THV system, final edition
- #23,961
- Jul 4, 2012 11:58am Jul 4, 2012 11:58am
- Joined Jul 2008 | Status: #welcomebackGator | 2,418 Posts
- #23,963
- Edited 2:36pm Jul 4, 2012 2:23pm | Edited 2:36pm
- | Joined Oct 2011 | Status: In your head, eating your brain | 2,562 Posts
https://dl.dropbox.com/u/5156645/1hr%20trading.png
Went short GBPUSD once price broke through the 4hr Fractal support line (only additional non-THV indicator I use...there's a few of them floating around, or you can use pipware's dashboard).
Reason for going short:
1) Price is below the coral.
2) Price broke through an important fractal support line in addition to the coral.
3) The fast trix crossed the slow trix downwards and both are red.
4) Stochiastics are against me (green) but going sideways so I don't really care.
Entry: 1.5653
Stop loss: Trailing stop based on the 5 EMA shift 3.
Still in the trade at c. 55pips profit...almost got kicked out, but seems like I get another chance at riding this as long as I can
I know most of my indicators are pipware and not THV, but it's really the same system apart from adding an additional indicator. Notice how my trade rational doesn't use the dashboard apart from it drawing the fractal support/resistance lines (based on 1hr/4hr/1d charts), and there's other indicators out there that do the same thing. Or you can draw them manually or use something like Fibonacci...up to you, they're mostly close together anyway. If I piss anyone off posting this, my bad, won't do it again
By the way, notice the lovely Oanda 4th July spread. Wasn't like this in the morning when I entered the trade...
I've been using this THV system for a while now, and all I can say is: THV for the win, brilliant system...you just have to be disciplined to stick with it and don't overtrade.
Regarding "take profit" and "stop losses"...I think using fixed values is bad. Why? Because I want to let my winners run as faaaaaaaaar as possible, which a fixed system won't allow. Having fixed stop losses isn't great either because trading situations vary. At least base it on something and don't just use an arbitrary number that sounds good in your head. I mostly use the EMA as stop loss, and it allows me to ride a large part of the moves. Sometimes I'll set the initial stop loss above a resistance line or below a support line until a trade takes off, or if price is still too close to the EMA.
Also, I use this mostly as a breakout strategy. However, if price bounces back and forth between a relatively narrow support/resistance line, I buy/sell as of the 3rd bounce unless Trix is against me. Pretty good way to also exploit ranging pairs a bit. The average profit is of course lower though
Went short GBPUSD once price broke through the 4hr Fractal support line (only additional non-THV indicator I use...there's a few of them floating around, or you can use pipware's dashboard).
Reason for going short:
1) Price is below the coral.
2) Price broke through an important fractal support line in addition to the coral.
3) The fast trix crossed the slow trix downwards and both are red.
4) Stochiastics are against me (green) but going sideways so I don't really care.
Entry: 1.5653
Stop loss: Trailing stop based on the 5 EMA shift 3.
Still in the trade at c. 55pips profit...almost got kicked out, but seems like I get another chance at riding this as long as I can
I know most of my indicators are pipware and not THV, but it's really the same system apart from adding an additional indicator. Notice how my trade rational doesn't use the dashboard apart from it drawing the fractal support/resistance lines (based on 1hr/4hr/1d charts), and there's other indicators out there that do the same thing. Or you can draw them manually or use something like Fibonacci...up to you, they're mostly close together anyway. If I piss anyone off posting this, my bad, won't do it again
By the way, notice the lovely Oanda 4th July spread. Wasn't like this in the morning when I entered the trade...
I've been using this THV system for a while now, and all I can say is: THV for the win, brilliant system...you just have to be disciplined to stick with it and don't overtrade.
Regarding "take profit" and "stop losses"...I think using fixed values is bad. Why? Because I want to let my winners run as faaaaaaaaar as possible, which a fixed system won't allow. Having fixed stop losses isn't great either because trading situations vary. At least base it on something and don't just use an arbitrary number that sounds good in your head. I mostly use the EMA as stop loss, and it allows me to ride a large part of the moves. Sometimes I'll set the initial stop loss above a resistance line or below a support line until a trade takes off, or if price is still too close to the EMA.
