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THV system, final edition

  • #22,021
  • Edited 1:13pm Feb 14, 2011 10:35am | Edited 1:13pm
Quoting FXler
Note to myself: Today I wrote down all mistakes that I did for the day. I've payed for this lesson with four faulty, bad trades with 30 pips...

(please don't blame me for these mistakes. Yet I'm not clever enough to stop doing them again and again even if I know the rules since the very first day...maybe someone else is doing the same mistakes too...)

1. Don't trade against the trix of upper timeframes!
2. Don't enter a trade if the trix is near to possibly turn!
3. Don't trade when the market (trix) is overbought / oversold!
4. NEVER...never...
Most traders struggle with number 4. but although the received wisdom is supposed to be that one should never add to a losing trade (I.E. take the loss and move on) for me I think that whilst that may be OK if one is scalping, and THV is supposed to be a scalping system, sometimes it's the wrong approach. The FX market in total is moved by fundamentals and the BIG banks, and the BIG players. So, providing one has read one's cards correctly, for me it makes sense to view say, a stop hunting spike or dip, especially during a period of low volume, as an opportunity to add to my position rather than close it for a loss.

A classic example was this past Friday afternoon. All the macro indicators and more importantly the fundamentals pointed to a decline in the EU and I was short. Then, after lunch towards the close, it spiked on a stop hunt and some big players running up the price to add to their shorts - so I did too and came out of it overnight and this Monday morning with 90 pips. The moral of the story, for me, is to look at the big picture.

Good Luck!

PH
  • #22,022
  • Feb 14, 2011 11:13am Feb 14, 2011 11:13am
Thanks both for your opinion.

I forgot one:

7. If the trade is running good don't go out before the exit -rule (ft turns color, ATR/2=TP, important S/R). When I cut the winning trades the losing trades are more weightend...
  • #22,023
  • Edited 9:18pm Feb 14, 2011 12:06pm | Edited 9:18pm
i copy and paste the template as instructed but it does not work after i restart the metatrader and the EA appears in grey coloured icon rather than normal colour....anyone please help me... my template and EA NOT working... how to compile it...?
  • #22,024
  • Edited 5:25pm Feb 14, 2011 3:16pm | Edited 5:25pm
Quoting arunsideas
Friends....

Making consistent profit using THV in 1M or 5M timeframe is little hard for newbies.

Ok what shall we do for that?

Just operate THV with higher time frames ... You ll get more time to analyse.

Once you making consistent profits then reduce time frame...

In this way can make profit and trading skill also improved.

This all my experience, and now I am getting consistent profits. [I am still using 15M , 1H & 4H for my trading].

Happy Trading Friends..

Regards

Arun...
If I may say so, newbies shouldn't start with THV. As a beginner, what you need to develop is two things:

1. Market understanding enough to have
2. The discipline to stick to the rules of the system traded

Neither is helped by a system that is more complex than necessary, and the Trix readings aren't that easy to interpret without experience and market understanding. Essentially it's a smoothing of OsMA, which is a divergence indicator more than a momentum indicator - at least at first change of colour - and I bet many newbies get bitten entering counter-trend based on such readings.

The problem is that the system gives lots of signals before momentum has changed - only the experienced trader is able to filter out the false ones, and even fewer are able to time their trades perfectly. And trading a higher time-frame is just a way of postponing your becoming a trader.

Instead, the newbie should trade a system that gives signals only after momentum has changed. In that way the two main skills mentioned above may be developed, after which the trader may use the skills acquired to choose/develop a system that fits his/her perception and mental make-up.

DISCLAIMER: The views expressed here are not an expression of personal opinion, but a recommendation to any and all beginner traders following this thread. I get piles of PMs asking for advice, and the recommendations stated here are the ones that would be given to anybody asking about how to make it in trading.
  • #22,025
  • Feb 14, 2011 10:55pm Feb 14, 2011 10:55pm
Quoting medici
If I may say so, newbies shouldn't start with THV. .....
This is a point that Cobra, THV's developer, has mentioned several times. In fact, I would add that a newbie should not start out with a system at all.

As medici points out, you have to have an understanding of price action and the nature of the market you are trading first, before you even use any indicators. Otherwise you don't really know what the indicators mean.

There is no holy grail and you can't make money instantly and sustainably just by following a system. These indicators are tools, and assist you in your buy and sell decisions.

