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THV system, final edition

  • #9,781
  • Apr 20, 2009 6:47am Apr 20, 2009 6:47am
Quoting MissPips
Hi Rob,

For the MTF setup, I tried not to change too many of the original rules of THV. The only thingsI changed are that I made some specific rules for divergence plays, and also I don't require a trix cross or the 1m s in the direction of the trade if you have 6 green lights. My reason for this is because if you have 6 green lights you are really trading in the direction of the main trend and...
Thanks for prompt answer...I THINK the 288 MA was used on h4 or d1 charts for analysis purposes

Cheers

Rob
  • #9,782
  • Apr 20, 2009 9:32am Apr 20, 2009 9:32am
Quoting macman
Yep, sounds familiar, but actually the TF does not matter that much. If you are trading M1 your TP and SL will be smaller, the pip distance you travel will be shorter and everything will happen faster - this is harder but also the fastest way to learn - if you can be profitable on M1 any other TF is much easier.

Now to concrete idea. Why not decide to trade the M5 TF which is hard enough to begin with and then spend the weekend in the simulator watching how M5 works?

As to TP points, aim at the next pivot - but don't cheat in the simulator -...

Ok, I think finally I figured the style I want to trade. Considering my account size and my risk appetite, I decided to trade with .20 lots ($2/pip), in which .10 lot will be traded in 5M tf(this allows me to lock in the profits) and another .10 lot will be on longer TF, entries will be same for both. Also I have decided that I'll trade only 1 pair on the shorter TF, which means .10 lot on higher TF could still be running on multiple pairs. I am not recommeding this to any body, I think this suits me so I'am trying it out. Since I started this approach only today, its way too early to say anything about it. But with 1st trade of the day I have closed .10 lot with 50 pip profit closed on EJ and another .10 is still running. I'll post chart for this trade a little later.

Thanks to all who suggested ideas
  • #9,783
  • Apr 20, 2009 9:37am Apr 20, 2009 9:37am
Quoting karun
I think if we break 128.70 successfully then it will be a further downward journey all the way down to 126.50 area, lets what happens...
EJ struggling to break 127.00, may be the whole number effect, this happend at 128.00 level too... keep watching
  • #9,784
  • Apr 20, 2009 10:30am Apr 20, 2009 10:30am
Hi MissPiPS,

I received a message from CobraForex to contact you, maybe you can help.


I down loaded your THV V3 from page 1, during the weekend and started testing it today. I have one problem, both in the THV 3 HA and THV Trend indicators, when I change the Width of the the candles to 2, it stays OK, but once I change the time frame to a different one (eg 5 min to 15 min) it reverts back to 3 the default setting, can you please allow that in you program so that we can keep our own setting like the color since I use thinner candle zoom setting, same applies to THV trend indicator.

The letter size in THV Trix, how can we reduce it to smaller font size ( Bear cross, Analyze Buy & Trend down).

Please help since I keep toggling between different time frames, and everytime I have to reset the thickness.

Thanks.
  • #9,785
  • Apr 20, 2009 11:38am Apr 20, 2009 11:38am
Just wanted to say a big HELLO to everyone in the THV thread....I have been absent from trading lately, but hope to get back into the swing of things soon...

Best of luck to everyone trading this week....


Cashmeer
Deprive a man of everything and you give him nothing to lose.
  • #9,786
  • Apr 20, 2009 11:41am Apr 20, 2009 11:41am
Quoting karun
EJ struggling to break 127.00, may be the whole number effect, this happend at 128.00 level too... keep watching
Looks like 126.3x will be a strong resistance area to watch out. If it breaks 126.3x then we can look at 125.6x which looks even more strong resistance.
Keep Watching!!!
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  • #9,787
  • Apr 20, 2009 11:43am Apr 20, 2009 11:43am
Quoting cashmeer
Just wanted to say a big HELLO to everyone in the THV thread....I have been absent from trading lately, but hope to get back into the swing of things soon...

Best of luck to everyone trading this week....


