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Sedona- A system for inactive hours

  • #181
  • May 10, 2007 12:45pm May 10, 2007 12:45pm
Quoting mestx41
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.
Interesting.
What time frame and MA did you use?
Did you use a SL?
7PM-3AM EST?

Thanks
  • #182
  • May 10, 2007 1:17pm May 10, 2007 1:17pm
Our backtest showed 63% chance of winning. Up to now, we are 74% winner with an average winning rate 9 pips more than the losers. the net sum is +27 pips. We are still good.
Making pips is easy, holding 'em is hard - Pipsopolis
  • #183
  • May 10, 2007 6:14pm May 10, 2007 6:14pm
One possible explanation for today's stop. Thursdays are G/J carry trade liquidation day. If so many banks and hedge funds start to sell GBP and buy back JPY, this can drop the pair even if you are not in market hours. BTW, I am pretty bearish in long term on this pair.
Making pips is easy, holding 'em is hard - Pipsopolis
  • #184
  • May 11, 2007 2:50pm May 11, 2007 2:50pm
This week results. We had a negative week. Out of 20 trades, we have 15 winners and 5 losers with an average winner of 76 pips and an average loser of -60 pips.
Attached Image
Making pips is easy, holding 'em is hard - Pipsopolis
  • #185
  • May 14, 2007 10:49am May 14, 2007 10:49am
I am going to sit tight today becuase the range was only 60 pips and the current price is on the SMA.
  • #186
  • May 14, 2007 10:53am May 14, 2007 10:53am
Actually today is a no-trade day anyway, according to the rules.

No overbought at the high, no oversold at the low.
You are in a maze of twisty little passages, all alike.
  • #187
  • May 14, 2007 11:12am May 14, 2007 11:12am
I have an oversole around 06:00 GMT but I just noticed that we had the "low" at 14:00GMT. (only a 3 pip difference).
  • #188
  • May 14, 2007 11:57am May 14, 2007 11:57am
I do not trade today as well.
Making pips is easy, holding 'em is hard - Pipsopolis
  • #189
  • May 15, 2007 2:44am May 15, 2007 2:44am
There was no good signals for a trade today Monday for either one of these pairs.
  • #190
  • May 15, 2007 11:11am May 15, 2007 11:11am
High = 238.86
Low = 237.75

Sell1 238.83 Sell2 238.72 Sell3 238.61 Upper Stop 239.05
Got an overbought at the max of the range, no oversold. So it's short only today.
You are in a maze of twisty little passages, all alike.
  • #191
  • May 15, 2007 11:24am May 15, 2007 11:24am
Quoting stevegee58
High = 238.86
Low = 237.75

Sell1 238.83 Sell2 238.72 Sell3 238.61 Upper Stop 239.05
Got an overbought at the max of the range, no oversold. So it's short only today.
today it might be tricky, due to the recent up break of EU and GU. But I hope that GY topped around 238.80 for the night, so if we get some retracement, we can get our short orders filled in profit

My TP is at 238.35... maybe I will change it to 238.40 if the MA keeps going up..
We leave no soldier behind.
  • #192
  • May 15, 2007 12:29pm May 15, 2007 12:29pm
Ouch. Two of my orders filled and then they spanked me.

Ah, well.
You are in a maze of twisty little passages, all alike.
  • #193
  • May 15, 2007 12:41pm May 15, 2007 12:41pm
After days like today, I wonder why I trade.
I got spanked on several orders by several systems today.

Hopefully, tomorrow will be better.
  • #194
  • May 15, 2007 12:44pm May 15, 2007 12:44pm
I suppose getting spanked is good if you're into that.

I trade small so as to spread the risk around, but some days things are just stacked against you.
You are in a maze of twisty little passages, all alike.
  • #195
  • May 15, 2007 1:20pm May 15, 2007 1:20pm
I am still in (S/L: 239.08). The worst thing is not stopping out but make a bad trade. I hope you do not violate your own rules. Otherwise MM is there to protect you against those "normal losers"
Making pips is easy, holding 'em is hard - Pipsopolis
  • #196
  • May 15, 2007 7:33pm May 15, 2007 7:33pm
Well, I guess I could have avoided this setup last night due to the strong move upwards...Until now, every time the price was at the upper part of the box, it went above the limit and triggered my stops...
We leave no soldier behind.
  • #197
  • May 15, 2007 7:38pm May 15, 2007 7:38pm
Quoting sahamdarjoz
I am still in (S/L: 239.08). The worst thing is not stopping out but make a bad trade. I hope you do not violate your own rules. Otherwise MM is there to protect you against those "normal losers"
I think your stop was missed by one pip but I dont understand how did you get to calculate the stop at 239.08 instead of 239.05... The range was from 237.72 to 238.81, so 109 pips, so the 20 % would have been 22 pips above 238.85 as a stop....
We leave no soldier behind.
  • #198
  • May 16, 2007 11:25am May 16, 2007 11:25am
Quoting gagiul
I think your stop was missed by one pip but I dont understand how did you get to calculate the stop at 239.08 instead of 239.05... The range was from 237.72 to 238.81, so 109 pips, so the 20 % would have been 22 pips above 238.85 as a stop....
My Box was based on Oanda data, highest was 238.85. Pure luck? Maybe!
Making pips is easy, holding 'em is hard - Pipsopolis
  • #199
  • May 16, 2007 11:27am May 16, 2007 11:27am
It is a no-trade day for me. Price already moved all the way to the bottom of the box and we had no OS at the minimum. I'd like to watch more than anything else today.
Making pips is easy, holding 'em is hard - Pipsopolis
  • #200
  • May 16, 2007 11:31am May 16, 2007 11:31am
Quoting sahamdarjoz
It is a no-trade day for me. Price already moved all the way to the bottom of the box and we had no OS at the minimum. I'd like to watch more than anything else today.
I set my up my sell orders but then canceled them for the same reason.

It makes sense. If price goes all the way back to the top of the box from the bottom, the odds favor a breakout rather than a reversal. Hey, cash is a position, right?
You are in a maze of twisty little passages, all alike.
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