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Sedona- A system for inactive hours

  • #121
  • May 1, 2007 11:52am May 1, 2007 11:52am
Quoting wcalem
These are the orders I placed (all sells):

239.53
239.63
239.73

S/L 239.93
I am not sure if take this trade or not as the price traveled down to 2 pips over the EMA without triggering any positions and now is in its way back up. As I am suspicious, I am going to cancel my orders and call today a no-trade day. There is always a new opportunity down there. Don't rush. We want to make money not to trade, right?
See you tomorrow.
Making pips is easy, holding 'em is hard - Pipsopolis
  • #122
  • May 1, 2007 11:57am May 1, 2007 11:57am
I'm with you...see you tomorrow.
  • #123
  • May 1, 2007 12:49pm May 1, 2007 12:49pm
Im with u too, as always since the start of this thread. Cant believe that the range today was 100 pips only for the monster GY.

Well, lest hope we can make a profit even from this small range
We leave no soldier behind.
  • #124
  • May 1, 2007 9:11pm May 1, 2007 9:11pm

Well, I guess we took a small loss this time, no big deal. This if you closed at 20 EST. I left it open and just got out with TP at 238.35.

Also GBP USD closed neat the lows at 1.9978, I went short around 1.9975 with stop at 1.9959, but it seems it will take me out soon. Probably because the MA was so close to the low of the box, I shouldnt have entered long.

We leave no soldier behind.
  • #125
  • May 1, 2007 9:46pm May 1, 2007 9:46pm
Quoting gagiul

Well, I guess we took a small loss this time, no big deal. This if you closed at 20 EST. I left it open and just got out with TP at 238.35.

Also GBP USD closed neat the lows at 1.9978, I went short around 1.9975 with stop at 1.9959, but it seems it will take me out soon. Probably because the MA was so close to the low of the box, I shouldnt have entered long.

The worst case is gaining pips while violating the rules. Then it would be your second nature to violate the rules and then, boom!
I would appreciate it if you do a backtest and see if it is a good idea to let the positions run in Asian market.
For cable: You went long, right? I have to go back and look at it before going live on it. Your stop is probably hit by now. Sorry for the lost pips
Making pips is easy, holding 'em is hard - Pipsopolis
  • #126
  • May 2, 2007 12:10am May 2, 2007 12:10am
Quoting sahamdarjoz
The worst case is gaining pips while violating the rules. Then it would be your second nature to violate the rules and then, boom!
I would appreciate it if you do a backtest and see if it is a good idea to let the positions run in Asian market.
For cable: You went long, right? I have to go back and look at it before going live on it. Your stop is probably hit by now. Sorry for the lost pips
Dont worry about the lost pips, I just trade demo. That is why I allow myself to break the rules a little, I keep a diary of P/L gained by respecting the rules and also by letting the trade run for a longer time. Until now, there was another case when GY hit the targets after the time we normally would have closed the trade. Im just testing it.
We leave no soldier behind.
  • #127
  • May 2, 2007 10:10am May 2, 2007 10:10am
Things seem to be setting up nicely for a long entry today. There was a nice,big oversold this morning at 0200 at the current box low. There was no overbought at the box high. The box is about 100 pips deep, so it's got plenty of meat.


I'm just keeping an eye on that box low to see if it holds.
You are in a maze of twisty little passages, all alike.
  • #128
  • May 2, 2007 10:16am May 2, 2007 10:16am
I am ready to set my orders too, as soon as the active period is over.
  • #129
  • Edited 11:01am May 2, 2007 10:50am | Edited 11:01am
Quoting wcalem
I am ready to set my orders too, as soon as the active period is over.
Funny we have another day of 100 pips for the monster GY. This animal is gonna be soon unleashed and then it will ravage the charts but until then we can set up a nice long trade for tonite I suppose.

Because RSI was only OS today, my opinion is that we should look only for long entries. However, due to the strong resistance at 239.55, I will also put a sell order below, just in case price goes up there, as it wont have the power to break the resistance now after it couldnt break it for the whole day. This is my personal opinion, so no need to consider it.

So the long orders for GBP JPY would be at 238.76, 238.66 and 238.56 with stop at 238.36.
Good&safe profits to u all.

