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THV system, final edition

  • #23,841
  • Edited 9:15pm Jun 14, 2012 7:03am | Edited 9:15pm
This looks like an interesting system to learn. Can anyone help me in my first attempts at downloading THV v3 or v4 please. I've downloaded all the indicators and templates in posts 1 and 3 of this thread; copy-and-pasted them into my MT4 directories (into both folders: MT4\templates and MT4\experts\templates). But the templates do not appear on my list of templates when I try to use them from within MT4, although I can see the .tpl files in the templates folders when I look at the file directory. My MT4 version is build 432. Do I have to uninstall this and revert to an older one to get the templates to work? Any suggestions gratefully received. thanks

Pete
  • #23,842
  • Edited 8:26am Jun 14, 2012 7:39am | Edited 8:26am
Hey guys.. I'm trying this trading system now. Everything seems fine and it is profiting. However, can someone explain to me how this CaveManager's "Profit by batch" mechanism works? Yesterday, I saw the trade hits the 1st batch, but it closed the trade after that.

Another issue regarding v3, the MarketHours seems to be not accurate. 2 hours differences compare with the actual market hour.

p/s: Newbie here.. sorry, if my english sucks! >.<
  • #23,843
  • Jun 14, 2012 8:23am Jun 14, 2012 8:23am
First entry today on GBP(I spent all morning in the dental chair)A bounced from M5 demand,Asia low and 61.8 Fibs level,H1 61.8 with simultaneous multiple bullish divergences.
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  • #23,844
  • Edited 9:26am Jun 18, 2012 3:35am | Edited 9:26am
Thought Ricmi set a good example by getting back
to posting trades.

Me favorite!
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Considerations:

1) Divergence on 5m chart followed by low taking out
previous higher low
2) Lower low and lower high on 5m chart
3) Rainbow compresses and makes double flip (1m and 5 timeframes)
and then starts expanding with yellow layer showing on both
(which is to say, price has consolidated, and then picked a direction)
4) 15 m trix crossed, 5m trix crossing, 1m fast trix red
5) Price below coral on 1m and 5m chart.
6) Price tests R, retraces, breaks R, tests from bottom and continues (BRC)
7) 10 pips room until next R

Edit: 6 hours later, here's why I like these double rainbow flip/reversal pattern/compression/expansion setups so much
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  • #23,845
  • Jun 18, 2012 4:46am Jun 18, 2012 4:46am
They should work with that build.

If where you put them is your mt4/templates folder and you can't see them it might be because you have so many templates in the folder that you need to use the scroll down button.

If you still can't can't find them on your templates menu you can:
1)Right click on the chart
2) Select Template from the menu
3) Select Load template and then browse to where you put them and load them from there.


Quoting peterbee77
This looks like an interesting system to learn. Can anyone help me in my first attempts at downloading THV v3 or v4 please. I've downloaded all the indicators and templates in posts 1 and 3 of this thread; copy-and-pasted them into my MT4 directories (into both folders: MT4templates and MT4expertstemplates). But the templates do not appear on my list of templates when I try to use them from within MT4, although I can see the .tpl files in the templates folders when I look at the file directory. My MT4 version is build 432. Do I have to uninstall...
  • #23,846
  • Jun 18, 2012 5:36am Jun 18, 2012 5:36am
If I buy an apartment, how much would you advise me to rent it for?

Quoting Esser
I've just started using this system on a demo account, and so far, I quite like it! :-)

There is just one thing i could use some help with.
How many pips do you usually try to scalp on one trade? I mean, if it's not some sort of huge price drop og uptrend, but just a "normal" trade.
Also, what sort of stop-loss should i set accordingly?

Thank you for a great system!!! :-)
  • #23,847
  • Jun 18, 2012 10:41am Jun 18, 2012 10:41am
Quoting Jordanlc
Thanks very much!
You mean the fast & slow trix lines in the middle is unnecessary, i can delete it. And just look at the green & red lights that at the end of the screen? Is that right?
NO. Fast and Slow trix are the only essential. I meant der Red and Green squares. The seccond from the 3..
How to opt out annoying user signatures ??
  • #23,848
  • Jun 18, 2012 3:23pm Jun 18, 2012 3:23pm
Okay okay, it was a stupid question! ;-) I'm just having a bit of a hard time getting this strategy to work super well... The first day i tried it on a demo account, about 80% of my trades went the right way, but the last couple of days, it's been more like 30-40%... I still like the strategy though, so I'm really trying to learn how to utilize it best.
How long did it take for you guys to get what you would say is a satisfactional success rate? If you are there yet of course...
  • #23,849
  • Jun 18, 2012 4:48pm Jun 18, 2012 4:48pm
1 year.

