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THV system, final edition

  • #1,381
  • Edited 8:22am Dec 18, 2008 8:11am | Edited 8:22am
Quoting rvenky
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

Venky...the simulator will only allow you to use one time frame at a time...I use the simulator on the 5 min and when I see an entry, I have another window open with the 1 min and I use the F12 key to display one candle at a time without seeing what candles are after. I know that is not as precise as the tick by tick candlestick, but it's the only solution that I could find....

Venky...I wish you the best...this simulator trading is excellent. Trendlines are key....
Deprive a man of everything and you give him nothing to lose.
  • #1,382
  • Dec 18, 2008 8:14am Dec 18, 2008 8:14am
Thanks Ed

From looking at the documentation and reading through the thread your example agrees with what I have in my own mind as a good signal.

In your experience do these A1 set-ups happen very often.

Lloydy
  • #1,383
  • Dec 18, 2008 8:19am Dec 18, 2008 8:19am
Quoting SpecialEd
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.
I thought about doing that trade, but as you said, I didn't have the courage. I made my goal for the day so I won't enter any more trades unless they are really good. That one was great, except the counter-trend issue. THV is beautiful when you see these kind of trades.

Add: lloydy, it seems like there is at least one of these every day (although not always to that magnitude, 100+ pips)
  • #1,384
  • Dec 18, 2008 8:20am Dec 18, 2008 8:20am
Quoting lloydy
Thanks Ed

From looking at the documentation and reading through the thread your example agrees with what I have in my own mind as a good signal.

In your experience do these A1 set-ups happen very often.

Lloydy

Hi Lloydy:

Thought I would chime in....these types of setups happen often enough...probably more than a handful a day....as Cobra mentioned, once a person understands what to look for, it's a matter of babysitting the monitor waiting for the right trade to happen.


I really, really (double for emphasis) encourage you to simulator trade. You can do a 12 hour day in about 30 mins to an hour ...you can do a month in a few days....that way you would see how many of these setups happen a day...and it will build your confidence in terms of identifying a trade and executing....

Let me know what you think....
Deprive a man of everything and you give him nothing to lose.
  • #1,385
  • Dec 18, 2008 8:25am Dec 18, 2008 8:25am
Thanks Guys

I never considered the simulator - will give it a go.

Regards
Lloydy
  • #1,386
  • Dec 18, 2008 8:59am Dec 18, 2008 8:59am
Hi All,

I have a quick question with regard to the coral line. If you take a short trade below the cobra line, does the line have to be red? I have had a few occasions where the price action was below the T3 line and cloud and below the coral line but the coral line was green, is this still a valid short trade or does the coral have to change colour to red as well? How significant is the coral colour exactly?


Thanks to everyone on the forum for all the great feedback!!!

Alkis Hilton
  • #1,387
  • Dec 18, 2008 9:04am Dec 18, 2008 9:04am
After Ed and I mentioned counter-trend trading and being , I actually decided to go short. The very short term trend was short, and we broke a trendline (not pictured) and R1 at the same time (along with THV rules of course). This is just a reminder that a "trend" can mean any of a number of time frames. Also it's an example of how s/r and TL's are critical when using THV. I scaled out most of my position and still holding some with stop at entry. I could have stayed in 100% because the 5M showed no reason to TP under THV rules.
Attached Image (click to enlarge)
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  • #1,388
  • Dec 18, 2008 9:07am Dec 18, 2008 9:07am
How difficult for me not to trade, anyhow at London open I woke up like customed and against my will I took the 200 pips bull run. (Pssst: don't tell Mrs.Cobra.)

Guess whom we met yesterday
Attached Image
  • #1,389
  • Dec 18, 2008 9:10am Dec 18, 2008 9:10am
Hi All,

I have a quick question with regard to the coral line. If you take a short trade below the cobra line, does the line have to be red? I have had a few occasions where the price action was below the T3 line and cloud and below the coral line but the coral line was green, is this still a valid short trade or does the coral have to change colour to red as well? How significant is the coral colour exactly?


Thanks to everyone on the forum for all the great feedback!!!

Alkis Hilton

http://www.forexfactory.com/images/misc/progress.gif

  • #1,390
  • Dec 18, 2008 9:16am Dec 18, 2008 9:16am
Quoting alkis
Hi All,

I have a quick question with regard to the coral line. If you take a short trade below the cobra line, does the line have to be red? I have had a few occasions where the price action was below the T3 line and cloud and below the coral line but the coral line was green, is this still a valid short trade or does the coral have to change colour to red as well? How significant is the coral colour exactly?


Thanks to everyone on the forum for all the great feedback!!!

Alkis Hilton

http://www.forexfactory.com/images/misc/progress.gif

...
The color of the coral isn't important.
You will lose a lot of pips waiting for color change.

BTW: Guys and Gals trade carefull, actually we don't see much volume due to the hollidays. The E/U is moving actually like the beast (G/Y) and whithout fast trigger finger you can get lost.
  • #1,391
  • Dec 18, 2008 9:17am Dec 18, 2008 9:17am
Quoting cobraforex
How difficult for me not to trade, anyhow at London open I woke up like customed and against my will I took the 200 pips bull run. (Pssst: don't tell Mrs.Cobra.)

Guess whom we met yesterday
You will have to use the $$ to get her an extra nice Christmas present, to ease your conscience.
  • #1,392
  • Dec 18, 2008 9:19am Dec 18, 2008 9:19am
I am going to mention something again about trendlines...

if by the time you're done reading this, you're thinking, "ENOUGH ALREADY...GIVE IT A REST!" then please post that...

Maybe I am taking it too far...

I posted a trade I took earlier and I had drawn the trendlines on the 5 min and 1 min....just looking again at it now after Special Ed posted the 130+ pip trade, I wanted to illustrate again how important it is to draw these things out....

Here is the orginal 1 min which was based on the 5 min trendlines I drew at the beginning of the London open session....

Attached Image


Attached Image



After sometime you can see the continuation of the price and how it respected the trendlines in both the 1 min and the 5 min.....I left the trendlines alone...


Attached Image (click to enlarge)
Click to Enlarge Name: 1 min - eur - usd - 12-18 trendbreak - 2.gif Size: 40 KB


Attached Image (click to enlarge)
Click to Enlarge Name: 5 min - eur - usd - 12-18 trendbreak - 2.gif Size: 37 KB



Therefore, in the 5 min, when it crossed the trendline and the coral, in the 1 min you saw a retest into the cloud and then that led to a THV setup according to all the rules...


Let me know what you think....

Again, if this is too much...If I am becoming obsessive with trendlines...just say so....
Deprive a man of everything and you give him nothing to lose.
  • #1,393
  • Dec 18, 2008 9:27am Dec 18, 2008 9:27am
Quoting cashmeer
Let me know what you think....

Again, if this is too much...If I am becoming obsessive with trendlines...just say so....
Just fine, in the last screenshot I would have taken the trade after the retest of R2.
  • #1,394
  • Edited 10:00am Dec 18, 2008 9:44am | Edited 10:00am
Hi Hawes
Here your Trix for Crude oil.
Delete the one that comes in V2 and drag the crude trix in the first indicator window and you're done.

This is only for crude !!!

Forgot to say: once you're done save the template as "THV V2 Crude" to easy switch between them.
Attached File(s)
File Type: ex4 THV T3 Trix Crude.ex4   10 KB | 959 downloads
  • #1,395
  • Dec 18, 2008 9:47am Dec 18, 2008 9:47am
Quoting cobraforex
The color of the coral isn't important.
You will lose a lot of pips waiting for color change.

BTW: Guys and Gals trade carefull, actually we don't see much volume due to the hollidays. The E/U is moving actually like the beast (G/Y) and whithout fast trigger finger you can get lost.
Just signing on for a brief bit. The best way to trade this market is to be up early, set a daily goal, get it and get out. No one on the EUR/USD thread foresaw the nearly 300 pip drop we had the past few hours.

To follow up on someone's question about how often those "perfect set-ups" occur. I agree with what someone else said on that as well - a handful a day if your day includes full London and New York sessions. You'll even get one in the Asian section late, typically around midnight est. Not a promise, only an observation.

Get 'em and get out. Even with THV, it would be dangerous to overtrade, I think.

Have a good one. Got the soup cookin'. As always, respects to the Cobra.
Up or down, gimme a ticket
  • #1,396
  • Dec 18, 2008 10:03am Dec 18, 2008 10:03am
Well, I'll getting back to relax again, will be back tomorrow.

Don't forget: trade save.
  • #1,397
  • Dec 18, 2008 10:14am Dec 18, 2008 10:14am
Here's a great example of the power of scaling out of profits and letting your trade run unimpeded. Some of you took the THV short at around 1400gmt (0900est). If you set a Stop Loss at entry/break-even at about +30 or +40, and took partial profits along way but left some of your trade open to be TSL'd out, you could have picked up as much as +271 PIPs over three hours.

If you don't like trailing stops, pick a fairly long-term point of support, like MR1 and set your TP just above that. Another way would have been to set TP at a psych like 4350 or 4320. Then, as Algirdas likes to say, the market will give you a nice little surprise.

Here's the chart. It spiked down 100 PIPs in about 10 minutes and it's still moving! At 4266 now.

I'm offline.
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 18 KB
Up or down, gimme a ticket
  • #1,398
  • Dec 18, 2008 10:39am Dec 18, 2008 10:39am
Guys

Just to confirm - 'the color of the coral is not significant'.

This does not mean that the angle and direction of the coral is insignificant does it? The angle of the coral should be in tandem (direction wise) with the T3 line and the direction of an intended trade.

Sorry if my question seems simplistic.

Regards
Lloydy
  • #1,399
  • Dec 18, 2008 10:40am Dec 18, 2008 10:40am
Hi. Please Help me. I love this system. But I do something wrong. This last huge move down. I didn’t take the trade. Please can someone show on a chart when by the rules it hit the trigger.
  • #1,400
  • Dec 18, 2008 10:43am Dec 18, 2008 10:43am
On 1 min chart
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