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

  #71 (permalink)
Trading for Fun
Edmonton, Canada
 
Futures Experience: Master
Platform: BARX
Favorite Futures: Currency Pairs
 
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Posts: 187 since Apr 2011
Thanks: 12 given, 161 received

And, just like that, MxO arrives on schedule. Unfortunately, it occurred to the downside, which further illustrates that OmegaWave is non-directional in nature. According to the numbers, had I been simply trading the OmegaWave and taking profits after each trigger, that last Omega-Absolute burst would have net a nice 58 pips in less than 30 minutes total (from the start of the 1800 hr bar). Of course, I was holding the Long from the Gap Closure and unable to respond to the move.

It looks like it might have been something in the news - I have still not checked my economic reports for this week, so it could have also been some economic indicator that caught the market by surprise. Currently sitting at +109 pips, but doing so in a very volatile H1 chart. Looking to retest as much of the day's high as possible before the setting up the exit as gracefully as possible.

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  #72 (permalink)
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Of, course. The Fed decides to buy Treasuries and the market uses that information to push the EUR down against the USD. If someone sneezes, this market will move. Still holding Gap Closure. I would expect the market to realize that what was said by the Fed, was already expected and not earth shattering, moving the EURUSD back to the upside at least temporarily.

Current +55 pips (that's a 100+ pip move on the Fed).


Last edited by JetTrader; September 21st, 2011 at 04:06 PM.
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  #73 (permalink)
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The 1800 hour OmegaWave signal to the Short side would have been very nice, with its strike through MxO. The Omega-Absolute intersection with the Omega-Wave happened at 3751.4, triggering the Short trade. That trade ran through MxO and had an absolute profit range of approximately +105 pips thus far, with 7 minute remaining until the end of the 1800 hr bar.

Illustrating that no matter what the news happens to be during the trading session, with OmegaWave, I'm always going to be in the right position to take advantage of the move. Of course, not when I'm holding a position in the opposite direction, which would not be the case in a production trading environment. Overall, very happy with the OmegaWave and its key performance indicators thus far.

Still holding he previous Gap Closure test - looking for a 1900 hr retracement. Current: +55.5 pips.

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  #74 (permalink)
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1900 bar commences now. There has been on strike on MxO. There could very well be a secondary strike on MxO and given the surge to the downside, that strike could come in the form of Short side retracement. Holding previous Gap Closure position Long. Current: +70 pips.

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  #75 (permalink)
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Another OmegaWave illustration. There is a reason why I call it the OmegaWave. Its form can be seen no matter where you apply the indicator throughout the history of the currency pair. This is a wide angle snap shot of the EURUSD H1 OmegaWave.

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Whenever you encounter such sinusoidal-like patterns in any traded financial market, you'd be wise to find a way to take advantage of it. Regularity, is what all traders seek. When I first discovered the wave form, being an engineer (among other things), my eyes lit up with curiosity because I knew that I was looking at nearly sinusoidal market behavior. And, sinusoidal-like behavior means predictive repetition. If you can couple a series of good Directional indicators with something like the OmegaWave concept, you can turn your trading into a virtual Pip Machine.

The OmegaWave totals for today were as follows (if traded):

1200 hr: +11 pips
1300 hr: +7 pips
1400 hr: -3.5 pips
1500 hr: +10 pips
1600 hr: -3.5 pips
1700 hr: +13 pips (strikes Minimum Omega-Absolute Value)
1800 hr: +105 pips (strikes Maximum Omega-Absolute Value)

* All entries would have been based on the Omega-Absolute intersection with OmegaWave (Omega-Tac + Omega-Sac /2) *

139 pips in the absolute profit range. You would then have to subtract your cost for doing business in the FX markets, such as: Slippage, Spreads and Trader Error upon entering and exiting orders. Usually, total costs will run about 15% of absolute profit range. So, net profits would have be in the 117 pips range for the day on OmegaWave trades.

So, while I get through this Weekend Gap Closure deal (which I did not expect to be in this week), I also get confirmation this week of the OmegaWave capabilities. Each day thus far, it has met and exceeded the profit requirements of my revenue model. That surprises me a bit, as initially I did not think that it could be used as a stand-alone trade signal. I could be wrong about that, it could be that good. We'll see.

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  #76 (permalink)
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Another OmegaWave signal. This time, the 1900 hr bar triggered a Short at 3642.8 (which was the Omega-Absolute [yellow bar] intersection with the OmegaWave [Gray and White MA lines]. The 1900 hr bar low was 3606.5, which makes the take profit range on the OmegaWave signal at 36.3 pips deep with a secondary strike on MxO.

[the white horizontal line in the H1 chart depicts the OmegaWave entry trigger level]

So, again. Got the secondary strike on MxO, supporting the OmegaWave key performance indicators - which is all good. However, I'm still holding the Weekend Gap Closure test and was unable to participate.

So, I can add 36.3 pips minus the cost of doing business to today's OmegaWave totals. It has been a very good OmegaWave kind of day. I think I'm going to like this one - it is like a little money machine.

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  #77 (permalink)
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Current: -4.9 pips.

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  #78 (permalink)
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Hyper-Volatility. Which will be very useful for OmegaWave. Not to useful for people holding Long positions through Weekend Gap Closures, however. LOL. Got-a-love it. Current: -15.8 pips.

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  #79 (permalink)
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Lessons Learned on Weekend Gap Closure:

1) All gaps get closed on high liquidity currency pairs (most of them, not all actually).

2) When the gap gets closed, exit the trade (most likely).

I've seen EURGPY gap all over the place and you can sit there and scalp tiny trades off the M1 chart all day long when she's really in "gap mode." But, I don't see a lot of Weekend Gaps that don't get closed during the latter stages of the late Sunday night session, before my work week begins. So, having seen another, I went for it and it worked out nicely, until the Fed news.

So, lessons 1 & 2 above, just might be worth me paying some attention to in the future. Of course, this is a live test, so I'm more interested in seeing the full scope of what's possible. Holding Weekend Gap Closure at current: -23.7 pips.

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  #80 (permalink)
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1900 is done. OmegaWave potential on that ran down to 3586.9, from an entry of 3642.8, for a absolute profit range of 55.9 pips minus the cost of doing business. 1900 closed on 3593.6, for a wire-to-wire net profit of 3642.8 to 3593.6, or 49.2 pips minus the costs.

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OmegaWave continues to hit its key performance indicators for profitability and usefulness as a viable trade signal.

Still holding previous Weekend Gap Closure Long at current: -25.1 pips.

This really does illustrate the differential between semi-HFT trading -vs- buy and hold, or sell and hold type trading methods.

Some big lessons being taught here for the wise.

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