Eaglets Flight Training School

Gleneagles has shared /introduced the toptrend indicator on the thread with settings which are not default settings. He has mentioned the following settings...
1. 15,1
2. 12,1

Used as a trailing stop after suggested TP1 and TP2 are met. These suggested TP1 and TP2 values are documented in the manual (page 13)for 60-15-5 TF and on this thread mentioned to double these values for the 240-15-5 TF.

Introduction of the volatitily stop indicator has not yet been optimised for the MTF TRIX. Nor has it been suggested by Gleneagles. A comparsion of this indicator( volatiltiy stop indicator ) with the default settings has been put on a chart with the default settings of TOPTREND indicator and a conclusion made that Volitity stop indicator is better than the TOPtrend indicator for the MTF TRIX system.

I bit scary to me for newbies seeing this kind of false comparision.

I have attached a chart also showing a comparision of TOPTREND indicator with the two suggested settings by GLENEAGLES and the default settings of this proposed volatility indicator.

To make myself clear..... I am not commenting that one indicator is better than the other.... rather not to come to conclusions without proper proofing.!

http://cdn.forexfactory.com/attachme...1&d=1258091517

a chart where the red and blue dots belong to Volty and the other one is BB Stop with its default settings (20).
http://www.forexfactory.com/showpost...postcount=3459

Attached is my copy of chart. I am in the UK...broker is FXDD, and show a recently opened trade...

Looking forward to your trading plan...
[/quote]Over the weekend, I will be formalising my trading plan. It will be centred on the 60/15/5 method, and I hope to be able to put some effort into making it a professional document... Something that you could give to a clerk to work from.

Since the formulation of a trading plan cum checklist is also recommended by the Author of this system, I feel that in order to trade correctly, I will need one as well. [/quote]

Freddi

What a good idea as it will benefit so many traders!

GU 60/15/5 Not EXACTLY to the rules (re TP).. +12, +20, +31 = +63

Freddi

1.http://www.forexfactory.com/showpost...&postcount=411
Over the weekend, I will be formalising my trading plan. It will be centred on the 60/15/5 method, and I hope to be able to put some effort into making it a professional document... Something that you could give to a clerk to work from.

Since the formulation of a trading plan cum checklist is also recommended by the Author of this system, I feel that in order to trade correctly, I will need one as well.

It will include the setups, right down to individual TP's and SL's... Essentially, rewriting lrathi's manual, but for my own use, rather than as a reference work. My plan will cover all that I need to know about how to trade the setup, not limited to Entries and Exits. It will include much the same stuff as the work of Stuart McPhee. It will be exhaustive, but worth the effort.

2.http://www.forexfactory.com/showpost...&postcount=346
I am attempting to put all of Glen's post into a doc that can be used as a trading reference work. I would say that I have 'Part 1 - MTF: Naked and Sharp' complete, as I am up to Roy's additions. When its finished, if there is enough interest, I can post it on the thread.

Trading plans are personal and several references have been given here recently. The new babypips webiste for making one's OWN personal plan is great..... Makes one think for themselves why you want to trade and iron out personal grey areas we put in our own HARD BASKETS.

Baffles me or I may be incorrect why others expect your personal plan to be put on OPEN FORUM....

Surely as Gleneagles mentioned we can all READ and WRITE and are INTELLIGENT people.

What are you planning to put on the open forum?

Ref 1 or Ref 2 or both.
Thanks.

Hmmm...dogfood and... is it vanilla ice cream ?

My point is made with good intentions... KISS, or this will be the beginning of the end...

Who knows?

I have to read everything carefully as I am the elected manual writer only updating what is posted on the thread for the benefit for those who do not have to read zillions of posts when they come along/

My personal plan exit... I take TP1 and TP2 using the EA management one with 2x TP. This suits me and am happy with my account balance.

Hi,
Thanks for your message.
Words are interpreted in very different ways by very different human beings.
There's nothing unfriendly in my message. I am sorry you feel this way.
I have had the opportunity to thank Gleanagles and the contributors of this thread for their excellent work.
Best,

TRUE!

Hi all...

Well, you know, I could put my personal trading plan on the forum... But what would be the point? It would be like me walking up to the dean of my University, and asking if I can skip three years of Uni and get my degree early... Sure, I would have the piece of paper, I would be 'qualified', but would I know what I was doing on the job?

