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THV system, final edition

  • #12,461
  • Aug 4, 2009 12:10am Aug 4, 2009 12:10am
I'll work on that after finishing an edit of a trading video for Bemac.

Well, I was afraid that someone says that the apple thingy is too far away from FX (but it's not) and maybe a little too basic but recent PMs showed that some new traders don't have this basic knowledge of how a market works, so I had to start with the Flintstones.

Quoting supremeChaos
wow, a lengthy post all because of a loose screw. i'd pray that u get that screw loosen frequently then.
when is part two due?
  • #12,462
  • Aug 4, 2009 12:32am Aug 4, 2009 12:32am
Quoting cobraforex
I'll work on that after finishing an edit of a trading video for Bemac.

Well, I was afraid that someone says that the apple thingy is too far away from FX (but it's not) and maybe a little too basic but recent PMs showed that some new traders don't have this basic knowledge of how a market works, so I had to start with the Flintstones.
I loved it! Reminded me of grade school when they taught us about money, math, and those supply demand--if Johnny has a surplus of apples he discounts them..once people see everyone's got apples, even more people want apples. Johhny doesn't have enough apples, but since there's demand, he marks up the price..and the people have got to have apples until the price is so high no one wants apples anymore...
at which Johnny got a new load of apples is and gives a little bit of a discount..and so on

Thanks for the memories Mr. C.

--- Gone --- RIP 11/27/09
  • #12,463
  • Aug 4, 2009 12:42am Aug 4, 2009 12:42am
Haha, I was sure it wasn't new for YOU, lol.

Hope your sunday meeting was a nice one.

Quoting IrishPips
I loved it!

Thanks for the memories Mr. C.

  • #12,464
  • Aug 4, 2009 1:32am Aug 4, 2009 1:32am
Remeber the EG trade that I posted yesterday?
Well look what happened.
Nice bounce of the trendline, I put on an trade last night and it moved just as I hoped it would. Good for 20 pips.

(Btw. same with the AU trade, I banked 39 pips).
I hope I was able to underline the significance of trendlines. Don't ever trade without them!

Here is the EG chart. As you can see, we are getting back to that trendline and THV looks like it wants to give us a sell signal soon on the m15. I could play this all day
Attached Image (click to enlarge)
Click to Enlarge Name: 05_au_h1_4_08_2009.gif Size: 29 KB
Trading Makes Money!
  • #12,465
  • Aug 4, 2009 2:28am Aug 4, 2009 2:28am
Quoting Cencored
Remeber the EG trade that I posted yesterday?
Well look what happened.
Nice bounce of the trendline, I put on an trade last night and it moved just as I hoped it would. Good for 20 pips.

(Btw. same with the AU trade, I banked 39 pips).
I hope I was able to underline the significance of trendlines. Don't ever trade without them!

Here is the EG chart. As you can see, we are getting back to that trendline and THV looks like it wants to give us a sell signal soon on the m15. I could play this all day
Hi Cencored

Do you draw your lines manually or do you use an indicator?, demark perhaps.

Cheers mate

Gez.
Seek not to change the world; seek only to change your mind about the world
  • #12,466
  • Edited 3:36am Aug 4, 2009 3:13am | Edited 3:36am
Do you see the difference between the PA in this
screen shot and in the one I posted yesterday?

Really experienced good traders like Cobra and Cashmeer
can trade this THV signals in this kind of PA and still make money,
but if you are a newer trader this kind of PA is more
comfortable to stay out of.
Attached Image (click to enlarge)
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  • #12,467
  • Aug 4, 2009 4:21am Aug 4, 2009 4:21am
An hour later price is back where it was, and daily range hasn't moved a pip.
Attached Image (click to enlarge)
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  • #12,468
  • Aug 4, 2009 5:09am Aug 4, 2009 5:09am
Yes,
Lots Of Great Points There Miss Pips.
Totally Agree, Sucessful Traders Have Simple Rules
& Guidelines.
Once You Have That Down You Need Discipline To Follow It.
Which Is The Test.
Nice Breakout On The EUR/USD Last Night Aussie Time.
I Banked Around 50-55 Pips As Well.
I Also Liked The Point Of Having A Daily Target,
Once Hit Stop Trading,
This Will Stop You Overtrading,
& More Than Likely Trading On Emotions
& Donating Your Pips Back To The Market,
Wise Words.
I Use Cobra In Conjuction With Sniper,
For Confirmation On 1HR & 30 Min Charts.
Wild Week Last Week,
But So Far So Good.
  • #12,469
  • Aug 4, 2009 5:14am Aug 4, 2009 5:14am
And another hour later - price is back where it was two hours ago after the 30m coral blocked a short trade and daily range still hasn't moved a pip.

