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THV system, final edition

  • #12,041
  • Jul 13, 2009 7:45am Jul 13, 2009 7:45am
Here is another example of a THV trade inside an orderly rainbow. Notice how the characteristics of an orderly rainbow repeat themselves, and how good THV is at telling you where to get in once you have identified an orderly rainbow (graphic way of saying 'orderly trend').
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  • #12,042
  • Jul 13, 2009 7:47am Jul 13, 2009 7:47am
Hello to you all fellow traders!

I am relatively new to THV system, I have downloaded it and install it and I am trying to figure out how it works, but still have my questions and the manual on the first page (version 3). doesn't say much. Does anyone of you happen to know where I can find a very analytical manual of THV or even a video?

Much appreciate any help

Best

P.S.: I have put into the diagram the THV Market Hours indicator but now I can't get it out! Can anyone help me with that problem too?

Thanks in advance!
  • #12,043
  • Jul 13, 2009 8:04am Jul 13, 2009 8:04am
Quoting macman
One of the advantages of trading multiple pairs is you can avoid the lottery of the News Release. However no currency pair actually moves in isolation - it is often the ripple in the pond effect.

If you were trading EURGBP this morning you had no immediate news releases showing, but 1st cousin GBPUSD did have a news release and both pairs started moving at exactly the same time.

So if you are trying to avoid the news release lottery, also check the other close family members.
Now, THAT'S a nice looking template, Macman. Care to share which indicators you're using on it. Cheers.
  • #12,044
  • Jul 13, 2009 8:19am Jul 13, 2009 8:19am
Quoting MissPips
Here is another example of a THV trade inside an orderly rainbow. Notice how the characteristics of an orderly rainbow repeat themselves, and how good THV is at telling you where to get in once you have identified an orderly rainbow (graphic way of saying 'orderly trend').
Seems you must be very patience because I guess your system gives seldom entry signals.
  • #12,045
  • Jul 13, 2009 8:35am Jul 13, 2009 8:35am
Quoting MCFly
...patience....
...is one of the keys to successful trading.

Remember, wait for the very best THV entries (Cashmeer gives great examples) and you will be happy.
  • #12,046
  • Jul 13, 2009 9:01am Jul 13, 2009 9:01am
Based on the 15 min Analysis chart...

Bullish Divergence and the failure to break through the 61.8% Fib gave a pretty good idea that PA would move back to atleast the 50% fib and if passed that to the 38.2% which converged with a series of highs and a downward sloping trendline....

Mananged to scalp some pips off of that....
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Deprive a man of everything and you give him nothing to lose.
  • #12,047
  • Jul 13, 2009 9:04am Jul 13, 2009 9:04am
Quoting TradeWell
...is one of the keys to successful trading.

Remember, wait for the very best THV entries (Cashmeer gives great examples) and you will be happy.
Hehe I know I know and it's hard...

But some members stated that they need 1-3 hours to reach their daily goal and I think misspips could wait some hours more.

In the end all that counts is the amount of collected pips and maybe misspips banks more than everybody else.
  • #12,048
  • Jul 13, 2009 9:12am Jul 13, 2009 9:12am
Well, when I first started testing the 6 points method I was hot-dogging it trying to get every 10 pips I could. But then I realized I'd never be able to keep up that pace ( and also it's harder for me to concentrate to do that in the summer) so I decided to focus on just spotting the best ones.
Also I think you have to be aware of the kind of market you're in and trade accordingly. THV works best in a trending market, and when I put together the 6 point system last winter and spring, the daily range was much wider. It wasn't unusual to see 300 pips, and the average was well over 200. So you got more opportunities to jump in a trend with the 6 points. But now we've been in a pretty narrow range for a long time, and when you are in a narrow range there's a lot of choppiness. So I think right now it's extra important to wait to spot a trend. There were actually three places today - that one and two in the morning session.
Quoting MCFly
Seems you must be very patience because I guess your system gives seldom entry signals.
  • #12,049
  • Jul 13, 2009 9:15am Jul 13, 2009 9:15am
Yes, the V3 zip is still actual and rules have not changed.

The V3 is the base of the system and when you look at the charts you see that many traders added or changed indictaors and personalized the chart.

Some also changed the entry and exit rules, all that is OK, at the end the only thing that counts is to see what the market is doing and following with the correct entry and exit to get our daily goals filled.

Quoting klavins
tnx cobra, just then, please confirm, that in the very first post is the latest tested version of indicators, and no rules have changed (but not updated) in the first post.
thanks,
Klavins
  • #12,050
  • Jul 13, 2009 9:38am Jul 13, 2009 9:38am
Quoting MCFly
Hehe I know I know and it's hard...
I remember exactly when it hit me that sitting on the hands was a profitable way to go...

When Scrutch and Nuancom were in here - man I miss those guys - I used to watch nuancom check in periodically with statements like, "40 more good ones!" and "Nice move for 30 Pips, going to the beach!"

