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THV system, final edition

  • #11,881
  • Jul 7, 2009 8:16am Jul 7, 2009 8:16am
Quoting Jimmy Jones
Why are you shorting against the coral? And against such a strong up move?
this was a long trade
  • #11,882
  • Edited 8:33am Jul 7, 2009 8:19am | Edited 8:33am
Quoting pattinatore
sl taken! but just retryed
this is the close
Attached Image (click to enlarge)
Click to Enlarge Name: Immagine 10.png Size: 65 KB
  • #11,883
  • Jul 7, 2009 8:32am Jul 7, 2009 8:32am
Quoting pattinatore
this was a long trade
In that case I dont see a cross of the trix...
  • #11,884
  • Jul 7, 2009 9:21am Jul 7, 2009 9:21am
Quoting Jimmy Jones
In that case I dont see a cross of the trix...
it isn't necessary for trading the divergences..
  • #11,885
  • Jul 7, 2009 9:31am Jul 7, 2009 9:31am
Quoting pattinatore
it isn't necessary for trading the divergences..
You asked why it went wrong, I told you what I thought! Obviously if it was not necessary for trading divergences then that trade would have worked!

Anyway, you posted a chart, told me it was a long position you took, but on the chart the only divergence signal I see is a BEARISH divergence signal, so there you have it, your LONG position got stopped out because you went long on a BEARISH divergence signal.

I get the sneaky feeling you are just in here to cause some trouble though, am I right?
  • #11,886
  • Jul 7, 2009 10:09am Jul 7, 2009 10:09am
Quoting Jimmy Jones
You asked why it went wrong, I told you what I thought! Obviously if it was not necessary for trading divergences then that trade would have worked!

Anyway, you posted a chart, told me it was a long position you took, but on the chart the only divergence signal I see is a BEARISH divergence signal, so there you have it, your LONG position got stopped out because you went long on a BEARISH divergence signal.

I get the sneaky feeling you are just in here to cause some trouble though, am I right?
i don't care for the arrows, the arrow comes later (it came) is better an entry before the arrow if you can see the divergence
however thx for your replay
  • #11,887
  • Jul 7, 2009 11:11am Jul 7, 2009 11:11am
hello everyone...

It's been a while since I had a chance to post but wanted to make a comment about stressing in trades....

Something that I've noticed over and over again, and I am sure many of you all have noticed the same thing, is that usually a good move is preceeded by, amongst other things, a divergence indication, even the smallest of them...

Sometimes, instead of waiting for the expected sign, I get in a bit early and the entire time towards that divergence is purely unnecessary stress!

here is an example...

The 5 min chart was showing a good chance of a rejection at the 50% fib and divergence and so the expectation was a move up and retest of 1.40XXX

Attached Image (click to enlarge)
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On the 1 min, I made the silly mistake of getting in early as I have shown in the chart below....about 10 mins of stress and at one point, I even thought about exiting with a small loss....

Attached Image (click to enlarge)
Click to Enlarge Name: thv mtf 1042.jpg Size: 164 KB


The second 1 min chart is what I should have waited for...the thicker yellow t/l break and the bullish divergence in trix...no stress, easy 10 - 20 pips

Attached Image (click to enlarge)
Click to Enlarge Name: thv mtf 1043.jpg Size: 178 KB


Patience is profitable and light on the heart!
Deprive a man of everything and you give him nothing to lose.
  • #11,888
  • Jul 7, 2009 12:07pm Jul 7, 2009 12:07pm
Thanks Cobra from your directing us.

Quoting cobraforex
One of the main mistake of new traders is overtrading, you don't need to be in the market always.

Try this:

Try to find a trading session that fit's your needs for your favorite pair.

Set a daily reachable goal for you.

Find the TF that fits your caracter.

I for myself trade the E/U 1M - 5M only in the London session and aim for 40 pips/daily.

Everything else I do for entertainment with low lotsize !!!
We are here to help each other... We Learn Forex Together!
  • #11,889
  • Jul 7, 2009 12:36pm Jul 7, 2009 12:36pm

