- #2,021
- Edited 12:58am Jan 8, 2009 12:32am | Edited 12:58am
- Joined May 2006 | Status: Still here. | 2,602 Posts
- #2,022
- Jan 8, 2009 1:18am Jan 8, 2009 1:18am
- | Joined Jan 2008 | Status: a small step to the future | 560 Posts
Dear Cobra, Doblece, Ed and Other experienced THV Teams
I have just tested THV in 15 days in live and it works very good to me. I have been looking for many systems to fill my need in scalp trading and guess, THV is the best
(glad to have Cobra and team in FF). THV gives so many important information in just one template. In my personal opinion the indicators I should respect first is Heiken Ashi, then the coral trix and the last is sonic wave. The Pivot sup res also works very good when you trade near the line.
According to my journal, 80% my trade with THV gave me positive result. But yeah sure, it won't give you a money tree. Forex scalping is the art to read price behaviour and act properly in time. I see THV as a great tools to read what is hidden behind the chart.
Now my question as a beginner
How do you guys maximize your profit when you trade a right trade?
I found my self close trade too early because of fear my profit will wane. As I said before, almost 80% if my position is right but when loss come it takes 2 or 3 times right trade to balance it.
Thanks for your help before. Great to have people like you guys here.
Btw, I'm just knew Doblece is female. Great to have a lady trader here.
I have just tested THV in 15 days in live and it works very good to me. I have been looking for many systems to fill my need in scalp trading and guess, THV is the best
(glad to have Cobra and team in FF). THV gives so many important information in just one template. In my personal opinion the indicators I should respect first is Heiken Ashi, then the coral trix and the last is sonic wave. The Pivot sup res also works very good when you trade near the line.According to my journal, 80% my trade with THV gave me positive result. But yeah sure, it won't give you a money tree. Forex scalping is the art to read price behaviour and act properly in time. I see THV as a great tools to read what is hidden behind the chart.
Now my question as a beginner
How do you guys maximize your profit when you trade a right trade?
I found my self close trade too early because of fear my profit will wane. As I said before, almost 80% if my position is right but when loss come it takes 2 or 3 times right trade to balance it.
Thanks for your help before. Great to have people like you guys here.
Btw, I'm just knew Doblece is female. Great to have a lady trader here.
If this doesn't work, then we will have to wait for Doblece to fix all...she's great!
Manage your risk accordingly and you're half done your home work.
- #2,023
- Edited 5:18am Jan 8, 2009 3:55am | Edited 5:18am
- Joined Jul 2008 | Status: Trader | 1,722 Posts
Dear Cobra, Doblece, Ed and Other experienced THV Teams
How do you guys maximize your profit when you trade a right trade?
I found my self close trade too early because of fear my profit will wane. As I said before, almost 80% if my position is right but when loss come it takes 2 or 3 times right trade to balance it.
Thanks for your nice words. Glad to see that the THV system is working for you too. Cobra, Doblece and Tradewell are more experienced than I on this subject, but in their absence, I will tell you what I do.
I usually use kind of a manual stops, meaning that I watch price action and set them myself, but I use a stop loss of 25-30 PIPs. That minimizes my losses and gets me out of possibly bad trades, easy to make those PIPs up on the next one.
Then, to maximize profit, when I initially set the trade, I use a trailing stop of 20 PIPs, but I don't allow the trailer to keep advancing once I get ahead. I manually turn trailing stops off at +20 and then let it run. As price runs, I will manually advance my stop from time to time.
The only reason I don't use automatic trailing stop all the time is I don't want to get knocked out of a good trade too early.
Hope this helps. Good luck working the THV.
Edit: Personalme, if you do not have the patience to let a trade run, or are afraid of letting the positive pips get away, you can always just get out at +20 or +30 and then re-enter above the next resistance or below the next support. One thing to remember in this, however, is that you need to be very confident in the direction of the trend. I do this often, but when I do, I try always to be sure I'm re-entering within the rules of THV.
