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  • #601
  • Nov 25, 2009 12:10am Nov 25, 2009 12:10am
PPP , Merlyn , Irathi

Spot on with your explanation how MTF operates.
Regarding the repainting issue...if you use Royston indi , it signals on a closed candle, it does NOT repaint. I make screenshots of ALL the trades I take
and have yet to see a single instance where that particular indicator repaints.

Come to think of it, have you noticed how PA repaints?
" Never let the past hold the future to ransom "
  • #602
  • Nov 25, 2009 2:33am Nov 25, 2009 2:33am
Quoting bigjim1958
Hi:
Might be putting dunce cap back on. You don't have to trade the first 1 hr candle that changes, just if 60/15/5 are all the same, even if the 60 minute candle changed many hours ago and still is the same color? Might be dumb, but the manual makes it sound, at least to me, that is has to be the first 60, then followed by 15, then 5. Thanks guys.

Jim
Jim,
There are three versions of TRIX meter, the differences are explained in the manual page 8. Also explained the workings of the roy05 version and xecret versions in terms of CLOSED candle for one and crossing of the TRIX indicator for the others.

So, when you read the M60 has to close first followed by the m15 and then followed by the M5..... This is correct. Ask yourself the two questions below. This is a UPDOWN approach to trading spelt out in the manaul from page 1 and several times throughout.
Q1. Which MTF Trix version is it refering to?
Q2.How will the squares look on the roy05 version and the xecret versions.

PPP has spelt out in his post 600 what is HINT 2 in the manual page 18.

Hint 2: The first time the trend changes is the better timing to trade when M5 confirm. ie. start of new trend change. Re-enter 2-3 only after first trend change is recommended. Why? Stacks highest probability, lowest risk trades are the entries close to, or at the trend change. This is while the trend is strongest.


Hint 6: The 30-5 strategy is also known as TWO(2)BLOCK strategy. The 60-15-5 strategy and the 240-15-5 strategy are also known as THREE (3)BLOCK strategy. The version of MTF TRIX meter (roy 05) used has a different working principle.

The examples in the manual have attached charts to show which version of MTF TRIX meter is being referred to when the explanation of paying attention to sequence is mentioned.

In the history of the development /programming of these trix meters and the writing of the manual...... All three versions have been explained and and the strategies used with all the versions. What each trader uses is their choice. The manual has to cover all versions.

IMHO: the confusion is because there are three versions of the MTF TRIX meters and the understanding of these versions is not fully understood.

I think both the roy05 and xecret versions have their pros and cons and the trader has to understand and decide which one they choose to use.
  • #603
  • Nov 25, 2009 3:20am Nov 25, 2009 3:20am
EU 60/15/5

TP1 hit (only just!!) for +20
other 3 positions Stopped out @ BE

I'm slowly learning to 'Trade the Plan'!!

Freddi
Attached Image (click to enlarge)
Click to Enlarge Name: 091125-eu.gif Size: 20 KB
  • #604
  • Nov 25, 2009 3:47am Nov 25, 2009 3:47am
Quoting freddi
EU 60/15/5

TP1 hit (only just!!) for +20
other 3 positions Stopped out @ BE

I'm slowly learning to 'Trade the Plan'!!

Freddi
Good work Freddi!

I was in the same trade, but got in a little earlier.

I managed TP's 1, 2 and 3, and a little on the TS... Will post a chart directly.

Not sure how you have got your trix set up on your chart, but see if you have different values than me... I had a green light from late in the Asian session...

Top effort!

PPP
How do you make a small fortune in Forex? Start with a large one!
  • #605
  • Nov 25, 2009 4:52am Nov 25, 2009 4:52am
Not a bad night... seemed to be a bit of uncertainty in the market at times, yet the night ended up profitably...

GU= +25, +35, +35, +36 = 176
EU= +20+18 = 38
GJ= +25, +35, +24 = 74
AU= +20, +69 = 89

Total for the night = 377

I chickened out of the EU when I evidently should have let it run.

Also got out of AU when I wanted to finish trading for the night.

How did everyone else go?