Cashmeer
Good to see you back in the thread....
  • #9,788
  • Edited 12:16pm Apr 20, 2009 11:57am | Edited 12:16pm
Looks like GU trying hard to turn around , may be I'am wrong

It broke the recent TL on my 30M chart and higher TF's are getting in to green, however its too early to say though.

Edit: Looks like downturn is continuing....
Attached Image(s) (click to enlarge)
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  • #9,789
  • Apr 20, 2009 12:17pm Apr 20, 2009 12:17pm
Quoting cashmeer
Just wanted to say a big HELLO to everyone

Cashmeer


Maaan, miss also Doblece and Goferpips.
Manage your risk accordingly and you're half done your home work.
  • #9,790
  • Apr 20, 2009 12:59pm Apr 20, 2009 12:59pm
Hi Cashmeer,

Glad you're back!

Quoting cashmeer
Just wanted to say a big HELLO to everyone in the THV thread....I have been absent from trading lately, but hope to get back into the swing of things soon...

Best of luck to everyone trading this week....


Cashmeer
  • #9,791
  • Apr 20, 2009 1:13pm Apr 20, 2009 1:13pm
Hi to all,

I hope everyone had good holidays. We can start working again
  • #9,792
  • Apr 20, 2009 1:22pm Apr 20, 2009 1:22pm
Greetings all...
I have read several comments where traders look for a setup on the M5 time frame then switch to the M1 for your entry. The problem I am experiencing with this approach is once the M5 setup is in place the M1 entry has already occurred.

Inversely, not every M1 entry results in a M5 setup as to ride the position from a smaller time frame to a longer time frame. The only way I can figure this is to enter on retracements during the M5 move. Yet I find when this is done we miss most if not all of the move when trading on smaller time frames.

Since there is 5 M1 bars in any given M5 setup can someone please expand on this multi-time frame entry approach when scalping?

I have attached a picture to illustrate the problem I face.

Thank you for your time and assistance.
Attached Image (click to enlarge)
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  • #9,793
  • Apr 20, 2009 1:37pm Apr 20, 2009 1:37pm
Proverbs

A good re-entry would have been on the third bar from the M5 trigger on your M1 chart. PA retested the cloud and continued on the down move. That's where I would have entered.

Maybe someone else could comment?
  • #9,794
  • Apr 20, 2009 1:38pm Apr 20, 2009 1:38pm
Quoting proverbs
Greetings all...
I have read several comments where traders look for a setup on the M5 time frame then switch to the M1 for your entry. The problem I am experiencing with this approach is once the M5 setup is in place the M1 entry has already occurred.
I'll try to explain as much as I can, somebody else can explain it even better.

In most cases, the entry using M1 is trader's discretion.Also it depends on the volatality in the market.

When there is less volatality, you may want to enter on retest and break of cloud which would be 3 or 4 candle after your M5 entry trigger in the M1 chart. When there is more volatality, you may want to wait for the setup to occur in M1 for a better entry point.

Hope this helps.
  • #9,795
  • Apr 20, 2009 1:43pm Apr 20, 2009 1:43pm
Speaking for myself, when I said I monitor the 5-min time frame and then move to the 1-min time frame simply means that I look for possible pattern occurrence on the 5-min; to filter out the noise of the 1-min. I did look at that juncture of your chart. I was looking at 5-min for potential 'double top' or a-b-c corrective; then I immediately switch to 1-min to see if there was any divergence play or refined pattern for me to work on. I simply took the 1-min signal for the shorts. Whereas, in your case, you are looking for confirmation on the 5-min and switched to 1-min; which logically the 1-min signal would've been passed long ago already. Filtering with the 5M is very different from Confirming with the 5-min

Have a good one
Jeff


Quoting proverbs
Greetings all...
I have read several comments where traders look for a setup on the M5 time frame then switch to the M1 for your entry. The problem I am experiencing with this approach is once the M5 setup is in place the M1 entry has already occurred.

