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THV system, final edition

  • #14,521
  • Edited 8:36am Oct 12, 2009 8:12am | Edited 8:36am
Quoting colombino
Hi, Mihailo,

your results look great, almost incredible. Actually you are trading even better then Cobra does.
I would like to know your checklist before opening a trade, at least your checklist for the trix - which criteria should trix meet (crossing, color, relation to slow trix and on which timeframes should these criteria be fullfiled.

Thanks:-)
Hi man,

I'm just strictly following the rules from post #1, and I'm not using stop los, just waiting to take profit anyway. I'm doing it only when higher TF confirm trend and respect fibbs and S&R levels. It is very easy to do that in last few weeks because we do not have a trend. PA is going around 150 pips whatever direction You choose it will be positive. Sometimes my trade last for few days. I describe it few posts ago.

This is NOT RECOMMENDED to other traders.

Good luck.
  • #14,522
  • Oct 12, 2009 8:48am Oct 12, 2009 8:48am
Also some holiday in Canada and Asia so all markets seem extremely slow. Could still pick up a few pips here and there though.

Quoting Joeyd
It's a Bank Holiday here in U.S. It will be slow all day.
  • #14,523
  • Oct 12, 2009 8:50am Oct 12, 2009 8:50am
Hi Stratman
Nice job on presenting your trades with the screen shots of the set ups in the different time frames, it makes it look so easy. I have a question as to in what time period do you like to trade, (London, NY)?

I have been doing a lot of reading on this thread for quite some time now and I believe I have found a system that I can use with success. Being I am on CDT and work days I find myself getting up in the early morning hours if I want to trade the most active time frame. Hopefully soon I will be retireing so it should be easier to trade the right time period.

Many thanks to Cobra and all the others who have given so much of their expertise.

Thanks

Gene
  • #14,524
  • Edited 9:37am Oct 12, 2009 9:06am | Edited 9:37am
London session is where all the action happens anyway, plenty to be made on E/U so far. 5min rules according to THV manual (also Decidence's trade plan). Draw a trendline connecting the last two highs and you have a good place to exit the second trade (not shown).

Second pic is a quick +22 on the 5 minute chart.

- Divergence and trendline broken. Slow 15min trix is red which is giving me a clue a short may be coming up.
- At this point i'm just waiting for a candle to close below cloud then for price to pass trix. Entered a little late because I was distracted.

http://i288.photobucket.com/albums/l.../EUTODAY-1.jpg

http://i288.photobucket.com/albums/l.../GUTODAY-2.jpg
  • #14,525
  • Oct 12, 2009 9:33am Oct 12, 2009 9:33am
Quoting Ramadas
Thank you Cobra and whole team for this super system!

Could someone tell me what I did wrong with this entry?
Thanks!

http://i614.photobucket.com/albums/t...what-wrong.png
Hy Ramadas,

1st: respect support/resistance lines
2nd: follow the THV-Rules

greetings,
DL4HAO (Dietmar)
  • #14,526
  • Oct 12, 2009 10:48am Oct 12, 2009 10:48am
This was my last trade for today, rejection from MR3, I took it without any confirmation more than a second retest on 1M and 5M divergence.

The USDCHF was testing the lower part of the range that was another good reason to take that trade.

I had one loser, will post that one later
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  • #14,527
  • Oct 12, 2009 10:56am Oct 12, 2009 10:56am
Quoting gmcl02
Also some holiday in Canada and Asia so all markets seem extremely slow. Could still pick up a few pips here and there though.
Yeh! Manage to pluck about 40 pips though.
  • #14,528
  • Oct 12, 2009 10:57am Oct 12, 2009 10:57am
The red box shows my loser but I had good reasons to take that short trade, was bounce of R1, also S&R of 4H chart and it would have confirmed what I was awaiting, an H&S formtion on 4H but the market had his own head like always and I had to take the loss, that's part of the biz.
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  • #14,529
  • Oct 12, 2009 11:08am Oct 12, 2009 11:08am
That was a double buttom, no more than break of the cloud is needed for that kind of trade.

If we only look for Trix, cloud and coral we will miss a lot of good oportunities in ranging markets like Strat said. The problem for newbees is how to trigger a ranging market and that you see only with enough experience.

This is one of the reasons why I only trade the E/U during the London session, mostly it has a good trending market which allow us to trade the rules.





Quoting ab1

Do we wait for the candle to close above the coral. In this picture it is above but not closed ?
  • #14,530
  • Oct 12, 2009 11:22am Oct 12, 2009 11:22am
It's not my pair but in this case see that PA was only some pips away from S2, a break of it would be a good entry, even better with a retest.

This looked like a bear flag but wasn't confirmed.

With other words, NO.

Try to get more focussed on S&R, that helps a lot.

Quoting ab1
Ok This example of the GBPUSD, we had a nice 100+ pips short trade before, its retraced to the coral and has now broken throught the cloud & closed below. The trix is all red and past the zero line. The H1 is showning Down as well.

So this is a good entry....YES or NO ..please
  • #14,531
  • Edited 1:28pm Oct 12, 2009 11:25am | Edited 1:28pm
Quoting dl4hao
Hy Ramadas,

1st: respect support/resistance lines
2nd: follow the THV-Rules

greetings,
DL4HAO (Dietmar)
Thank you for the reply:
1. OK, I got it - it was S2
2. I followed the THV - under coral, under cloud, two trixes red and down. That's why I am asking....

