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Genesis Matrix Trading

  • #321
  • Jul 18, 2012 5:14am Jul 18, 2012 5:14am
Quoting ohammond
Only that it had tried to break through twice, then had come back for another go, with everything else looking good I though it was worth a shot.
thanks, olivia
  • #322
  • Jul 18, 2012 5:16am Jul 18, 2012 5:16am
i trade only low spread pairs, risk 2% 5-7 pips SL, BE set to 5 pips BE+1,
let the profit run with TrailingStopMA set. period 5, LW, HLC/3, shift+2
now E/U 40+ , U/Chf 32+
  • #323
  • Jul 18, 2012 5:18am Jul 18, 2012 5:18am
Quoting sidefx
That's a great trade...looks like your entry was between the weekly R1 and DP?...would be interested to know your thoughts at the time you entered..

edit: ...ah, i see you've already answered Thanks.
If it had been the first time reaching the pivot I would have absolutely not touched it, but as the M5 had managed to close below it twice before recently, and with London now open it was likely to drop through it, but it doesn't always work like that
  • #324
  • Jul 18, 2012 5:30am Jul 18, 2012 5:30am
Quoting ohammond
If it had been the first time reaching the pivot I would have absolutely not touched it, but as the M5 had managed to close below it twice before recently, and with London now open it was likely to drop through it, but it doesn't always work like that
...i think this is a good example of where we less experienced guys need to be in order to be successful with Genesis (or any other decent entry method)...we need to focus on price action first and foremost before taking a signal.
  • #325
  • Jul 18, 2012 5:32am Jul 18, 2012 5:32am
Market has gone quiet again. Perhaps it will stay quiet until NY open. We have Bernanke yappin again later too....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #326
  • Jul 18, 2012 5:38am Jul 18, 2012 5:38am
Quoting sidefx
...i think this is a good example of where we less experienced guys need to be in order to be successful with Genesis (or any other decent entry method)...we need to focus on price action first and foremost before taking a signal.
Definitely, if you watch the flow especially around pivots its like its a living animal I tend to look at it like its banging against a wall, the more you knock against it the weaker it will get and then if you bring a whole lot more people in to help you, it will fall
  • #327
  • Jul 18, 2012 5:40am Jul 18, 2012 5:40am
Quoting sidefx
...i think this is a good example of where we less experienced guys need to be in order to be successful with Genesis (or any other decent entry method)...we need to focus on price action first and foremost before taking a signal.
Yes, it's not possible to download the tools and expect to be making great trades with no further work involved. It's like buying the best tools in the world to repair cars won't make a mechanic out of you......the tools are only one part of the equation.....you are the other part. Knowledge of market behaviour is important to good trading too.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #328
  • Jul 18, 2012 5:40am Jul 18, 2012 5:40am
Can someone comment on the current 5 min long signal on GBP - everything looks right, but would like your opinion - thanks
  • #329
  • Jul 18, 2012 5:45am Jul 18, 2012 5:45am
Quoting Patti
Can someone comment on the current 5 min long signal on GBP - everything looks right, but would like your opinion - thanks
Its quite a strong downtrend at the moment, so I'm not taking it, but it could work as its bounced off the monthly pivot.
  • #330
  • Jul 18, 2012 5:47am Jul 18, 2012 5:47am
Quoting Patti
Can someone comment on the current 5 min long signal on GBP - everything looks right, but would like your opinion - thanks
It looks ok, but I would be cautious because the trend has been down all day.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #331
  • Jul 18, 2012 5:47am Jul 18, 2012 5:47am
Quoting ohammond
Its quite a strong downtrend at the moment, so I'm not taking it, but it could work as its bounced off the monthly pivot.
Yes, thanks, I am also a little concerned about the strength of the downtrend.
  • #332
  • Jul 18, 2012 5:48am Jul 18, 2012 5:48am
Quoting Patti
Can someone comment on the current 5 min long signal on GBP - everything looks right, but would like your opinion - thanks
..i'm in with a small stake long, i liked the 123 pattern break + genesis signal + bounce off the monthly pivot...will see how price reacts to the DP should it get that far
  • #333
  • Jul 18, 2012 5:58am Jul 18, 2012 5:58am
Brought stop loss up - wait and see what happens now
  • #334
  • Jul 18, 2012 6:10am Jul 18, 2012 6:10am
See what happened when GU first tested the pivot? It bounced off....retested, and broke through. Looks like the same is happening with the S1 level. This test, bounce, retest, breakthrough happens all the time. That's why I would be cautious about trading this against the trend.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.jpg Size: 237 KB
Doing what you like is Freedom. Liking what you do is Happiness.
  • #335
  • Jul 18, 2012 6:15am Jul 18, 2012 6:15am
Quoting realjumper
See what happened when GU first tested the pivot? It bounced off....retested, and broke through. Looks like the same is happening with the S1 level. This test, bounce, retest, breakthrough happens all the time. That's why I would be cautious about trading this against the trend.
Afternoon....

Would you say purely trading retests and subsequent breakthroughs would generate enough pips to be a system in itself? I'm thinking of doing just this to get good at one style and only once I've mastered it then add additional entries..?
  • #336
  • Jul 18, 2012 6:17am Jul 18, 2012 6:17am
Quoting realjumper
See what happened when GU first tested the pivot? It bounced off....retested, and broke through. Looks like the same is happening with the S1 level. This test, bounce, retest, breakthrough happens all the time. That's why I would be cautious about trading this against the trend.
With that in mind, are you now going short on this signal?
  • #337
  • Jul 18, 2012 6:18am Jul 18, 2012 6:18am
This is so cool to se it stop up exact by the pips on S1

I dont say it will go down more but just the fact that this lines are so importent to look at.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd by the pip.jpg Size: 134 KB
  • #338
  • Jul 18, 2012 6:24am Jul 18, 2012 6:24am
Quoting Mr Pippy
Afternoon....

Would you say purely trading retests and subsequent breakthroughs would generate enough pips to be a system in itself? I'm thinking of doing just this to get good at one style and only once I've mastered it then add additional entries..?
Possibly, but the trap is the we are never going to to know whether, for example, this is going to retest S1 or perhaps it is a genuine reversal.....

If it is a reversal, it will happen without me entering because I'm not to keen to go against the trend at this stage. If it it a retest and breakthough, I'll pick it up on the other side of S1
Doing what you like is Freedom. Liking what you do is Happiness.
  • #339
  • Jul 18, 2012 6:25am Jul 18, 2012 6:25am
Quoting Patti
With that in mind, are you now going short on this signal?
I won't be going short as there is just too much underneath at the moment, plus near its first ATR line, so I would rather look for something better on another currency.
  • #340
  • Jul 18, 2012 6:25am Jul 18, 2012 6:25am
Quoting Patti
With that in mind, are you now going short on this signal?
No....I'm sitting this out until it breaks through S1. If I'm wrong and you're right.....you'll make lots of pips and I wont!!
Doing what you like is Freedom. Liking what you do is Happiness.
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