Hi all-
I've decided to poke my head in here and just say Hi to everyone and lend a hand.
I'd like to answer some questions that I see recurring: and why some people are having a difficult time trading THV
THV is designed to get guaranteed pips. It's not designed to catch the entire move--- your entry [if you followed the rules] will have you enter on the pull back of the move-- whether it be on a 1M, 5M, 15M...all the way up to monthly timeframes.
Most of the time-- this is where the jackpot is. Right now, there is a lot of sideways motion in the market--and having read a lot of other systems, people aren't doing so well. Most systems are designed for trending markets.
That's the beauty of THV--- it catches little trends. People like to look at higher TF's for "the bigger picture"-- guess what-- most of the time, by the time you've determined a trend, you're too late.
Some people have the misconception that trading higher TF's is "safer"--- not really-for the fact listed above. Drawdowns are also massive--which is why THV is so appealing--- risk is minimal and you may not get the entire move like people who sit with bated breath on higher TF's and watch for the next trend, but trading opportunities are more plentiful on the smaller TF's--you're exposure to the market is limited [in and out]. I've known traders who trade higher TF's that have lost it all --yes they were trading the trend, but the trend took a pause [which doesn't always happen at fibs or news--- the major Forex pairs for scalping actually can be driven by Oil, and even more so S&P and DOW futures]
Just think: with a $1,000.00 account, and you traded 0.1 lots, for only 10 pips a day [trust me, you can get that in less than 2 hours at any given time of day with THV] you've just made 10% on your account for the week [$100.00 trading EUR/USD at 5 days] After that week, if you have the ability to do micro accounts, correct money management would allow for 0.11 lots at week 2--- by the end of the month you'll have a ROI of almost 50% --- that's pretty fantastic---with hardly any time invested.
Why should we obey the coral? I haven't seen a good answer for this, other then "it's the trend". Sort of true. The coral actually represents the 15M trend-- the coral will look different on the different TF's--- and shouldn't be used on 15M or higher. That's the problem with most indicators-- smaller TF's need bigger number values for a more accurate result, higher TF's need smaller numbers.
I'd want to know the trend is going for more than 5 minutes before entering a trade--wouldn't you?
Anyway, I am attaching a template that some people might find useful for the MTF Trix. I'm not attaching any of the indicators as they can be found within the system or within the thread.
template indicators:
THV coral
THV FF Cal -for your pertinent news needs
Miss Pip's Toggle/Reg HA [minus the alert]
THV ATR pips- helps determine a safe S/L determined by voloatility of the timeframe attached to it
THV Ichimoku cloud indicator [2X] settings are in order 5M/1M, 15/60--trade with 3 "light" confirmation-minimum] Have 5M first because that's the 1st light I want to see.
T@H's Pivots v4= this tool is very handy. Be sure to set your broker's GMT settings in the options. Not only does this indicator show you the S/R levels and daily pivot, but for those that didn't know, these calculations are based on the previous day's numbers---and happen to coincide with the daily fibs! [major number-0,38,61,100, etc] Pretty snazzy, eh? Brilliant if you ask me.
MTF THV Trix- 5m-this template is for 1M trading--- the 1 mintue trix values are good, but I have found that slight modification of the a and b values for higher TF's make for a more accurate signal.
5M= At3=20 Bt3=30
15M= At3=18 Bt3=27
these are suggested values*
I've also emphasized the hull line of the trix from the signal line, and added a 0 value. At the very least the thin signal line should be below for SELL and above for BUY.
Your very best trades will be will PA above/below coral[and well clear of it] as well as
for SELL-- the thick hull line is at or below the 0 line
Buy the thick hull line at at or above the 0 line
People always ask what's the best TP? Well, that's actually a difficult answer, because the market is always different. Sometimes, you'll thank your lucky stars and followed the THV's rules of 10 pips. Other times, you'll ask yourself, why did I exit so soon? I could've had more.
My advice is-- if you're really worried about it, take the guaranteed 10 and be done with it. Or, hop off when the Heiken Ashi changes color, then look for a re-entry point. The main thing is to think like this:
rather than think : "I could have had more" you should think:" I'm glad I didn't give any back."
Greed consumes us all--- and if you're not an experienced trader and don't know how the market moves, this is my suggestion to you. The more exposure you have to the market the more likely it is you'll lose what you've gained--mainly because you *think* you can predict the future of the trend, and then you've come to realize your stop loss. If the trade happens off a bounce of a S/R or fib line, aim for the very next line on your chart. Sometimes that space between them can be 20-30-or more! pips! I also highly suggest you put in a value for your T/P instead of just hitting the button--my broker [lately] has been lagging something fierce, and I suffer requotes more often than I'd like [yes, I know, I need another broker, but my broker offers a 1 pip spread of EUR/GBP in the mornings, and I can't find anything that beats that
]
Good trading to you
I've decided to poke my head in here and just say Hi to everyone and lend a hand.