PPP
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu091125.gif Size: 36 KB
Click to Enlarge Name: gj091125.gif Size: 35 KB
Click to Enlarge Name: eu091125.gif Size: 35 KB
Click to Enlarge Name: au091125.gif Size: 34 KB
How do you make a small fortune in Forex? Start with a large one!
  • #606
  • Nov 25, 2009 4:57am Nov 25, 2009 4:57am
How do you know when a price has truly moved past a 000 line or a pivot? I have waited for closes in the past, only to see it retrace. Sometimes multiple candle closes above/below the line are not even enough...

Any suggestions?

PPP
How do you make a small fortune in Forex? Start with a large one!
  • #607
  • Nov 25, 2009 6:06am Nov 25, 2009 6:06am
First attempt at following the rules...

Not strict tonight, and only ran on 2 pairs, while i learn the ropes.
I got in late on the GU, and late on the GJ as well, but a win is a win

GU was +25, +35, +50, +60 = +170
GJ was +25, +35, +23 = +83

The stoploss in the GJ isnt visible for some reason, but it did get hit, on the candle after the TP2
Attached Image (click to enlarge)
Click to Enlarge Name: 20091125_Trades.PNG Size: 59 KB
  • #608
  • Nov 25, 2009 7:27am Nov 25, 2009 7:27am
Quoting bigjim1958
Hi:
Might be putting dunce cap back on. You don't have to trade the first 1 hr candle that changes, just if 60/15/5 are all the same, even if the 60 minute candle changed many hours ago and still is the same color? Might be dumb, but the manual makes it sound, at least to me, that is has to be the first 60, then followed by 15, then 5. Thanks guys.

Jim
Hello Jim,

I suspect that part of the confusion is due to the fact that there are 2 different MTF Trix indicators in use. One looks at inter-candle price movements and changes its signal accordingly during the formation of that candles' block whereas the other ignores the inter-candle movements during the formation of the candles block and only uses the information on the close of that candle, the information being displayed by the colour of the next block. That new block is showing what price action did during the formation of the previous candle and in the same way that a candle, once printed, will not re-print neither will that block.

It is almost like trading 2 different methods, the instructions for which are contained in the same manual. The chart which you originally posted indicated that you use Trix MTF meter roy 05 which is the second method above and is the also known as the 2 or 3 block method. Most of the methods that I have persevered with over the years have used closed candles (bars) as decision making points so my inbuilt bias led me straight to this method which my old brain finds simpler and easier. I have studiously ignored the instructions for method 1 so as not to confuse myself and I suggest that you do the same, concentrating on method 2 only. As it happens this is Gleneagles' prefered method also.

If you haven't already done so it might be helpfull to click on Gleneagles avatar then his post count and then read all of his posts, which will include relevant information from threads which you might not yet have found, he, after all is the expert but, as he has explained, being a professional trader is unable to spare the time to keep answering the same questions.
TTFN Merlyn
  • #609
  • Nov 25, 2009 8:29am Nov 25, 2009 8:29am
Quoting paidperpip
How do you know when a price has truly moved past a 000 line or a pivot? I have waited for closes in the past, only to see it retrace. Sometimes multiple candle closes above/below the line are not even enough...

Any suggestions?

PPP
Hello Paid,

It is a problem isn't it? I suppose it comes down to momentum and, bearing in mind we are actually trading a 240 (or 60 or 30) minute chart, we need to assess the momentum on the higher time frame before committing to a 5 min entry. Will switching to, say, a 240 chart still give meaningful readings from the indicators currently loaded onto the 5 min entry chart do you know? Or will different parameters need to be entered?
TTFN Merlyn
  • #610
  • Nov 25, 2009 9:33am Nov 25, 2009 9:33am
Quoting Merlyn
Hello Jim,


If you haven't already done so it might be helpfull to click on Gleneagles avatar then his post count and then read all of his posts, which will include relevant information from threads which you might not yet have found, he, after all is the expert but, as he has explained, being a professional trader is unable to spare the time to keep answering the same questions.
This is a good idea and something I did several months ago.

I would also remind people that we are interested in price action first, TRIX second.

The TRIX method is basically to make sure we are trading with the trend.
If the 60 or the 240 TRIX is red....ya better not be taking long trades

If the 60 TRIX is red....I am looking for short trades....when the 5 minute is green, it means that price is pulling back and I start focusing on price action to tell me when the pull back is over

I know (from my own mistakes) that there can be too much tendency to watch the TRIX blocks and not enough focus on price.

