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THV system, final edition

  • #15,141
  • Nov 4, 2009 10:59am Nov 4, 2009 10:59am
Quoting cobraforex
I have the same value
my MPV is 4551?? using FXDD right now

@@
  • #15,142
  • Nov 4, 2009 12:05pm Nov 4, 2009 12:05pm
With regard taking pips profit ... IMHO take whatever you get given ie don't leave it on the table!!!

You might be out for as low as 2-3 pips and tipically 10-20 pips. While I'm learning, I take what the market offers me .... so if I see it reversing on me I take my profit immediately and wait for the next opportunity. If a good setup starts losing, I'm out ASAP .... I don't wait for a stoploss of 3 x ATR.

Sometimes, you might get the full distance between support/resistance and medium support/resistance (today approx 30 pips) per trade. Due to the physicological aspects of our nature, this is unlikely though.

hope this helps.

Regard brokers, there's a problem here at FF if one mentions anything that can be construed as an advertisement for a commercial entity. So I wont mention the name of mine ... but look for one with a very small spread (mine has a spread of 0.9 pips on EURUSD )


Quoting Brfx
Hello
I am beginner in the forex was reading this thread and it is very good system but I have some doubts and it would like your answer if possible.
Is there a minimum pips to do scalp or a minimum time to take pips?
Which the best broker to do scalp, tax, requotes etc.?

Thankful
  • #15,143
  • Nov 4, 2009 12:16pm Nov 4, 2009 12:16pm
Here an example why I don't trade news.

ODL and Oanda had more that 30 pips difference and FXsol got frozen during the spikes at release of the Federal Funds rate news.
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  • #15,144
  • Nov 4, 2009 12:18pm Nov 4, 2009 12:18pm
Same spread as OANDA.

Quoting stratman

Regard brokers, there's a problem here at FF if one mentions anything that can be construed as an advertisement for a commercial entity. So I wont mention the name of mine ... but look for one with a very small spread (mine has a spread of 0.9 pips on EURUSD )
  • #15,145
  • Nov 4, 2009 12:46pm Nov 4, 2009 12:46pm
Quoting cobraforex
Here an example why I don't trade news.

ODL and Oanda had more that 30 pips difference and FXsol got frozen during the spikes at release of the Federal Funds rate news.
Greetings Cobra could you please share the settings you use for Oanda. I notice it looks the same as your MT4 charts. Thank you.
  • #15,146
  • Nov 4, 2009 1:03pm Nov 4, 2009 1:03pm
Quoting cobraforex
I have the same value
thanks Cobra
  • #15,147
  • Nov 4, 2009 3:14pm Nov 4, 2009 3:14pm
Quoting cobraforex
You have to widen your trix window, click on the double line between the main and Trix window and drag it up.
On the new version 4 is it possible to change the currency and timeframe on the Stratman minicharts that appears on the right of price action? I mean I am looking at the GBPUSD but have the small charts on the right on another currency or choose a timeframe.
I looked at all indicators setup but it seems there is no reference at the currency and timeframe of the small charts?

Thanks
  • #15,148
  • Nov 4, 2009 4:08pm Nov 4, 2009 4:08pm
So I have been trading this system for about a month now, finally have kinda started to hammer down a trading plan for it (which I have already changed quite a bit since the first draft I posted a few weeks ago).

For any new THV traders, I would like to offer the most important thing I feel I have learned so far.

If your trading the M5 like me, I highly highly highly recommend you only take trades when you have visible support/resistance covering your ass. This system provides highly accurate opportunities if you only trade the ones that have support/resistance lining up with the THV signal.

Whether it be OB/OS levels, Divergence and to a lesser extent the Trix Cross (I dont trade trix cross that often), their accuracy is significantly higher with support or resistance guiding your stop loss. Don't rely purely on the THV indicators to find these levels, switch to daily chart and draw fibonacci retracement, switch to weekly and draw the obvious trend line(s) etc.

Secondly, I set a BE+2 stop loss once I'm in profit by as little as 3 pips on some trades (up to 10 pips depending on pair and market volatility). I suggest setting up CaveManager EA to help you manage your trade so all you really have to worry about most of the time is finding the best opportunity to get into the market and not so much about when to get out.

I have found a cool website to track your MT4 trading history and analyze the data for you, here is my demo account using my THV assisted trading plan: http://www.myfxbook.com/members/deci...ence-demo/5335


Good luck, and remember the first rule is to not lose money.
  • #15,149
  • Nov 4, 2009 4:23pm Nov 4, 2009 4:23pm
Quoting decidence
So I have been trading this system for about a month now, finally have kinda started to hammer down a trading plan for it (which I have already changed quite a bit since the first draft I posted a few weeks ago).

For any new THV traders, I would like to offer the most important thing I feel I have learned so far.

If your trading the M5 like me, I highly highly highly recommend you only take trades when you have visible support/resistance covering your ass. This system provides highly accurate opportunities if you only trade the ones that have...
There will be losing trades. It is therefore not good to have as a first rule, one that doesn't work. Don't hesitate to exit a trade gone bad, is a good one. And always trade very light relative to account size, is also a good backup one.
  • #15,150
  • Nov 4, 2009 4:34pm Nov 4, 2009 4:34pm
Quoting traderathome
There will be losing trades. It is therefore not good to have as a first rule, one that doesn't work. Don't hesitate to exit a trade gone bad, is a good one. And always trade very light relative to account size, is also a good backup one.
I'm not sure I understand what your saying. Are you saying that trading with support/resistance is a rule that doesn't work for you?
  • #15,151
  • Nov 4, 2009 4:42pm Nov 4, 2009 4:42pm
Ok i feel like a bonehead for asking but i need a little help.

