Genesis - continuation

Read through the original thread, plenty of backtests and forward tests: https://www.forexfactory.com/showthread.php?t=373796

Yes, for e.g. this post.

Xaphod, an extremely talented coder and a veteran trader, addressed this issue in Sept., 2015
"The MT4 strategy tester does not support multi timeframe backtesting. Any results from such backtesting are likely to be flawed and useless. MT4 will be using the current data in the history for the higher timeframes and reading bar closes before they close, essentially using future data to trade at the current (simulated) time."

"The genesis matrix trading system is not a mechanical trading system. It relies quite a bit on the traders ability to read and interpret the stoch indicator, among other factors."

From me, not Xaphod: The original thread consists of 22,277 posts covering 1,114 pages over a period of almost 4 years. Hundreds of charts, examples, explanations, videos, statistics, live trading results, etc. Proof of profitability? Nah.

Original Genesis Matrix Trading System, page one:
"Who we are. ‘We’ are small group of traders who’s style of trading is similar. Most of us trade to put food on the table, so it is our only income. Where possible we will help you and we will post trades and charts. However, we are not going to hold your hand and walk you through trades because you are too lazy to read this thread!" ............."This is not a system for noobies to FX trading. Do not come here asking and/or expecting to be shown how to trade.....the experienced traders will not show you any mercy!! Instead, please go to babypips/school and do their course. It is free and it is extremely good. You will learn much there.(realjumper, Original thread, page 1)

I sincerely make an effort not to be negative towards new traders or traders new to the Genesis Matrix Trading System. But this thread, Genesis- continuation, is also for like-minded traders who have similar approaches to trading. We participated in the original thread or we studied it extensively after the thread was closed and locked. We use the Genesis Matrix Trading System as a tool to give us an edge when making trading decisions. We have some trading experience under our belt, have been through hundreds (thousands?) of trading systems that promised us everything and delivered nothing. We have lost boatloads of hard-earned cash. Some of us have lost way, way more than cash. We learned the hard way how to spot who was blowing smoke up our behinds, and who was real. In the process we learned that even if a serious trader claimed to be profitable trading a particular way, that didn't necessarily mean we would too. We are very serious about our trading, and for some of us it is our sole source of income. We use Genesis because we tried it, made it compatible with the trading skills we already had, liked what we saw, and now we trust it. That is who WE are.

We are not here to prove anything to anyone. We are not trying to recruit people, disprove other trading methods, make converts, sell anything, make a name for ourselves, or change anyone's mind. We are also not here to teach basic trading skills. If you want to use Genesis then use it. If you don't then don't. Either way is fine with us. But if you feel like Genesis might fit into your trading plans, do your own due diligence. Take the time to study everything that is freely available for yourself. Please don't come here asking questions when you obviously have made less than zero effort to educate yourself first.

Speaking of the stochastic (and pivots) Have you checked these out?

Stochastic Trading explanation posted here by RJ
Stochastic Trading Movie posted here by RJ
Stochastic Indicator (more info) posted here by Oliverforex
Stochastic Divergence info posted here by RJ
Stochastic Question answer posted here by RJ
Stochastic Interpretation with clarity posted here by jjre65
How to add M15 and M5 Stochastic to the same chart posted here by Cody
An explanation and information on Pivots posted here by wiz3003

This is some practice I did this morning. EURUSD M5 charts, March, 2018, London Open to London Close. ASCtrend, pivots, and round numbers deleted. Practiced entries and exits using Genesis Matrix, current TF and MTF stochastics along with Heiken Ashi and the 5ema. Solid green lines are entries on that candle's open. Solid red lines are exits on that candle's close. Generally, I will not enter trades immediately after a large spike. I mostly leave those alone no matter what the indicators say.

For entry set-ups I was looking for : 1) Genesis first signal, 2) Stochastics beginning to go in the same direction OR current TF stochastic is reversing and returning to the MTF after leaving the MTF earlier. (IMO the MTF stoch always takes precedence.) and 3) Of course I want to see candles closing above / below the 5ema. (It is VERY rare to not see that on a full Genesis signal.)

Assuming I like what I see from the stochastics and the matrix, entry trigger is the 2nd Genesis signal on that candle's open.
During the trade I am watching the stochastics. If the current TF stoch heads off on its own but the MTF stochastic deos not also turn, generally I'll stay in the trade. A change in direction of the faster stochastic will concern me, but if it reverses course before the MTF stoch starts following it, I'll hang on.

