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THV system, final edition

  • #10,961
  • May 26, 2009 7:30am May 26, 2009 7:30am
Quoting Cencored
Another question that I had is:
the ATR (20) can show a stop loss of 30 pips and more, with only a 10 pip profit target on the 5min, that is a pretty bad R/R or am I getting something wrong?

I scale out, I have 3 positions 15-25-35 with a stop of 25. Now I do adjust this stop if it is a tigher market. I still have not found a great way to scale out with a 2:1 RR with this, I could do +50 for target but I will miss it, 35 even seems pushing it sometimes.
Keep taking CT trades, I need more money
  • #10,962
  • May 26, 2009 8:55am May 26, 2009 8:55am
Thank you Ryan.
I am usually looking for more pips and took a serious look at the 15m chart. It seems like it is able to capture bigger moves and cutting down false signals too (in ranging markets particularly). Backtesting seemed to confirm that (using the MTF method and looking at M30 and H1 as well).
It seems to work nicely on AUDUSD and EURJPY. Can anybody confirm my findings? I do not like to trade on small TF's so I would really like to apply this method on a larger TF, ie. 15m.
Although admittedly there are a lot less trades per day this way?!
Thanks for responses in advance...
Trading Makes Money!
  • #10,963
  • Edited 9:48am May 26, 2009 9:27am | Edited 9:48am
Nice pips on this move...
Last 25% locked just below the recent M1 lows.
With the down move leading into this and the push up my book is full up.
When the last 25% is taken off I'm gonna do something else for a bit and cool off.

Edit:
25%off +16.5
50%off +64.0
75%off +86.9
100%out +70.3
Attached Image (click to enlarge)
Click to Enlarge Name: EJ-05-26-09-am.gif Size: 45 KB
Listen to the whispers.... You may learn something
  • #10,964
  • May 26, 2009 9:58am May 26, 2009 9:58am
On the joint picture you can see my last two great trades on EUR USD in TF 15.

I don't have take the last buy signal because I prefere to entry with a cross or a divergence.

So now i'am waiting a sell singal.
Attached Image (click to enlarge)
Click to Enlarge Name: eu-2605.jpg Size: 103 KB
  • #10,965
  • May 26, 2009 10:03am May 26, 2009 10:03am
Quoting Cencored
I do not like to trade on small TF's so I would really like to apply this method on a larger TF, ie. 15m.
I have switched to trading longer TF's and can tell you that the same THV principles apply. I have only recently switched, so I am still working out my rules for the H1.

You might get lucky if BeachBum comes around. He is very agile with the longer TF's on THV and he may provide a comment or two for you. In the meantime, I suggest you read his posts on this thread where you can already glean loads of information.
  • #10,966
  • May 26, 2009 11:17am May 26, 2009 11:17am
Cobra,

THV is about as close to the "holy grail", as anyone going to get. Why don't new people coming to this site, realize this, and quit searching for this holy grail. This is it, or as close as they will ever get.
  • #10,967
  • May 26, 2009 11:57am May 26, 2009 11:57am
The 10 pip target was my idea for trading with the 6 point system on the 1m tf. It goes with a 15 pip stoploss (or ATR suggested s/l whichever is higher, but on the 1m the ATR suggested s/l is rarely more than 15 except during news, which the 6 point method was not tested for). If you trade higher tfs you may need to adjust the target and stoploss accordingly.

Quoting Cencored
Another question that I had is:
the ATR (20) can show a stop loss of 30 pips and more, with only a 10 pip profit target on the 5min, that is a pretty bad R/R or am I getting something wrong?
  • #10,968
  • May 26, 2009 12:46pm May 26, 2009 12:46pm
Adunk, there is no holy Grail (you know that) but THV is a good tool to keep your losers small and let the winners run if you made your homework and know the basics and a little more.

Never forget to look at the bigger picture with the Analysis Candlestick Chart on higher TF's.



