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THV system, final edition

  • #3,881
  • Jan 31, 2009 12:19pm Jan 31, 2009 12:19pm
Quoting bythepound
Are my settings below correct??????????......Going Crazy is Oregon!
I understand what you are going through. I struggled with this in the beginning too. Then this is what I decided to do: I only focused on changing the first number until it was correct. You know it is correct once you see that the recalculation of pivots occurs at the time you want. For example, when my broker's server was on GMT, and I wanted to set it for NY close, I put -2. In other words, a zero would imply "calculate pivots at GMT 00:00", which is midnight in London but 7 pm NY. A -2 brings pivot calculation to 5 pm NY which is the close of market there. I know it can be complicated but if you keep experimenting with the numbers you will get the right one. This is not "by the book" but to me is simpler and gets the job done.

The key numbers are server time and what close you want pivots calculated for. Based on your server being -5, and that you want NY close pivots (you can't have them for both sessions unless you make 2 charts), I would guess your settings would be -7. A -5 setting would give you London midnight pivots and the additional 2 hour shift gives you NY close. Please try that and see if it looks right. Once you get it you are done but it can be until you do.
  • #3,882
  • Jan 31, 2009 12:24pm Jan 31, 2009 12:24pm
Hi

I'm not participating in the actual conversation because I'm in the last points to get ready the release of the new THV version.

The evolution is that much that I decided to name it V3.

If Mrs. Cobra give me enough time this weekend we might release tomorrow and everybody can try it on demo the upcoming week.
  • #3,883
  • Jan 31, 2009 12:31pm Jan 31, 2009 12:31pm
Quoting cobraforex
...The evolution is that much that I decided to name it V3...
I agree Cobra.
  • #3,884
  • Jan 31, 2009 12:44pm Jan 31, 2009 12:44pm
Quoting Gofer Pips
*Since this is the THV thread, the terminology and system discussed will be based upon that.

----------

There are many variations of this philosophy, and there are very good traders in the THV thread that I am sure will share their techniques.

Hope this was helpful!

Excellent description of MM during the trade, Ron!
I couldn't have done it better (especially because I don't use thus am not accustomed to this kind of partial closures).

The only thing I will do is to set the stop at BE after "x" number of pips depending on the TF (20 on M30, 7-12 on M1) and depending if my trade is going countertrend or not. I also use trailing stops set at 25 (15 on M1 and depending on the volatility and previously mentioned conditions). I only open one position at a time because my equity and minimum lot size on my platform still doesn't allow me multiple lots. I will also set the stop at BE if the HA candle changes color but everything else seems to say that the trend will go on. If not, I will close the position at that moment and wait for either a better entry on the same direction later on, or for another trade under the rules.

Plural of Trix = Trixes (fox = foxes).
Or if irregular, could be Trixen (ox = oxen).
Trixi sounds latin
  • #3,885
  • Jan 31, 2009 12:53pm Jan 31, 2009 12:53pm
Quoting TradeWell
The key numbers are server time and what close you want pivots calculated for. Based on your server being -5, and that you want NY close pivots (you can't have them for both sessions unless you make 2 charts), I would guess your settings would be -7. A -5 setting would give you London midnight pivots and the additional 2 hour shift gives you NY close. Please try that and see if it looks right. Once you get it you are done but it can be until you do.
Indeed this is absolutely correct, and could avoid the confusion between both settings. Maybe we could consider leaving a single setting on the indicator and write a new revision text so it becomes simpler to explain thereafter.

In the present state of the indicator though, the settings can be either -7,0 as your example, or -5, 2 for NY close, which will place the starting line at EST 17:00
  • #3,886
  • Jan 31, 2009 12:58pm Jan 31, 2009 12:58pm
Which pivot setting are the best. In other words the pivots that market follows or the big dogs follow?
Yea it's Life//
  • #3,887
  • Jan 31, 2009 12:59pm Jan 31, 2009 12:59pm
HEEE all you guys.

GREAT material that has been posted the past 24 hrs.

LOL...I am copying and pasting this into different folders, as I don't want to lose it and want to be able to go over it in slow market hours again and again.

ONE THING I would like to add:

The fysical part of trading.

The fatigue, the burning eyes, the incorrect position we sit in our chairs. the lack of proper sleep.

Doblece is sooo much better with English then I am.
Maybe you like to post a better explanation about those subjects.

...and Gofer_pips, love your stuff as much.

