XO_Method REVISED - page 50
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Hi ValeoFX. Thanks for the continued updates, there are plenty of examples now which is exactly what was requested and these can continue with gratitude of all of us. You are being very generous here.
If I had a request it would be to ask you to go through exactly what you see, feel and hear internally that gives you such conviction when you trade. It seems you have a very clear idea of where the market is headed from your charts.
Another top down analysis from the weekly down to the hourly tomorrow with everything you are seeing on your charts, how you feel about that and what the market is telling you on the inside would be invaluable to me who is faithfully attempting to "model" your strategy by following this thread. I know I'm asking a lot of labour (or should I say LIBOR) but it would be amazingly helpful to really be able to elicit the thinking process you are going through in order to be successful with this strategy, not just for me, but for everyone.
Some questions you may want to consider:
What do you believe about the market right now? What do you believe about yourself in terms of ability to make a lot of pips? What would we need to believe in order to make a lot of pips from this strategy? What about the market makes you feel the way you currently do? What does your intuition/unconscious/mind/market tell you about the trading opportunities today? What are you looking for to signal your trade today? What do you see in the indicators, how do you feel about each one and what do you tell yourself about what you see?
Just a few ideas. I hope you accept the further probing.
As for me, I have gone back to adding some indicators that were getting very dusty in the folder. One's I never used to like, but do serve a purpose now. The ones I'm talking about are the FXTrend indicator and the Forex Freedom bars. I also have a second dedicated chart with the complete XO Method (+ Volumes w/ 13EMA + Sidewinder + Chopzone). I am using an indicator called Standard Deviation channels on the H1 chart as well.
Suk1000k
Hello Valeo,
Just to tell you and Suk, that i'll be back on wheels next week
Take care, i'm very hungry from pips.
Suk's request............
Hi Suk, for me to do all of what you asked for here, is impossible as it means me getting here at least 90m before Europe opens as I have to read and record each TF. But what I am prepared to do, is to attempt that tomorrow night after trades and discuss each TF as I look at them every day.
I will attempt to answer most of your questions in the process. All you need to do is to follow the same procedure every morning at least 30m prior to Europe opening.
Best wishes.
Hi ValeoFX, that is great great of you, ValeoFX. I found the commentaries extremely helpful so far and in the past week have ALMOST (dare I say) increased my account by 50% - and I've made hardly any pips either. I hope I'm not tempting fate by saying the above. At the same time, I'm hungry to get more stable and consistent results to the point where I can launch my friends/family/investor account with integrity and pride.
I noticed the RSI 2 bounce of the RSI 4 on the H1 chart and took a long at 1.9720 (below the moving averages, but two or three closes above EMA 8 with CCI crossed, XO up, ASC_Trend and importantly for me the H1 RSI 2 bounce of 4. It's gone more than 50 pips now, but I had to exited very prematurely because I felt the EMA60 was holding too strongly and suddenly felt price could go either way here - fear. In other words my emotions on one hand got better of me. But I did exit at profit. The fact I'm currently leaving many many pips on the table with this system right now (I feel) is actually quite a good and promising thing because I am able to improve on the performance the more time spent in front of chart. So I'm very grateful for the opportunity. This reason is also why I'm continuing to ask questions and request further help such as in the above post, because I'm probably not alone.
Hi ValeoFX, that is great great of you, ValeoFX. I found the commentaries extremely helpful so far and in the past week have ALMOST (dare I say) increased my account by 50% - and I've made hardly any pips either. I hope I'm not tempting fate by saying the above. At the same time, I'm hungry to get more stable and consistent results to the point where I can launch my friends/family/investor account with integrity and pride. I noticed the RSI 2 bounce of the RSI 4 on the H1 chart and took a long at 1.9720 (below the moving averages, but two or three closes above EMA 8 with CCI crossed, XO up, ASC_Trend and importantly for me the H1 RSI 2 bounce of 4. It's gone more than 50 pips now, but I had to exited very prematurely because I felt the EMA60 was holding too strongly and suddenly felt price could go either way here - fear. In other words my emotions on one hand got better of me. But I did exit at profit. The fact I'm currently leaving many many pips on the table with this system right now (I feel) is actually quite a good and promising thing because I am able to improve on the performance the more time spent in front of chart. So I'm very grateful for the opportunity. This reason is also why I'm continuing to ask questions and request further help such as in the above post, because I'm probably not alone.
How about a picture, Suk? Makes life a lot easier
Here is the long I mentioned.I now realise my mistake in that The testing of th EMA that was concerning me might have been an inevitable forerunner to the breakout. The great early signal which made me jump in on the trade almost as soon as break above 8EMA on close was "old faithful" the XO MTF on M5 believe it or not.
Suk
I apologise for not posting yesterday, but for some strange reason I could not load my charts.
Suk, although you were successful with your trade (and I congratulate you for that), I do not agree with your reading of the triple bottom on the H4-chart. That is not a triple bottom according to the description given me and on the web for what a triple bottom is; but that is besides the point.
It was a very difficult entry for newbies and I will post my charts later. The chart following is my chart to show the short entry yesterday and I will also just briefly tell you why.
This morning's trade was not an easy one yet again, but that is the only way we can learn.
Wishing you well for today and always.
Yesterday morning's entry
Here is the belated entry for yesterday, but I wish to point out some very imporatnt points. Trust you guys made loads of pips yesterday.
Firstly, the first signal was @ 07h30, BUT at the same time the CCi-5 overheated - so to me that is NO ENTRY. The next 2 candles also overheated and we were expecting the retrace to be imminent. The retrace hit the 34-EMA and bounced back off it, with the RSi-H1 showing you the entry @ 08h20 close @ 1.9718.
Had you decided to Bank the first time, the second entry was @ 09h05 @ 1.9705, when yet again the H1-RSi gave the entry.