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THV system, final edition

  • #17,501
  • Jan 27, 2010 2:54am Jan 27, 2010 2:54am
Quoting POSTiGA
M5 confirmation,

Taked my +points
Anycomments ?

Since the trend is down, I got in on One min pull back...

Take a look and you'll see it's in a trend of pull back about 10 - 14 pips and drop about 20 - 25 pips each time...

just my creative side looking for patterns.

but got into a +9pips trade by looking at 1min with all other TF's already lined up.
@pawpaw1000 on Twitter
  • #17,502
  • Jan 27, 2010 2:55am Jan 27, 2010 2:55am
Quoting MissPips
Latest version is 4.11 here
http://www.forexfactory.com/showpost...ostcount=17158
thanks
  • #17,503
  • Jan 27, 2010 4:11am Jan 27, 2010 4:11am
eur/usd turning to the upside?

Seems that way, broken up quite nicely and all TF's are turning green...

any opinions???
@pawpaw1000 on Twitter
  • #17,504
  • Jan 27, 2010 5:46am Jan 27, 2010 5:46am
>I'm wondering if the attached chart would be a good entry as per your coral bounce entry rules?
Yes

The one thing which I just noticed is that there was divergence on M15 against the entry in the histo.

> Do you trust the histo for divergence usually or do you check it manually in another chart against various Trix time-frames?

No, I check it manually and in that case I don't see it. The histo only picks up the trix signals which are not always ok.

>Prior to this coral touch and bounce, would you have taken any other entries? If not, why?

No, I don't usually start until about 2 hrs before London.

> I guess what I'm having trouble with spotting is how to take your entries that don't involve the coral. A small retrace might become a larger retrace, even if the M5/M1 fast trixes seem to be turning around, no? Is it safest to wait until the price retraces a certain way into the rainbow? Say to one of the dark blue MAs?

I would say it's safest not necessarily when it retraces to the dark blue but when it gets all compacted and then starts to expand, particularly if that cooncides with a fresh signal from the 5m f and 1m fast (fresh meaning recently turned color.)

>Also re the 6 points rule, if I have this correctly - M1/M5 fast trix must be the correct colour for the entry.
Yes, except divergence trades, then only m1

> Then you need 4 other lights to be the same colours of any of the other histos.
Yes


(Does that include the spread histos?)

No histos count except the original three, the top three. The divergence histo also doen't count. You need to see the divergence yourself, in which case it counts for 4 points.

>The exception being the divergence histo which counts as 4 points on its own.

>(What about the higher TF div histos? Surely H1 div is not worth 4 points when taking an M1 entry?)
I use only 1m and 5m divergence. Higher than that and price can keep going quite a bit before the divergence has any effect on the 1m action.

Thanks you!

Edit: Sorry had not seen your reply to my previous questions until now. Please ignore any redundant questions [/quote]
  • #17,505
  • Jan 27, 2010 5:48am Jan 27, 2010 5:48am
Quoting POSTiGA
M5 confirmation,

Taked my +points
Anycomments ?
I took the short at 1.4047 probably the 5 min candle before you. Here's the commentary and the chart...

EUR/USD
1. Downtrend. Heads up on 5 min chart when the 5 min IC Histo turns red at 0805 hrs GMT. (They are both red which is better)
2. Price is moving below the 20 sma and the 20 sma is below the Coral which is good for a short.
3. SS agreement. (See 5 min chart below then turn to 1 min chart)

4. Looking at the 1 min chart (below) price falls below the Coral and both top IC histo lights are red. (0805 hrs) (In fact all four lights red)
5. Both the 1 min fast and slow Trix have crossed each other and both are red. (Also fast trix crossed Zero line)
6. 1 min fast Trix not oversold.
7. Both 5 min fast and slow Trix are green so no trade yet. 5 min fast trix turns red at 0815hrs -Good!
8. Back to the 5 min chart, the price is below the 20 sma and there is stochastic agreement. Both IC histos on 5 min chart are red which is good.
9. There are more than 10 pips to support so the trade is taken short at 1.4047.
10. A Stop Loss is placed above the Swing High at 1.4067 (total 20 pips which is good).
11. A limit order is placed at 1.4027 to exit the trade. Please note if you are purely scalping for 10 pips then you’d exit at 10 pips profit.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: trade exampleeurusd21 part1 (5).png Size: 59 KB
Click to Enlarge Name: trade exampleeurusd21 part2 (1).png Size: 36 KB
  • #17,506
  • Jan 27, 2010 6:32am Jan 27, 2010 6:32am
Hi Castlebrook,

do you wait for trix crosses for your entry? Do you also mind explaining your IC Histo? ie. what do they represent?

