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THV system, final edition

  • #12,241
  • Jul 22, 2009 5:46am Jul 22, 2009 5:46am
been waiting 3 hours...... no setup for me....

anybody else?
  • #12,242
  • Jul 22, 2009 5:53am Jul 22, 2009 5:53am
Quoting pipgame
been waiting 3 hours...... no setup for me....

anybody else?
Not a good market today. I will stay out till I see a good trend/breat out.
  • #12,243
  • Jul 22, 2009 5:54am Jul 22, 2009 5:54am
Quoting cashmeer
I'd read em' both so you get a full understanding about the methodology and then trade examples...
Okay
  • #12,244
  • Edited 7:11am Jul 22, 2009 6:32am | Edited 7:11am
Good pips...

Considerations:

1.) 5 min Divergence
2.) Bounce at 38.2 Fib...


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hopefully a breakout of this small range...I hope this thing breaks the previous high at about 1.42130




I just chickened out...I think I'm gonna hate myself for that....



DARNIT... The 15 min looks like it wants to bust out!


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Oh wel...time to sit and wait...


woa! It's a good thing I did exit, that resistance proved too much for the moment...
Deprive a man of everything and you give him nothing to lose.
  • #12,245
  • Jul 22, 2009 8:42am Jul 22, 2009 8:42am
good pips...

Considerations:

1.) 15 Min break of Trix T/L and gravitation towards previous low and bottom of range.
2.) 5 Min break and retest of 61.8% (although the trix was pretty red...)
3.) 1 Min bearish divergence and bounce off of the Coral...

Good for 15+ pips...
Attached Image(s) (click to enlarge)
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Deprive a man of everything and you give him nothing to lose.
  • #12,246
  • Jul 22, 2009 2:43pm Jul 22, 2009 2:43pm
I have been testing this system out for the past 3 days and feeling really good about it. I also placed the 60 lwma on my charts as well and watched how price reacts to it. Wow. This is some cool stuff. Thanks again Cobra and the rest of the team.
"Don't trade to trade . . . trade to win." - James16
  • #12,247
  • Jul 22, 2009 2:45pm Jul 22, 2009 2:45pm
Quoting sleepypipCDN
Yes. I read that this current build of MT4 will be the last supported. There is much discussion about this new MT5 and how it will only benefit the brokers, not us. For example, no more individual orders, they all get lumped together. "First in, first out" order execution. No TP/SL, have to place a buy/sell stop instead. Inability to modify an open order. No more hedging too. All since the self governing, NFA made these rules in the U.S. So none of this applies to the UK yet, BUT, MT5 will behave the same way anyway!

but if you are manually trading...
Interesting development. But like Cobraforex and MissPips and others have mentioned, MT4/5 is not the ideal tradingplatform for scalping, at least not on the M1 TF. It's a lot easier/quicker to trade with tools like Ninjatrader.
One can have a micro account with a MT4/5 broker for THV, and trade the primary account with a broker the supports Ninja or similar.
  • #12,248
  • Jul 22, 2009 3:04pm Jul 22, 2009 3:04pm
As Cash said: It helps to understand what's behind of ICCE if you read the technical thread as well.

That method isn't easy to understand and it takes some time to get firm with it as it depends on your own interpretation of the range boxes.

Quoting MCFly
Hi Cobra,

I think Bemac started two threads which deal with this topic. Do you recommend to read both threads or only the current one?
  • #12,249
  • Jul 22, 2009 3:06pm Jul 22, 2009 3:06pm
MT4 execution is far too slow for real scalping, that's why I only use MT4 for charts and execute the trades on my brokers platforms.

Quoting hoek_nl
Interesting development. But like Cobraforex and MissPips and others have mentioned, MT4/5 is not the ideal tradingplatform for scalping, at least not on the M1 TF. It's a lot easier/quicker to trade with tools like Ninjatrader.
One can have a micro account with a MT4/5 broker for THV, and trade the primary account with a broker the supports Ninja or similar.
  • #12,250
  • Jul 22, 2009 3:13pm Jul 22, 2009 3:13pm
Quoting cobraforex
MT4 execution is far too slow for real scalping, that's why I only use MT4 for charts and execute the trades on my brokers platforms.
Sorry if that is a stupid question, but why is Mt4 too slow for scalping? You mean it takes a lot of time to actually set up an order?
Trading Makes Money!
  • #12,251
  • Jul 22, 2009 4:12pm Jul 22, 2009 4:12pm
Yes, I use one click orders to close my positions, also the slipping is higher on MT4, apart you have frequently frozen platforms, spikes that don't appear in other platforms, etc.


