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THV system, final edition

  • #21,601
  • Dec 4, 2010 8:39pm Dec 4, 2010 8:39pm
Quoting shakeyiu
I really don't know what is the TP and SL for each trade?
TP, SL in 1M??
TP, SL in 5M??

If i use 20 pips SL and 15 pips TL, is it okay?
But it seems very poor money management that RRR is very bad....

anyway, thanks all here!!
First, when you keep your trades by THV rules, you have 70-80% winning trades. So 20pips SL and 15pips TP is not really poor MM.

Second, you can take profit at pivot points, fibs, pychs levels (you know this if you read THV Manual carefully).

I'm personally trading in M5 with M1 entry and take profit at PP, Fibs and when I feel happy with profit. Always set SL at 20 pips - and if I feel the trade is wrong, I will exit as soon as possible.


Happy weekend.
  • #21,602
  • Dec 5, 2010 1:07am Dec 5, 2010 1:07am
Quoting seller9
Here is a glimpse of something I have been working on for a while but is still undergoing testing. It is a DB that collects information from a special indicator placed on different charts. So every chart can have its own custom settings and use any 4 different time periods. Each Dash Board will display 12 Pairs but you can run more than one DB if you want to watch more than 12 pairs, it depends how many horses you have under the hood of your PC. I still need to do some testing and tweaking and then write a PDF before I post the indicator and the...
Nice work.
Regards, ChartRunner
  • #21,603
  • Dec 6, 2010 12:32am Dec 6, 2010 12:32am
Quoting shakeyiu
thx brother.. i have missed the psych leavl ...
Is there any indicator can automatic add psych leave (just 00 is enough)..

THX!!!
I am using this one:
Attached File(s)
File Type: ex4 SDX-SweetSpots_v4_MP6L.ex4   6 KB | 706 downloads
Made in Ukraine
  • #21,604
  • Dec 6, 2010 2:27am Dec 6, 2010 2:27am
Dayum people love this thread
  • #21,605
  • Dec 6, 2010 4:01am Dec 6, 2010 4:01am
Quoting boligos
someone know were i can find Currency Correlations Table
http://www.mataf.net/hr/tools/01-01-correlation

P.S.
please,delete the tdion post.
  • #21,606
  • Dec 6, 2010 3:22pm Dec 6, 2010 3:22pm
Before I start asking a questions that may have been asked or has been answered in a manual, is the manual for first post the current one? My compliments to the creators of this system. I have had great sucess so for with the basic system but there are a few more advanced settings I have not figured out like turning on scalp mode. Again thanks for all the hard work in creating this system. Allen
  • #21,607
  • Dec 7, 2010 11:20am Dec 7, 2010 11:20am
Off topic...

i have blow my account again... What should I do with my poor emotion??

I have some win trades on THV?

However, once I get loss on it, I will double or hurry to make another order...
i know it's really bad .....
But I don't have any idea to deal with it..

I don't want to fill money and money again....
  • #21,608
  • Dec 7, 2010 12:05pm Dec 7, 2010 12:05pm
I have exactly the same problem.

We do not have other choice than to work. Again and Again.


Today, I had a loss 11 pips because of a too small SL.

With a bigger SL of 1pips, I would have earned 25 pips at least.

But I am always there.

What does not kill makes us stronger.

Courage, and sorry for my english.

+++ Rendez vous later for once again pips
  • #21,609
  • Dec 7, 2010 1:03pm Dec 7, 2010 1:03pm
shakeyiu, IMO you need to practice with a demo account till you have confidence in the method you choose to trade with. Once you know for a fact your methodology is sound it is much easier to contol your emotions. Then start with a micro account and trade using a one to one risk to reward ratio this gives you a higher profit to loss ratio even though your profits will be smaller you gain confidence in your live trading. when you are winning two to one that one loss dose not get you riled up. the idea of two or 3 to 1 R/R ratio is flawed and kills new traders accounts. Good trading to all , Allen
  • #21,610
  • Dec 7, 2010 1:18pm Dec 7, 2010 1:18pm
Quoting fx_man
Before I start asking a questions that may have been asked or has been answered in a manual, is the manual for first post the current one? My compliments to the creators of this system. I have had great sucess so for with the basic system but there are a few more advanced settings I have not figured out like turning on scalp mode. Again thanks for all the hard work in creating this system. Allen
Yes its the current one.

If some of you have trouble with this method, post some screens and tell us what are your exact steps for entering a trade so we can help.
  • #21,611
  • Dec 7, 2010 1:46pm Dec 7, 2010 1:46pm
What do these bars represent? Also in THV4 trixV1.0 what is Scalp_mode for? I really like this trading method it fits my personality which is vary important. Thank you for the assistance
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  • #21,612
  • Dec 7, 2010 2:27pm Dec 7, 2010 2:27pm
Quoting shakeyiu
Off topic...

i have blow my account again... ...
Unless you have a proper methodology for entering and exiting the market you will be prone to blowing your account.

This cannot be emphasized enuff. You have to have a check list for every time you press that buy or sell. While the thv method is sound and persons can be very successful with it, you till need to develop other areas of strength, S&R, Trendlines, Chart Patterns are all critical. Do not trade THV in isolation.

Regarding methodolgy, decidence posted his method a while ago. I advise you to come up with a similar plan and practice sticking to it. For now make sure you have this list posted close to your screen. It may seem childish, but aside from method you also need to learn discipline.

