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JetTrader: Developmental Live Cash Journal
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JetTrader: Developmental Live Cash Journal

  #101 (permalink)
Trading for Fun
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Notes:

Omega-Tac = 64
Omega-Sac = 57

- OmegaWave Peak exhaustion level reached.
- Distinct Vega Trailing now higher than Omega-Abs residual after OmegaWave intersection.
- OmegaWave entering compression phase.
- OmegaWave signal reversal imminent.
- Time = 14:45

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  #102 (permalink)
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Just got an idea. I can test this along with the current OmegaWave entry protocol.

OmegaWave is all about momentum. Currently, the signal logic utilized the residual momentum after the Omega-Absolute intersection with the OmegaWave (the details of which have been described many times inside this thread).

Question: What would happen if I simply point my trade in the direction of the Global Signal (seen in most all the chart pics inside this thread) at the start of each H1 bar?

That a very interesting question and I'll jump on it during the start of the 1600 hr H1 bar. If my hunch is correct, that initial trade should yield at least 1/4 (25%) of the total available Omega-Absolute for the hour. I visually did that during this hour and thus far, the net pips on a Short trade immediately at the open of 1500, has been 17 pips thus far, which is 32.78% of the current OmegaWave median value (Omega-Tac + Omega-Sac / 2).

This won't be enough to lead all the way to the Omega-Abs intersection with OmegaWave, but it could provide another high probability trading opportunity, given the need for Omega to develop.

So, the key would be the strength of the Global Signal at the time of entry and I'll have to start recording that data in order to see if there is any correlation between Omega-Abs and Global Signal magnitude at H1 Bar = Time 00:00.

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  #103 (permalink)
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Following along with that idea...

Global Signal at start of H1 1500 bar:

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Result after 25% move on H1 bar:

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  #104 (permalink)
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1600 Global Start to 25% OmegaWave: Short at 3443.1

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Let's see how this idea works out.

OmegaWave (Omega-Tac + Omega-Sac / 2) = 55 pips
Target = 25% of OmegaWave, or 13.75 pips.
Current: +8.5 pips
Closed at 3450.
Net: -6.9 pips.

MFE = +10.1 pips.

So, with the OmegaWave in compression phase, it looks like I'll need to adjust downward the pip target, as that target was missed by about 3-4 pips before the Wave took things in the opposite direction.

Also, it looks like this could provide some insight into when the internal H1 pivot may occur. If by the end of the M30 bar, H1 Omega has not reached at least 25%, then I have to wonder if that triggers an internal pivot in the H1 - given the fact that Omega typically wants to expand, even when under compression.

So, now I have two more internal key performance indicators to look for and record. I'll try another one in the 1700 hour and see what the MFE looks like then.


Last edited by JetTrader; September 22nd, 2011 at 01:34 PM.
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  #105 (permalink)
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Stepped away from my desk and missed the 1600 OmegaWave signal. It was Long at 1.3486. Did not participate.

Correction - the Long entry would have been 1.34876, not 1.3486.

Exit on the end of the hour at 1.3498.
Net: +10.4 (unrealized)

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  #106 (permalink)
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Did not take 1700 hr Entry on Global Signal at H1 start. Having some problems with TinyPic - trying to switch over to PhotoBucket.

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  #107 (permalink)
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Photobucket test:

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Too fuzzy.


Last edited by JetTrader; September 22nd, 2011 at 02:47 PM.
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  #108 (permalink)
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ImageShack test:

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Removed.
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Last edited by JetTrader; September 22nd, 2011 at 02:47 PM.
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  #109 (permalink)
Trading for Fun
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Posts: 187 since Apr 2011
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1700 OmegaWave pending.

To try an ease the typing load, I'm going to simply post a trade profile from now on with the pic of the screen at the end of the trade. That way, I don't get caught trying to manage a trade and getting an image posted at the same time, which adversely impacts my trade management (entries and exists).

Entry Profiles will look like this:

Time of Trade
Name of Trade Type
Direction
Entry Level
Pips Expected
Stop (if used)

Exit Profiles will look like this:

Disposition of trade
Exit Level
Net pips

The pic will then appear underneath the exit profile showing the results.

Mike:

If possible (just an idea), it would be nice if there was a way for you to add Templates to the Trade Journal portion of the forum. Essentially, it would be user definable such that one could create their own Trade Profile Templates under their username (like above) and then simply fill in each line before posting (return key would tab down to the next field in the template). This would greatly expedite posts and put more focus on trading - if this is possible, of course.

Just an idea.


Last edited by JetTrader; September 22nd, 2011 at 02:59 PM.
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  #110 (permalink)
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Posts: 187 since Apr 2011
Thanks: 12 given, 161 received


Entry Profiles:

1800
Global on Start of H1 to 25% of OmegaWave
Short
3451.4
14.62
None

Notes: 50 Minutes remaining. Paying more attention to the volatility in the M5/M15/M30 bars and looking to see if there is a correlation in their Omega-Abs values that points to a possible H1 pivot, if H1 fails to yield 25% of its Omega-Abs by the end of the first 30 minutes or so. First 15 minutes sees MAE of about 16% of Omega-Abs. I'll start tracking quarter hour data on MAE as well, to see if there is additional correlation. MFE has been negligible during the first 15 minutes of the hour.

Closed
3468.1
-16.7 pips

An almost exact repeat of the first attempt, with something of an explosive M5 move after about 16% of Omega-Abs. This one ran through the OmegaWave entry to the upside (which I missed again due to typing the notes). So, at this point, with back-to-back failures to produce 25% in the Global direction - I cannot say that there is concern for finding correlation between the two that would be consistent enough for me to trade.

Back to OmegaWave on Intersection.

1900 hr pending....


Last edited by JetTrader; September 22nd, 2011 at 03:26 PM.
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