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THV system, final edition

  • #11,901
  • Edited 3:31pm Jul 7, 2009 3:19pm | Edited 3:31pm
.CLAUDIA?.

You are in big sh$t man.

I say that because you will have a great competition and aware that she makes friend with Doblece and MissPips, lol

Quoting Freddyfx
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 !!!
  • #11,902
  • Jul 7, 2009 4:09pm Jul 7, 2009 4:09pm
Quoting Freddyfx
...
THV works !!!!!!
Stick to its rules !!!
Freddy, you don't post much, but what you said is quality!

Remember everyone, TRUST YOUR RULES!
  • #11,903
  • Jul 7, 2009 5:32pm Jul 7, 2009 5:32pm
Thanks for the support Freddy. It means a lot!

I wish Claudia the best in her journey as well

Quoting Freddyfx
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 !!!
  • #11,904
  • Jul 7, 2009 9:04pm Jul 7, 2009 9:04pm
I got a nice trade after some pulling up.
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  • #11,905
  • Jul 7, 2009 9:57pm Jul 7, 2009 9:57pm
Quoting DarkDays
My notes on the pictures say it all... As always comments welcome!
You seem to have a handle on trading with THV, just stick to your plan!
  • #11,906
  • Jul 7, 2009 10:53pm Jul 7, 2009 10:53pm
Quoting ragu
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.
Thank you Ragu. I enjoy reading the process you use to analyze your trades. It's always easy to tell someone to just "trade by the rules", but it's more than just the rules...it's the "process" in implementing the rules that makes the difference. I learn more about how to be successful when I see the flow that other traders are using when they follow a trading method. I'd like more discussion on how others who successfully trade this system actually set things up and the process they use to pull the trigger.
  • #11,907
  • Jul 7, 2009 11:13pm Jul 7, 2009 11:13pm
Quoting markfx
Thank you Ragu. I enjoy reading the process you use to analyze your trades. It's always easy to tell someone to just "trade by the rules", but it's more than just the rules...it's the "process" in implementing the rules that makes the difference. I learn more about how to be successful when I see the flow that other traders are using when they follow a trading method. I'd like more discussion on how others who successfully trade this system actually set things up and the process they use to pull the trigger.
Your welcome markfx..yes..my brain seems to work well when I "systemize" a plan and make it a series of "if-then-statements'..by having a plan of action for every scenario that might occur it helps nullify the "hesitation" factor that happens when we don't have a system in place for dealing with a particular scenario. The "process" is to me the most important aspect. I can't tell you how many times early in my trading career where I would simply hesitate and watch great trades go right by me...talk about frustration...lol...THV is an immense help if used correctly thru a process of filtration and systemization.
  • #11,908
  • Jul 8, 2009 1:33am Jul 8, 2009 1:33am
This is a good set up ... but I didn't take the trade.
So sad
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  • #11,909
  • Jul 8, 2009 1:51am Jul 8, 2009 1:51am
Quoting fosgate_r
This is a good set up ... but I didn't take the trade.
So sad
Don't feel bad, I took the setup off the 1m chart, watched it go 40+ pips in my favor, then watched it come all the way back and stop me out at BE

I think I would have rather missed the trade than to have done something stupid like not taking profit.
  • #11,910
  • Edited 2:43am Jul 8, 2009 2:28am | Edited 2:43am
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 !!!

Thanks for the info, Cobra. I have a few short questions to it:

Do you have a daily loss target as well (e.g. 40 pips), when you stop trading for the day?

If you trading the 1m and 5m and your daily target is 40 pips, you would usually take about 4 trades a day (based on the 10 pip t/p on 1m), is that correct to assume?

Do you ever trade against the coral?

Do you wait for a retest of the coral from above before you go short or a retest from coral from below to go long?

