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 Hercules
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  • Last Online:
  • Oct 10, 2017
  • Using Local Time:
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  • Joined Forex Factory:
  • Feb 2013
Input by Hercules
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Feb 8, 2013
 Hercules
21.Keep focussed, avoid distrations. These stop you doing the constant anlysis that MUST be done to succeed
22."Don't Panic". Ford Prefect I think
23. Keep looking to see if trend has developed in TF+1 and TF+2, typically shown by slow trix above or below zero line; if it has do not be against this without exceptional reasons
24.Analyse, analyse,analyse
25.Stick to the strategy at all times.
Feb 8, 2013
 Hercules
15. Be cognisant of higher timeframes and indicated direction/potential change.
16. Breakfast afetr Tokyo close or at least 2 hours before its close
17. Do not miss signals when you are trading - ie pay attention to your chosen pairs
18. Be in office at key times 0600-1000 and 1200 to 1600 GMT.
19. When higher Timeframe (TF+1) concurs and TF+2 concurs allow to run with trailing stops. If TF+2 does not concur set target cognisant of 3xATR as stop loss
20.Focus on the signal coming up not those that have gone before, a bit like a ski slalom race, look at the gate ahead of the one you are about to take.
Feb 8, 2013
 Hercules
11. Review days trades - what should happened and what actually happened - learn from this.
12. Focus on correct entry and exit - all else will follow assuming correct money management
13. Be clear what timeframe is being used for the signal use that for exit signal and likely size of move
14. Do not enter multiple positions in hope of making a quick recovery - it may work most of the time but every so often it will blow your entire account. You must build consistent pippage by applying prven methodology/probability. Anything else is gambling/guesswork. (I highly recommend books such as "High Probability Trading" by Marcel Link)
Feb 8, 2013
 Hercules
I have some specific rules and objectives to get to live trading on this strategy. The rules go like this:

1. Stick to the rules
2. Make a profit
3. Only enter when clear signal identified
4. Only exit when clear signal identified OR at identified TP OR when black cat crosses path etc
5. Stop at 10 pips - manually executed. I see no reason to hand brokers my pips.
6. Stake size 1% ish
7. If you make a mistake GET OUT
8. Do not re-enter following an exit until a new clear signal is identified.
9. Decide which timeframe you are using and stick with it. (note I am largely using 1min and 5min on THV a la Cobra)
10. Don't be tempted into new entry when true signal not present. That is the same as using a different untried and untested method
Feb 8, 2013
 Hercules
This is a demo account which I have set up so I can publicly record trades which will at least make it feel like I am answerable for my trades even if not live money. Having said that I have been trading live for many years and have been a member of FF for many years but choose to keep my trading records separate. I am using this to trial my interpretation of THV which I have been studying for some months now with mixed success. This accout has a much larger spread than my live account but that in itself may not ba a bad thing as it will enforce a further level of discipline. If this just proves a distraction I shall stop posting here.
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