The "XO"-Method......... - page 12
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Hi Valeo, thanks for the link!
I've been watching the Woodie CCI and it appears to be quite good for trend direction. Since the start of London it has indicated an up trend in spite of what the other indicators say. So far it's 100% correct.
moneyline
I must admit that trading the Woodies and it's derivatives is a whole new educational experience and well worth the time and effort...and this is from me ( also a near newbie) and I feel I am just scraping the surface.
Work hard and we will get there!!!!
Cheers
Ant
I must admit that trading the Woodies and it's derivatives is a whole new educational experience and well worth the time and effort...and this is from me ( also a near newbie) and I feel I am just scraping the surface.
Work hard and we will get there!!!!
Cheers
AntAnt, let us rather work smarter than harder. With your help and everyone else on this forum, we will make it. Best wishes for the weekend.
Since we are using the Woodies Double CCI indicator, attached you'll find a PDF with the finer nuances of using it.
moneyline
Since we are using the Woodies Double CCI indicator, attached you'll find a PDF with the finer nuances of using it. moneyline
Thank you for this information. Everyone should study it carefully, but I am posting below "indication" for entries this morning. Study these carefully, please everyone.
GBP/USD entries this morning.....
This morning's trade GBP/USD:
The first signal of an "overheating"-cci was at 02:00 am est, however the method kept you out.
Now watch what happens next:- BOTH the cci's retrace and when the "signal" comes from the XO-method, the CCIs are correctly positioned in a downward position. Entry for ±24 pips, when it bounced off the 300-EMA (which represents the 50-EMA on the 30-m chart).
My next entry was at 03:55 est @ 1.8900 and this is where you need to pay attention: the CCI-t was at -180 (overheated), however the CCI-14 was at -133 and correctly positioned for the short. I banked +44 on that run using the 1-m chart to assist in getting a better price.
The cci-14 hit the -250-line @ 04:05 est, but as you are in the trade, stay in and "listen" to the "XO"-method.
Hope this helps a little and wishing you lots of successful trades ahead.
I have changed my 15m setting to 15/7 from 15/5 to try and reduce the number of whipsaws we experienced last week Thursday and especially Friday. Let us continue to test and refine, please.
Best wishes for this coming week.
I will construct a Daily / 4-Hrly / 60-m / 30-m this afternoon (my time). I tried to make it Weekly, but the XO won't take the numbers. Maybe someone can check that out over the weekend, I might be a tortoise.
It may just be of value in determining direction for us Intra-Daytraders.
Go to Woodies' website, where you can get yourself burried for the next 3 months
: The site is here: http://www.woodiescciclub.com/index.html
Hope this helps. Pleasant weekend.
Valeo, thanks for the indicators and instructions. Also, thanks to Kalenzo for the alerts.
It may have been stated already, but the weekly inputs of 10080 and 10 appear to work. The alerts are a great help. One suggestion is that the user could define the criteria for the alert, such as if 2 indicators change (indicating closing the trade) or if 3 are in agreement so that it'll be a warning that a trade may be about to occur. Also, I know it's possible for some alerts to be sent to email address's, is it possible with this one? I saw an indicator that had this function in the inputs, but I'm not sure if others can be done through Metatrader or just ones that are specifically designed for it.
I will construct a Daily / 4-Hrly / 60-m / 30-m this afternoon (my time). I tried to make it Weekly, but the XO won't take the numbers. Maybe someone can check that out over the weekend, I might be a tortoise.
It may just be of value in determining direction for us Intra-Daytraders.
Go to Woodies' website, where you can get yourself burried for the next 3 months
: The site is here: http://www.woodiescciclub.com/index.html
Hope this helps. Pleasant weekend.
Valeo, thanks for the indicators and instructions. Also, thanks to Kalenzo for the alerts.
It may have been stated already, but the weekly inputs of 10080 and 10 appear to work. The alerts are a great help. One suggestion is that the user could define the criteria for the alert, such as if 2 indicators change (indicating closing the trade) or if 3 are in agreement so that it'll be a warning that a trade may be about to occur. Also, I know it's possible for some alerts to be sent to email address's, is it possible with this one? I saw an indicator that had this function in the inputs, but I'm not sure if others can be done through Metatrader or just ones that are specifically designed for it.Kalenzo is enjoying a much deserved holiday with his parents at the moment, so unless we get one of the other bright programmers to do what you are requesting (please guys?), we will have to wait for his return. I am sure it is possible with the talent that is around this forum.
Wishing you profitable trades.
This morning's trade GBP/USD:
The first signal of an "overheating"-cci was at 02:00 am est, however the method kept you out.
Now watch what happens next:- BOTH the cci's retrace and when the "signal" comes from the XO-method, the CCIs are correctly positioned in a downward position. Entry for ±24 pips, when it bounced off the 300-EMA (which represents the 50-EMA on the 30-m chart).
My next entry was at 03:55 est @ 1.8900 and this is where you need to pay attention: the CCI-t was at -180 (overheated), however the CCI-14 was at -133 and correctly positioned for the short. I banked +44 on that run using the 1-m chart to assist in getting a better price.
The cci-14 hit the -250-line @ 04:05 est, but as you are in the trade, stay in and "listen" to the "XO"-method.
Hope this helps a little and wishing you lots of successful trades ahead.
I have changed my 15m setting to 15/7 from 15/5 to try and reduce the number of whipsaws we experienced last week Thursday and especially Friday. Let us continue to test and refine, please.
Hi Valeo, thanks for the post above. I have read the information on the Woodies Double CCI and wondered how closely you used or followed that indicator. I also converted the time frame to my charting application and followed the moves you describe above.
I like the Woodies indicator, but I'm more inclined to use it for bigger moves - such as yours - because if you follow the rules posted in their eBook, in many cases you won't be in the trade long enough to even cover your spread, much less make profit! Furthermore, you could encourage your broker to accuse you of scalping, since many of the by-the-book strategies won't produce but a pip or two.
Furthermore: Are there instances you've seen where the CCI did a Zero Line Reject, and the first bar after that was so favorable (near the zero line!), that you can disregard not having a full set of XO signals?
moneyline
Hi Valeo, thanks for the post above. I have read the information on the Woodies Double CCI and wondered how closely you used or followed that indicator. I also converted the time frame to my charting application and followed the moves you describe above.
I like the Woodies indicator, but I'm more inclined to use it for bigger moves - such as yours - because if you follow the rules posted in their eBook, in many cases you won't be in the trade long enough to even cover your spread, much less make profit! Furthermore, you could encourage your broker to accuse you of scalping, since many of the by-the-book strategies won't produce but a pip or two.
Furthermore: Are there instances you've seen where the CCI did a Zero Line Reject, and the first bar after that was so favorable (near the zero line!), that you can disregard not having a full set of XO signals?
moneylineMoneyline, always nice to hear from you. Yes, there were times when I just simply wanted to "pull the trigger" after a ZLR, but I resisted the urge. However, it just made the entry "sweeter".
I don't use all Woodies' entries as you mentioned. I stay with "XO-method" and use CCI as confirmation.
Here is some further finetuning I found to be more accurate:
Change the settings to: 60/7 ; 30/7; 15/7 and 5/10. This looks very promising indeed.
Your comments are valued.