I'd like to answer some questions that I see recurring: and why some people are having a difficult time trading THV
THV is designed to get guaranteed pips. It's not designed to catch the entire move--- your entry [if you followed the rules] will have you enter on the pull back of the move-- whether it be on a 1M, 5M, 15M...all the way up to monthly timeframes.
Most of the time-- this is where the jackpot is. Right now, there is a lot of sideways motion in the market--and having read a lot of other systems, people aren't doing so well. Most systems are designed for trending markets.
That's the beauty of THV--- it catches little trends. People like to look at higher TF's for "the bigger picture"-- guess what-- most of the time, by the time you've determined a trend, you're too late.
Some people have the misconception that trading higher TF's is "safer"--- not really-for the fact listed above. Drawdowns are also massive--which is why THV is so appealing--- risk is minimal and you may not get the entire move like people who sit with bated breath on higher TF's and watch for the next trend, but trading opportunities are more plentiful on the smaller TF's--you're exposure to the market is limited [in and out]. I've known traders who trade higher TF's that have lost it all --yes they were trading the trend, but the trend took a pause [which doesn't always happen at fibs or news--- the major Forex pairs for scalping actually can be driven by Oil, and even more so S&P and DOW futures]
Just think: with a $1,000.00 account, and you traded 0.1 lots, for only 10 pips a day [trust me, you can get that in less than 2 hours at any given time of day with THV] you've just made 10% on your account for the week [$100.00 trading EUR/USD at 5 days] After that week, if you have the ability to do micro accounts, correct money management would allow for 0.11 lots at week 2--- by the end of the month you'll have a ROI of almost 50% --- that's pretty fantastic---with hardly any time invested.
Why should we obey the coral? I haven't seen a good answer for this, other then "it's the trend". Sort of true. The coral actually represents the 15M trend-- the coral will look different on the different TF's--- and shouldn't be used on 15M or higher. That's the problem with most indicators-- smaller TF's need bigger number values for a more accurate result, higher TF's need smaller numbers.
I'd want to know the trend is going for more than 5 minutes before entering a trade--wouldn't you?
Anyway, I am attaching a template that some people might find useful for the MTF Trix. I'm not attaching any of the indicators as they can be found within the system or within the thread.
template indicators:
THV coral
THV FF Cal -for your pertinent news needs
Miss Pip's Toggle/Reg HA [minus the alert]
THV ATR pips- helps determine a safe S/L determined by voloatility of the timeframe attached to it
THV Ichimoku cloud indicator [2X] settings are in order 5M/1M, 15/60--trade with 3 "light" confirmation-minimum] Have 5M first because that's the 1st light I want to see.
T@H's Pivots v4= this tool is very handy. Be sure to set your broker's GMT settings in the options. Not only does this indicator show you the S/R levels and daily pivot, but for those that didn't know, these calculations are based on the previous day's numbers---and happen to coincide with the daily fibs! [major number-0,38,61,100, etc] Pretty snazzy, eh? Brilliant if you ask me.
MTF THV Trix- 5m-this template is for 1M trading--- the 1 mintue trix values are good, but I have found that slight modification of the a and b values for higher TF's make for a more accurate signal.
5M= At3=20 Bt3=30
15M= At3=18 Bt3=27
these are suggested values*
I've also emphasized the hull line of the trix from the signal line, and added a 0 value. At the very least the thin signal line should be below for SELL and above for BUY.
Your very best trades will be will PA above/below coral[and well clear of it] as well as
for SELL-- the thick hull line is at or below the 0 line
Buy the thick hull line at at or above the 0 line
People always ask what's the best TP? Well, that's actually a difficult answer, because the market is always different. Sometimes, you'll thank your lucky stars and followed the THV's rules of 10 pips. Other times, you'll ask yourself, why did I exit so soon? I could've had more.
My advice is-- if you're really worried about it, take the guaranteed 10 and be done with it. Or, hop off when the Heiken Ashi changes color, then look for a re-entry point. The main thing is to think like this:
rather than think : "I could have had more" you should think:" I'm glad I didn't give any back."
Greed consumes us all--- and if you're not an experienced trader and don't know how the market moves, this is my suggestion to you. The more exposure you have to the market the more likely it is you'll lose what you've gained--mainly because you *think* you can predict the future of the trend, and then you've come to realize your stop loss. If the trade happens off a bounce of a S/R or fib line, aim for the very next line on your chart. Sometimes that space between them can be 20-30-or more! pips! I also highly suggest you put in a value for your T/P instead of just hitting the button--my broker [lately] has been lagging something fierce, and I suffer requotes more often than I'd like [yes, I know, I need another broker, but my broker offers a 1 pip spread of EUR/GBP in the mornings, and I can't find anything that beats that
]Good trading to you
--- Gone --- RIP 11/27/09
