THV system, final edition

Hi guys, I was wondering what would be a good TP if i am trading off of the 1 hour charts. Too many times have I been in profit and it has been wiped away because I thought the gbp/usd or eur/usd would continue in one direction based on the indication. I have seen the pairs go about 40-50pips or to the next S/R level and then reverse. I am under the inpression that the pairs will move about 100 pips. Basically how will I know that the pair is ready to go at least 100 pips or do I have unrealistic expectations. I want to get better so if some one can help me set a goal. I would appreciate it. I think that seeing people get sometimes 80pips or more in 1 trade tempts me to stay in a trade even though I know it might be wrong and has not hit my stop yet. My concern is I want to ride the trend until it is done and not panic or is the exit strategies mostly based on a target goal.

Thanks so much. Oh, I will start posting charts very soon when I get my bigger screen.

LASTLY: keep in mind that I have only been trading this system this week and some of the previous week. So, my expectations may or may not be accurate.

Hey Caveman,

just tried it all again on my notebook and it was exactly the same. Everything got installed but the templates didn't.

Ok, but I installed the templates now in the other template folder and now it works. I got 9 more templates now. Which one is the right one for trading??

There is like analyse, basic, candle, candle dark and so on ........... templates.

Don't know which one to use.

Later
Bax

Hi all, was hoping someone could help me.

I've been using the THV V4 for about a month now and really like it.

All of a sudden today however when i've placed a market order on the eur/usd the system is setting it's own TP,SL and even changing my lot size.
This has never happened before. Even when i modify the SL & TP to what i want it just changes it back to what it was again.

This is only happening on eur/usd, i also use the system on gbp/usd and i've had no problem there.

I hope someone has an explanation for me.

Thanks all

Wes

Yes, very unrealistic with this method, you'll need to look at higher time frames for trades like that, and I'm talking about 4H, daily and weekly if you want to expect 100 pips TP each trade, with totally different method of trading it, not this method.

I wish everyone would keep in mind that this is a SCALPING method. When you see those people aiming those targets, keep in mind that for one, they are not trading this method and have their own method added to it, or they are trading a completely different method. Also at times, they can be having a drawdown of over 50+ pips in the negative before reaching their target or SL, as they will also be using a SL of at least 100 pips or more for huge drawdowns that might happen before reaching that big TP.

Price will NEVER only moves in one direction for a long time, it's up and down, there will be retracements that needs to happen before a 100 pips TP can be reached, and that's what you've been seeing. Most people who aim for 100 pips target have done their homework before placing their trade, so they expect that retracement and when it might happen. They also know how to react to it, what to watch for, such as if they should stay in the trade, or get out, it's not as easy as you think, and it takes a lot of time and effort to develop that skill. You can't just ask others what you should aim your TP for when you trade off 1 hour, because there are NO set answers, as each will take TP (different amount of pips) based on THEIR OWN RESEARCH OF THEIR CHART and then set their TP amount based from their chart and method. They might be aiming a high TP amount, but it is never the same each time, or at least for what I considered as an experienced trader that actually knows what he or she's doing.

If you want to try to aim for large targets just because you see others doing it, and it's temping so you want to follow, you'll only manage to lose your account in the end because now you'll just be keeping your trades open WISHING that it'll keep going your direction, and are blind to see where price might actually reverse. All you look at then are your pip numbers on your MT4 lower right corner, and not actually watching the chart to see where price might reverse.

I can tell right away you've just started trading in this market, that or you're still trying to learn the basics, especially when it comes to the psychological factor of trading. Many things you've said is how most beginner traders think, first beginner mistakes they start making (we've all been though it at one point, and trust me, it doesn't end well most of the time, for me, it was giving away over $25,000 for a very expensive lesson, which never should have needed to happen if I would have known better when I first started). What you need to do is lower your expectations of taking pips, the more you aim when you only just starting out to trade, the faster you'll fail in this market with an empty account. Start small, then as you get better, you can aim more. Greed kills many in this market, so don't let it get you before you really even started. Study, study study study the charts, if you want to aim large pips, then you really need to study the PA of how it reacts to each support/resistance and other patterns for potential breakouts, draw lines and watch the chart, study it, take notes, that's the only way you're get better in this market and survive. If you have to keep asking others for help on small matters such as where you should set your TP or SL, how to trade, then you'll never improve, as you'll never figure out how to do it on your own, you'll always be following others. Many new traders come into this field thinking they will get shortcuts, have people show them how to trade and become successful in a short amount of time, get rich, all without actually doing much work themselves or their own research of chart reading. Sorry to say, but they are the ones that fail over and over again.

