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Sedona- A system for inactive hours

  • #21
  • Apr 24, 2007 9:16am Apr 24, 2007 9:16am
Thanks everyone for commenting and giving this system a try. I'd appreciate if you vote for this thread in the ranking system.
Making pips is easy, holding 'em is hard - Pipsopolis
  • #22
  • Apr 24, 2007 11:14am Apr 24, 2007 11:14am
The system for GBP/JPY is ready to trade today. The box is between 237.98 and 235.93 ( a 205 pip wide box).
Here are the "short" entries:
sell at: 237.57, 237.78 and 237.98 with S/L of 238.39 and T/P: 237.17 (which is EMA62 and dynamic).

The "long" trades are:
buy at: 236.34, 236.14 & 235.93- S/L is 235.52 and T/P is 237.17 (dynamic again and should be reset every half hour or so).

I am going to post the possible trades for a while and after that we only track what is happening in terms of pips.
Making pips is easy, holding 'em is hard - Pipsopolis
  • #23
  • Apr 24, 2007 11:39am Apr 24, 2007 11:39am
sahamdarjoz, thanks for sharing this system, unfortunately for me, all trades exist during my bedtime! (1.30am here...) just so I understand, even if we start the trading time with price close to the EMA, pending orders are placed in the box upper and lower 20% of the box with the aim of at least riding the price back to the EMA...

(picture below showing box - to right of the pink line is the trade area)
Attached Image (click to enlarge)
Click to Enlarge Name: sedonas method.jpg Size: 46 KB
  • #24
  • Apr 24, 2007 12:07pm Apr 24, 2007 12:07pm
also, where would I draw the box if looking at the GBP/USD? I'm using IBFX so my MT4 draws new daily bars at GMT 0:00. Right now it's 1.04pm in NY, so right side of box would be drawn in 3 hours from now then look for trades? wonder wht this would look like on AUD/JPY?
  • #25
  • Apr 24, 2007 12:16pm Apr 24, 2007 12:16pm
Here's a good indicator for marking your box.
Set the time intervals and they'll pop right out at you on the chart.
You may have it. Its been around for quite a while.
Attached File(s)
File Type: ex4 i-ParamonWorkTime.ex4   6 KB | 631 downloads
  • #26
  • Apr 24, 2007 12:29pm Apr 24, 2007 12:29pm
cool, thanks billbss
  • #27
  • Apr 24, 2007 1:04pm Apr 24, 2007 1:04pm
Quoting Trumpcard
also, where would I draw the box if looking at the GBP/USD? I'm using IBFX so my MT4 draws new daily bars at GMT 0:00. Right now it's 1.04pm in NY, so right side of box would be drawn in 3 hours from now then look for trades? wonder wht this would look like on AUD/JPY?
GMT time for GBP/USD, your box will start at 0700 and closes at 2100. Now it is 1400 EDT (1800 GMT). Is this right?
For AUD/JPY the box will between 2100 and 0900 GMT (1700 to 0500 EDT). Although I have not backtested the system on that pair. It would be really nice if you can post backtests of this system on that pair or any other pair.
Making pips is easy, holding 'em is hard - Pipsopolis
  • #28
  • Apr 24, 2007 1:05pm Apr 24, 2007 1:05pm
Thanks. It is useful
Quoting billbss
Here's a good indicator for marking your box.
Set the time intervals and they'll pop right out at you on the chart.
You may have it. Its been around for quite a while.
Making pips is easy, holding 'em is hard - Pipsopolis
  • #29
  • Apr 24, 2007 3:23pm Apr 24, 2007 3:23pm

Wow, very simple and effective strategy. I really like it. For the last few days, it seems that no loss would have been taken if traded correctly. Yesterday and today no trade it seems. The market is ranging so that is why.

Waiting for new trade setups using this strategy. I will also post my calculation of the box, entries and results.

Great work Saham. Lets make it a serious thread with signals, trade ideas and results.

We leave no soldier behind.
  • #30
  • Apr 24, 2007 3:31pm Apr 24, 2007 3:31pm
Quoting gagiul

Wow, very simple and effective strategy. I really like it. For the last few days, it seems that no loss would have been taken if traded correctly. Yesterday and today no trade it seems. The market is ranging so that is why.

Waiting for new trade setups using this strategy. I will also post my calculation of the box, entries and results.

Great work Saham. Lets make it a serious thread with signals, trade ideas and results.

Thanks Gagiul,
I will post results and appreciate if you post your results and comments.
Making pips is easy, holding 'em is hard - Pipsopolis
  • #31
  • Apr 24, 2007 4:04pm Apr 24, 2007 4:04pm
Cable entires:
we look to sell GBP/USD as there is a nice match between the OB and the highest price of the active hours.
sell at 2.0031, 2.0040 & 2.0049
S/L @ 2.0067
T/P = 2.0003 (needless to say dynamic)

On some platforms the first position of GBP/JPY might be opened (depending on spread). We'll consider it opened
Attached Image
Making pips is easy, holding 'em is hard - Pipsopolis
  • #32
  • Apr 24, 2007 5:12pm Apr 24, 2007 5:12pm
one of GJ positions was triggered and closed at 237.22 (EMA62 at the time), with +35 pips. I'd like to cancel other two positions.
Cable still is in play
Making pips is easy, holding 'em is hard - Pipsopolis
  • #33
  • Edited 4:14am Apr 25, 2007 1:08am | Edited 4:14am
looks like the cable is oscilating between the highest entry and the EMA, two entries executed, looks like a moderate loss today...

edit: the highest got executetd too... so about -50 pips loss right now, and 30 minutes to london start, not much time to recover....

edit2: -39loss pips after all, the price backed up before hiting the s/l ...
and now it seems to go down and may give some profit, but keeping the positions would be violation of the rules od this system.. and actually the price keeps in trend, above the EMA..


how was the chart on yen? .. looks like it more or less covered the cable losses....

