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THV system, final edition

  • #17,201
  • Jan 19, 2010 9:02am Jan 19, 2010 9:02am
Thanks for explanation.
  • #17,202
  • Jan 19, 2010 9:05am Jan 19, 2010 9:05am
Quoting LT man
Thanks for explanation.
Best to trade by the rules though, unless you really have other convincing ways telling you otherwise, it'll usually save you in the long run doing so. lol.
  • #17,203
  • Jan 19, 2010 9:08am Jan 19, 2010 9:08am
Well, I'm slowly absorbing the intricacies of the THV method of trading, but my biggest obstacle has been self control. When I first open up the trading platform in the morning, I have an overwhelming desire to place a trade. That urge tends to make me overlook the rules, and that is a BIG mistake.

I need to come to grips with my biggest problem.....ME!

I have had a pretty good record of winning trades vs losing trades using THV, even with that shortcoming. And once I get that "trade urge" under control, I expect the wins to come more often.

One thing I love to do. When I do have a losing trade, I "capture" it and then go back and analyze what took place. Usually, the problem is obvious - broke the rules again!

I firmly believe that two of the most important components of Forex trading are:

#1 Self control (learn to follow the rules)

#2 Money management (setting parameters BEFORE a trade to protect capital and enhance profitability)

Seems so simple, but we all know it isn't. However, once we master these two areas, potential for profitable trading will increase.

I welcome everyone's thoughts on the subject.
.....avoiding the effects of randomness
  • #17,204
  • Jan 19, 2010 9:13am Jan 19, 2010 9:13am
Quoting jmas49
Well, I'm slowly absorbing the intricacies of the THV method of trading, but my biggest obstacle has been self control....
  • #17,205
  • Jan 19, 2010 9:15am Jan 19, 2010 9:15am
Did anyone catch a ride on that big sell-off on
EUR/USD this morning?

Went from 1.4404 to 1.4298 (106 pips) and then some!

I got a little bit of it (10 pips) but got nervous because it
was wallowing in the oversold zone.

I got in at 1.4379 and out at 1.4369.

Nothing wrong with 10 pips!
.....avoiding the effects of randomness
  • #17,206
  • Jan 19, 2010 9:22am Jan 19, 2010 9:22am
Hi Nobitacu

This trade give us a good 10 pips but would you enter this trade? Does it matter if the trix crosses are not near to the zero line?

Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: AUD-USD.jpg Size: 130 KB
  • #17,207
  • Edited 9:53am Jan 19, 2010 9:40am | Edited 9:53am
Quoting Emp
Hi Nobitacu

This trade give us a good 10 pips but would you enter this trade? Does it matter if the trix crosses are not near to the zero line?

Thanks
It doesn't matter if trix cross is not near the zero line for me, however, that trade is invalid because the laguerre did not confirm for me to enter that Buy.
  • #17,208
  • Jan 19, 2010 9:41am Jan 19, 2010 9:41am
Hello everyone,

I got a Euro M1 Sell confirmation. I took TP at WS1 plus spread for +8 pips. It was a bit risky trade because it was taken right at the mS4 line lol, was hoping to close below it, but it closed right on it.

Euro M1 Sell

Entrance @1.4285
TP @1.4277
SL @1.4300
Attached Image (click to enlarge)
Click to Enlarge Name: Euro M1 Sell Trade.jpg Size: 156 KB
  • #17,209
  • Jan 19, 2010 10:24am Jan 19, 2010 10:24am
thanks for the advise! how much should one aim for with a 5min scalp trade? 8pips? 5pips?

is 3 hours a day long enough to scalp in 5min and what should I try and target. I know you guys are reluctant to give targets but I just want to know what is realistic in a 3 hour period or 3 hours a day for a week.

I'm not going to sweat if I dont reach the target, just want to know where I'm working towards.

Would a good scalper get 50 pips in 3 hours? or more like 30? or even 100?

