THV 4.0 Journal

Keeping a more detailed log for insights on the tools/my edge.

The trade I took went a lot further than what I took out.

Market Condition Bearish. Daily/4h/1hr charts all showing Bears. It seems that the trix overbought oversold zone can also be an indicator of strength.
As the indicator slid into the over sold zone I got weary and I closed out with six pips fearing that price would come back and I might turn good pips into a loss and because I was oversold. Price continued downward from 1.3085 (My Entry) to 1.3067 (Pivot MS4)

Insight from this trade. The trix is an indicator and when overgbought or oversold I will consider that the move has momentum to make it to the next Pivot level including middle pivots. I hate the idea of not being as profitable as much as possible I feel like if I don't let my runners run and get the most out of my decisions then I'll just be hurting myself, however there needs to be a line in the sand.
When I'm profitable by how many pips do I decide to get out if price comes back?

Well I guess that would depend on how many trades that I take that I close out at, lets say 8 pips as my line in the sand, and the trade goes in my favor to the next pivot. From what I can tell the pivots are the way to go. That is the decision for now and we'll guage results to see if to keep this strategy.
Another note. I jumped into this US session, I just got off work and normally do not trade. But I saw activity right at 7AM, given I'm in the US if I can get my trading in at that time it would be a bonus.

Something I else I need to make sure I check News, I belive this is a non-farm payroll week. Probably a lot of news coming out. Also the MTF Indi showed a green box but again I'm going to figure out the best way to use the system for me so if I feel I have momentum and I get one green box I may still take the trade. I'll guage my progress and change that mentality if it causes me to be unprofitable.

The overbought/oversold condition just means that you should not Open any new positions when then trix is in that zone, however, you should allow existing trade to run.

Some ideas on exit:-

1.) Wait for the fast trix to turn the opposite color
2.) Use an indicator like adx to tell you when the trend is weaken/changing direction
3.) Divergence appearing
4.) Opposing chart patterns
5.) Known S&R Levels

Remember, you used a method to get in, so you should have a method to get out. Emotion should be as removed as much possible, otherwise your developing method will always fail since no matter how much you train, if you cannot control the impulse it will lead to bad entries/exits

How's the trading going this week Kush?


I think it's a good idea to put your stop to break even after a defined amount of pips. I personally move it after about 8 pips. I notice in another thread someone was using the THV Cavemanager EA which moves your stop to break even after a pre-defined amount of pips, I tried it and I like it, but I don't execute my orders on MT4. Might be worth looking into. As Tread says it's more important having a rule and sticking to it consistently, if it's not working for you then you can always change the rule.

I looked into cave manager but declined to use it for the same reasons. Not using mt4 as my trading platform. Fyi I won't be trading, my damn ubuntu decided to stop taking dhcp offers or allowing me to connect to anything. Sooooo. Efff! I should have things working by tonight.

Fml

May the Geek Gods forgive me, I'm off ubuntu and back to windows. Everything is up and runing so I won't have an excuse tonight.

Thanks for all your help guys!

I had computer issues all week. I will commence trading once agian this morning.

Trading plan for today, Daily chart is in a down trend only looking to short this pair.

I had a signal on the 1m chart and I had broken a pivot at 1.3286. As soon as I did this I realized that I probably sold at support. Sure enough I was right and price jumped back up.

I'm happy that it did because I saw a good opportunity to sell. There was not technical signal other than where price was. When I'm looking to sell I'm going to sell at resistance and above the price cloud. I think these are the best places to sell.

If I'm wrong I'm wrong but that's where I need to be selling to get the best price. So when I'm right I should be getting the best price.

I've decided also. I'm just going to try different things that I want to get better at trading. If I don't indulge and make this mine, go with the flow, and not think about failing and making a "wrong" trading decision then I really belive that I won't be a great trader.

As I right this my short position just ran further. Next time I'll leave .1 of my position out there and set the rest of my position to BE so price has a chance to run. Get the most profit in the first 7 pips, then let .1 of the trade ride.

I took my two trades for the night. I may join the US session for my 3rd trade.

I used 5% risk tonight. I'll be more mindful of that tomorrow.

I just wanted to post this for myself. I've had a lot of life stuff going on. I've got some things together and I think I'll be able to dedicate my time next year. Another thing I may do is just trade the US session or pick a couple of hours a night to trade.

I figured out that I don't like being in front of charts all night. I will commence trading at the beginning of the new year.

Nothing lost nothing gained here yet. I will follow through at the beginning of the year. I will probably start out with a new account.

Sorry to the community for not commiting myslef to my plan. Next year we'll put together a game plan that fits into my schedule. Now that I lost some of my steam maybe I can go in with a little bit better temper.