How about applying some trend filter to this.. so that we only trade when one of the entrys is being crossed and this cross is "out of trend" so we would expect that the price shall return back to the trend and while doing this it would cross the EMA... well , just thoughts
elm
  • #34
  • Apr 25, 2007 9:11am Apr 25, 2007 9:11am
Quoting elmer
looks like the cable is oscilating between the highest entry and the EMA, two entries executed, looks like a moderate loss today...

edit: the highest got executetd too... so about -50 pips loss right now, and 30 minutes to london start, not much time to recover....

edit2: -39loss pips after all, the price backed up before hiting the s/l ...
and now it seems to go down and may give some profit, but keeping the positions would be violation of the rules od this system.. and actually the price keeps in trend, above the EMA..


how was the chart on yen? .. looks like it more or less covered the cable losses....

How about applying some trend filter to this.. so that we only trade when one of the entrys is being crossed and this cross is "out of trend" so we would expect that the price shall return back to the trend and while doing this it would cross the EMA... well , just thoughts
elm
ٍElmer,
This is how I got it:
All three were triggered and I closed all three manually right before London session started at 2.0044 (as was in the rules). So my reading is: -13 pips, -4 pips, +5 pips.
I post an average of three positions because posting the sum of the pips gained or lost does not look right to me. So -4 pips in Cable
Attached Image
Making pips is easy, holding 'em is hard - Pipsopolis
  • #35
  • Apr 25, 2007 11:15am Apr 25, 2007 11:15am
GJ:
Box: 237.96- 236.87 (109 pips)
Looking for for Sell:
Short @ 237.74 (triggered), 237.85, 237.96. SL: 238.18 T/P: 237.49 (dynamic)
Attached Image
Making pips is easy, holding 'em is hard - Pipsopolis
  • #36
  • Apr 25, 2007 4:12pm Apr 25, 2007 4:12pm
for today, I suppose we considered a sell around 237.75 and beyond. However, it triggered only 237.75, and I put a target at 237.60 where the EMA was, which is around 15 pips profit. And I got it Anyway very bad day for GY, waiting for more volume in the future.

Well, I first put my TP at the level of EMA plus spread for buy, but after the NZ rate decision, i moved it lower to 237.50, so I actually got 25 pips. I am happy I didnt consider closing the trade before 17 EST as stated in the theory.
We leave no soldier behind.
  • #37
  • Apr 25, 2007 4:17pm Apr 25, 2007 4:17pm
Quoting gagiul
for today, I suppose we considered a sell around 237.75 and beyond. However, it triggered only 237.75, and I put a target at 237.60 where the EMA was, which is around 15 pips profit. And I got it Anyway very bad day for GY, waiting for more volume in the future.

Well, I first put my TP at the level of EMA plus spread for buy, but after the NZ rate decision, i moved it lower to 237.50, so I actually got 25 pips. I am happy I didnt consider closing the trade before 17 EST as stated in the theory.
Nice job,
We have to close the trade manually at 2000 EDT not 1700.
Making pips is easy, holding 'em is hard - Pipsopolis
  • #38
  • Apr 25, 2007 4:23pm Apr 25, 2007 4:23pm
GJ:
2 positions triggered and closed with +20 and +30 pips. Cancel the third position.
Cable:
box is between 2.0059 & 2.0003. We'd rather buy so:
Long at 2.0014, 2.0009 & 2.0003
S/L: 1.9992
T/P: 2.0027 (dynamic)
Two positions are already in play and in the money
Attached Image
Making pips is easy, holding 'em is hard - Pipsopolis
  • #39
  • Apr 25, 2007 10:57pm Apr 25, 2007 10:57pm
Quoting sahamdarjoz
ٍElmer,
This is how I got it:
All three were triggered and I closed all three manually right before London session started at 2.0044 (as was in the rules). So my reading is: -13 pips, -4 pips, +5 pips.
I post an average of three positions because posting the sum of the pips gained or lost does not look right to me. So -4 pips in Cable

I see, well, I gess my entry did not trigger as presicely, and my exit was different to... that explains the differences. Ill try to be more rigorous today.
The average loss you calculate, I prefer to see the brutal bad news without dividing it by three:-)

Anyway thanks a lot for the picture, I see if I can getit right next time
elm
  • #40
  • Apr 26, 2007 1:53am Apr 26, 2007 1:53am
Good day on the cable. (25.april afterhours...)
This day it goes like in a textbook, all across the box range. looks like there is about 35 and 40 pips for those who stay with the trend even past the EMA.

I like it.. :-)
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