GREAT JOB ALL !!!!!!
  • #3,888
  • Jan 31, 2009 1:00pm Jan 31, 2009 1:00pm
Does the new THV V3 represent only an improvement to the visual presentation of the indicators, or is there also a corresponding change to the rules to increase profitability?
  • #3,889
  • Jan 31, 2009 1:01pm Jan 31, 2009 1:01pm
Quoting FxNobody
...How can u explain this pic?
Simple: though usually (in normal conditions) the spread would indeed be of 2 pips on USDCHF at your broker, the increased volatility or volume made them change temporarily the spread to adjust to those conditions. It usually happens during news time, or at a certain moments of the day. If only that pair is involved I would guess there was some news for the swiss franc going on at that time.
  • #3,890
  • Jan 31, 2009 1:07pm Jan 31, 2009 1:07pm
Quoting DocPMD
Does the new THV V3 represent only an improvement to the visual presentation of the indicators, or is there also a corresponding change to the rules to increase profitability?
Visual presentation, improvement of indicators, adding rules for different types of risk appetite, voice and chart alerts for analyzing the different situations and more precision overall so profitability is increased and safety reinforced.
  • #3,891
  • Jan 31, 2009 1:37pm Jan 31, 2009 1:37pm
Quoting Freddyfx

ONE THING I would like to add:

The fysical part of trading.

The fatigue, the burning eyes, the incorrect position we sit in our chairs. the lack of proper sleep.

Doblece is sooo much better with English then I am.
Maybe you like to post a better explanation about those subjects...
Hi Freddyfx.

Doblece probably can elaborate more but I can give you my personal experience.

I was frustrated with missing "big moves" by not trading the London session. Being on the West Coast of the U.S., I had not wanted to trade during sleep hours. But, I thought, "gotta get the pips" and changed to some really strange hours. As luck (or rather cycles) would have it, London went somewhat "cold" and I didn't get much extra out of it. What was worse, my sleep hours caused my head to be in a fog, and my life felt surreal. I switched back to normal hours, but still not happy, I tried "partial" London hours. I would set price alarms so I would awake when key levels were hit to try and jump into the trend. This did not work for I was frequently too late, then if I tried to wait for more movement I would fall asleep in my chair, missing the move I had waited for. Then, the next day, my head was in the fog again.

The moral of the story (MY moral) is trade the hours that keep you happy and healthy. I will change my strategy to fit the hours I CAN trade rather than trade the hours that fit one strategy. Some of you can handle the strange, erratic sleep hours and do fine. That's great. But keep in touch with your mental and physical state. I have a stretching routine everyday; I try to play an outdoor game 30-45 minutes everyday; I take 5-10 minute breaks every few hours to clear the mind and reset my point of reference; anything you can think of to regain your balance can work.

We have to remember we are human and not a machine (quoting Doblece). So let's act like one!

BTW Freddy, I was getting a sore back from sitting in this chair all the time, so I know exactly what you mean.
  • #3,892
  • Edited 1:53pm Jan 31, 2009 1:41pm | Edited 1:53pm
Quoting Freddyfx
ONE THING I would like to add:

The fysical part of trading.

The fatigue, the burning eyes, the incorrect position we sit in our chairs. the lack of proper sleep.
Forex trading has to be treated as a job.
With a proper (and limited) schedule which accomodates in your life the best market hours for your strategy as well as the rest of your obligations: family, maybe still a standard job, recreation, friendship, study and (the most important thing) proper rest and sleep.

As for a standard job, you should have the proper tools, and this includes not only a good Internet connection, a good computer and alternative elements to supply when one of the others falter, etc... You should "build your office" like you would for any other type of working situation. Free of distractions, a good and anatomical chair if your strategy asks for long hours of screen time, frequent short interruptions to relax the eyes if you have been looking at the screen for an hour, proper exercise, etc....

NEVER trade if you feel sleepy (imagine that your job involves operating a very dangerous machinery!) indeed Forex won't cut your hand neither you will slip and fall at the factory floor... but you could risk to blow your account as the risks of committing a mistake are way much higher when we aren't able to focus properly, i.e., lack of sleep, too many hours doing the same thing, physical pain because of improper furniture, a drink or two that lowered your attention capacity...etc...

Choose your trading session carefully taking all those elements into account. Set yourself a daily goal in pips AND in time spent at the screen. If not met, tomorrow is another day and the markets never stop. I personally don't stay more (now) than 3 continuous (and interrupted) hours trading because that is the maximum attention span that I have on a single task. To rest, I change the task like doing some writing, reading, studying, answering emails, etc... then I "come back" to the charts refreshed. And I have two shifts (one is in the morning for one platform, at NY session, with THV, the other in the afternoon for the other platform and my other strategy) and I added a "mini" shift for the third platform where I set up trades and go to sleep, an hour before shutting everything down.