If you are new, do yourself a favor and read some books, read some of the threads on FF, and watch countless hours of PA before you even start to trade. If you get in a hurry, you will blow your account.
  • #22,026
  • Feb 15, 2011 11:25am Feb 15, 2011 11:25am
Hi everyone, my first post here.

I have to say that I've been testing out THV for almost a year now and it has really augmented my trading. To be more specific, yes the system is very accurate in delivering signals, however it is up to the trader to decide on the quality of the signal in regards to situational factors such as time, s&r levels, the kind of market, recent/upcoming news releases, etc., (the list goes on) which of course you only learn through experience.

Yes, a trader with a system learns to become disciplined, unemotional and systematic in their trading style. However just relying on the system alone (i.e. the thought process of "hey it system says I should go long/short now, so I will" without any understanding behind why you actually agreed to make the trade other than "the system told me so" won't get you far! That's definitely similar to just trading blind (pseudo-gambling? lol), but with the guise that you're using a system.

Bottom line is that THV has made me more alert during key times in the market (during which the system generates a signal), allowing me to be much more sharper (earlier entries, quicker analytical reasoning) in getting into confirmed breakout trades.
  • #22,027
  • Feb 15, 2011 12:32pm Feb 15, 2011 12:32pm
Hi!
At once I want to apologise for the my awful English.
I began to be interested in THV system one month ago. I want to thank Cobra, MissPips, Stratman and command THV. I thank Ozma that he has told about this system at a russian-speaking forum.

Now I want to show the desktop. I very much traded for a long time on system WoodiesCCI. On a screenshot this system in a bottom. I have changed only the periods for it. This indicator to me is more convenient, because I long traded on it and it often shows entires earlier than TRIX of the given timeframe. If it is interesting I try to describe accurately entires on the given indicator according to ТHV4.
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  • #22,028
  • Feb 15, 2011 2:58pm Feb 15, 2011 2:58pm
Have somebody tried thv on Metatrader 5? Is it working?
  • #22,029
  • Feb 15, 2011 3:49pm Feb 15, 2011 3:49pm
Quoting avsnsk
it's only MT4
Thank you
The victory is never to fall, is that after every fall rise
  • #22,030
  • Feb 15, 2011 5:01pm Feb 15, 2011 5:01pm
that was cool, just happened..
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How to opt out annoying user signatures ??
  • #22,031
  • Feb 16, 2011 10:32am Feb 16, 2011 10:32am
any body have thv cavemanager final ver????
The victory is never to fall, is that after every fall rise
  • #22,032
  • Feb 17, 2011 1:18pm Feb 17, 2011 1:18pm
Hi Gordon

I've just started to look at this method, I'm not really a scalper but I'm looking for alternatives to my normal trading routines. Can you you please kindly post your indicators and as you say explain how you incorporate your indicators/strategy into this straegy.


Thanks

Quoting Gorden
Hi!
At once I want to apologise for the my awful English.
I began to be interested in THV system one month ago. I want to thank Cobra, MissPips, Stratman and command THV. I thank Ozma that he has told about this system at a russian-speaking forum.

Now I want to show the desktop. I very much traded for a long time on system WoodiesCCI. On a screenshot this system in a bottom. I have changed only the periods for it. This indicator to me is more convenient, because I long traded on it and it often shows entires earlier than TRIX of the given timeframe....
  • #22,033
  • Edited 7:49am Feb 18, 2011 5:20am | Edited 7:49am
MissPisps, I have a few question. What do you do when:

1. You have a long signal, the rainbow shows long too but the PA is making lower lows?

2. You have a long signal, the PA is making higher highs too but the rainbow shows short?

In both cases the rainbow and the new tops disagree. Do you take the trade?

3. When you are in a trade and use ATR for SL, are there any reasons for you to go out earlier when it goes against you like a break of an S/R or so? Or do you wait for the PA to possibly reach the SL to make sure that you give the trade as much air to breath as it needs to succeed?

Any comments from others concerning the SL would help me too.

Many Thanks

Edit: Seller9, your DB modification for trix cross time works perfect. I am testing it since a few days without any problems. When I use 0 for time, is the time depending signal deactivated? For testing I need a deactivation too. Or does 0 for XtrixP*time mean no signal at all? Or do I have to use -1? Thanks again for your help.
  • #22,034
  • Feb 18, 2011 8:57am Feb 18, 2011 8:57am
Quoting kdx
Hi Gordon

I've just started to look at this method, I'm not really a scalper but I'm looking for alternatives to my normal trading routines. Can you you please kindly post your indicators and as you say explain how you incorporate your indicators/strategy into this straegy.


