MTF Trading System - fxozgirl Higher Time Frame spinoff

Post by **fxozgirl** » Thu Sep 11, 2014 2:56 am

diogou » Thu Sep 11, 2014 5:46 am wrote:Hey, thanks a lot for sharing this OzGirl!

One (probably dumbass) question: can I use the original MTF template for this, or do I need to use the attached indis to create a proper template for this spinoff? Everything seems to be showing alright but I want to make sure. All I did was shift the TF to the D1 and W1 on my charts (I use 2 charts per pair always opened).

Thanks in advance and wish you all a great day! Cheers!

Hi,

No problem using the original template, I just like my screen as clear as possible...whatever your personal preference is.

Cheers

Post by **fxozgirl** » Thu Sep 11, 2014 3:07 am

fxozgirl » Wed Sep 10, 2014 10:01 pm wrote:Trades currently open are:

AUDCAD Buy 15/8 currently -120 pips
AUDUSD Buy 29/8 currently -220 pips
CADJPY Buy 21/8 currently +248 pips, JS +150 pips
EURGBP Sell 26/8 currently -63 pips
EURUSD Sell 22/8 currently +346 pips, JS +300 pips
GBPJPY Buy 26/8 currently -57 pips, missed being able to move trade to BE+5 whilst I was away
GBPUSD Sell 25/8 currently +444 pips, JS +400 pips
NZDCAD Sell 1/9 currently +74 pips, BE +5 pips
NZDUSD Sell 22/8 currently +184 pips, JS +100 pips
USDCAD Buy 20/8 currently +48 pips
USDCHF Buy 20/8 currently +241 pips, JS +150 pips
USDJPY Buy 10/9 currently +48 pips

Current balance: $5705.94
Floating balance: $6268.82 (approx +1052 pips)

Current open trades:
AUDCAD Buy 15/8 currently -95 pips
AUDUSD Buy 29/8 currently -168 pips
CADJPY Buy 21/8 currently +286 pips, JS +200 pips
EURGBP Sell 26/8 currently -16 pips
EURUSD Sell 22/8 currently +371 pips, JS +300 pips
GBPJPY Buy 26/8 currently +31 pips
NZDCAD Sell 1/9 currently +133 pips, JS +50 pips
NZDUSD Sell 22/8 currently +212 pips, JS +100 pips
USDCAD Buy 20/8 currently +12 pips
USDCHF Buy 20/8 currently +271 pips, JS +200 pips
USDJPY Buy 10/9 currently +55 pips

No new trades opened today
1 trade closed overnight - GBPUSD Sell +400 pips after a retrace back to the JS

gbpusd_daily_mtf(2).png

Post by **fxozgirl** » Thu Sep 11, 2014 4:10 am

After re-reading post 1, I realised I missed out 1 more important entry rule.

In addition to the other rules already posted, for a Buy trade
(iv) Trigger candle must have closed ABOVE 3SMA

and for a sell trade
(iv) Trigger candle must have closed BELOW 3SMA

apologies for the oversight, I have now updated post 1 to include this criteria

Post by **intcust** » Thu Sep 11, 2014 4:33 am

what is the exit if a trade never makes it to the plus 100 pip level? Based on what I can tell it is just the color change on the weekly arrow? Is that correct.

Post by **fxozgirl** » Thu Sep 11, 2014 4:50 am

intcust » Thu Sep 11, 2014 2:33 pm wrote:what is the exit if a trade never makes it to the plus 100 pip level? Based on what I can tell it is just the color change on the weekly arrow? Is that correct.

At this stage, that is correct!

diogou · Post by **diogou** » Thu Sep 11, 2014 6:45 am

Do any of you use this with exotics? I'm going to demo this using all the 40+ pairs of GP, just to see what happens. Let's see what happens with all the mad correlation that must be about to happen in my future trades...

Wish you all a awesome day and/or night. Cheers! :hi:

Post by **fxozgirl** » Thu Sep 11, 2014 8:41 am

diogou » Thu Sep 11, 2014 4:45 pm wrote:Do any of you use this with exotics? I'm going to demo this using all the 40+ pairs of GP, just to see what happens. Let's see what happens with all the mad correlation that must be about to happen in my future trades...

Wish you all a awesome day and/or night. Cheers! :hi:

Hi, I don't trade the exotics mainly because the spread is generally very high, but possibly given this is a longer term strategy it may be suitable.

Let us know how you go

Post by **fxozgirl** » Thu Sep 11, 2014 8:43 am

After some requests, I have added my template to post 1. I have stripped back John's MTF template to only the bare indicators I am using. For me personally, I prefer as clear a screen as possible.

Cheers
Shelley

diogou · Post by **diogou** » Thu Sep 11, 2014 10:28 am

For closing purposes, do you check for changes on the weekly trend arrow on the weekly chart every day, or once a week? Thanks in advance, cheers!

Post by **fxozgirl** » Thu Sep 11, 2014 10:37 am

diogou » Thu Sep 11, 2014 8:28 pm wrote:For closing purposes, do you check for changes on the weekly trend arrow on the weekly chart every day, or once a week? Thanks in advance, cheers!

I like to wait until the weekly candle has closed as depending on what happens during the week, arrows may change before the end of the week.
Already this week, we have had pairs that have dropped dramatically & then risen again just as dramatically...I don't like to second guess the market and will wait until the end of the week.