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THV system, final edition

  • #7,621
  • Mar 6, 2009 10:19am Mar 6, 2009 10:19am
Quoting bhcgn
today,my trade,only use THV,i don't know when must i close the trade
This is a personal decision. You have to figure out what you are comfortable with.

I typically take 1/4 to 1/2 at M1 ATR*3, then another 1/4 at M5 ATR*3. Then I take the rest depending on higher TF trend or S&R levels, or other criteria. I prefer scaling out because it assures profit and you can leave a small amount in for those really big runs, with no risk (assuming stops at BE).
  • #7,622
  • Mar 6, 2009 10:26am Mar 6, 2009 10:26am
Quoting TradeWell
One way around this is I get into a good position, using the H1 trend change and smaller TF's for entry. Then I close 1/2 to 3/4 at good TP, which typically happens in a relatively short amount of time (15 minutes to 1 hour). Then, with SL at BE I am free to leave my computer (with preset alarms that ring my cell phone if needed). I can take more profit later, depending on S&R levels, H1 exit alarm or a black cat crosses my screen.

The H1 TF lets you enter with a higher degree of assurance that the previous trend will not resume soon.
Can you post an example of 1H chart, where you identify the trend change.
In the below chart, will you enter a position now or will wait for the trix cross to happen(which may take another 1-2 more bars to close) before entering the position?

Karun
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  • #7,623
  • Mar 6, 2009 10:27am Mar 6, 2009 10:27am
Quoting TradeWell
This is a personal decision. You have to figure out what you are comfortable with.

I typically take 1/4 to 1/2 at M1 ATR*3, then another 1/4 at M5 ATR*3. Then I take the rest depending on higher TF trend or S&R levels, or other criteria. I prefer scaling out because it assures profit and you can leave a small amount in for those really big runs, with no risk (assuming stops at BE).
hi TradeWell,Thanks for your quick giving me directions, really appreciate it.
  • #7,624
  • Mar 6, 2009 10:27am Mar 6, 2009 10:27am
GU is falling like rock. I have no idea when it will stop . Out from my short now since downward move is limited I think.
Manage your risk accordingly and you're half done your home work.
  • #7,625
  • Edited 11:26am Mar 6, 2009 10:39am | Edited 11:26am
Couple of trades throughout the day. Late last night, a Butterfly was formed in the 15-min time frame; along with that, a further confirmation was provided by a Gartley in the 5-min time frame. The little Gartley in the 15-min time frame can be detected clearly in the 5-min time frame.

Longed @ 122.85. Stop at 122.70
Partial Profit taken @ 123.60

Early Asian Session: With the bullish Butterfly and Gartley in mind, I was making attempt to establish the remaining long positions to ride the trend. Although, the AB = 1.382CD did resolve herself nicely to the upside; but the Bullish "Shakeouts" pattern turned out to be a failure; hitting my trailing profit stops at 123.28. I was flat with no more trading positions at hand.

For the rest of the first half of London Session, Eur/Jpy has been under selling pressure but has resolved herself into a bullish Gartley just before the release of Non-Farm Payroll. I was comtemplating whether I should commit myself before the release of economic figure and decided to go for a buy limit anyway.

Longed @ 122.86. Stop @ 122.40
Partial Profit taken @ 124.15

As I anticipated the downward sloping pitchfork of the 30-min time frame might contain the current up move at -124.82+. An OCO was in place at the juncture 124.45; an area where wave structures would be overlapping one another; and that, should also be a major clue of the end of the current impulsive up move.

Price actions have taken out all my remaining long positions at 124.45.

Have a good one
Jeff
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~*~You are only one trade away from humility~*~
  • #7,626
  • Mar 6, 2009 10:42am Mar 6, 2009 10:42am
Hi,
The THV Gann posted by cobraforex on the thread some time ago is a very good tailing stoploss indicator. It gives an early exit and the periods can be adjusted from the standard 4 to any value to absorb the TF and volatility. I have personally been using it on 15 min TF and it gels with the fast trix. I had it in my set of indicators for a long time but had not fiddled with the values, very handy indicator indeed. Entry and exit also improved vastly.

Just look at the chart attached dotted line is thv gann
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Nobody ever went broke taking profits.
  • #7,627
  • Mar 6, 2009 10:51am Mar 6, 2009 10:51am
Quoting TradeWell
One way around this is I get into a good position, using the H1 trend change and smaller TF's for entry. Then I close 1/2 to 3/4 at good TP, which typically happens in a relatively short amount of time (15 minutes to 1 hour). Then, with SL at BE I am free to leave my computer (with preset alarms that ring my cell phone if needed). I can take more profit later, depending on S&R levels, H1 exit alarm or a black cat crosses my screen.

