THV system, final edition

http://www.forexfactory.com/showthread.php?t=60849

This current chart contains the new xpMA and T3MA, and so is different from last posts. These lines are now intersected indicating DOWN direction....

I set the bars to 18000 from September to today.
Try it!, Don't set that amount of bars(5120000) because the CPU get slow.

ikki:

I'm not following you...18000...is there a date function to be set in the MT4?

18000 bars in the 5 min TF would only be a week or so...right?

maybe I'm not getting this...I should probably look into the thread...I'm sure there are dozens of others that asked a similar questions...

Thanks for helping !


ADD Actually the simulator that is included in the V2 Zip file is here : http://www.forexfactory.com/showthread.php?t=70742

I just searched through our thread becuase I remember Cobra mentioned it....

The one lillelise mentions above is a different one called Vhands...

Just for clarification...

Thanks,
Cashmeer

Feliz Navidad and take some time off to play with the chickens.

What are you using, vhands or the cobra mentioned?
I use the second.

....EJ, maybe, maybe finally.....this train is preparing to leave the station....

Set the bars history in Options to 99999999999999, the system will give you the maximum bars allowed (2147483647 if you want to write it down directly).

Your number gives about 13 years if I'm not wrong, though.
(5120000/60/24/(365-104), approximatively if no sunday data)

Confirmed, coral v2 now works fine. Thanks for looking into this cobra. I didn't think it was a vista issue as it was not working on xp either.

guys,

thank you very much for the v2.

you guys rock.



enjoy the holidays and best regards.

I'm just waking. It looks like I missed the first big move of the day. If you were watching THV, you could have entered long at about 4440 and ridden the wave all the way to 4719 within an hour and a half. Most of that actually came within a span of 20 minutes. Wow!

Here is the latest chart. We should be getting up for another push up - or, if the last move was all a fake-out, we'll cross the Coral and retrace for a while. The next big previous high is 4866, with 4907 and 5090 ahead.

Careful trading today folks. Follow Cobra's rules. I will be in and out of this thread over the U.S. morning.

Hello all:

I am coming to terms with the fact that the trendlines are key to the success of trading THV....I am simulator trading the 5 min for entries and it has been most helpful...

This is a 5 min setup with entry on 1 min...good for 30 + pips...

cashmeer,
How do you shift from the 5m to the 1m chart in the simulator ?
When I run the simulator in a particular timeframe, it is stuck to that time frame and does not let you change it

I have been a silent reader of this thread and thanks Cobra and everyone contributing positively to it.

Thanks
venky

Hello THV Traders,

In haste to make money, it is easy to lose money on a premature trade that follows most but not all of Cobra's rules. Take the two charts for example. On the first one, I was monitoring the M5 timeframe (TF), looking for a long. Since we'd earlier been to 1.4719, I was fairly confident that we'd go back there.

Since price was already over the Coral line, I waited for it to crawl over T3 and the Ichimoku cloud. In my overconfidence of the action, I took the long just over the T3 but NOT the cloud. My trade entry is shown in the ellipse in the top chart, an M5. If you want to check it on your own chart, I took the trade at 1040gmt. Entry was 1.4590. What happened from there is the object of this lesson. It rose to 4604, +14, and then immediately reversed for 7 5-minute bear candles! It got all the way to -39, which is more equity drawdown than you should normally have to use with the THV system.

Now faced with problem-solving, and since I still felt confident of today's early trend, I started looking for a reasonable Stop Loss when price took me to -25 PIPs (ouch!). The closest support was 1.4538, so I set my SL at 1.4535, which God forbid, would set me back -55 PIPs if hit. That's 2/3 of a day in trading for me. Luckily, support held and I was eventually able to collect a profit, a measly +7 PIPs which in this case I was elated to take.

What did I do wrong, and what could I have done differently? Well, I did not wait for price to climb above the cloud, one of the fundamental rules of THV. If I had gone to the M1 TF to get verification of my trade entry, I would have seen that I was indeed jumping the gun. Look at my second chart, an M1, and you will see that M1 clearly showed that at the point I took my trade (see yellow up-arrow), the T3 had not yet crossed Coral.

I got lucky because of a strong trend and understanding of support and resistance, but this trade could have set me back more than a half-day's work if it had done what I probably deserved. I took my lucky +7, became more patient for the rest of the morning, followed Cobra's rules to the "T", and now, +91 PIPs later, I am done for the day.

I am not bragging on the +91, just emphasizing the power of THV and the importance of following the simple rules of the system.

Sorry for the book, but I hope this helps a new trader. Good trading to all.

Hi Ed

On the 1M TF would you also have wanted the coral to change color to green or wouldn't this have been of importance for you?

Regards
Lloydy

Good post Ed. It may be a book but books can make for good reading. It is important to pass on mistakes as well as successes. Otherwise the potential impression for readers of the thread is that the system is infallible, which it is not. Thanks for taking the time to explain .

Lloydy, on the 1M TF, I would have at least wanted the coral pointing up. Color is not as important as we once thought, but it surely is the safest. In my trading, I have learned PRESERVATION OF CAPITAL to be the most important thing to remember; hence fewer more conservative trades with smaller lot sizes.

I am using the one that Cobra included in the V2 download. I think it is called Quantem.

13 years should be sufficient....it's working now I think...

as always, doblece, thanks !

Although this is a counter-trend trade, the chart shows about the perfect scenario for THV. Price, T3 and Coral intersect below the Cloud but close. Good trade if you had the courage to go against the trend.

Lloydy, we even colored the Coral red for you.