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  • #921
  • Oct 26, 2010 7:47am Oct 26, 2010 7:47am
Quoting AllyB
Just sitting here and staring at my new charts. Don't pay any attention to the i_Sessions color as I don't have them set correctly yet. But look at the white vertical lines ... when all 3 line up ... $$$!!! If 2 line up $$

Nice
Hi AllyB

the smMFTTrio_AvgSignals indicator will tell you when the 3 trix line up, so having them on the bottom of your chart is not neccessary.
I 100% can understand why you would want them there, but I would encourage you to watch the signals, and price action.....understanding how price moves is something that does take time, the less indicators you have the more you will train your eyes to watch the price.

i would encourage you to trade this on demo for a bit, then very, very small ....trading with real money is way different than trading on demo.

Best wishes

PGPB
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  • #922
  • Edited 12:27pm Oct 26, 2010 9:31am | Edited 12:27pm
Quoting pgpb
Hi AllyB

the smMFTTrio_AvgSignals...
Thanks for the advice, appreciate it. Wasn't sure if i needed those extra indies or not. i really like the look of not having them on there though. just placed my first buy (on demo) so here goes! I couldn't get the strategy tester to work so the demo will have to do. And yea, I always make more pips on a demo than live

How long have you been trading this system?

Didn't like the looks of how it was going but went ahead and let it run until I was stopped out -30. Hopefully will get a better signal this afternoon.
  • #923
  • Edited 1:59pm Oct 26, 2010 1:43pm | Edited 1:59pm
+50 +30 +20

240 30
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" Never let the past hold the future to ransom "
  • #924
  • Edited 2:00pm Oct 26, 2010 1:45pm | Edited 2:00pm
+30 +30

240 30
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" Never let the past hold the future to ransom "
  • #925
  • Oct 26, 2010 2:42pm Oct 26, 2010 2:42pm
With caveman ea set at 40 SL and 20 TP
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We are all One. Be present. Be the Observer
  • #926
  • Oct 26, 2010 3:48pm Oct 26, 2010 3:48pm
Quoting Gleneagles
+30 +30

240 30
Just to confirm the 240,30 Is on a 15 TF
and 60,5 is on a 5 TF

Made some nice pips on EU and GU today 60,5 on 5 TF
  • #927
  • Oct 26, 2010 4:01pm Oct 26, 2010 4:01pm
+84

240,5 5M chart
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" Never let the past hold the future to ransom "
  • #928
  • Oct 26, 2010 4:04pm Oct 26, 2010 4:04pm
Quoting dryclean
Just to confirm the 240,30 Is on a 15 TF
and 60,5 is on a 5 TF

Made some nice pips on EU and GU today 60,5 on 5 TF
Hi,

Yup , I used a 15m chart for 240 , 30 but a 5m chart is also OK.
" Never let the past hold the future to ransom "
  • #929
  • Oct 27, 2010 2:51am Oct 27, 2010 2:51am
+30

60,15 15M

EUR 60 15 +2

Short 13795 stopped TS 20
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" Never let the past hold the future to ransom "
  • #930
  • Oct 27, 2010 3:42am Oct 27, 2010 3:42am
Got this 20 on U/J and a similar one earlier on A/U.
In my opinion there is a possible buy coming up on E/J at around 133.22
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We are all One. Be present. Be the Observer
  • #931
  • Oct 27, 2010 3:49am Oct 27, 2010 3:49am
Quoting Iamfx
Got this 20 on U/J and a similar one earlier on A/U.
In my opinion there is a possible buy coming up on E/J at around 133.22
Not my favourite pairs but if you can trade the Asian session , it is worth a look.

It certainly looks like you have a handle on it
" Never let the past hold the future to ransom "
  • #932
  • Edited 4:13am Oct 27, 2010 4:02am | Edited 4:13am
Quoting Gleneagles
Not my favourite pairs but if you can trade the Asian session , it is worth a look.

It certainly looks like you have a handle on it
Yeah thanks--still a long way to go. I think my back to front R/R may be my undoing---40 SL 20 TP.
Just wondering how you pick which mixture of timeframes for your trix settings--eg 240-- 5 240-- 30 etc or do you just pick one that looks the most likely?
We are all One. Be present. Be the Observer
  • #933
  • Oct 27, 2010 4:55am Oct 27, 2010 4:55am
Quoting Iamfx
Yeah thanks--still a long way to go. I think my back to front R/R may be my undoing---40 SL 20 TP.
Just wondering how you pick which mixture of timeframes for your trix settings--eg 240-- 5 240-- 30 etc or do you just pick one that looks the most likely?
You can use either 240M or 60M as your " trend indicator ".

240M is the safer option and will keep you out of most of the chop.
The downside is that you will miss some good trades on 60M that will be countertrend trades if compared to 240M trend.

If you want to target small gains of 12-15 pips , you can use 240 5 or 60 5 or even 240 5 1 or 60 5 1 .

The key is to trade in the direction of the trend, the entry trigger is obviously important but you have to get the trend direction right first.
" Never let the past hold the future to ransom "
  • #934
  • Oct 27, 2010 5:21am Oct 27, 2010 5:21am
240 15

+30

You can see from the screenshot that the previous short trade on 60 15 appears as a countertrend trade on the 240M , Roy indi 240M at bottom of this chart.

I trade both 240 and 60 on GBP.