The H1 TF lets you enter with a higher degree of assurance that the previous trend will not resume soon.
Let me understand how you trade H1 trend change

Entry Rule:

1) On H1 TF, look for next Trix cross as indication of trend change, PA above Cloud, Coral rules met.

2) Go to 5min TF to look for best entry setup - look for next trix cross in the direction of h1 trend, PA above cloud, coral confirms it is ok. Divergence, trendlines, Psyche levels etc also additionally confirms the setup

3) Go to 1min TF for actual entry - look for next trix cross or trix crossing the 0-line, and than pull the trigger

Exit rules:

1) Look for trend reversal in H1 TF??, s/r and Pivot levels etc.

Kindly correct me where my understanding is lacking. If you can post actual sequence of actions along with screens showing a trade setup, that would be a great.
  • #7,628
  • Mar 6, 2009 10:55am Mar 6, 2009 10:55am
Quoting aries2103
Hi,
The THV Gann posted by cobraforex on the thread some time ago is a very good tailing stoploss indicator. It gives an early exit and the periods can be adjusted from the standard 4 to any value to absorb the TF and volatility. I have personally been using it on 15 min TF and it gels with the fast trix. I had it in my set of indicators for a long time but had not fiddled with the values, very handy indicator indeed. Entry and exit also improved vastly.

Just look at the chart attached dotted line is thv gann
there is no arrow in my chart,where can i find it?thanks
  • #7,629
  • Edited 11:12am Mar 6, 2009 10:58am | Edited 11:12am
My current THV M1 trade.....

Edit: Closed trade for 19 pips.
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  • #7,630
  • Mar 6, 2009 11:11am Mar 6, 2009 11:11am
Quoting TradeWell
One way around this is I get into a good position, using the H1 trend change and smaller TF's for entry. Then I close 1/2 to 3/4 at good TP, which typically happens in a relatively short amount of time (15 minutes to 1 hour). Then, with SL at BE I am free to leave my computer (with preset alarms that ring my cell phone if needed). I can take more profit later, depending on S&R levels, H1 exit alarm or a black cat crosses my screen.

The H1 TF lets you enter with a higher degree of assurance that the previous trend will not resume soon.
On H1 TF, there are very few trix-crosses in a day, at the most one or two. And it is very easy to miss them. Audio alarm can help. But still, if one misses that too, there can be no more trade setps for the day. How to get around that? Trade multiple currencies so one can catch al least some of the Trix-crosses on H1l? Do you still take entry after you have missed the exact point of trix cross on H1 if the the trend is still continuing on h1? That is entry need not be at exact point of trix cross, but as long as trend has not reversed yet on h1, it is ok to look for trade setups for entry. Appreciate your input.
  • #7,631
  • Mar 6, 2009 11:17am Mar 6, 2009 11:17am
Quoting karun
Can you post an example of 1H chart, where you identify the trend change.
In the below chart, will you enter a position now or will wait for the trix cross to happen(which may take another 1-2 more bars to close) before entering the position?

Karun
Just take a look at your chart. At every point where the H1 trend showed change (signaled by Cobra as Analyze Exit) there were actual corresponding trend changes, although to different degrees. I had entered a short at 1.2720 when this happened last (using other TF's for best entry) and already took most profit, though the small amount I left just got stopped out (should have left stop at entry). You can still enter after trix cross but on the longer TF I think that happens a little late. In any case, if you use the H1 you need a much larger stop loss, which could really hurt for the occasional false signal. Accordingly, I use smaller position sizes for this kind of trade.

BTW, looks like a H&S forming on the M15 & M30.
  • #7,632
  • Edited 11:39am Mar 6, 2009 11:24am | Edited 11:39am
Stalking EJ break on M1.......

Edit: Trade closed with 16 pips.
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  • #7,633
  • Mar 6, 2009 11:30am Mar 6, 2009 11:30am
Quoting kerty9
Let me understand how you trade H1 trend change

....PA above Cloud...