I have no Idea...
thanks for all the help nobitacu..
@pawpaw1000 on Twitter
  • #17,210
  • Jan 19, 2010 10:30am Jan 19, 2010 10:30am
Quoting Nobitacu
Hello everyone,

I got a Euro M1 Sell confirmation. I took TP at WS1 plus spread for +8 pips. It was a bit risky trade because it was taken right at the mS4 line lol, was hoping to close below it, but it closed right on it.

Euro M1 Sell

Entrance @1.4285
TP @1.4277
SL @1.4300
My monthly pivots dont match with yours. My Ws1 is @1.4288 instead of 1.4275. I have changed time settings but its always the same ??
  • #17,211
  • Jan 19, 2010 10:33am Jan 19, 2010 10:33am
I read a good book about trading Forex last year, and I'm
reading it again now (whenever I reread something, I usually
notice things that escaped me the first time).

The book is entitled "Bird Watching in Lion Country," and it
emphasizes the effects of the randomness of the market and
the importance of money management in any trading method.

Just Google the title and you should be able to track it down.
It is well worth the time it takes to read it.

.....avoiding the effects of randomness
  • #17,212
  • Jan 19, 2010 10:35am Jan 19, 2010 10:35am
Quoting Hunt4pips
My monthly pivots dont match with yours. My Ws1 is @1.4288 instead of 1.4275. I have changed time settings but its always the same ??
It could be a bit different because of different brokers being used since both of our brokers might be on different GMT time servers... however, I'm not sure how the pivot indicators will different from each other if both sides are adjusted to the correct time zone of their broker's servers since I didn't program the indicators... I would have guessed it would be very close to being the same if not that after adjustment... Caveman would be better at answer this than I could. ^^" You did change your HrsServerTzFromGMT to the GMT time your broker's server is based on right?
  • #17,213
  • Jan 19, 2010 10:41am Jan 19, 2010 10:41am
Quoting jmas49
I read a good book about trading Forex last year, and I'm
reading it again now (whenever I reread something, I usually
notice things that escaped me the first time).

The book is entitled "Bird Watching in Lion Country," and it
emphasizes the effects of the randomness of the market and
the importance of money management in any trading method.

Just Google the title and you should be able to track it down.
It is well worth the time it takes to read it.

Heard about it
Look at something long enough, you will eventually get it.
  • #17,214
  • Jan 19, 2010 10:43am Jan 19, 2010 10:43am
Quoting Nobitacu
It could be a bit different because of different brokers being used since both of our brokers might be on different GMT time servers... however, I'm not sure how the pivot indicators will different from each other if both sides are adjusted to the correct time zone of their broker's servers since I didn't program the indicators... I would have guessed it would be very close to being the same if not that after adjustment... Caveman would be better at answer this than I could. ^^" You did change your HrsServerTzFromGMT to the GMT time your broker's...
Yes my brokers time zone is gmt+2. I set HrsServerTzFromGMT 2 and hrschoicetzfromgmt 0. Which mt4 broker do you use?
  • #17,215
  • Jan 19, 2010 10:44am Jan 19, 2010 10:44am
Quoting pawpaw1000
thanks for the advise! how much should one aim for with a 5min scalp trade? 8pips? 5pips?

is 3 hours a day long enough to scalp in 5min and what should I try and target. I know you guys are reluctant to give targets but I just want to know what is realistic in a 3 hour period or 3 hours a day for a week.

I'm not going to sweat if I dont reach the target, just want to know where I'm working towards.

Would a good scalper get 50 pips in 3 hours? or more like 30? or even 100?