Inversely, not every M1 entry results in a M5 setup as to ride the position from a smaller time frame to a longer time frame. The only way I can figure this is to enter on retracements during the M5 move. Yet I find when this is done we miss most if not all of the move when trading on smaller time...
~*~You are only one trade away from humility~*~
  • #9,796
  • Apr 20, 2009 2:01pm Apr 20, 2009 2:01pm
Quoting proverbs
Greetings all...
I have read several comments where traders look for a setup on the M5 time frame then switch to the M1 for your entry. The problem I am experiencing with this approach is once the M5 setup is in place the M1 entry has already occurred.
Hi Proverbs. Welcome to the thread. I'm not using 1m anymore as my maximizer tf. Rather to pick 15m as an entry decision and 3m for maximizing. But the rule is just the same IMO.

If you work on 5m and 1m TF, the short/ long decision should be made by higher tf (5m). So it means you have to pay attention with 5m first and then use 1m for maximizing your trade. Talk about maximizing, it does not always mean both trix just begin to get red on 1m.

In your attachment, both vertical line (aqua and purple) seems a valid entry to me. If you like a bit risky trade and tighter SL, you may choose the aqua line as both 1m trix is begin to red and fast trix on 5m is also red (but still slower trix is not red yet). The purple line is more conservative entry since you have to wait both trix on 5m are red but it is ok and many times will filter you from a false signal.

One most important thing is you have to wait higher tf to give you a valid entry signal before go short/long. Taking a trade with just 1m tf and hoping 5m will get red just make you a jumping gun trader. You will lose in the long run. Be patient.

Just my opinion though.
Manage your risk accordingly and you're half done your home work.
  • #9,797
  • Apr 20, 2009 2:06pm Apr 20, 2009 2:06pm
Quoting karun
EJ struggling to break 127.00, may be the whole number effect, this happend at 128.00 level too... keep watching
Hi Karun. Have just made your day eh? That EJ plays very well today. Congratulations!

Took only two trade today on EU and EJ. Both are ended good.
Manage your risk accordingly and you're half done your home work.
  • #9,798
  • Apr 20, 2009 2:08pm Apr 20, 2009 2:08pm
Look for a good 1M setup on color change of the fast trix on 5M, if you wait till trading parameters are filled on 5M it might be too late like you already mentioned.

The trix forms patterns which repeat frequently, you will notice that after a certain amount of screentime.
Those will give you an idea if or not to enter a trade.

The advantage of this trading method is that you can have a very tight SL.

I’m on mobile, so can’t write very much.
  • #9,799
  • Apr 20, 2009 3:11pm Apr 20, 2009 3:11pm
Hello to all on this thread. I've read it from it's beginning until now..very impressive to watch and learn about the evolution of THV. I want to share my gratitude to all who have undoubtedly logged 100's of hours on it's development and testing. The result of your collective focus and effort is obvious and impressive. Thank you for every pip in my account now and in the future!! I'm truly appreciative.

I have a question that I believe Miss Pip usually answers, but if anyone has suggestions, please let me know.

When making a divergent entry I understand that it is not recommended if the intensity of the PA vs. the Trix divergence is muted or flattened. Does anyone have a way to quantify (or qualify for that matter) "intensity of divergence".

I think until I get a clearer definition on paper and in my head, I will be staying with primary trend trades that fit the THV MTF rules.

P.S. And yes, I realize that the I in the word MIstakes in my quote is capitalized!
Pipnosis "Mistakes are the portal of discovery." - James Joyce
  • #9,800
  • Apr 20, 2009 3:30pm Apr 20, 2009 3:30pm
Quoting personalme
Depending on what platform you use. If you use MT4 as far as I know the minimum size is 0.1 lot which is 1 lot mini contract. So if you open a trade with just 0.1 lot on MT4 you can't make a partial TP. I use MBT as my live trade, the min qty to place a trade is 1 micro lot. You even can take a partial profit with this 1 micro. That means 0.5micro lot, lol.

And now my rest position is closed with +2 pips while I'm writing this.

Ok I think I understand, do you take partial profit when you have broke even?
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