of the day, as Glen has said many times, the choice is yours. If any method does not work for you, move on.
Read the entire thread BEFORE you ask questions!
  • #3,328
  • Oct 18, 2009 3:39am Oct 18, 2009 3:39am
Quoting johnami
I agree 100%. Too many people, here and on other boards, try to micro-analyze trades and trading methods. In the case of Glen's strategies, maybe they are just too simple to accept as valid. Personally, I have been very happy with my trading results using his methods. I do not post trades as I use TOS, and have never figured out how to post trades from that platform.

Returns depend on the size of your trade, I would rather get 20 pips on 5 lots than try for 100 pips on 1 lot, but everyone is different. However, I consistently net well over the...
There are actually quite a few traders that are trading this system profitably although they don`t bother to post their trades. I have no issues with that because trading and participating in threads can be very distracting at times. You are 100% correct, this system is just TOO SIMPLE. It needs to be a lot more complicated with a lot more additional indicators and filters to be a viable and consistent system

I will post some charts in my next post to illustrate exactly what I mean.
" Never let the past hold the future to ransom "
  • #3,329
  • Oct 18, 2009 3:52am Oct 18, 2009 3:52am
I have attached a chart GBPUSD 240M with Trix indicator.
On the same chart I have an additional indicator/filter to filter the signals.
The hitrate is close to 100%.

When I presented this strategy on a professional, private trading forum with the original Trix indicator on the chart only, nobody was interested in the system. Looks to easy maybe? I have no idea.

The interest was overwhelming when I showed them the chart with the additional indicator filter. Everybody wanted to trade the system

The morale of the story.....

Trading without the " filter " will net you 35-40% extra pips, which is substantial given the size of the 240M trends.
Yet the chart with the filter looks more attractive and NOBODY even bothered to do their homework first to establish whether Option A was better than Option B.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_01 Oct. 18 10.12.gif Size: 32 KB
" Never let the past hold the future to ransom "
  • #3,330
  • Oct 18, 2009 3:57am Oct 18, 2009 3:57am
Here is the EURJPY 240M

Same old story.........

Which version do I trade?

I pick the one where I get the best return for my trading investment.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_02 Oct. 18 10.19.gif Size: 33 KB
" Never let the past hold the future to ransom "
  • #3,331
  • Oct 18, 2009 4:06am Oct 18, 2009 4:06am
Quoting Gleneagles
Here is the EURJPY 240M

Same old story.........

Which version do I trade?

I pick the one where I get the best return for my trading investment.
BTW The "filter" is a just a Trix with a different setting. It is actually a trading handicap in the longer term ito trading results...but OH BOY ..it does look good on the charts.

There is nothing wrong introducing additional filters....as long you as you are quite clear exactly what you are trading.

The moment you set up conditions based on something unrelated to your trend direction and/or trigger methodology...what are you are actually trading?

It is like mixing Ice Cream and Dog Food, if you like the taste, make sure you know exactly what you are eating
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_02 Oct. 18 10.19.gif Size: 33 KB
" Never let the past hold the future to ransom "
  • #3,332
  • Oct 18, 2009 4:31am Oct 18, 2009 4:31am
To the traders that are trading MTF profitably...great...and good luck
To the traders that expect to be spoonfed and need instructions to swallow..good luck as well

Indrek, good luck with the thread, I cannot contribute anything else of real value, I know where to find pips next week and how to get them
" Never let the past hold the future to ransom "
  • #3,333
  • Oct 18, 2009 7:12am Oct 18, 2009 7:12am
Quoting okehiedon
This is a continuation of my earlier post .... Look at the attached chart, GU (daily time frame) tested the upper wall of a downward sloping channel or you could say trendline resistance and sellers came in to push the price down (remeber what i said in my earlier post, cos at that point sellers came in, all indicators were screaming buy). An understanding of these facts would help you set the most appriopate targets and stop losses in your trading. Thank you
Hi Okehiedon,

good explanation. Sounds very logical. I wondered what indicators and setting you use. Is it
1. !Autotrendline or SHI_Channel? (The green channel)
2. smC4Scalper Signals v1 or an other MA cross xxx and what setting did you take?
3. Does the blue Line belong to Mouteki indicator?
4. I suppose the green and red lines on the right side of the chart and the dotted belong to a pivot indicator. Right?

Do you mind to share them (with explanation of your setting)?