I have no Idea...
thanks for all the help nobitacu..
as
@pawpaw1000 on Twitter
  • #17,216
  • Jan 19, 2010 10:45am Jan 19, 2010 10:45am
Quoting Hunt4pips
Yes my brokers time zone is gmt+2. I set HrsServerTzFromGMT 2 and hrschoicetzfromgmt 0. Which mt4 broker do you use?
hmm... should be correct then for the settings, I guess Caveman (or anyone who can help answer this) will have to help answering this question then since I don't know the details of how the two pivot indicators work. ^^" I'm using IBFX as my broker right now, based on GMT +0, make things easier lol.
  • #17,217
  • Edited 11:23am Jan 19, 2010 11:01am | Edited 11:23am
Quoting pawpaw1000
thanks for the advise! how much should one aim for with a 5min scalp trade? 8pips? 5pips?

is 3 hours a day long enough to scalp in 5min and what should I try and target. I know you guys are reluctant to give targets but I just want to know what is realistic in a 3 hour period or 3 hours a day for a week.

I'm not going to sweat if I dont reach the target, just want to know where I'm working towards.

Would a good scalper get 50 pips in 3 hours? or more like 30? or even 100?

I have no Idea...
thanks for all the help nobitacu..
LOL, sorry, missed your post somehow.

For the TP and SL targets, just read the first few post of this thread on page one, and on the THV manual, it'll have answers there for you on what you should aim for TP and what you should do for SL, then just trade and test it out on your own.

We can't give targets of how many trades we will trade per day because we simply take trades as they confirm and comes to us, so we don't know on a daily bases how many trades we'll receive within a said time frame... For example, I trade from NY Open until 4 1/2 hours after, and I usually get 1-3 trades per pair that I'm trading, but it really depend from day to day, there was one time that I received zero trades to confirm during the 4 1/2 trading hours. If you meant Pip wise for target, again... it depends on your own personal way to trade this, for me is 20 pips per session as target, and I don't always reach it, or at times I'm over by 10-20 pips, again, it depends on the trading day.

But really, ALL of your answers can be answered on its own after you actually try trading the THV for a bit and read the first few post of this thread (do try to read most of this thread if you can however), don't try aiming a lot when you start, just aim small daily pip goals, after you improve enough, you can try to aim more if you develop more ways to enter QUALITY trades. If trading THV alone with its original rules/method of trading, it will not get you 50 pips within 3 hours, very unlikely anyways if trading only 1 pair. Just start trading yourself, take notes on each of your trades of why you entered that trade, and what might have caused the trade to lose if it lost, and then also write down on average how many pips you get per day, or lost, after that, set your target based on that number, and see if you can improve it slowly by improving your trading method, by reading all the notes you've took before on each trade. Your own experience is your best teacher.

A good trader can turn any losing method into a good method, while a bad trader can turn any great method into a losing method.
  • #17,218
  • Jan 19, 2010 11:36am Jan 19, 2010 11:36am
Quoting Nobitacu
hmm... should be correct then for the settings, I guess Caveman (or anyone who can help answer this) will have to help answering this question then since I don't know the details of how the two pivot indicators work. ^^" I'm using IBFX as my broker right now, based on GMT +0, make things easier lol.
Thx for reply. I have installed ibfx mt4. But pivots still doesnt match with yours. The pic shows fxdd broker which i am usually using. Maybe caveman can answer this as you said.

Attached Image (click to enlarge)
Click to Enlarge Name: 10.png Size: 101 KB
  • #17,219
  • Jan 19, 2010 11:42am Jan 19, 2010 11:42am
Quoting Hunt4pips
Thx for reply. I have installed ibfx mt4. But pivots still doesnt match with yours. The pic shows fxdd broker which i am usually using. Maybe caveman can answer this as you said.

Attachment
By the way, I just noticed that you're using the older version of the pivot indicators. I'm using the newest one posted on this thread, so perhaps that could be the problem of our difference? Or perhaps I'm the one that's off?
  • #17,220
  • Jan 19, 2010 11:49am Jan 19, 2010 11:49am
Well, I'm done for today, only +8 pips for me this NY session lol. Been hard to get trades to confirm the past few days, but hey, I'm in profit, and that's all it matters. If I can keep making 3%+ gains per week on average each and every week, I'll live very well for the rest of my life lol.
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