The WHOLE POINT of doing up a trading plan is to get so familiar with the nitty gritty of the system that you trade, not so you have something to wave at other motorists when you are stuck in a trafic jam, but so YOU KNOW AND UNDERSTAND THE PROCESS INTIMATELY. Its a PERSONAL document that outlines the reasons for each and every trade. Do you want to know why (I believe) that Glen has not come out months ago, and given us a complete system? Cause, you can bet your bottom dollar, he has his own manual for this setup... I could guarantee it! He could have just laid it on the line. Trust me, he is such a seasoned trader, he would know every step of the process from go to wo!

Now, why didn't he just dump that on us, and then disappear into the sunset?

Come to that, why is a professional trader even messing around on amature forums like this? Why go to all that heartache, when I am quite sure that he does have far better things to do with his time?

Is he here for the pay packet he recieves for all his tuition?

Is he here for the adulation and respect he recieves?

Is he here because he is wanting us to go on and buy a $5000 DVD series?

I can tell you why he is here... He is here because he was once a newbie trader, and with the support and help of mentors, he was able to elevate himself out of where he was to where he is today.

Did they just give him a complete system, or did they make him think, make him nut stuff out on his own, make HIM into a TRADER, rather than just giving him a list of instructions to blindly follow, and ultimately, missintepret?

For a start, I can't guarantee that my trading plan will be anything all that marvellous when it is compared to the next persons anyway. What I CAN guarantee though, is that my trading plan will be MY trading plan. It may not be suitable to other people. As Glen says, its your money, your risk.

So, please consider writing your own plans. Don't you owe it to yourself to go through the setup, become completely familiar with the way it works (and WHY it works) and then put your plan down in your own words? Otherwise, its a waste of time.

In terms of the compilation I have been working on, its nothing all that special. All I have been doing is going back through all the old posts and cutting and pasting them into a word doc. Thats all. I am more than happy to share it, but I would suggest to others that they could benefit from going back to 'square one' every now and then, and re-reading this stuff, going through the same process I am with it.

You see, I can cut and paste that stuff into a doc, and post it. But then I am the one that gets the advantage, not the reader. As I went back through the posts it was interesting and refreshing to see how the system developed over time. I belive that without that fundamental information, we miss the point. Just reading that stuff, without your active participation in the process means you will miss stuff. Do it yourself. Make it YOURS! Put marks in the margins. Underline stuff. Make notes. Turn the corners of the pages over so you can come back to them later.

If you are interested, go cut and paste yourself. Get intimate with it. Without trying to sound too flowery, I gained a new appreciation for Gleneagles efforts, and the sustained efforts of other traders like lrathi and Indrik who have been fundamental in keeping the threads alive over time.

Indrik and I may have had words in the past, but to be perfectly honest, other than Glen, I am not sure of another trader who has so consistenly applied the principles that Glen has taught. I do totally respect him for that. He has been trading this setup since Glen started teaching back in August, and prior to that he had his own system, albeit, it may not have worked as well as Glen's. ALL other things asside, Indrik has done really well out of this setup. I applaud him for his efforts.

Having said this, I know that there are other traders who have traded this setup from the beginning. lrathi, Trader7, IamFX... the list goes on. I do not wish to leave anyone out, because there have been so many valuable contributors over the months, and so many more watching on from the sidelines, lurking, who have never posted a thing.

Guys and girls, if this was the ONE setup, the ONE trading plan, the ONE checklist that you needed to take yourself from your current circumstances and place you in more favoriable ones, would it not be worth the input to go through every bit of info you can find, and to know this stuff like the back of your hand?

If not, I guess you really have to question why you are even looking at Forex in the first place...

Well, I will get off my soapbox now... I just wanted those waiting for me to have my trading plan finished to see if it will work for them to take the initiative and do their own. Its not the plan itself that matters, but what it makes of you to write it! After that, when you have the understanding of the system, it simply becomes a checklist... Its work in formalising your personal understanding in the system is done. From then on, you can pass it onto the 'clerk within' to trade it for you.

