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THV system, final edition

  • #14,861
  • Oct 22, 2009 1:04pm Oct 22, 2009 1:04pm
Does any successful traders here completely disregard the suggested Stop Loss by the ATR reading on the M5 chart. The ATR for me is usually between 25-40 during London session if not higher and I simply can't trade with a SL that high because hoping to grab 40-60 pip profit on M5 is kind of wishful thinking most of the time.

Is there a money management ratio anyone goes by that feels is successful for them that I may consider?
  • #14,862
  • Oct 22, 2009 1:13pm Oct 22, 2009 1:13pm
The ATR SL is a suggestion that your SL should be within that value but it's not nessesary to use the complete number.

Just look for a previous high or low, S&R, pivot etc. and set your SL acording to that some pips above for shorts and below for longs.

Quoting decidence
Does any successful traders here completely disregard the suggested Stop Loss by the ATR reading on the M5 chart. The ATR for me is usually between 25-40 during London session if not higher and I simply can't trade with a SL that high because hoping to grab 40-60 pip profit on M5 is kind of wishful thinking most of the time.

Is there a money management ratio anyone goes by that feels is successful for them that I may consider?
  • #14,863
  • Oct 22, 2009 1:43pm Oct 22, 2009 1:43pm
Quoting cobraforex
ICCE is not easy to understand (I'm over 5 month on that) but it helps me on longer term positions in which I usually suck, not because of my entry but the exit, I don't have enough patience yet to hold an order for hours.
Hi.

My AUDCAD counts 62 daily bars now. I could give away some patience if you want .

Stefan.
10 x 100 = 100 x 10, stefx, retired scalper.
  • #14,864
  • Oct 22, 2009 2:07pm Oct 22, 2009 2:07pm
Wow, that puts you in the same cathegory like Jay Walker, congrats.


Quoting stefx
Hi.

My AUDCAD counts 62 daily bars now. I could give away some patience if you want .

Stefan.
  • #14,865
  • Oct 22, 2009 6:43pm Oct 22, 2009 6:43pm
Please read through the manual and understand fully how THV CaveManager works 100%. You are going to use it to manage your trade (your $$$) so it is prudent that you know it inside out.

For your setup, you would focus on "UseTP_By_Batch".

Cheers,
CaveMan

Quoting ricmi
This EA has many parameters and options, I would like an easier set up:
1.profit target = 8 pips
2.profit target = 17 pips
3.profit target = 25 pips
example: when achieving the first target to continue to the second and third. First and eventualy second targets are closed as profit.After 25 pips Trailing Stop is at 75% of current prices.If you can help me,please.
  • #14,866
  • Oct 22, 2009 6:52pm Oct 22, 2009 6:52pm
Decidence,

I trade E/U and most other pairs with a fixed SL of 15. For G/U it is 20 with a good setup. These SL are including spread. TP is most of the time 15 to 20 pips. For G/U it is more. Once or twice a a week, catches a nice ride on big moves and pull in 30 to 40 pips.

The SL I use is very tight and I am not suggesting that you do the same. From my experience using THV, if a trade goes in your favor, it rarely moves beyond even half that stop loss.

Cheers,
CaveMan

Quoting decidence
Does any successful traders here completely disregard the suggested Stop Loss by the ATR reading on the M5 chart. The ATR for me is usually between 25-40 during London session if not higher and I simply can't trade with a SL that high because hoping to grab 40-60 pip profit on M5 is kind of wishful thinking most of the time.

Is there a money management ratio anyone goes by that feels is successful for them that I may consider?
  • #14,867
  • Oct 23, 2009 1:22am Oct 23, 2009 1:22am
When Price Action breaks a Support or Resistance when THV rules are met eg R1,DP or any other line we have determined, when do you enter the trade?

I don't do any trades until rules are met like this, but I'm finding that my win ratio worse than 20%.

Consider the following thv setup (please don't ask for my template). Note that M5 is the largest chart in the shot.

M15, M5 and M1 are shown respectively and the 4 scalping indicators are
red ie below coral, below cloud, fast trix below 0 line and crossed slow trix plus slow trix is red.

1. Do we enter now because all rules are met?

2. Do we have to wait for the current M5 candle to make a lower low than 9 candles back (on M5)?

3. Is Daily Pivot too close to enter?

4. Do we wait for Daily Pivot to be broken and 'retested'.

By the way, what does 'retest' really mean ... break of SR by how much? before it tries to return. How much should it return by ie should it actually touch the SR on the opposite side before continuing?

As I write this, price action just broke the Daily Pivot. Should I have already been in the trade? Should I now wait for a pull back.

Attached Image (click to enlarge)
Click to Enlarge Name: sr entry.gif Size: 42 KB


Attached Image (click to enlarge)
Click to Enlarge Name: sr entry 2.gif Size: 41 KB
  • #14,868
  • Oct 23, 2009 1:33am Oct 23, 2009 1:33am
I entered short at the yellow line (now showing M1 as main chart).

Was this correct? Price action broke through Daily Pivot and is now in middle of pull back.

I moved my stop to break-even (yellow line) ... is this a good way to trade thv?

Would a thv trader now wait for price to make an even lower low (below Daily Pivot) and enter then (if not already) ... or would a thv trader enter now?

EDIT: Or should we exit because we're at 1.5000 big round number? ie not enter a trade until 1.5 is broken and 'retested'

Attached Image (click to enlarge)
Click to Enlarge Name: sr entry 3.gif Size: 36 KB
  • #14,869
  • Oct 23, 2009 1:42am Oct 23, 2009 1:42am
Strat, if you followed what I teached you (MAs and S&R), you would have made a fortune today.

