XO_Method REVISED - Page 38

ValeoFX · #**371** (**permalink**) 04-14-2008, 02:34 PM

I am giving you my last trade entry here and will try to give you the first 2 just after this, just bear with me, please.

I wish to point out to you not only the entry, but check out the price in relation to the 8-EMA. The point I made in describing how I trade it is quite evident when you look at the candle @ 08h30 EST (NB).

What happened here is precisely why I mentioned that you should only close the trade when the price closes above/below the EMAs. As the EMA-8 moved closer to the EMA-15, there was no reason to panic, so you use the EMA-15 as your base and if it continuous to close the gap, one may switch to the EMA-28 depending on the longer charts.

At this point here the price put its foot out, but pulled it back to continue the trade.

You should still be in the trade unless the Longer charts (H1 and H4) tell you differently. (In this instance I closed my trade for +118 as I "read" that the trade has "run-out").

Best wishes,

ValeoFX · #**372** (**permalink**) 04-14-2008, 02:46 PM

TO ANYONE UNFIMILIAR WITH MY METHOD OF TRADING, PLEASE IGNORE THIS EXAMPLE AS I HAD POSTED A CHART AFTER A POWER OUTAGE AND THEREFORE THE RSi-VALUES YOU SEE FOR THE H1 AND H4 TFs, ARE INCORRECT!!!! THEY DO NOT REPRESENT WHAT WE HAD IN REAL TIME. IN FUTURE I WILL RATHER MISS THE PLACING OF SUCH A CHART THAN CONFUSING SOME. MY SINCEREST APOLOGIES.

Without much explanation, see whether you agree with these entries. In my instance I did NOT trade the short marked 10h30, but it was legit imho. I would like to hear your opinions on that short please.

Best wishes.

suk1000k · #**373** (**permalink**) 04-14-2008, 02:58 PM

The first chart was very difficult for me because the CCI became overheated. I got in on the second base though for 40 pips as desribed above when the Turbo went AWOL then turned back towards CCI. I can see what you're saying about the close beneath the EMA not being there. How did you feel about the overheated CCI? Or are you manning the stops based on the EMA's regardless?

suk1000k · #**374** (**permalink**) 04-14-2008, 03:25 PM

On the 5 minute chart, windows 4,5 (1 and 4 hourly RSIs) the colors seem to be reversed.

On the 1 hourly chart and 4 hourly chart themselves, RSI 4 is green, 2 is red. Seems to be reversed for 5 minute chart...

Otherwise it looks amazing...

I will be keeping basic charts open without indicators (apart from MACD, Keltner Channels) so I don't miss the obvious

RE 10:30 short. 4 hourly RSI was not in alignment.Wouldn't that also make 9:10 also a short? There's possibilities there for sure by the looks, but to me it seems like playing with fire a little with the CCI in long mode an gently coming back from a 165 retrace...from recent activity it seems as though 1 hour chart RSI being in place is more important when it comes to intraday trades and getting in and out of market pretty quickly eg 8-20 points. Please keep sharing your thoughts, ValeoFX, it is unbelievably helpful...

Also if you can explain thinking through from weekly to 5 minutes for an example trade or two it would help put the whole thing together as a complete system. Many, many thanks to you.

ValeoFX · #**375** (**permalink**) 04-14-2008, 03:39 PM

Quote:

Originally Posted by suk1000k

The first chart was very difficult for me because the CCI became overheated. I got in on the second base though for 40 pips as desribed above when the Turbo went AWOL then turned back towards CCI. I can see what you're saying about the close beneath the EMA not being there. How did you feel about the overheated CCI? Or are you manning the stops based on the EMA's regardless?

Suk, I did not have an overheating CCI-5 on my entries. I stick to my rules as far as the CCI-5 is concerned. You will see that I mentioned it again in my Post regarding the M5-Trading earlier today.

ValeoFX · #**376** (**permalink**) 04-14-2008, 03:48 PM

Quote:

Originally Posted by suk1000k

On the 5 minute chart, windows 4,5 (1 and 4 hourly RSIs) the colors seem to be reversed.

Oopsssssssssssssssssss, sorry for that.I should have mentioned that I have changed it around so that I have GREEN showing a LONG and RED showing the SHORT. Please could you make those changes (if you wish) but it works better for me that way. Thanks for pointing that out to me, Suk. Much appreciated.

On the 1 hourly chart and 4 hourly chart themselves, RSI 4 is green, 2 is red. Seems to be reversed for 5 minute chart...

Otherwise it looks amazing...

I will be keeping basic charts open without indicators (apart from MACD, Keltner Channels) so I don't miss the obvious

RE 10:30 short. 4 hourly RSI was not in alignment.Wouldn't that also make 9:10 also a short? There's possibilities there for sure by the looks, but to me it seems like playing with fire a little with the CCI in long mode an gently coming back from a 165 retrace...from recent activity it seems as though 1 hour chart RSI being in place is more important when it comes to intraday trades and getting in and out of market pretty quickly eg 8-20 points. Please keep sharing your thoughts, ValeoFX, it is unbelievably helpful...

Yes, you are correct regarding the RSi for H4, but also correct in terms of RSi-H1 and with a choppy market, one could have tried the short providing you do not want more than 15 - 20 pips at a time PLUS a bonus if it looks like it. When the H4 is NOT in agreement with H1, do not look for a whole bucket full of pips.

Also if you can explain thinking through from weekly to 5 minutes for an example trade or two it would help put the whole thing together as a complete system. Many, many thanks to you.

It is my responsibility to share with you guys and such an honour to share. I will write out the sequence as requested and post it later.

Best.

Big Joe · #**377** (**permalink**) 04-14-2008, 03:50 PM

Quote:

Originally Posted by ValeoFX

Without much explanation, see whether you agree with these entries. In my instance I did NOT trade the short marked 10h30, but it was legit imho. I would like to hear your opinions on that short please.

Best wishes.

Short above the moving averages !

NO WAY !

ValeoFX · #**378** (**permalink**) 04-14-2008, 04:10 PM

Quote:

Originally Posted by Big Joe

Short above the moving averages !

NO WAY !

Hi Joe, just look at the RSi s my friend together with the CCi-5. It is NOT my style, but you could have banked at least 20 pips.

Please check your home e-mail. I sent you mail and a request.

Big Joe · #**379** (**permalink**) 04-14-2008, 04:57 PM

Nothing i have on my mail

Joe SDF · #**380** (**permalink**) 04-14-2008, 09:33 PM

ValeoFX - So as to not confuse the issue, my vote is for a separate thread for the new methodology.
Best regards,
Joe SDF

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