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THV system, final edition

  • #16,281
  • Dec 17, 2009 3:01am Dec 17, 2009 3:01am
Hi all, can someone please explain how important ADRLowLine is as resistance (price bounced of it after breaking 200 EMA on daily chart)? I'm using MissPips raibow template together with THV4 and it works really well.
  • #16,282
  • Dec 17, 2009 3:35am Dec 17, 2009 3:35am
Quoting POSTiGA
Hello Mihailo

Very good trades,
Im impressed with your trades
All trades done with THV4 ?

Regard's
Yes
  • #16,283
  • Edited 9:17am Dec 17, 2009 6:46am | Edited 9:17am
Hello everyone,

Hope you're all doing well today. I had 3 trades already finished this morning for the NY session. I don't trade within 30 minutes before news release, and within 20 minutes after the news release, so with this 50 minutes of free/break time, I'll post these trades here in case some of you also caught it.

Note: The first vertical red line I drew (from the left) was the candle I entered the trade at the opening of this candle, that's why it might look a bit far away from the Trix and Laguerre confirmation signals, but it was entered when confirmed by the closing of the previous candle, which was still 2 candles within the Trix and Laguerre signals from each other. I don't enter if those 2 signals are more than 2 candles away from each other, such as both didn't confirm until after the 3rd candle closes, if so, then I don't enter. Only time I might say OK with 3 candle distance is only on M1 confirmation trades, and if the distance of the fast and slow Trix isn't far apart from each other yet (spread out).

I also use the next higher time frame's Trix for confirmation. For example, if M1 confirmed for an entrance, let's say a Buy, I look at the M5 Fast Trix to make sure it is green color, if it's not, or the M5 trix has just crossed into the opposite direction, or if it's overbought, I don't enter that long trade (common sense really). Same idea follows for M5 confirmation trades, that's why I have that M15 Trix box on the bottom, to be used for M5 confirmation trades.

SL wise, I use 15 pips for M1 Euro trades, 20 pips for M5 Euro trades. For both M1 and M5 Cable trades, I use 20 pips. Target, I always only aim 10 pips, unless there's a resistance/support line before it, if so, I use that for TP instead. If it's a Sell trade, and I'm taking TP at the next major resistance line, I will add spread on top of that value to cover that movement. I also don't close trades early, it either hits my TP or SL (but do whichever way you're comfortable with).

All other rules are the same as THV's rules, another words, before you can start trading this method, YOU MUST FIRST LEARN HOW TO TRADE THE ACTUAL THV METHOD FIRST! (located on the very first post of this thread) Which of course, is highly recommended (no short cuts from me, sorry, you still need to do all the necessary work on your own first) =). This is basically it really rules wise, very simple way to trade in my mind.

I really only need +20 pips per day, however, once I reach +40 pips during the same session, I close up shop and relax, trying to aim more pips/trades than that within the same session for me is over trading and just plain greedy. That extra risk of those +40 pips profit is not necessary or worth it in my mind. Either way however, I close up shop for the NY session at 12:30 pm EST, the volume after that is usually low, so more risk to false signals.

Also, the settings for my Laguerre RSI indicator are: Level1: 0.8, Level2: 0.5, Level3: 0.2, all other values are by default. I've included the extra indicators needed and the M1/M5 templates. I didn't include the M15 template because all it is is the Trix indicator attached onto a plan chart, very easy to do on your own. All templates are made to best fit onto one 22inch screen, you can of course, adjust it as you wish to fit on other screen sizes and resolution (I have dual 22inch screens, one for each pair). ^^

The first trade was a Euro M1 confirmation trade,
Entered @1.4346
TP @1.4356
SL @1.4331
TP was reached for +10 pips.

The second trade was a Cable M5 confirmation trade,
Entered @1.6124
TP @1.6134
SL @1.6104
TP was reached for +10 pips.

The third trade was a Euro M5 confirmation trade,
Entered @1.4362
TP @1.4372
SL @1.6104
TP was reached for +10 pips.

