XO_Method REVISED - page 102
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"Lesson #1" on CCi-trading as I use it...............
PREAMBLE.............
The CCI saved my bacon and also in return made me enough money to call myself successful in a modest way. So, it is imperative that you understand the use of this incredible oscillator from the outset.
Far too many people contacting me either refuse to want to learn a very simple and yet, highly effective indicator and just want immediate gratification and if I am unwilling to give them the bottom line, the trash this Thread by commenting unfavourably and luckily they "go away" too.
I will do the CCI today and give you enough to be successful with for next week. Next weekend will add the RSI and the weekend after finish off the Template as I trade it.
So be warned, do NOT ask for my latest template until you have understood the use of each and every oscillator I use and how I use them in conjunction. It is VERY simple, but then I prefer to keep it that way in order to prevent confusion.
There are many people I have to thank for having helped me to get to where I am today and I have thanked most of them already at the start of this Thread, but one person stands out in the crowd as he listens to my ideas and help me reach my goals by building and modifying indicators - we have discarded many, but we kept the faith and today we are so much "richer" for having kept the faith. That man is my friend Gerhard (DayTrader) an unasuming man with a great heart and passion for trading. You are a TRUE friend not only because you give so much, but in the manner in which you give. I am honoured to be your friend.
Cci-5 ..............
The CCi-5 is purely there to keep us out of undesirable trades as I mentioned above.
Here I have now "activated" the CCi-5 on the DoublecciWoody.mq4 so that you can see what I am talking about.
To make it clear, I took off the CCi-15 in Histogram, but you have the ordinary CCI-15 in window 1 to guide you and you can quite easily replicate this on your own screen.
So what we see finally will be posted next and that is what I want you to get used to.
Any questions?
And finally what you should have.............
And finally what you should have on your Trading Template is what you see here.
I am sure the picture starts to fall into place.
Best wishes and enjoy the "homework". It is worth every minute you spent.
about the question
Valeo, thanks for your lesson, it makes me more clear about the CCI !
and about your questions on the 14h25, this is my answer:
1. there is a white arrow to show that the CCI-5 is overheat ! and in this condition, we need to wair for one candle to see if there would be a retrace !
2. the CCI-15 was still in the channel ! and also, it had not crossed the zero line !
please commet on my answer !
and also, I have a question !
please see the candle on 14h30, after the candle@14h25, we have wait for one candle, and no retrace, and at this time, the CCI-15 is under the channel and also crossed the zero line !
so, could we enter at the close of this candle @ 14h30 ?
thanks !
Valeo, thanks for your lesson, it makes me more clear about the CCI !
and about your questions on the 14h25, this is my answer:
1. there is a white arrow to show that the CCI-5 is overheat ! and in this condition, we need to wair for one candle to see if there would be a retrace !
2. the CCI-15 was still in the channel ! and also, it had not crossed the zero line !
please commet on my answer !
and also, I have a question !
please see the candle on 14h30, after the candle@14h25, we have wait for one candle, and no retrace, and at this time, the CCI-15 is under the channel and also crossed the zero line !
so, could we enter at the close of this candle @ 14h30 ?
thanks !Correct in both reasons and my question to you is, how did the price behave on the 14h30 candle in relation to the Fib-level?
I am out of here until Monday.
Correct in both reasons and my question to you is, how did the price behave on the 14h30 candle in relation to the Fib-level? I am out of here until Monday.
GOt it ! you mean the the close of the 14h30 candle is too close to the FIb-level ! so, it is risky to enter !
thanks !
and I will re-read your last 3-posts, and looking forward your next lessons on RSI !
best wishes !
Thanks Valeo for your time and effort in posting this. Its very useful, i learnt about the ZLR and other cci patterns last year, but you've explained it better and from a better perspective, thanks for this information.
cci
Thanks Valeo for a very clear and concise lesson. Creating the template yourself as you suggested certainly helped, and I am now even subconsciously looking at the cci and its levels in a different light.
Just a question, unrelated to cci tho'. Would you take a trade if it was counter to the 60/120 (direction and trend) ema's, provided the cci's agreed, and provided the price was not too close to those ema's.
Have a good weekend.
Regards
Pardy
another question
Valeo, I have a new question !
Please see your #2 entry
on this candle, we could see that, the CCI-15 crossed the Zero line, and also out the channel ! but, the close of this candle is very close to the Fibo !
so, why you entered here ? and why you do not wait for the break of the Fibo ?
wait for your answer !
thanks !