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THV system, final edition

  • #7,281
  • Mar 3, 2009 10:03am Mar 3, 2009 10:03am
Quoting Tank007
Hi guys

I am new to this and having had a go with numerous systems over the last few weeks have settled on THV. First proper go with this today being really disciplined and pure trend trading off the 5 min an 15 min charts with entry on the 1m.

Target for the day - 100 PIPS
Achieved - 110 PIPS
Profit - £153.79
12 Profit Trades
0 Losses
Trading time - 4hrs

The way I operate is to use a fixed stoploss of 12 PIPs per trade and once it gets 5 pips into profit I never let it go back into a loss.

Pretty pleased with that overall - I did my forex...
Welcome to the THV thread, DT. Impressive plan and early track record you have there. Sounds like you have a good understanding.
Up or down, gimme a ticket
  • #7,282
  • Mar 3, 2009 10:04am Mar 3, 2009 10:04am
Quoting Tank007
Hi guys
Target for the day - 100 PIPS
Achieved - 110 PIPS
Profit - £153.79
12 Profit Trades
0 Losses
Trading time - 4hrs
DT
Bravo!! Welcome Tank007 . Nice to know this method also works good on you. Please post your chart later (profit and loss trade). It is always great to learn from others.
Manage your risk accordingly and you're half done your home work.
  • #7,283
  • Mar 3, 2009 10:04am Mar 3, 2009 10:04am
Quoting Tank007
Hi guys

I am new to this ...
Hi Tank007,
Congratulations on an excellent result ...

I would like to know if you can post here or send me PM for the information of your orders, as entry and exit, so I can examine the entries in the chart that you used successfully ... I think it helped me a lot.

Thank you and welcome to the forum.
I am Brazilian and I never give up!
  • #7,284
  • Mar 3, 2009 10:04am Mar 3, 2009 10:04am
Quoting Tank007
Achieved - 110 PIPS
Profit - £153.79
12 Profit Trades
Welcome!

It sounds like you are almost doing extreme scalping. Your pip yield is low and you have very tight SL. Don't expect all winners everyday, and with your SL management you may find many days that end up flat. That said, I can't say you are doing anything wrong, so good luck!
  • #7,285
  • Edited 11:14am Mar 3, 2009 10:11am | Edited 11:14am
Quoting TradeWell
For some reason I had trouble getting into FF for several hours. Other websites loaded but not this one. Looks like you guys could post for the most part. Go figure.. don't now:
"big brother" doesn't want us learning all this good info...
  • #7,286
  • Mar 3, 2009 10:17am Mar 3, 2009 10:17am
Thanks guys.

The one thing I learnt from today was I got out of at least half of the trades too early so tomorrow I will be looking to move the stop to BE once it gets 10 PIPS into profit and have it trail to maximise profit potential.

In terms of rules I am following them to the letter and using the TRIX overbought and oversold levels as well as trendlines. Couple of triangles formed today with breakouts.

Cant post the charts as I dont have time to mark the trades on each one. Will try to do tomorrow.
Light dawns on marble head DT
  • #7,287
  • Mar 3, 2009 10:17am Mar 3, 2009 10:17am
Quoting Tank007
The way I operate is to use a fixed stoploss of 12 PIPs per trade and once it gets 5 pips into profit I never let it go back into a loss.
Great start, congratulations

Your stop loss depends greatly on the currency pair you trade - which pair were you trading ? One or more pairs ? The guys here will be able to give really useful comments ... keep up the good work.
  • #7,288
  • Mar 3, 2009 10:22am Mar 3, 2009 10:22am
There may be some divergence in the 1hr after this drop down...

and the 4hr just hit a level of support...if it bounces there may be plenty of opportunities for some longs in the lower T/Fs
Attached Image(s) (click to enlarge)
Click to Enlarge Name: thv 3 99.gif Size: 36 KB
Click to Enlarge Name: thv 3 100.gif Size: 38 KB
Deprive a man of everything and you give him nothing to lose.
  • #7,289
  • Mar 3, 2009 10:27am Mar 3, 2009 10:27am
Quoting cashmeer
There may be some divergence in the 1hr after this drop down...

and the 4hr just hit a level of support...if it bounces there may be plenty of opportunities for some longs in the lower T/Fs
Also M5 now has divergence and M30 has potential divergence.
  • #7,290
  • Mar 3, 2009 10:27am Mar 3, 2009 10:27am
Quote:
Originally Posted by macman http://www.forexfactory.com/images/buttons/viewpost.gif
why there are no divergence arrows shown on David's chart ... then to wondering how much or little divergence the TRIX indicator actually shows?