That's +30 pips for so far today. ^^
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSD M1.jpg Size: 138 KB
Click to Enlarge Name: GBPUSD M5.jpg Size: 149 KB
Click to Enlarge Name: EURUSD M5.jpg Size: 139 KB
Attached File(s)
File Type: mq4 Laguerre_RSI_v1.01m_mtf.mq4   11 KB | 823 downloads
File Type: mq4 THV4 FFCal.mq4   51 KB | 877 downloads
File Type: tpl THV - Laguerre - M1.tpl   84 KB | 737 downloads
File Type: tpl THV - Laguerre - M5.tpl   78 KB | 673 downloads
  • #16,284
  • Edited 7:19am Dec 17, 2009 7:04am | Edited 7:19am
Quoting Mihailo
Yes
Awesome trade record Mihailo! Each person has their own style of trading that they are comfortable with, I won't be able to survive mentally with Mihailo's trading style, trading without SL and allowing it to float at times to 3 digit pips in the negative, my mind won't be able to handle that. ^^" The last time I tried doing that is for a +100 pips target, that same trade went against me first by around -500 pips, it ended up winning with +100 pips, but I swear after that I'll never want to go through something like that again, I almost went nuts during that 2 weeks! That wasn't worth it for only +100 pips, maybe +500 to +1000 pips, haha, but not +100 pips.
  • #16,285
  • Dec 17, 2009 7:21am Dec 17, 2009 7:21am
Quoting Nobitacu
Hello everyone,

Hope you're all doing well today. I had 3 trades already finished this morning for the NY session. I don't trade within 30 minutes before news release, and within 20 minutes after the news release, so with this 50 minutes of free/break time, I'll post these trades here in case some of you also caught it.

Note: The first vertical red line I drew (from the left) was the candle I entered the trade at the opening of this candle, that's why it might look a bit far away from the Trix and Laguerre confirmation signals, but it was entered...
Hi,
I am new to this THV thread and crawling the previous threads.
One thing I notice from your trade is, the risk/reward ratio is too high. What do you think?

Regards
Wilson
  • #16,286
  • Edited 8:36am Dec 17, 2009 7:27am | Edited 8:36am
Quoting wilson1668
Hi,
I am new to this THV thread and crawling the previous threads.
One thing I notice from your trade is, the risk/reward ratio is too high. What do you think?

Regards
Wilson
It really depends how and what's comfortable for each trader's style of trading. For me, it's not, it's still within the 1:2 reward/risk ratio, which is really quite normal and good for most, I've seen many using 1:4 reward/risk ratios or more, or plan no SL (just ask Mihailo ^^"), which for me, would be too much and uncomfortable. If I use less than 15-20 pips for SL for Euro, and especially Cable, it'll hit SL most of the time as it would be too tight with this method, perhaps a different method of scalping you'll be able to use less pips for SL or aim for higher TP target. I'm only scalping (THV is a scalping method), so I don't need to aim higher than 10 pips for my target ( I believe MissPips also only aims for 10 pips), that's why this is called scalping, not trend trading, most scalpers don't bother to even look at the trend. I do want to note I'm still testing everything, so trade the way I trade with your own discretion, but it really isn't much different than the "normal" THV rules that was posted on the very first post of this thread. I also only test on live account and not demo (using the smallest lot size allowed), as the results can be very different because of the differences in its data feed. Most of my trades however, never reach pass -10 pips for its drawdown, -6 to -8 pips usually before heading in the direction of the trade. Anyone is welcome to test trade with me. =)
  • #16,287
  • Dec 17, 2009 8:17am Dec 17, 2009 8:17am
Hi Mihailo, great trading and success WOW.

quick question, do your trading rules differ from that of cobraforex and nobitacu?

Can you clarify your rules and possibly post a screenshot of a trade you placed?

thanks for the great thread to all the members and thanks to cobraforex for the great THV system.
  • #16,288
  • Dec 17, 2009 9:02am Dec 17, 2009 9:02am
Quoting Mihailo
Yes

Mihailo, I love when you post your results. It really shows just how powerful the THV is when traded correctly and gives guys like me encouragement to keep at it .

Look at something long enough, you will eventually get it.
  • #16,289
  • Dec 17, 2009 9:05am Dec 17, 2009 9:05am
I forgot to shout out Cobra and the THV Team for the work putting it together.

