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THV system, final edition

  • #13,381
  • Sep 23, 2009 11:10pm Sep 23, 2009 11:10pm
There is plenty of time to sleep if one is dead, gonna have a small nap after the London session or when book is filled.

Quoting TradeWell

Darn Cobra you beat me to it. Shouldn't you be sleeping? lol
  • #13,382
  • Sep 23, 2009 11:16pm Sep 23, 2009 11:16pm
Quoting stratman
Got out for 45 Pips when Price hit a confluence of Big Round Number (91.000), trendline support and MS1.

My trade is the Thick Yellow line
But here's the thing: if that big resistance DOES get broken, it could mean a big break to the next s/r. You don't really have risk because you are in so many pips. You could set a reasonable stop above it and if hit, only a few pips are lost. If the move continues, high reward relative to risk.

I don't mean to tell you how to trade - just passing along some ideas.
  • #13,383
  • Sep 23, 2009 11:19pm Sep 23, 2009 11:19pm
Quoting stratman
Now looking at the 4 hr, I got out of my short on support at around the 23.6 Fib (also MS1).

If break through here, looking for retest of 23.6 Fib and continuation of short but entry confirmation via THV M5/M1

EDIT: Because PA fell through 91.000, would we expect a test on it as Resistance now?
So if you take my last post, then consider:

Price breaks the strong support, retests it, then you enter AGAIN, still holding your original trade, setting your stop just above the new resistance. A SL hit means very little pips lost, while a further drop DOUBLES your pip gain (from the point of the second entry).
  • #13,384
  • Sep 23, 2009 11:21pm Sep 23, 2009 11:21pm
Quoting cobraforex
There is plenty of time to sleep if one is dead, gonna have a small nap after the London session or when book is filled.
Sometimes I feel dead if I didn't get enough sleep. lol
  • #13,385
  • Sep 23, 2009 11:30pm Sep 23, 2009 11:30pm
Well said, TW. Not many retail traders scale up or into profitable positions. Most will scale down or out.

Institutional traders are trained to scale up and into profitable positions to maximize profit on the trend they caught with profits from the initial lots.

We should all train our minds to think and trade like a professional institutional trader. A retail trader with an institutional mindset. It will do us a lot of good .... lol ....

Quoting TradeWell
So if you take my last post, then consider:

Price breaks the strong support, retests it, then you enter AGAIN, still holding your original trade, setting your stop just above the new resistance. A SL hit means very little pips lost, while a further drop DOUBLES your pip gain (from the point of the second entry).
  • #13,386
  • Sep 23, 2009 11:32pm Sep 23, 2009 11:32pm
Man! I was up the whole night (I am in this side of the globe) through into the US session and the big moves started just after I went to bed ....

Quoting TradeWell
Sometimes I feel dead if I didn't get enough sleep. lol
  • #13,387
  • Sep 23, 2009 11:43pm Sep 23, 2009 11:43pm
Quoting caveman
Man! I was up the whole night (I am in this side of the globe) through into the US session and the big moves started just after I went to bed ....
I can't do that anymore. Maybe in my younger days I could. I feel like crap and can't think right if I stay up too long.

I didn't trade at all today, given the news. Anyway, I am mostly trading H4 or H8 for now.
  • #13,388
  • Sep 23, 2009 11:52pm Sep 23, 2009 11:52pm
Quoting TradeWell
So if you take my last post, then consider:

Price breaks the strong support, retests it, then you enter AGAIN, still holding your original trade, setting your stop just above the new resistance. A SL hit means very little pips lost, while a further drop DOUBLES your pip gain (from the point of the second entry).
I agree. That's what I did when it retraced back to DP and Fib 38.2

I was scared of leaving too much on the table to let it retrace again. On my previous live accounts, I didn't take profit when it was there and so had many profitable trades end up being non-profitable.

Still learning heaps ... but pleased for your input. I have to find a good balance between making sure I don't let good trades (in profit) end up stopped out for a loss and allowing really, really good trades to run to make more profit.
  • #13,389
  • Sep 23, 2009 11:56pm Sep 23, 2009 11:56pm
I decided to try again as discussed. I'm finding that I'm starting to pick good entries but now struggling with exits. My current entry was based on retracement to 91.000 (round number).

