The mmtt system

That was sweet!

Jaquille

It seems like you are scalping? Going after multiple small wins? Or once you set your stop at BE +2 or +3 then you let it ride however far it will go ?

middle of the 2ma daily channel may be a good target acording to M.Prince

Anyone know what caused that huge drop this afternoon? Usually that’s a quiet time.

Feds announced rate hike.

High fives to you, Jaquille. Thanks for sharing the indicators and templates.

I should pay more attention to news !

Jaquille you’re hijacking the thread; though thank you for presenting the method, I’ve followed the cheetah thread and made some pretty scalps today with the method.


Going back to the mmtt method, I’m happy to say this week, trading mainly this method I’ve made about 40% on my account. It is a small account but I’m finally making consistent system based trades I’m happy with.

I slightly modified the system to suit my needs so I’ll post it here so that others in my situation see how I’ve adapted with this method.

All indicators are set up the same. I look at the start of the daily candle and see if it is outside the MAs. As soon as the new daily candle starts, I take a position back towards the line with a TP of 30 pips. I realize I lose a lot of profit, but I don’t have time to manage trades manually. It’s set and forget and so far has produced 14 straight wins for me so I’m satisfied.

I’d like to thank you for presenting the system; I’m grateful!

I don’t know about Jaquille hijacking the thread but his stuff help me hijack some pips tonight. :smiley:

The candle went below the D1 MA LOW line. Then I waited for the 2 bar high just like he said and BINGO!!

Does your broker start the new day at the end of New York? and what are you doing for a stop?

I’m with IBFX so the daily candle is at 7:00pm EST/ 12:00GMT. I’m pretty sure it’s around the open of the Asian session, just not sure whether it’s RIGHT at the open; I’m unsure of this.

In terms of stops I use a 50 pip stop. I know what I’m going to get back posting this, STOP LARGER THAN PROFIT TARGET…yes…I know. The only reason is because I don’t manually trade each position. I’m just not at the computer. Now I’d appreciate input on it though because I do realize a losing trade means I’m losing more than I win. The only reason

I have the stop set so high is because trades on the daily tend to go in the direction of the previous candle before reversing back in the direction I’d like. The fact of the matter still remains I can’t watch for the reversal :frowning:

In terms of stops I use a 50 pip stop. I know what I’m going to get back posting this, STOP LARGER THAN PROFIT TARGET…yes…I know. The only reason is because I don’t manually trade each position. I’m just not at the computer. Now I’d appreciate input on it though because I do realize a losing trade means I’m losing more than I win. The only reason

I have the stop set so high is because trades on the daily tend to go in the direction of the previous candle before reversing back in the direction I’d like. The fact of the matter still remains I can’t watch for the reversal

I have no problem with that if your account continues to grow :smiley: Do what works not what everyone says to do. I am interested in this because it happens at a time of day I can trade. Thanks I will look into this.

Haha that’s the only defense I have to the onslaught of 'OMG WHY’s I thought I’d get :stuck_out_tongue:

Yeah definately try it out, seems to work great and I hope it’s not just how this week’s been. I’m using this live and will continue to use it so I’ll keep track of my progress.

Are you implying my posts are off the subject of MMTT?

Sorry, earlier I began to see more cheetah than mmtt; now I see more mmtt :smiley:

I combined MMTT with the 2 bar break out. Once price crosses over the DAILY SMMA(2), I then look for the 2 bar break out back towards the DAILY SMMA(2) line. It’s another way of triggering the MMTT entry.

The black spots show where the M5 2-bar triggers were on each candle. Another quick kill for the cheetah.

is nice to see that everyone is starting to make good profits with this system… is about time :stuck_out_tongue:

new interpretations of the system is good but need to be more expalained… i don´t get it how you use it SOUL786.

any one starting with this system are always welcome at the MMTT chat
Trading MMTT - FX Trading to take the doubts…

Nice little run starting on bar(2) for 10 pips.

Hi Jaquille,

Thanks for the indicators. Do you just use the D1 2-bar as reversal points or do you also use the M5 2-bar as well? I’ve managed to have the D1 2-bar setup on my MT4 with your indicators but I can’t create a M5 like you do on your posts.

Thanks.

Hi Jacquille,

Ignore my last message - I realised I can add on the indicator several times and just change the period to achieve what you have shown. :o

Once again, thanks a lot for the indicators!