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MTF Trix system

  • #3,461
  • Nov 13, 2009 5:38am Nov 13, 2009 5:38am
Quoting paidperpip
Indrik, I don't mean to pry, but I know you have been consistently trading Glen's method for months now......
I am afraid that I am a disappointment in this context... I trade very occasionally and I have not kept any record or diary of my trades. So, I am not ready to say how many wins and losses or how many pips any of my trading systems have given...
I have only one setup that I trade every single day, no matter what. But it is not MTF Trix as I do not have enough time to watch my screens and catch the setups. So, I have chosen to trade certain breakouts and higher timeframes meanwhile. If I am behind my computer and see a nice MTF Trix setup then I certainly take it but this is not something that could be named very successful or systematic approach.
What I can say is that with proper concentration and effort, MTF Trix is a winner. I am not sure if I would be able to achieve a 90-95 % hit rate but 75 % could be done.

P.S.I had a look at what I have posted and it seems to me that there are almost all of my MTF Trix trades. There are some losers, too, not only winners. But I lose mostly with other systems, not that one
  • #3,462
  • Nov 13, 2009 5:47am Nov 13, 2009 5:47am
Here is my first and only MTF Trix trade for this week.

This is how BB Stop or Volty Channel or both together could be interpreted with MTF Trix:
if price has crossed above or under BBS and/or VCh, go long/short as soon as possible (using MTF Trix signal, of course).

I use default settings for both indicators. I consulted with Glen and he said that BB Stop with its default settings is just too slow for him personally. But I am a conservative trader, so I enjoy slowing things down
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  • #3,463
  • Nov 13, 2009 5:54am Nov 13, 2009 5:54am
Quoting Indrek
I am afraid that I am a disappointment in this context... I trade very occasionally and I have not kept any record or diary of my trades. So, I am not ready to say how many wins and losses or how many pips any of my trading systems have given...
I have only one setup that I trade every single day, no matter what. But it is not MTF Trix as I do not have enough time to watch my screens and catch the setups. So, I have chosen to trade certain breakouts and higher timeframes meanwhile. If I am behind my computer and see a nice MTF Trix setup then I...
Indrik, thank you for your honesty. For my money, I can see lots of good MTF trades posted by you on this thread. Anyone with the interest in doing so could go through your posts and see the amount of times that you have posted, and how many of them have been winners.

Personally, I am trying to turn over a new leaf. Glen's post the other day in the Eaglet's thread about keeping a copy of EVERY trade he has taken is not the first time that I have heard this. I will be doing so from now on, and analysing why some worked and some didn't. Glen is a professional trader, and the word PROFESSIONAL has a couple of meanings, not just that he gets paid for what he does.

I seek to emulate his success.

I wish you the best in your endeavours...

PPP
How do you make a small fortune in Forex? Start with a large one!
  • #3,464
  • Nov 13, 2009 5:57am Nov 13, 2009 5:57am
Quoting paidperpip
Indrik, thank you for your honesty....
Thank you for your kind words
I agree with you about the professionalism. I just have a different profession right now It is probable that sometimes in the future I will focus only on trading but so far - I trade what I can and how much I can. And earn some extra from it but not my living.
I really hope that you will have success in your efforts, too.
  • #3,465
  • Nov 13, 2009 6:04am Nov 13, 2009 6:04am
Quoting Indrek
Thank you for your kind words
I agree with you about the professionalism. I just have a different profession right now It is probable that sometimes in the future I will focus only on trading but so far - I trade what I can and how much I can. And earn some extra from it but not my living.

I am hearing you... Right now, I am a mature aged student and have some part time work to help pay the bills. One day though, that will change...

I am a slow learner... Maybe a little dense when it comes to learning some things... But I am beginning to understand what Glen is saying, and why he is saying it, and even more, why he is saying it to US, even though it may have taken a long time...

You and I are no different to a lot of folks on here... Part time traders, wanting a better life for ourselves and our families... Struggling to make a balance between our 'real' and 'demo' lives...

We will get there... Of that I am sure.

PPP
How do you make a small fortune in Forex? Start with a large one!
  • #3,466
  • Nov 13, 2009 6:10am Nov 13, 2009 6:10am
Quoting paidperpip
I am hearing you......
Well, I have been trading live for some 1.5 years and I must say that what I enjoy most in it is not money but fun. It does not mean that I do not care about money. But if I would kept the same amount of money that I have on my trading account somewhere in depository account then the return would be 4-5 % per year. In Forex, I can have at least that much per month, plus pure fun!
  • #3,467
  • Nov 13, 2009 6:21am Nov 13, 2009 6:21am
Quoting Indrek
Well, I have been trading live for some 1.5 years and I must say that what I enjoy most in it is not money but fun. It does not mean that I do not care about money. But if I would kept the same amount of money that I have on my trading account somewhere in depository account then the return would be 4-5 % per year. In Forex, I can have at least that much per month, plus pure fun!
Yes, it's not a GAME but very fun.

After many fails I finally found Indrek's this method very profitable. Let me say thx again here while seeing PPP's comments.
  • #3,468
  • Nov 13, 2009 7:36am Nov 13, 2009 7:36am
Quoting Wakayama
Yes, it's not a GAME but very fun.

After many fails I finally found Indrek's this method very profitable. Let me say thx again here while seeing PPP's comments.
  • #3,469
  • Nov 13, 2009 12:45pm Nov 13, 2009 12:45pm
Quoting Indrek
Hi

Is the first page updated ?

