MMTT- countertrend trading

this will be the thread for the system i´m using now.

i don´t want to be blamed by any losses caused by trading this system… trade your money at your own risk.

this is a countertrend system… so it´s against the things most of the pros say about trading (follow the trend and blablabla). so because of that think twice before try this:o

things needed to trade this:

1-multitimefram moving average. (you can find it in the MMTT thread)

2- fibonacci tool (just for drawing facility).

settings for mtfma:

1- timeframe 1440
ma type-2
ma price-2
ma lenght-2
2- all the same but ma price-3
3- all the same but ma price-4
(it will be the same mmtt channel talked in the other thread)

fibonacci levels nedeed: -0.5, 0, 0.5, 1, 1.5

besides that we need 10 minutes at the close of the dailly candle (midninght for me) to place some pending orders for the next day.

i trade 10 pairs at the moment… in those 10 min.

I’ve always have been interested in your MMTT system yet I’ve never given it an honest try. I think next week I’ll check it out and see how I can wrap my brain around it.

hey Rui
I’ve been doing my own version of MMTT for a some time now. Some days it is great! some days it sux! lol. I will try this new version.

hi guys. lets see if we can turn this into a “holly grail”:stuck_out_tongue:

how can we put pictures now?!?!?

they mess up this forum real bad:(

Rui
If you double click on the +Reply to Thread, or if you click on +Reply to Thread one time and then click on the ‘Go Advanced’ then it will bring up the old screen where you can attach pictures

thanks talonD.
this is how the chart should look like at the end of the day(close of the candle)

lets supose that the fibs level would be form top to bottom: 1.5, 1, 0.5, 0, -0.5

so basicly what i do is to place a pending sell at the 1.5level with TP at -0.5 and a pending buy at -0.5 with TP at 1.5level.

no SL, i add positions to losing trades and i hold some losses for some time… basicly what no one should do in trading:rolleyes:

this is the core of what i do… a lot more rules needed to save the account and don´t blow it:o… soon

I also add positions but limit it to a total of 3 positions. how big is your trade size? compared to your account size? I am using 1:1 leverage. So if I have 1000 in my acount then each trade is 1000. This may be a little too much to put on each trade.

what a bad weekend:( the cops took me 500€ because i drink 2 beers… the beautifull thing is that 20mins after i pay the bill i remade the test and i don´t had too much alcohool any more… 20 mins more in the party i would save a lot of cash… worst than forex.

well i will post the entire system this week. i´ll just try to get to the 1000 post along the way… so be patience:)

Good to see the new version

anybody pls post the template(*.tpl) mt4 file for the system, so that it will be easy to set

thanks in advance

oi sijeeva… with you there´re already 4 people posting in this thread:o… it will be more

don´t use the system yet… it´s still not completed… i will take some time to post it.

i will post pictures of the trades i´m in right now…

its one indicator on a chart. granted the indicator is on the chart twice I am sure you can set it up. this is the indi

http://forums.babypips.com/attachment.php?attachmentid=11854&d=1270764828

here are the settings

the mtfmovingaverages settings are: first: 1440;3;2;2 colour blue the second: 1440;3;3;2 colour dark pink.

from here you should look this over.
http://forums.babypips.com/free-forex-trading-systems/33514-mmtt-system-nonbrainer-edition.html

that one is the only one with no SL at BE yet… and for some reason i can´t see i miss the uchf entry… hope i don´t regret it

this one i think talonD catch it too :wink:

that i will probably close today… i´m still thinking about it

i forget to enter the uchf setup and it could be at +60 right now and i caught the ujpy and it´s -31pips :frowning: lack of concentration is never good

ok.

so the system that i had use in october and that makes me 93% profits in that month is the one i will post right now. in november i realized that it needs some “safety rules” to avoid some pretty bigs drawdowns. i will tell those safety rules later

woot, exciting to see you back. was coming on to bump the old thread and saw the new one, awesome!