But also,
changed from Stocks to Forex 2 years ago
How to opt out annoying user signatures ??
  • #23,850
  • Edited 1:13am Jun 19, 2012 12:26am | Edited 1:13am
My point was, buying currency is kind of like buying a house to rent out.

If I'm buying a house, first of all I shouldn't buy one that's more expensive than I can afford to maintain if something goes wrong and I can't rent it out for a while. (position size small enough so I won't panic if it goes against me a few pips)

Then I should consider the economy and demographics. If there's a housing glut maybe I should stay out of the market, whereas if there was
a baby boom twenty years ago and the economy is also booming I should get in and specialize in one-bedroom places (consolidating vs trending market).

Then I should consider my tenants. If it's somebody I know or who knows somebody I know, I can charge a bit less, because they are less likely to trash the place or stiff me. (Am I entering with a pattern I am familiar with and know to be pretty trustworthy? Are we talking London open breaking consolidation or Franky Fake hour?)

And lastly: Location, location, location. (If I'm shorting, for example, is my stop going to be in a good place relative to both my money managment and to a location that price should not go above if I'm right about the trade. And is there room to the downside for the profit I want, both in respect to my money management and to where the likely bumps in the road that might make it bounce are? Where is the short with respect to the higher timeframe? Am I shorting at a major bottom or at the top of a channel in a major downtrend? Are the stochastics in every timeframe oversold or are they overbought in every timeframe?)

And then of course it depends on what currency, what timeframe, what time of day, and general market conditions (is there a major panic on or are we in the summer doldrums?)

It took me a couple of years, but I was dumb enough to waste a lot of time following a method that was being blogged about as a successful system at a very well-known and popular site for beginners. The blogger kept posting winning trades and pip total summaries showing winning months and I kept having losing month totals. It took me quite a while before I figured out it wasn't me - it was that the blogger was not religiously taking every trade (as he claimed you should do) but was very cleverly posting some loses ( to sound credible I suppose) while other times he would have an unexpected day off just on very a bad day for the system, or his stop would be missed by 1 pip while on all the platforms I checked it would be hit, or once in a while he'd do something that was against the rules and just say 'I couldn't resist'. I think that once he even fudged how one of the indicators he was using looked on a chart. The idea was just to attract viewers to the site, and once it got popular enough (and people started commenting on this kind of thing) he gave up the charade and just went to only posting only every few days and not posting monthly totals anyway so the omissions wouldn't look so obvious.

Now of course, there's nothing wrong with entering trades on a discretionary basis - I am all for it and I think that to be a successful trader that's what you have to do because you have to adapt the kind of trade you put on to the kind of market you are in, and when you put on a trade you need to have a good look around first to see where you are on the chart with respect to S/R and the higher timeframes, pay close attention to divergence, and not trade just because you got a signal. But that wasn't what he was claiming to do of course - at the time he was claiming to have profitable system if you just followed the rules in order to attract followers, whereas what he was probably actually making most of his money from was advertising on the site. It was a good lesson though, although not exactly in the way intended.



Quoting Esser
Okay okay, it was a stupid question! ;-) I'm just having a bit of a hard time getting this strategy to work super well... The first day i tried it on a demo account, about 80% of my trades went the right way, but the last couple of days, it's been more like 30-40%... I still like the strategy though, so I'm really trying to learn how to utilize it best.
How long did it take for you guys to get what you would say is a satisfactional success rate? If you are there yet of course...
  • #23,851
  • Jun 19, 2012 1:47am Jun 19, 2012 1:47am
Nice trade yesterday Miss Pips. I actually took that exact signal and left half of it ride until the NY open. I was happy to see your post and see that I was doing something right! Just took another quick +11 on this trade, even though it was against the rainbow. PA kept bouncing off the 1.2610 level, saw 5 min divergence, and 3 TF trix harmony.

One big trick that has been greatly helping my trades has been to look for wide range 15 min bars, wait for the gap to be filled, and then trade a reversal of the fill when you get a rainbow trade, or 6 light (in my case 8 light) signal.
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  • #23,852
  • Jun 19, 2012 2:31am Jun 19, 2012 2:31am
He, he I took that same trade you just took , but one bar later as it broke down after retesting S from the downside, because of lower lows and lower highs on the 5m chart, a 6 point swing high on the 5m chart and 6 lights on the 1 m chart, and BRC (break, retest, continuation) of the support on the 1m chart.

I didn't understand the second part of your post. Can you post a chart showing what you mean?

