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THV system, final edition

  • #7,981
  • Mar 11, 2009 9:46am Mar 11, 2009 9:46am
Good morning everyone,

Looks like I'm the only one on this timezone, with the rest of you keeping the Asians busy. Uh oh, Doblece is BACK IN THE HOUSE. (-:

I don't get to post a lot of trades but have been getting a lot of benefit from the M5 and email alerts while I work other things around the office.

Upon receipt of the alert, I went to my trading desk and surveyed the situation. On M5, there was indeed the divergence as well as a recent slope change on Trix. I went long at 1.2774 looking only for 10-15 PIP scalp, as I'm a bit short-biased on the day, for right or wrong.

I did not wait for the Trix cross on M5. I checked M1, which was already green, and then watched as price moved past 2770 resistance. I caught the 2774 train to 2785 and bailed out.

What could I have done better? Well, I could have set my SL to break-even at +10 and caught this trade all the way to 2809, but I need the PIPs. Next time maybe.

Hope the illustration helps. There are a lot of good sharing THV traders on here. Many thanks to all - and to my friends on the THV team.

Ed
Attached Image (click to enlarge)
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Up or down, gimme a ticket
  • #7,982
  • Mar 11, 2009 9:48am Mar 11, 2009 9:48am
Quoting doblece
AlertOnTrixCross = Trix crossing Zero Line
AlertOnTrixSigCross = Fast Trix crossing Slow Trix
Thank you ma'am.
Up or down, gimme a ticket
  • #7,983
  • Mar 11, 2009 10:16am Mar 11, 2009 10:16am
For newbies, just a reminder that sweetspots and pivots are very important in small TF.

I personally find that sweetspots at 00 and 50 are enough, but many traders also respect 20 and 80 ... your choice

Good trading to all
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  • #7,984
  • Mar 11, 2009 10:25am Mar 11, 2009 10:25am
Thanks Ed, yes, that was a clear and nice positive TRIX divergence in the 1-min time frame. I agree that we need not wait for the signal in the 5-min; else, there wouldn't be any 'room to maneuver' out of the longs; in situation when we are wrong. Take care

Have a good one
Jeff

Quoting SpecialEd
Good morning everyone,

Looks like I'm the only one on this timezone, with the rest of you keeping the Asians busy....
~*~You are only one trade away from humility~*~
  • #7,985
  • Mar 11, 2009 10:33am Mar 11, 2009 10:33am
Good morning all.

With all this talk of BARF I am having trouble mustering up an appetite.

I am struggling to find a good entry on EJ this morning, even for a scalp. But it might be just me. I need to wait for PA to change I think.
  • #7,986
  • Mar 11, 2009 10:53am Mar 11, 2009 10:53am
Quoting TradeWell
Good morning all.

With all this talk of BARF I am having trouble mustering up an appetite.

I am struggling to find a good entry on EJ this morning, even for a scalp. But it might be just me. I need to wait for PA to change I think.
Mr. Tradewell,

It's always nice to see you, BUT aren't you in the wrong session?
Up or down, gimme a ticket
  • #7,987
  • Mar 11, 2009 11:07am Mar 11, 2009 11:07am
Quoting SpecialEd
Mr. Tradewell,

It's always nice to see you, BUT aren't you in the wrong session?
Well, yes I guess. But after 11AM ET the liquidity in EU dies off some and EJ makes some bigger moves. For instance, while EU was pfutzing around EJ had a 50+ pips drop. I got most of it but only with a small position. I am still trading EU but making fewer entries and going with trades on cycles as large as H1.
  • #7,988
  • Mar 11, 2009 11:09am Mar 11, 2009 11:09am
Quoting TradeWell
Well, yes I guess. But after 11AM ET the liquidity in EU dies off some and EJ makes some bigger moves. For instance, while EU was pfutzing around EJ had a 50+ pips drop. I got most of it but only with a small position. I am still trading EU but making fewer entries and going with trades on cycles as large as H1.
That's good info about EJ after 11am. Somewhere to light after EU begins to slow down. Thanks TW and happy pippin'.
Up or down, gimme a ticket
  • #7,989
  • Mar 11, 2009 11:11am Mar 11, 2009 11:11am
Quite volatile session now. I have to see my quotes up and down like drunken monkey. Switching to 1M TF because 3x ATR on 5M too big for my MM. Damn, I hate this condition. It kills rather than a bless.
Manage your risk accordingly and you're half done your home work.
  • #7,990
  • Mar 11, 2009 11:14am Mar 11, 2009 11:14am
Quoting personalme
Quite volatile session now. I have to see my quotes up and down like drunken monkey. Switching to 1M TF because 3x ATR on 5M too big for my MM. Damn, I hate this condition. It kills rather than a bless.
Was there any news came out? For such a volatility
  • #7,991
  • Mar 11, 2009 11:18am Mar 11, 2009 11:18am
Quoting personalme
Switching to 1M TF because 3x ATR on 5M too big for my MM.
You could trade with a smaller position size. I trade 1/4 of my normal size when trading based on 1 hour, which lets me place a SL 4 times larger.
  • #7,992
  • Mar 11, 2009 11:26am Mar 11, 2009 11:26am
Quoting personalme
Quite volatile session now. I have to see my quotes up and down like drunken monkey. Switching to 1M TF because 3x ATR on 5M too big for my MM. Damn, I hate this condition. It kills rather than a bless.