Thank you sir.

Quoting castlebrook
I took the short at 1.4047 probably the 5 min candle before you. Here's the commentary and the chart...

EUR/USD
1. Downtrend. Heads up on 5 min chart when the 5 min IC Histo turns red at 0805 hrs GMT. (They are both red which is better)
[font=Times New Roman]2. [color=black][size=3]Price is moving below the 20 sma and the 20 sma is below...
  • #17,507
  • Jan 27, 2010 6:39am Jan 27, 2010 6:39am
Hi Seniors,

can I confirm if my understanding is correct? Many Thanks.

There was a long signal with lights confirmation. However, there is no entry because there is a regular bearish divergence. Hence it is a risky trade?

See attached and thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: EUR-USD.jpg Size: 131 KB
  • #17,508
  • Jan 27, 2010 6:50am Jan 27, 2010 6:50am
Quoting Emp
Hi Castlebrook,

do you wait for trix crosses for your entry? Do you also mind explaining your IC Histo? ie. what do they represent?

Thank you sir.
No. If I'm trading with the trend I will want the fast trix to go red on both 1min and 5 min but not necessarily to cross.

IC. Ichimoku Cloud Histo kind regards of Miss Pips. She has a new version 3.1.3 I believe. However you can get it from the Swissarmyknife too.
Ichimoku Kinko Hyo is a technical indicator published over 30 years ago in Japan. It measures market momentum and trend and also outlines levels of support and resistance. Ichimoku means 'one look' in Japanese and this reflects the indicator’s intent to measure multiple aspects of the market at once.

I only use the “kumo” or cloud part of this indicator. My mentor was very keen on this. The kumo is the very heart and soul of the Ichimoku Kinko Hyo charting system. Perhaps the most immediately visible component of Ichimoku, the kumo ("cloud" in Japanese) enables me to immediately identify the prevailing trend and price's relationship to that trend.

The Ichimoku cloud (IC) gives us the decision on which direction to trade; above the cloud only long, below only short. A break through the cloud and a subsequent move above or below it will suggest a better and more probable trade. The MTF version is used which shows us the status of the IC on multiple timeframes.

On the diagram below the IC is shown as a dark cloud almost like a 3-D ribbon. Instead of cluttering the chart with this cloud the MTF version is used at the bottom of the chart. The lights turn green when price has moved up through the cloud. They show yellow when the price is inside the cloud and the lights turn red when the price falls through the cloud. This gives us an instant visual, a “one look” if you like as to where price is in relation to the IC.
Credit has to be given to Miss Pips from the THV forum on Forex Factory. She has done a fantastic job of making the MTF indicator which translates the IC ribbon into lights for ease of use and clarity. She makes this indicator freely available. Well done to her! My mentor was totally impressed when he saw it.

On the 1 min chart I have the 1min and 5 min IC histos and both must be green/red for a long/short. (except divergence when only 1 min IC histo light needed.)
On the 5 min chart I have the 5 min and 15 min histos. 5 min light in direction of a trade is a must and 15 min is a bonus showing trend.

Ichimoku Cloud is important in my trading.

Hope that makes sense.
Attached Image
  • #17,509
  • Jan 27, 2010 6:58am Jan 27, 2010 6:58am
Quoting Emp
Hi Seniors,

can I confirm if my understanding is correct? Many Thanks.

There was a long signal with lights confirmation. However, there is no entry because there is a regular bearish divergence. Hence it is a risky trade?

See attached and thanks.
Correct! Lots of divergence hence a bit risky. Watch and wait for next direction. Only 75 pips ADR so far so could go higher but I'd prefer a pullback first.
  • #17,510
  • Jan 27, 2010 9:23am Jan 27, 2010 9:23am
Every time I read some one's post about comments to the trades I am a bit confused. That is why I should ask to THV team. When I trade on 5m chart and have a signal, should I look at 1m chart to confirm trade?
The Road appears under the steps of walking men...
  • #17,511
  • Jan 27, 2010 10:13am Jan 27, 2010 10:13am
Quoting Soondoock
Every time I read some one's post about comments to the trades I am a bit confused. That is why I should ask to THV team. When I trade on 5m chart and have a signal, should I look at 1m chart to confirm trade?
You should be looking at next higher TF to confirm your trade, not lower TF. When someone saw something on M5 and goes to M1, that mostly means they found a confirmation on M5 to enter a trade soon, then goes to M1 to find best entrance, usually earlier than what you would have got if entered on M5.

