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Genesis Matrix Trading 22,277 replies

Additional Indicators for the Genesis Matrix Trading System 683 replies

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Genesis - continuation

Anthm, thanks and trust you're well. (got your email thanks, had house guests and couldn't respond straight away but pleased to hear your news, hope you are enjoying the new challenges??)

Hi Rooi, hope you're well too.
I'm not sure if I have got the right handle on your question above but I'm going to answer it in 2 ways anyway so maybe one of them fits!?!

I have posted a chart below showing the signal on the following bar.

Like you I most likely wouldn't have entered immediately after your signal due to high SL.

Firstly, I need to explain my motivation at this stage. I'd already banked 10 pips so was now looking to supplement that up to around 20 total and had no intention of letting my day become a losing one, so my actual SL was 9 come what may. You may have noticed I only had 1 TP on the trade and not the normal 2.

If I'd had your signal then when price reached +5/6 I would definitely have revised SL to BE. Initially it got to +7.5. I may well have considered closing for +6/7 here as 16/17 total for the day is fine for me. If I'd let it run then before or after it reached +12, I would definitely have closed, probably around 10.
When in this frame of mind I'm really watching price movement closely for pauses, weakness, reversing, levels etc and I'm just trying to get the most beneficial exit in that particular area. For the sake of a few pips I never push for more to satisfy a target, I have to be realistic and consider what is on offer.

On the other hand if it had been a normal trade using your signal with 2 TP's I'm sure it would have been around +7 & +10.
Hope this helps, regards, strada.
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Hi all,

Something I have been running into is the amount of resources this takes. Computer it's on it a newer gaming style computer so I don't think that's the issue. Any ideas on where to start looking?

Edit; I figured it out. Too many bars in history.
Quoting strada
Anthm, thanks and trust you're well. (got your email thanks, had house guests and couldn't respond straight away but pleased to hear your news, hope you are enjoying the new challenges??) Hi Rooi, hope you're well too. I'm not sure if I have got the right handle on your question above but I'm going to answer it in 2 ways anyway so maybe one of them fits!?! I have posted a chart below showing the signal on the following bar. Like you I most likely wouldn't have entered immediately after your signal due to high SL. Firstly, I need to explain my motivation...

Makes perfect sense thank you very much.Thank for the explanation

Then I wanted to ask about the entry from the retrace and the continuation like shown in the in the screenshot.
I see then that you dont wait for the low to be taken out like ABC pattern,is that correct ? (as per screenshot attached )

Always a pleasure to see your chart so thank for taking the time to share it

Hope you have a good weekend and that we might see another chart some time int he future

Rooi
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We miss 100% of the shots we don't take
Quoting Rooi
{quote} Makes perfect sense thank you very much.Thank for the explanation Then I wanted to ask about the entry from the retrace and the continuation like shown in the in the screenshot. I see then that you dont wait for the low to be taken out like ABC pattern,is that correct ? (as per screenshot attached ) Always a pleasure to see your chart so thank for taking the time to share it Hope you have a good weekend and that we might see another chart some time int he future Rooi {image}
That's correct Rooi, in that situation at that time when the market is likely looking for direction I'm more inclined to enter based on the signal close (with the usual 1 pip price improvement). In that situation, if price doesn't break the previous low then I have something else to think about. If it reverses away from the previous low then I'll be prepared to look for an exit if PA so determines. If it becomes rangebound then I'll look for best exit nearest BE.
If this scenario occurs in an established tight range then I'll look at hi/lo's to break.
This comes under my heading of "Looking for reasons to take the trade - rather than looking for reasons NOT to take the trade"
As you have heard me say many times - I'd rather be in a (signalled) losing trade than be out of a (signalled) winning trade. So unless there is a very obvious and strong reason for not using a signal, I will enter and then manage it according to the terrain around me.
Have a good weekend yourself, all the best, strada.
Quoting strada
{quote} That's correct Rooi, in that situation at that time when the market is likely looking for direction I'm more inclined to enter based on the signal close (with the usual 1 pip price improvement). In that situation, if price doesn't break the previous low then I have something else to think about..
Hi Strada

Thank you for getting back to me,after really exclusively working with this way of trading the last +/- 8 months I have often wondered about small things like you mentioned in your previous post and now I know where you stand regarding that so it clears it up very nicely thank you.

I get where you are coming from regarding the before mentioned example and the "Looking for reasons to take the trade - rather than looking for reasons NOT to take the trade" . So what are your thoughts on the following bunch of trades that presented themselves on Friday afternoon.