He's a machine!

One day I did not notice a post from him for sometime and then he came in the room and posted a trade...he preceeded the screen shot with something to the effect of, "Finally a decent trading opportunity!"

I realised that he had probably waited there for hours for a highly probable trade and then cashed in...

That really opened my eyes...

Someone else in here, not too long ago in a self critiquing way mentioned that he spends his A+++ trades getting money back from taking B+ trades...

I know the feeling and it stinks...

Patience is the name of this game ...
Deprive a man of everything and you give him nothing to lose.
  • #12,051
  • Edited 11:10am Jul 13, 2009 10:27am | Edited 11:10am
Hi Twamta,

You will see a lot of different charts here (some really clean and beautiful like Cobra's, Tradewell's and Cashmeer's, others messier -the guilty parties to remain nameless), but THV is really very simple. You will notice that whatever else you see on the charts, everyone is doing a few simple things in common:

1) We are all using the Coral and cloud to get the direction to trade in (long when PA is above, short when it's below ).

2) We are all using the trix to time our entry. Some are using a trix cross and fast trix above/below zero in the direction of the trade to enter, and some are counting 6 points on the mtf trix indicators to enter. But once we know the direction to trade in, we are all waiting for the trix to give us a signal for a possible trade.

3) Some advanced traders are also trading when they see divergence between the price action and the trix.

However, an important point is that most people are not taking every trade they see on offer. In other words, regular good trading practices apply, including watching out for news times, patterns, pivots, trendlines etc. Therefore, besides the official toolkit, each person has their own additional analysis of the market to do before taking a trade.

A lot of people have shared their own favorite analysis methods for finding good entries. Some like to see a pivot or support or fib line broken or bounced off of before trading. Some like to see a trendline broken or bounced off of before trading. Some use other methods to confirm trend strength or choppiness like the RSI or the rainbow or heatmaps. Some will take any trade at all except when the Coral is flat. All those are just the different ways that each person has of being aware of what the market is doing before they decide to take a trade, and I guess you will have to find the ones you are comfortable with.


Exits:
Exits are also a bit personal. Some are using a set SL 15, TP 10 with the 6 point mtf method. Some (this is the original method) are taking what the market gives them by setting an initial SL based on the ATR suggestion and TP based on at least 1/2 of the ATR suggestion, and then if the trade goes well targeting support or resistence lines, or waiting for a trix change in color before getting out. This way you can get more pips, but you have to be more patient to do it. Some are using multiple lots and trailing their stops on the additional lots.





Quoting twamta
Hello to you all fellow traders!

I am relatively new to THV system, I have downloaded it and install it and I am trying to figure out how it works, but still have my questions and the manual on the first page (version 3). doesn't say much. Does anyone of you happen to know where I can find a very analytical manual of THV or even a video?

Much appreciate any help

Best

P.S.: I have put into the diagram the THV Market Hours indicator but now I can't get it out! Can anyone help me with that problem too?

Thanks in advance!
  • #12,052
  • Jul 13, 2009 10:29am Jul 13, 2009 10:29am
great post Cash, and yes, I miss nuan also, he is a great, dry trader.

Quoting cashmeer
I remember exactly when it hit me that sitting on the hands was a profitable way to go...

When Scrutch and Nuancom were in here - man I miss those guys - I used to watch nuancom check in periodically with statements like, "40 more good ones!" and "Nice move for 30 Pips, going to the beach!"

He's a machine!

One day I did not notice a post from him for sometime and then he came in the room and posted a trade...he preceeded the screen shot with something to the effect of, "Finally a decent trading opportunity!"

I realised that he [i]had...
  • #12,053
  • Jul 13, 2009 10:35am Jul 13, 2009 10:35am
Quoting cashmeer
When Scrutch and Nuancom were in here - man I miss those guys
Patience is the name of this game ...
Hey Ca$h...
Still about, not much time to post as I'm working on multiple time sensitive projects, but I lurk from time to time to keep track of the crew.

Just stopped out of a quick trade for some nice pips.
Keep the lights on
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Listen to the whispers.... You may learn something
  • #12,054
  • Jul 13, 2009 10:45am Jul 13, 2009 10:45am
Thanks for this post!


Quoting MissPips
Hi Twamta,

You will see a lot of different charts here (some really clean and beautiful like Cobra's, Tradewell's and Cashmeer's, others messier -the guilty parities to remain nameless), but THV is really very simple. You will notice that whatever else you see on the charts, everyone is doing a few simple things in common:

1) We are all using the Coral and cloud to get the direction to trade in (long when PA is above, short when it's below ).

2) We are all using the trix to time our entry. Some are using a trix cross and fast trix above/below...
  • #12,055
  • Jul 13, 2009 10:54am Jul 13, 2009 10:54am
Dear MissPips,

Thank you for taking the time to write me such a long post. The problem is that I am not familiar with the terms you are using (PA, Coral, Trix Cross e.t.c.). Terms that are very familiar to you are not to me and I cant find any page, or manual that describes what everything on the THV is. I can't use a tool effectively unless I know what this tool is. What is the coral? What is the PA? What is the Trix and the ATR suggestion? How can I change their parameters if I don't know what everything is?