If we're entering trades on M1, we look at M5 or to some, even M15 or higher for confirmation, when we enter on M5, we look to the M15 for confirmation or higher, and so on.
  • #17,512
  • Jan 27, 2010 10:14am Jan 27, 2010 10:14am
nobi,

you trade today?

got 2 losses and one win...
@pawpaw1000 on Twitter
  • #17,513
  • Jan 27, 2010 10:14am Jan 27, 2010 10:14am
Quoting pawpaw1000
Eur/Usd looks like downward trend continuing... Looking for a sell somwhere just below current support. All TF's are pointing bear but 1min is consolodating.

I know nobi, I'm calm, waiting for my feather to land on my nose


Had some trades that would have been good this morning if I would have been around to trade, but had appointments this morning, so just got back now to start looking at my charts.
  • #17,514
  • Jan 27, 2010 10:15am Jan 27, 2010 10:15am
Quoting pawpaw1000
nobi,

you trade today?

got 2 losses and one win...
One win and two loses with the method you're developing/using? Or based on which rules?
  • #17,515
  • Jan 27, 2010 10:48am Jan 27, 2010 10:48am
Quoting Nobitacu
One win and two loses with the method you're developing/using? Or based on which rules?
using thv... the attached trade was my one loss! it was all red, 1min trix crossed below cloud and below 0... FORGOT TO CHECK 5min WHICH HAD TURNED GREEN IN MEAN TIME!

anyways. The other loser was my first trade this morning and I forced it. traded before cross!!!

My winner was all TF's south with a consolodation on 1min and bought on the 1min cross... Scored 10pips on that one!

I use 3 lots with sl of 10 pips so am therefore risking 3% of account...

I dont mind losing 10 pips some days as long as I get another day like last friday per week.
Attached Image (click to enlarge)
Click to Enlarge Name: trade4.gif Size: 73 KB
@pawpaw1000 on Twitter
  • #17,516
  • Jan 27, 2010 10:51am Jan 27, 2010 10:51am
Quoting pawpaw1000
using thv... the attached trade was my one loss! it was all red, 1min trix crossed below cloud and below 0... FORGOT TO CHECK 5min WHICH HAD TURNED GREEN IN MEAN TIME!

anyways. The other loser was my first trade this morning and I forced it. traded before cross!!!

My winner was all TF's south with a consolodation on 1min and bought on the 1min cross... Scored 10pips on that one!

I use 3 lots with sl of 10 pips so am therefore risking 3% of account...

I dont mind losing 10 pips some days as long as I get another day like last...
So... another words, if you would have followed the rules and also not force any trades again, it would have been 1 win and 0 loses? ^^
  • #17,517
  • Jan 27, 2010 10:57am Jan 27, 2010 10:57am
Quoting Nobitacu
So... another words, if you would have followed the rules and also not force any trades again, it would have been 1 win and 0 loses? ^^
I guess...

Didnt think of it that way... AAAAAAAAAAAAH!!!!

wanna kick myself! how long did it take you to stick to the rules?

how do you look for trades, sit and stair at screen? I find I sometimes feel obligated to trade on a day! think It is ok to go a couple of days without trading as you don't feel comfortable with the setups that day?

I guess if I'm trading the way I am and my risk reward ratio is 1:1 I only need 1 good trade per week to make 12% per month...

Ok, Need to control the emotions!!! maybe its because I've got withdrawal symptoms from nicotine cessation...
@pawpaw1000 on Twitter
  • #17,518
  • Jan 27, 2010 11:01am Jan 27, 2010 11:01am
Quoting Nobitacu
So... another words, if you would have followed the rules and also not force any trades again, it would have been 1 win and 0 loses? ^^

just analyzed my first trade, it was absolutely ridiculous !!!

aaah, another day of learning but I did learn a bit from today. Let's hope It doesnt take ANOTHER day of foolishness to get this into my head:

STICK TO THE RULES!!!
@pawpaw1000 on Twitter
  • #17,519
  • Jan 27, 2010 11:05am Jan 27, 2010 11:05am
I have been missing entries lately; either I am in the kitchen preparing meals or in the bathroom.

Anybody successfully used the alert function? My alert doesn't seems to be working, not sure why.
  • #17,520
  • Jan 27, 2010 11:08am Jan 27, 2010 11:08am
Quoting pawpaw1000
just analyzed my first trade, it was absolutely ridiculous !!!

aaah, another day of learning but I did learn a bit from today. Let's hope It doesnt take ANOTHER day of foolishness to get this into my head:

STICK TO THE RULES!!!
Paw sometimes i find myself making up my own rules and dont even stick to the rules i made up
Look at something long enough, you will eventually get it.
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