A disciplined THV scalper journal

Hi Boomslang

What time frame do you trade? Do youwatch the trix in other higher or lower time frames to decide entry and exit?

THV Cobra System Trade Journal

Hello all,

I have been using the THV system which was developed back in 2009 by the Cobra Forex team. A very talented team of developers and traders. I would like to thank them for providing an excellent trading system.

So, I have decided to keep a trade journal using the THV system. To keep me motivated and focused on a set of trade rules. I guess if I have to share my trades I will pay more attention and should stop myself from opening 'gut feeling trades' using the Jedi force, which I don't have.

The THV system is an advanced set of indicators and strict trade rules. One must have a good understanding of support and resistance zones along with experience of scalping. The THV team proved the system on the 1m and 5m for scalping.

My objective is to make 3% to 5% daily profit on my starting balance of 500 usd so that is 15$ to 25$ a day.

I will be trading the London session and into the start of the USA session circa six hours a day. I don't trade Fridays.

I will also be using a free download support and resistance indicator and a 60 LWMA.

Trade rules

Lot size equivalent of 1$ per 500$ of capital
Trade the 5 min chart
Use the 1m for the entry
Use the 5m fast trix colour change for the exit
Use the 15m for direction
60 LWMA for direction on all three timeframes
Support and resistance
Red coral is only short trades.
Green coral is only long trades.

Ideal short trade setup is

1m coral red
1m fast trix red
1m slow trix red
5m coral red
5m trix cross at the zero line
5m fast trix red
5m slow trix red
15m coral red
15m fast right red
60 LWMA is bellow coral
No support or resistance within 10 pips of target take profit.

Ideal long trade is the exact opposite.

This is an ideal situation and it does not occur often. I will however follow a minimum set of rules.

Trading in the direction of the coral
1m fast trix
5m fast trix 5m slow trix and 15m fast trix same colour and direction as 1m
Observe support and resistance levels
60 LWMA
No news trading.
I will stop the days trading once I make the 5% daily of deposit
I will also stop the days trading if I loose 10% of deposit

I will try and post after each trade with a screenshot explaining why I did, what I did.

- Snipe

Hi First trade of the day Monday around 9:am in London

Went long on the GBPAUD based on the 5 Min Trix Cross

Profit was 0.96$ it did peak at almost 3.50$ but I decided against that close in the vain hope it would break the resistance.

Also I noticed the trade came into profit 3 times and went negative to a maximum of 12 pips and bounced of the coral line and 60 LWMA line

I closed on the third failed attempt to beak the resistance

You may not see in the picture but the 5M fast trix is flickering between green and red, eventually decided on red.

Observation - whould I have been better off taking the 5min Fast trix entry?? Or would that have been too much risk??

Well I have managed the 1 trade above that's all.

Overall there was a lot of sideways movement and with it being a UK bank holiday the London session was quieter.

The THV system showing mixed signals and price is sandwiched between a strong support and resistance levels.

I will continue tomorrow and post my trade results.

Well I was in late to the office today and missed the two big moves when Europe and London opened.

Now I kicking myself a bit due to the lazy start to the day.

I will have to wait for the next setup now may be when the USA open starts in a about 3 hours .

Better to wait for the correct setup rather then risk a late entry.