Thanks
Make money Not pips
  • #3,470
  • Nov 13, 2009 1:06pm Nov 13, 2009 1:06pm
Quoting balle1973
Hi

Is the first page updated ?

Thanks
As of this post, the last update was at..... Nov. 6, 2009 @ 6:08 AM.
I trade what I see on my charts. Do Not listen to the Muppets.
  • #3,471
  • Nov 13, 2009 1:26pm Nov 13, 2009 1:26pm
Quoting balle1973
Hi

Is the first page updated ?

Thanks
The first page describes the initial setup. Everything else that you see on people's charts is optional and everyone's personal choice.
  • #3,472
  • Edited 10:52pm Nov 13, 2009 10:38pm | Edited 10:52pm
Hi guys, this is what I did on friday. Pairs=EU Signal=60,15,5 TF=5m

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Not bad, but still have some questions.
(1)how can I make more re-enter profit?(I take 10pips and don't know better way to make it more)

(2)I set a TS as 40 pips and don't konw if it is correct setting (while trend changed I get out manually).

How do you think?
  • #3,473
  • Edited 7:09am Nov 14, 2009 12:34am | Edited 7:09am
Quoting Wakayama
Hi guys, this is what I did on friday. Pairs=EU Signal=60,15,5 TF=5m

Attachment

Not bad, but still have some questions.
(1)how can I make more re-enter profit?(I take 10pips and don't know better way to make it more)

(2)I set a TS as 40 pips and don't konw if it is correct setting (while trend changed I get out manually).

How do you think?
I do not quite understand your question... Why do you exit at 10 pips if you want to take more? The overall result from the trades shown on your chart is +240 pips - so, why would you take only 10?

I also do not understand the TS part... If you exit at 10 pips then you probably do not need TS at all...

I usually trade EU with SL and TP2 at 30 pips, and TP1 at 15 pips.
My overall goal is to take at least 40-50 pips per day when trading at all. After I have collected that, I very often do not trade more even if I could.
My principle is increasing lots rather than going for too many pips. Many professionals would also suggest to limit market exposure as much as possible.
Our real result is measured only in money, never in pips. That is why trading starts only when we go live. Demo is just a training game and pips gained there mean almost nothing.
  • #3,474
  • Nov 14, 2009 3:24am Nov 14, 2009 3:24am
Quoting Indrek
I do not quite understand your question... Why do you exit at 10 pips if you want to take more? The overall result from the trades shown on your chart is +240 pips - so, why would you take only 10?

I also do not understand the TS part... If you exit at 10 pips then you probably do not need TS at all...

I usually trade EU with SL and TP2 at 30 pips, and TP1 at 15 pips.
My overall goal is to take at least 40-50 pips per day when trading at all. After I have collected that, I very often do not trade more even if I could.
My policy is increasing...
Well said Indrek.
  • #3,475
  • Nov 17, 2009 10:23am Nov 17, 2009 10:23am
Home, Home on the Range
Where the Bulls & the Bears play
Where seldom is heard a discuraging word (D*mn, S/L hit)
And the PIPs are raked in all day




http://www.forexfactory.com/showpost...postcount=3335
I trade what I see on my charts. Do Not listen to the Muppets.
  • #3,476
  • Nov 18, 2009 4:38am Nov 18, 2009 4:38am
This is a good example of this system's behaviour in ranging versus trending markets. Two pairs that are usually well correlated, two trades taken at exactly the same time. But how different are the results...
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  • #3,477
  • Nov 19, 2009 12:40am Nov 19, 2009 12:40am
Indrek i do not know why you lose 40 pips it is not a valid trade ,right?is't i am wrong?if yes i should say sorry first.
the entry price is 1.6828 but you notice the monthly resistance 1 is just 8 pips different to the entry level ,i do not take that trade!!!!
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  • #3,478
  • Nov 19, 2009 5:22am Nov 19, 2009 5:22am
Quoting weisiong00
Indrek i do not know why you lose 40 pips it is not a valid trade ,right?is't i am wrong?if yes i should say sorry first.
the entry price is 1.6828 but you notice the monthly resistance 1 is just 8 pips different to the entry level ,i do not take that trade!!!!
Entry was at 1.6832 while monthly R1 on my chart was 1.6857. It was a valid trade according to the criteria that I use for entries.
Losing 40 pips is not a problem as losing is a normal part of trading. I just wanted to demonstrate how differently can two highly correlated pairs behave sometimes.
  • #3,479
  • Nov 19, 2009 4:54pm Nov 19, 2009 4:54pm
Quoting Indrek
Entry was at 1.6832 while monthly R1 on my chart was 1.6857. It was a valid trade according to the criteria that I use for entries.
Losing 40 pips is not a problem as losing is a normal part of trading. I just wanted to demonstrate how differently can two highly correlated pairs behave sometimes.
OH MY GOD, so the different S & R level will affect the result???
  • #3,480
  • Nov 19, 2009 9:41pm Nov 19, 2009 9:41pm
Quoting weisiong00
OH MY GOD, so the different S & R level will affect the result???
Differencies in S&R levels come from differencies in broker's datafeeds. I have pivots on my charts but I do not trade them. Fixed SL and TP levels have worked perfectly with MTF Trix system.
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