Using XTL to trade the emini

[Momentum]

Web session would be very valuable to many of us here in the UK

[hdv]

Originally posted by TomJoseph
If the retracement exceeds much over 38%, it usually means a loosing pattern and I tend to look for another trading oppurtunity.

If you are a conservative trader, you would look for trades where
the color stays all Blue during the pattern.

If you are an aggressive trader, the bars can change to Black
but you definitely cannot let it change to an opposite Trend
color. Example when going long, Blue bars changing to Black is
okay, but you never want to see any RED.

I personally trade very aggressive.

I like this as a stand alone strategy.

I am on the road and will be back Tuesday when I will post more
examples.

I would also be glad to set up a one hour web session
if you are interested.

Tom Joseph
eSignal

Tom/Marc

Would you have a search setup for this kind of trade, either up or down?
Many thanks

[mickson]

I would welcome a web session, if it hasn't happened already.

Mike

[wombat953]

Tom
Some one earlier asked you the outliers for the drawing of the Fib lines.
What do you use as start and - more importantly - the end point for the Regression Trend Channel?
And finally, when you say enter a position at the cross of the trend channel, I presume you mean the crossing of the most distant of the three lines?
Thanks
George

[JJordan]

Drawing w/ fibonacci

Hi All,
I would like to recommend a good read on drawing and using fibonacci.

Fibonacci Applications and Strategies for Traders

I think there is an art to it and this book has shown me some things and I have practised the methods
discussed in this book and have proved the varacity to myself.

I'll be happy to trade my book for the new book.....same subject part2 I guess?

Best Luck,

~j

[fabrizio]

Re: Drawing w/ fibonacci

Originally posted by JJordan
Hi All,
I would like to recommend a good read on drawing and using fibonacci.

Fibonacci Applications and Strategies for Traders

I think there is an art to it and this book has shown me some things and I have practised the methods
discussed in this book and have proved the varacity to myself.

I'll be happy to trade my book for the new book.....same subject part2 I guess?

Best Luck,

~j

JJ

You suggested a very, very good reading to the audience. The Fisher(s) reading is- IMHO- the best way to get deeply linked with R.N. Elliot studies, other than a great approach and school to the phi applications.

[TomJoseph]

Guidelines for selecting FIB Points

I have used an example of AOL Daily here. To select the anchor points for drawing the Fibonacci retracemnets, follow these guidelines:

1) Find the first (easily identifiable) Low pivot prior to the start of the Up Trend as detected by the XTL breakout bar. This is point A.

2) Follow the Up Trend and find the High Pivot prior to the start of the retracement or pull back. This is point B.

3) Now select your FIB TOOL and click at point A. Drag your mouse to point B. Anchor at point B and extend the lines by dragging the mouse to the right. Click the left mouse button to draw the Fib Lines.

4) The 38 % level is the most likely Fib level to find support.

I am setting up times for the Web session and will post it
here.

Tom Joseph
eSignal - Advanced GET

[SERGIO.M]

Thank you Tom we wait your post about Web session

Sergio

[tasman]

Fibinacci Retracement and Regression Trend Channel

Hi Tom,

I just started reading about using XTL so haven't used it yet, but I just encountered a good example of the Fibinacci retracement and regression trend channel that you have been discussing lately.

The attachment shows a 3 minute chart of the s&P emini that I have been using to test some things I have recently read about the Bollinger Bands. (You can ignore those comments.)

I set up a fibinacci retracement for the move that occurred between 9:45 & 10:30 and found that it retraced up to the .382 line at 10:55. That line then became the resistance point for the next top at 11:15. The price also followed the bottom of the regression trend channel I added to the chart as you have suggested.

Anyone following your suggestions would have gotten in on the big move that came during the next hour.

Dale

[TomJoseph]

TRY XTL FREE FOR A MONTH

If you are already an eSignal Customer, please call your eSignal Rep and request for a FREE ONE MONTH trial for the Advanced GET Studies add on.

You can tell them I offered this free trial.

The XTL Study is part of the Advanced GET studies package. Once you are enabled, follow the instructions below to apply the XTL study.

a) Right click your mouse on the chart and select Advanced GET studies (near the bottom of the pop up menu).
b) Now select GET:XTL from the GET Study pop up menu.
c) Select the default settings of "Period 35".

Bingo - you should have the XTL Blue and Red bars displayed.

If you have questions please call the eSignal Tech support at
510 264 1700 and select #3 to go to Advanced GET support.

Thanks
Tom Joseph
eSignal - Advanced GET

[TomJoseph]

XTL WEB SESSION

I have set up a web session on

"COMBINING XTL WITH FIBONACCI"

on Thursday October 2, 2003 at 4.30 eastern time (1.30 pacific time).

Please go to the following link and then enroll for this session.

https://esignaltraining.webex.com/esignaltraining/onstage/mainframe.php?Rnd4060=0.1723708030439018

Thanks
Tom Joseph
eSignal - Advanced GET

[MR]

Tom asked me to post this for him.....

Many people have requested we reschedule the "Combining XTL and Fibonacci"
so they could attend. Tuesday worked better.

If interested in participating in this Web-Ex event, the date and time are:

Tuesday, Oct 07, 2003, at 1:30:00 pm
Pacific Daylight Time (GMT -07:00, San Jose)

You will receive an email confirmation of your enrollment.

click here for new signup details

[TomJoseph]

XTL CONTINUATION TRADE

The same patterns continue to repeat itself in the emini
S&P 500 contracts.

When you have a trend (confirmed by the Blue XTL), look for
a 25-38% retracement. Then use the Trend Channels
to take the trade.

Tom Joseph
eSignal- Advanced GET

[pj909]

did this session COMBINING XTL WITH FIBONACCI ever get posted to the chat logs. I can't seem to locate it.

[minx]

Re: XTL CONTINUATION TRADE

Originally posted by TomJoseph
When you have a trend (confirmed by the Blue XTL), look for
a 25-38% retracement. Then use the Trend Channels
to take the trade.

Would you suggest buying on the close of the bar breaking the regression channel, a tick above the high of the bar closing outside the RTC or just any price that trades even momentarily above the RTC ???
Would you then use 1-1, 2-1, 3-1 R/R for profits or do you think another Fib extention to calculate the profit taking zone?
Also would you pyramid these trades, as in the last example where you might no be out of the first set of longs when the second buy is triggered.
Any thoughts greatly appreciated
Thanks