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THV system, final edition

  • #12,301
  • Jul 27, 2009 6:20am Jul 27, 2009 6:20am
Not too bad this morning, EJ was dropping off nice pips.
Here is a good reason to always draw trendlines, draw lots of them. I believe they are a key factor in your trading success.
An example from today:
Strong break of 4hr trendline (going back weeks), great probability that it will head further north for a while (be aware of retests, as you can see on the 2nd chart, the fat white line (which is the 4hr t/l again) got retested several times, before it was accepted as a strong support line.

Switch to your THV chart and look for long entires. I marked out a few on the 2nd chart.
Every trade that I marked out was worth about 10-15 pips...
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Trading Makes Money!
  • #12,302
  • Jul 27, 2009 7:54am Jul 27, 2009 7:54am
Today till now it was a very good day. Good trends and alot of possibilities. I think I will learn a bit more about volume trading and vsa. Maybe it's a usefull addition to this system.
  • #12,303
  • Jul 27, 2009 10:27am Jul 27, 2009 10:27am
The problem in volume trading is that you need the right datafeed for it.

If you use the volume data of your broker you won't be very happy with it, that's the reason why I don't use volume.

One add and that's for all: Try to work more on yourself than on the system, THV has what you need in technical trading if you understand S&R, Fibs and Pivots. You really don't need more to get your portfolio filled.
Read books like Trading in the zone and The disciplinated Trader, that is worth the time and bucks.

Quoting MCFly
Today till now it was a very good day. Good trends and alot of possibilities. I think I will learn a bit more about volume trading and vsa. Maybe it's a usefull addition to this system.
  • #12,304
  • Jul 27, 2009 10:30am Jul 27, 2009 10:30am
I would like to get the input of others on these two entries.

Why I took the trade #1 at 6:18 am PST:

5M chart – PA opening under MR2, under the Coral, and under my trend line. Slow Trix was red and under 0.0, and I took the trade (using the 1M for timing) when the fast Trix turned red. Did the trade fail because the fast Trix was still above the slow on the 5M?

While the trade ultimately ran for plus 10 pips, I actually lost 5 pips because it looked as if the trade would fail – I did not hit a stop.

Should I have taken trade #2 based on the same rules – 7:14 am PST?
It seems that more often than not, when the fast Trix is on top of the slow Trix, these trades seem to not work out, but in the case of trade #2, it did.

SHOULD I WAIT for the fast Trix color change to occur UNDER the slow Trix in these cases???

Thanks
Dan
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Without vision, the people will perish.
  • #12,305
  • Jul 27, 2009 10:40am Jul 27, 2009 10:40am
Trade 1:Fast trix is green

Trade 2: Fast trix is in oversold area.

We are in summer holliday and the PA is very slow and choppy during this time, better trade 5M with Pivots and historical S&R or switch to E/Y.

Trading 1M pure mechanical will not result very well.

BTP: when you take a screenshot, please don't zoom in like in the 5M, it makes me difficult to read the chart, thanks.


Quoting bythepound
I would like to get the input of others on these two entries.

Why I took the trade #1 at 6:18 am PST:

5M chart – PA opening under MR2, under the Coral, and under my trend line. Slow Trix was red and under 0.0, and I took the trade (using the 1M for timing) when the fast Trix turned red. Did the trade fail because the fast Trix was still above the slow on the 5M?

[size=3][font=Calibri]While the trade ultimately ran for plus 10...
  • #12,306
  • Jul 27, 2009 11:27am Jul 27, 2009 11:27am
Here might be a good trading chance if the TL gets broken, you see divergence on psych level 00 which was good for fast 12 pips.
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  • #12,307
  • Jul 27, 2009 11:32am Jul 27, 2009 11:32am
Hi Cobra,

I see your points below and thanks for the suggestions.

I still need clarification though. Let’s assume all THV rules are met on the 1M chart. If the 5M chart looks like it does at points 1 and 2 shown in the image, could one take a trade on the 1M chart? OR – should the fast Trix be below the slow Trix with a fresh fast Trix color change as shown at point #3?