In my opinion, your execution should become as mechanical as you can make it, having it in point form will help take some emotion out.

Post from Decidence

I put together my own trading strategy using THV as my main indicators. Maybe it will be helpful for others as they develop their own systems.

Day Trading the THV System
Timeframe: M5
----------------------------

Section 1 - News Check
1. Open http://www.forexfactory.com/calendar.php
2. Note news for the day for the pairs you will be trading
3. Note the times news will be released which will affect your trading pairs and avoid these times


Section 2 - The Set Up
4. Move all Chart TF's to H1
5. Note Trend direction, Trend SR's, Overbought/Oversold status and RSI
6. Move all Chart TF's to M5
7. Refer to Rule #5
8. Start looking for trading opportunities that will not contradict with notes taken from Rule #5


Section 3 - Identifying a Long Trade
Type 1:
9. Price is above Coral line
10. Previous candle closed above Ichimoku cloud
11. Fast Trix crossed up over slow Trix and both lines are green
12. No upcoming major resistance for at least 25pips
13. Not trading into bearish divergence
14. Not overbought or above 79 on RSI

Type 2:
15. Bullish Divergence identified
16. Refer to Rules #9, #12 and #14

Type 3:
17. Resisting Trend Line broken
18. Refer to Rules #12 and #14


Section 4 - Identifying a Short Trade
Type 1:
19. Price is below Coral line
20. Previous candle closed below Ichimoku cloud
21. Fast Trix crossed down below slow Trix and both lines are red
22. No upcoming major support for at least 25pips
23. Not trading into bullish divergence
24. Not oversold or below 21 on RSI

Type 2:
25. Bearish Divergence identified
26. Refer to Rules #19, #22 and #24

Type 3:
27. Supporting Trend Line broken
28. Refer to Rules #22 and #24


Section 5 - Entering the Trade
29. Before entering repeat Rules #4 and #5 to make sure your position will not break Rule #8
30. Stop loss never more then 15-20pips if 3x ATR(20) is higher this trade may not be worth the risk
31. Risk a maximum 2.5% of your equity per trade ($15,000 equity with 20pip SL is 1.8 lots)


Section 6 - Managing the Trade
32. Use your discretion when to get out! You may want to use Trailing Stop if you don't see any major resistance coming for 50pips or so and in others you may want to only pull out 15-20pips profit.
  • #21,613
  • Dec 7, 2010 9:31pm Dec 7, 2010 9:31pm
THX ALL HERE!!!!!!!!!!! I must do my best to deal with emotion!!!
THX AGAIN!!!!
  • #21,614
  • Dec 8, 2010 1:33am Dec 8, 2010 1:33am
Quoting shakeyiu
THX ALL HERE!!!!!!!!!!! I must do my best to deal with emotion!!!
THX AGAIN!!!!
Try this book. It might help to deal with emotions.
Attached File(s)
File Type: pdf EmotionFreeTradingBook.pdf   484 KB | 1,377 downloads
Made in Ukraine
  • #21,615
  • Dec 8, 2010 10:04am Dec 8, 2010 10:04am
A new lose atm.
http://img130.imageshack.us/img130/2264/sellhw.jpg
  • #21,616
  • Dec 8, 2010 10:16am Dec 8, 2010 10:16am
@imperatorfr: M5 trix was in oversold zone and there was a psych level 1.3200... just my 2 cents
  • #21,617
  • Dec 8, 2010 11:19am Dec 8, 2010 11:19am
....for your wonderful work and sharing.

Have a nice trading and enjoy your life.

Jo
  • #21,618
  • Dec 8, 2010 5:49pm Dec 8, 2010 5:49pm
Here is an example of how an indicator can change and will drive automated alerts crazy. In the first image an alert was triggered as shown in this screen shot taken at the time of the alert. In this example I am using the M15 Fast Trix and Slow Trix the same color as part of my alert. As you can see at the time of the alert they were both Green. Now take a look at the same chart later on, you can see that the Fast Trix is now Red at that same point. This would have been a good buy as we got 2 more alerts after that. It is above mR1 and seems to be breaking out of a congested area and is in my trade time zone. Notice how the support and resistance areas have recalculated in the second screen shot also. If you would have only looked at the second screen you may have thought there was something wrong with your alert as the Trix should not have given an alert looking back.

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  • #21,619
  • Dec 9, 2010 2:14am Dec 9, 2010 2:14am
It is a great opportunity to Buy EUR/USD
Look at the chart below you will see I am using thv3 version by trading 240mins chart combine with some indicator i chose
http://img1.imagehyper.com/t/0/0/342...7-69cac012.gif

you can read my post why it is a
Good Opportunity to Buy EUR/USD
{Promotion Removed}
  • #21,620
  • Edited 8:37am Dec 9, 2010 8:21am | Edited 8:37am
HI fellow THV traders

First of all a BIG thank you to Cobra and all his helpers for putting this system and discussion together

I use decidence checklist at the beginning of my trading day to look for opportunities. I never trade 30mins before or after any news reports

I went long on eur/usd yesterday based on the THV rules. I trade on the 5M TF and use 30M and 1H for confirmation of trend

I exited the trade early because of PA falling below both cloud and coral. The fast trix also turned red telling me I should exit the trade resulting in a 12 pip loss

I am seeking advice on whether my analysis on the trade was good, not so good or if anyone can offer me anything that will help me improve

Cheers

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