Look at something long enough, you will eventually get it.
  • #16,290
  • Dec 17, 2009 9:06am Dec 17, 2009 9:06am
Here's a Divergence Cheat Sheet that I got from babypips. I've formatted the size so that it can be printed out nicely on a single page, so you can use it for easy reference.
Attached File(s)
File Type: doc Divergence Cheat Sheet.doc   305 KB | 935 downloads
  • #16,291
  • Dec 17, 2009 9:14am Dec 17, 2009 9:14am
Quoting Nobitacu
Hello everyone,

Hope you're all doing well today. I had 3 trades already finished this morning for the NY session. I don't trade within 30 minutes before news release, and within 20 minutes after the news release, so with this 50 minutes of free/break time, I'll post these trades here in case some of you also caught it.

Note: The first vertical red line I drew (from the left) was the candle I entered the trade at the opening of this candle, that's why it might look a bit far away from the Trix and Laguerre confirmation signals, but it was entered...
Thanks for posting
Look at something long enough, you will eventually get it.
  • #16,292
  • Dec 17, 2009 9:32am Dec 17, 2009 9:32am
I might say OK with 3 candle distance is only on M1 confirmation trades,


What would you consider to be a M1 confirmation ?
Look at something long enough, you will eventually get it.
  • #16,293
  • Dec 17, 2009 9:56am Dec 17, 2009 9:56am
Hi all,

I'd like to share an improvement I made to the MTF trix.
What I did was to create a histogram that shows the distance
between the fast and slow trix. You can judge this
by eye but it's easier with a histogram. What this does
is give you a heads up that the trend is running out of steam
when the distance between the two narrows (or picking up
steam when it widens) before the trix actually changes color.
In the screenshot below you can see a good example of a heads
up that the uptrend that the rainbow is starting to show is not
going to get too far, and the main downtrend will be resuming soon.
You get a nice warning not to take the 1m trix cross up between the
two red bars even though the 5m trix is still green at that point.

You will also need THV T3 Trix for this to work. (this mtf trix uses this version of the trix, because you can specify the number of bars and the A_t3 and B_t3 period you want.) You can also use this as your regular trix by setting both auto tfs to false.
Attached Image (click to enlarge)
Click to Enlarge Name: mtfhisto.png Size: 112 KB
Attached File(s)
File Type: ex4 THV T3 Trix MTFv1wcolorhist.ex4   10 KB | 734 downloads
File Type: ex4 THV T3 Trix.ex4   6 KB | 898 downloads
  • #16,294
  • Dec 17, 2009 10:21am Dec 17, 2009 10:21am
Quoting traco1
I might say OK with 3 candle distance is only on M1 confirmation trades,


What would you consider to be a M1 confirmation ?
Yes, the 3 candle distance will only be OK on the M1 confirmed entrances, but you'll need to be sure that the width between the Fast and Slow Trix hasn't widen by a lot already on the M1 Trix when entering after the closing of the 3rd candle. What I considered to be a M1 confirmation entrance is when the trade itself is confirmed for entrance on the M1 chart.

By the way, there was a confirmed M1 Buy trade on Cable around half hour ago (17:46 GMT), but I didn't take it since I close shop at 12:30 pm EST, but usually it's still OK to still take trades up until 1 pm EST, I just prefer not to. This trade would have easily reached S3 target for a small TP or with the 10 pips target.
  • #16,295
  • Dec 17, 2009 10:32am Dec 17, 2009 10:32am
Quoting MissPips
Hi all,

I'd like to share an improvement I made to the MTF trix.
What I did was to create a histogram that shows the distance
between the fast and slow trix. You can judge this
by eye but it's easier with a histogram. What this does
is give you a heads up that the trend is running out of steam
when the distance between the two narrows (or picking up
steam when it widens) before the trix actually changes color.
In the screenshot below you can see a good example of a heads
up that the uptrend that the rainbow is starting to show is not
going to...



THANK YOU very much for these efforts and desire to improve things!


So, bigger is the volume of the histogram, bigger is the probability to have success in the trade? I did not understand very well how you mean to use the histogram to recognize false signals. Also looking for divergence between PA and histogram and correlations with the histogram color?


