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THV system, final edition

  • #3,741
  • Jan 30, 2009 11:12am Jan 30, 2009 11:12am
Quoting SpecialEd
You're a nice guy, Cobra. I have always hoped that we could get the team together for a big celebration when we "make it". Through some very dumb trading on what should have been an easy day, I managed to lose 31 PIPs today. At this rate, I'll be too old to board a plane - or lift a glass.

It was a great week for the THV thread. Good trading to you all. I'm done for a while. Licking my wounds. Hmm, where's that cat.
huge ammounts of pips to make in the last two hours in 1M on cross of the cloud.

have a great weekend Ed.
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  • #3,742
  • Jan 30, 2009 11:13am Jan 30, 2009 11:13am
Hmmm! Will we see that .2765?
Maybe after the retest of .2797 MS3 on THV.

Watch our leetle friend, Trixie!

Cobra, going for allergy testing now, TT you this weekend, and I will drink one in your honor later tonight!

Thanks to Cobra, and all the team, and the great posts from traders this week!
As alot of politicians will say.....Our best days are ahead!

Trade carefully all!
  • #3,743
  • Jan 30, 2009 11:19am Jan 30, 2009 11:19am
Quoting Gofer Pips
Hmmm! Will we see that .2765?
Maybe after the retest of .2797 MS3 on THV.

Watch our leetle friend, Trixie!

Cobra, going for allergy testing now, TT you this weekend, and I will drink one in your honor later tonight!

Thanks to Cobra, and all the team, and the great posts from traders this week!
As alot of politicians will say.....Our best days are ahead!

Trade carefully all!
2765 could be the bottom for today and the week. It could end up being a double-bottom (H4), with a possible retracement next week following the drop of this week. But all that is just chit-chat. THV will tell us what to do when it comes.

Enjoy Gofer. Hope they don't tell you you're allergic to alcohol.
  • #3,744
  • Jan 30, 2009 11:19am Jan 30, 2009 11:19am
Quoting TradeWell
I heard there is a hotel near your place where we could all get together...
Yep, they have a nice bar with pool over there
  • #3,745
  • Jan 30, 2009 11:20am Jan 30, 2009 11:20am
Quoting TradeWell
Did you love them or did they love you?
I edited that post. Caught it too late. (-:
Up or down, gimme a ticket
  • #3,746
  • Jan 30, 2009 11:21am Jan 30, 2009 11:21am
Quoting Gofer Pips
Not necessarily. As long as T3 and PA have crossed Coral and candle closed on side of cloud in direction of trade, and our friend trix agrees, it is good entry!
Alot of this confusion will be gone with new THV2.1, but the THV2 is also excellent by its rules. The 2.1 is just cleaner and less rules for the mind.

Sometimes the cloud is above/below coral because fast move has not given cloud time to "float" back to PA.

Very good of you to be watching the cloud! Very important!
Thank you all guys for your answers....
Will keep learning...
  • #3,747
  • Jan 30, 2009 11:23am Jan 30, 2009 11:23am
Quoting TradeWell
2765 could be the bottom for today and the week. It could end up being a double-bottom (H4), with a possible retracement next week following the drop of this week. But all that is just chit-chat. THV will tell us what to do when it comes.

Enjoy Gofer. Hope they don't tell you you're allergic to alcohol.
Or to what they call here pips
  • #3,748
  • Jan 30, 2009 11:30am Jan 30, 2009 11:30am
Quoting sed34
i was wondering what is an appropriate limit on a m1 timeframe? when you enter into a position do you have a set limit or do you just let it run until you click the close button?
Hi Sed34,

(I'm still new, may be my method was not correct cause I just observe what I see and read, recently when I involve with forex)

Just wanted to share my scalping technique here beside the rules of THV (The trix is very damn important plus major and minor S/R). I'm always use M1 and only trade EURUSD.

Since the market is ranging what I did:
1. Indicate and mark all minor S/R and Daily pivot (DON'T TRADE when you cannot find, it should obviously view.)
2. Identify market trend. (Also DON'T TRADE if you can't clearly see it)
3. I never trade at Major S/R only minor S/R by pending order. Since my broker have 2 pips spread. My buy stop ranging 4/5 pips from minor resistance and my sell stop 1/2 pips from support, depend on the THV trix and RSI.
4. I had make my rules recently, NOT to trade during big news like always we had during New York open, only after brake out around 11.30 am NY time. (I loss 52 pips yesterday during that time and recover back to be loss at -30 pips).
5. For exit, I will use the instant close. This is by feeling.. . Sometime +1 pip is enough for me.

Good pips collect for NY session af for today +50 pips plus +5 pips in Asian session (need to go to office )

Have a nice weekend guys!! adios..

regards,
  • #3,749
  • Jan 30, 2009 11:35am Jan 30, 2009 11:35am
Quoting sed34
i was wondering what is an appropriate limit on a m1 timeframe? when you enter into a position do you have a set limit or do you just let it run until you click the close button?

No set limit, but trailings in case it runs much higher (or lower).
The range on M1 is very tight (see ATR) so you have to gauge from higher timeframes to have an idea of the potential of the trade.

Usually, and if I entered correctly, I will wait until it reaches 20 pips approximatively and set the stop to BE. Then a trailing of 25.
Sometimes if I consider that there's not enough momentum and the price stalls +1-1 at the same price for half an hour, I'll get out of the trade.
And of course, fastly at the cross back if I'm countertrending.
This on MT4.