Why these questions?

Quoting stratman

1. Do we enter now because all rules are met?
Attached Image (click to enlarge)
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  • #14,870
  • Oct 23, 2009 1:44am Oct 23, 2009 1:44am
My exit point was prequalified as MS1 or a previous SR line I drew at 1.499 on my analysis chart (not shown here).

Whichever of the two possibilities price starts stalling at, I exit!

Didn't quite make MS1 but started to 'stall' at my SR line (analysis chart). Exited there for +20 pips.

A good trade but did I follow the thv system correctly?

Attached Image (click to enlarge)
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  • #14,871
  • Oct 23, 2009 1:48am Oct 23, 2009 1:48am
Hi Cobra

I guess I'm asking these questions as a way to 'think out aloud' and give others (particularly newbies) an opportunity to understand some of the questions we ask ouselves when chosing to enter and exit a trade.

Sorry if I sounded like a dumbass

EDIT: Would be nice if a few people could give their thoughts on these questions as it confirms whether the general thought processes are the same as mine?

Quoting cobraforex
Strat, if you followed what I teached you (MAs and S&R), you would have made a fortune today.

Why these questions?
  • #14,872
  • Oct 23, 2009 1:58am Oct 23, 2009 1:58am
Cobra, by know you should remember what I taught you a few times.

we ask these questions, indeed, to get the mindset right of the newbies to the system
  • #14,873
  • Oct 23, 2009 2:11am Oct 23, 2009 2:11am
Hi my dutch friend.

An update to that chart. no more easy thing to make some pips, isn't it?

Just look at higher TF and get those pips in 1M.


Quoting Freddyfx
Cobra, by know you should remember what I taught you a few times.

we ask these questions, indeed, to get the mindset right of the newbies to the system
Attached Image (click to enlarge)
Click to Enlarge Name: thv4 release58.gif Size: 29 KB
  • #14,874
  • Oct 23, 2009 2:20am Oct 23, 2009 2:20am
The summary of my last trade example is that THV must be used with good analysis of Support and Resistance.

I'm not an expert at analysis but getting better. As well as the channel that Cobra has on his chart, I show you here my SR lines ...

This was my analysis (it was created before the trade!) As you can see I exited right at the bottom of the pin-bar ... please note that this was not luck, this was my expectation.

EDIT: Also note how price respected that support line (bottom of pin bar) and then the resistance (the pin on the next bar).

Attached Image (click to enlarge)
Click to Enlarge Name: analysis.jpg Size: 138 KB
  • #14,875
  • Oct 23, 2009 2:25am Oct 23, 2009 2:25am
Sorry Strat, I'm in really bad mood tonight, this site is getting out of order.

http://www.forexfactory.com/showthre...193996&page=94

I think I'm going back to my cave for a while.
  • #14,876
  • Oct 23, 2009 2:37am Oct 23, 2009 2:37am
Just read a little about 801.

Cobra, I have been a programmer for nearly 30 years (before PC's) and every day I am willing to learn something new about programming ... I read (and re-read) manuals all the time.

I can't believe that tosser ... what an idiot "I don't learn mql4 anymore. I know everything I need to know in order to be satisfied"

I'll probably get banned if I say what I really want to

strat


Quoting cobraforex
Sorry Strat, I'm in really bad mood tonight, this site is getting out of order
  • #14,877
  • Oct 23, 2009 2:45am Oct 23, 2009 2:45am
I don't understand that the mods ban a member to the commercial section who has absolutely nothing to sell other than google adds which you find everywhere in the net and this ignorant is free to post his advertising where he wants.

I reported that sucker to Twee but he's still there, where the hell is the quality of this site?

I'll be back soon, maybe, but this really pissed me off.


Quoting stratman
Just read a little about 801.

Cobra, I have been a programmer for nearly 30 years (before PC's) and every day I am willing to learn something new about programming ... I read (and re-read) manuals all the time.

I can't believe that tosser ... what an idiot "I don't learn mql4 anymore. I know everything I need to know in order to be satisfied"

I'll probably get banned if I say what I really want to

strat
  • #14,878
  • Oct 23, 2009 3:09am Oct 23, 2009 3:09am
I hope people remembered not to trade during news ... if you were long ... the consequences would have been BAD!

Attached Image (click to enlarge)
Click to Enlarge Name: news.gif Size: 33 KB
  • #14,879
  • Oct 23, 2009 4:09am Oct 23, 2009 4:09am
Quoting cobraforex
I don't understand that the mods ban a member to the commercial section who has absolutely nothing to sell other than google adds which you find everywhere in the net and this ignorant is free to post his advertising where he wants.

I reported that sucker to Twee but he's still there, where the hell is the quality of this site?

I'll be back soon, maybe, but this really pissed me off.
There is no justice here, Cobra. I was "listed" as a Senior Member until someone complained about me posting what I thought of the Asian trading session because of the way the big guns there move PA radically, and on little volume.....I had a few choice words about those traders that are somehow able to hump and pump the prices on fumes! The result was...I am no longer a "Senior Member"......shit, like BIG DEAL!!!!!!

But I responded to Twee's unjust actions on the basis that the accusations were erroneous (which they were). You know what Twee's reply was? ......it doesn't matter, in two months curfew will be over!!!!!

He is playing God, with the brains of a retard....imho.
  • #14,880
  • Oct 23, 2009 6:25am Oct 23, 2009 6:25am
Quoting stratman
I hope people remembered not to trade during news ... if you were long ... the consequences would have been BAD!

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