I hope that what I have said makes some sense... Its not meant as a criticism (and certainly not aimed directly at you Freddi), but just a strong suggestion that getting the degree without the training is quite worthless.

Finally, I had to work in my part time job tonight, so I missed the setups. Did anyone else trade? Would love to see some charts! I notice that if I had dutifully followed the rules tonight, it would have been a very good night for me. I calculated I would have cleared 475 pip on six pairs... (Hmmm... Lets see... I worked for three hours in a cafe during peak trade time for less than $20 an hour, versus 475 pips (even if only traded at 0.1 lots) or $500+ for the same amount of time... There is something wrong with this picture!)

Still, there is always Monday. They are still making pips...

Night all.

PPP

Great result Freddi! Some is better than none, which is better than negative some!

PPP

Not sure about 'the end'... Only in the sense that Glen has given out the option that there may be a better way to trail our stops... (A stop is an end, isnt it? hehehe )

It does not damage the integrity of the system inself, but rather shows that even though Glen has a profitable system, it is still alive, he is still working on it to make it the best it can be....

Tossing us that hint was not by mistake...

Let us see what we can come up with folks... Probably get the entries right first, concentrate on TP1, TP2, TP3 an TS... If we can deal with that, we can deal with making the most out of the TS.

Just out of interest, other than the lurkers (who wont respond anyway), where is everyone at with trading this sucker? Who is live? Who is demo? Who is still trying to understand what a Trix is?

Remember, the forum is here to ask questions. We are all in this together. Glen is 'Paying It Forward', and sooner or later, when the class of '09 graduates, we will do the same in our own way... Lets make sure that as many of us make it through as we can.

PPP

I'm live and running about 70% winners. 15% of those losers are my fault and have to do with me missing a signal then jumping in late, my fault working on that. This weekend I will be going over my trading plan and trying to work on a new indicator for us. A dash board that covers the ADR(trade/no trade) and the mtf trix. all in 1 and in the chart corner so we can delete the mtf trixs from the bottom of chart and have more chart showing. I'm not much of a programmer so I will be trying to convert something all ready made to my liking and have posted a few places seeing if anybody wants to offer a hand.

Currently unable to trade intraday due to work (which sucks). Took these two trades on mth-week-day SL at bottom of signal candle.

Just got back from a vacation down south.
No internet connection.
I took with me the above mentioned book..... I highly recommended.
Ultimately all the indicators in the world are basically just telling us what price has done, and how it is currently moving.

For instance 60 15 5 is telling us that for the last 60 minutes price has been moving downwards, and when the 15 and the 5 line up, jump in

I am certainly not abandoning MTF, I am just learning to look at the charts first, the indicators second. I will still follow the rules of MTF...why not, it works.

I guess we need to ask ourselves, do we want to learn to read indicators, or the price action.

If you answer you want to learn to read the indicators, remember the indicators are telling you what price action has told them.

The above mentioned book is NOT an easy ready, but if you chip away at it, it will give up its secrets.

Looking forward to trading this week.

Nice work Dwayne!

MTF works for all levels of commitment.

PPP

I would guess that at 70%, the system is still profitable for you? And if you can iron out some of those 15% losers with the assistance of your trading plan, you will be laughing.

I would love to help with the programming, but I couldn't code my way out of a wet paper bag.

Good luck!

PPP

Hi,
70%, that's nice.
Do you take profits as soon as you see a reverse? Or is it a fixed amount?
Can I ask you what is the indi that shows the TRADE sign and what use do you have of the vertical lines?
Thanks for answering.
Cheers

i have in the past taken profit on reverses. i'm finding out my profit targets are being hit if i hold the trade and ride out the small reverses more often than not. the vertical lines are hourly lines. just something i have always had on my chart. the trade indicator is just the adr indicator posted in this thread with me changing it's signal a little.

http://cdn.forexfactory.com/attachme...1&d=1258136046

Great to hear of your performance with the MTF TRIX.

Your charts look clean. I did wonder about the "TRADE' in the middle top of your chart here and the previous one. RED here and GREEN before.

I am no programmer but admire and grateful to anyone who has and will in the future program any MTF TRIX indicator moving forward in this system.

Look forward to what you will post.

Thanks

EDIT: Just seen your answer to the "TRADE' to another trader that it is referred to the ADR.