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THV system, final edition

  • #3,421
  • Jan 28, 2009 2:44pm Jan 28, 2009 2:44pm
Quoting TradeWell
Did you ever forget and leave a stray line on your chart, then see that PA magically respects it? Funny huh?

god, I am falling in love with the new charts. Can I join the beta testing ?
  • #3,422
  • Jan 28, 2009 2:53pm Jan 28, 2009 2:53pm
I have an account in Fxpro, can anyone of you tell me how good is that broker?
  • #3,423
  • Jan 28, 2009 2:56pm Jan 28, 2009 2:56pm
Quoting Baqtrader
I have an account in Fxpro, can anyone of you tell me how good is that broker?
you're gonna get banned
  • #3,424
  • Jan 28, 2009 3:04pm Jan 28, 2009 3:04pm
Quoting Baqtrader
I have an account in Fxpro, can anyone of you tell me how good is that broker?
You might want to send a PM to doblece, I know that she trades live with FXpro.

May be she can tell you something about the experience with them.

No Sed, you can talk about brokers without getting banned, there is also a Broker Forum that discusses everything related.
  • #3,425
  • Jan 28, 2009 3:09pm Jan 28, 2009 3:09pm
Quoting ForexTrader1
god, I am falling in love with the new charts. Can I join the beta testing ?
Nope , we are almost done.

I will be out for the rest of the day working on the V2.1 stuff, see you later:nerd:
  • #3,426
  • Jan 28, 2009 3:09pm Jan 28, 2009 3:09pm
Quoting Gofer Pips
Hammer would have a long tail with a small upper real body(either color) and a small upper shadow(wick).

Just to clarify, most all these reversal patterns usually occur after a long trend move, and require some confirmation. The one candle move was a spasmotic event
On my chart (data feed from ODL) it was almost a hammer but the upper wick was too long. Could be a difference in borker feeds.
  • #3,427
  • Jan 28, 2009 3:10pm Jan 28, 2009 3:10pm
Hi all,

I'm still trying to get to grips with this system and thanks in particular to SpecialEd, Tradewell and of course Cobra for your replies and help thus far.

My ability to scupper any new system is quite amazing and I must admit that I'm finding this one difficult to nail. My nature is rather erratic (I always have to be doing something) and scalping therefore suits my personality so I will be using the 1m scalp strategy.

Would I be right in assuming that to scalp this strategy successfully, one would need to look at M1, M5 & M15 simultaneously. Problem is I don't have a 22" screen so if possible I only want to look at 2 charts.

Would this be ok?

Thanks again

Dazzer
  • #3,428
  • Jan 28, 2009 3:12pm Jan 28, 2009 3:12pm
Quoting cobraforex
You might want to send a PM to doblece, I know that she trades live with FXpro.

May be she can tell you something about the experience with them.

No Sed, you can talk about brokers without getting banned, there is also a Broker Forum that discusses everything related.

Thanks a lot Cobra... but may you answer what is a PM.. I'm new in the forums
  • #3,429
  • Jan 28, 2009 3:18pm Jan 28, 2009 3:18pm
Quoting Baqtrader
Thanks a lot Cobra... but may you answer what is a PM.. I'm new in the forums
PM=Personal Message
  • #3,430
  • Jan 28, 2009 3:21pm Jan 28, 2009 3:21pm
Quoting Dazzer
Hi all,

Problem is I don't have a 22" screen so if possible I only want to look at 2 charts.

Would this be ok?

Thanks again

Dazzer
Yezz, just skip sometimes to the 15M to see how it performs.

BTW: a 19" does it as well
  • #3,431
  • Jan 28, 2009 3:23pm Jan 28, 2009 3:23pm
Quoting TradeWell
Did you ever forget and leave a stray line on your chart, then see that PA magically respects it? Funny huh?
YES!
I used to leave old trendlines and "magically", as you say, PA bounced off old levels... I guess this might be not so magical, after all...
  • #3,432
  • Jan 28, 2009 3:26pm Jan 28, 2009 3:26pm
Quoting Baqtrader
I have an account in Fxpro, can anyone of you tell me how good is that broker?
I have been in FxPro since North Finance sold them the brokerage and we were transferred. Overall the experience is good, no problem with the withdrawals, they also accept Paypal as alternate method of funding/withdrawal, and the spreads are very small (and variable - between 2 and 0,5 EUR/USD).

