XO_Method REVISED - page 57
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Need this entry be explained?
Perfect example of when the CCi-5 overheats and come back to "re-load" - notice how the price closed BELOW the 8-EMA upon entry. My stop was @ 78 (-11 pips) and stayed 4 pips above the Orange-EMA.
Banked +50 on the overheating 09h00 candle. Check H1-chart for confirmation.
Good trading to all.Valeo,
Could you explain this trade in a bit more depth. I entered at the same time that you did, but went out at -3 pips during the 8:30 candle. I was trailing my stop at the 15MA -spread. How did you know to stay in?
I did re-enter at the close of the 8:40 candle for a total of +12. I did not exit at the 9:00 candle, but at the retrace of the 9:35 candle, and I am not sure what you were looking at to tell you to exit.
James
Hi James,
Got to admit I'm finding your trade very difficult to understand. I've done what I can below to show you where I would be looking at potential entries (white squares) and exits (blue squares).
I personally would have exited on the candle which overheated the CCI either the first or second time. Particularly the second time. This kind of move is called a "blow off" IMU (in my understanding) and is so steep in gradient that it is likely to offer a retrace after IME (in my estimation).
But as for the trailing stop, I cannot understand it. The market is so choppy after you entered that I would need to probably exit at a small loss and seriously reaccess my position and goals of the trade due to closes above/below all the moving averages.
Keep trying --- ppppppppp.
Suk1000k's 9 P's of trading...
Patience. Persistence. Perseverence. Prior Proper Planning Prevents Poor Performance = the 10th P --- pips
I'm confused. What you are calling my 'Second Entry' is actually my exit. I had trailed the stop at the 15MA - spread.
Are you saying I should have exited when the 5m RSI crossed down? One or two candles before my exit?
Or when the 1hr RSI crossed down 1 candle before my exit?Yes, you should have exited when the M5 RSi-setup crossed down from an overheating point - also, never go broke when you have been up by >10 pips EVER. Rather bank +1 then go broke, my friend.
The exit was in fact at the overheating LONG-candle's close!! Pay attention to your bigger picture; you had a Yellow Candle PLUS the Gann-level where it closed. (+17 or at worst +11 for you here).
Best wishes for better trades ahead.
Maybe we need to talk again???
2nd entry this morning..............
Notice that the M5-TF's RSi-setup never broke the RSi-8 until entry time @ 10h10??
Also, the price bounced off the Orange-coloured EMA. (Guess the setting of this EMA plse) and also the Magenta one above. Magic!! Thank you Lord.
Keep a keen-eye guys. The RSis are "GEMS" just to be picked out.
We are getting closer and closer by the day almost. Thank you for your support guys. Much appreciated.
Yes, you should have exited when the M5 RSi-setup crossed down from an overheating point - also, never go broke when you have been up by >10 pips EVER. Rather bank +1 then go broke, my friend.
The exit was in fact at the overheating LONG-candle's close!! Pay attention to your bigger picture; you had a Yellow Candle PLUS the Gann-level where it closed. (+17 or at worst +11 for you here).
Best wishes for better trades ahead.
Maybe we need to talk again???Valeo,
Thanks for the clarification. I see what you were looking at, and your right there was no need to take a loss on this trade, or to exit with any less then 10 pips.
I guess I am just expecting every trade to the 'runner', and I am worried about exiting too early, which I did the other day and missed out on 50 pips.
I will continue to hone my skills!
As far as talking again.. any time. I have quite a few charts that I would like to discuss with you.
James
Valeo,
As far as talking again.. any time. I have quite a few charts that I would like to discuss with you.
JamesLet us set it up tomorrow morning after the first trade. I will open Yahoo.
Best wishes.
Let us set it up tomorrow morning after the first trade. I will open Yahoo. Best wishes.
Hi Valeo,
Could you give the link that direct to all indicator & template. I try to find at first post but nothing link or attachment file there. Thanks.
Current XO rules and indis
indicators and rules of the latest would be great ( or if you could point me in the right direction please- sorry i couldnt find it all).
Seeing the potential here Im pumped and thanks for putting in so much effort Valeo and every other contributor!
What was the reason for changing so drastically from the first post? It seemed much more rules driven which is good (for those of us that like to remove emotion from our decsions). Im wondering if it makes sense for me to study that first post of this thread or is it not very profitable? Some guidance would help so much.
Thanks!
Radicalboy
Rules and Indis
Okay so going over all the posts it seems that the rules and indis for the latest more discretionary XO version is on page 32.
The more rules based one has indis on page 24 but the rules are on the first page and then modified on that page 24.
Follow thread from here.
https://www.mql5.com/en/forum/176163/page21
There is a pdf update every so often where I've put ValeoFX's posts in to a pdf doc.