Exit rules:

1) Look for trend reversal in H1 TF??, s/r and Pivot levels etc.
I need to clarify for you.
1. I don't wait for trix cross on the H1. I start looking for a trade once the fast trix has indicated exit of the previous trend. I want to reiterate that this is outside of normal THV rules so it is definitely more risky and total pip loss could be very high if it goes against you. Adjust your MM accordingly.
2. For smaller TF's always wait for PA to go on the side of the cloud that agrees with the direction of your trade.
3. Exits are really not a firm rule and I like to scale out so I will take profit as my positive pips increase.
4. Keep in mind that this is a H1 trade so you may hold all or part of your position a day or more.

Patience is crucial to trading based on the H1.
  • #7,634
  • Mar 6, 2009 11:41am Mar 6, 2009 11:41am
Quoting kerty9
On H1 TF, there are very few trix-crosses in a day.....

Do you still take entry after you have missed the exact point of trix cross on H1 if the the trend is still continuing on h1?
You can certainly take trades on THV anytime solely based on the M5 and M1 even if they are countertrend. Many traders here do just that. As you zoom out to other TF's that agree with the direction you are trading, it is considered lower risk. I am trying to accomplish two things:
1. Get as early of an entry as possible for a larger move.
2. Be somewhat assured that there is a solid trend change.

You are right, there are 1-2 H1 trend changes per day. I use MT4 email alerts to my cell phone so if I am asleep or doing something else I can come to my computer to look for an entry. It is not the only method I trade by so if I miss it, no big deal.
  • #7,635
  • Mar 6, 2009 11:44am Mar 6, 2009 11:44am
stalking EU M1 break....
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  • #7,636
  • Mar 6, 2009 11:57am Mar 6, 2009 11:57am
Quoting bhcgn
there is no arrow in my chart,where can i find it?thanks
Hi bhcgn,
Those arrows are called fractals which are points of significant support and resistance. That can be found in Metatrader Bill williams set of indicators, its a standard indicator in MT.

Insert > indicator > billwilliams > fractals
Nobody ever went broke taking profits.
  • #7,637
  • Mar 6, 2009 11:59am Mar 6, 2009 11:59am
Cobra,

I have to very respectfully disagree with you about the need to park one's hinder in front of the screen or to miss all those lovely trades that are occuring with the other pairs than the one you have in front of you.

Trading is work on that we do agree but I am suggesting that we work smart not hard. That applies whether we trade 1M or even tick charts or any time frame.

Good trade setups do not occur every minute of the day and overtrading is a good way to blow one's account. Futhermore setting up a screen 1 type popup allows one to pre-specify setups and even better allows one via the computer to monitor more than one time frame for a set-up and more than one pair. So the end result is a vastly expanded trading horizon.

Both Tradestation and Ninjatrader among many other trading software have incorporated screen 2 in order to facilitate traders. Screen 1 is trading template specific. I have seen it used in professional software with dramatic results for the trader. Do you really believe that those umpteen professional traders stay glued to their screens hour after hour day after day ?

I am not advocating an EA as I do not have complete faith in that yet. What I am describing is more akin to an auto pilot where the pilot takes control at crutial points. Professional wood workers do not use hand saws it's more a table saws, chop saws circular saws world.

I do hope that better explains my thoughts just a little. Keep up the good work and may you make many pips.


Quoting cobrafor ex
I was reading your post 3 times but don't get what you want to ask/mention.

This system is created to work mainly in small TF's like 1,5,15M but some use it on higher Tf's.

Working on smaller TF's you need to be in front of your computer.

Trading is a profession and a trading session is the work time, if you want to do something else during a trading session if you work the 1M and 5M as I do, you better not start.

may be you can express yourself a bit more clear or I'm the only one that have problems to answer that post?
  • #7,638
  • Mar 6, 2009 12:00pm Mar 6, 2009 12:00pm
Quoting traderathome
stalking EU M1 break....
My current THV M1 trade.
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  • #7,639
  • Mar 6, 2009 12:02pm Mar 6, 2009 12:02pm
Entry ((26921)) based on the 1m THV, my own 2m system, and overall PA considering among other things the M4 (on my charts) tap from the bottom.

Never take the first tap tho... It'll try twice more often than not when struggling to regain lost ground. This was true on this trade as well.

(I haven't gotten the hang of the THV fibs yet... sorry ) still learning.
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FUBAR...
  • #7,640
  • Mar 6, 2009 12:08pm Mar 6, 2009 12:08pm
Quoting traderathome
My current THV M1 trade.
Consider this... neckline up a little highr a'rd 2660ish...

Something to keep an eye on...
Attached Image
FUBAR...
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