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mysterio Oct 7, 2009 1:51pm | Post# 1

Mysterio's Trading Journal (based on THV)
Hi folks, I thought i'd start a trading journal based on Cobra's THV scalping system. I will post every trade, winner or loser. I am currently trading on demo but will be going live if i'm happy with consistent results.

A little history, I would class myself as a 'newbie' but i'm not entirely new to forex. I know the basics of technical analysis and can spot S&R. I traded breakouts last year and after initial good results, I lost my head a little bit, over-levereged and wiped a third of my account (luckily a very small account). That was time to step back from trading for a while.

I am now trading the THV v4 system which I like because it allows me to continue to trade breakouts, incorporate technical analysis (it's not completely mechanical) and I like the 'feel' of the system. I hope the necessity of having to update my thread will keep my mind focussed.

Trading Days

Will primarily be Mondays, Thursdays & Fridays, however I may need to take weeks off without notice because of university commitments. When I do open a live account, it will be a small one because i'm a poor student. This is primarily a hobby and an interest for me, I do not intend to make a living from it at this stage.


EUR/USD & Cable will be the pairs I look at. I'm aiming for 20 - 30 pips a day, and after that the computer will be turned off. I hope to make these first thing in the morning during Europe & London open.

Entry: I will be entering on the cross of trix, with the trend only (i.e. above coral for long, below for short). I will wait for a clearance of the Ichimoku cloud before entry. I will also be on the lookout for divergence. I may, for instance, enter early before trix crosses if there is a trendline break as in the picture below.

Exit: I will respect S&R levels, pivots, and trendlines to determine exits, or exit on the change of the fast trix. SL will be ATR unless there is a reason why it shouldn't be.

New Exit Rule: I will move stops to B/E after half of the 3xATR(20) is reached and take 50% profits here.

I pledge not to

Mess around with other systems half cocked after a bad day, use an EA, blow an account, over leverage, break the above rules, be honest about losses as well as wins.

See you tomorrow when London opens!

Running pip total as of 13th October: 66.5

mysterio Oct 8, 2009 2:22am | Post# 2

Morning pip hunters,

Opened two shorts this morning

SHORT: G/U 1.59921
SHORT: E/U 1.47522

I will stop these out breakeven if they retrace too far.

mysterio Oct 8, 2009 2:28am | Post# 3

+5 on GU, +4 on EU. Trix changed colour in both cases.

mysterio Oct 8, 2009 2:36am | Post# 4

Long E/U : 1.47580.

G/U is too close to psych level 1.6 for me to consider yet. I will wait for a decisive break.

mysterio Oct 8, 2009 2:45am | Post# 5

Closed the E/U long at 1.4768 around MR3 for +10.

G/U is starting to break 1.6 but it's too late for me.

mysterio Oct 8, 2009 3:04am | Post# 6

Naturally, the G/U trade I didn't take shoots up 40 pips

... Make that 70

mysterio Oct 8, 2009 6:27am | Post# 7

Long g/u: 1.60684
long e/u: 1.47770

-17 on the E/U and Breakeven on G/U. Looks like the trend is running out of steam.

mysterio Oct 8, 2009 7:04am | Post# 8

OK, so I just made my first newbie error on the last trade. Anyone guess what it was yet?

I didn't check my FF Calender. Bank of England were announcing interest rates at midday. IDIOT! No wonder PA was so indecisive. I've even done courses in International Finance. I know that interest rates can completely alter the flow of capital between countries.

I'm going to cut and run for the day. +2, at least it wasn't a total wipeout!

mysterio Oct 8, 2009 7:31am | Post# 9

Couldn't resist a quick short,

Short E/U 1.47647

Exit 1.47564


So +10 for the day.

Kakyn Oct 8, 2009 8:58am | Post# 10

Good luck with the journal,

BTW how about your exit ( T/P and S/L ) strategy?

mysterio Oct 8, 2009 9:13am | Post# 11

Thanks for the comment.

I am still ironing this out. Roughly speaking, I will move the stop to B/E after half of the 3 x ATR (20) value. Then I will TP upon a cross in the opposite direction of trix OR touch of a known S&R level, trendline or major pivot. Initial stop will be the 3 x ATR (20) level.

This is the most shaky part of my strategy so if anyone wants to input, it is welcome.

mysterio Oct 9, 2009 2:41am | Post# 12

Morning pipsqueaks,

In with a long on EU 1.47296, initial SL 1.47056

Stop now at B/E, 50% closed at 1.4741

mysterio Oct 9, 2009 3:03am | Post# 13

Short EU: 1.47220
Short GU: 1.60020

G/U: Stop at B/E. 50% taken at 1.5988.

G/U: Entire position closed at 1.5988

E/U: Exited at B/E.

TOTAL TODAY: 7.5 + 14 = 21.5

I wasn't enjoying e/u this morning. It was in a narrow range and I would have got whipsawed if I took every signal.

I think I will just concentrate on g/u which usually breaks decisively in the morning. I'm looking at g/j too although I need a way of filtering out false breakouts.

mysterio Oct 9, 2009 6:21am | Post# 14

Man, it's easy to spot opportunities in hindsight but taking them in real time is a nightmare.

G/J is looking appealing. The first circle is the trade I would have taken this morning. My new SL/TP strategy would have saved me from the reversal. The second circle I would have taken on the trendline break. Would've, should've, could've

mysterio Oct 9, 2009 10:12am | Post# 15

What a beautiful short opportunity from 1.61200 on cable, I hope some of you caught that. Talk about 'no brainer trades'.

Possible long opportunity just below 1.5800, i'll be keeping a close eye on that strong support area.

mysterio Oct 9, 2009 10:36am | Post# 16

Couldn't resist a quick +6 on EU

Have a good weekend folks, I'm doing jury duty next week so this journal may not be updated.

mysterio Oct 9, 2009 10:57am | Post# 17

Another quick +5

VERY tempted to move over to 1 minute screens

329316322009.10.09 14:52buy4.00eurusd1.475070.000000.000002009.10.09 14:541.475660.000.000.00236.00

mysterio Oct 12, 2009 7:52am | Post# 18

Didn't get selected as a juror, thankfully.

Sticking to 5min screens for now.

Entered long on E/U at 1.47675

- Long and short term trend is UP
- Price has cleared R1
- Price is above cloud and coral
- Divergence on Trix

Stopped out B/E. I moved the stop quickly as I noticed some resistance on 5 min chart.

mysterio Oct 12, 2009 9:07am | Post# 19

LONG: G/U 1.58258

- Upwards Channel
- Divergence on 5min
- Price above coral and cloud

Out -15

Edit: I broke my own rules here. If I had my SL at 3xATR(20), I would still be in this trade with positive pips.

mysterio Oct 12, 2009 10:28am | Post# 20

+22 on GU, that's more like it

SHORT at 1.58001, closed at 1.57786

Chart to follow

+7 for the day. Looking forward to a full day on the screen later in the week.

- Divergence, break of trendline, change of 15min trix provided a clue the trade was coming
- Close below cloud and break of coral gave my entry

I'm thinking of adding the 15min MTF trix colour as an additional filter. As it was red, it would have kept me out of that -15 trade, indicating the upwards channel was running out of steam.

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