Thought it looked familiar. The reason I ask is that I have a Theodore Ohman Declaration of Independence. Best reproduction ever made. Dated 1942, I’ll upload a picture for you.
Actually instead of uploading a picture. Here is a link that shows one like it.
Western Slope Auction
Seems like a lot of work has been done on this system. A few seem to be struggling. Better to pass on a iffy trade then get in and lose.
I don’t know, Jaquille, did you trade on Friday?
Anyone still trading MMTT? See nobody in the chat today. 
Well, Shr1k and I have been in the chat and trading the past hour or so. Another bad day, even though I stayed away from all the trending pairs (particularly anything to do with the pound). I still ended up -33 pips and am stopping after reaching my percentage account loss maximum for the day.
Rui has been pretty much gone without a trace. He may still be having account troubles, last I heard he was moving back to his first broker after Alpari kept screwing up his deposits.
Sorry to hear this has not been a good day. Last week has been disastrous for me on MMTT.
I can’t see anyone on the chat. Something must be wrong with my browser. Hope Rui comes back soon, and so does the pips…
Hi,
Myself and Shr1k were in the chat room lastnight. Im new to this strategy and it was my first time trading it and ended up with about + 32pips on aud/usd and gbp/usd (demo atm).
Will most likely be there again tonight/today (depending on where you are!).
gbl83
i’ve been trying to fix some problems with my account but ill be back in there. it seems like the market (usually) makes its move for mmtt a short while after the london session opens and thats at 3:00 AM for me! sometimes my alarm clock doesnt do the job.
Hi Guys,
Just checking in here on Rui’s behalf. He has had ongoing account problems, coupled with a greater workload at both school and his job. He asked me to update you on some news regarding the continued evolution of this strategy.
As many of you who have been trading mmtt over the past two weeks already know, it has been brutal. The sworn enemy of this system is a strongly trending market and right now the market is trending like a mutha----er. :eek:
So some of us have been reading up on Tymen’s thread and the Hi-Lo thread to get some kind of a strat that will work with these trending markets.
In the meantime, Rui has also been experimenting with different indicators to use as “filters” to improve the success rate of mmtt and help prevent the dreaded “fakeouts” so often encountered with this system.
Today in chat we discussed what he has been using over the last few days, mostly in back-testing. Rui has been using a MACD and Stochastic indicator on his various charts and looking at how they might filter out false moves back towards the middle of the channel.
He is talking about using RCarter’s stochastic settings (10, 2, 4) on a 30m chart to enter when price is both outside the 2-period Daily Moving Averages AND the aforementioned stochastic lines cross. Rui is also talking about then using the crossing of the standard MACD to determine his exits.
I will let him explain further in subsequent posts, but we both agreed we’d like to update the thread and seek opinions from other traders who’ve been trading MMTT for awhile now.
Rui also mentioned asking me to start a new thread so he could close this one and start anew, as he felt there have been some off-strategy posts made by some now-banned person(s). But we can discuss that later.
What do you guys think of these new ideas?
Sounds like some interesting developments. Seems like most good trades happen early London session. Most big moves anyway.
Even when there is strong trending there may be a few candles that move the opposite way and maybe those are the ones that should be traded back into the channel using MMTT.
And the candles that are headed in the direcion of the trend, maybe those are the ones to use hi/lo
Trouble with ranges and trends is you don’t know youre in one utill after you are already in it.
prince… you´re almost correct. the stochs and the macd are in the 1H TF.
the confirmation will be in the 30 min or maybe in the 15 mins…
will explain it better when i got the time… maybe in the weekend… until there any help to test it is very welcome:p
Rui, this part is a bit confusing. Let me see if I understand the revised sequence of events for our trading MMTT:
a.) Check the Daily MAs for when price moves outside the channel, as always.
b.) Switch to the 1H TF to watch for the stochastics crossover; do not initiate any trades until this occurs.
c.) Then switch to the 30 or 15m TFs for HL/LH peaks or price giving a good entry against a TL or the stochs crossing there.
What would be the sequence of events you have been using recently to filter the fakeouts?
is exactly that sequence. of course we´ll not have all the trades that we use to be but those extra trades usually were losses anyway… so far the win ratio of that is huge… but is only being 5 days testing with 2 losses… 1 of them is because i skip the stochs cross and act by guess… and i still need to work in the exits but i may will use tymen bb teachings to do it…
So you are doing away with entries off the 5m TF?
no… the 5min higher low or lower high still are the best confirmation we´ll get, but we can´t look at them all. only the ones that happen after the stochs cross. i will keep always looking at the 5m and 15m charts to the PA but now with the stochs filter. so the first thing it should happen when we take a trade is:~
1-the price go out the dailly channel
2- stochs cross at the OB/OS zone.
3- smaller TF for confirmation if stochs are correct or not.
4- exit at the best point (still need to figure that one)
first 2 trades using this new rules of MMTT were winners !
hope to do better tommorow
thanks Rui
[QUOTE=ruilima22;179174] so the first thing it should happen when we take a trade is:~
1-the price go out the dailly channel
2-[B] stochs cross at the OB/OS zone.[/B] [B] stochs from what TF ? 1 hour i understand…is that correct ? [/B]
my trades were based on 1hTF stochs
I’m wondering which stochastic we might best use for MMTT. R Carter says he uses the fast stochastic on the higher TFs and slow stochastic on the shorter TFs.
I think the real test for this will be how it works when the daily candles are moving in a trend. If this keeps you out then it is a real improvement. MMTT works great as is when price is bouncing along. Its when it takes off that you get slammed with a bunch of small losers.
As Rui said its only a 5 day test so far. Can these new signals be looked at historically? Do they repaint and throw off any observations that can be made about how they would preform in a trend? I have not had a chance to even set this up or trade it yet so this is just some questions that jump to mind.
shr1nk you´re correct… like i told you mmtt cannot be tested in back history because the dailly MA channel keep move all day and in history we only can see the last position so any look at them will make everythink looks better then it is.
about strong trends just lets try to avoid them, any kind of counter trend trades in a strong trend is very risky so the deal is can we figure when there´s a strong trend??? i think this is possible with higher TF bollinger bands but need alot of study on them…
the question is not if we should or shouldn´t take a trade against a strong trend but for how much pips we will go…