The xm7 indicator

This is pretty much it. Folks been working on this indi since Nov 08. After some observations and studying Jesse Livermore's approach (recommend u read his story) the xm7 indi has come to it's final version.

Three key factors that I picked up from Livermore was the pivotal continuation point, the path of least resistance, and his money management. The path of least resistance is basically which way is the market heading. The pivotal continuation point is an entry point that is detected once you determine the path of least resistance.

So how does this equate to the xm7 indi? The path of least resistance can be determined by looking at the last major xm7 signal and the overall direction of the market. The continuation point would then be the next minor signal that is in the direction of the major xm7 signal. The xm7 indi is now able to provide an alert for those conditions.
Now, you must realize that you have to WAIT! When u see a major xm7 signal WAIT. Wait until price has moved considerable in that direction then WAIT for that 1st minor xm7 signal to give u an entry. Just look at the past (it will repeat) and you will notice that during an extablished trend that you could of easily entered any of the minor xm7 signals and got plenty of pips.

I don't have a document outlining all that is involved but Pierre has this same concept in his approach, except, here I do not use any other indicator. If u don't have it, go to the forum,xm7 forum, and download that copy and study it. As for money management. Enter with the smallest lot size u can have. WAIT for price to move in your direction like 10 pips (if u are on the 1H timeframe and not on GBPJPY or another volatile pair). Add more to your position as price continues to go in your direction. Livermore does it in 1/4. I enter 1st with a 10cent/pip value then for every 10-15 pips add 1/3 until I reach my total lots. Once I am in profit and I SEE that price is way ahead I plave a profit stop to protect any gain and let the market rid. Oh did I mention? I do not use stops in the beginning. If I reach -30 pips ($3) I close out my position and WAIT for the next one to come along.

The xm7 indi inputs now only consist of turning on and off emai, popup, label, or data recording choices.

Downloads

Info on Jesse Livermore

I've added the following links for those of you interested in getting some info on Jesse Livermore. The sites contain good info and some of the basic ideas that Mr Livermore provided. Check them out:

Videos

These videos provide the basic information of the indi inputs, horizontal/trend line alerts, and some of trade examples. I left these videos here for info purposes only. The approach that is now used is different. If u have any more questions let me know. if you have problems viewing the videos you can download them direction(see below).

Video downloads

The following are direct links to the video files. They are in flv(flash) format. So you will need a flash player to see them. I recommend you google VLC, good multi-format video viewer

Contact

You know where to find me..
xmess777@yahoo.com