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THV system, final edition

  • #881
  • Dec 4, 2008 4:29pm Dec 4, 2008 4:29pm
  •  Denver
  • | Joined Nov 2008 | Status: Commit, then figure it out | 9 Posts
All,

I've been taking way too many trades and I am losing on this system. Looking back through my day I see many mistakes (i.e. I get trigger happy). I've been involved with FX for about six months off and on but I'm trying to get dedicated to this system. I've seen encouraging advice on the thread but I could use some more since I'm getting discouraged. I know others have gone through this...how can I get through this? Limit my day to 10 trades, quit after 4 straight losses?

Thanks and All the best, D
  • #882
  • Dec 4, 2008 4:38pm Dec 4, 2008 4:38pm
Quoting cashmeer
if you want to take advantage of the divergence, do you look to see when the trix passes the 0 mark? Is that a rule of thumb or is there really no good indicator as to when the reversal will take place?

I noticed, as on the chart, that when the red trix went below 0 the retrace or reversal started. Is that a rule of thumb we can use?
Regarding TRIX....the larger the TF, the more significant. Line crossings, one over the other are most significant the farther from the zero line they happen. Both lings crossing the zero line tells you where the bias, or tendency is, which you might not want to be trading against.

Lines can cross each other far out from the zero line and be a righteous call about the PA reversing (for a while). And the PA can reverse, but this may not be long lasting on shorter TFs, as the lines can come to proximity of the zero line and cross each other again without crossing the zero line iteself. The PA reverses again. The lines start moving away from the zero line and farther out again, cross each other once more and proceed back to the zero line. It is often this second (sometimes third, if stubborn not to breech the zero line) that the lines crossing each other (multiple times while remaining on one side of the zero line) becomes truely predictive of a longer move. At least this has been my experience.
  • #883
  • Edited 4:45pm Dec 4, 2008 4:41pm | Edited 4:45pm
Quoting Denver
All,

I've been taking way too many trades and I am losing on this system. Looking back through my day I see many mistakes (i.e. I get trigger happy). I've been involved with FX for about six months off and on but I'm trying to get dedicated to this system. I've seen encouraging advice on the thread but I could use some more since I'm getting discouraged. I know others have gone through this...how can I get through this? Limit my day to 10 trades, quit after 4 straight losses?

Thanks and All the best, D
A fast trigger finger is funny but can cost you your account balance.
Try to take only the best trades. That means a break and retest of important R&S levels. Draw TL's and watch out for Fibs after large moves.
Look the chart, the first yellow box was a good setup but the second, the red box, breaking the DP and retest it was a perfect setup.

Overtrading is suicide.
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  • #884
  • Dec 4, 2008 4:45pm Dec 4, 2008 4:45pm
And, yes, keep an eye on the trend line of the tops, or of the bottoms these TRIX lines create. That in itself is another clue of bias. A series of rising "tops" never lasts. When you see it as a result of long run of waves in one direction, and then you see the next "top" is lower than the last, and the PA did a lower high than the last, this can be predictive of further PA highs that are lower than the last......more trust that the "reversal" will continue.
  • #885
  • Dec 4, 2008 4:50pm Dec 4, 2008 4:50pm
Quoting Denver
All,

I've been taking way too many trades and I am losing on this system. Looking back through my day I see many mistakes (i.e. I get trigger happy). I've been involved with FX for about six months off and on but I'm trying to get dedicated to this system. I've seen encouraging advice on the thread but I could use some more since I'm getting discouraged. I know others have gone through this...how can I get through this? Limit my day to 10 trades, quit after 4 straight losses?

Thanks and All the best, D
Denver...I hope you're DEMO trading first of all...

Secondly... as Cobra mentioned towards the end of post # 75 (please read all)

Now, for whom is THV?

Right, for the guys those are in the last stage of our trader’s carrier. You need to know the basics and if you still don’t know them, only trade Demo until you fully understand what you are doing.

Try not to take too many trades...set yourself a target, like 20 pips or 40 pips a day and try and achieve that in 10 trades or less...<---someone else tell me if that is not sound advice--->

Here is an anecdote...I hope you do not feel like I am patronizing you becuase I am not...