I am training my eye to watch for pull backs......so if the 60 TRIX is one color and the 5 minute is another.....that to me screams.....set up.....watch price to see when it gets back in line with what the 60 (or 240 TRIX)

I am still not settled on whether I want to be a 240 15 5 trader, or a 60 15 5 trader
Perhaps I should master the 60 15 5 first (just thinking out loud on that)....although I know that Lrathi has had great success being a 240 15 5 trader....hmmmm.....hmmmmm.....trading plan needs to be refined.
Thanks for listening to my ponderings.
  • #611
  • Nov 25, 2009 10:16am Nov 25, 2009 10:16am
Quoting Merlyn
Hello Jim,

I suspect that part of the confusion is due to the fact that there are 2 different MTF Trix indicators in use. One looks at inter-candle price movements and changes its signal accordingly during the formation of that candles' block whereas the other ignores the inter-candle movements during the formation of the candles block and only uses the information on the close of that candle, the information being displayed by the colour of the next block. That new block is showing what price action did during the formation of the previous candle...
I like your post but I was not sure whether your explanation of the roy05 versions and xecret versions are 100% accurate. I went back to the manual page 8 where xecret the programmer himself wrote an explanation of the differences of the two versions MTF TRIX METERS. Both versions give confirmed signals on the close of the candles. The way the squares show are different.

I quote:
Royston's version shows you the confirmed signals. It shows you the status of the previous closed bar of the upper timeframe, so it never changes color during the current bar developing. If you care more on confirmed signal and cleanness and do not care the unconfirmed ongoing status, please use Royston's version.

All xecret's four versions show you the status of the current upper timeframe bar, so the color may be changing during the bar developing. Once the upper timeframe bar closes, you get the color frozen, and you get a small dot on the lower timeframe bar.

0.91d/0.92d shows you a solid block if there comes a confirmed signal. At other time, you get hollow blocks.
1.0d/1.1d shows you a solid block when there is a confirmed signal and it keeps showing you solid blocks if the signal remains effective. Hollow blocks in this version stand for unconfirmed signal.

I got the impression from your post that roy05 gave confirmed signals on close of the candles and not the xecret versions. My understanding is that BOTH versions DO but DISPLAYED differently.

Hope you do not mind me making this clarifications for others reading the thread.
  • #612
  • Nov 25, 2009 10:31am Nov 25, 2009 10:31am
Quoting pgpb
This is a good idea and something I did several months ago.

I would also remind people that we are interested in price action first, TRIX second.

The TRIX method is basically to make sure we are trading with the trend.
If the 60 or the 240 TRIX is red....ya better not be taking long trades

If the 60 TRIX is red....I am looking for short trades....when the 5 minute is green, it means that price is pulling back and I start focusing on price action to tell me when the pull back is over

I know (from my own mistakes) that there can be too much...
I like the reminded to be watching PA first and using TRIX of the higher TF for trend direction. Easy explanation to remember.

I continue to have great success with the 240-15-5 TF, my refining of trading plan is for my personal lifestyle commitments . Use of Time management and email alerts/SMS and a laptop with mobile internet broadband is what I am trying to add to the refinement of trading plan not the method so much. I am reluctant to say too much on refining my method as I am proofing it at this stage. I get too many questions thrown at me which is rather disconcerting to say the least everytime I have shown a statement. I am aiming to try to trade less ( Higher TF) but more importantly able to trade away from my PC which sits at home office.

I hope the above will fill in the HMMMMM !!!!.......
  • #613
  • Nov 25, 2009 10:32am Nov 25, 2009 10:32am
Quoting lrathi
I like your post but I was not sure whether your explanation of the roy05 versions and xecret versions are 100% accurate. I went back to the manual page 8 where xecret the programmer himself wrote an explanation of the differences of the two versions MTF TRIX METERS. Both versions give confirmed signals on the close of the candles. The way the squares show are different.

I quote:
[b][color=#0000ff]Royston's version shows you the confirmed signals. It shows you the [u]status...
Larthi,
You are correct, both do give confirmed signals, but displayed differently. I have had an Xecret version on my charts for several months now.

