- #1,002
- Mar 13, 2018 8:18am Mar 13, 2018 8:18am
- Joined Oct 2010 | Status: Trader | 1,536 Posts
About 30 mins after US CPI data bought EU on H1 signal. Initial target is 1.24 but will exit manually if necessary. Let.s see how it goes
Same view from M15
Same view from M15
- #1,003
- Edited 9:50am Mar 13, 2018 9:36am | Edited 9:50am
- Joined Oct 2010 | Status: Trader | 1,536 Posts
EU not cooperating 
I'm shocked LOL!! Added another long @ 1.2350. TP for both trades now 1.2374.
I'm shocked LOL!! Added another long @ 1.2350. TP for both trades now 1.2374. - #1,004
- Mar 13, 2018 10:06am Mar 13, 2018 10:06am
- Joined Oct 2010 | Status: Trader | 1,536 Posts
Nobody said it was easy
! Finally out of that trade with + 25 pips. Had to look at MTFs to monitor this one. I'm not making excuses, but my "esteemed" President decided to fire his Sec of State during my trade. The nerve of some people, yeeesh!! But it turned out OK so I'll shut up. Of course, after my exit it went up further. Oh well.......and so it goes. Take what the market will give and move on.
! Finally out of that trade with + 25 pips. Had to look at MTFs to monitor this one. I'm not making excuses, but my "esteemed" President decided to fire his Sec of State during my trade. The nerve of some people, yeeesh!! But it turned out OK so I'll shut up. Of course, after my exit it went up further. Oh well.......and so it goes. Take what the market will give and move on. - #1,005
- Edited 2:01pm Mar 13, 2018 1:39pm | Edited 2:01pm
- Joined Oct 2010 | Status: Trader | 1,536 Posts
PA is taking a breather so I'd like to address a few things people have asked me about.
Please keep in mind that I am not am not a signal provider. I don't have a problem trying to help anyone who asks about trading, as in how to be more skillful at trading, or questions about how I use the Genesis signals. But please don't ask me my opinion on how a particular currency or currency pair might perform. I may have an opinion, but I don't know any more than you do about what the market is going to do. To quote realjumper from the original Genesis thread, which is kind of like a trading Bible to me, "Quite clearly, no one knows where the PA is going next and we are not going to make guesses at it. We trade the Genesis Matrix System, we do not make predictions." The other thing is, and it's probably better if I just flat out admit this in public, I am, without a doubt, the world's worst at predicting the future market direction. I am TERRIBLE at it. It is why I never get involved in those types of discussions here on FF, because I don't have a clue. I have the utmost respect for traders who consistently make accurate calls using whatever their analytic style is. I am slowly learning how to do this myself, but I am definitely not someone who should be advising other people where to invest their money for future profit. I am uncomfortable responding, because I would love to help, but, take it from me, there are a whole lot of people that are better at it than I and if you could refrain from asking those type of questions I'd appreciate it.
A question that I can help with, because I struggled with it myself (still do), is, "Many of the Genesis signals look the same, and sometimes there is strong movement and sometimes very little movement. How can I tell which signals to take, and which to ignore?" I'm going to suggest some practice. realjumper calls this IFR trading as opposed to VFR trading. This practice exercise helped me a lot. Please read https://www.forexfactory.com/showthr...fr#post6015643 Post 4.139 and
https://www.forexfactory.com/showthr...27#post6215027 , Post 7,596,
or you could ust use your own charts, just delete the price bars /candles and the 5ema. Reading just the Genesis Matix and the stochastic signals (I would also, just for this exercise, delete ASCTrend 2 TF if you use it) mark the entries and exits that you think is a good signal. When you are finished turn on your price bars / candles and see how you did. If you are "stochastically challenged", as I was, or your entry and exit timing could use some fine tuning, please try this. You won't regret it. Below is an IFR trading practice example example and results of the sample exercise. I hope this helps to improve your skills.
IFR Sample exercise, Today's USDJPY M5 from London Open to about lunchtime in NY, which I did not trade today: Green lines are entries, marked (price bar Open), Red lines are exits, (marked price bar Close) Magenta dotted line is London Open, Gold dotted line is NY Open. I promise this was done with only Genesis Matrix and Stochastics.
IFR sample result (tun on price bars)
IFR practice result with Heiken Ashi
IFR practice result with full GMTS chart
Please keep in mind that I am not am not a signal provider. I don't have a problem trying to help anyone who asks about trading, as in how to be more skillful at trading, or questions about how I use the Genesis signals. But please don't ask me my opinion on how a particular currency or currency pair might perform. I may have an opinion, but I don't know any more than you do about what the market is going to do. To quote realjumper from the original Genesis thread, which is kind of like a trading Bible to me, "Quite clearly, no one knows where the PA is going next and we are not going to make guesses at it. We trade the Genesis Matrix System, we do not make predictions." The other thing is, and it's probably better if I just flat out admit this in public, I am, without a doubt, the world's worst at predicting the future market direction. I am TERRIBLE at it. It is why I never get involved in those types of discussions here on FF, because I don't have a clue. I have the utmost respect for traders who consistently make accurate calls using whatever their analytic style is. I am slowly learning how to do this myself, but I am definitely not someone who should be advising other people where to invest their money for future profit. I am uncomfortable responding, because I would love to help, but, take it from me, there are a whole lot of people that are better at it than I and if you could refrain from asking those type of questions I'd appreciate it.
