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THV system, final edition

  • #2,321
  • Jan 14, 2009 4:08pm Jan 14, 2009 4:08pm
Quoting cashmeer
If it is negatively affecting others, I will stop posting during the trading sessions...I know you are not reprimanding me for this....I just post to point out various entries, ususally after the fact...

The divergence question was about using the green or red trix [which no one answered] and the heads or tails chart was really heads or tails...

As Karun mentioned I mean that I am going to live.com [microsofts websearch] "triple swap day" to find out what it means...

Doblece, thank you for everything!
Nooo !!! Not at all !!! please don't stop posting !
I was meaning to say that, if one is reading and trading at the same time, it is easier to lose focus on one's own trading and maybe even incur in doubt (though here as we all share the same system this wouldn't occur) .
And also I was meaning to say that one should not change one's own trust in a particular system because others aren't having the same results or are discouraged... and that one should build up a bullet-proof confidence in one's own trading.

Triple swap day: swap (or overnight rate) is deposited (or withdrawn) from accounts every day at USA closing time. However, as saturday and sunday there is no activities, on wednesday the swap given or taken is triple its amount, to make up for those two week-end days. That way there is 7 days of swap accounted for, and usually (but this more particularly on high swap pairs like GBP/JPY and others, though I've seen the move 80% of the time about half an hour before the close of the day) on one side shorters are closing their positions not to pay the triple swap (which is negative on EUR/USD) which makes the price go up, and buyers come in so to profit from its positive side... and more upside.

Not much on small positions... but it moves the market anyway. A little bit.

If the trend was opposite, you will see it resuming fast as soon as the first candle of the next day closes up.
  • #2,322
  • Jan 14, 2009 4:13pm Jan 14, 2009 4:13pm
Quoting karun
I think he / she was saying like

I'm going to google "triple swap day"... Live is another search engine....
LOL you're right... sorry for the misunderstanding but nonetheless there's never too much of a reminder
  • #2,323
  • Jan 14, 2009 4:15pm Jan 14, 2009 4:15pm
Quoting wwwin
Was the market on more of a trending mode yesterday than today? Were you trading with the trend both days?
For me was more difficult to trade yesterday, it was quite choppy in the bear move and easy to get stopped out in smaller TF's.

What we all need to understand is that the market is the boss and if we don't follow what he says or does we're gonna get fired.
  • #2,324
  • Jan 14, 2009 4:21pm Jan 14, 2009 4:21pm
Should I have taken this trade or not? (this is on demo). I'am not so sure about the entry because of the Trix, even though it is above 0, its starting to point downwards. So, does that makes this an invalid setup? After I took the trade, I checked the 1M chart, it was an invalid setup in 1M TF. Hence my earlier questions on 1M / 5 M TF.


Also other than this one setup, I did not see any other valid setup for today in my chart, it very much seemed to be a range. Unless there is something wrong with my chart or the way I have done thv setup.
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  • #2,325
  • Jan 14, 2009 4:32pm Jan 14, 2009 4:32pm
Quoting karun
Should I have taken this trade or not?
What fails the the trading time, low volume can cause unexpected moves.

THV and most other systems need trending markets that you'll find mostly in the complete London session.

The Asian session is good for scalping some pips.

I just figured out that you don't have the right setup for the Pivot indicator, I have the MS1 at 3190 and that would give me reason not to take that trade till it got broken and retested !!!
  • #2,326
  • Jan 14, 2009 5:04pm Jan 14, 2009 5:04pm
Hey Cobra, Enjoy your scotch, because could be the last one. Correa will restrict all alcoholic drinks.

Quoting cobraforex


I’m going to close the trading room now and have a relaxing Jack Daniels and be back for the London session..
What does not kill me makes me stronger. Friedrich Nietzsche,
  • #2,327
  • Jan 14, 2009 5:21pm Jan 14, 2009 5:21pm
Quoting cobraforex
What fails the the trading time, low volume can cause unexpected moves.

THV and most other systems need trending markets that you'll find mostly in the complete London session.

The Asian session is good for scalping some pips.

I just figured out that you don't have the right setup for the Pivot indicator, I have the MS1 at 3190 and that would give me reason not to take that trade till it got broken and retested !!!
Attached is the settings I have for Pivot indicator. My broker is GMT -5, and I wanted the start time as NY. Let me know If I need to change any thing else. I have not changed anysetting on the Market Hours indicator. Do I need to change anything here ?