Quoting Cencored
Sorry if that is a stupid question, but why is Mt4 too slow for scalping? You mean it takes a lot of time to actually set up an order?
  • #12,252
  • Jul 23, 2009 1:57am Jul 23, 2009 1:57am
After trading THV for quite a while now I have to say that without considering trend lines, fib levels, pivots etc, I have my doubts that I could make this system a profitable one.
Does anyone share this experience?
Trading Makes Money!
  • #12,253
  • Jul 23, 2009 4:00am Jul 23, 2009 4:00am
Quoting Cencored
After trading THV for quite a while now I have to say that without considering trend lines, fib levels, pivots etc, I have my doubts that I could make this system a profitable one.
Does anyone share this experience?
Agreed, Cencored. Pivots are incorporated into the THV method becuase of their importance. Fibs and Trendlines are apart of Trading. You need to integrate them into your trades...I do not think that anyone trades with out considering these tools...
Deprive a man of everything and you give him nothing to lose.
  • #12,254
  • Jul 23, 2009 5:46am Jul 23, 2009 5:46am
Can someone please clear some confusion ...

Trading THV on the 1M for example, it is very common to be only taking around 7 to 8 pips, however the stop loss suggestion (and that required to cover previous S/R) is most often double that at about 15.

Is this really meant to be traded with a risk:reward of 2:1 as that seems pretty dangerous?

I'd have thought we should always be shooting for at least 1:1, but that means a lot smaller stop loss when scalping on the 1M.

???

Thanks.
  • #12,255
  • Jul 23, 2009 8:08am Jul 23, 2009 8:08am
Quoting cashmeer
good pips...

Considerations:

1.) 15 Min break of Trix T/L and gravitation towards previous low and bottom of range.
2.) 5 Min break and retest of 61.8% (although the trix was pretty red...)
3.) 1 Min bearish divergence and bounce off of the Coral...

Good for 15+ pips...
Hi Cashmeer,

what's your hitrate and how many trades you usually get per day?
  • #12,256
  • Jul 23, 2009 9:38am Jul 23, 2009 9:38am
Quoting Cencored
Hi Scrutch.
Would you mind posting a few more of your trades with screenshots? I am sure we can all learn a lot from you. It is much appreciated.
Thank you
Here's at least one more...a bit pressed for posting time.
Scalping M1 and with management and this is turning into a nice push.
Breakout of M15 congestion area (also on H1 and H4), a bit of news and it's moving nicely.
Trade was taken off the M15 with permission from the THV M1.
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Listen to the whispers.... You may learn something
  • #12,257
  • Jul 23, 2009 9:54am Jul 23, 2009 9:54am
Did anyone take this long, or is this not considered a valid entry? It happened at 10:15 EST.
Thanks
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Without vision, the people will perish.
  • #12,258
  • Jul 23, 2009 10:23am Jul 23, 2009 10:23am
Is this valid?
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Without vision, the people will perish.
  • #12,259
  • Jul 23, 2009 10:43am Jul 23, 2009 10:43am
Quoting bythepound
Did anyone take this long, or is this not considered a valid entry? It happened at 10:15 EST.
Thanks
From my point of view your entry was to close to the pivot. The fact that news came next would be for me also a reason to stay out.
  • #12,260
  • Jul 23, 2009 11:52am Jul 23, 2009 11:52am
Quoting JohnnyFOREX
Can someone please clear some confusion ...

Trading THV on the 1M for example, it is very common to be only taking around 7 to 8 pips, however the stop loss suggestion (and that required to cover previous S/R) is most often double that at about 15.

Is this really meant to be traded with a risk:reward of 1:1 as that seems pretty dangerous?

I'd have thought we should always be shooting for at least 1:1, but that means a lot smaller stop loss when scalping on the 1M.

???

Thanks.
Hello Johnny:

I'll pitch in my 2 cents....Doblece put it that scalping (properly, I'll elaborate) usually has very high hit rates, and so one can still be profitable with a 1:2 ratio. I recall Misspips' hit rates were sometimes higher than that when she was testing the MTF system.

If one's hit rate is 70% and you take 8 pips out that's 56 pips and 45 pips loss, net 11 pips...

Having said that, a person does not only take out 8 pips, sometimes you're gonna take out more, 10, 12 15...whatever, and I, do not always let myself get stopped out. If it's is totally obvious that I entered a wrong trade, I'll cut my losses short. Therefore scalping properly should be profitable...I know it is easier said than done....

The second point is that scalping the 1 min does not mean that we're only observing the 1 min chart. Even with the MTF, higher time frames should be used at all times...there are things in the chart you cannot see clearly even when zoomed out totally. I believe that most people including Cobra, Misspips, Scrutch and the rest that do use the 1 min are entering on the 1 min based on what they see on higher time frames. They can correct me if I am wrong...

The last point is that exiting, more often that not, is more difficult than finding the right entry...and in the words of Cobra, it takes serious screen time to get a good feeling of when and how to exit...

Everyone should be using higher time frames and trend lines, fibs, and pivots...I hope this helps...

Cashmeer.
Deprive a man of everything and you give him nothing to lose.
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