Thanks to everyone who supports me during my emotional maturation. I realize my ego can be my own worst enemy at times, Real life is different from how I see myself in my mind. I'm sure I'm not the only one, maybe it's just being young. I sometimes see myself better than how I really am, I give myself credit where credit is not due or hasn't been earned.

I'm growing up, and I'm doing it with out any good icons to model off of. Mom and Dad aren't good examples of how I want to live or think. So I'm out here on my own trying to figure out what I am about, both weakness and strengths. I realize I need to focus on results and block or stop out the pride/ego.

It shatters your world when you realize your a punk kid who doesn't have a clue. Walking the path is different from talking about the path, I wil not give up.

I appreciate everyone, I'l be back next year to work hard/smart.

happy holidays folks. I wish only the best for you and yours.

dbsys, fx_man, Marcuss, MissPips, neild1971, Tread, Bl888, chiba_san, FXprobe, imperatorfr, ingmarforex, lucas101, marian, pips r us, rogerdoger, traderftw

You guys are the best and thank you for voting and posting, it keeps me going.

Keep the faith buddy, it's a rocky road but you'll get there if you put your mind to it and you want it badly enough. Having the discipline to relentlessly pursue your goals is what will make you successful. I can tell by your posts you know what you're doing I think you just need some screen time to apply it and learn from your mistakes. Happy Christmas & new year!

Hey Kush good to see your still at it, I have changed my strategy a little bit but still stumbling along, purchased a new indicator and getting better results.

Have a happy New Year and will keep following your journal next year.

New year, lots of time to make some pips. Thanks again to everyone and your support it helps more than you can know.

Looks like monday is a holiday for many banks. I'll plan on trading the US session on tuesday and go from there.

I will write out my trade plan for tuesday and include if I will trade in two sessions or just one.

Let's make some pips.

Okay, finally got everything ready for trading this week. I'll be trading the US session tuesday morning, about 6:00AM MST.

I'll post my trade plan before hand and keep this posted on any new trades. I'll also setup my new mt4live account so I can track progress.

News:
Three news announcments after 6:30am MST, will aviod trading at those time.

I'll update this post with technical analysis and charts before the session begins.

Hey guys, update here.

I am feeling a bit trapped and closed in with the THV system. There are certain things I like that I will take from it but I'm going to try and put together a custom hybrid for myself.

When I'm not "doing my own thing" there is this feeling inside that just doesn't sit well with me. When I look at my charts and I get that feeling I know I need to change something.

What I'm going to be doing is opening up all the THV charts a normal chart with pivots and a 60 day ema. I'm going to observe and take trades.

I have not given up on THV but this thread may turn into something different. Sorry for my inconsistency but I need to make sure this feels right or I won't want to do it.

Thanks for everyone's support I MADE HUGE PROGRESS THIS WEEK. I'm in the negative on my account at the moment but I've been taking the time to just let my self make all the natural mistakes and go with the flow following my intuition letting things come together and through my chart time I have been able to see how the THV system is to be used. I won't say I've mastered it because it's only week1 since i've been back.

I have been keeping video logs on all my thoughts so that I can get exactly what I'm feeling and thinking right out. I have made a few observations that may have already been pointed out but I never have looked at EMA's the right way.

I've taken to trades tonight that were planned based on what price action was doing on the plain chart and the setup I saw forming on the THV chart. I use the ema's now as trading points, as well as pivots. I use them together with the 60ema on my standard chart and the coral on the THV. Ultimately I think I will lean towards price action but the THV helps a lot.

My layout is now like so:
EUR/USD - THV analysis chart with pivots, THV 4 mTF , THV 4, THV analysis for EUR/JPY.

I may drop the EUR/JPY, I think it may just confuse things. Sometimes they run together other times they don't. The EUR/JPY has an 82% Correlation according to some website. After observing it, I'm just not totally sure so I'll leave it up til I feel like taking it down.

I REALLY am starting to see how trading with THV is useful. I hope I can keep this up. As far as money management, risking 4-5%. I'm going to stick with it for now. I feel like it's more fun the way I'm doing it and I want to keep this fun. Since I've started really focusing on the fun of winning aspect of trading I feel like I've been learning 10times what I was before.

My Perspective and my feelings are different in the moment. I won't get to ahead, I remember how fast the market can humble me. I'm off to a great start based on my last two trades. I'm just going to keep the video logs going and recap the trades I take here.

Thanks again for everyone's support. I will be trading off the fxcm micro platform, I can't stand the slippage with MT4. I would never trade with alpari if execution time is that slow.

