Eaglets Flight Training School | Page 44 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Forex Training: What to Look for in a Forex Training Program 1 reply

Quit Job , go Back to School, Trade Forex? 33 replies

Can forex trading help with a MBA school admission ? 1 reply

Attachments: Eaglets Flight Training School
Exit Attachments

Eaglets Flight Training School

  • #861
  • Oct 18, 2010 4:14am Oct 18, 2010 4:14am
Quoting Gleneagles
The grey boxes are just a trading session indicator as shown.

I have set it up to identify the 3 hour range prior to 05H00 GMT when I start looking for entries.
A breakout of that range will be a valid entry signal for me if confirmed by Trix.

Please note that I am on GMT +2 so you have to adjust your settings to adjust to your broker time.

PS Euro 5m chart from Friday in screenshot
G'day Glen
Would this have been a valid trade or do you wait for a fresh signal near the breakout of the small box?
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-10-18_2007_glen_trix.png Size: 174 KB
We are all One. Be present. Be the Observer
  • #862
  • Oct 18, 2010 6:20am Oct 18, 2010 6:20am
Quoting Iamfx
G'day Glen
Would this have been a valid trade or do you wait for a fresh signal near the breakout of the small box?
G'day,

That is valid trade for me. Are you using a 30m trend setting?

The move from open during Asia was quite a big one , there was not much left of the average daily range so if you took the trade , settle for a smaller bite in this instance.
" Never let the past hold the future to ransom "
  • #863
  • Oct 18, 2010 6:44am Oct 18, 2010 6:44am
Quoting Gleneagles
G'day,

That is valid trade for me. Are you using a 30m trend setting?

The move from open during Asia was quite a big one , there was not much left of the average daily range so if you took the trade , settle for a smaller bite in this instance.
No --- setting is 15 15 60
This was an example from the 13th Oct.
I made 3 trades tonight and using the Update stops ea 2 were moved to breakeven when they hit 15 pips(and were later stopped out) and the other trade I closed at +6. I had been up a total of around +40.
Are you still using a trade management ea?
P.S. Any luck with that new software you mentioned on the Cable thread?
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-10-18_2237_15_15_60.png Size: 205 KB
We are all One. Be present. Be the Observer
  • #864
  • Oct 18, 2010 8:26am Oct 18, 2010 8:26am
Quoting Iamfx
No --- setting is 15 15 60
This was an example from the 13th Oct.
I made 3 trades tonight and using the Update stops ea 2 were moved to breakeven when they hit 15 pips(and were later stopped out) and the other trade I closed at +6. I had been up a total of around +40.
Are you still using a trade management ea?
P.S. Any luck with that new software you mentioned on the Cable thread?
OK, I see it now if I zoom in. No news yet on the software.
I use THV Cavemanager mainly to manage the trades .
" Never let the past hold the future to ransom "
  • #865
  • Oct 18, 2010 11:40am Oct 18, 2010 11:40am
+30 +30

No EA on this laptop , so I set TP and left it.

Because of the large ( +100 pips ) range on Eur during the Asian session , I skipped the short trade during London session and took the long trade for +30 messy pips.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_01 Oct. 18 18.24.jpg Size: 115 KB
" Never let the past hold the future to ransom "
  • #866
  • Oct 18, 2010 11:42am Oct 18, 2010 11:42am
+30
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_02 Oct. 18 18.31.jpg Size: 104 KB
" Never let the past hold the future to ransom "
  • #867
  • Oct 18, 2010 12:29pm Oct 18, 2010 12:29pm
Hi Glen,

a question at your last chart you post on the forum, and some other posts before,
you enter the trade but the trix indicatore is already a long time blue??
which time frame is this?
I use the rules in the 5-15-60 minutes,enter trade after 3 blue or red blocks 2 pips above high or a limit order when previous bar makes an higher high.
do you change something in your trading conditions??