There SL's are what I would consider on the too large side yet often they are able make it to the +6 mark for a TP1 and SL to BE but due to the higher volatility often get stopped out for the +6 and BE and then due to the bigger SL 1 reversal will often undo 3 good trades worth of TP1's so I often tend to have a fixed SL of 6 - 8 pips (like you had on your second trade on Friday) and take the loss without a reversal forming but that leaves one open to just getting shaken out on the retrace before it continues in the original direction.I know there are no magic answer to the example I am showing but would you have traded all the trades as shown in the screenshot or which would you have taken and which would you have left.

Thank you for your time and effort and patience that you take when responding to me

Good luck for the week

Rooi
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We miss 100% of the shots we don't take
Hi Rooi
Most of the signals shown on your chart with the large SL's I would not have considered initially.

However what did happen with some of them was that price action following the signals produced new levels offering much better SL's. In this case I'll consider a late entry using the original signal but SL's based on new levels to the right of the signal.

Another tactic I sometimes use comes into play on the first signal on your chart. Immediately after the signal bar, price moved positively more than 1 pip. So I will consider that a properly signalled trade is currently in play but I'm not in it due to the original high SL (my choice). Price then reversed up to around the same high area of the signal bar and another bar 3 previous to that. So now what we have is like a mini resistance area here. I might then consider an entry when price drops away from that high area and use those highs for my SL which can be as low as 2/3/4. My attitude here is that there is a legitimate trade in progress here with no obvious reason yet for an exit so why not join the party late on a much better entry price and really cheap SL.

So some of the signalled trades could have been entered using the above variations. When I have more time I'll run through some of them to seee whether they would have been profitable or not. At first glance some of them worked out at least for TP1 around 7/8.

Some of the signals you illustrated didn't materialise for me as I still use the stochs.

Hope this helps, all the best, strada.
Quoting strada
.
Hi Rooi
Most of the signals shown on your chart with the large SL's I would not have considered initially.

However what did happen with some of them was that price action following the signals produced new levels offering much better SL's. In this case I'll consider a late entry using the original signal but SL's based on new levels to the right of the signal.

Yes I get where you are coming from and glad to hear I have extracted your meaning correctly regarding this


Another tactic I sometimes use comes into play on the first signal on your chart. Immediately after the signal bar, price moved positively more than 1 pip. So I will consider that a properly signalled trade is currently in play but I'm not in it due to the original high SL (my choice). Price then reversed up to around the same high area of the signal bar and another bar 3 previous to that. So now what we have is like a mini resistance area here. I might then consider an entry when price drops away from that high area and use those highs for my SL which can be as low as 2/3/4. My attitude here is that there is a legitimate trade in progress here with no obvious reason yet for an exit so why not join the party late on a much better entry price and really cheap SL.

I have the same approach now that I saw in your examples and those are my favorite trades.Bread and butter trades if I might use those words.Which setup would you say you like the most?AND just to confirm you do have like a set bunch of "patterns" either on paper or in your head that you can say they really stand out and often repeats themselves daily or a couple of times a day/week ?

So some of the signalled trades could have been entered using the above variations. When I have more time I'll run through some of them to seee whether they would have been profitable or not. At first glance some of them worked out at least for TP1 around 7/8.

They do all make it to TP1 (except for trade 9) and that is/was/has always been something I was unsure about your "view" on them when the SL is that big.So just to 100% confirm : You would simply let the trade go if your SL was to big and then see how to proceed further down the line or later in the move

Often we might act differently in the same situation but I like to be able to say to myself in my head that Strada would have done this or that in that situation or maybe even not been in that situation so that even if knowingly I do something different at least I have the other side of the coin knowing what another option might have been from someone that has very good track record with making high probability decisions


Some of the signals you illustrated didn't materialise for me as I still use the stochs.

Glad to hear you say that.So if the SLs are to big or the setups isn't right then you simply sit and wait till it fits your risk tolerance even if the signals play out nicely one after the other as frustrating as it might be you would just sit and wait for the "right" ones to come along.

Hope this helps, all the best, strada.

One last question when you have a second please....

In the previous screenshot we see a short form with one matrix block being red yet we dont see improvement so no trade BUT let imagine for a second that all our entry requirement are met for that short and we have decent size SL and we enter short and within seconds we see that massive bar higher taking us out at our SL,no problem we need to have losers sometimes as well but now we are faced with that massive spike and a massive SL on the long side.Would you still just be waiting to see what happens and then wait for cheaper SL to appear even if the market might move a really big amount pips and you are losing out on the big push.Is that when we just have to accept the limitations of your system and wait for a proper signal to come along?

Thank for taking the time to answer.It really does put a wondering mind at ease.