We received numerous questions after our first e-mail regarding the new NFA Compliance Rule 2-43(b). Please note that you will be able to use entry orders to place stops and limits after July 31, 2009. Entry orders provide the ability to realize profits and cut losses.
Using entry orders for stop-loss and limits after July 31, 2009:
For Buy Positions: Placing an entry order to sell below the price where you got into the position protects you from additional losses. Placing an entry order to sell above the price where you got in locks in profits.
For example, if you have a BUY EUR/USD position at 1.3900, you could place:
a stop-loss using a sell entry order (Stop Entry, SE) at 1.3800
or
a limit using a sell entry order (Limit Entry, LE) at 1.4000.
For Sell Positions: Placing an entry order to buy above the price where you got in protects you from additional losses. Placing an entry order to buy below the price where you got in locks in profits.
For example, if you have a SELL EUR/USD position at 1.3900, you could place:
a stop-loss using a buy entry order (Stop Entry, SE) at 1.4000
or
a limit using a buy entry order (Limit Entry, LE) at 1.3800.
The National Futures Association (NFA), our industry's self regulatory organization in the United States, has informed all Forex Dealer Members, which includes FXCM, that it has adopted new Compliance Rule 2-43(b) regarding forex trading. Read Compliance Rule 2-43(b)
This rule requires orders be executed First In, First Out (FIFO). FIFO requires that when multiple positions are held in the same currency pair, the position which was first opened will be the first to be closed. This will prevent stop-loss and limit orders from being placed on individual tickets (orders and positions).
FXCM has always encouraged active risk management through the use of stop-loss and limit orders. The stop and limit orders that have been available through the “Open Positions” window are two entry orders that are linked to an individual open position. If a stop or limit order is triggered, the other is canceled. The FIFO rule prevents stops and limits from being attached to an individual ticket.
FXCM is introducing a new feature called OCO (One Cancels the Other) entry orders, which will provide traders with the same functionality as they have been accustomed, except that they are not linked to any positions. Watch This Video Presentation To See How To Manage Your Risk Using OCO Entry Orders
For additional information, please visit the "NFA FIFO (First in, First Out) Rules" forum on DailyFX. We will be holding live question and answer sessions within the DailyFX forum. Visit Now
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While FXCM acknowledges the NFA's concern and obligation to protect clients, FXCM would like to extend an option to those who would like to continue using the current platform functionality. Traders can transfer their accounts to Forex Capital Markets Ltd. (FXCM UK) and continue to place stop-loss and limit orders and maintain the ability to modify and close orders from the "Open Positions" window.
If you wish to maintain your current platform functionality, you can trade through FXCM UK, which is regulated by the Financial Services Authority (FSA) in the United Kingdom.
If you wish to transfer your account to FXCM UK, please complete the one page form:
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Q: Will I be able to place stop-loss and limit orders on individual positions after I transfer to FXCM UK?
A: Yes. All FXCM UK accounts will allow clients to place stops and limits as well as close positions from the "Open Positions" window.
Q: Will hedging be enabled on my account after it is transferred to FXCM UK?
A: Yes. All FXCM UK accounts default to have hedging enabled. That is to say that buy and sell positions will no longer offset each other. Buy and sell positions can now be held on the same account. Clients who wish to have hedging disabled can elect to turn the function off via MyFXCM.
Q: Will OCO entry orders be enabled on my account after it is transferred to FXCM UK?
A: Yes. However, if the account does not have hedging enabled the OCO orders executed in the opposing direction of open positions will effectively offset those positions. Conversely, a market order to buy 100K GBP/USD will NOT be offset by an entry order to sell if the account has hedging enabled.
For additional information, please visit the "NFA FIFO (First in, First Out) Rules" forum on DailyFX. We will be holding live question and answer sessions within the DailyFX forum
  • #11,890
  • Jul 7, 2009 1:30pm Jul 7, 2009 1:30pm
Quoting cobraforex
As I said before, I don't trade hardcore in this actual trading session.

But here was a great oportunity to catch some fast pips, bounce from DP with several previous divergence signals.

Hello Cobra,

I see that your slope indicator at the bottom looks different than the slope on my V3 template...is this something new? Thx.
  • #11,891
  • Jul 7, 2009 1:43pm Jul 7, 2009 1:43pm
Anyone using FFCal news filter indicator here?

I keep getting "FFCal error - web page download was not complete!" error
  • #11,892
  • Jul 7, 2009 2:02pm Jul 7, 2009 2:02pm
Quoting cobraforex
One of the main mistake of new traders is overtrading, you don't need to be in the market always.

Try this:

Try to find a trading session that fit's your needs for your favorite pair.

Set a daily reachable goal for you.

Find the TF that fits your caracter.

I for myself trade the E/U 1M - 5M only in the London session and aim for 40 pips/daily.

Everything else I do for entertainment with low lotsize !!!
Cobra,

I really like this THV system
Over the last few days I have been taking about 40 pips or more each day.
It is great, now the next step is to slowly, slowly increase my lot size.
I am trading quite small right now (way less than 1% of my account size)
I live in Toronto, Canada (Eastern time zone) I get up quite early 9about 4:30am, so can trade some of the London session.
Any suggestions on what pair would be good to trade in the evenings 7pm, which I know is the open of the Asian session. I was thinking USDJPY, or maybe EURJPY

I do hope that as time goes on, I will be able to give back to this thread. Right now I am very grateful for what I have been learning.....**AND** to be grabing 40 pips or more a day!!!

