The MMTT system- nonbrainer edition

[ruilima22]

Thanks Rui for all your work. I’ll be testing this system, I think it fits with my personality. Unfortunately maybe I’ll have to wake up at 4:00 am to catch the London open and make some pips like you do! I don’t mind if it’s worth it.

I always wondered why you did not used bigger lots for trading. Obviously you have confidence in your system and it’s always profitable for you. You don’t have to answer if you feel it’s too personal and you have your reasons I understand it.

Up to date I already have 2 losses for -11 pips and 2 wins for 51 pips, and I saw that I missed a trade that I would have made at least 20 pips.

Again thank you and good luck

the only thing that keeps me (or anyone) away from blow an account is the risk management. i use to risk less than 0.5% of my account per trade. now i´m risking 1% of my account per trade… and even if i´m trading with a small% of the profits i had already withdrawall from forex, the emotions that risking 1% per trade brings are very strong. an hour ago i was 140$ in profit then some news releases about oil made me lose almost everything in a couple minutes… how do you think i´m feeling now??? how do you think how would i feel if instead of 1% risk i had use 2% risk and see 300$ going back to the market in a minute.

trade is all about control the emotions. if your heart is beating to hard when you´re trading that means you´re risking too much.

[ruilima22]

this is the first time i´ll post the results of the day in here and they were terrible.

everyday i check for news relieases in the morning and i´m very alert for them all day… today at 2:30 pm all my trades turn down on me and i went from a great profit level to the ground in a couple minutes… guess it was some oil news release… but no one told me about them

i still have two trades running and they are both with SL at BE… as soon as i close them i post here the results… the bad results for today:(

[gogoprovost]

the only thing that keeps me (or anyone) away from blow an account is the risk management. i use to risk less than 0.5% of my account per trade. now i´m risking 1% of my account per trade… and even if i´m trading with a small% of the profits i had already withdrawall from forex, the emotions that risking 1% per trade brings are very strong. an hour ago i was 140$ in profit then some news releases about oil made me lose almost everything in a couple minutes… how do you think i´m feeling now??? how do you think how would i feel if instead of 1% risk i had use 2% risk and see 300$ going back to the market in a minute.

trade is all about control the emotions. if your heart is beating to hard when you´re trading that means you´re risking too much.

I know what you mean but come on, how would you feel if a +100 pips trade was going on ? Don’t be so negative

You would have the same heartbeat but i a good way. But it’s ok you do what works for you and it works very well.

I wanted to ask, is the PM of the London session a good time for trading your system? For my first day testing it (on a Friday…) it went very well. It overlaps with the New York session so I guess volume is high enough?

[ruilima22]

I know what you mean but come on, how would you feel if a +100 pips trade was going on ? Don’t be so negative

You would have the same heartbeat but i a good way. But it’s ok you do what works for you and it works very well.

I wanted to ask, is the PM of the London session a good time for trading your system? For my first day testing it (on a Friday…) it went very well. It overlaps with the New York session so I guess volume is high enough?

if you ask to alot of seasoned traders and pro traders they will tell you that if you get excited when you´re trading them you´re doing something wrong.

my interpretation of that is that a trade should not make you feel notthing… no excitment and no disapointment. but i´m very excited when i have good results of course… but not because the money i win, is because the perspective of knowing that i´m in the good track… and knowing where that good track can lead me (ferrari:D)

and all i trade is london session… i trade all the session but a lot of trades happen at PM…

[gogoprovost]

if you ask to alot of seasoned traders and pro traders they will tell you that if you get excited when you´re trading them you´re doing something wrong.

my interpretation of that is that a trade should not make you feel notthing… no excitment and no disapointment. but i´m very excited when i have good results of course… but not because the money i win, is because the perspective of knowing that i´m in the good track… and knowing where that good track can lead me (ferrari:D)

and all i trade is london session… i trade all the session but a lot of trades happen at PM…

Ok thanks for the clarification. I’ll start with the London-New York overlap, If I can get around 50 pips per day it’ll be enough for me for now. The opportunity to get as much pips as you sure is exciting though.

[ninety9]

Ok thanks for the clarification. I’ll start with the London-New York overlap, If I can get around 50 pips per day it’ll be enough for me for now. The opportunity to get as much pips as you sure is exciting though.

Trading is pretty much over till Monday. Try not to hold over the weekend it costs money.
Rui, sorry you gave up the money again. I got +20 pips today.
All have a good weekend until Monday.