I'm so excited. I haven't been this worked up about trading since I first started years ago. THV is a great system. The pivots are magic.

Later ...Just took another profitable trade 7pips. Got out this time because the momentum just wasn't big enough to reach my target. I hesitated on entry and lost a little leverage in that respect.

This is amazing. I've never traded like this. It's a whole different feeling. OMG I'm addicted. I'm so hooked now ahhhh! Price is going to my target Those pivots are magic!

Hi Kush that is what i have done taken the things I like about THV and have done a mash-up of other systems I like.

Thanks Neil, it seems that is the best way for me is just taking what works or what I like. I didn't realize how much I was trying to push my self thru the THV system instead of letting it be a part of me or seeing how it works with my thought process. Great progress.

I'm getting a laptop tomorrow and I will post my trades. I over all had a loss tonight over 4 trades. The range was really tight, I was able to squeeze out a buy and a sell. My losses for the night were when the market dropped below a pivot point and was downtrending. I feel like I kind of broke my rules here.

The long term trend is bullish on the 1hr and I feel like this move tonight was a retracement. I should have stuck with just my buys tonight. The last trade I tookout TP at 6pip, I can't remember who told me but they said 7pips was about the average move...it's looking true tonight.

If I had of left my trade out there to the pivot it would have been a fatty but I closed it out with pips I had. Tonight I was al ready for the market to explode like last friday but it was in a nice little tight range all night.

I broke my rules and traded against the longer term trend. I have to say tho that I lost a lot of pips tonight because of MT4's Platform. I'm going to start paper trading the FXCM Micro demo and hopefully I won't get slipped into a broke hole somewhere.

I gotta say, I can't believe that Alpari even has customer's. Maybe they have different execution when your live. But I wouldn't ever trade that slow.

It's like 7pips up I start to see the momentum stall out and I close...requote...close...requote...close...requote...successfully closed. Jesus tap dancing christ...half the pips gone.

I'll be more attentive to the journal and be sure to post every trade. Being a bit lazy but I'm having fun, I will keep track of every trade. The accountability factor is huge. It's easy to get lost with the trades I take through the night.

LOL you'd think I'd wait for one of the largest economies in the world to start opening up it's market before I start trading a pair it's involved in huh.


The explosive shot from MR1 (YELLOW) to R1 and beyond it looks like a good thirty pips 20pips for sure. So Good to remember just trade Sunday's New York Session if I can make it in time.

Something that through me off was the fact that on the hourly and above we are over all in an uptreand that is retracing. I drew a fib which intersected with some pivots and I wondered? Which lines do I focus on on the fibs? I noticed this pivot that it stalled out at and broke out then re-broke out until rejecting and going back up. That was a bad time to trade. Now US market opens and BOOM, there is the volatility I was seeing last Friday.

I kept thinking to myself, "I'm going to go broke if the market stays like this".
I'm so pissed guys I'm watching this thing skyrocket from 1.35976 1.36566 >< All the time I spent trading waiting for this movement. This will be a good lesson for me as this is my 2nd week of trading again.

One thing I did do right was not get in as price was jutting upward as strongly and as badly as I wanted to I did not touch my account.

I may be able to go for a second chance offer here, judging my call on playing replacements I shouldn't but I'll never get good by not trying so we'll see if a good setup comes along.

Found an entry on the 1m chart. On this one I made the decision on the analysis chart. price came all the way back to the pivot like price loves to do with those awesome pivots.

As soon as I made the call I got some bullish divergence I had to take it. I pussed out and didn't go for more pips because the pivot had already been touched and I wasn't sure how much of a second wave price had left.

So my last 4 trades were profitable on this account. Lucky I took the losses on another machine this morning.I'm not really looking at it that what but hey. Good trade.

Tomorrow.

I got another winner before bed and pretty much sold at the top.+8 pips riding from the bounce on the pivot before. God I left a ton! out there. As I watch this the market it moved all the way to the pivot. I may have to experiment with how many pips as a TP. 10 maybe, it seems like I'm leaving too much out on the table.

Those pivots seem like really good TP levels sometimes but others not so sure. I remember a post from on this thread about money management. Maybe I'll dig it out. TP 90& leave 10% to Pivot and set SL to BE? Could try that.

BTW kush.mt4live.com is up you can see all of my mistakes so far. I bet you can't tell where I started using THV semi-correctly

I bought at the breakout of MR1 or 1.3648 area sold out with about ten pips total.

BTW, I may dump mt4live since alpari loves to slip price. Seriously. I don't know how any one could trade like that. I literally lost half my trade because of execution.

I do have to say I am very greatful for MT4 for charts but not as trading platform.