Quoting toafdawg
Nice trade yesterday Miss Pips. I actually took that exact signal and left half of it ride until the NY open. I was happy to see your post and see that I was doing something right! Just took another quick +11 on this trade, even though it was against the rainbow. PA kept bouncing off the 1.2610 level, saw 5 min divergence, and 3 TF trix harmony.

One big trick that has been greatly helping my trades has been to look for wide range 15 min bars, wait for the gap to be filled, and then trade a reversal of the fill when you get a rainbow trade,...
  • #23,853
  • Jun 19, 2012 3:15pm Jun 19, 2012 3:15pm
Glad to see that I'm thinking like the best!.

Here's an explanation of what I look for in a 'gap.' If you look at the chart below, the red rectangle shows a couple of wide range bars that open and close at both their lows and highs. Market makers need to manage risk, so they try to drive price down back to the start of these wide range bars.

Once that happens, I like to look for rainbow, or 8-light trades in the direction of the wide range bars. This was a perfect set up that I missed last night.

So I think to keep up the majors, and Dow on 15 min charts and look for these. Then I go down to the 1 minute using your techniques. This has been very successful over the last month, as I've only seen 1 EURUSD trade go more than 20 pips against me.

What are your thoughts?
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  • #23,854
  • Jun 19, 2012 3:31pm Jun 19, 2012 3:31pm
Looks like you are learning price action...no need for indies keep the updates coming....much appeciated

Quoting toafdawg
Glad to see that I'm thinking like the best!.

Here's an explanation of what I look for in a 'gap.' If you look at the chart below, the red rectangle shows a couple of wide range bars that open and close at both their lows and highs. Market makers need to manage risk, so they try to drive price down back to the start of these wide range bars.

Once that happens, I like to look for rainbow, or 8-light trades in the direction of the wide range bars. This was a perfect set up that I missed last night.

So I think to keep up the majors,...
Enter Signature
  • #23,855
  • Edited 1:41am Jun 20, 2012 1:28am | Edited 1:41am
Just took a new trade long @ 1.2688. Everything looks good, 2 HLs, but for some reason I don't have much confidence in it. Could be a Frankie fake.

EDIT - Felt bad about trade, got out with -4
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  • #23,856
  • Jun 20, 2012 1:46am Jun 20, 2012 1:46am
Quoting Toranaga
NO. Fast and Slow trix are the only essential. I meant der Red and Green squares. The seccond from the 3..
You mean that focus on the fast and slow trix, like the THV3, and maybe there are some rules or methods that can help me to understand the market. Could you explain or share me the experiences. Thank you very much for your help.
  • #23,857
  • Jun 20, 2012 2:06am Jun 20, 2012 2:06am
Quoting toafdawg
Just took a new trade long @ 1.2688. Everything looks good, 2 HLs, but for some reason I don't have much confidence in it. Could be a Frankie fake.

EDIT - Felt bad about trade, got out with -4
how can u trade in that mess? looks like christmass tree
  • #23,858
  • Jun 20, 2012 2:37am Jun 20, 2012 2:37am
Thanks for the positive contribution. Your comment exhibits great wisdom and understanding. Please continue to post such marvelous comments.
  • #23,859
  • Jun 20, 2012 3:30am Jun 20, 2012 3:30am
I didnt take that one because it was trading right back up into the previous area of consolidation and also the trixes looked pretty too far gone to me. I like fresher flips.

Quoting toafdawg
Just took a new trade long @ 1.2688. Everything looks good, 2 HLs, but for some reason I don't have much confidence in it. Could be a Frankie fake.

EDIT - Felt bad about trade, got out with -4
  • #23,860
  • Edited 6:18am Jun 20, 2012 3:40am | Edited 6:18am
Not the best by any means, but constantly striving to improve. Thanks for posting the chart. I think of that as momentum bars breaking consolidation. Works for me.
I have another pattern like that that I look for - it's a variation on 'gimme bars' but I use the same idea with TDI bands and instead of trading at 2 like you would with gimme bars I wait for the trend to flip to the upside.
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1) lower lows outside bands, followed by
2) lower low inside bands, with divergence, preferably also with pinbar, outside bar or some other confirmation.
3) Tdi green and red lines flip above market baseline and green breaks bands to upside as PA breaks consolidation
4) Start looking for THV signal on 1m around here.

Or vice versa of course

Quoting toafdawg
Glad to see that I'm thinking like the best!.

Here's an explanation of what I look for in a 'gap.' If you look at the chart below, the red rectangle shows a couple of wide range bars that open and close at both their lows and highs. Market makers need to manage risk, so they try to drive price down back to the start of these wide range bars.

Once that happens, I like to look for rainbow, or 8-light trades in the direction of the wide range bars. This was a perfect set up that I missed last night.

So I think to keep up the majors, and...
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