The "XO"-Method......... - page 8
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Hi Maury, yes it is a nice place to live, thx. Come and visit some time. Read the explanation earlier about how the XO operates. It defeats the purpose to refresh as it works in the "now" - one needs confirmation with the CCI imho - or something else for those not trading the cci. It has given pips all the time when used correctly on the GBP/USD that is.
Thank you Valeo!!!
and about South Africa....I have been there for 3 weeks....my honey moon!!
Hi
Dan s
Have you exited from previsour long cable which was at 11.25 , if yes what was the condition followed. or you have not exited and now you have 2 long cables.
You didnt trade the signal Valeo? How do you know if there is enough volatility when trading to the right side of the chart?
Dan, watch the market!! It is pointless in trading just because the signal is there. Remeber, I am trading live and with quite a number of full lots, so I cannot take trades unless I am sure that it will produce. You will soon get the hang of it, just watch the method and look at the time of the day when markets are tarditionally less busy.
Hi
Dan s
Have you exited from previsour long cable which was at 11.25 , if yes what was the condition followed. or you have not exited and now you have 2 long cables.I exited the 11:25 signal with -11 when 2 XO`s went red.
I updated it in the previus post.
The last signal I posted from 12:40 I exited at +12 with a trailing stop since I needed to go afk.
Dan, watch the market!! It is pointless in trading just because the signal is there. Remeber, I am trading live and with quite a number of full lots, so I cannot take trades unless I am sure that it will produce. You will soon get the hang of it, just watch the method and look at the time of the day when markets are tarditionally less busy.
Yes, but this brings a great deal of discretion to a rather technical approach.
Whats the point in having pinned down chrystal clear technical entry/exit rules when I have to make a discretionary decision whether a signal is valid to be traded or not?
As I said before, I noticed that cable is in the chop zone before.
Today was most likely a bad day to trade any trend following method because the market was waiting for the FOMC rate decision.
What times do you recommend to take trades Valeo?
There were some beautiful signals in early asian session today.
Short cable made me +38 and long u/j +6 (following the exit rules this trade would give more than +50, but I took the +6 since I was scared to be in another chop
)
Spot on! Now we are in sync. Just for those who don't know why we did not trade this one, we need to look at volatility too. Therefore, I am convinced that we cannot have an EA for this method. Nevertheless, for those of us sitting at our desks, it is a tremendous help. Thank you again, Dan.
Dan, watch the market!! It is pointless in trading just because the signal is there. Remeber, I am trading live and with quite a number of full lots, so I cannot take trades unless I am sure that it will produce. You will soon get the hang of it, just watch the method and look at the time of the day when markets are tarditionally less busy.
Hi ValeoFX,
Your two postings above caught my attention. I've hear the GBP/USD is a very active pair. I don't know if that is what translates as "volatility." (but I suspect it is!)
Am I correct to assume the XO system should be traded in more active markets, such as the London and early NY sessions?
I've been reading this forum for some time and gathering information that will one day become part of my "gut feeling."
Thanks for your help Valeo, much appreciated!
moneyline
What times do you recommend to take trades Valeo?
I trade just London and USA, Dan.
Hi ValeoFX,
Your two postings above caught my attention. I've hear the GBP/USD is a very active pair. I don't know if that is what translates as "volatility." (but I suspect it is!)
Am I correct to assume the XO system should be traded in more active markets, such as the London and early NY sessions?
I've been reading this forum for some time and gathering information that will one day become part of my "gut feeling."
Thanks for your help Valeo, much appreciated!
moneylineI see you can already trust that "gut-feeling" of yours. Yes, I only trade London and NY. Best wishes and thank you for hanging in there with us.