Quoting adunk1
Cobra,

THV is about as close to the "holy grail", as anyone going to get. Why don't new people coming to this site, realize this, and quit searching for this holy grail. This is it, or as close as they will ever get.
  • #10,969
  • May 26, 2009 12:57pm May 26, 2009 12:57pm
Hello all. I'm a newbie here and hope you don't mind. I tried, but there is just no way that I can read all 2700 posts on this tread. After spending a few days trying, I thought I would just ask and beg for your forgiveness at the same time.

Lots of changes to this system over time. Here is what I THINK I understand.

The Hull became the Cobra line?
The Trix was an RSI, but now just the Trix indicator?
PA = Price Action. This is not a line, but simply where the candle is, correct?

So to trade the M5, (looking at M1 & M15 for confirmation):

FOR ENTRY:

PA (candle) must be Above Coral Line to go long, below Coral Line to go short

DOES THE COLOR of the CORAL Matter?
AND
Price crosses cloud
Is that COMPLETELY, closing outside of it on the other side? Or simply penetrating it and closing inside it?

AND
Both Trix lines cross each other and have the same color.

Do the colors have to match the Coral color and/or green for long/red for short?

Best and most secure trend confirmation is a cross of the fast Trix on the zero level.

Exit:Faster Trix changes color and/or touch of a known good resistance/support level.

Other reasons to take profit can be: Touch of a trend line, resistance or support line, horizontal psych level (00 - 20 - 50 - -80) or a black cat that cross your screen

I assume PA (candle) touching, yes?

Also:
Lots of discussions about server times for the broker. Did this ever get resolved?

I'm running several demo accounts with different brokers, none of which I can find you guys discussed.

How do I find out what time zone my Broker's server is in, and then what are the settings for that broker?

I use FXCM; Forex Ttrading (forexmeta.com); PFGBest.com

I'm sure I will have more. Again, thanks for your help.

The Flying Dutchman
The Flying Dutchman
  • #10,970
  • May 26, 2009 1:11pm May 26, 2009 1:11pm
We don't mind.



The Hull became the Cobra line? Yes, was replaced with the coral (not cobra)
The Trix was an RSI, but now just the Trix indicator? No, we only took the RSI off the Trix
PA = Price Action. This is not a line, but simply where the candle is, correct? can be candles, priceline, bars and patterns

So to trade the M5, (looking at M1 & M15 for confirmation):

FOR ENTRY:

PA (candle) must be Above Coral Line to go long, below Coral Line to go short

DOES THE COLOR of the CORAL Matter? No
AND
Price crosses cloud
Is that COMPLETELY, closing outside of it on the other side? Or simply penetrating it and closing inside it? Let your feeling play or use close outside

AND
Both Trix lines cross each other and have the same color.

Do the colors have to match the Coral color and/or green for long/red for short? No

Best and most secure trend confirmation is a cross of the fast Trix on the zero level.

Exit: Faster Trix changes color and/or touch of a known good resistance/support level.

Other reasons to take profit can be: Touch of a trend line, resistance or support line, horizontal psych level (00 - 20 - 50 - -80) or a black cat that cross your screen

I assume PA (candle) touching, yes? Yes or use the black cat

For broker times please use the search thread options



Quoting flyingnutjob
Hello all. I'm a newbie here and hope you don't mind.
  • #10,971
  • May 26, 2009 1:51pm May 26, 2009 1:51pm
Quoting flyingnutjob
Hello all. I'm a newbie here and hope you don't mind.
Hi flyingnutjob. Welcome abroad .

Here're some points to add:

Quote
I tried, but there is just no way that I can read all 2700 posts on this tread. After spending a few days trying, I thought I would just ask and beg for your forgiveness at the same time.
Actually I do. It takes week and sometimes months to me. But it is worth enough. Since weeks ago I have a homework to read Technical Analysis Fallacy by Fti. It is 455 pages. About this thread, you can read from the release of v3.

About the Coral, since we use version 3, it was not used anymore I guess . But some traders add it to trade conservatively. It is well refined rather than using Moving Averages I think.

About Time Zone: You may want to read Doblece's post many months ago. Just search them (aroung @ page 200). Other ways, you can turn your chart time frame into 1minutes and see what is the time for the latest candle on your platform. With this way you can know time differences from server to your timezone. Also about a week ago, Adunk post his simple timezone converter indi. Quite useful to me.