This is for you McFly - it IS possible to wait all morning and
not get get a safe looking situation to trade in. (Unless you are
really good at THV divergence trades - I'm sure Cashmeer and TraderatHome had a field day today :-).) That's why when you see one of the trending days like yesterday you need to jump on it.
Attached Image (click to enlarge)
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  • #12,470
  • Aug 4, 2009 5:18am Aug 4, 2009 5:18am
Quoting gez40
Hi Cencored

Do you draw your lines manually or do you use an indicator?, demark perhaps.

Cheers mate

Gez.

No indicators, this is manual work. I don't think and indicator can replace what sits between your ears.
Draw them yourself, you will also get a lot more experience this way and a feel for how pa moves.
Trading Makes Money!
  • #12,471
  • Aug 4, 2009 5:20am Aug 4, 2009 5:20am
Quoting MissPips
And another hour later - price is back where it was two hours ago after the 30m coral blocked a short trade and daily range still hasn't moved a pip.

This is for you McFly - it IS possible to wait all morning and
not get get a safe looking situation to trade in. (Unless you are
really good at THV divergence trades - I'm sure Cashmeer and TraderatHome had a field day today :-).) That's why when you see one of the trending days like yesterday you need to jump on it.
Good morning MissPips. Those were some great posts over the past 24 hours. Hope I did not cause you too much extra work. Sorry if I did.

Did not make it up early today, although I did check in at around 0500gmt. Not much going on, so it's gotta pop sometime, huh? H4 is still overbought. This is a day where I try to remember that the trend is up, and then try to get my 5-7 pips (or less) per trade scalping THV M1. With range only at 55 pips currently though, we should see at least one breakout.

Have a good day.
Ed
Up or down, gimme a ticket
  • #12,472
  • Aug 4, 2009 6:13am Aug 4, 2009 6:13am
Thanks. No, since I have decided to limit myself to taking only THV
trades that agree rainbow trend (as defined above) I have nothing to do this morning because there isn't one.

I think what confuses people is that they don't realize that the THV signal says "Analyze Buy" or "Analyze Sell" - not "Buy" or "Sell", and that there are several ways to do the analysis - leading to each person having their own style of trading THV ( or a least to a few different styles.) If someone new tries to follow all the rules for all the different styles they will hardly get a trade in edgewise, but on the other hand they shouldn't just blindly take all trades with no regard for current market conditions. That's why I thought it would be a help to define one style (THV trades with trend only) graphically.

I'm sure Cashmeer or Traderathome could post some lovely trades that they took today based on divergence and trendline breaks while I was sitting on my hands and those would also be good THV trades.

What is best is to able to see which style suits current conditions and trade that one. But for people just starting to use it, I think it's easier to stick to one style and trend trades are the easiest if you have the patience to wait for a trend.

Quoting SpecialEd
Good morning MissPips. Those were some great posts over the past 24 hours. Hope I did not cause you too much extra work. Sorry if I did.

Did not make it up early today, although I did check in at around 0500gmt. Not much going on, so it's gotta pop sometime, huh? H4 is still overbought. This is a day where I try to remember that the trend is up, and then try to get my 5-7 pips (or less) per trade scalping THV M1. With range only at 55 pips currently though, we should see at least one breakout.

Have a good day.
Ed
  • #12,473
  • Aug 4, 2009 6:20am Aug 4, 2009 6:20am
Quoting MissPips
...I think it's easier to stick to one style and trend trades are the easiest if you have the patience to wait for a trend.
I could not agree with you more on the topic of PATIENCE. The times when I have lost the most pips have been when I flirted with various "methods" or "systems" at once, trying to find a trade. Analyzing various timeframes is important to me, so that I have a feel for where price wants to go, or might go today. Then, I use the pitchfork or trendlines to locate potential breakouts or bounces. Then, I let THV M1 say GO. With that all in mind, I have learned the importance of patience.
Up or down, gimme a ticket
  • #12,474
  • Aug 4, 2009 6:33am Aug 4, 2009 6:33am
I was wondering if there was a kind soul out there that could teach an old dog a new trick. I see lots of potential in this system, but I just need to understand it. If anyone is willing to spend a few mins with me I would be forever greatfull. Thanks a million.
  • #12,475
  • Aug 4, 2009 6:52am Aug 4, 2009 6:52am
Quoting Alan_D
I was wondering if there was a kind soul out there that could teach an old dog a new trick. I see lots of potential in this system, but I just need to understand it. If anyone is willing to spend a few mins with me I would be forever greatfull. Thanks a million.