Ian
  • #614
  • Nov 25, 2009 11:15am Nov 25, 2009 11:15am
Quoting lrathi
I like the reminded to be watching PA first and using TRIX of the higher TF for trend direction. Easy explanation to remember.

I continue to have great success with the 240-15-5 TF, my refining of trading plan is for my personal lifestyle commitments . Use of Time management and email alerts/SMS and a laptop with mobile internet broadband is what I am trying to add to the refinement of trading plan not the method so much. I am reluctant to say too much on refining my method as I am proofing it at this stage. I get too many questions thrown at...
I am leaning more and more towards trading exclusively "240 top down" also

I also have other activities that take my time away from trading, so focusing on the 240 TRIX keeps me in trades in the direction of the larger trend.
  • #615
  • Nov 25, 2009 11:19am Nov 25, 2009 11:19am
Quoting lrathi
Hope you do not mind me making this clarifications for others reading the thread.
Hello Irathi,

The more clarification the better .
TTFN Merlyn
  • #616
  • Nov 25, 2009 12:55pm Nov 25, 2009 12:55pm
Quoting Merlyn
Hello Paid,

It is a problem isn't it? I suppose it comes down to momentum and, bearing in mind we are actually trading a 240 (or 60 or 30) minute chart, we need to assess the momentum on the higher time frame before committing to a 5 min entry. Will switching to, say, a 240 chart still give meaningful readings from the indicators currently loaded onto the 5 min entry chart do you know? Or will different parameters need to be entered?
Good point.

Looking at my charts from last night, I can see a couple of errors.

In terms of the pivot/000 line, I bought right on it on EU and suffered drawdown as a result. But when it comes to GJ, I could have perhaps entered at the low of the candle, since the previous one had been a break away from the four before that which were struggling with the pivot.

I have also attached a 000 indi for people to use if they don't have one already. Change the settings from 50 to 100 if you still have a 4 digit broker or 1000 if you have a five digit broker.

PPP
Attached File(s)
File Type: mq4 Grid Builder.mq4   3 KB | 254 downloads
How do you make a small fortune in Forex? Start with a large one!
  • #617
  • Nov 26, 2009 5:24am Nov 26, 2009 5:24am
Hi all

Did the thread die or has time frozen

Pips to all

Gleneagles, if you want to reply, where are you situated in our beautiful country?

John from Durban
  • #618
  • Nov 26, 2009 5:55am Nov 26, 2009 5:55am
Quoting jmcl
Hi all

Did the thread die or has time frozen

It is Thanksgiving in USA, so the US session will have a much lower volume of traders, a good day to take a rest (and be thankful for this great system)

Best wishes and happy thanksgiving!!
  • #619
  • Nov 26, 2009 10:26am Nov 26, 2009 10:26am
Hi PPP...not been able to trade...my settings for the SwingMan Indies are 3,1,1,1,0 (=3,E,E,E,C), which I believe is as per the Manual. I use plain candlesticks, not the "smC4 Scalper Signals v1 (Settings: 8,3,1.0,1,1,1,0, 3,6) ( Has 1x MA filter)" as recommended in the manual.

Hope this helps.

Freddi


Quoting paidperpip
Good work Freddi!

I was in the same trade, but got in a little earlier.

I managed TP's 1, 2 and 3, and a little on the TS... Will post a chart directly.

Not sure how you have got your trix set up on your chart, but see if you have different values than me... I had a green light from late in the Asian session...

Top effort!

PPP
  • #620
  • Nov 26, 2009 6:13pm Nov 26, 2009 6:13pm
Quoting freddi
Hi PPP...not been able to trade...my settings for the SwingMan Indies are 3,1,1,1,0 (=3,E,E,E,C), which I believe is as per the Manual. I use plain candlesticks, not the "smC4 Scalper Signals v1 (Settings: 8,3,1.0,1,1,1,0, 3,6) ( Has 1x MA filter)" as recommended in the manual.

Hope this helps.

Freddi
Its all good. I thought I saw some differences in our charts, which could be attributed to broker feeds. Thats all. The main thing is that it is working for you.

I have also gotten rid of the Scalper Signals... they were only consuming CPU... There is more to go yet though...

PPP
How do you make a small fortune in Forex? Start with a large one!
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