Can someone give me some advice on my current short trade:
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  • #13,390
  • Sep 24, 2009 12:02am Sep 24, 2009 12:02am
Quoting stratman
...
Can someone give me some advice on my current short trade:
If you take into account all the pips you made on this move already, a new entry is not putting you into much risk, especially with a tight SL. Just take into account what I said earlier, and make sure you decide on a plan BEFORE it gets to a decision point.
  • #13,391
  • Sep 24, 2009 12:12am Sep 24, 2009 12:12am
anyone able to tell me why I keep getting this error spam when using some of the THV indicators?

Thanks
James
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  • #13,392
  • Sep 24, 2009 12:21am Sep 24, 2009 12:21am
Quoting proverbs
anyone able to tell me why I keep getting this error spam when using some of the THV indicators?

Thanks
James
Hello James,

I asked the same some postings before ... there you can find the answer

http://www.forexfactory.com/showpost...ostcount=12991

greetings from here,
DL4HAO (Dietmar)
  • #13,393
  • Sep 24, 2009 12:32am Sep 24, 2009 12:32am
Quoting caveman
Well said, TW. Not many retail traders scale up or into profitable positions. Most will scale down or out.

Institutional traders are trained to scale up and into profitable positions to maximize profit on the trend they caught with profits from the initial lots.

We should all train our minds to think and trade like a professional institutional trader. A retail trader with an institutional mindset. It will do us a lot of good .... lol ....
Is this what you mean ... I added another position of the same amount and moved my SL to half way ... so free trade?
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  • #13,394
  • Sep 24, 2009 12:50am Sep 24, 2009 12:50am
Quoting stratman
Is this what you mean ... I added another position of the same amount and moved my SL to half way ... so free trade?
That's the general idea. But you have to decide what's right for you. Less risky is a closer SL, like just above the last swing high. Again, choose and be consistent.

Bye for now. I'm out until later.
  • #13,395
  • Sep 24, 2009 2:29am Sep 24, 2009 2:29am
This was like fishing with a machine gun....

PA was exhausted, obviously from the long run down...

1st trade:

Considerations:
1.) Bounce at 133.50 good for 20 pips...

2nd Trade:

Considerations:
1.) 15 min Bullish Divergence and Bounce and MS4
2.) 5 Min Bullish Divergence...
3.) 1 Min Bullish Divergence...

and that's all she wrote !
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Deprive a man of everything and you give him nothing to lose.
  • #13,396
  • Sep 24, 2009 2:46am Sep 24, 2009 2:46am
EU: Daily pivot withstood assault by asian traders. And it seems to be holding its own against the FO and LO traders. After yesterdays extreme whipsaw with sellers piling on at the highs, driving it back down, and now that there appears again to be mostly volume at the highs, I am anxious to see of PA begins to capitulate. There have been dramatic moves on other pairs, but so far this pair is being stubborn......

It may be worth keeping an eye on. If it starts to drop, it may turn out to be as good, maybe even better that some of the dramatic runs on other pairs. (Or maybe not....let the market decide.)
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  • #13,397
  • Sep 24, 2009 2:59am Sep 24, 2009 2:59am
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
Quoting stratman
Read this THV thread back a few posts ... I posted there
I've found the indiator.It is here:
http://www.forexfactory.com/showthre...0372&page=9705

Thank You, Stratman.
Megara.
Shake it off!Lick the Wound,Prey Again!
  • #13,398
  • Sep 24, 2009 3:06am Sep 24, 2009 3:06am
Quoting stratman
Is this what you mean ... I added another position of the same amount and moved my SL to half way ... so free trade?
Stratman, your chart in this post shows your MiniChart situated in a chart sub-window. Yet the external inputs window for your indy provides no window selection. How do we get the same display you are demonstrating?
  • #13,399
  • Sep 24, 2009 3:19am Sep 24, 2009 3:19am
Are you using the MTF histograms? If so, please see post 13017.

Quoting proverbs
anyone able to tell me why I keep getting this error spam when using some of the THV indicators?

Thanks
James
  • #13,400
  • Sep 24, 2009 5:14am Sep 24, 2009 5:14am
Well, I re-entered the USDJPY and made another +33 Pips.

That's a total of +78 for today ... all during the Asian session.

My trade in Yellow on pic.
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