Hi Alan, I suggest you do a lot of reading first, then ask what you did not understand. Put some hours of work in, trust me it is worth it.
We are all happy to help, but for that you need to ask a concrete question.
Trading Makes Money!
  • #12,476
  • Aug 4, 2009 6:54am Aug 4, 2009 6:54am
[quote=MissPips;2928350
I'm sure Cashmeer or Traderathome could post some lovely trades that they took today based on divergence and trendline breaks while I was sitting on my hands and those would also be good THV trades. [/QUOTE]

Thanks for the kind words misspips...

Unfortunately Cashmeer has been flooded with domestic issues and other business related matters these past few trading days and indeed misses all the divergent signals E/U has been giving...

One point I wanted to make is that I do not think that any trader (myself first, and confirmed by Cobra) can say that they started trading live and was consiteltly profitable from the get go.

This all takes time and as was mentioned in the previous post, developing a level of patience and mastering of the emotions is a skill that must be secured.

I cannot count the amount of times where I was up by a certain amount of percentage points, got into a bad trade and then could not control my urge to get my money back, only to be slapped in the face by the market, losing again and again, all the way back to zero and even further....

Strangely enough that kind of trauma made me extremely cautious about the trades I entered and I made my way back to profitability....

I have repeated that scenario over and over again ...

Revenge trading does not work...small consistent steps is what will beat the market, as IP mentioned in one of his first posts...

alternatively, lower your risk amount and get as much screen time in until you are comfortable....

One of the many poignant peices of advice I remember receieiving was from clockwork71 when he basically said that he takes a trade, on higher time frames, with a risk amount whereby he can comfortably walk away from the PC with absolutely no neagtive emotional baggage....he wins or he loses...no big deal...totally relaxed...

Someone esle in here mentioned about very conservative trading and I agree with that. 1/2 of 1 percent for me is comfortable trading...Somtimes I risk less...
Deprive a man of everything and you give him nothing to lose.
  • #12,477
  • Aug 4, 2009 7:05am Aug 4, 2009 7:05am
Thanks folks. I think I might have made my question more clear. I have been at this a while with mixed results. I Have read, but dont understand the rules for one reason or another. I understand indicators very well, but I dont feel as if I understand the rules of the system very well. That is what I need help with. Hope you understand . Thanks in advance for the help. If anyone could Skype me and spend 5 min on the phone it would be a tremendous help. I am harperad. I know this is asking alot, but its how I learn.
  • #12,478
  • Aug 4, 2009 7:15am Aug 4, 2009 7:15am
I thought it would help to show a 'before' and 'after' screen shot of a trend starting.

Once the trend got going, this trade did 20 pips (I am looking for 10) before I even finished documenting it. Normally I like to see a better retrace than at point
2 but since PA was below the 5, 15 and 30 Coral, all the colors of the rainbow were visible at a good angle and there was a nice retrace at 3, and a nice trendline break, I took it
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  • #12,479
  • Aug 4, 2009 7:36am Aug 4, 2009 7:36am
Quoting MissPips
I thought it would help to show a 'before' and 'after' screen shot of a trend starting.

Once the trend got going, this trade did 20 pips (I am looking for 10) before I even finished documenting it. Normally I like to see a better retrace than at point
2 but since PA was below the 5, 15 and 30 Coral, all the colors of the rainbow were visible at a good angle and there was a nice retrace at 3, and a nice trendline break, I took it
Hi Miss Pipps.. I want to thank you, cobra and IrishPips for all your support and help with posts. I took the same trade but at 13:28 so 3 minutes after you and got 10.

I think if people study the charts you post and look at the relationship to the indicators at times of trades they may see more patterns. It took me scratching my head to see why you are taking trades before the fast trix on the 5 minute chart turns colors and now it is starting to make more sense. Thanks to you and Irish and cobra I am getting better.
Without vision, the people will perish.
  • #12,480
  • Edited 7:54am Aug 4, 2009 7:43am | Edited 7:54am
Well, for a 6 point trade I wouldn't do it. But I will also take 'regular' THV trades if they are in the direction of the Rainbow and they look good. This one, PA was bouncing off both the 1 m coral and the blue grey line, which is the 30 m Coral (just as the 15 m trix was crossing), so that's a real classic THV trade on both the 1m and the 15m charts

[quote=bythepound;2928517] It took me scratching my head to see why you are taking trades before the fast trix on the 5 minute chart turns colors and now it is starting to make more sense.
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