Thank you for your time!
  • #16,296
  • Edited 11:06am Dec 17, 2009 10:39am | Edited 11:06am
You're welcome. I don't have rules for it yet.It's just to show
graphically what a lot of us look for anyway - the spread
between the fast and slow trix widening and narowing. What I did to get the histo was subtract the fast trix from the slow trix and show green if the spread is widening when the fast trix is above the slow trix and red when it is narrowing when the fast trix is above the slow trix. When the fast trix is below the slow trix and the spread is widening it shows red, and when the fast trix is below the slow trix but the spread is narrowing it shows green.

In general it's better to get into a trend as the spread between the two is still
widening. When you see the spread between the two start to narrow,
you have to be a little suspicious entering at that point.

For example, if you look at the long trix cross on the one min chart I posted, between the two red bars it looks ok. 5m trixes are both green and not oversold, rainbow is up, you have higher highs and lows, PA is not too far from the coral. But you can see on the 5m trix the retracement trend is running out of steam because the histo is showing that the spread between the fast and slow trix is narrowing.

Just add it to a chart and watch it and you will see what I mean.

Quoting Sailorx
THANK YOU very much for these efforts and desire to improve things!


So, bigger is the volume of the histogram, bigger is the probability to have success in the trade? I did not understand very well how you mean to use the histogram to recognize false signals. Also looking for divergence between PA and histogram and correlations with the histogram color?


Thank you for your time!
  • #16,297
  • Dec 17, 2009 11:04am Dec 17, 2009 11:04am
Quoting MissPips
You're welcome. I don't have rules for it yet.It's just to show
graphically what a lot of us look for anyway - the spread
between the fast and slow trix widening and narowing. In general
it's better to get into a trend as the spread between the two is still
widening. When you see the spread between the two start to narrow,
you have to be a little suspicious entering at that point.

For example, if you look at the long trix cross on the one min chart I posted, between the two red bars it looks ok. 5m trixes are both green and not oversold, rainbow...

Understood, and thank you again!


About your example on eurusd for trix cross rejection, I saw PA was hitting two Fibo levels while the trix was crossing. I post the chart here.
Attached Image (click to enlarge)
Click to Enlarge Name: reject cross.jpg Size: 124 KB
  • #16,298
  • Dec 17, 2009 4:54pm Dec 17, 2009 4:54pm
Quoting Nobitacu
Hello everyone,

Hope you're all doing well today. I had 3 trades already finished this morning for the NY session.........

.....
The first trade was a Euro M1 confirmation trade,
Entered @1.4346
TP @1.4356
SL @1.4331
TP was reached for +10 pips.
Hello Nobitacu,

Thanks for posting the way you operate ... I'm looking at and found it very interesting, but I got a doubt in his first trade ...

His first trade was not wrong ??? The following factors:

- PA Below the Coral in M5
- Trix Below the Line 0 in M5
- Trix Fast is Red in M15

Because of these factors, their entry was not wrong ??
I would like to understand the reason for your entry...

Sorry my bad English
Thank you very much


Attached Image (click to enlarge)
Click to Enlarge Name: 001.jpg Size: 141 KB
I am Brazilian and I never give up!
  • #16,299
  • Dec 17, 2009 5:21pm Dec 17, 2009 5:21pm
Quoting traco1
Mihailo, I love when you post your results. It really shows just how powerful the THV is when traded correctly and gives guys like me encouragement to keep at it .

Just keep on rolling man!

They who give up doesn’t succeed!
  • #16,300
  • Dec 17, 2009 5:39pm Dec 17, 2009 5:39pm
Quoting Nobitacu
Awesome trade record Mihailo! Each person has their own style of trading that they are comfortable with, I won't be able to survive mentally with Mihailo's trading style, trading without SL and allowing it to float at times to 3 digit pips in the negative, my mind won't be able to handle that. ^^" The last time I tried doing that is for a +100 pips target, that same trade went against me first by around -500 pips, it ended up winning with +100 pips, but I swear after that I'll never want to go through something like that again, I almost...
Hi Nobitacu!

One pip in positive is much better than one in negative!

100 pips on 2 lot size??!!!

I’m carving marble and granite as a sculptor and one day came my friend in my studio. He is also sculptor...

He asked me how much I want for piece of marble, it was around 15/10/10 cm big (or small).

I said nothing! It is a waste, it is a rest of much bigger stone... Take it!

He said - No, no, no it is not a waste!

Is 100 euro waste from 5000 euros?

Clever man! Isn’t he?
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