Thanks
I will show all after weekend. I still should translate into English my method ;-(
  • #22,035
  • Feb 18, 2011 11:55am Feb 18, 2011 11:55am
Price is king. For a long I like to see higher highs and higher lows and for a short I like to see lower lows and lower highs. If price is making lower lows for a long then something is not right. I like to see normal looking waves, for a downtrend 3 to 5 bars down 1-3 smaller bars up. The point of this particular trade is that I am trying to reduce uncertainty as far as possible by stacking the odds in my favor (like for example when the rainbow hash just flipped and the two longer term trixes are near their flips and there's nothing that I can see in the way, and the market is rising or falling in normal size waves then the odd are it's going to keep going that way for the one more retrace that I need for the 10 pips. If the trixes cant line up together or the waves don't line up right then there is too much dissention in the market about direction and I am more comfortable wating for a better looking trade. What I might do though is look at what caused the lower low (say some MA causing resistance or a fib) and then if that gets broken and if there are fresh 1m and 5m fast trixes that agree then I might enter there. That's just me though

2. In the second case I'd check the guppies If they had flipped then I'd see where price was with respect to the spine. If it was above it and the rainbow had started to flip but not completely flipped I might take it. It would depend how strong I thought the trend was though. If the long signal was just as price was about hit the spine and the trend was pretty strong I wouldn't do it because a lot times price will retrace right up to the spine and then turn around.

3. Usually I just leave the trade. The only exception is that if price tried to break something four times and didn't succeed then I get out because usually it breaks by the fourth try.

Quoting FXler
MissPisps, I have a few question. What do you do when:

1. You have a long signal, the rainbow shows long too but the PA is making lower lows?

2. You have a long signal, the PA is making higher highs too but the rainbow shows short?

In both cases the rainbow and the new tops disagree. Do you take the trade?

3. When you are in a trade and use ATR for SL, are there any reasons for you to go out earlier when it goes against you like a break of an S/R or so? Or do you wait for the PA to possibly reach the SL to make sure that you give the trade...
  • #22,036
  • Feb 18, 2011 12:33pm Feb 18, 2011 12:33pm
please give me thv cave manger final ver
The victory is never to fall, is that after every fall rise
  • #22,037
  • Feb 18, 2011 10:02pm Feb 18, 2011 10:02pm
Can you please attach your Woodies CCI indicator and describe how you use it?
Thank you.



Quoting Gorden
Hi!
At once I want to apologise for the my awful English.
I began to be interested in THV system one month ago. I want to thank Cobra, MissPips, Stratman and command THV. I thank Ozma that he has told about this system at a russian-speaking forum.

Now I want to show the desktop. I very much traded for a long time on system WoodiesCCI. On a screenshot this system in a bottom. I have changed only the periods for it. This indicator to me is more convenient, because I long traded on it and it often shows entires earlier than TRIX of the given timeframe....
  • #22,038
  • Feb 19, 2011 5:08am Feb 19, 2011 5:08am
Quoting rxcasino
please give me thv cave manger final ver
Search this thread or attachments. It`s somewhere here
I think version 1.41.
Made in Ukraine
  • #22,039
  • Feb 19, 2011 11:04am Feb 19, 2011 11:04am

Badass_UA



thank you
The victory is never to fall, is that after every fall rise
  • #22,040
  • Feb 19, 2011 2:44pm Feb 19, 2011 2:44pm
Thank you very much. One of my problems was always that I closed my trades too early because I was afraid. Last Friday I let the trades run and respected the sl and I made nearly 60 pips. That was my best result so far on 5m for a day. Btw I don't like weekends since forex ...

Quoting MissPips
Price is king. For a long I like to see higher highs and higher lows and for a short I like to see lower lows and lower highs. If price is making lower lows for a long then something is not right. I like to see normal looking waves, for a downtrend 3 to 5 bars down 1-3 smaller bars up. The point of this particular trade is that I am trying to reduce uncertainty as far as possible by stacking the odds in my favor (like for example when the rainbow hash just flipped and the two longer term trixes are near their flips and there's nothing that I can...
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