The "XO"-Method......... - page 91
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Thank you both ( ValeoFX & Pip Trip). I will try to tune back my setting.
the settings i use rsi set at 14 with level set at 50 for the cross cci set at 34 level set at 0 and ema set at 34
hi valeo i put xo mtf ind on and based on it it would have ended this move way to early even just the xo would to so if this is just an entry tool only then imo i personally dont need it cause you now entry is not as important as exit i am in no way knocking anything you have done here you have put in effort beyond the call but as we discussed before if you have an ind doing its job why have another doing same job only going to give you same info for instance if you use 2 oscillators they show same thing 1 is enogh then use a momentum ind now you are looking at market from 2 perspective and if they are in agreement then you have a better picture of whats happening just my opinion take a look at this trade this morning heres chart
Harold my friend, your chart still shows the XO and not the MTF_4FXO that I recommend. Secondly, if you followed my proposal that we exit only when the price closes above / below the 25-ema, you would not have exited the trade as early as you recommended here.
As long as you get results and we get them too, thats all that really matters. People are free to take off and add on to their own system - this one I recommend just works for me and there are others working for other people, probably even better.
To me ENTRY remains the most critical, I believe that I have exits "in the bag" so to speak.
Best wishes and looking forward to talking to you later this morning.
After been follow couple of strategies, I noticed that a lot of indicators (renamed) based on XO indicator, so I decided to check this post "XO-Method" out, and found it very solid, thanks to developer and all helpers to this strategy. Questions to those who use this method extencivly: what keep you out of flat market, and what is a hit rate of this method. I'm sorry if I don't uderstend something or misread. Cheers to everybody
Akil, if you follow the rules for a week or 2 you will see how this keeps you out of flat markets, but you need to work "in the entire market" and not just in the 5M TF.
Hit-rate is controlled by the man who pulls the trigger and I don't want you to compare your hit-rate to mine, you may be depressed in no time
You know the saying..caveat emptor. So I suggest you try it out on demo before you start live trading it, we all did. It took me months!
Akil, if you follow the rules for a week or 2 you will see how this keeps you out of flat markets, but you need to work "in the entire market" and not just in the 5M TF.
Hit-rate is controlled by the man who pulls the trigger and I don't want you to compare your hit-rate to mine, you may be depressed in no time
You know the saying..caveat emptor. So I suggest you try it out on demo before you start live trading it, we all did. It took me months!ValeoFX
What is meant by "you need to work in the entire market?" I just use your system in the 5M TF, am I missing something?
ET
ValeoFX
What is meant by "you need to work in the entire market?" I just use your system in the 5M TF, am I missing something?
ETNot at all, my friend. All I do is look at the over-all picture and take my clues from the 60M chart. Thats when I start looking at entries on the 5M chart. It is a proven fact that we as Intraday traders should use the 60M chart as our basis.
Hope this helps a little.
Best wishes.
Thanks Valeo,
I'll trade this method for week or too, then will see, if I missed something. Don't believe in demo though, will trade live. About entire market, you right, both 1hr and 4 hr charts very powerful (i'm still short cable on 4 hr from early monday), but on your tamplates you have 300 ema wich telling pretty good where we are, in term of trend, and MM indicator sets for daily tells from big picture who's rueling bulls or bears and big levels of S/R. So I think only 5 min is good enough, all tools are there. I only add camarilla, and it served well this morning.
Cheers to everyone and good trading.
Thanks Valeo,
but on your tamplates you have 300 ema wich telling pretty good where we are, in term of trend, and MM indicator sets for daily tells from big picture who's rueling bulls or bears and big levels of S/R. So I think only 5 min is good enough, all tools are there. I only add camarilla, and it served well this morning.
Cheers to everyone and good trading.I agree, the MA´s (all of them, not just the 300) on the 5m chart give a very clear picture. Visually, if the MA´s are all "fanned" and orderly in a trend (not flat) and all the other inds are "go" then the potential sucess of the trade is very high!
Finally, a big public thank you to Valeo for taking the time to fix my problems, far beyond the call of duty, a really helpful and nice guy, and a damn good system.
Sorry, but what are these files for?
Thanks