By the way, Support/Resistance levels are there for a reason, where reversals will most likely happen, I don't even know what would make you think the pair will move in one direction for at least 100 pips first before reversing, and to actually be surprised when price reverses at the next support/resistance level before getting there.

You need the fonts for Stratman's minicharts. Install in
your Windows fonts folder.

The templates go in the MT4/Templates directory (not experts/templates).

Great post!

Is there actually a detailed manual for V4???

There is a few things I don't find the explanation for in the manual of V3. Few things are different now and I would really like to know everything about the system.

I now made my first few trades and must say that there is some great work in this system.

So far I am coming from pure price action and want to try some indicator methods and really start to like it.

Very well done!!!!!!!!!!!!!

Later Bax

@ ForexTrader 1

Hi,

i reading your posts since a long time and i see the Indicator based on the Sailorx's system. My Question is, have you complete this Indicator with a alert System ???
I testet this Indi since 2 Days live with the THV4. It´s very impressive !!!
But i missing a alert function....

I will thank you for your hard work

Best Regards
bretlee

hey guys very nice work!!

where do i can find that indi? sounds awesom!

@ rohule

Look at the page 1095 / Post 16417

You will find something

Best Regards
bretlee

hey bretlee thank you very much!, by the way, do you know if this indi works as well in 5m tf?
have a good one!

Wesnel,

You have an EA running somewhere that does what you described. Disable that EA.

This has nothing to do with THV V4 unless you are using the optional CaveManager to manage your trade. If you are, read the manual before using it.

Cheers,
CaveMan

Qwerty22,

Don't fall into the trap that many newbies do. It is not how large the number of pips you make per trade that matters. It is the total number of pips you can grab from the market consistently every week or every month that counts.

If you can consistently pull in even 100 pips a month, load up your lot sizes and you will be a winner every month. Consistency is the name of the game in Forex. Not trying to get big number of pips on every single trade.

Just to share and put things in perspective, my daily target is 20 to 30 pips and I am done for the day. Monthly target is 400 pips. That's it.

Cheers,
CaveMan

Hey Miss Pips,

I use your MTF indicators successfully. Thank you so much.

I changed from THV3 to THV4 in December and it's taking me this long (I must have been in holiday mode) to realise that the settings for the trix mtf in window 3 are setup wrong with the MTF template supplied in the THV4 download.

Even though the settings were wrong, i still made some money.

Thanks again to all those responsible for this awesome system

Wes

Yup, exactly, my daily target is very close to yours, 20-40 pips, then I'm done for the day. I never aim big, I only aim for consistency. =)

mine to, i have a 20 to 40 pips target, but i have some problems whith my trading hours,(i live in mexico so i have gmt-6) some times i trade at asia setion but some times i cant catch some movement, and when i trade when london and us are overlaping some times i catch one trade, but i feel like the time is ending and if i am a trade and the london setions its olmost over i worry to get stopet out!. i hope one of you guys helpme by when its the best time to trade thv system,
have a good year, full of pips for all of you people!

Hello,

Happy new year to you all!
This is my first reply on this thread. I just discovered this web-site and this system and I am very excited about it. I started to read to first 20 pages (and set-up my metatrader4 on the THV 4th version based on those 20 pages I read) but didn't knew there were more than 1100 pages to go.. now that I've discovered this, I noticed that your screenshots from your systems are not like the one on the first 20 pages. I don't know where to start to set up my system like yours and would like to ask if somebody would be kind enough to help me get it right/tell me if there are any new methods to trade this system. I added a screenshot of how my
metatrader looks right now.
Christophe

I'm in the same time zone as you, and I trade the NY session. What I do is, I check if there are news around NY open, usually around 7-7:30 am is news time, if so, then I wait until 20 minutes after the news has been released to start trading, so usually around 7:50 or so. I'll trade NY until 11:30 am (and also skip any medium and high impact news time in between), then done for the day as volume after 11:30 am would often starts to really slow down with more false signals. I can usually get at least 1-3 trades within that time frame. It is very rare that I don't get at least 1 trade. Hope that helps. (the times I posted here on this post are based on GMT -6)

no, I am working on it still . Will publish something soon. And it will be free ;-)

Caveman and Nobitacu,

thanks for the advice. Many times I see the price hit the support and resistance level only to see it reverse. I get scared because I think I will miss the move or it has started. I will try to aim for the resistence levels. That woud help me a great deal.

Also I will start posting charts very soon so that I can learn from my mistakes.