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Genesis - continuation

  • #1,101
  • Apr 11, 2018 9:53am Apr 11, 2018 9:53am
zxh1828,

1st look it was a trade with some positive points to execute.
2nd look, I would mention:
- looking at the ASC M15 (you look at stochastic M15, but don't have ASC on screen), it was still white,
- it was the hour between FRA and LON open, sometimes there are simply reasonless reversals
- looking at s/r levels, price went to YH and then reversed, you executed into the last upmove.

But as always, behind the trade mostly it's all absolutely clear.

Good luck
josch
trading is war - life is simple
  • #1,102
  • Edited 12:02pm Apr 11, 2018 10:18am | Edited 12:02pm
Quoting zxh1828
Took a losing trade today. Any comments? Did I make any mistake or is it just a losing trade anyway? {image}
First of all, thanks for posting your chart. IMO, I see 2 technical mistakes in regards to Genesis trading, and possibly a 3rd general trading error.
1) It's not recommended to enter on the 1st matrix signal. If you see a 1st signal wait for the open of the following candle. If the matrix gives the same signal, AND both stochastics are still going your way, AND you have a Heiken Ashi candle that agrees with direction opening above or below the 5 ema, AND there is some space between S&R lines to make the trade worth your while, AND (if you use a SL) the SL is not too far away to make the trade cost-prohibitive,
Which brings us to:
2) While it's true the M5 stoch was indeed headed lower, look at the MTF stochastic. I hope you didn't enter that trade just because that thing turned red. But I'd like to call your attention to the direction of both stochastics. Yeah, the faster stoch moved down, but what did the MTF stoch do? Almost nothing. It changed to blue, but it remained just where it was. Then the faster stoch returned to the MTF stoch and then they went down together, which is what you want, giving you a fantastic trade.

The 3rd possible error is related to number 2. Look at the chart below which coincides with your trade. I'm talking about the trend. You entered a sell trade during an up trend. That in itself does not guarantee a loss, but it lowers the probability of a profitable trade.

Hope this helps.
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  • #1,103
  • Apr 11, 2018 12:23pm Apr 11, 2018 12:23pm
Quoting josch
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
I"m always careful josch Always good advice. Thank you for the kind words and your continued support. It's sincerely appreciated.
  • #1,104
  • Apr 11, 2018 4:50pm Apr 11, 2018 4:50pm
Quoting bobby2
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.
Seems you went in before candle close?
  • #1,105
  • Apr 12, 2018 1:40am Apr 12, 2018 1:40am
Quoting aguarella
{quote} Seems you went in before candle close?
I (tried to) enter on the open of the the 2nd Genesis signal (marked 2018,04,11 14:55:46). My entry was 0.05760. The open was 0.05756. Previous candle closed at 0.95755.
  • #1,106
  • Apr 13, 2018 1:14pm Apr 13, 2018 1:14pm
A practice exercise following bobby2 entry & exit set-ups, have I made any mistakes ? Suggestions? Thanks
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  • #1,107
  • Apr 13, 2018 2:42pm Apr 13, 2018 2:42pm
Quoting aguarella
A practice exercise following bobby2 entry & exit set-ups, have I made any mistakes ? Suggestions? Thanks {image}

Yes. The current trend for that day was upward, see H4 and D1 charts. The PA tried to break through y's high all day long, and failed. Never made past D-R1. So no trading EURUSD that day. That simple.
  • #1,108
  • Edited 9:33am Apr 14, 2018 7:22am | Edited 9:33am
[quote=aguarella;10963839]A practice exercise following bobby2 entry & exit set-ups, have I made any mistakes ? Suggestions? Thanks {image}[/quote