No system is perfect. I will take it as a business loss.
Cut short your losses. Let your profits run on. David Ricardo (1772-1823)
  • #14,532
  • Oct 12, 2009 11:55am Oct 12, 2009 11:55am
Quoting cobraforex
The red box shows my loser but I had good reasons to take that short trade, was bounce of R1, also S&R of 4H chart and it would have confirmed what I was awaiting, an H&S formtion on 4H but the market had his own head like always and I had to take the loss, that's part of the biz.
Hai Cobra,
Your R1 is different with mine and when check with this site http://www.livecharts.co.uk/Members/...rex_pivots.php mine is correct, I think that's why you lose on that post
  • #14,533
  • Oct 12, 2009 12:12pm Oct 12, 2009 12:12pm
I use another Pivot calculation since years and I'm very happy with that, just watch the chart.

This was a bad trade, rules have been met, which I cover within my MM, it's no problem at all.

Quoting sempoi
Hai Cobra,
Your R1 is different with mine and when check with this site http://www.livecharts.co.uk/Members/...rex_pivots.php mine is correct, I think that's why you lose on that post
Attached Image (click to enlarge)
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  • #14,534
  • Oct 12, 2009 1:56pm Oct 12, 2009 1:56pm
Price was getting close to a resistance line I had previously drawn ... look at my analysis chart on that post ... plus 28 pips is a damn good trade when your scalping ... don't leave it on the table

I also use usdchf S/R lines to give me ideas on where price may stall.

Quoting Mindsphere
Some nice trades there Stratman. I noticed that trend breakout on the EURUSD too, unfortunately I don't have enough time to trade over the next couple of weeks. I will have to live vicariously through your excellent trading

I'm curious what your criteria for exiting that trade was? Did you see the PA slow down and so try and pick the exit? Oh and have you given any thought to scaling out of trades as a variation?
  • #14,535
  • Oct 12, 2009 2:14pm Oct 12, 2009 2:14pm
Its not a question of what session I like to trade. Let me explain.

I would prefer to trade the London/US crossover (higher volume) but this occurs in the middle of the night for me (I live in New Zealand). IMHO higher volume means higher probability of S/R and pivot points being respected.

I trade typically GMT 00:00 through to 10:00 ie Asian session and London open. I would consider trading EURJPY (like cobra) for Asian session and EURUSD for London. Yesterday was Japan holiday, so only traded EU.

Please don't see this as a recommendation ... it is what I do because of my locality and current understanding (I have only been trading live for a few days)

cheers
stratman

Quoting seller9
Hi Stratman
Nice job on presenting your trades with the screen shots of the set ups in the different time frames, it makes it look so easy. I have a question as to in what time period do you like to trade, (London, NY)?

I have been doing a lot of reading on this thread for quite some time now and I believe I have found a system that I can use with success. Being I am on CDT and work days I find myself getting up in the early morning hours if I want to trade the most active time frame. Hopefully soon I will be retireing so it should be easier to...
  • #14,536
  • Oct 12, 2009 2:37pm Oct 12, 2009 2:37pm
Thank you Stratman for your input on the hours you trade and why. My problem is it seems the best hours are very early in the morning. I found some results of some studies done with different pairs and using those numbers I wrote a program with a clock that can be set to local time or GMT and depending on the day of the week shows the best times and pairs to trade according to the study that was done. The forex experts already have this info in their head, but I am still learning and need all the help I can get. I just finished the program over the weekend so I have yet to try it out, but it shows the best times and highest volume times according to the study done and the clock shows where you are at as far as day of week and time, as it varies from day to day and hour to hour. Hopefully it will help me learn the best times and days to trade until it becomes second nature.

Thanks for the info

Gene
  • #14,537
  • Oct 12, 2009 3:02pm Oct 12, 2009 3:02pm
What's the bad on that?

At night you have less distractions (Telephone calls, kids, custumer meetings and noises)

The London session starts at 2 AM my time. If I want to trade I have to get my a$$ awake and get a nap before or after.

Quoting stratman
I would prefer to trade the London/US crossover (higher volume) but this occurs in the middle of the night for me (I live in New Zealand).
  • #14,538
  • Oct 12, 2009 3:52pm Oct 12, 2009 3:52pm
Right on , Cobra.

Let the community know how we need to suffer to work the London session.

Hours at the pc when others dream about nice things, lol.
  • #14,539
  • Oct 12, 2009 4:49pm Oct 12, 2009 4:49pm
Mrs Strat is not convinced Forex is going to be successful ... I've had 3 attempts at it since 2005 and failed every time.

Currently I'm in a situation where she doesn't mind me 'playing' with the markets during our daytime, but I'm not to let it impact on family ie I'm not to sleep during the day!

I'm still doing ok ... 58 pips is pretty good?


Quoting cobraforex
What's the bad on that?

At night you have less distractions (Telephone calls, kids, custumer meetings and noises)

The London session starts at 2 AM my time. If I want to trade I have to get my a$$ awake and get a nap before or after.
  • #14,540
  • Oct 12, 2009 4:57pm Oct 12, 2009 4:57pm
Mrs. Strat will understand if your results will be constantly like they are at the moment. Mrs. Cobra was thinking the same at the beginning.

BTW: Better trade only 3 hours London session on E/U than babysitting the screens 10 hours while PA is .

Quoting stratman
Mrs Strat is not convinced Forex is going to be successful ... I've had 3 attempts at it since 2005 and failed every time.

Currently I'm in a situation where she doesn't mind me 'playing' with the markets during our daytime, but I'm not to let it impact on family ie I'm not to sleep during the day!

I'm still doing ok ... 58 pips is pretty good?
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