Obviously it's a free tool and as a free tool I am not expecting much on the support part, but I would like just to know if there is any link that explains some basic matters about THV.

Also does you or anyone else know how can i get rid of the THV Market Hours indicator?

Thanks in advance again, no matter if you have time to answer me again or not.
  • #12,056
  • Jul 13, 2009 10:54am Jul 13, 2009 10:54am
Quoting MissPips
1) We are all using the Coral and cloud to get the direction to trade in (long when PA is above, short when it's below ).
And at times we jump the gun a bit...
I took this trade early with a 5p stop, which was never challenged.
However I was only looking to get 8 or 10p's out of the trade. Took 25% off at 11p's and another 50% off just below the MR1, leaving the last 25% with a trailing stop. When the PA cleared the Coral is when I moved my inital stop up and started taking profits.
Listen to the whispers.... You may learn something
  • #12,057
  • Jul 13, 2009 11:03am Jul 13, 2009 11:03am
Quoting MissPips
Hi Twamta,

You will see a lot of different charts here (some really clean and beautiful like Cobra's, Tradewell's and Cashmeer's, others messier -the guilty parities to remain nameless), but THV is really very simple. You will notice that whatever else you see on the charts, everyone is doing a few simple things in common:

1) We are all using the Coral and cloud to get the direction to trade in (long when PA is above, short when it's below ).
...
Thanks for the thorough explanation MissPips.
It helps me too.
  • #12,058
  • Jul 13, 2009 11:24am Jul 13, 2009 11:24am
Quoting twamta
The problem is that I am not familiar with the terms you are using (PA, Coral, Trix Cross e.t.c.). Terms that are very familiar to you are not to me and I cant find any page, or manual that describes what everything on the THV is.
Apart from the Coral, which is explained in the thread and the manual in the first post, these are all terms used in forex in general, not THV specific, so you may want to spend some time reading up on forex trading.
There are some excellent sources on the net like babypips.com or investopedia.com

You'll find that PA is short for Price Action, Trix is triple exp. avg. etc.

Quote
Also does you or anyone else know how can i get rid of the THV Market Hours indicator?

This is basic understanding of MT4, rightclick the chart and go to Indicators, where you can do indicator stuff, like edit setting or delete.
Hope this helps.
  • #12,059
  • Jul 13, 2009 11:38am Jul 13, 2009 11:38am
Scrutch...man it's good to see you...you're always workin' on some time sensitive stuff....when's it gonna be done?!

Just took a quick trade...thought I saw divergence in the 5 min LOL...but it wasn't! Anyhow turned out well...I learned a little trick from the Maestro this morning...

That 38.2% on the 15 is messing everything up...I got caught in the previous fake break-out...should have reversed on the divergence signal on the 5 min...

shoulda, woulda, coulda !
Attached Image(s) (click to enlarge)
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Deprive a man of everything and you give him nothing to lose.
  • #12,060
  • Edited 12:37pm Jul 13, 2009 11:41am | Edited 12:37pm
Oh, sorry.

The Coral is the THV3 Coral indicator. It's just a moving average and as to the exact formula for it, that's proprietary to Cobra. You will find it on the first page. We look for long trades when price action (PA for short) is above it, short when PA is below it.

The cloud is the Ichimoku indicator. The correct settings for it are in the THV template which you will find on the first page. We look for long trades when PA is above it, short when PA is below it.

The trix is the THV3 Trix indicator. You will find it on the first page. We trade long when the fast line crosses above the slow line and crosses above zero and short when the fast line crosses below the slow line and below zero.

I would wait to try the mtf version of the system until after you have used the basic version.


SL is StopLoss. TP is TargetProfit. ATR is Average True Range. THe THV ATR Pips Indicator will make a suggestion for you as to which SL to use based on the current Average True Range for the timeframe. Mtf is multiTimeFrame.

You can google ATR, Trix and Ichimoku if you want to know how they are constructed but you don't really need to know that to trade THV.

To get rid of the Market Hours, right click on the chart, select Indicators, select it, and click Delete. I got rid of mine a long time ago but if I remember correctly it may leave some artifacts. If you still see any notifications from it, right click on the chart, select Objects, locate whatever of its objects it didn't delete and delete them.

Quoting twamta
Dear MissPips,

Thank you for taking the time to write me such a long post. The problem is that I am not familiar with the terms you are using (PA, Coral, Trix Cross e.t.c.). Terms that are very familiar to you are not to me and I cant find any page, or manual that describes what everything on the THV is. I can't use a tool effectively unless I know what this tool is. What is the coral? What is the PA? What is the Trix and the ATR suggestion? How can I change their parameters if I don't know what everything is?

Obviously it's a free tool and...
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