Sedona- A system for inactive hours | Page 5 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

The System Behind the System, by Merlin Jeffries 16 replies

Algorithmic Trading: The Five 4 hours candles system 13 replies

Simple morning hours breakout system - forward test $1000 => ? 175 replies

Oanda and "inactive" accounts 4 replies

Would you trade this system? New system #2. 10 replies

Attachments: Sedona- A system for inactive hours
Exit Attachments

Sedona- A system for inactive hours

  • #81
  • Apr 30, 2007 3:37am Apr 30, 2007 3:37am

I didnt have any trades triggered for last night, as the market was awfully quiet after the gap, and its quiet even now. I think we will have a very quiet and boring week, but like Soros said, good investing is boring.

Looking forward to the new opportunities.

We leave no soldier behind.
  • #82
  • Apr 30, 2007 6:08am Apr 30, 2007 6:08am
Were these the results with the .5% per trade method that you had outlined earlier?

Quoting sahamdarjoz
Backtest results for GJ:
The backtest was candle by candle on Forextester with NF 1min data:

% win: 60%
average win: 30 pips
avg loss: -23 pips

I backtested Mar 20- Apr 20 using money managment techniques with the same software. The system turned $ 10,000 to $ 10,632 in a month with the highest drawdown of 4%.
Life is too short to have anything but delusional notions about yourself.
  • #83
  • Apr 30, 2007 6:52am Apr 30, 2007 6:52am
Quoting gagiul

I didnt have any trades triggered for last night, as the market was awfully quiet after the gap, and its quiet even now. I think we will have a very quiet and boring week, but like Soros said, good investing is boring.

Looking forward to the new opportunities.

If i am right I think you need to wait until the UK session closes (1700 GMT) before you place your pending trades.
  • #84
  • Apr 30, 2007 8:17am Apr 30, 2007 8:17am
Quoting gagiul

I didnt have any trades triggered for last night, as the market was awfully quiet after the gap, and its quiet even now. I think we will have a very quiet and boring week, but like Soros said, good investing is boring.

Looking forward to the new opportunities.

I don't trade it either, never
Making pips is easy, holding 'em is hard - Pipsopolis
  • #85
  • Apr 30, 2007 8:18am Apr 30, 2007 8:18am
Quoting hoss
Were these the results with the .5% per trade method that you had outlined earlier?
Good point. It is with 1% risk on each trade
Making pips is easy, holding 'em is hard - Pipsopolis
  • #86
  • Apr 30, 2007 8:55am Apr 30, 2007 8:55am
It's looking like the setup for lunch (1200 ET) for me is showing a low of 237.95 and a (current) high of 238.70. That's a 75 pip wide box.

Here's a question. That box seems a bit narrow, especially when compared with the bid/ask spread of 6 pips. Wouldn't it be better to wait for wider boxes so there's more "meat" in the setup? 20% of the box width is 15 pips for the stop placement, which is about 2 spreads, which again seems too narrow.
You are in a maze of twisty little passages, all alike.
  • #87
  • Apr 30, 2007 9:07am Apr 30, 2007 9:07am
Quoting stevegee58
It's looking like the setup for lunch (1200 ET) for me is showing a low of 237.95 and a (current) high of 238.70. That's a 75 pip wide box.

Here's a question. That box seems a bit narrow, especially when compared with the bid/ask spread of 6 pips. Wouldn't it be better to wait for wider boxes so there's more "meat" in the setup? 20% of the box width is 15 pips for the stop placement, which is about 2 spreads, which again seems too narrow.
That's a nice correlation to look for. I did not look at the effect of box size on the chance of win. Sometimes it has an effect some times no. By the way, you always have the chance of not entering a trade, eh?
Making pips is easy, holding 'em is hard - Pipsopolis
  • #88
  • Apr 30, 2007 9:42am Apr 30, 2007 9:42am
Quoting stevegee58
It's looking like the setup for lunch (1200 ET) for me is showing a low of 237.95 and a (current) high of 238.70. That's a 75 pip wide box.

Here's a question. That box seems a bit narrow, especially when compared with the bid/ask spread of 6 pips. Wouldn't it be better to wait for wider boxes so there's more "meat" in the setup? 20% of the box width is 15 pips for the stop placement, which is about 2 spreads, which again seems too narrow.
I am showing that price has not gone into OB on the RSI (as of yet), so there would be no short trades...
  • #89
  • Apr 30, 2007 9:56am Apr 30, 2007 9:56am
Quoting wcalem
I am showing that price has not gone into OB on the RSI (as of yet), so there would be no short trades...
I suspect that we'll see some platform differences where high/low prices and RSI calculations will be a little different.