Starting about a few weeks ago, I would go out on to my patio in the evening to reflect. One evening, I noticed a small lizard on a lamp post on the perimeter wall of our house . I saw it there 3 nights consecutively and I thought to myself, it's a lizard, it's cold blooded and it is using the lamp post to keep it self warm. (it had attached itself to the outside glass of the light). Smart lizard I thought.

One evening, I was sitting outside listening to a lecture with my earphones on and I was watching the lizard. I was outside for more than an hour and it did not move. At all !

What happened next?

I realized why the lizard was there. An unsuspecting moth, attracted by the light, fell prey to the lizards trap.

The point of my story is that, that lizard was prepared to sit there for hours if necessary waiting for the perfect setup. Why? Becuase for that lizard it is a matter of survival. The lizard could have run around all night exhausting itself trying to catch a moth. And that is what we sometimes do; that is futile.


Stalk your prey. We should treat trading this way.

Please, if you do no already. Download the analysis chart that Cobra posted and start to draw your own trendlines. They will help you anticipate a "perfect" set up.

It is essential that you do this. The THV system is not a Holy Grail. I know you know that, but for the record. It requires that you do your own analysis to help you get ready to take advantage of a setup.

Like I mentioned to Polonaise. Go through the thread again, entirely, if possible. Download all the images related to the THV and Analysis and that will definetly help.

I too, and just getting started, so if I can be of help, I will.

Best,

Cashmeer.
Deprive a man of everything and you give him nothing to lose.
  • #886
  • Dec 4, 2008 4:55pm Dec 4, 2008 4:55pm
Overall, and this can be contrary to the quick scalper, possibly a good rule of thumb would be.....only go long if the TRIX lines are doing their thing above the zero line, remembering there might only be 1-3 good times up there. Reverse this logic for shorts. And the only time you violate this is, for example, go long if the TRIX lines cross each other below the zero line IF the crossing is sharp, and the angles of both lines are steeply heading towards the zero line, and the crossings happened a good distance AWAY from the zero line.....this is like trying to pick a real top, or bottom, at least on the TF chart you are on.

In otherwords, don't go long when the TRIX lines are doing their thing below the zero line until they have done so for two or more crossings down there, and only then iif you see what looks like a sharp crossing from a nice distance below the zero line, with good angle and separation heading back to the zero line.

This can all be very subjective, and relative to what has gone before on the TRIX scale.
  • #887
  • Dec 4, 2008 4:58pm Dec 4, 2008 4:58pm
Quoting cashmeer
Denver...I hope you're DEMO trading first of all...
Best,

Cashmeer.
Great post Cashmeer, I see you made your homework.

Gonna have some rest till London session.
  • #888
  • Dec 4, 2008 5:12pm Dec 4, 2008 5:12pm
Quoting traderathome
Overall, and this can be contrary to the quick scalper, possibly a good rule of thumb would be.....only go long if the TRIX lines are doing their thing above the zero line, remembering there might only be 1-3 good times up there....
Good stuff traderathome. I need to look back at the charts to get my head around utilizing the trix properly. I am going to post it again for the heck of it...because I was amazed. Cobra drew the trendlines to indicate serious divergence. I was wondering when we could expect the reversal. I noticed that when the green trix fell below the zero, it was misleading, but when the slower red trix fell below zero it was almost spot on. Check it out on the chart.

I probably should have drawn the downwards yellow trend line on the red trix and that would have led me straight to the point when it fell below zero and the retracement started.

That link on investopedia about trix is really enlightening.

http://www.investopedia.com/articles...2.asp?viewed=1

The chart says it all.