Your thoughts most welcome


Quoting cashmeer
Hi Macman:

I am not sure about David's chart in terms of why there is not divergence indicator...Maybe that would have helped him...
Hi cashmeer,
I checked my own charts and the TRIX was showing divergence on M5, so maybe David needs to check it is properly installed. I think it is on by default on all TF above 1M but not sure.
Attached Image (click to enlarge)
Click to Enlarge Name: thv system - 03m5_.GIF Size: 44 KB
  • #7,291
  • Mar 3, 2009 10:33am Mar 3, 2009 10:33am
Quoting macman
Hi cashmeer, thanks for the very interesting critique. The TRIX on M5 includes a divergence indicator, so your post got me wondering why there are no divergence arrows shown on David's chart ... then to wondering how much or little divergence the TRIX indicator actually shows?

Your thoughts most welcome

Just realised the charts you posted are probably from your own system, but your take on the built in TRIX divergence indicator still relevant
Morning all...(at least for me)

Mac...David posted a m1 chart so the divergence arrows would not post on this chart. m5 and above are the only charts they post on unless it's one of the first or second divergences that PeterD posted.

Ca$h...looks like you've come a fair distance in a short period of time.
Ata-Boy
Listen to the whispers.... You may learn something
  • #7,292
  • Mar 3, 2009 10:33am Mar 3, 2009 10:33am
Quoting Tank007
The one thing I learnt from today was I got out of at least half of the trades too early so tomorrow I will be looking to move the stop to BE once it gets 10 PIPS into profit and have it trail to maximise profit potential.
The ATR Pips indicator can help you set SL. But it is a personal decision and I don't always use the indicator myself. I put my SL to BE once I have pips at least equal to the M1 Pips indication (ATR(20) *3).
  • #7,293
  • Mar 3, 2009 10:38am Mar 3, 2009 10:38am
OK. I have read this entire thread, it's wonderful, thanks again guys for your hard work and dedication to helping us. I have read myself into confusion dealing with the pivots, this is my understanding, please correct me if I'm wrong:

THV chart: displays Daily Fib pivots
Analysis chart: displays Daily pivots

I am eastern time US, here are my current settings:

SDX TZ Pivots Indicator
Local_HrsServerTZfromGMT: 0
Destination_HrNewTZfromGMT: 0

Market Hours Indicator:
YourBroker_GMT_Timezone: 0 my demo is with ibfx

I am not seeing any settings on the analysis chart??

are these settings correct?

one last thing, what is the little green BS(10) in the top left corner i cant seem to clear up, trying to get used to the new infopanel and Im cleaning up my chart. A cool addition would be incorporating market hours into the infopanel.

thanks

McD
  • #7,294
  • Mar 3, 2009 10:39am Mar 3, 2009 10:39am
Quoting macman
Great start, congratulations

Your stop loss depends greatly on the currency pair you trade - which pair were you trading ? One or more pairs ? The guys here will be able to give really useful comments ... keep up the good work.
Im trading the cable. Keeping to tight for the time being and want to test this to see whether I get stopped out of good trades - if I do I will move it back. If not I will let it ride. Only once today did it get anywhere near i.e. 2pips away and I was holding my breath but it was on one trade where I was a little uncertain.

Any advice and help always welcome.
Light dawns on marble head DT
  • #7,295
  • Mar 3, 2009 10:41am Mar 3, 2009 10:41am
Quoting DrMcDDC
I am not seeing any settings on the analysis chart??
Is the indicator installed there as well?
  • #7,296
  • Mar 3, 2009 10:43am Mar 3, 2009 10:43am
Be careful trading THV now. There are mixed signals and the EUR is roughly following stock market moves, which are very erratic today - for good reason.
  • #7,297
  • Mar 3, 2009 10:49am Mar 3, 2009 10:49am
Could you activate your PM please...or...PM me with a contact link.
I've a question for you. Thanks
Listen to the whispers.... You may learn something
  • #7,298
  • Mar 3, 2009 10:54am Mar 3, 2009 10:54am
There were a lot of "objects" I just cleaned up on the analysis template, thanks TW, Im glad you said something, the daily pivot indicator is now on there, i also added the ferrufx indicator, and ofcourse the RSIv2.

My pivot settings are still at 0,0 until i hear from you guys on what they should be.
  • #7,299
  • Mar 3, 2009 11:00am Mar 3, 2009 11:00am
here are the charts.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: THV.gif Size: 50 KB
Click to Enlarge Name: Analysis.gif Size: 30 KB
  • #7,300
  • Mar 3, 2009 11:03am Mar 3, 2009 11:03am
Well done......should serve as an inspiration to others; learn, practice, profit !!!

Quoting Tank007
Hi guys

I am new to this and having had a go with numerous systems over the last few weeks have settled on THV. First proper go with this today being really disciplined and pure trend trading off the 5 min an 15 min charts with entry on the 1m.

Target for the day - 100 PIPS
Achieved - 110 PIPS
Profit - £153.79
12 Profit Trades
0 Losses
Trading time - 4hrs

The way I operate is to use a fixed stoploss of 12 PIPs per trade and once it gets 5 pips into profit I never let it go back into a loss.

Pretty pleased with that overall - I did my forex...
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