Oops: hadn't read Cobra's PM message... anyway this way the info serves for anyone around
  • #3,433
  • Jan 28, 2009 3:40pm Jan 28, 2009 3:40pm
Quoting Baqtrader
Thanks a lot Cobra... but may you answer what is a PM.. I'm new in the forums
Cobra might be gone, but it means private message. Make sure in your user settings you are setup to receive them, otherwise you can't send them.
  • #3,434
  • Jan 28, 2009 3:52pm Jan 28, 2009 3:52pm
F**K I miss the news,.. There was a Huge candle, Oh!, almost 100 pips.. ...

NAhh, I'm going to scalp....
What does not kill me makes me stronger. Friedrich Nietzsche,
  • #3,435
  • Jan 28, 2009 4:03pm Jan 28, 2009 4:03pm
Quoting Dazzer
Hi all,

I'm still trying to get to grips with this system and thanks in particular to SpecialEd, Tradewell and of course Cobra for your replies and help thus far.

My ability to scupper any new system is quite amazing and I must admit that I'm finding this one difficult to nail. My nature is rather erratic (I always have to be doing something) and scalping therefore suits my personality so I will be using the 1m scalp strategy.

Would I be right in assuming that to scalp this strategy successfully, one would need to look at M1, M5 & M15 simultaneously....
Yep. Cobra and I do things a bit differently, but I look only at M1 and M5 for scalping. Even then, I only have one chart on my screen at a time. Remember that Metatrader will let you open multiple charts and it keeps them in tabs along the bottom, like Microsoft Excel does with its workbooks. When I want to look at another, I just click over and back (I'm dealing with a 15-inch, old laptop).

One thing to remember, THV is like any other system in that it is easier to scalp in the direction of the trend. Therefore, when the action is a bit slow or confusing, I will take periodic peeks at M15, M30, H1, H4 and Daily. That said, THV is the easiest system I've seen to scalp counter-trend. Just expect fewer PIPs in that case.

BTW, before you go blaming yourself for "scuppering" the system, remember that price action has been especially challenging over the past few days. When there is a well-established trend, THV on the M5 is a smooth-running machine.

Hope this helps.
Up or down, gimme a ticket
  • #3,436
  • Jan 28, 2009 4:15pm Jan 28, 2009 4:15pm
Quoting SpecialEd
Yep....
Thank you, yes it does.
  • #3,437
  • Jan 28, 2009 4:32pm Jan 28, 2009 4:32pm
This MT4 thing doesn't draw Fibonacci extension lines ! , or it does and i don't know how?

it has something called Fibonacci expansion but they are barely similar to each other.
  • #3,438
  • Jan 28, 2009 4:38pm Jan 28, 2009 4:38pm
SpecialEd, I set up my charts just about the same and even with an old 17" monitor it seems to work well. I first have a 1 Min chart with THV. next on the left is 15 min with a different setup, then 1 hr and finally daily. It's very easy to swith back and forth to check higher tf's for trends and s/r levels then back to the 1 min for the trade. To be honest, it works for me. No need investing in hi/tech multi monitor setup unless that's what you want. I only trade 3 pairs so just have 12 charts plus one to "play" with.
Hej.
  • #3,439
  • Jan 28, 2009 4:45pm Jan 28, 2009 4:45pm
Quoting mentos
This MT4 thing doesn't draw Fibonacci extension lines ! , or it does and i don't know how?

it has something called Fibonacci expansion but they are barely similar to each other.
My MT4 fib tool has the extensions. If your's doesn't, right click on the fib and you can define them in the "Fibo Levels" tab.
  • #3,440
  • Jan 28, 2009 4:47pm Jan 28, 2009 4:47pm
Quoting mentos
This MT4 thing doesn't draw Fibonacci extension lines ! , or it does and i don't know how?

it has something called Fibonacci expansion but they are barely similar to each other.
Use the Fibonacci Retracement on the toolbar. It lets you enter whatever extra positive and negative settings that you want. When you type in the percentages on each line in the "Fibo Levels" tab, you can show the percentage and any text that you might type after it (e.g., like a hypen to separate percentage from price). Just type "%$" - leave off the quotation marks, just %$. I'll post a chart to show you what it winds up looking like.
Up or down, gimme a ticket
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