Willem
  • #868
  • Oct 18, 2010 1:14pm Oct 18, 2010 1:14pm
Quoting dutchsignals
Hi Glen,

a question at your last chart you post on the forum, and some other posts before,
you enter the trade but the trix indicatore is already a long time blue??
which time frame is this?
I use the rules in the 5-15-60 minutes,enter trade after 3 blue or red blocks 2 pips above high or a limit order when previous bar makes an higher high.
do you change something in your trading conditions??

Willem
Hi Willem,

I use the smMTFTrioAvg indi with Trix setting. It will often pick up the signal earlier than the Royston indi, on 60m for example , the signal will at times be 60m later (on next candle) if you use Royston .

On the examples I posted earlier you can see it as well.

The colour bar on the bottom of the charts I posted is not part of the entry or trade requirements , it is not a Trix indi and is only there to give me a quick visual (long/short) when I have to watch a few pairs on different monitors.
" Never let the past hold the future to ransom "
  • #869
  • Oct 18, 2010 2:45pm Oct 18, 2010 2:45pm
Quoting Merlyn
Thanks Glen,

I have actually been experimenting with 60,30,15 having found that the 5 min Trix tended to get me in a bit too late on some moves which left my break-even stop-loss too vulnerable. Using 5 and 1 to refine entries.
So, NOW it's the old crew back together! Where's indrek by the way?

So Glen, do you still flag the arrow on the higher timeframe, then flip it, then mark the breakout point the lower time frame needs to breach before entering?

Thanks

Darren
  • #870
  • Oct 18, 2010 3:13pm Oct 18, 2010 3:13pm
Quoting pilotui
So, NOW it's the old crew back together! Where's indrek by the way?

So Glen, do you still flag the arrow on the higher timeframe, then flip it, then mark the breakout point the lower time frame needs to breach before entering?

Thanks

Darren
Hi Darren,

I have made a few changes but the core remains the same. I am using the indi mentioned earlier instead of the Royston one we used before.

You should pick it up quite easy by just eyeballing the charts.
I trade GBPUSD and EURUSD 60m and GBPUSD 240m with the odd EURUSD 240m at times.

I will post the trade results of a month during the week to give you an idea of the average pip gain as well as the hitrate % .
" Never let the past hold the future to ransom "
  • #871
  • Oct 18, 2010 3:28pm Oct 18, 2010 3:28pm
Quoting Gleneagles
Hi Darren,

I have made a few changes but the core remains the same. I am using the indi mentioned earlier instead of the Royston one we used before.

You should pick it up quite easy by just eyeballing the charts.
I trade GBPUSD and EURUSD 60m and GBPUSD 240m with the odd EURUSD 240m at times.

I will post the trade results of a month during the week to give you an idea of the average pip gain as well as the hitrate % .
Good to be back. Happy to be mulling over charts with you guys.
How do you make a small fortune in Forex? Start with a large one!
  • #872
  • Oct 18, 2010 4:59pm Oct 18, 2010 4:59pm
Quoting Gleneagles
Hi Willem,

I use the smMTFTrioAvg indi with Trix setting. It will often pick up the signal earlier than the Royston indi, on 60m for example , the signal will at times be 60m later (on next candle) if you use Royston .

On the examples I posted earlier you can see it as well.

The colour bar on the bottom of the charts I posted is not part of the entry or trade requirements , it is not a Trix indi and is only there to give me a quick visual (long/short) when I have to watch a few pairs on different monitors.
Hi Willem,

I have picked up that the price feed that I use (Alpari UK) will in some instances give different signals on smMTFTrio compared to IBFX and FXCM price feed.
I will run a test tomorrow on Royston indi with all 3 price feeds to see whether it affects the signal.
" Never let the past hold the future to ransom "
  • #873
  • Oct 18, 2010 7:32pm Oct 18, 2010 7:32pm
Quoting Gleneagles
Hi Darren,

I have made a few changes but the core remains the same. I am using the indi mentioned earlier instead of the Royston one we used before.

You should pick it up quite easy by just eyeballing the charts.
I trade GBPUSD and EURUSD 60m and GBPUSD 240m with the odd EURUSD 240m at times.

