Will I need to change the indicator?
Shr1k, I agree that it seems that if you don’t get active during the first half of London you miss out on a lot of great trades. The charting thing is a PITA and I am trying to get an Alapri demo set up so I can trade Mondays without having a Sunday candle, like those of us with FXCM do.
jaquille, if you mean the 2-period smoothed Moving Averages, no they are the same. The PDF just has some expanded information on managing stop losses correctly and making more precision entries.
I think Jaquille is in the zero indicators camp. But this MMTT is at it’s basic a price action method of trading using an extreme of daily price as a fulcrum. Should be right up your jungle trail yeah?
I keep saying I need to change my daily schedule so I can trade London open if I ever really want to get anywhere. So that’s what I’m going to start working on asap.
John, Rui, Shr1k and everyone that contributed to this. thanks a lot. Its very helpful. I’ve still yet to enjoy the large pips that I see everyone else is making but I hope to get there soon.
Cheers.
Just read through the PDF. Looks good.
It’s interesting to look at this strategy which is almost the opposite of a strategy in another thread in this forum that is really popular - the Cheetah in the Daytrading section of the forum. Basically its trading the breakout of the 2 day absolute high or low , while on the other hand, the MMTT is trading the retrace from price breaking out of the 2 day average of the high or the low.
I wonder if it would be a good idea to trade both strategies at the same time to maximize profitability?
Check out the thread in the Show Me the Money - Daytrading section
thread called The Cheetah
It’s just like deja vu all over again
In some of the early posts of the forum there was an indicator on someone’s chart that was drawing a line segment on the value of the 2-day MA’s of the High and the Low for the span of each day when zoomed into the 5Min chart.
Does anyone know which indicator this is and where to get it?
for the indicator. on the page where it shows this thread and all the other threads. Next to this thread there is a paper clip symbol. if you click on that it shows all the attachments to this thread and one of those is the indicator. it would end in .zip
That’s the easiest way to search for it cause I don’t remember which post it was in.
For anyone curious, I posted my results this week with MMTT, along with some notes and screenshots at:
(You can also register and join us on Vyew sharing screenshots, live desktop views of us trading and voice coms.)
I have only been trading MMTT for the past three weeks and most will tell you I have been both slow to pick it up and have had some really [I]galactically[/I]-terrible luck. But even so, I have started to round the corner and things are really falling into place!
I still on occasion enter poorly and let some losses slip past me to my max stops, but I am getting better. I only traded two days this week, as we had a bank holiday on Monday and I also felt that day’s candle would screw up our 2-period MA for Tuesday, as well.
But with all my mistakes and just two days of trading this system, I am up +160.3 pips for the week. 
Chart showing the D1 MA high and low along with the D1 2-bar breakout. I do not see a reason for trading both. The zip file contains the template and indicators.
Enjoy! 
MMTT_DAILY_SMA.zip (13.6 KB)
Nice meeting you on the Vyew.
In the VYEW chat today, it looks like we “discovered” that trading the M5 2-bar break outs that occur outside of the MMTT SMAA lines are profitable. The chart shows the M5 2-bar high breakouts below the low D1 MA line were near perfect entries almost every time.
The MMTT D1 reversal is achieved by trading the M5 2-bar break out in the same direction.
Example of short MMTT trade.
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Price crossed above the daily MA line.
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Price stopped and reversed.
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Price crossed M5 2-bar low 124.38 ( the low of the last blue candle )
LOOK MA, NO TRENDLINES!!
Another example of the MMTT reversal set up with the M5 2-Bar break out trigger.
jaquille - what is this M5 2 - Bar that you are talking about ?
thanks
Does anyone trade audjpy?
The 2 bar high breakout is entered when the current price is equal to the highest high of the previous 2 bars.
The 2 bar low breakout is entered when the current price is equal to the lowest low of the previous 2 bars.
The stop loss is a function of the trade risk and the position size. Profit is taken if and when available.
If the price moves to entry +5 or more in less than a minute, the stop is moved to entry +2 or entry +3 to become a break even stop.
If the price takes longer than a minute to move to entry + 5, any profit available is taken.
This 2 Bar Breakout is used to enter the MMTT D1 SMAA(2) REVERSAL.
If the candles are below the D1 MA LOW LINE then the 2 bar High breakout is taken.
If the candles are above the D1 MA HIGH LINE then the 2 bar Low breakout is taken.
In the chart, the M5, H1 and D1 2-bar lines are displayed. They are all valid entries.
Possible trade.
May be too late? :mad: