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THV system, final edition

  • #1,441
  • Dec 19, 2008 5:48am Dec 19, 2008 5:48am
This is the chart of EUR/USD , there's triangle, it will break at 12:00 or 12:20 GMT
Attached Image (click to enlarge)
Click to Enlarge Name: chart3.gif Size: 19 KB
What does not kill me makes me stronger. Friedrich Nietzsche,
  • #1,442
  • Dec 19, 2008 6:36am Dec 19, 2008 6:36am
Good morning fellow THV traders,

My first trade today went for a loss, -25 PIPs. Why? Because after that drastic drop at 0830GMT, I started reading my correction bias into the THV chart. The M5 was not ready. Price had crossed the T3 but was not out of the cloud and it had not crossed Coral. I had just sat down to trade and was wanting to "get every pip", so I anticipated - and got a loss. Had to cut it off at -25; it eventually ran to -40 or so. The M1, by the way, appeared "ready" - all rules in place. The problem was I was just in the middle of a very short up-run, and about as soon as I executed my Buy, it reversed on me.

Lessons to Learn from that Trade:
1. If THV is not ready on M5, don't go trade on M1 unless you are a very experienced trader who is looking only to scalp.
2. Don't be so eager to trade when you first sit down at the computer. Take time to review the daily trend (was clearly down). Take some time to absorb the action and get into the right frame of mind - follow the rules.
3. Don't read your wishes into the chart. Wait for the conditions to develop and the opportunity will appear.

I only took 2 more trades on the day. One profited for +55 and the other for +60. How did I turn my "luck" around so quickly? I waited for an M5 opportunity to develop. The 4020-to-3996 area today was indeed a battleground for bulls and bears. I got one trade down to 3984. THV set up real nice for it on the M5, and of course I had more confidence because I was going with the trend. For my next trade, the +60, I had to wait more than an hour and a half. The market was consolidating, in the battleground area. I hung with my short for two reasons: 1. All conditions on M5 and M1 were favorable; and 2. During the 1 1/2 hours, I kept referring back to my M15, M30 and H1 timeframe charts to confirm that there was indeed downward motion. In fact there was a Bear Flag in play on each of these longer term charts. In the consolidation, I had to get all the way to -35 before it finally turned loose and dropped for my +60. Believe me, I was on the outer limits of SL ground but the trend was clearly down and the higher TF charts urged PATIENCE.

Posting a couple of charts for illustration. The first chart shows my M5 THV chart with the hour and a half consolidation. The second chart shows one of my M30 charts so that you can see that Bear Flag, or downward wedge plus the daily trend.

Hope this helps someone. Have a nice weekend.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: chart1.gif Size: 19 KB
Up or down, gimme a ticket
  • #1,443
  • Dec 19, 2008 6:49am Dec 19, 2008 6:49am
Quoting SpecialEd
Good morning fellow THV traders,

My first trade today went for a loss, -25 PIPs. Why? Because after that drastic drop at 0830GMT, I started reading my correction bias into the THV chart. The M5 was not ready. Price had crossed the T3 but was not out of the cloud and it had not crossed Coral. I had just sat down to trade and was wanting to "get every pip", so I anticipated - and got a loss. Had to cut it off at -25; it eventually ran to -40 or so. The M1, by the way, appeared "ready" - all rules in place. The problem was I was just in the middle...
Excellent post Ed. Thanks.
  • #1,444
  • Dec 19, 2008 6:59am Dec 19, 2008 6:59am
Scalp in 1min TF is very difficult. I lost some pips trying in that TF. I recommend trade in 5min TF, is more confidence.

Today is very flat.
It's not a good day to trade

This is my trade, I get some pips there. I just exit when touch psycho level 1.4050

Quoting SpecialEd
Good morning fellow THV traders,

My first trade today went for a loss, -25 PIPs. Why? Because after that drastic drop at 0830GMT, I started reading my correction bias into the THV chart. The M5 was not ready. Price had crossed the T3 but was not out of the cloud and it had not crossed Coral. I had just sat down to trade and was wanting to "get every pip", so I anticipated - and got a loss. Had to cut it off at -25; it eventually ran to -40 or so. The M1, by the way, appeared "ready" - all rules in place. The problem was I was just in the...
Attached Image (click to enlarge)
Click to Enlarge Name: chart3.gif Size: 28 KB
What does not kill me makes me stronger. Friedrich Nietzsche,
  • #1,445
  • Dec 19, 2008 7:20am Dec 19, 2008 7:20am
20 minutes ago.
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USD Est Non Mortuus
  • #1,446
  • Dec 19, 2008 8:20am Dec 19, 2008 8:20am
good morning all, i have some questions i would like to ask.

1. what would be the best way to re-enter a trade if we chicken out early but the market continues in the direction of the original trade?

2. the entry rule say "price crosses t3 and cloud". does that mean to wait for a candle body to close past the cloud or would a shadow be enough?

3. could one of the thv team members comment on my previous post please?
post 1437.
  • #1,447
  • Dec 19, 2008 8:27am Dec 19, 2008 8:27am
Quoting maneddi
good morning all, i have some questions i would like to ask.

1. what would be the best way to re-enter a trade if we chicken out early but the market continues in the direction of the original trade?

2. the entry rule say "price crosses t3 and cloud". does that mean to wait for a candle body to close past the cloud or would a shadow be enough?

3. could one of the thv team members comment on my previous post please?
First, your previous post. Taking a trade on the 1M when it does not agree with the 5M is a higher-risk scalp and is only recommended for more experienced traders. Also see SpecialEd's post from a little earlier today.

New questions:
1. If the 5M is still moving in the direction of the missed trade, you can reenter on the 1M provided the rules have been met as if it were a new trade.

2. The safest is to wait for candle close. However, if it is a quick-moving market some pips could be missed. That part takes a little trader experience to decide on the spot.

3. Answer above.

Others may comment too so don't take what I have told you as an absolute final answer - it's just my view.
  • #1,448
  • Dec 19, 2008 8:34am Dec 19, 2008 8:34am
thanks tradewell, i will be open to all responses, i just wanted at least one person who has been using this system since the beginning to respond. i am having a difficult time getting in at the right time this morning. i believe the market does not usually move this much this fast, does it? i entered more than once this morning, following the rules and the market made an immediate turn the opposite way, just as if it was waiting just for me to get in so it could take my money. i had to withstand a 200 dollar dd just to finally get out with 10 bux.
  • #1,449
  • Dec 19, 2008 8:39am Dec 19, 2008 8:39am
Quoting maneddi
thanks tradewell, i will be open to all responses, i just wanted at least one person who has been using this system since the beginning to respond. i am having a difficult time getting in at the right time this morning. i believe the market does not usually move this much this fast, does it? i entered more than once this morning, following the rules and the market made an immediate turn the opposite way, just as if it was waiting just for me to get in so it could take my money. i had to withstand a 200 dollar dd just to finally get out with 10 bux....
Well it's not you. I have been waiting for a good entry also. There was a great one earlier, in London session, but I was sleeping then. A good scalper could have gathered some pips since then but today has not been as easy as earlier this week.
  • #1,450
  • Dec 19, 2008 8:45am Dec 19, 2008 8:45am
Quoting maneddi
while i was reading i remembered someone saying to look at the 1 minute for entry.
Yes, I do it like that.

If you see something is cocking on 5M and you await a breakout, than switch to 1M to search a good entry after drawing your TL's in 5M.

Once you got it, you need to be prepared to chicken that trade out early enough in case that it runs against you. You need to baby-sit the position in 1M until it is in good green pips to switch back to 5M and let it run, even better if you can setup your SL in BE.