The focus of my question is the 5M Trix condition shown, not other conditions such as pivots, market conditions, S&R, etc.


Thanks

Quoting cobraforex
Trade 1:Fast trix is green

Trade 2: Fast trix is in oversold area.

We are in summer holliday and the PA is very slow and choppy during this time, better trade 5M with Pivots and historical S&R or switch to E/Y.

Trading 1M pure mechanical will not result very well.

BTP: when you take a screenshot, please don't zoom in like in the 5M, it makes me difficult to read the chart, thanks.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2.jpg Size: 155 KB
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Without vision, the people will perish.
  • #12,308
  • Jul 27, 2009 11:39am Jul 27, 2009 11:39am
Quoting cobraforex
The problem in volume trading is that you need the right datafeed for it.

If you use the volume data of your broker you won't be very happy with it, that's the reason why I don't use volume.

One add and that's for all: Try to work more on yourself than on the system, THV has what you need in technical trading if you understand S&R, Fibs and Pivots. You really don't need more to get your portfolio filled.
Read books like Trading in the zone and The disciplinated Trader, that is worth the time and bucks.
Hi Cobra,

normally I would say volume trading doesn't make sense in the forex market because there is no centralized volume source. But it seems that even with this disadvantage you can trade the limited volume information of a single broker together with the PA spread. That's the opinion of the guys from the vsa thread.

You are absolutely right when you say that the success of a trading system depends on the attitude of a trader. The more disciplinated he is the more pips he will earn. But on the other hand the more information you can get about the PA and the trends the more confident you are. When you are confident it's easier to be disciplinated.

Sry for my poor english skills. Why can't we force all members to speak german here.
  • #12,309
  • Jul 27, 2009 11:53am Jul 27, 2009 11:53am
I don't see only the trix conditions, I'm focused to S&R together with them, even better with divergence, that makes them A+ trades.

If I would trade only the trix I would like to see the fast trix below the slow for a short.

I would have taken trade 2 (retest of MR2) but trade 3 was very risky due to the DP which was in the way.

Quoting bythepound
Hi Cobra,

I see your points below and thanks for the suggestions.

I still need clarification though. Let’s assume all THV rules are met on the 1M chart. If the 5M chart looks like it does at points 1 and 2 shown in the image, could one take a trade on the 1M chart? OR – should the fast Trix be below the slow Trix with a fresh fast Trix color change as shown at point #3?

[color=black][font=Verdana]The focus...
  • #12,310
  • Jul 27, 2009 11:57am Jul 27, 2009 11:57am
Well, if you feel good with the volume data is OK, I don't.

I don't like to rely on an indication which is resonable questionated.

There are other volume datas which are relyable but it's not my way to trade.

Zumindest Cobra kann deutsch sprechen und schreiben aber ist nicht ratsam weil andere mit faulen Eiern werfen wuerden.


Quoting MCFly
Hi Cobra,

normally I would say volume trading doesn't make sense in the forex market because there is no centralized volume source. But it seems that even with this disadvantage you can trade the limited volume information of a single broker together with the PA spread. That's the opinion of the guys from the vsa thread.

You are absolutely right when you say that the success of a trading system depends on the attitude of a trader. The more disciplinated he is the more pips he will earn. But on the other hand the more information you can get about...
  • #12,311
  • Jul 27, 2009 11:59am Jul 27, 2009 11:59am
Hi All,
why does not work for me THV3 MTF Trix (5) indicator?
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  • #12,312
  • Jul 27, 2009 12:00pm Jul 27, 2009 12:00pm
Yep - I agree. Thanks for the help.

Dan
Quoting cobraforex
I don't see only the trix conditions, I'm focused to S&R together with them, even better with divergence, that makes them A+ trades.

If I would trade only the trix I would like to see the fast trix below the slow for a short.

I would have taken trade 2 (retest of MR2) but trade 3 was very risky due to the DP which was in the way.
Without vision, the people will perish.
  • #12,313
  • Jul 27, 2009 12:04pm Jul 27, 2009 12:04pm
The MTF indis are not stand alone indicators, they call other ones which need to be in the indicator folders.