All the best for the week

Rooi
We miss 100% of the shots we don't take
"In the previous screenshot we see a short form with one matrix block being red yet we dont see improvement so no trade BUT let imagine for a second that all our entry requirement are met for that short and we have decent size SL and we enter short and within seconds we see that massive bar higher taking us out at our SL,no problem we need to have losers sometimes as well but now we are faced with that massive spike and a massive SL on the long side.Would you still just be waiting to see what happens and then wait for cheaper SL to appear even if the market might move a really big amount pips and you are losing out on the big push.Is that when we just have to accept the limitations of your system and wait for a proper signal to come along? "

Hi Rooi, If that scenario arises then that trade is over for me and I'll wait for the next fresh signal to evaluate.
Regards, strada.
Quoting strada
" Hi Rooi, If that scenario arises then that trade is over for me and I'll wait for the next fresh signal to evaluate. Regards, strada.
Hi Strada

Perfect,very clear

Rooi
We miss 100% of the shots we don't take
Hi Strada and Rooi
Not really Genesis but as we know it G1M,

Had a play before work, running out of time, did however achieve my goal.

2 TP,s and trying to preserve some TP2 before it has a chance to roll back to BE SL. If Take 7 on TP1 trying to preserve at least 5 on TP2

Any thoughts?
Have to run

Anthm

Edit As I type Its well and truly gone North, I take it you captured it Strada?
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When you're in the land of HOPE, you're done, get out of there, WALK AWAY
Morning Anthm, very nice, pleased to see you're on 2 rather than 3 tp's. Think 2 is better on G1m overall.
I was on EU today, signal came earlier than GU. Just 1 trade and finished just after Frankie open.
Kindest regards, strada.
Quoting anthm
Hi Strada and Rooi Not really Genesis but as we know it G1M, Had a play before work, running out of time, did however achieve my goal. 2 TP,s and trying to preserve some TP2 before it has a chance to roll back to BE SL. If Take 7 on TP1 trying to preserve at least 5 on TP2 Any thoughts? Have to run Anthm Edit As I type Its well and truly gone North, I take it you captured it Strada? {image}
Hi Anthm

Nicely done

Here is what I had


Rooi
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We miss 100% of the shots we don't take
I prefer 5m time frame - I find it more relaxing (and it was quite rewarding today). I liked stochs and really nice r/r. Waited a bit for the second target, but I didn't mind.

So entry at signal as per rules and targets at MR2 and R2 with stop below the congestion low - nice & simple
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We miss 100% of the shots we don't take
...and again 5m and gbp/usd. Not as easy as yesterday, but still - shouldn't complain

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@IlyaSilver (and others as well)

You certainly have read the main thread, especially the first posts there and are aware of the thread rules: No additions, no fancy stuff/indicators, no candlesticks! To be disciplined is the first step towards a disciplined trader, which all successful traders are.

Regards
Great trades Demoreal, 5mins working well for you, long may it continue.
One trade for me today on EU, thought I may have been headed for the exit at frankie open. Not an unusual PA on the open but as so often happens, quick rebound bar allowing a reasonable exit if it had been required.
Good end result, daily target met.
Rgds, strada.
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Quoting Forex37
@IlyaSilver (and others as well) You certainly have read the main thread, especially the first posts there and are aware of the thread rules: No additions, no fancy stuff/indicators, no candlesticks! To be disciplined is the first step towards a disciplined trader, which all successful traders are. Regards
Wow.


You just posted for sake of telling us how wrong we are about what we are doing yet you dont show even one trade here or anything

Each to their own - We post it here because of the rules in the other thread.

Why put people down like that - You most probably dont trade GEN anyway so what am I wasting my time posting a response.

The way most of us trade GEN on the 1 min is nothing like the original method anyway.

Anyways

All the best to you

Rooi
We miss 100% of the shots we don't take
Quoting strada
Great trades Demoreal, 5mins working well for you, long may it continue. One trade for me today on EU, thought I may have been headed for the exit at frankie open. Not an unusual PA on the open but as so often happens, quick rebound bar allowing a reasonable exit if it had been required. Good end result, daily target met. Rgds, strada. {image}
Morning Strada

Well done

Late start for me and so had that crappy entry way to to late in the move and then forced it - Fear of losing out -

Still up a couple but will be looking for some more

Thanks for your chart and sharing - You traded EU because the signal came first or was there another reason?

Rooi
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We miss 100% of the shots we don't take
Nice one Strada

This was mine, I had fun today to finish +24.6
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When you're in the land of HOPE, you're done, get out of there, WALK AWAY
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