P.S. Saham, once again thank you for this incredibly simple yet profitable strategy. Its one of the best I got, one that occurs every night, regardless of the market conditions and it has exact entries and exits and looks really profitable over the long term. Im sure of it, so what could I want more? Thanx a lot again.
We leave no soldier behind.
  • #130
  • May 2, 2007 11:10am May 2, 2007 11:10am
Well price has already made it to the 62ma. Yesterday when this happened the author cancled all orders. what do you think????
  • #131
  • May 2, 2007 11:16am May 2, 2007 11:16am
Hmmm. Good point. Yesterday, he was worried (I think) that some support had been found at the EMA and that price might fly up, fill the sell orders and keep going.
You are in a maze of twisty little passages, all alike.
  • #132
  • May 2, 2007 11:36am May 2, 2007 11:36am
Well, I have canceled my orders. There is strong support @ 238.83, so even if price does come down and hit the orders it could have a hard time getting back up past 238.83.
  • #133
  • May 2, 2007 6:35pm May 2, 2007 6:35pm
Quoting gagiul
Damn, Im pissed off. This was a very nice trade indeed, but i dont know why my Interbank FX closed my trade at stop loss, even if the price reached only 239.01 and my spread is usually 10 pips maximum, so the stop at 239.20 was safe....

I bet your glad your on a demo...lol
  • #134
  • May 3, 2007 1:16am May 3, 2007 1:16am
FYI...

Check out the calendar. For me, with a US time-of-day setting,
the calendar says Wed & Thu, May 2-3 are both holidays in Japan,
with financial markets closed. Late Wednesday night here is already
mid-afternoon the next day in Japan. Someone could check
whether the holidays, local time, are really on Thu & Fri in
Japan or actually Wed-Thu.

Anyway, since the premise of this method is based on trading inactive
hours, it theoretically should affect this method's opportunities on
holidays for either of the currency pairs... It's something to be aware
of.
  • #135
  • May 3, 2007 9:46am May 3, 2007 9:46am
I was not around yesterday. We had a profitable trade on cable (finally ) and a no-trade on GJ.
Making pips is easy, holding 'em is hard - Pipsopolis
  • #136
  • May 3, 2007 12:36pm May 3, 2007 12:36pm
A buy trade would pay off nicely on GJ but I didn't take it as it was against the rules (no OS). Violating the law might makes profits in a trade or two but it causes loss in long run.
We can only take short trades today
Making pips is easy, holding 'em is hard - Pipsopolis
  • #137
  • Edited 2:42pm May 3, 2007 2:26pm | Edited 2:42pm
My lowest short was filled and is currently 7 pips in profit.

This brings up a question. If only 1 of the orders is filled and hits TP, do you cancel the remaining unfilled orders, or leave them there? I'd be inclined to declare the whole thing a done deal and cancel them.
You are in a maze of twisty little passages, all alike.
  • #138
  • May 3, 2007 3:22pm May 3, 2007 3:22pm
Quoting stevegee58
My lowest short was filled and is currently 7 pips in profit.

This brings up a question. If only 1 of the orders is filled and hits TP, do you cancel the remaining unfilled orders, or leave them there? I'd be inclined to declare the whole thing a done deal and cancel them.
This is the very same thing I do. I cancel not triggered positions as soon as TP is hit.
Making pips is easy, holding 'em is hard - Pipsopolis
  • #139
  • May 3, 2007 6:17pm May 3, 2007 6:17pm
Well, I reset the orders after the positions were closed and I reused them
more than one time. I managed to get 51 pips today in GBP/JPY (one buy
and two sells) and 12 in GBP/USD (two buys).
I think its pretty safe to do that because the market actually is ranging in
this interval and no major moves are expected.
  • #140
  • May 3, 2007 10:31pm May 3, 2007 10:31pm
Good trade on GBP JPY, sold at 239.41, it just came up to trigger the sell order, then reached the TP. So 18 pips profit for me. Thanx again Saham

For GBP USD, it triggered all my longs at 1.9873, 1.9863 and 1.9854 respectively, with TP roughly at 1.9880, but right now the trades seem in jeopardy due to the GBP USD sell off. Just came very close to my stop at 1.9835...lets see what happens.
We leave no soldier behind.
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