Last, here's my gift to you:
Attached Image
Manage your risk accordingly and you're half done your home work.
  • #10,972
  • May 26, 2009 7:43pm May 26, 2009 7:43pm
Quoting personalme
Hi flyingnutjob. Welcome abroad .

Here're some points to add:

Actually I do. It takes week and sometimes months to me. But it is worth enough. Since weeks ago I have a homework to read Technical Analysis Fallacy by Fti. It is 455 pages. About this thread, you can read from the release of v3.

About the Coral, since we use version 3, it was not used anymore I guess . But some traders add it to trade conservatively. It is well refined rather than using Moving Averages I think.

About Time Zone: You may want to read Doblece's post many...
Also about a week ago, Adunk post his simple timezone converter indi.

I went back over a week looking for "Adunk" and could not find. Could you post the post #, or post the indy file?
  • #10,973
  • May 26, 2009 7:50pm May 26, 2009 7:50pm
Go to attachments and its on page 5. Second one from the top its called time.

Edit. Hope thats the one you are talking about/

Quoting traderathome
Also about a week ago, Adunk post his simple timezone converter indi.

I went back over a week looking for "Adunk" and could not find. Could you post the post #, or post the indy file?
Yea it's Life//
  • #10,974
  • May 26, 2009 8:01pm May 26, 2009 8:01pm
Quoting TradeWell
I have switched to trading longer TF's and can tell you that the same THV principles apply. I have only recently switched, so I am still working out my rules for the H1.

You might get lucky if BeachBum comes around. He is very agile with the longer TF's on THV and he may provide a comment or two for you. In the meantime, I suggest you read his posts on this thread where you can already glean loads of information.
Thank you for your reply.
I have read BB's post in regards to that topic however he uses it purely for M15.
I much prefer Ed's method for M30 and trade M30 myself now.
However unlike Ed who seems to use the small TF's on his histo, I changed it to the histo lights of the TF's larger than M30, namely H1f,H1s,H4f,H4s,D1s,D1f.
I may be wrong, but I do not see the sense in looking at shorter TF when you trade a larger TF.
I dropped Ed an email about it, maybe if you read this Ed, I would like to hear your opinion on this.
Thanks a lot.
Trading Makes Money!
  • #10,975
  • May 26, 2009 8:11pm May 26, 2009 8:11pm
Quoting Cencored
Thank you for your reply.
I have read BB's post in regards to that topic however he uses it purely for M15.
I much prefer Ed's method for M30 and trade M30 myself now.
However unlike Ed who seems to use the small TF's on his histo, I changed it to the histo lights of the TF's larger than M30, namely H1f,H1s,H4f,H4s,D1s,D1f.
I may be wrong, but I do not see the sense in looking at shorter TF when you trade a larger TF.
I dropped Ed an email about it, maybe if you read this Ed, I would like to hear your opinion on this.
Thanks a lot.
Hi Cencored. I do not recall receiving an e-mail from you. Sorry if I missed it. You're right, I do use the smaller TF histo lights in my top indicator. Specifically, I use M1F, M5F, M5S, and M15S. On the lower window, I use M15F, M30F, M30S, and H1F. I use M30 and H1 in the cloud window.

I have other non-THV charts that I use to view D1 and H4 on. I may be wrong but I've figured that I didn't want to wait around for H4 and/or D1 because I could not afford the bigger stop losses that they might require. Lately, even in M30, following my published rules, I've usually had to use a minimum of 40 SL and even as much as 50. I suspect I am doing something wrong, like maybe I should wait until price moves 5-10 pips above the "signal" candle, such as what BB or someone said earlier. Going to check that out soon.

I will probably look at your use of the histo lights, but frankly, I like knowing what M1 and M5 are doing. They tell me it's OK to enter at this precise minute, as soon as they change or close changed. It's kind of what Cobra recommended originally. He was trading the M5, I think, entering when M5 lights were "right", but only when M1 told him "GO".