Take care that you downloaded and pasted them in the right folder.

One day we gonna post an exe installation, with that everything will be where it suppose to be.

It was planned some time ago but always something crossed my way (lot of work outside of FX)


Quoting Zonk277
Hi All,
why does not work for me THV3 MTF Trix (5) indicator?
  • #12,314
  • Jul 27, 2009 12:13pm Jul 27, 2009 12:13pm
I TP on 26 now, time for a nap, enough is enough.

See you folks.

Quoting cobraforex
Here might be a good trading chance if the TL gets broken, you see divergence on psych level 00 which was good for fast 12 pips.
  • #12,315
  • Jul 27, 2009 1:15pm Jul 27, 2009 1:15pm
Quoting cobraforex
I don't see only the trix conditions, I'm focused to S&R together with them, even better with divergence, that makes them A+ trades.

If I would trade only the trix I would like to see the fast trix below the slow for a short.

I would have taken trade 2 (retest of MR2) but trade 3 was very risky due to the DP which was in the way.
hi cobra! glad to see u here
with stop and reverse levels do you mean MR, R, MS ?

with sdx indicator, i set the firsst gmt at +1 cause i'm with alpari
and what about the second value? my trading day starts at london open..
  • #12,316
  • Jul 27, 2009 2:31pm Jul 27, 2009 2:31pm
Hi Pattinatore, yes but they get really strong when they come together with historical S&R on higher TF's or Fibs.

To the sdx I think it's ok if you leave the second value in 0, I use ODL for charts and don't need any changes.

Quoting pattinatore
hi cobra! glad to see u here
with stop and reverse levels do you mean MR, R, MS ?

with sdx indicator, i set the firsst gmt at +1 cause i'm with alpari
and what about the second value? my trading day starts at london open..
  • #12,317
  • Jul 27, 2009 2:37pm Jul 27, 2009 2:37pm
Quoting pattinatore
with sdx indicator, i set the firsst gmt at +1 cause i'm with alpari
and what about the second value? my trading day starts at london open..
I think to be absolutely correct you use 2,1 during summer time and 1,0 during winter time, as Alpari is GMT +1 winter and GMT +2 summer - however there is so little difference between 2,1 and 1,0 you can probably forget the summer time correction.
  • #12,318
  • Jul 27, 2009 4:19pm Jul 27, 2009 4:19pm
Quoting macman
I think to be absolutely correct you use 2,1 during summer time and 1,0 during winter time, as Alpari is GMT +1 winter and GMT +2 summer - however there is so little difference between 2,1 and 1,0 you can probably forget the summer time correction.
Thx to you and also to' cobra.. I'll pay more attention at those levels
  • #12,319
  • Jul 27, 2009 6:32pm Jul 27, 2009 6:32pm
Hi Bobkat:

Creating an image on metatrader: on the program 1) click on file. 2) Next click on save as picture. 3) Then select active chart (as is). 4) Enter a name for the image.

Uploading images on forex factory: 1) click on post reply. 2) On "Thread Options" click "Manage Attachments". 3) Click on Browse to find your image on your PC. 4) Click on "Upload". 5)Finally, click on "Submit Reply".

Hope this helps.


Quoting bobkat30
http://www.forexfactory.com/attachme...1&d=1248672919

Hi Everyone,
I'm A Beginner At Attachments,
If Anyone Could Give Some Pointers,
Much Appreciated.
You Can See I Entered The Trade Short,
On Breach Of 1.41945,
I HAd A 20 pip T/P,
20 Pip S/L & A 80 Pip Trailing Which i Always
Use In Case Of Retracements.
I Ended Up Hitting The Trailing Stop 8 Pips,
ITM - In the Money.
+ Pips Are + Pips,
& Definately Better Than Minus Pips.
  • #12,320
  • Jul 27, 2009 11:10pm Jul 27, 2009 11:10pm
Simple system will normally make more pipd than complicated system which consisting of many indicators
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