If you did this practice tick-by-tick I woudn't change a thing. I think you did a great job. You didn't post the pip total, but it looks to me to be about 25 pips. Nobody ever went broke taking profits. On this day EU was ranging, no big runs, but you still made money. Did you feel comfortable trading that way?
  • #1,109
  • Apr 14, 2018 11:57am Apr 14, 2018 11:57am
Quoting zxh1828
Took a losing trade today. Any comments? Did I make any mistake or is it just a losing trade anyway? {image}
I see 2 problems here:
1) Genesis ignores the relationship between higher and lower timeframes! That is weakest aspect of this system. Commonly your trade has been made in accordance with higher TF (H4, as I see). And the second problem evaluates from this circumstance:
2) Your stop loss is very tight for H4 trading. One-two hours after your SL was hit, market reversed in your direction, in accordance with H4 trend.
I have arranged Genesis with "three screen" principle, so I can see market situation overall (I use D1-H1-M5 TFs). Beside of this, "three screen" view helps me to see when market is ranging on H1 or H4. You have to understand, that if market is ranging on H1 or H4 - Genesis will drain your depo.
Good luck!
  • #1,110
  • Apr 14, 2018 12:13pm Apr 14, 2018 12:13pm
Quoting Rammstein73
{quote} Commonly your trade has been made in accordance with higher TF (H4, as I see).

Why? H4 TF said EJ should go up at this time.


Quoting zxh1828
Took a losing trade today. Any comments? Did I make any mistake or is it just a losing trade anyway? {image}
Take a look at M15 Stoch. Take a look at M15 chart with Genesis system aplied.
  • #1,111
  • Apr 14, 2018 12:45pm Apr 14, 2018 12:45pm
Quoting Botan626
{quote} Why? H4 TF said EJ should go up at this time.
Some retrace begun at this time. Stoch H4 was showing that. Wave up was finished and weaked.
And 132.41 level, established at march, 13-th, was touched and it could not be run through without any retrace or ranging.
  • #1,112
  • Apr 14, 2018 12:57pm Apr 14, 2018 12:57pm
Quoting Rammstein73
{quote} Some retrace begun at this time. Stoch H4 was showing that. Wave up was finished and weaked. And 132.41 level, established at march, 13-th, was touched and it could not be run through without any retrace or ranging.

H4 Stoch was barely moving downwards all day long, just fluctuations, no momentum in this movement.

All the rest can not be treated as a confirmation of a high probability trade, the PA was just ranging between y's high and DP.
  • #1,113
  • Apr 14, 2018 1:06pm Apr 14, 2018 1:06pm
Quoting Botan626
{quote} H4 Stoch was barely moving downwards all day long, just fluctuations.
H4 Stoch "fluctuations" could save SL in this trade and give some green pips. You can't ignore H4 Stoch "fluctuations" when you trade M5-M15. But this one is up to you. I have answered to other member, ok?
  • #1,114
  • Apr 15, 2018 11:37am Apr 15, 2018 11:37am
Thanks everyone for helping me! Your comments are very helpful. I have done some practice and really need a bit more help to get the hang of it. In the screenshot I identified 6 possible trades, if you have time, can you teach me which of these trades you think are good and which are bad and the reason why you think so?

For me, I think they are all good trades with both m5 pointing in the right way and good slope and seperation on m15 stoch, except #2 which does not have a very good m15 stoch.

Also, for the result, #1, #2, #4 and #6 turn out to be losing trade if the exit is on the turning of m15 stoch.

Thanks in advance!
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  • #1,115
  • Apr 16, 2018 12:28am Apr 16, 2018 12:28am
Quoting zxh1828
Thanks everyone for helping me! Your comments are very helpful. I have done some practice and really need a bit more help to get the hang of it. In the screenshot I identified 6 possible trades, if you have time, can you teach me which of these trades you think are good and which are bad and the reason why you think so? For me, I think they are all good trades with both m5 pointing in the right way and good slope and seperation on m15 stoch, except #2 which does not have a very good m15 stoch. Also, for the result, #1, #2, #4 and #6 turn out to...
Hi zxh1828. Could you do me a favor? Could you list, in order, your rules for entry? Just entry, not exits. I'm having a hard time seeing what it is you are doing.
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  • #1,116
  • Apr 16, 2018 12:54am Apr 16, 2018 12:54am
Quoting bobby2
{quote} Hi zxh1828. Could you do me a favor? Could you list, in order, your rules for entry? Just entry, not exits. I'm having a hard time seeing what it is you are doing. {image} {image}
My rules for entry:

1. At the start of the bar, matrix color lines up
2. m5 and m15 stoch point in the correct direction
3. m15 crossed over and shows good separation between fast and slow

Except #2, all the entries are in line with these rules
I do not use the asctrend for entry, I only use it for exit.
  • #1,117
  • Apr 16, 2018 2:46am Apr 16, 2018 2:46am
Quoting zxh1828
{quote} My rules for entry: 1. At the start of the bar, matrix color lines up 2. m5 and m15 stoch point in the correct direction 3. m15 crossed over and shows good separation between fast and slow Except #2, all the entries are in line with these rules I do not use the asctrend for entry, I only use it for exit.
I think you just need more time watching your charts. I've already shown many examples, live and off-market, explaining my ideas in reading Genesis charts. I don't know how to explain it any better. It does take some time to learn. I have a feeling you are just looking at stoch crossings up or down. Take a look at the slopes and where they started from. If the fast stoch is already above 80 or below 20 when the MTF stoch is just starting to head that way, chances are it won't go far. Look at your charts, see where price is in relation to the stochastic actions. Remambeer what you see because it WILL happen again OFTEN
Trades #1 and 2 were "no trades" Trade #1 was actually a decent exit point for anyone who caught the Bull Run I marked and hadn't exited yet. Trade 2 the MTF stoch is flat and the M5 stoch is all over the place.


Trade #3 didn't produce a lot of pips (0-15, depending on exit), but IMO was a good entry.
Trade #4 was also a "no trade", the stochs weren't even close to moving in the same direction.
Trade #5 as worth 30-45 pips so no problem there.
Trade #6 is exactly the same as Trade #4
  • #1,118
  • Apr 16, 2018 6:05am Apr 16, 2018 6:05am
Quoting bobby2
{quote} I think you just need more time watching your charts. I've already shown many examples, live and off-market, explaining my ideas in reading Genesis charts. I don't know how to explain it any better. It does take some time to learn. I have a feeling you are just looking at stoch crossings up or down. Take a look at the slopes and where they started from. If the fast stoch is already above 80 or below 20 when the MTF stoch is just starting to head that way, chances are it won't go far. Look at your charts, see where price is in relation to...
Thanks for helping. Can you specify why you say that for trade #4, the stochs are not even close to moving in the same direction? As far as I am concerned, both green and red m15 stochs are moving up and they are moving exactly in the same direction and the same is true for m5 stochs.
  • #1,119
  • Apr 16, 2018 7:24am Apr 16, 2018 7:24am
Quoting zxh1828
{quote} Thanks for helping. Can you specify why you say that for trade #4, the stochs are not even close to moving in the same direction? As far as I am concerned, both green and red m15 stochs are moving up and they are moving exactly in the same direction and the same is true for m5 stochs.
#s 4 and 6 are pullbacks If you take pullback entries, expect to not be in the trade for only a short time and exit with the faster stochastic. These trades are against the trend and ca change quickly. Eventually the faster stoch probably returns to the main trend (MTF stoch) most of the time. IMO, if I've entered on a pullback, then the faster stochastic is the exit signal, unless things change before the trade is over.
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  • #1,120
  • Apr 16, 2018 9:12am Apr 16, 2018 9:12am
Quoting bobby2
{quote} #s 4 and 6 are pullbacks If you take pullback entries, expect to not be in the trade for only a short time and exit with the faster stochastic. These trades are against the trend and ca change quickly. Eventually the faster stoch probably returns to the main trend (MTF stoch) most of the time. IMO, if I've entered on a pullback, then the faster stochastic is the exit signal, unless things change before the trade is over. {image}
I just read through your earlier posts again. I assume that by "bear run" you refer to m15 stoch <50, is that correct?
So, #1, 4, 6 are against the trend(m15 not on the right side of 50 line). #2 is with the trend but the m15 stoch is flat and #3, #5 are good entries.

Is my understanding correct?
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