Hope that helped.
Ed
Up or down, gimme a ticket
  • #10,976
  • May 26, 2009 8:33pm May 26, 2009 8:33pm
Thanks for all the speedy replies, especially from Cobra himself. I think I figured out that PFGBest.com MT4 is setup correctly for time frames, as todays THV Pivots start at oo:oo GMT on the chart, so it looks right.

to Personalme: "About the Coral, since we use version 3, it was not used anymore I guess" I AM using the Coral, since it is still in the instructions on how to use THV V3. I want to learn it as it was presented before I modify it. so until I hear otherwise, I'm going to follow the rules and see how it plays out in my demo.

I did add another screen with the MTF indicators, and am comparing the two THV V3 & THV w/ MTF to see how they compare as well.

If nothing else, I hope to learn something about trading rules and patience.

Being late to the game here, it's difficult to understand what you guys are talking about sometimes. Like with the MTF system, Miss Pips talks about trading with 6 lights. I assume, but not for sure, that is 6 out of possible 10, since I have 3 indicator windows, 2 with 4 lights each, and 1 with 2.

I also assume that 6 green lights means trade long, and 6 red means go short, since those indicators appear to been trend indicators, although I haven't weeded thru all 10,000 messages in this thread yet to find out.

Again, thanks for the nice welcome. I will now go back to lurking and demo trading, and TRYING to be patient. But I want to know it all NOW. waaaa

Flying Dutchman
The Flying Dutchman
  • #10,977
  • May 26, 2009 9:07pm May 26, 2009 9:07pm
Quoting SpecialEd
... Lately, even in M30, following my published rules, I've usually had to use a minimum of 40 SL and even as much as 50....
Hey Ed, on the H1 sometimes I use a SL of 100 or more.

That said, I have not hit my SL yet by current rules, so you can see I have some adjusting to do.
  • #10,978
  • May 26, 2009 9:30pm May 26, 2009 9:30pm
TW........thanks for the kind words.

My strategy is the same as previously posted in this thread; H1 and M15 work well together. And following the H4 trend is even better.

Quoting TradeWell
I have switched to trading longer TF's and can tell you that the same THV principles apply. I have only recently switched, so I am still working out my rules for the H1.

You might get lucky if BeachBum comes around. He is very agile with the longer TF's on THV and he may provide a comment or two for you. In the meantime, I suggest you read his posts on this thread where you can already glean loads of information.
  • #10,979
  • May 26, 2009 9:31pm May 26, 2009 9:31pm
Quoting SpecialEd
Hi Cencored....

Thanks a lot Ed, that was helpful yes.
I was just wondering: If you trade a larger timeframe, and thus do not really care about smaller price fluctuations on the smaller TFs, why bother looking at them? I for myself always trade in the direction of the larger TF's and thus to me it is more important to look at H1f,s and H4f,s and then enter on the 30m when f and s are both green/red and H1f,s plus H4f are green/red for long/short.
I do not worry too much about H4s being the opposite color.
I only trade in the direction of the two EMA's (so I guess my system is a bit of a mixture of yours and BB's system). I do not trade "no-mans-land" (BB's term)
Keep in mind everyone: This is still a test and I do not claim my way to be profitable.
One discovery that I made is that the H1 seems to be very profitable, however signals do not occur as often (~2 per week per currency pair).

Would like to know what you think about my approach, Ed.
Thank you
Trading Makes Money!
  • #10,980
  • May 26, 2009 9:43pm May 26, 2009 9:43pm
When trading the M15 or even M30, looking at smaller TF's is IMO a way of fine-tuning the entry point. But in reality we want to trade the signals given by the primary TF; that is the TF we are looking at for the entry signal. We look "up" a TF or two because we want to ride a wave (or trend cycle) that agrees with the TF we are primarily trading. In essence we are trading "pullbacks" or "retracements" that can be seen in the higher TF. Alternately, we enter a trade at the beginning of a trend change that has started on a lower TF and will be seen on a higher TF in the future. Either approach has it's own merits and successes (and occasional losses).
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