Sedona- A system for inactive hours

anyone placing trades today? I know its FOMC coming soon, but I will go ahead and place them, so hopefully they get filled up in profit.

Sell 239.12/239.25/239.39 ST 239.66 TP 238.80
Buy 238.31/18/04 ST 237.77 TP 238.80

Sell1 239.43 Sell2 239.29 Sell3 239.15 Upper Stop 239.71
TP = 238.90

Sell3 has triggered so far.

I am to start with the following; this is my first post to FF

I have also been trading thie system for the last couple of weeks with good results. However, with all the news for today and tomorrow, I have decided NOT to trade until Monday.

I'm probably being somewhat naive, but I don't see what the US Fed news has to do with GBP or JPY. I don't tend to trade with big positions anyway, so I'm staying with the current setup.

Sell2 just triggered. Now I'm in Sell3 and Sell2

My personal opinion (for what it is worth) is that:

The FED decision will affect the USD/JPY and the GBP/USD, which will then affect GBP/JPY. Remember that the GBP/JPY is a cross-currency made up of the two pairs.
In addition, I think whatever the FED says is most likely factored into price. The reason I am staying out is that there "might" be a surprise. I doubt it there there is always the possibility.

EDIT - I may jump in after the FED announcement if the setup continues to look good...

welcome aboard.

All three sell positions have been triggered. Now we just have to cancel buy positions and readjust T/P when necessary. You may listen to music and look at cable chart to see how the crowd will act on the news. If we stop out, as we are wise, we may only lose 1.5-3% of our equity which is not a big deal and we can consider it a "normal loss" as I call it.

Stopped out on all three positions: -54, -41 & -27 pips. Average -41 pips.

Still not stopped out yet. Currently -29 average. Came real close though.

There's a definite divergence between RSI and price. i.e. price is trending higher, but RSI is hitting lower highs.

I'm closing out at 2000 EDT (12 minutes) no matter what.

Stopped out -22 average.

good discipline. your high and low was based on Oanda?

Closed at 20:00 for -17 average (3 trades).
Maybe we should analyze this trade. It this an accident, could it be prevented?

Yup, all my data points come from my Oanda trading screen.

I examined the trade carefully, I don't see any reason not to take it. The only reason could be the i-rate which affect the pair indirectly, yet the market almost knows the Fed would not change it and the chart shows it is not a surprise. I put it in "normal loss" pile.

As I am using two different platform for charting and trading, and today if I put the stop 2 pips higher, it would not hit, maybe I have to look at the bigger box, just to be safe.
Steve,
How your last two week data differ from mine, If you have them?

I was also stopped out on two trades, I decided to jump in regardless of my better judgement. I should have stood by my first opinion.

I would rack this trade up to greed b/c the way I understand this system we should not have taken the trade b/c we had news in the afternoon. I understand that the news was not earthshaking but it was still news.

I was filled long on the lowest order at 238.63 and almost immediately stopped out at 238.39. Luckily it was only 1/3 of a full position.

I canceled the other 2 orders since the setup is invalidated for today.

I also stopped out on two positions. My platform said" D'ohh"!

Here is my two day test of these pairs are recommended by Kathy Lien. Her system says to trade these pairs from 16:00GMT to 7:00GMT and from the RSI 30 to 70 and 70 to 30. Here are the results: With her parameter there would have been no trades in the past two days. A variation of this would have been:

Tuesday
E/G peaked at 14:15GMT at RSI 19 at 0.6790. Go long.
E/G peaked at 19:15GMT at RSI 65 at 0.6808.

E/C peaked at 14:15GMT at RSI 33 at 1.6475. Go long.
E/C peaked at 20:00GMT at RSI 65 at 1.6500.

Wed
E/G peaked at 14:30GMT at RSI 28 at 0.6782. Go long.
E/G peaked at 6:15GMT at RSI 75 at 0.6795

E/C peaked at 13:15GMT at RSI 27 at 1.6467. Go long.
E/C peaked at 6:30GMT at RSI 61 at 1.6498.

As you can see, the best entries would have been during the US morning and Euro sessions.

This is only two days of tracking and this is not much movement. I will continue to post best case situations even if they don't hit the RSI 30-70 or 70-30. We may have set TP targets. Thanks for all the posts.

This is how many daytraders make a living, i've traded this way before, over the summer when i'm out late nights i'd trade the AUD/JPY (sydney and tokyo are open the longest simultaniousely)...i'd open my trade at 7 based on a moving average breach, set a stop, and when I came in i'd close the position out at 3 am when the market closed. You can make alot of money like that.