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THV system, final edition

  • #12,261
  • Jul 23, 2009 11:59am Jul 23, 2009 11:59am
This is my third entry, valid? It worked out, but was I just lucky, as I seem to be trading against the 1 hour trend and I am still above the Coral on the 5M. trade was at 12:36 pm EST.
Thanks
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Without vision, the people will perish.
  • #12,262
  • Jul 23, 2009 3:30pm Jul 23, 2009 3:30pm
I don't know what it is, but I seem to be more profitable on the M15 tf (according to BB's method).
Gave the M1 a go for a few weeks but ended up losing more than I gained. Learned some valuable lessons along the way though. But I think I will switch back to M15 for good. Everyone is different I guess...

Here is a quick one, that was worth 30 pips - played it safe though and took out 50% at 30 pips, s/l to BE.
Trade ended up delivering 70 pips overall. Oh well, I carved out a nice slice of it.

The 2nd trade was worth just as many pips. Good day!

- break of trix trendline
- break of pivot
- 6 MTF lights
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Trading Makes Money!
  • #12,263
  • Jul 23, 2009 3:35pm Jul 23, 2009 3:35pm
Quoting bythepound
Did anyone take this long, or is this not considered a valid entry? It happened at 10:15 EST.
Thanks
Yes that is a very nice trade--and valid, however, when scalping 1M charts, every last candle counts--I would have entered right after the bounce/rejection, and when the trade signal came jump in right them rather than waiting a bar or 2.
--- Gone --- RIP 11/27/09
  • #12,264
  • Jul 23, 2009 3:36pm Jul 23, 2009 3:36pm
Quoting bythepound
Is this valid?
yes it is a valid trade.
it did not go very far because you entered late.
Had you entered earlier, the resistance line would have been in the way and it bounced off it before, so you have done well to wait, however don't expect to see the trend go on forever after it had moved a little while already before you entered. This is especially true on the M1.
Well this is at least my view of things, maybe someone else sees more than I do.
Trading Makes Money!
  • #12,265
  • Jul 23, 2009 3:37pm Jul 23, 2009 3:37pm
Quoting bythepound
Is this valid?
That is a vaild trade as well-- 1M trix has the line above the thick one and you are still above the 0 line and trading with the overall trend. I doesn't matter the 5M trix is coming from the bottom-- as long as it was all green and above 0 it's all good.

Again, watch out for getting in too late.
--- Gone --- RIP 11/27/09
  • #12,266
  • Jul 23, 2009 3:55pm Jul 23, 2009 3:55pm
Quoting bythepound
This is my third entry, valid? It worked out, but was I just lucky, as I seem to be trading against the 1 hour trend and I am still above the Coral on the 5M. trade was at 12:36 pm EST.
Thanks

his was also a fine trade-- PA bouncing on the top side and 3 lights, and trend line broken to the down side--both trix's below 0

Classic THV IMO

Good job.

Once you get used to thinking of not trying to get every single pip out of the market and just trading the signals when they come, and being satisfied with bites from the market, you'll be very suprised how those little bites turn into big mounds of $$$ after a short time.

This thinking proves very true for today when GU [not that I recommend scalping this pair] was teeter tottering back and forth, the "big boy" traders were losing their shirts while the scalpers prevailed.

Just keepin' it real. You dont want to be in the market any longer than you have to -- things change--and it happens SO fast. I don't even bother with trailing stops and this and that--once I see a good setup it's 10-20 and I'm outta there. I never think twice.

I don't have any issues getting my daily goal [also very important in trading]--I also look for other trade signals like pins, hammers, etc. on 5M that don't necessarily coincide with THV...but even still I truly believe between EUR open and NY open -when those hours overlap--you should get at least 4 trade signals. [1 an hour or so] That's good for a minimum 40 pips--- not bad for a few hours-- take that at 5 days a week --800 pips month+--- that's a good haul even for professional traders--- and I'm willing to bet they've lost a lot more than you did to get there by hitting their S/L in this crazy market.

Again, don't feel compelled to trade EU --that's turning into a difficult pair to trade [IMO]-- I'd really like to see more EJ charts here-I have to pay an extra pip to play the game --but it's well worth it, as the movement isn't as choppy and the moves are much larger.