Thanks for your input!!!
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Deprive a man of everything and you give him nothing to lose.
  • #889
  • Dec 4, 2008 5:13pm Dec 4, 2008 5:13pm
Just took a look at the new template, much cleaner and less confusing for me. Will be giving it a try next week on eu. Thanks for the hard work!
  • #890
  • Dec 4, 2008 5:15pm Dec 4, 2008 5:15pm
Quoting Jimmy Jones
Just took a look at the new template, much cleaner and less confusing for me. Will be giving it a try next week on eu. Thanks for the hard work!
Good stuff. Let us know what you find !
Deprive a man of everything and you give him nothing to lose.
  • #891
  • Dec 4, 2008 5:32pm Dec 4, 2008 5:32pm
Quoting Denver
All,

I've been taking way too many trades and I am losing on this system. Looking back through my day I see many mistakes (i.e. I get trigger happy). I've been involved with FX for about six months off and on but I'm trying to get dedicated to this system. I've seen encouraging advice on the thread but I could use some more since I'm getting discouraged. I know others have gone through this...how can I get through this? Limit my day to 10 trades, quit after 4 straight losses?

Thanks and All the best, D
Denver, the last thing I wanted to mention, before someone tells me to shut up! is that, please post your charts, that's why the function is available. That will help us see why your trades went wrong and right !!! It is really helpful for others, especially me

Thanks,
Cashmeer.
Deprive a man of everything and you give him nothing to lose.
  • #892
  • Dec 4, 2008 5:40pm Dec 4, 2008 5:40pm
  •  Denver
  • | Joined Nov 2008 | Status: Commit, then figure it out | 9 Posts
Thanks for the quick responses guys/gals. I'm on a mini accout trading one-sies so I get the feel for losses and gains (more losses lately). Think this will eventually make me numb to the emotions. I think that is the disadvantage of a demo acct.

I'll do more work on your suggestions and start posting my charts etc. Need to spend some time with my son now...until tomorrow...any other words of wisdom through the night are appreciated. btw, loved the lizard analogy...

D
  • #893
  • Dec 4, 2008 7:06pm Dec 4, 2008 7:06pm
+25 pips on M5, perfect setup

closed at this exact moment

patience is the key here (Honestly, that's something I've been working really hard on)

edit: here is the trade I just took, entry on the green dot

http://img114.imageshack.us/img114/3094/trade25fi9.gif
  • #894
  • Dec 4, 2008 7:34pm Dec 4, 2008 7:34pm
Quoting Jack Herer
+25 pips on M5, perfect setup

closed at this exact moment

patience is the key here (Honestly, that's something I've been working really hard on)

edit: here is the trade I just took, entry on the green dot
Nice trade Jack, I only have to add that it was also a break of the yellow TL.
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  • #895
  • Dec 4, 2008 8:01pm Dec 4, 2008 8:01pm
Jack - good pips, but it was NOT a system trade. (aqua line had not crossed hull) System entry was a short about 40.
  • #896
  • Edited 8:31pm Dec 4, 2008 8:19pm | Edited 8:31pm
Quoting orientos
Jack - good pips, but it was NOT a system trade. (aqua line had not crossed hull) System entry was a short about 40.
Hopefully you didn't drink that canabis Vodka from TW

System entry was 65, the green line. T3 crossed at 67 !
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  • #897
  • Dec 4, 2008 8:34pm Dec 4, 2008 8:34pm
Well, now I am confused. I thought we entered at end of candle?
And of course, I apologise to Jack if that's not the case.
  • #898
  • Dec 4, 2008 8:43pm Dec 4, 2008 8:43pm
Quoting orientos
Well, now I am confused. I thought we entered at end of candle?
And of course, I apologise to Jack if that's not the case.
Let me explain.
The candle that crossed finished and the new candle started in trigger territory.
  • #899
  • Dec 4, 2008 8:46pm Dec 4, 2008 8:46pm
I was not watching at the time, so thanks for that. Thanks also for the strategy, which I have been using sucessfully during the first few hours of the London session.
  • #900
  • Edited 9:15pm Dec 4, 2008 9:05pm | Edited 9:15pm
Quoting orientos
I was not watching at the time, so thanks for that. Thanks also for the strategy, which I have been using sucessfully during the first few hours of the London session.
Orientos, there is a small missunderstanding.
Jack said "entry at green dot", I saw that dot as a horizontal price level and you took it as a vertical level, there is the mistake, sorry didn't see that before.
But I am sure that Jack was refering to it as a price level, he took profit at 33, +25 pips + 2 Spread, he entered at 60 and that is correct.
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