I used to have a continuous day starting on sunday open till friday close... with only cat naps in the meantime, had my sleeping hours all messed up because I wanted to trade Europe and London and so had to sleep in the afternoons with all the normal people around me interrupting my sleep... etc etc... Now with this new schedule I can finally sleep at normal hours, and still trade (and be more efficient as everything has its own time and place and proper order) even more than before.

P.S.: Just read TW post, it's exactly the same that happened to me "Surreal" is the word.
Thanks for the input!
  • #3,893
  • Jan 31, 2009 2:11pm Jan 31, 2009 2:11pm
Quoting doblece
Simple: though usually (in normal conditions) the spread would indeed be of 2 pips on USDCHF at your broker, the increased volatility or volume made them change temporarily the spread to adjust to those conditions. It usually happens during news time, or at a certain moments of the day. If only that pair is involved I would guess there was some news for the swiss franc going on at that time.
I give alle the person in this thread new names ... Gofer is Ed ...


to doubleCCI
-----------
I think you are wrong.

EUR/USD -> Spread 5
USD/YEN -> Spread 5
GBD/USD -> Spread 10
USD/CHF -> Spread 10
...

You are right that the retail broker, got a small marketshare, but we trade exactly with this broker. In german we said to this topic "Zwischenhandeln". Iīm looking for an good english definition and than I will postet here. They are the sharks and u are the small fish. (Remember cobras pic). I donīt know the english word.

Read this thread and u know what I mean.
http://www.forexfactory.com/showthread.php?t=70582

to Gofer
--------

Minimize your risk, if your cash will grow. I know some people, they made realy between 200% and 400% per year with forex, but the accounts of these people are small.

For example a friend of mine started with 5000 EUR, and now he had an value after 2 years from about 30.000 EUR. It isnīt a rarity in the hole forexworld.

But I donīt know a fondmanager he made the same perfomances. I know why. He adapt his riskmanagement to the accountsize.

If it true what gofer said,(Never change your RM) than we must found many fundmanager, who made more than 200 % performance, each year.

Know anybody else an fondmanager he made every year between 200% and 300 %?

That what I mean you can take an higher risk with an small sized account,
but if your money get bigger and bigger, than a day will come and you lose a lot money. Believe me and u donīt know why. But the Hedgefonds and your broker know why.
(Level II)

FxNobody
  • #3,894
  • Jan 31, 2009 2:17pm Jan 31, 2009 2:17pm
Good point Freddy!
Good follow-up posts TW and CC!

The most difficult situation, is trying to trade and fill orderbook and work another job also. It was very taxing on my sleep time when I committed to study,study,study, and trade as well as work a full time job!

There must be balance in your life to have success!

If you do not take care of yourself, you can not take care of others.

What is the purpose of the fruits of your labor, if you have no time or energy to enjoy and share them?
  • #3,895
  • Jan 31, 2009 2:35pm Jan 31, 2009 2:35pm
Quoting TradeWell
I understand what you are going through. I struggled with this in the beginning too. Then this is what I decided to do: I only focused on changing the first number until it was correct. You know it is correct once you see that the recalculation of pivots occurs at the time you want. For example, when my broker's server was on GMT, and I wanted to set it for NY close, I put -2. In other words, a zero would imply "calculate pivots at GMT 00:00", which is midnight in London but 7 pm NY. A -2 brings pivot calculation to 5 pm NY which is the close...
Okay - becomming more clear now. I will try this out this weekend and see what I get. I really appreciate the help on this folks!
Without vision, the people will perish.
  • #3,896
  • Jan 31, 2009 2:37pm Jan 31, 2009 2:37pm
Quoting Gofer Pips
I will try to simplify as Doblece has very thoroughly discussed this matter ad nauseum, and I can do nothing better as I am simple-minded!

If you will try the settings at...

Just what I needed to know. Thanks.
Goal #1 Make Money, Goal #2 Don't Lose Money, Goal #3 Remember Goal #1
  • #3,897
  • Jan 31, 2009 2:45pm Jan 31, 2009 2:45pm
Quoting doblece
Your own time zone does not enter the calculations. The pivot indicator takes into account the platform's time and the time you want to start the day.