Main exit strategy: Both stochastics turn at the same time AND the candle closes opposite my direction AND (optional) if one or more of the matrix panels changes color, it definitely has my attention. Sometimes I'll exit just because I'm getting a feeling that the move is exhausted. Maybe the candles are shrinking and going sideways, or the HA keeps changing color, or I just feel the attempt to get a few more pips isn't worth the risk. Some of those final trend-ending candles can be expensive!!

Mind sharing this template? Like your overlap of both stochs in a single frame, well done bobby2.

Seems you've simplified your setups with less indicators focusing mostly on stochastics. Any particular reason why you not using ASCTrend, or the (ASCTrend) MTF Arrow? Or you using it live (just not on practice charts) ? And if so, are results showing more profits on practice or live trading?

Been silently following your latest posts, please keep up the excellent practice examples and live trades.

Thank you!

You obviously didn't read main thread.

From post #1:

How to add M15 and M5 Stochastic to the same chart posted here by Cody.

Hi aguarella, here is the template you asked for
For practice I sometimes try to eliminate things on my charts just to see how I do without them. This kind of practice has enabled me to see my charts with a different perspective. You know about the "too many shiny objects" thing, right? They can be distracting.

Many Genesis traders put both stochs in one window simply to save chart space. For others it's a visual perception thing (which is difficult to explain in text) Originally the set-up was 2 windows, till we discovered we could just copy and paste or just drag one onto the the other. I used 2 windows in earlier posts here because it's easier for new traders to visualize how they work together.

This is the template that I normally use for live trading.
This chart has ASCTrend 2TF Matrix under the Genesis Matrix but it is hidden. It also has FXI Pivots, BN Levels v1.02 (round numbers), and Auto SL and TS, which is a simple trade manager. I don't use the trailing stop but I use the TP, set at 6 pips for narrow, ranging markets. The marked sessions on the charts are Frankfurt Open(Europe), London Open, New York Open and London Close.

To answer your question about ASCTrend: Like I said, it's there on my live charts. But ASCTrend (arrows or matrix) were never meant to be used as a trade set-up or entry trigger tool. It's really there to give the trader some confirmation after the initial entry. It's there. Once in a while I peek at it, but I don't use it or depended on it to enter or exit. I used to, and I didn't do well. Others may have better results than I. Always do what's best for you. As for the arrows, I just don't like arrows on my charts. My main focus is on the stochastics and the matrix.

As for results, actually the biggest difference for me has been more confidence in letting winners run. So in that respect I am seeing larger pip totals when there is a strong run. But that happens so rarely that most of the time things are pretty much the same. The other thing is, when I'm watching the ASCTrend matrix, I often entered late because I was using it for entry criteria. Now I mainly look at it for exit confirmation.

I hope I answered your questions. If there is anything else, let me know.

I have been reading this thread and demo trading for the last week and decided to follow this thread. The entries are usually quite refined but I feel that we need a bit of tweaking on the exit(both tp and sl).

I'd like to invite everyone to share their exit strategy in terms of tp and sl if possible and I would like to experiment with them over the next weeks.

Here is the zip file for the charts I use. Auto SL and TS goes in the MLQ4/ Experts folder.
If you have any questions, please ask.

You can create any TF Stochastic as you wish people, using Stoch-MTF-AnyTF from this post.




GMTS-Matrix-AnyTF is also below there.

USDCHF M5 Long @ .9576 5 min before NY open. News coming in in 35 min. Full matrix, both stochs headed up. No TP. Stoh will tell me my exit.
After NY open price drops, HA red, still above 5ema, no change in stocs or matrix. Round number at 9575.

Price below, 5 ema and round number, 5 min stoch curling down, small break in MTF stoch. Watching closely but still long.
10 min before news and MTF stoch has not crossed yet.

Good morning,

be careful today - DJT's harsh tweets ref. Syria let Gold & Crude pop, USD down.
Bobby, great practice examples - thank you for this work!

Good luck
josch

Price went down only anout 6 pips on news, EUR pairs signaling sells, stochs comming back around. Still wary of Trump announcing military action. Watching closely. Now have a 6 pip TP.

It might go, it might not. Stochs and matrix say yes, Euro pairs mostly all now at support lines. This matters.

Now 35 min after news. FOMC statements later, expect ranging market till then. 6 pip TP still in play.

Moved PT to just under Daily R1, but may exit manually. I don't like the PA, lotta spikes both ways. Also watching EU which keeps bouncing off 1.2275

I exited with a couple pips. The PA made me nervous. No harm done. LOL!! Now price is going up again....and down again....oh well. Just wanted to give some example of how I generally think during a trade.

Took a losing trade today. Any comments? Did I make any mistake or is it just a losing trade anyway?