XTL extention

[Ainsley]

Regarding the daily XTL- my experience with stocks in the ASX

I have noticed that
- the 1.5 ext really needs to be coupled with

- constricted bolingers

- a break through the elipse

- and supporting trend on the weekly (if not a current support trend at least some indication of a new support of trend)

- the parabolic sars and the elipse study are great coupled together as indication of a supporting weekly

Is there another means more effient anyone can suggest

[fabrizio]

No

My advice is to use the XTL AS IT IS ONLY according to the indications supplied by Tom Joseph and available on this BB or in the Manual .
You can follow the honorable Mike Quanbeck methodology wich simply couple the factor VOLUME to the XTL.
Which is a quite simple and logical coupling : when volumes dry up.........

You can follw either what youy desire, but XTL is FINE AND EFFICIENT AS IT IS. Trust me.

For this purpose I enclose IN THE POST ABOVE THIS ONE the AUTOXTL : an efs that is a Trade sys. himself.
AFTER THE BREAK OUT FROM A BLACK
BAR TO A COLOURED ONE It will PLOT AUTOMATICALLY the Entry point, The stop loss Point and the Exit point calculated on a R/R ratio of 1.618 FROM YOUR STOP.

More than this.......

[fabrizio]

FOR AINSLEY

HERE IS THE EFS

[Ainsley]

There are many trades I would be stopped out in with the 1.5 ext alone

This is why I like to have indications of current support and up and coming support

Volume is something I didnt consider


thanks

[fabrizio]

First of all the RR is 1.6 and not 1.5.
The only thing of great relevance getting close is actually SQRT of 2 ( 1.414214) (sorry for the previous typo) .
As a matter of fact i use it in TIME since volume has no relevance for me either.

However you quested on XTL , and you have been answered.

We all make money using every now and then XTL Tom Joseph included , Andy Bushak included just to name a few..

I do it just for relax purposes.

Support? Resistance? we mixing aplles with pears. Read well all the material on XTL and you'll understand. Let's rather talk about RTC and STD .
Or drop it.

Good luck.

[Ainsley]

Time - which way

Thanks Fabrizio, very helpfull, now heres a scenario that i've been contemplating, maybe you can put some thought to it.

Should the Daily, Weekly and Monthly charts be looked at independantly or do you take the daily to make the weekly etc.

So the question redefined is, do you find a stock with a supporting Monthly and Weekly chart and then look to buy in on the weakness of the daily.

So this would see all three time views used to pick the entry on the daily.

Is this overkill??

[fabrizio]

Re: Time - which way

>Should the Daily, Weekly and Monthly charts be looked at independantly or do you take the daily to make the weekly etc.

I do Start from Monthly all the way down through the tf I wan to work with. As you know they are - by law ofr nature- correlated. So Higher TF gives you info that lower TF don't and Viceversa

For what is specific for XTL I suggest to use it ìAS a SYSTEM on short tf : 5min, 15 min, 30 Min. ; 5 Min -IMHO - is the most interesting for rapid number of breakouts.

>So the question redefined is, do you find a stock with a supporting Monthly and Weekly chart and then look to buy in on the weakness of the daily.

If - according to your methodology- what the markets tells you in the Higher TF and from those clues you got a confirmation of the daily weaknesss or what ever, yes. Pursue that avenue. Provided taht your plan ( STOP ENTRY EXIT) should be totally consistnet with the TF on which you buy or sell the security.

The choice of the TF is the most important point of your activity: is the same type of world in which you and the other partecipants at the auction look at the security( market) and therefore your BID (or ASK) will very much like likely match with Them.

>So this would see all three time views used to pick the entry on the daily.

mY ADVICE: ALWAYS GO BACK AND FORTH ON TF, CHECK AND TAKE INFO THAT WILL SUPPORT YOUR SPECIFIC TF PLAN . ALWAYS .

>Is this overkill??

Not at all. Is preserving your capital...

Hope I'v been someway helpfull

[mattsb]

fabrizio,

The autoXTL.efs below is awesome! I suppose it only shows how awesome the XTL trading method that Tom and Andy have put together is. WOW!

I backtested against a couple of indexes and the results are very good. Not every trade is a winner of course. They never are. But the losses are so manageable that the system has great results. I backtested using OTM options and the returns are phenomenal. Too many superlatives for one post.

Thanks.

[fabrizio]

Matt

Yes too many, I'm blushing.....

I am really glad you appreciate it.

The approach based on the volatility of the firts bar after the B.O makes it an easy system. And manageble - as you kindly noted.

Good trade Matt.

[soylent]

Yes Fabrizio -- thanks! Very nice autoXTL.

I've always wondered why we had to manually calculate what would be 'easy' to automate compared to, say, elliot wave calculations or XTL trends...

Thanks again!

[Momentum]

XTL Tool

Hi Fabrizio

Just trying to understand your autoxtl tool. Thanks for posting it.

Does COVER = Stop out of position and STOP = Take Profit?

What is the shortest time frame you use it on successfully?

Thanks

Tom

[ACM]

Momentum
Yes Cover is the protective stop and Stop is the stop for profit.
On the long side the terms used are Buy, Sell and Stop.
The Stop is based on 1.618 of the distance between the Short and Cover or the Buy and Sell prices.
Alex

[Ainsley]

where does one find this auto xtl

or is this something that has been setup with fib

Im using Advanced Get EOD

[ACM]

Ainsley
The efs cannot be used with the EOD version of AdvancedGET.
It is only for the AdvancedGET Studies in eSignal
Alex

[Ainsley]

Thanks for the reply, I will have to look into esignal further