Just some ideas.... but again Dan, all 3 charts were good trades. As was mentioned, do be careful of news and trading around the DP--- the Daily Pivot is THE most strongest S/R and it ususally takes a while to PA to go either way--- if it does burst through it always tends to come back---very strong magnet.
--- Gone --- RIP 11/27/09
  • #12,267
  • Jul 23, 2009 4:24pm Jul 23, 2009 4:24pm
I totally agree with IP, good post as always!
I have stopped trading EU because I really do not like how it is behaving anymore. EJ is very nice. The moves are usually larger and you can get more pips in a move than on EU I believe.
Also for starters I think it is easier to trade the M5, the M1 is for extreme scalping only and should only be done by experiences traders (I am not one of them, so I prefer a larger tf).

Things are a bit slower on the M5 and signals don't come as often, so you also practice your patience.
Trading Makes Money!
  • #12,268
  • Jul 23, 2009 4:51pm Jul 23, 2009 4:51pm
Quoting Cencored
I totally agree with IP, good post as always!
I have stopped trading EU because I really do not like how it is behaving anymore. EJ is very nice. The moves are usually larger and you can get more pips in a move than on EU I believe.
Also for starters I think it is easier to trade the M5, the M1 is for extreme scalping only and should only be done by experiences traders (I am not one of them, so I prefer a larger tf).

Things are a bit slower on the M5 and signals don't come as often, so you also practice your patience.

Thanks K

Agree with the 5M theory--don't think of it as pips you missed from the beginning, but you'll make up for it [most of the time] on the back side by being able to see your target and the length of the candle rather than hopping off right when the price hiccups a bit.

Maybe missed some trades, but 5M entries can potentially be bigger moves.

Perspesctive is everything
--- Gone --- RIP 11/27/09
  • #12,269
  • Jul 23, 2009 7:58pm Jul 23, 2009 7:58pm
Here's a trade I took on demo:

Price trading below cloud, coral, and MR1
Fast Trix Cross 0
Sold at 156.72 and got 30 pips

Is this a valid setup?

I'm thinking an aggressive entry would have been a cross of the fast trix to the slow one . . . this is gotta be the most robust scalping system I have ever tested . . . there have been great setups all week unless I'm not seeing it right. . .
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"Don't trade to trade . . . trade to win." - James16
  • #12,270
  • Jul 23, 2009 10:39pm Jul 23, 2009 10:39pm
Hi Cobra & Gang.

Hi I'm A Newbie On Here, This Is My First Post.
Though I'm Not New To Trading,
2.5 yrs Of Stocks/Options.
I Started Trading Fx A Month Ago,
Going virtually Sideways Till This Week,
When I Started Using This System,
My Account Is Up 30%.
I Have Money Management In Place,
Having Read Books By Van Tharp & Jack Schwagger,
Has Helped Getting That In Place.
My Ratio Has Been 23w/3l,
This Is The Best System I've Used By A Mile,
Thanks Cobra, This System Is Awesome.
  • #12,271
  • Jul 23, 2009 11:48pm Jul 23, 2009 11:48pm
Quoting Flem26
Here's a trade I took on demo:

Price trading below cloud, coral, and MR1
Fast Trix Cross 0
Sold at 156.72 and got 30 pips

Is this a valid setup?

I'm thinking an aggressive entry would have been a cross of the fast trix to the slow one . . . this is gotta be the most robust scalping system I have ever tested . . . there have been great setups all week unless I'm not seeing it right. . .
Yes it's valid, but you're a brave soul to be scalping GY.....

Nice trade
--- Gone --- RIP 11/27/09
  • #12,272
  • Jul 24, 2009 1:16am Jul 24, 2009 1:16am
Quoting IrishPips
Yes it's valid, but you're a brave soul to be scalping GY.....