Thanks
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  • #2,328
  • Jan 14, 2009 5:34pm Jan 14, 2009 5:34pm
Quoting karun
Attached is the settings I have for Pivot indicator. My broker is GMT -5, and I wanted the start time as NY. Let me know If I need to change any thing else. I have not changed anysetting on the Market Hours indicator. Do I need to change anything here ?

Thanks
I only trade the London session, so my new day and with that my pivot calculation begins at 00:00 GMT, in 30M.
Other traders use NY close but my pivots are microscopic exatly.
  • #2,329
  • Jan 14, 2009 5:34pm Jan 14, 2009 5:34pm
Quoting karun
Attached is the settings I have for Pivot indicator. My broker is GMT -5, and I wanted the start time as NY. Let me know If I need to change any thing else. I have not changed anysetting on the Market Hours indicator. Do I need to change anything here ?

Thanks
That would mean your broker "start of the day" occurs when it's GMT 17:00 thus USA EST 12:00 ? Please check your hourly candle, we are into the middle of the second hourly candle of the day (according to EST start of USA open/close), and tell us which candle you have. Then I'll be able to tell you how to configure the setting. Oh, I think I can do this by checking on the charts you've posted anyway. Let me see and I'll get back to you ASAP.
  • #2,330
  • Jan 14, 2009 5:36pm Jan 14, 2009 5:36pm
Quoting ikki
Hey Cobra, Enjoy your scotch, because could be the last one. Correa will restrict all alcoholic drinks.
Yeah, I just got an email about that but I will fill my stock now.

It will get more expensive and with that we need to make more pips.

BTW: Jack Daniels is from Tennessee, not Scotland
  • #2,331
  • Jan 14, 2009 5:59pm Jan 14, 2009 5:59pm
Quoting doblece
That would mean your broker "start of the day" occurs when it's GMT 17:00 thus USA EST 12:00 ? Please check your hourly candle, we are into the middle of the second hourly candle of the day (according to EST start of USA open/close), and tell us which candle you have. Then I'll be able to tell you how to configure the setting. Oh, I think I can do this by checking on the charts you've posted anyway. Let me see and I'll get back to you ASAP.
1Hr Chart and 1Hr Chart with market watch.

Thanks
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  • #2,332
  • Jan 14, 2009 6:05pm Jan 14, 2009 6:05pm
Quoting karun
Attached is the settings I have for Pivot indicator. My broker is GMT -5, and I wanted the start time as NY. Let me know If I need to change any thing else. I have not changed anysetting on the Market Hours indicator. Do I need to change anything here ?

Thanks
Exactly what I thought.
The candle you have where the start of the day indicator appears, is showing at your broker's 10:00am. This is not correct, as that would be equivalent to 12:00m EST... It should be showing on your 17:00pm candle, which is 17:00 EST.

So, if you want to start with the USA open/close, your setting would have to be -5, 2 (please do check anyway, the vertical line labeled "today" should appear at your 17:00 candle).

Just for info:
My broker is at GMT+2 which 00:00 start always coincides with the USA open/close (as both have daylight savings time).
Your 10am candle is on my chart the 17pm candle (7 hours difference)
When my platform shows 00:00 (and its 17:00 EST) , it shows 17:00 of the previous day on yours.
So in fact your platform is showing the real time, being in the same time zone as EST market. However, for the pivot indicator to take the range between 17:00 start and next day's 16:59 close, you have to set it up so the first candle (00:00) begins at 17:00 EST.
That's why -5 and 2 settings, the 7 hours difference of your platform (5 on one side - EST to GMT, and 2 on the other side GMT to GMT+2) with mine which begins exactly at the EST time.

GMT+2 is equal to 00:00 GMT.
USA open/close occurs at 22:00 GMT.

Now if you want to start the day at 00:00 GMT like Cobraforex, I'll be posting further calculations later on.