A question that I can help with, because I struggled with it myself (still do), is, "Many of the Genesis signals look the same, and sometimes there is strong movement and sometimes very little movement. How can I tell which signals to take, and which to ignore?" I'm going to suggest some practice. realjumper calls this IFR trading as opposed to VFR trading. This practice exercise helped me a lot. Please read https://www.forexfactory.com/showthr...fr#post6015643 Post 4.139 and
https://www.forexfactory.com/showthr...27#post6215027 , Post 7,596,
or you could ust use your own charts, just delete the price bars /candles and the 5ema. Reading just the Genesis Matix and the stochastic signals (I would also, just for this exercise, delete ASCTrend 2 TF if you use it) mark the entries and exits that you think is a good signal. When you are finished turn on your price bars / candles and see how you did. If you are "stochastically challenged", as I was, or your entry and exit timing could use some fine tuning, please try this. You won't regret it. Below is an IFR trading practice example example and results of the sample exercise. I hope this helps to improve your skills.
IFR Sample exercise, Today's USDJPY M5 from London Open to about lunchtime in NY, which I did not trade today: Green lines are entries, marked (price bar Open), Red lines are exits, (marked price bar Close) Magenta dotted line is London Open, Gold dotted line is NY Open. I promise this was done with only Genesis Matrix and Stochastics.
IFR sample result (tun on price bars)
IFR practice result with Heiken Ashi
IFR practice result with full GMTS chart
{quote} Interesting challenge I think I may try this, I tried genesis around a year ago but could not profit .. since then my price action skills have improved a lot and i'm doing well on tms ...but would like to master genesis tbh I will definitely give this a go over the next few days or weekend. I don't expect i'll do well, but we'll see......
And contrary to popular opinion its very good practise for trading any timeframe. I think people might need 10,000 hours practise on h4 but nowhere near so long on 5m
Success means going from failure to failure without loss of enthusiasm
- #1,008
- Mar 13, 2018 5:01pm Mar 13, 2018 5:01pm
- Joined Oct 2010 | Status: Trader | 1,536 Posts
{quote} Interesting challenge I think I may try this, I tried genesis around a year ago but could not profit .. since then my price action skills have improved a lot and i'm doing well on tms ...but would like to master genesis tbh I will definitely give this a go over the next few days or weekend. I don't expect i'll do well, but we'll see......
Tell you what......I'll tell you what I (usually) do, or look for on GMTS. If you can do this on the IFR exercises you will be able to use GMTS effectively. How about You practice it for a bit as an IFR trading exercise, and let us know what you think?
I recommend doing this from London Open to London Close. If that is inconvenient, find the period of highest trading volume that is convenient for you. I live in Chicago. London opens at 2 a.m. and closes at 11a.m. New York opens at 7a.m. giving me 4 hours of overlapping volume. We can still trade after 11 a.m., but it's different, a little more subdued. Anyway, here's what I suggest:
Entries: (The most successful, the most profitable trades are trades that were entered in the BEGINNING of a trend, not the middle or end)
1) MTF stochastic breaking, or at the very least, touching, the 50 level from below for a buy, from above for a sell, with some space between the signal lines.
2) The current time frame stochastic heading in the same direction as the MTF stoch with some space between the signal lines. The current TF stich doesn't have to be above the 50 level, but it probably will be. Both stochastics should be relatively "healthy", not flat or at a "weak" angle, clean lines, not breaking up.
Exits: (A little more subjective, and a little trickier, but with practice you will start to see)
1) For the purposes of this exercise, just close when you feel the MTF stochastic exits the 80 or 20 zones, OR it crosses the 50 line in the opposite direction. You may see a sharp break in the signal line (not unlike the TDI indicator), but I would wait until you see the signal lines pinching together or crossing.
2) If both stochastics are above or below the 20 or 80 levels, wait for the MTF stoch to leave that zone, no matter what the current TF stochastic does.
3) The MTF stochastic has begun to travel in the opposite direction and Genesis begins to signal a new trend.
Note: For IFR practice, I purposely left out any references to ASCTrend indicators the 5ema, pivots, and/or round numbers.