To have exactly the same pivots as Cobra you should be using the same platform that he is using, because prices usually can differ even if by one pip and this will change the results.

However, Cobra uses GMT 00:00 as the start of the day, and I think that IBFX is at GMT (please someone who uses that platform confirm) so the settings would have to be 0,0 in your case IF effectively IBFX time is...
I have been using the defaults while trading by demo account and now want to really pay attention to the Fib pivots and wanted to know what time frames the pivots were being calculated from. My clock on my server is GMT for my IBFX account so I believe you are correct. Thanks for the info.
Goal #1 Make Money, Goal #2 Don't Lose Money, Goal #3 Remember Goal #1
  • #3,898
  • Edited 3:30pm Jan 31, 2009 2:46pm | Edited 3:30pm
Quoting serj1
Which pivot setting are the best. In other words the pivots that market follows or the big dogs follow?
Big Dogs are a (very important) part of the market.
Usually the settings that are used by the greater number of people will work the best, because everybody will be reacting to those levels at the same time and place.

However I would recommend to test different approaches, so you can determine by yourself which settings work more accurately on your charts.

The key is support/resistance: former levels at which the price has been rejected many times, channels and trendlines too.

Also, pivots should be considered as "zones" more than a particular and exact price (and especially because there are differences among most brokers on prices that can go as far as 10-12 pips!).

I want to point out that this is my personal opinion: I check the pivots but personally prefer the psych levels to work with short term in M1, which I consider to be small pivots in themselves.

Price goes in waves, not linearly. When PA is observed in a very small timeframe, you can see that at every smaller level there's a "decision" being made, a price is approved or rejected, bulls or bears win the small battle, then goes on to the next level or comes back to the previous, and later on "decides" to retest again until the level breaks, or the opposite party wins and rejects the "proposed" price, like on a staircase. Then the key levels (previous bigger staircases on higher timeframes) are made by the supports or resistances that held through many attempts of being crossed.

Pivots are, as fibonacci lines, the result of a calculation made upon the analysis of historical data, and in a certain way and because of it, they can become a self fulfilled prediction, because everyone is watching the same prices go on and have the same information. So indeed, the best pivots will be those that are used by the greater number of traders.
  • #3,899
  • Jan 31, 2009 2:52pm Jan 31, 2009 2:52pm
Quoting FxNobody
Read this thread and u know what I mean.
http://www.forexfactory.com/showthread.php?t=70582
If those are your current fixed spreads you should think seriously about finding another broker... If not, as I said before, brokers usually widen the spreads at news time and where extreme volatility could cause them losses.

I have already read that thread, but there is always two points of view to any story. Did you read the link I posted to you? When you see the other side, then we can discuss
  • #3,900
  • Jan 31, 2009 2:53pm Jan 31, 2009 2:53pm
Quoting TradeWell
Hi Freddyfx.

Doblece probably can elaborate more but I can give you my personal experience.

I was frustrated with missing "big moves" by not trading the London session. Being on the West Coast of the U.S., I had not wanted to trade during sleep hours. But, I thought, "gotta get the pips" and changed to some really strange hours. As luck (or rather cycles) would have it, London went somewhat "cold" and I didn't get much extra out of it. What was worse, my sleep hours caused my head to be in a fog, and my life felt surreal. I switched back...
Hi TradeWell,

I agree with you. I live on the west coast too, in a small town called Medford Oregon. I had the same issue with wanting to work the London session in order to get big moves. Trading is all I do so I figured I could work at night and be fine. Well, while the rest of the house – and most of the US was asleep, I would be working. I knew I could not keep this up. I used to be a Paramedic and was used to getting up a lot to go on emergencies.

I went back and looked at several months of charts for the E/U and found there just as many good moves during the US and Sydney/Asia as there was during the London session. In fact, in back testing, I would have made more money during these sessions. So I abandoned the late night and chose the early morning schedule. Most of the time I am done trading by mid morning and I have the rest of the day do fool around.

I get up at 4:30 am PST, at my desk at 5:00 am and plan on working until 10:00 am – 1 PM PST. This is usually sufficient to find many good moves with the THV system trading both the 1 and 5 minute charts.

So, to all of those folks who think you are missing moves by sleeping through the London session; rest (sleep) assured that there are plenty of moves during US session hours. Just review the charts for the past few weeks alone and you will see what I mean.

If you work a regular job (like 8-5) during the day, there are plenty of Asia and early Euro session trades to take as well, and you still get to sleep through the night.
Without vision, the people will perish.
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