I want to underline again the importance of the trading time. We always want strong moves because a ranging market will be boring and waste of time because we mostly don’t get entry confirmations. For me the overlapping London – NY session is the most appropriated. I also avoid Friday trading if there is no important news that may move the market.
  • #1,451
  • Dec 19, 2008 8:49am Dec 19, 2008 8:49am
good morning cobra, thank you for the reply and many thanks for getting the ball rolling on putting this system together. my thanks go out to all that helped as well.
  • #1,452
  • Dec 19, 2008 8:55am Dec 19, 2008 8:55am
Quoting LuckyLurker
20 minutes ago.
Nice trade Lucky.

One tip: I won’t give too much on the coral color, you see on the left hand side a good short trading opportunity as well but the coral color is blocking that trade.
  • #1,453
  • Dec 19, 2008 8:55am Dec 19, 2008 8:55am
"There was a great one earlier, in London session, but I was sleeping then. A good scalper could have gathered some pips since then but today has not been as easy as earlier this week."


i got up at 2 am my time to get in on london and as soon as i fired up the platform there was a big ole red candle staring me down. i looked at my 5 and 1 minute tf's and got in when i was supposed to but then i chickened out. i wanted to get back in and that is when the trouble started.
  • #1,454
  • Dec 19, 2008 9:04am Dec 19, 2008 9:04am
Quoting cobraforex
...I also avoid Friday trading if there is no important news that may move the market.
So far, today is a good example of that.
  • #1,455
  • Dec 19, 2008 9:05am Dec 19, 2008 9:05am
Quoting maneddi
good morning cobra, thank you for the reply and many thanks for getting the ball rolling on putting this system together. my thanks go out to all that helped as well.
You're welcome and thanks.

I saw that you and TW had problems to get a good entry today. Be sure you are not the only ones.

Don't forget that we have low trade volume during the Xmas and New year season and the market may be strongly moved in all directions in question of seconds with just few contracts.

Tonight I saw a almost 100 pips 5m candle.

This is the best time to lose your hard earned pips.

I hate to make vacations but its also a self protection, I know a lot of traders that close their trading room during this seasons.
  • #1,456
  • Dec 19, 2008 9:05am Dec 19, 2008 9:05am
Quoting maneddi
"There was a great one earlier, in London session, but I was sleeping then. A good scalper could have gathered some pips since then but today has not been as easy as earlier this week."


i got up at 2 am my time to get in on london and as soon as i fired up the platform there was a big ole red candle staring me down. i looked at my 5 and 1 minute tf's and got in when i was supposed to but then i chickened out. i wanted to get back in and that is when the trouble started.
Don't forget you can always scale out. It's a good strategy for us chickens .

Add: Oh yes, another strategy is using smaller lots. That way big moves against you hurt less.
  • #1,457
  • Dec 19, 2008 9:11am Dec 19, 2008 9:11am
Quoting cobraforex
Nice trade Lucky.

One tip: I won’t give too much on the coral color, you see on the left hand side a good short trading opportunity as well but the coral color is blocking that trade.

Yea i was still in bed. Would of taken that one for sure.. But only on the coral change (13:52 on that chart ) .. Using the slope to filter the coral. Using the coral to filter the slope.
USD Est Non Mortuus
  • #1,458
  • Dec 19, 2008 9:14am Dec 19, 2008 9:14am
Quoting LuckyLurker
Yea i was still in bed. Would of taken that one for sure.. But on the coral change .. Using the slope to filter the coral. Using the coral to filter the slope.
You're on the secure side, I like that.
  • #1,459
  • Dec 19, 2008 9:17am Dec 19, 2008 9:17am
Quoting LuckyLurker
Yea i was still in bed. Would of taken that one for sure.. But only on the coral change (13:52 on that chart ) .. Using the slope to filter the coral. Using the coral to filter the slope.


could someone explain what is meant by this?
  • #1,460
  • Dec 19, 2008 9:23am Dec 19, 2008 9:23am
Have a good weekend!
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