Consider this chart:
Analysis
Let's see the result
Yes, we could argue that we could have exited and re-entered in several places on the chart. My point is, we often watch PA and get scared we're going to lose our money. I know I do. This practice takes away the added stress of price action, opens and closes above / below MAs, pivots, support and resistance, etc Just the indicators. If you can do this, you sure as heck can trade a full chart. OR, maybe you won't want to.
- #1,010
- Mar 14, 2018 11:58am Mar 14, 2018 11:58am
{quote} Glad to hear you're doing well with TMS. I tried TMS as well. I really don't know why, I just have had better success with GMTS. I'm not comparing which is better. I know a lot of traders who love that system, or at least the TDI indicator. Hey, if it helps you make money , use it. Tell you what......I'll tell you what I (usually) do, or look for on GMTS. If you can do this on the IFR exercises you will be able to use GMTS effectively. How about You practice it for a bit as an IFR trading exercise, and let us know what you think? I recommend...
I can't seem to get the mtf stoc to work with the trading simulator, i've tried a few and they don't work
this happens....
which one are you using??
- #1,011
- Mar 14, 2018 1:16pm Mar 14, 2018 1:16pm
- Joined Oct 2010 | Status: Trader | 1,536 Posts
{quote} I can't seem to get the mtf stoc to work with the trading simulator, i've tried a few and they don't work
Edit: I just realised....the #mtf stoch may not run with the Trading Sim, so will have to run the standard M5 stoch on the M5 chart etc.....sorry.....I forgot about that.
RJ
On my trading charts I use MTF Stochastic 2.1., v2.0 doesn't work with MT4 Builds 600 and above, and I don't like the colored stochs. Some traders swear by them, I hate 'em, just preference that's all.
- #1,013
- Edited 7:31am Mar 15, 2018 12:57am | Edited 7:31am
- Joined Oct 2010 | Status: Trader | 1,536 Posts
{quote} ok i'll try your one. I have MTF stochastic 2.0 ...and I can assure you it works on normal MT4 charts, [...but apparently not the trading simulator] {image}
Edit: I just took a look at MTF Stoch v2.0, The difference between versions 2.0 and 2.1 is for 2.0 you have to set the time period manually when you change your current time frame. v2.1 can be set for either manual adjustment or auto change. If I remember correctly, it's not just MTF Stoch that doesn't work on the trade simulators, I'm pretty sure it's the same for all MTF indicators.
- #1,014
- Edited 10:21am Mar 15, 2018 8:32am | Edited 10:21am
- Joined Oct 2010 | Status: Trader | 1,536 Posts
Let's trade live together using only our "instruments". Bought GBPUSD @ 1.30461. Green lines indicate point of entry MTF stoch healthy and above 50 level, current TF stoch moving up. 2nd Genesis signal agrees. In on the 2nd signal Open. Now our job is to exit with a profit. This chart has no MAs, pivots, round numbers, or ASCTrend indicators. Just price bars
- #1,015
- Mar 15, 2018 8:39am Mar 15, 2018 8:39am
- Joined Oct 2010 | Status: Trader | 1,536 Posts
Now both stochs are above the 80 level. Forget about the pip count for now. No big news event that I'm aware of. We're watching our indicators.
- #1,016
- Mar 15, 2018 8:47am Mar 15, 2018 8:47am
- Joined Oct 2010 | Status: Trader | 1,536 Posts
Price has receded. Current TF stoch starting to show downward movement. MTF stoch still up, but, there's a break in the line and it is no longer above the 80 level. As the song says, "Should I stay or should I go?" I will stay for now.
- #1,017
- Edited 9:11pm Mar 15, 2018 8:55am | Edited 9:11pm
- Joined Oct 2010 | Status: Trader | 1,536 Posts
Price went down, bounced off my entry, heads back up. The MTF stoch is STILL abobe the 50 level. I am not paying much attention to the current TF stoch or the Matrix at the moment. That will come later.
- #1,018
- Mar 15, 2018 9:00am Mar 15, 2018 9:00am
- Joined Oct 2010 | Status: Trader | 1,536 Posts
Now the current TF stoch has turned up and the MTF stoch is no longer creossed, AND is STILL above the 50 level. Are we having fun yet?
- #1,019
- Edited 9:47am Mar 15, 2018 9:28am | Edited 9:47am
- Joined Oct 2010 | Status: Trader | 1,536 Posts
I exited at 1.30626. Again, forget about the pips. Why did I exit? Stochs are now headed in OPPOSITE directions. We're near an obvious Resistance level. Price looks to be conglomerating. Plus the Matrix was screaming at me that this one was all but over. My point of this is to show that pips can be made with the tools we have here and the edge they give us. Edit: Price eventually went higher, around 3085 after my exit. I'm OK with what I did because I did what I thought was in the best interest of the trade. Got the middle two thirds, so I'm OK
Didn't mean to monopolize the thread, just wanted to show what is possible. Have a great day everyone!!
Didn't mean to monopolize the thread, just wanted to show what is possible. Have a great day everyone!!