I will post the trade results of a month during the week to give you an idea of the average pip gain as well as the hitrate % .
Got, it thanks!
  • #874
  • Edited 11:42pm Oct 18, 2010 9:57pm | Edited 11:42pm
Just a reminder to myself and others---with Glen's setting of 15 15 60 and by watching the 5 min chart the signal needs to be taken 2 bars after it has printed or after the 15 min bar has completed ,otherwise it can disappear. Can someone correct me if I'm wrong.
We are all One. Be present. Be the Observer
  • #875
  • Oct 19, 2010 12:54am Oct 19, 2010 12:54am
Quoting Iamfx
Just a reminder to myself and others---with Glen's setting of 15 15 60 and by watching the 5 min chart the signal needs to be taken 2 bars after it has printed or after the 15 min bar has completed ,otherwise it can disappear. Can someone correct me if I'm wrong.
You are correct, the smTrio will identify the level where the trend will change but if the price retrace within the current candle , the arrow will disappear.

It will give you an earlier entry in some instances but can also give you a false signal if you don`t "mark" the level where the trend change.

Broker differences will also affect the way smTrio operates .
I will put a Royston 60m bar at the bottom of my charts because it is not as price sensitive and should read the same for all brokers.
" Never let the past hold the future to ransom "
  • #876
  • Oct 19, 2010 1:10am Oct 19, 2010 1:10am
Quoting Gleneagles
You are correct, the smTrio will identify the level where the trend will change but if the price retrace within the current candle , the arrow will disappear.

It will give you an earlier entry in some instances but can also give you a false signal if you don`t "mark" the level where the trend change.

Broker differences will also affect the way smTrio operates .
I will put a Royston 60m bar at the bottom of my charts because it is not as price sensitive and should read the same for all brokers.
This being the case, to be conservative, is it better to simply watch the 15min chart wait for the 15 min to close and take the signal?
We are all One. Be present. Be the Observer
  • #877
  • Oct 19, 2010 1:30am Oct 19, 2010 1:30am
Quoting Iamfx
This being the case, to be conservative, is it better to simply watch the 15min chart wait for the 15 min to close and take the signal?
The conservative approach remains the Royston indi.
It is also easier to trade because the colour change is a confirmed signal.
" Never let the past hold the future to ransom "
  • #878
  • Oct 19, 2010 6:36am Oct 19, 2010 6:36am
+29 on the CAD this morning
Attached Image
  • #879
  • Oct 19, 2010 8:24am Oct 19, 2010 8:24am
Quoting pgpb
+29 on the CAD this morning
Hey, nice trade. Could you please walk us through it step by step?

5M chart right?

smTrioAvgsignals_V6?

15,15,60 settings?

Also, I notice that your royston blocks were not in agreement when you took the trade.

Also, can you post a template...I've been going through all my Glen stuff over the last year and frankly have no clue which template is legit.

Thanks!
  • #880
  • Oct 19, 2010 9:46am Oct 19, 2010 9:46am
Quoting pilotui
Hey, nice trade. Could you please walk us through it step by step?

5M chart right?

smTrioAvgsignals_V6?

15,15,60 settings?

Also, I notice that your royston blocks were not in agreement when you took the trade.

Also, can you post a template...I've been going through all my Glen stuff over the last year and frankly have no clue which template is legit.

Thanks!
Actually, the 29 pips that I took are looking pretty insignificant right now, USD is blasting up, I am at work and I set a profit target because I could not babysit the trade.

I am going to take the royston blocks off my chart, as they could possible cause some confusion, the indicator says yes, the block say "not yet" = confusion

I also waited until price took out the the most recent high

I know that Glen has an indicator at the bottom of his charts that gives a quick visual (long/short) as he watches a number of pairs.

I use the zigzag indicator (I am embarressed to say that as it is like using training wheels when riding a bike) to see if price is making higher highs or lower lows......I will take a trade if.....I get a signal from the smTrioAvgsignals_V6 indi, and (for long entries) price has made higher low

I waited until price took out the most recent high....and I had a signal arrow

I am going to keep the one hour trix on the bottom of the chart just for sanity check

See image (5 minute chart)
Attached Image
0 traders viewing now