I have read the manuals and all the 1K pages of posts, man it took forever LOL

Can someone please give a screenshot of what an entry point and a exit point on a trade looks like.

I want to confirm that i am trading correctly.

Thanks so much.
  • #15,152
  • Nov 4, 2009 4:53pm Nov 4, 2009 4:53pm
I just don't trade if RR is anything less than 1:1

makes no sense when you see people and systems here on FF that have SL of 20 pips and TP of 5 pips...that's just stupid, period.

be careful about how quick you move your stops to BE, as this could affect your consistency in the long run, I don't see the point in taking 3 pips profit and risking 10~12.

Unless you're a very experienced scalper (mr.cobra comes to mind)...but that's another story...

hope you guys are doing well! =)
  • #15,153
  • Nov 4, 2009 5:40pm Nov 4, 2009 5:40pm
Sori to be a noob .... a newbie here.

I have downloaded the THV system into MT4. There are lots of template found in the folder, which THV template should I activate?

Thanks in advance.
  • #15,154
  • Nov 4, 2009 5:41pm Nov 4, 2009 5:41pm
Quoting Jack Herer
I just don't trade if RR is anything less than 1:1

makes no sense when you see people and systems here on FF that have SL of 20 pips and TP of 5 pips...that's just stupid, period.

be careful about how quick you move your stops to BE, as this could affect your consistency in the long run, I don't see the point in taking 3 pips profit and risking 10~12.

Unless you're a very experienced scalper (mr.cobra comes to mind)...but that's another story...

hope you guys are doing well! =)
In general I have found that once the market goes 5-10pips in your favour on M5 TF, you better take profit or set a BE SL or Trail the price because if it turns around there is a good chance that it will go 10-20pips the other way and hit your actual SL.

You really can't afford to only look for big moves on the M5 TF, its a scalping TF by nature so your looking for a high volume of trades, as high accuracy as possible and anything over 3pips over time will pay the bills in my opinion.
  • #15,155
  • Nov 4, 2009 7:37pm Nov 4, 2009 7:37pm
The mini chart indicator has Symbolnn, TimeFramenn ... use these to show other currencies.

Rob, are you from NZ ... where abouts?

Quoting RobNZ
On the new version 4 is it possible to change the currency and timeframe on the Stratman minicharts that appears on the right of price action? I mean I am looking at the GBPUSD but have the small charts on the right on another currency or choose a timeframe.
I looked at all indicators setup but it seems there is no reference at the currency and timeframe of the small charts?

Thanks
  • #15,156
  • Nov 4, 2009 8:59pm Nov 4, 2009 8:59pm
Quoting decidence
I'm not sure I understand what your saying. Are you saying that trading with support/resistance is a rule that doesn't work for you?
I am saying that a first rule of not to lose money is unrealistic. There will be losing trades. I am suggesting that it might be better to have rules such as:

1) Keep lossses to a minimum by not hesitating to exit a bad trade.
2) Trade very light relative to account size.
  • #15,157
  • Nov 4, 2009 10:18pm Nov 4, 2009 10:18pm
Quoting stratman
The mini chart indicator has Symbolnn, TimeFramenn ... use these to show other currencies.

Rob, are you from NZ ... where abouts?
Hi Stratman...yes based in Auckland...you in CHC isn't it? Thanks for the information...I realised the I had deleted the minichart indicator from my template as originally it was a bit heavy on the CPU...
  • #15,158
  • Edited 10:30pm Nov 4, 2009 10:20pm | Edited 10:30pm
EDIT: Working now ... will be interested to know if anyone else experienced same problem.

Anyone having trouble connecting to oanda.com?

Can't even get the site in a browser ... I've tried other computers (even a brand new virgin install of xp)
  • #15,159
  • Nov 4, 2009 11:34pm Nov 4, 2009 11:34pm

Looks like the coin dropped for you but one thing:

I wouldn't set BE after 3 points, let it run and see where to set the best SL as you know why you took a trade, give it enough breath to develope.

Sometimes I let a trade run against me untill 20 or more pips but I know that the higher TF S&R protects my trade until it gets broken and I'm out, waiting for a new chance.


Hope you know what I try to explain.


Quoting decidence
So I have been trading this system for about a month now, finally have kinda started to hammer down a trading plan for it (which I have already changed quite a bit since the first draft I posted a few weeks ago).

For any new THV traders, I would like to offer the most important thing I feel I have learned so far.

If your trading the M5 like me, I highly highly highly recommend you only take trades when you have visible support/resistance covering your ass. This system provides highly accurate opportunities if you only trade the ones that have...
  • #15,160
  • Nov 5, 2009 12:27am Nov 5, 2009 12:27am
Hi everyone

Would someone be kind to post the stratman minichart V3 indicator for me as I can't make V4 work, I have saved the font etc, but it just crashes my mt4.

I would really appreciate your help.
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