My chart showed that RSI (9) did go overbought in the 2245-2300 timeframe last night. I got a reading of 71.27 at that time which is *just* overbought (i.e. > 70)

I also show an oversold at about 0215 with a reading of 28.72, *just* oversold (i.e. < 30).

*woot woot* breaking news. The RSI just went solidly overbought just now at 1055.
You are in a maze of twisty little passages, all alike.
  • #90
  • Apr 30, 2007 10:09am Apr 30, 2007 10:09am
I guess the best way is to wait for the box to be completed. Now it is just making a new high with OB RSI. We have to wait for less than an hour to setting up the trades
Making pips is easy, holding 'em is hard - Pipsopolis
  • #91
  • Apr 30, 2007 10:10am Apr 30, 2007 10:10am
That is what I show too.
  • #92
  • Apr 30, 2007 10:14am Apr 30, 2007 10:14am
I was complaining about not having enough meat, but it looks like we just went from Subway to Quizno's
You are in a maze of twisty little passages, all alike.
  • #93
  • Apr 30, 2007 10:35am Apr 30, 2007 10:35am
Could you clarify entries when price is already in a buy/sell zone (i.e. within the 20% of the box high/lows) when the market closes. It is clear to me when price is out of that zone that we place buy/sell stops but I am not sure how to enter when price is already there...market order at the current price with stops at the other levels?

I hopw this makes sense, Thanks
  • #94
  • Apr 30, 2007 10:54am Apr 30, 2007 10:54am
Quoting wcalem
Could you clarify entries when price is already in a buy/sell zone (i.e. within the 20% of the box high/lows) when the market closes. It is clear to me when price is out of that zone that we place buy/sell stops but I am not sure how to enter when price is already there...market order at the current price with stops at the other levels?

I hopw this makes sense, Thanks
Ex. Price is currently between the upper 10% and the 20% lines....

You can place a Sell LIMIT order on the 0% and 10% line. The order for the 20% would have to be a Sell STOP order.
  • #95
  • Apr 30, 2007 10:57am Apr 30, 2007 10:57am
Quoting jimbo61
Ex. Price is currently between the upper 10% and the 20% lines....

You can place a Sell LIMIT order on the 0% and 10% line. The order for the 20% would have to be a Sell STOP order.

Thanks, just to make sure I understand...you never enter at market but always at the 3 designated price points (whether price has to go up to it or down to it).
  • #96
  • Apr 30, 2007 11:09am Apr 30, 2007 11:09am
Entries for GJ:
Sell @ 238.76, 238.87 & 238.98
S/L: 239.20
T/P: 238.49
Two should be triggered by now. Although, As I've reached my monthly pip targert, I am not going to trade today.
Thanks Jimbo61 for clarification on entries.
Making pips is easy, holding 'em is hard - Pipsopolis
  • #97
  • Apr 30, 2007 11:23am Apr 30, 2007 11:23am
Setting the TP is a little tricky, isn't it? I mean, the EMA (62) moves around after the box period is over and after your orders are filled, right? So do you set it and forget it at the box-end time?
You are in a maze of twisty little passages, all alike.
  • #98
  • Apr 30, 2007 11:24am Apr 30, 2007 11:24am
Quoting wcalem
Thanks, just to make sure I understand...you never enter at market but always at the 3 designated price points (whether price has to go up to it or down to it).
It depends my friend. Sometimes the opening of the first candle out of the box is exactly on one of your entries, then you can enter at the market.
Making pips is easy, holding 'em is hard - Pipsopolis
  • #99
  • Apr 30, 2007 11:37am Apr 30, 2007 11:37am
Quoting sahamdarjoz
It depends my friend. Sometimes the opening of the first candle out of the box is exactly on one of your entries, then you can enter at the market.
Right, what I meant was that you enter at the pre-determined price points based on the size of the box (10%, 20%, etc). Sometimes that will be at market other times you set limits...the point being, the entries are on the target amounts.
  • #100
  • Apr 30, 2007 11:45am Apr 30, 2007 11:45am
You've made your monthly pip target with this system alone? If so, what's your monthly pip target and what do you expect to expand your account by (percentage) each month?

Quoting sahamdarjoz
Entries for GJ:
Sell @ 238.76, 238.87 & 238.98
S/L: 239.20
T/P: 238.49
Two should be triggered by now. Although, As I've reached my monthly pip targert, I am not going to trade today.
Thanks Jimbo61 for clarification on entries.
Life is too short to have anything but delusional notions about yourself.
0 traders viewing now