Hi Tim, firstly could you please work out what the EST times were that you are referring to as I have difficulty reproducing your trades.

Secondly, you are not using my suggested set-up so I can see immediately where you went wrong. (Where are the Pivots?)

I attach my chart for you for the time that it seems you have taken the trades and here follow my comments:

1. 1st Solid vertical line:......the price just broke the 100-EMA so therefore time to take note! RSI is very Low bu still acceptable and the Stochastic is correct - that is if you had it!! Problem for me was that the price was too close to the 300_EMA.

2. 2nd Vertical line (Broken) was a better entry then the first one, but this time the Sto was suspect and still too close to 300_EMA hence my decision to stay out of the trade.

3. 15h30 is the 3rd Line. NOTE the Sto started climbing LONG!! and so did the CCI.

4. 16h25 entry after RSI and CCI came back from overheating, but the XO was not in place. Stay out if you are inexperienced, but that is where I traded.

25-EMA EXIT:

If you are going to trade for 10 pips at a time, then it follows that the 25-EMA is not your exit strategy, but had you taken this morning's trade, the 25_EMA was THE correct exit strategy.

Having said that, I suggest you use the 13-EMA rather as it will give you better pips.

To everyone who has a problem with the EXITs:........look at your complete chart and look at things such as RSI and CCI-overheating; but also look at Pivots and the MurreyMath lines where trades will bounce / stop before they take off again.

It is futile to just use the 25_ema as an EXIT when you want to trade for 10 pips. You have to adjust accordingly.

Hope this helps and if there are further questions, please feel free to ask.

Best wishes.

Attached Images

tsd_forum_reply.gif (39.3 KB, 1004 views)

__________________
"Risk comes from not knowing what you are doing" The Tao of Warren Buffett.

"Avoiding mistakes, makes people STUPID and having to be RIGHT, makes you OBSOLETE." Robert Kiyosaki.

Hi ValeoFX,

Thanks for the very helpful insight into your trading. I have a few further questions. In #1 and 2 the price is too close to the 300EMA (<15 pips) and you stayed out, yet in #4 price was on or had broken the 300. Where you waiting for it to break through the 300 before taking the trade? What is too close to the 300 for you to take a trade? In reference to the 300 you don't take trades into the 300 but away from it is fine right?

When you entered on #4 after the RSI and CCI came back from being overheated, what let you know that this was a safe trade in the opposite direction of the last 5 bar 30 pip upward move? How are you able to determine that this is a good trade soon enough into the move to get in? Did it have to do with the Stochastic being overheating at 75, or the bounce off the 100EMA? I'm never really sure if it is a retracement or a change in direction, and usually pick the wrong way.

Sorry for my chart, I've been trying different indicators and things, and will only post your template from now on. From the looks of it, they are probably messing me up more than helping. My charts are 1 hour behind yours.

Thanks
Tim

__________________
"Risk comes from not knowing what you are doing" The Tao of Warren Buffett.

"Avoiding mistakes, makes people STUPID and having to be RIGHT, makes you OBSOLETE." Robert Kiyosaki.

Thank you for taking the time to explain things to me! You definately go above and beyond the call of duty in trying to help people! I'll try and keep these things in mind when trading.

Tim

It has to come to my attention that "certain" traders or "would-be-traders" are saying that by using the setting of 3 on the RSI, one could rather do without the indicator as "PRICE" (NB) is a better indicator of the direction.

Let me assure you, most of the indicators were well-planned and are giving excellent information whereas with the price itself, you have no clue as to where it may change direction.

Both the CCI and the RSI are such indicators and lately, the XO and a large number of others. (too many to mention here)

So, please do not be put-off by such rumour-mongers!! Trade the settings and you will see for yourself.

I am working on levels for the RSI to see if we can improve the entries with regards to the RSI and XO_signal and I will post it a.s.a.p. for I have missed-out on an entry or 2 when I misread the position of the RSI in relation to the XO_signal.

Wishing you all a wonderful weekend.

__________________
"Risk comes from not knowing what you are doing" The Tao of Warren Buffett.

"Avoiding mistakes, makes people STUPID and having to be RIGHT, makes you OBSOLETE." Robert Kiyosaki.

Valeo - You work so tirelessly and selflessly that I hate to ask such a thing, but I'm having trouble understanding this method due to coming in to this method late. I've read through the first post several times, post #998 and the first 20+ pages (unfortunately those seem largely to refer to indicators that are no longer used). Is there a certain page of this thread I should start reading from instead? Are there individual threads that explain how to read these different indicators?

If you are willing to at all, what would help more than anything would be a few marked up charts with your new template that just says briefly how to read each indicator (or maybe points to a place where that indicator is explained). Am I understanding correctly that all the indicators are like a simple 'Yes/No' reading apart from the CCI which uses Woodie patterns?

Thank you again, its really amazing how much selfless work you put into this to share with the community, I hope to be more of a helper like you in the future. '

edit: Sorry I might have been a bit premature, I'm pretty sure my screen looked a lot different than the screen print in #1017 and #1021 (I'm not at that computer now) with the dots on the RSI being all over the place.

One thing I definitely don't understand though is why there are arrow signals on the Hercs Stochastic? From your screen prints & explanations you don't seem to necessarily follow them?


Also, in Post #1007 you refer to a screen print in #1002 but I don't see anything there--is there another post you're referring to?

ValeoFX

Maybe should consider starting a new thread for this new system.

Is there an EA for this system?
Thanks

Is anyone else having this problem, my rsi dot indicator looks completely different. I've tried reloading it a few times now and don't know how to fix it.

Thanks to anyone who can help

Attached Images

XO-2.3.07.jpg (150.9 KB, 891 views)

There should be 2 indicators, RSI (red color line) and RSI_DOTS (gold color dots).
Looks like RSI is missing.