Kind regards.

If there are pips you can collect - just do it!
  • #3,334
  • Edited 9:41am Oct 18, 2009 8:58am | Edited 9:41am
Quoting Gleneagles
To the traders that are trading MTF profitably...great...and good luck
To the traders that expect to be spoonfed and need instructions to swallow..good luck as well

Indrek, good luck with the thread, I cannot contribute anything else of real value, I know where to find pips next week and how to get them
Glen, once again - my biggest possible thanks to you for your contribution and patience!

I agree with you absolutely that this system is "ready" and tradeable as it was initially introduced by you. I also hope that there are some people who trade the initial system profitably, and it is quite understandable if they do not post their trades here as the main aim cannot be to chat, it is to trade and make money.

I will try to keep this thread going until there are people who like to communicate and change ideas. But trading comes first, that is for sure.

  • #3,335
  • Oct 18, 2009 9:59am Oct 18, 2009 9:59am
Quoting Indrek
I have looked at it but did not understand the point... So I never tested it in real trading. Besides, the pivots have always worked so well for me.
Feel free to post it but it would be best if you also added an explanation how to use the lines.
The only thing a trader must do differently is to identify the market as trending or ranging.

If the market is trending, it is business as usual. If it is ranging, use the MML's with a 15,5 trix signal. The TP is whatever the range is between 2 of the lines. As in the case of the last chart I posted, that would have been 15 pips.

As for the meaning of the lines, I don’t know or care as I use them as targets.
Attached is a link to the MML indicator.
It is for each person to decide.

http://www.forexfactory.com/showpost...stcount=203377
Attached Image
I trade what I see on my charts. Do Not listen to the Muppets.
  • #3,336
  • Oct 18, 2009 10:03am Oct 18, 2009 10:03am
Quoting Vanhook2

If the market is trending, it is business as usual. If it is ranging, use the MML's with a 15,5 trix signal. The TP is whatever the range is between 2 of the lines. As in the case of the last chart I posted, that would have been 15 pips.

Thank you for the explanation. Still one important thing unsolved: what TF MMLs do you use? Is it M15?
  • #3,337
  • Oct 18, 2009 10:35am Oct 18, 2009 10:35am
pgpb, I'm just catching up on the posts since Friday, and read post #3325. I sincerely hope you'll reconsider your idea of not posting here any longer! I always read/study your posts and have followed your progress from the beginning. You have brought much to the thread, and I'm sure I'm not alone in saying please stay and continue your valuable contributions to this thread.
  • #3,338
  • Oct 18, 2009 11:48am Oct 18, 2009 11:48am
Quoting mary4x
pgpb, I'm just catching up on the posts since Friday, and read post #3325. I sincerely hope you'll reconsider your idea of not posting here any longer! I always read/study your posts and have followed your progress from the beginning. You have brought much to the thread, and I'm sure I'm not alone in saying please stay and continue your valuable contributions to this thread.
Sure.....of course there is even a trading lesson in this.

I mentioned that I was "playing" with an indicator....Indrek questioned this and I got "annoyed",......controling ones emotions, or at least not reacting to ones emotions is a really important lesson in trading.
Anyways....I don't think Indrek meant to be critical, so all is well.
Although the only thing of value I contribute is to remind people this is a simple system that makes consistant pips. There is not much need to add anything to it.
However, now that I think of it, there is one thing that was bubbling around in my head today. I believe at one point Glen may have mentioned that for every single trade he takes he takes a screen shot for his records. I may be mistaken, but I think he said that.
I do not do that...yet....but perhaps it is a good idea, if we are going to get serious about trading as a business, that would be a smart thing to do.
  • #3,339
  • Oct 18, 2009 12:05pm Oct 18, 2009 12:05pm
Quoting Indrek
Thank you for the explanation. Still one important thing unsolved: what TF MMLs do you use? Is it M15?

Yes, that MML was set to M15. The chart was a M5.
I trade what I see on my charts. Do Not listen to the Muppets.
  • #3,340
  • Edited 2:52pm Oct 18, 2009 1:54pm | Edited 2:52pm
Quoting Vanhook2
Yes, that MML was set to M15. The chart was a M5.
I have been trading murray math for years with fibo's and it rocks. 15 tf works best for ranging with more targets but I usually use 60 when trending because bigger targets.
Q
The Only Constant Is Change!
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