I am in the process of ending of for month so I settled for 30 pips , you can obviously clock up a lot more pips if you trade bigger TF`s and hold trades once they are in profit.
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" Never let the past hold the future to ransom "
  • #935
  • Oct 27, 2010 5:32am Oct 27, 2010 5:32am
Quoting Gleneagles
You can use either 240M or 60M as your " trend indicator ".

240M is the safer option and will keep you out of most of the chop.
The downside is that you will miss some good trades on 60M that will be countertrend trades if compared to 240M trend.

If you want to target small gains of 12-15 pips , you can use 240 5 or 60 5 or even 240 5 1 or 60 5 1 .

The key is to trade in the direction of the trend, the entry trigger is obviously important but you have to get the trend direction right first.
Direction of trend is a tricky thing. What looks like a downtrend on 15m may be a clear uptrend on the 1hr. I'm wondering what method do you find to be effective?
We are all One. Be present. Be the Observer
  • #936
  • Oct 27, 2010 5:40am Oct 27, 2010 5:40am
Quoting Iamfx
Direction of trend is a tricky thing. What looks like a downtrend on 15m may be a clear uptrend on the 1hr. I'm wondering what method do you find to be effective?

the whole point of MTF trix trading is to trade in the direction of the trend.

If you are trading 60-15-5 you trade in the direction of the 60
If you are trading 240-5 ....you trade in the direction of the 240

By the way, I was going to mention....if I was you, I would trade one system, you have added bollinger bands and supertrend(trendmagic) to your charts.......they are not part of the trix method that Glen is teaching

Like yourself I have experimented with adding various indicators to help improve the trix method....but about a year ago I was trading only MTF trix....and I was doing great....then I started adding indicators and my success fell by the wayside.....now I am back to trading pure trix and my winning ratio is starting to come in line
Back when I was trading pure MTF trix....I would often get 10 or 12 trades in a row with no losses....then I decided to improve by adding more indicators......doh!!!

PGPB
  • #937
  • Oct 27, 2010 7:07am Oct 27, 2010 7:07am
I have done the round trip more than once...start of with a simple, effective and profitable strategy and add fancy wheels , leather seats and some more extras. In the process it is quite easy to lose the plot because you are convinced you are adding value and by the time your "enhanced system" does not produce anymore , you probably will dump it.


It is good to have an open mind about trading and to experiment with a setup that suits your risk profile and your own unique way of doing things.
BUT.....being consistently average is better than being occasionally brilliant.
If you are consistent , you know where to change/improve.

I keep my trading as simple as possible , the human mind is conditioned to look for the most complex solution first?

I made a startling discovery a few years ago when I looked at my trading record. When I examined my losing trades, I found that 100% of the losers came from trading in the wrong direction

You don`t have to use Trix as a basis , you can use any indicator. As long as you are consistent and trade in the direction of the trend in the timeframe that suits you , you will have an edge , enough to make you successful , is that not what trading is all about?
" Never let the past hold the future to ransom "
  • #938
  • Oct 27, 2010 10:46am Oct 27, 2010 10:46am
+2 +30

240 15 15M


I have now closed shop for the month.

If I get tempted to trade again before next week it will be on 240M charts only and probably short term trades.

I have posted enough charts now , the system is simple enough for even new traders to understand. If I have time next week , I will post a few tips that may be useful when taking entries.

Good luck and good trading

Edit: In case you are wondering why I skipped the short signal at 13h15 on the chart...I was waiting for NY to open.
Attached Image (click to enlarge)
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" Never let the past hold the future to ransom "
  • #939
  • Oct 27, 2010 1:11pm Oct 27, 2010 1:11pm
Glen,
Thank you for youre input and posting the charts last few weeks, we both know that the Trix system is very simple and works well.

and for all other traders who are follow this thread, do not make it to complicated to add extra indicators to do it a few pips better.
Accept losses time bij time and take the profits.

Dutchsignals
  • #940
  • Oct 27, 2010 1:13pm Oct 27, 2010 1:13pm
Quoting Gleneagles
+2 +30

240 15 15M


I have now closed shop for the month.

If I get tempted to trade again before next week it will be on 240M charts only and probably short term trades.

I have posted enough charts now , the system is simple enough for even new traders to understand. If I have time next week , I will post a few tips that may be useful when taking entries.

Good luck and good trading

Edit: In case you are wondering why I skipped the short signal at 13h15 on the chart...I was waiting for NY to open.
The system is simple ... no doubt about that. What I am finding hard is what settings to use on the smMTFtrio. I am trying to take into account that normally I trade the US open and the Asian open only. Can't seem to think clear enough at 3:00am EST to catch the London open Also, I only trade GBPUSD and EURUSD. I like to really know a pair before I trade it ... I get bit less often that way.

I like the looks of the 240M as a trend indicator. But I am thinking that the 60M may work better for my trading times and styles? I like the sounds of the 60 5 better than the 60 15 15 if i understand the settings correctly.

I trade from 5m chart , if you use smMTF with settings as shown it will mirror Royston with same setting ie 60 5. It is the easiest and safest way to trade it, no need to flip TF , you can also do multiple entries if you want to.

It looks to me like you monitor a M5 chart and when you get an arrow you like you just place your buy/sell at that time ... am I close?

The attached chart has the 60 5M setup.

Any suggestions would be greatly appreciated.
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