On smaller TF scalping, I take what the market gives me: between +3 and +7 usually, and I run fast!

M1 will most usually (in a slow market) go like this: +15 -20 +10 +15 -15 -10 etc etc etc. You have to watch the channels to establish in which range it will be moving and evolving, in several TFs so to have the whole picture.
  • #3,750
  • Jan 30, 2009 11:37am Jan 30, 2009 11:37am
Quoting khelemen
Just wanted to share my scalping technique here beside the rules of THV Have a nice weekend guys!! adios..

regards,
great, that is what I call "making the system your's" adapting it to your trading stile, equity and risk appetite.

have a great weekend.
  • #3,751
  • Jan 30, 2009 11:38am Jan 30, 2009 11:38am
Quoting SpecialEd
I edited that post. Caught it too late. (-:
Freudian slip.
  • #3,752
  • Jan 30, 2009 11:48am Jan 30, 2009 11:48am
Quoting khelemen
Hi Sed34,

(I'm still new, may be my method was not correct cause I just observe what I see and read, recently when I involve with forex)

Just wanted to share my scalping technique here beside the rules of THV
I am glad to see you are catching on to the system.

Enjoy your weekend.
  • #3,753
  • Jan 30, 2009 11:48am Jan 30, 2009 11:48am
This could be off topic, what is considered as a decent spread for E/U?
I understand the spread varies for each pair/broker. For E/U anywhere between .8 to 3 (i dont think I have seen anything less than .8 yet with my broker, but the execution really lags). Especially when you trade on 1M and lower TFs, or for that matter any TF.

Thanks
  • #3,754
  • Jan 30, 2009 11:51am Jan 30, 2009 11:51am
Quoting karun
This could be off topic, what is considered as a decent spread for E/U?
I understand the spread varies for each pair/broker. For E/U anywhere between .8 to 3 (i dont think I have seen anything less than .8 yet with my broker, but the execution really lags). Especially when you trade on 1M and lower TFs, or for that matter any TF.

Thanks
I wouldn't accept more than 2, but variable spreads can go to 3 or higher in low volume conditions. If you have a larger account you should be able to get better spreads.
  • #3,755
  • Jan 30, 2009 11:52am Jan 30, 2009 11:52am
Quoting cobraforex
great, that is what I call "making the system your's" adapting it to your trading stile, equity and risk appetite.

have a great weekend.
Thanks Cobra,

This thread and THV, help me a lot and start to have better understanding from Doblece explanations about the system. Doblece, big thanksss!! and also after reading few times the first page.

Got to sleep with smile tonight (at least here is almost 2 am) . My turn to the beach tomorrow.

regards,
  • #3,756
  • Jan 30, 2009 11:55am Jan 30, 2009 11:55am
Oh my God! This thread is growing so FAST !
  • #3,757
  • Jan 30, 2009 11:56am Jan 30, 2009 11:56am
Quoting TradeWell
I wouldn't accept more than 2, but variable spreads can go to 3 or higher in low volume conditions. If you have a larger account you should be able to get better spreads.
I have 2 in one account and 3 on the other but they are fixed and never change, not even in news events.

That makes trading easier because you don't need to watch out every trade what is the spread.

I'm happy with that.
  • #3,758
  • Jan 30, 2009 11:56am Jan 30, 2009 11:56am
Quoting khelemen
Thanks Cobra,

This thread and THV, help me a lot and start to have better understanding from Doblece explanations about the system. Doblece, big thanksss!! and also after reading few times the first page.

Got to sleep with smile tonight (at least here is almost 2 am) . My turn to the beach tomorrow.

regards,
You are always welcome!
I am really glad that it has been of help.
Practice makes perfection!
Enjoy your well deserved week-end holiday, have a good rest so you can come back in full force for next trading week!

To everyone, have a good week-end as well, and be sure of spending some quality time in real life
  • #3,759
  • Jan 30, 2009 12:02pm Jan 30, 2009 12:02pm
Quoting TradeWell
I wouldn't accept more than 2, but variable spreads can go to 3 or higher in low volume conditions.
Thanks TW. I was trying to figure out spread vs execution. Whether it is worth paying a .5/1 pip more in spread against an execution taking around 5-7 seconds for execution.

Quoting TradeWell
If you have a larger account you should be able to get better spreads.
I hope to build a larger account from my small one with the help of THV
  • #3,760
  • Jan 30, 2009 12:02pm Jan 30, 2009 12:02pm
Quoting karun
This could be off topic, what is considered as a decent spread for E/U?
I understand the spread varies for each pair/broker. For E/U anywhere between .8 to 3 (i dont think I have seen anything less than .8 yet with my broker, but the execution really lags). Especially when you trade on 1M and lower TFs, or for that matter any TF.

Thanks
It's usually 2 as an average on almost all platforms...
Some can go as low as 0.5 and up to 3 depending on volatility/volume, the most important thing though is not as much the spread but the swiftness of execution. For scalping it is better to have a one-click fast responding platform, price can move 10 pips back and forth in less than 10 seconds! so the fast response is a MUST.

On MT4 I don't like to scalp, it takes more than 5 seconds sometimes from the click to the open and even more for the close. Very scary, not appropriate on less than 5 pips...
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