Keith
  • #11,893
  • Jul 7, 2009 2:19pm Jul 7, 2009 2:19pm
Quoting cashmeer
Patience is profitable and light on the heart!
Thanks a lot.
  • #11,894
  • Jul 7, 2009 2:25pm Jul 7, 2009 2:25pm
It's the SSL indicator that I converted in line instead of boxes.


Quoting ragu
Hello Cobra,

I see that your slope indicator at the bottom looks different than the slope on my V3 template...is this something new? Thx.
  • #11,895
  • Jul 7, 2009 2:27pm Jul 7, 2009 2:27pm
Yep, you are on the right way but try it on demo before shooting big calibers.

Quoting pgpb
Any suggestions on what pair would be good to trade in the evenings 7pm, which I know is the open of the Asian session. I was thinking USDJPY, or maybe EURJPY

Keith
  • #11,896
  • Jul 7, 2009 2:28pm Jul 7, 2009 2:28pm
That can happen when the FF server is overloaded.

Xux posted also another solution in the EA thread.

Quoting MyaNyx
Anyone using FFCal news filter indicator here?

I keep getting "FFCal error - web page download was not complete!" error
  • #11,897
  • Jul 7, 2009 2:41pm Jul 7, 2009 2:41pm
My notes on the pictures say it all... As always comments welcome!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1- M5 THV Entry.JPG Size: 120 KB
Click to Enlarge Name: Result.JPG Size: 129 KB
  • #11,898
  • Jul 7, 2009 3:06pm Jul 7, 2009 3:06pm
I've got an email from an FF member in the early morning who had serious problems with a USDCHF long trade.

I told him to hold the trade, that was in the S1 area (entry 0838).

I think it's time now to close that trade, but it depends on him, it's not my account.

We can observe strong divergence at the moment and come close to the 00 psych level together with MR1.

I might be wrong but that's the risk, lol.

BTW: I post this only to show him the chart.
Attached Image (click to enlarge)
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  • #11,899
  • Jul 7, 2009 3:11pm Jul 7, 2009 3:11pm
Oh boy, oh boy.

My Claudia started reading babypips.com and is presently installing the THV files on her laptop.

Looks like I am going to have another forex trader under this roof.

My new friend Travis, you are in good company, brother.

I wish both of you the best of success and don't hesitate to ask questions when you get stuck.

THV works !!!!!!
Stick to its rules !!!
  • #11,900
  • Jul 7, 2009 3:15pm Jul 7, 2009 3:15pm
Quoting cobraforex
It's the SSL indicator that I converted in line instead of boxes.

Ahh..ok...thought something looked different.. Thx...I drafted up a set of rules which I incorporated into the original V3 THV rules and it seems to be working out quite well, especially on the higher time frames.. I will post them here in case it might help some. Let me know if anything can be added...everyone's input is much appreciated. Thanks again Cobra & team for all of your help & support.


Entry:



1. Look at 4H Chart - If price is above Coral only long, below Coral only short




2. Next Look for following scenario on 5M, 15M, 30M & 1H Time Frames:




A. Price crosses cloud - both Trix cross each other and have the same color – THIS MUST OCCUR AT THE BEGINNING OF THE MOVE EITHER UNDER OR ABOVE THE CLOUD - ONLY TAKE THESE TRADES ON ANY TIME FRAME.




B. Next look for same bias candle on next higher time Frame.




(Example: if long entry signal is on 5M, then 15M candle must be bullish.



If short entry signal is on 15M, then 30M must be bearish.)



Remember –



· If the 4H chart is above the Coral – you are only looking for bull crosses on the smaller time frames.




· If the 4H chart is below the Coral – you are only looking for Bear Crosses on the smaller time frames.




I have 4 Time frames up on my charts. 2 per screen as follows:



Screen1: 5M &15 Screen 2: 30M & 1H



STOP: MUST BE AT ENTRY TIME FRAME ATR. Trail stop positions once you are 30 pips in profit to below or above previous 1H candle.



EXIT: 2 ways. Either initial hard stop is hit, or you are taken out by your trailing stop. NOTE: 1HFaster Trix changes color and/or touch of a known good resistance/support level can also be reasons to exit your position.




Other reasons to take profit can be:



Touch of a trend line, resistance or support line, horizontal psych level (00 - 20 - 50 - 80)



Position Sizing: If your entry is based on 1H time frame or Higher, then you can add positions on 5 & 15M crosses in same direction of your trade.
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