Also, I use this mostly as a breakout strategy. However, if price bounces back and forth between a relatively narrow support/resistance line, I buy/sell as of the 3rd bounce unless Trix is against me. Pretty good way to also exploit ranging pairs a bit. The average profit is of course lower though
- #23,965
- Edited 10:40pm Jul 4, 2012 9:55pm | Edited 10:40pm
- Joined Jul 2008 | Status: #welcomebackGator | 2,418 Posts
- #23,966
- Jul 4, 2012 9:59pm Jul 4, 2012 9:59pm
- Joined Jul 2008 | Status: #welcomebackGator | 2,418 Posts
- #23,967
- Jul 5, 2012 1:54am Jul 5, 2012 1:54am
- Joined Apr 2011 | Status: Hoc Etiam Transibit.... | 6,114 Posts
I use this system as an addition to my messy spaghetti charts and indicators. Combined with CCI + MTF analysis, its performance looks exceptional! You even don't need to follow strict rules of the original writers. Simply when it looks bullish, you buy, and when it looks bearish, you sell. That's it! Quite simple and easy.
Simplicity is the ultimate sophistication - Leonardo da Vinci
I use this system as an addition to my messy spaghetti charts and indicators. Combined with CCI + MTF analysis, its performance looks exceptional! You even don't need to follow strict rules of the original writers. Simply when it looks bullish, you buy, and when it looks bearish, you sell. That's it! Quite simple and easy.
HI heispark !
can you post a screenshot of your chart please ?
thanks in advance !
best
BV
- #23,971
- Jul 5, 2012 3:27am Jul 5, 2012 3:27am
- Joined Apr 2011 | Status: Hoc Etiam Transibit.... | 6,114 Posts
HI heispark !
can you post a screenshot of your chart please ?
thanks in advance !
best
BV
Simplicity is the ultimate sophistication - Leonardo da Vinci
- #23,974
- Jul 5, 2012 5:25am Jul 5, 2012 5:25am
- Joined Apr 2011 | Status: Hoc Etiam Transibit.... | 6,114 Posts
Hi heispark
I do not understand how you can trade with sOOO many indicators. I am new to this forum and seriously have been a pro trader for many years. I originally hand drew my charts and it took me many years to finally computerise my trading. I still however hand draw the USD/JPY hourly chart. All indicators lag, that is why I use price action. Finally a while ago I discovered Heikin-Ashi and its real time indicator haDelta. This is all I use as well as Gann master pivot points. Not a holy grail however I maintain an average of 65% win rate...
First of all, I am not a good trader and I am still learning. I know almost all indicators are lagging and I also see PA, Pivots and Finonachi as leading indicators. Some people say people can trade without any indicators and insist PA's single only enough tool for trading. There are hundreds of thousands of lagging indicators, however, some of indicators are really useful whether they are leading or lagging. Recently, I rediscovered CCI and while I made a research, I came across TASAYA system in this site. Also, I found Woodie's CCI system is useful. (CCI's less lagging and even can be leading according to Woodie). You may find some more clues when you read threads in TASAYA. Although I have hooked many indicators in my chart, I mainly use only a couple of them. The others just make me feel 'comfortable' since I've used them for years. I'm interested in your HaDelta and I'm gonna make some research on it. Thank you for your tip!
Simplicity is the ultimate sophistication - Leonardo da Vinci
- #23,977
- Jul 6, 2012 10:45am Jul 6, 2012 10:45am
- | Joined Oct 2011 | Status: In your head, eating your brain | 2,562 Posts
Hi BorisViven
I believe in the Keep It Simple Stupid System.
I specialise I trade the Usd/Jpy only and I trade using Daily and hourly charts only. I mainly use price action and hand draw my hourly chart as well as manage my computer charts. Why hand draw in this computer age you might well ask, well it keeps me in focus. I get a feel for the market,I get to understand all its idiosyncrasies, how it moves,why it moves. Over time I have developed a set of Gann Master Pivot Points that I use. When I first started trading the forex I tried all on...