Up or down, gimme a ticket
- #2,024
- Jan 8, 2009 8:04am Jan 8, 2009 8:04am
- Joined May 2006 | Status: Still here. | 2,602 Posts
How do you guys maximize your profit when you trade a right trade?
I found my self close trade too early because of fear my profit will wane. As I said before, almost 80% if my position is right but when loss come it takes 2 or 3 times right trade to balance it.
On my side, I think that the market is always there and there will always be another opportunity should the one I decided to get in misses the "long run".
The other thing is that the market moves in waves, and usually will go back a few to continue its way, then again and so on. After watching a lot of PA, I have seen that around 80% of the time if stopped early you can get in at a better price or at least where you were stopped, after it pulls back. Exceptions are the huge spikes or runs, of course... but one can't win all the time
What worries me more are the losers (and computer or electricity issues... sigh), so I usually place stop at breakeven +1 as soon as possible (if trading on the M30 chart, as soon as price has touched 20 pips and reverses, if on M1 or M5, the same but at 11-12 pips). Then I use automatic trailing on MT4, at 25 pips distance (15 pips on M1-M5). It is quite near the entry but among the bunch of 1 pip and 15-30 pips trades, I sometimes hit some home runs that range from 90 to 200 (on M30 with 25 Trail - smaller TFs give smaller pips)!
I also have noticed that when price is what I would call "hesitant" it is better to wait a little and you'll see that if it keeps coming and going and stopping you out for few pips, it is most probably sideways or about to reverse. Also, if you missed the "perfect" entry, wait for a pullback to enter even if the signal is good, there's a lag in timing sometimes in our head that makes us take the decision exactly at the moment it is pulling back and precisely those are the pips to the stop... so we're out when we shouldn't be.
It will also depend on the PA and on what I see on the charts and if I am able to monitor the trade or not. Sometimes I will be adjusting the trail back and forth if it seems to have a further continuation but retraces heavily, but is energy consuming so mostly I will do that for the fun, usually I just accept what the market wants to give at that particular time.
I sometimes place a target but is not current now.
And on small timeframes (M1-M5) hard stops shouldn't be higher than 30-35 pips, IMO.
Hope it helps
- #2,025
- Jan 8, 2009 8:09am Jan 8, 2009 8:09am
- | Joined Jan 2008 | Status: a small step to the future | 560 Posts
Hi Personalme,
Thanks for your nice words. Glad to see that the THV system is working for you too. Cobra, Doblece and Tradewell are more experienced than I on this subject, but in their absence, I will tell you what I do.
I will also note your manual trail. Have done that before but I'm not good enough in that. Need more practice I think.
Just add another 50 pips while I write this
+140 so far for this day.
Manage your risk accordingly and you're half done your home work.
- #2,026
- Jan 8, 2009 8:25am Jan 8, 2009 8:25am
- | Joined Jan 2008 | Status: a small step to the future | 560 Posts
Thank you for your kind words
On my side, I think that the market is always there and there will always be another opportunity should the one I decided to get in misses the "long run".
....
Hope it helps
Manage your risk accordingly and you're half done your home work.
- #2,027
- Jan 8, 2009 8:43am Jan 8, 2009 8:43am
- Joined May 2006 | Status: Still here. | 2,602 Posts
Sometimes I also do averaging if I'm sure I have same direction with trend. Only and if only I think since averaging quite deadly trick when you are wrong.
I also do that but only on my "extreme scalping" on 5 seconds charts... and during Asia session, just in case. It is amazing how many pips can be "harvested" in a tight range... but is very risky at any other times.