Hope I didn't confuse you too much
Summarizing:
1st setting = -5
2nd setting = 2

P.S.: That was easy.
If you want your day to start at GMT 00:00 (two hours later) just substract the two hours on the second setting.
That would be -5, 0 instead of the above.
The line would be showing on your 19:00 candle, which is equivalent to GMT time 00:00.
  • #2,333
  • Jan 14, 2009 6:14pm Jan 14, 2009 6:14pm
Quoting cashmeer
let us know you you fair....

it's a darn good system sed...everytime I see nuancom posting his/her charts there are the most basic trendlines on there. I am sure if you just draw them out you will filter out a great deal of the losing trades...

t/ls on the 1 min and 5 min have helped me so much...

you can even draw them after the fact and see where PA bounces along the lines way after the original 2 or 3 hits....

don't get discouraged, you'll end up discouraging others...
i will. it is good for when price action has strong momentum behind it. if it is ranging you will get whipsawed. this system is not designed for ranging or choppy pairs. its too conservative. i know there are filters, but the timing was off for me.
  • #2,334
  • Jan 14, 2009 6:15pm Jan 14, 2009 6:15pm
Quoting TradeWell
I think the best suggestion for you was when Doblece said to go back to trading with it on demo. There you can work out the kinks before going back live. You could also use a trading simulator to "re-trade" the day to see how you could have done better.

We want to help you be successful.
i'm doing that now as well the alterations. thank you for the suggestion
  • #2,335
  • Jan 14, 2009 6:16pm Jan 14, 2009 6:16pm
Quoting doblece
I sent you a PM.
thanks for your kind words. i will. get ready.
  • #2,336
  • Jan 14, 2009 6:17pm Jan 14, 2009 6:17pm
Quoting doblece
It is up to everyone to adjust any trading system to one's own best comfort and results. However, there is a common mistake that we all make at one time or another of our trading journey, and it is not to stick with any system, changing and jumping from one to another as soon as results are not what we expect (usually, we ALL at one point or another expect trading to be a 100% win/win situation, which NO system will give, even the best ones).

I personally HATE losing. But I've come to grips with it and now I trash happily and really fast any dubious...
you hit the nail on the head. there is a big lag i think. in order for it to work and get some pips out of it there has to be strong momentum to keep going. otherwise you enter when its over.
  • #2,337
  • Jan 14, 2009 6:17pm Jan 14, 2009 6:17pm
Quoting doblece
So, if you want to start with the USA open/close, your setting would have to be -5, 2 (please do check anyway, the vertical line labeled "today" should appear at your 17:00 candle).

Summarizing:
1st setting = -5
2nd setting = 2
Yes, the "Today" line shows at 17:00 candle after the provided settings.

It is little confusing on how you arrived at it, I'll read it few more times and see If I can understand it.

Thanks for the help.
  • #2,338
  • Jan 14, 2009 6:18pm Jan 14, 2009 6:18pm
Quoting sed34
thanks for your kind words. i will. get ready.
Bring it on!
I'm prepared!
(j/k)
  • #2,339
  • Jan 14, 2009 6:20pm Jan 14, 2009 6:20pm
Quoting okehiedon
Hi Sed34
I think that the first thing you need to do is understand your personality and style of trading and then ask yourself whether a particular system will suit you. I think that is the way to go. Even though a system maybe very good it doesn't follow that everyone would be succesful with it. Personally I have gone through nearly all the systems on FF, before understanding that it is all about the trader. You really must understand your pysche.
Personally the THV is robust and well defined system as it is and I use it to complement my other...
my confidence is still high. today taught me a lot about this system. there are areas of weakness that need to be fixed.
  • #2,340
  • Jan 14, 2009 6:29pm Jan 14, 2009 6:29pm
Quoting karun
Yes, the "Today" line shows at 17:00 candle after the provided settings.

It is little confusing on how you arrived at it, I'll read it few more times and see If I can understand it.

Thanks for the help.
It is simpler than it seems (only that I usually get all messed up when calculating all those timezones differences, lol). Sorry for the confusion.

The second setting is the tricky one, as it uses positive value instead of negative, and besides you are not willing to start at 00:00 of USA time (which is already your own 00:00 time, being at EST) but 7 hours earlier (17:00 to 00:00 = 7 hours).

For GMT 00:00 starting it's easier, as there is zero difference between start time and GMT time.
For GMT 22:00 start (17:00 EST) you have to add the 2 hours on the second setting (because instead of a negative value, it works with positive ones).
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