Nice trade
Thanks. What can I say, Geppy, Euro-Yen, and the pounder are my favorite pairs. This is the best scalping system I have ever seen. The THV team has got their stuff together.
"Don't trade to trade . . . trade to win." - James16
  • #12,273
  • Jul 24, 2009 1:46am Jul 24, 2009 1:46am
Quoting IrishPips
Yes that is a very nice trade--and valid, however, when scalping 1M charts, every last candle counts--I would have entered right after the bounce/rejection, and when the trade signal came jump in right them rather than waiting a bar or 2.
Hi IP,

what about this kind of trade? The PA bounced from the coral and closed above the Pivot Point. The 1 min fast Trix crossed the slow Trix and both trix on the 5 min tf are above zero. But you can't see a separation between the fast and slow 5 min trix. Too risky or go?
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  • #12,274
  • Jul 24, 2009 4:31am Jul 24, 2009 4:31am
Anyone taken any trades today?
I am sitting on my hands waiting for some of the setups I can see to confirm, but so far I have been sitting on my hands for 3 hours...
Trading Makes Money!
  • #12,275
  • Jul 24, 2009 5:05am Jul 24, 2009 5:05am
Finally something takable and I missed it because I was on the phone lol.

This one delivered 14 pips, not much for a EU trade on M1, however I am always taking quicker profits if the coral is as flat as it is.
Also the red resitance line at 135 even could become a problem, so I would make sure I am out of it by then.
Nice uptrend (as well as a bounce of it) and bounce of 38% support fib.
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Trading Makes Money!
  • #12,276
  • Jul 24, 2009 5:36am Jul 24, 2009 5:36am
Quoting Cencored
Finally something takable and I missed it because I was on the phone lol.

This one delivered 14 pips, not much for a EU trade on M1, however I am always taking quicker profits if the coral is as flat as it is.
Also the red resitance line at 135 even could become a problem, so I would make sure I am out of it by then.
Nice uptrend (as well as a bounce of it) and bounce of 38% support fib.
Against the 5 min trix? You are really brave.
  • #12,277
  • Jul 24, 2009 7:36am Jul 24, 2009 7:36am
This was a nice trade possibility.

5 min: Bearish divergence and trendline break.

1 min: Indicators give green lights

Unfortunately I made a power nap lol
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  • #12,278
  • Jul 24, 2009 8:27am Jul 24, 2009 8:27am
Hi Guys,

I Trade Om The 5 Min Chart,
Stop Around 18 -22 Pips,
Profit Around The Same.
Below Or Above THE Coral,
All Indicators The Same Colour,
Support Or Resistance Breakouts,
Ascending Triangle or Descending Triangle Breakout.
The Simple Normal Deal,
KISS Works,
I just Make Sure The Traffic Is Moving.
Have A Great Weekend Everyone.
  • #12,279
  • Jul 24, 2009 12:36pm Jul 24, 2009 12:36pm
Quoting MCFly
Hi IP,

what about this kind of trade? The PA bounced from the coral and closed above the Pivot Point. The 1 min fast Trix crossed the slow Trix and both trix on the 5 min tf are above zero. But you can't see a separation between the fast and slow 5 min trix. Too risky or go?
I'm not at my main machine, so I can't reference the time on he chart here to compare to my own charts on a higher TF.

It's your call... I see It worked for you--although be prepared once it does go through that PA more more than likely do a test and it happens so fast [fakeout!] where after going through for 10 pips above the line it only takes a minute to drop back and bounce.

As long as both lines were the same color when it's like that it's OK --if it were me, I would have ridden up to the line [a 5M entry more than likely would have been valid rather than on a 1 seeing as this PA is kinda slow] TP at the line, and waited for confirmation the trend was going to continue, rather than bob around lke a boat on choppy waters.

More often than not this will work in your favor-- once it falls back. while paying the extra spread, you'll have gained more than that pip wise.

Something to consider.

As always, doing some reading in other threads- "Big Boy" traders consider it good to get 500 pips/month [in the black]--not saying how many times they've traded or got S/L

Cencored- trading Fridays are a 50/50 shot. Usually if you can take a look at what happened during the Asian session, that will mirror what will happen later.

Not much happened last night [night for me anyway--as I live in USA] and so the following hours followed suit. A lot of news this week as well--it was time for a breather.
--- Gone --- RIP 11/27/09
  • #12,280
  • Jul 24, 2009 6:49pm Jul 24, 2009 6:49pm
Hi there,

I've been using the PivotsDWM_V6.mq4 indicator and when I try to load a monthly fib and a regular fib on one chart lines seem to go missing. Am I doing something wrong here? I find both the fib pivots and regular ones useful with the THV setup so i'm trying to load both sets of monthly pivots on one chart. Would be greatful if anyone can help.

Thanks
Naj
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