Thank you.
Trading Makes Money!
  • #11,911
  • Jul 8, 2009 4:02am Jul 8, 2009 4:02am
I open this short trade.
but it seems that I am wrong again
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  • #11,912
  • Jul 8, 2009 4:13am Jul 8, 2009 4:13am
Quoting fosgate_r
I open this short trade.
but it seems that I am wrong again
Trading is not about being right. It's about taking a risk with good probabilities, watching to see if you were right or not, and then acting accordingly.

If you had been drawing some trend line on 5m this last 5m short would have been right into the bottom TL of a consolidation triangle, which reduces the probabilities of the trade working.

In any case you could have cut the loss with the close of the first green HA candle and gotten out with a tiny loss. So even with the loss I would still see this trade as a positive in the fact that it gave you an entry, and then gave you a reason to cut the loss short very quickly.

EIDT: Also the last few hours have been very choppy, PA on the smaller time frames gets like this when were are at some important long term areas. Earlier we had a stop driven move short almost down to the 3850 area, which was then pushed right back up over 3900. This system works great when we have some room to run, but when were sitting in a mess of confluence it can be choppy and very difficult to trade for profit with THV3.
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  • #11,913
  • Jul 8, 2009 7:10am Jul 8, 2009 7:10am
What I do is look at my analysis chart. When it looks like the first one I stay out until it looks like the second one.



Quoting Jimmy Jones
Trading is not about being right. It's about taking a risk with good probabilities, watching to see if you were right or not, and then acting accordingly.

If you had been drawing some trend line on 5m this last 5m short would have been right into the bottom TL of a consolidation triangle, which reduces the probabilities of the trade working.

In any case you could have cut the loss with the close of the first green HA candle and gotten out with a tiny loss. So even with the loss I would still see this trade as a positive in the fact that it gave...
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  • #11,914
  • Jul 8, 2009 8:09am Jul 8, 2009 8:09am
Thanks for all the words Jimmy Jones
I just took another trade a few moment ago.
And I exit it with good result.


Quoting Jimmy Jones
Trading is not about being right. It's about taking a risk with good probabilities, watching to see if you were right or not, and then acting accordingly.

If you had been drawing some trend line on 5m this last 5m short would have been right into the bottom TL of a consolidation triangle, which reduces the probabilities of the trade working.

In any case you could have cut the loss with the close of the first green HA candle and gotten out with a tiny loss. So even with the loss I would still see this trade as a positive in the fact that it gave...
Attached Image
  • #11,915
  • Jul 8, 2009 9:30am Jul 8, 2009 9:30am
Quoting MissPips
What I do is look at my analysis chart. When it looks like the first one I stay out until it looks like the second one.
Miss Pips

Very pretty charts!!
I assume the lines are movingaverages, what moving averages do you use?
...and how to you make those rainbow colors!!

Keith
  • #11,916
  • Jul 8, 2009 10:08am Jul 8, 2009 10:08am
Is there a video out there on how to use this system?
ive read the manual an looked through this forum and everyone seems to have different charts and trading differently.
Thanks
PI
  • #11,917
  • Jul 8, 2009 10:41am Jul 8, 2009 10:41am
Can somebody say what happened with JPY - 200+ move in 30 min on all pairs
  • #11,918
  • Edited 12:42pm Jul 8, 2009 11:49am | Edited 12:42pm
I missed so many decent trades today but this was a good one..

Considerations:

1.) 5 min Bullish divergence
2.) 1 min Bullish divergence
3.) 15 min THV Analyze Chart RSI Oversold
4.) Touch of historical horizontal S&R @ about 1.3835

TP at Low of Previous Bearish Run. 15 Pips

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Deprive a man of everything and you give him nothing to lose.
  • #11,919
  • Edited 12:16pm Jul 8, 2009 12:16pm | Edited 12:16pm
Bearish divergence??
Hej.
  • #11,920
  • Jul 8, 2009 12:43pm Jul 8, 2009 12:43pm
Quoting Stitch961
Bearish divergence??
oops ... LOL...

I cannot be bothered to ammend the images....sorry about that!
Deprive a man of everything and you give him nothing to lose.
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