[gogoprovost]

Trading is pretty much over till Monday. Try not to hold over the weekend it costs money.
Rui, sorry you gave up the money again. I got +20 pips today.
All have a good weekend until Monday.

Yep over for now, watching the markets now is like watching 2 snails fighting.

[ruilima22]

ok. just closed my last two trades for today… the snails fighting:D

terrible day. the worst was that at some point i was with a lot of profits and i still don´t know what happens at 2:30 pm to the price returns so fast:confused: all i found was those news about oil!!

anyway i made 14 trades today… the only pair that haven´t gave me a entry setup was eurgbp… unfourtunelly:(

from those 14 trades 8 where losses and 6 winnings. i had end the day with a 31pips loss. and a 2% loss of my account.

so total for the week was a 14% gain on my account in 4 days because i haven´t trade on monday… not bad at all… i think:p

hope to do better next week

[gogoprovost]

Can somebody tell me why my graphs are all messed up? I mean the candles are not aligned and it messes up the moving averages. Only AUD/USD, NZD/USD and USD/JPY look normal, the other major pairs I trade are not aligned well.

How can I trade MMTT if the moving averages are not exact?

[ruilima22]

that´s sunday gap and usually is not that big… try to avoid trading pairs with big gaps on mondays…

[ninety9]

@gogoprovost

Can somebody tell me why my graphs are all messed up? I mean the candles are not aligned and it messes up the moving averages. Only AUD/USD, NZD/USD and USD/JPY look normal, the other major pairs I trade are not aligned well.

How can I trade MMTT if the moving averages are not exact?

don’t see your problem, candles can’t mess up, they come from the broker your chart shows bollinger, the 2 MA and 2 pink line, I assume this are the highest and lowest daily lines. Whenever the system is above/below trade towards them. Done.
Add MTF from his description and his BBands stop1 and the chart will look my 2nd chart.

[ninety9]

After that take your pink lines out, MTF is doing there job.
Rui did a great job, I like his simple system.

Rui, I missed that on his chart. darn

[ruilima22]

today is being a good day.

my chat partner bradu75 had already made 20% return today and he´s alredy stop trading for today.

i´m still in…only stop when the fat lady sing

[ninety9]

today is being a good day.

my chat partner bradu75 had already made 20% return today and he´s alredy stop trading for today.

i´m still in…only stop when the fat lady sing

Good :).
I really think I have to get up earlier and trade the london. Looking at the charts I would have to get up about 3AM. Ohhhh Boy

[ruilima22]

Good :).
I really think I have to get up earlier and trade the london. Looking at the charts I would have to get up about 3AM. Ohhhh Boy

move to europe:D

[gogoprovost]

@ninety9

don’t see your problem, candles can’t mess up, they come from the broker your chart shows bollinger, the 2 MA and 2 pink line, I assume this are the highest and lowest daily lines. Whenever the system is above/below trade towards them. Done.
Add MTF from his description and his BBands stop1 and the chart will look my 2nd chart.

Ok I’ve attached the BBstops and MTF and I’ve kept the normal BBands but my chart does not look like yours… see below

Also, I’m having some difficulty to understand this new setup, it seemed more simple before. But it seems more profitable so I’ll keep checking at it until I figure it out.

Thanks for your help Gentlemen

[ruilima22]

Ok I’ve attached the BBstops and MTF and I’ve kept the normal BBands but my chart does not look like yours… see below

Also, I’m having some difficulty to understand this new setup, it seemed more simple before. But it seems more profitable so I’ll keep checking at it until I figure it out.

Thanks for your help Gentlemen

you need to be looking at 5min TF

[gogoprovost]

you need to be looking at 5min TF

Ok but it does not look like yours

I figured the BB stops, I’ve put the settings to what you said on the 1st page of this thread and it looks the same as you. For the MTF moving averages I don’t understand how to set them…

I’va attached a print screen

[ninety9]

Keep trying Rui told you the good news TF5mins not daily, No need for the daily anymore since Rui gave the MTF. MTF 1440 = 24hours, that’s the daily.

[ninety9]

Ok but it does not look like yours

I figured the BB stops, I’ve put the settings to what you said on the 1st page of this thread and it looks the same as you. For the MTF moving averages I don’t understand how to set them…

I’va attached a print screen

Go back to page 2 at my post 15 there are the setups for the MTF. You have to setup 2 MTF, each has the settings my little pictures shows you.