It is roughly the same also as re-entering at a better price after being stopped with +1... more risk but better pips
- #2,028
- Jan 8, 2009 8:48am Jan 8, 2009 8:48am
- Joined Oct 2008 | Status: hit the road, Jack. | 500 Posts
it's amazing how euro seems to respect these quarter pivots
so far this week, I only traded two days and P/L is +8,4%
just keeping myself disciplined waiting for setups and taking only the best ones on M5, entry on M1, and of course money management under control (THV journal rocks)
so far this week, I only traded two days and P/L is +8,4%
just keeping myself disciplined waiting for setups and taking only the best ones on M5, entry on M1, and of course money management under control (THV journal rocks)
- #2,030
- Jan 8, 2009 11:29am Jan 8, 2009 11:29am
- Joined Oct 2008 | Status: Let the market come to you | 2,670 Posts
hi, I have tried demoing this for 1 week. Very impressed. Good results.
What pair is this recommended for? so far I have been trying on EURO. And which TF is the best for this system?
Most here trade the 5M, using 1M for entries.
We are glad it's working for you.
- #2,031
- Jan 8, 2009 12:15pm Jan 8, 2009 12:15pm
Doblece - very good advice as always . Maybe this has been answered , if
so please direct me to the post , is it possible to shift the line labels to the right on sdx-pivots ? so they would appear to the extreme right of the chart as sometimes now they are right where price action is . Many thanks
for all your good posts .
steel777
so please direct me to the post , is it possible to shift the line labels to the right on sdx-pivots ? so they would appear to the extreme right of the chart as sometimes now they are right where price action is . Many thanks
for all your good posts .
steel777
Thank you for your kind words
On my side, I think that the market is always there and there will always be another opportunity should the one I decided to get in misses the "long run".
The other thing is that the market moves in waves, and usually will go back a few to continue its way, then again and so on. After watching a lot of PA, I have seen that around 80% of the time if stopped early you can get in at a better price or at least where you were stopped, after it pulls back. Exceptions are the huge spikes or runs, of course... but one...
- #2,032
- Jan 8, 2009 12:34pm Jan 8, 2009 12:34pm
- Joined May 2006 | Status: Still here. | 2,602 Posts
Doblece - very good advice as always . Maybe this has been answered , if
so please direct me to the post , is it possible to shift the line labels to the right on sdx-pivots ? so they would appear to the extreme right of the chart as sometimes now they are right where price action is . Many thanks
for all your good posts .
steel777
Sorry for not being of much help on this subject
- #2,033
- Edited 12:52pm Jan 8, 2009 12:50pm | Edited 12:52pm
okay - thanks . maybe traderathome has the answer . If its in the too
hard or time consuming realm we shall live with what is .
hard or time consuming realm we shall live with what is .
Pivot lines appear on the current "day" (that is, normal broker day from 00:00 or personal settings of the indicator). Previous day is also marked with two vertical lines. So I think that maybe it couldn't be possible but anyway you should ask directly traderathome who has coded the indicator, I don't know if it can be done but who knows, maybe it is indeed possible to make them show in a different way?
Sorry for not being of much help on this subject
- #2,035
- Jan 8, 2009 6:38pm Jan 8, 2009 6:38pm
- Joined Aug 2008 | Status: Sharpen the Scalper Razor | 4,704 Posts
- #2,036
- Jan 8, 2009 6:48pm Jan 8, 2009 6:48pm
- | Joined Jul 2008 | Status: Clear Cut System Trader | 1,111 Posts
- #2,037
- Jan 8, 2009 6:58pm Jan 8, 2009 6:58pm
- | Joined Jul 2008 | Status: Clear Cut System Trader | 1,111 Posts
- #2,038
- Jan 8, 2009 7:02pm Jan 8, 2009 7:02pm
- Joined Aug 2008 | Status: Sharpen the Scalper Razor | 4,704 Posts
why are my pivots different than yours?
BTW, I'm looking for a valid THV long setup after touching 1.363x
- #2,039
- Jan 8, 2009 7:07pm Jan 8, 2009 7:07pm
- | Joined Jul 2008 | Status: Clear Cut System Trader | 1,111 Posts
ahh man i didn't see that.
- #2,040
- Jan 8, 2009 7:19pm Jan 8, 2009 7:19pm
- Joined Aug 2007 | Status: TARFU... | 7,015 Posts
FUBAR...