There's actually money to be made in these conditions if you pay very close attention to M1 and M5, and use them in conjunction. M1 will give you early signal; M5 will confirm. Kind of backwards, and you'll miss some of the early PIPs, but at a quick range of 40 PIPs, there's plenty to be gotten. Just don't overtrade it.
Up or down, gimme a ticket
  • #7,993
  • Mar 11, 2009 11:34am Mar 11, 2009 11:34am
Quoting karun
Was there any news came out? For such a volatility
Hi Karun. Don't know yet. I check on bloomberg and my RTT Desk Alert, there's nothing news be related with current volatilty. There's Geithner going to speak, but it is on 12pm EST and the topic not related to fx.

Quoting TradeWell
You could trade with a smaller position size. I trade 1/4 of my normal size when trading based on 1 hour, which lets me place a SL 4 times larger.
Hi TW. That's what I'm doing now. My bad is I do that after my profits during Asian session are wane . Ah well nevermind. I learn a lot from yesterday choppy market and I learn also from today high volatility. I believe a good trader must be proven on many trading circumstances. Yes, I heard quotes "not trading is also a trading" but I simply cannot stop learn
Manage your risk accordingly and you're half done your home work.
  • #7,994
  • Mar 11, 2009 11:43am Mar 11, 2009 11:43am
Its strange that without any news it jumped up and down so much in a few minutes
  • #7,995
  • Mar 11, 2009 11:56am Mar 11, 2009 11:56am
Hey guys...would any of you mind to explaine me a bit how to use the ATR???
I mean if in 1M TF if shows 12 pips min Stop loss....that means for any trad i do...sell or buy ?? What is exact meaning of that ATR??
  • #7,996
  • Mar 11, 2009 12:14pm Mar 11, 2009 12:14pm
Quoting leņador
Hey guys...would any of you mind to explaine me a bit how to use the ATR???
I mean if in 1M TF if shows 12 pips min Stop loss....that means for any trad i do...sell or buy ?? What is exact meaning of that ATR??
It is not buy or sell entry. It is for SL indicator. If you trade on 1M TF and your ATR on info panel show 12 pips, you are recommended to put your SL 12 pips away from your entry.

ATR = Average True Range. Just google it, you'll find a lot.
Manage your risk accordingly and you're half done your home work.
  • #7,997
  • Mar 11, 2009 12:17pm Mar 11, 2009 12:17pm
Thanks mate...i´l do my home work and learn about that indictor..
Godness volatility is huge today....
  • #7,998
  • Mar 11, 2009 12:37pm Mar 11, 2009 12:37pm
Quoting personalme
It is for SL indicator. If you trade on 1M TF and your ATR on info panel show 12 pips, you are recommended to put your SL 12 pips away from your entry.
leņador

This is the MINIMUM number of pips for your SL. If you see a lot of price action this is can be too tight, so you may have to use the ATR shown * 1,5 or maybe even * 1,75. Look back at earlier price action on the chart you are working on to decide.

Best of luck
  • #7,999
  • Mar 11, 2009 12:40pm Mar 11, 2009 12:40pm
Quoting leņador
Thanks mate...i´l do my home work and learn about that indictor..
Godness volatility is huge today....
Yes I am not seeing much I can do with this PA myself. Made a couple moves but waiting for change.
  • #8,000
  • Mar 11, 2009 12:41pm Mar 11, 2009 12:41pm
Coral getting red in 5M
Time to think "short"??
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