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Genesis Matrix Trading

  • #1,061
  • Jul 25, 2012 9:54am Jul 25, 2012 9:54am
Quoting Mr Pippy
Its been one of those days for me....up since 7am GMT and somehow I've managed to be in a negative position today....taking my breaks at the wrong time it seeems!

Please have a look at these trades to see where I went wrong...

Entry is after the orange vertical line...

http://img407.imageshack.us/img407/6...ailedtrade.jpg

http://img844.imageshack.us/img844/6...ailedtrade.jpg
It happens to all of us I was down today as well, very unusual for me but I think if you look at the charts honestly like I have, I didn't follow my own rules....go with the trend first and foremost. You bought in a downtrend and sold in an uptrend, if you (and me lol) had stuck with the trend we would have been ok. I must need a break I think that is always the main thing I look at and today I didn't Higher lows = uptrend Lower Highs = downtrend. If you look at the EU chart, when it was safe to take the sell was after price made a lower high.
  • #1,062
  • Jul 25, 2012 10:05am Jul 25, 2012 10:05am
Another thing, I can't see any pivots on your charts, the EU sell was taken directly above Daily R1 which it bounced off.
  • #1,063
  • Jul 25, 2012 10:06am Jul 25, 2012 10:06am
Quoting ohammond
It happens to all of us I was down today as well, very unusual for me but I think if you look at the charts honestly like I have, I didn't follow my own rules....go with the trend first and foremost. You bought in a downtrend and sold in an uptrend, if you (and me lol) had stuck with the trend we would have been ok. I must need a break I think that is always the main thing I look at and today I didn't Higher lows = uptrend Lower Highs = downtrend
I think I'll put a 1 hour stoch on my chart and buy and sell depending on whether the fast is above/below. Would have kept me out of both trades

Edit
-----

EU pivot line is white...it is there ...shame I ignored it thinking I knew better!
  • #1,064
  • Jul 25, 2012 10:09am Jul 25, 2012 10:09am
Quoting Mr Pippy
I think I'll put a 1 hour stoch on my chart and buy and sell depending on whether the fast is above/below. Would have kept me out of both trades
1hr stoch will also keep you out of some good trades as well, you would be better off believe me, just following the trend of the M5 with the M15 stoch. Put pivots on the charts as well, the pivot and trend would have kept you out of the EU sell and following the trend would have kept you out of GU.

Edit: Just saw your post about pivots.....did the same with GU lol so shame on me too
  • #1,065
  • Jul 25, 2012 10:18am Jul 25, 2012 10:18am
Quoting ohammond
1hr stoch will also keep you out of some good trades as well, you would be better off believe me, just following the trend of the M5 with the M15 stoch. Put pivots on the charts as well, the pivot and trend would have kept you out of the EU sell and following the trend would have kept you out of GU.

Edit: Just saw your post about pivots.....did the same with GU lol so shame on me too
Need to do more work on my trend following...i was using my rend lines as well and a good break of them clearly doesn't ensure success.

Back to square 1 for me!
  • #1,066
  • Jul 25, 2012 10:30am Jul 25, 2012 10:30am
Quoting Mr Pippy
Need to do more work on my trend following...i was using my rend lines as well and a good break of them clearly doesn't ensure success.

Back to square 1 for me!
Not sure I can see where the GU trade broke a trendline.
  • #1,067
  • Jul 25, 2012 10:46am Jul 25, 2012 10:46am
Quoting ohammond
Not sure I can see where the GU trade broke a trendline.
Not for GU no, there wasn't one generated for that...on EU there was tho....I have taken on board your very valid points tho and am working hard to rectify my errors. Think I've found the solution to where I'm going wrong
  • #1,068
  • Jul 25, 2012 10:48am Jul 25, 2012 10:48am
Quoting Mr Pippy
Its been one of those days for me....up since 7am GMT and somehow I've managed to be in a negative position today....taking my breaks at the wrong time it seeems!

Please have a look at these trades to see where I went wrong...

Entry is after the orange vertical line...
GU: you already had the start of a downtrend with lower lows at B & D and lower highs at A & C + you correctly drew the down trendline. The daily pivot was 21 pips away and stox were fine but you were going against a new formed/forming downtrend. In that case, waiting for a break and M5 close above the trendline would have been a minimum.

EU: same pattern...I couldn't draw A & B on your chart but it's the opposite of the GU trade (higher highs at B & D and higher lows at A & C makes an uptrend) + if you draw a trendline from the low at 09.50 to the other low at 11.00, again you'll see that no candle broke and closed below the trendline.

A quick filter that i've mentionned on Symphonie: a 13-period RSI with a line drawn at the 50 horizontal level. Look for your signal candle to close above 50 for a long (strength) or below 50 for a short (weakness). It's not a cast-iron filter but if you are going against the trend then you want to make sure that the countertrend move has some strength rather than just being a quick pullback-and-resume-the-direction-of-trend.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gufailedtrade.jpg Size: 146 KB
Click to Enlarge Name: eufailedtrade.jpg Size: 117 KB
  • #1,069
  • Jul 25, 2012 10:52am Jul 25, 2012 10:52am
Quoting olivierforex
GU: you already had the start of a downtrend with lower lows at B & D and lower highs at A & C + you correctly drew the down trendline. The daily pivot was 21 pips away and stox were fine but you were going against a new formed/forming downtrend. In that case, waiting for a break and M5 close above the trendline would have been a minimum.

EU: same pattern...I couldn't draw A & B on your chart but it's the opposite of the GU trade (higher highs at B & D and higher lows at A & C makes an uptrend) + if you draw a trendline from the low at...
Many thanks.....the 50 SMA is suggested as another good one....looking at this on the buy sell line trading thread to improve my skills in the trend area....will also study your suggestion...again many thanks to all and I will not be posting anything until I'm in consistent profit....

Still love the system, just need to hone some other skills to best utilize it!
  • #1,070
  • Jul 25, 2012 10:59am Jul 25, 2012 10:59am
Quoting Mr Pippy
I will not be posting anything until I'm in consistent profit....
You don't need to do that, just carry on as you do, you're obviously a willing learner: i can't promise that we'll have immediately the time to answer your points but if there is a chart attached to your queries then it's an extra incentive to do so for us charts nuts lol
  • #1,071
  • Jul 25, 2012 10:59am Jul 25, 2012 10:59am
Quoting Mr Pippy
Many thanks.....the 50 SMA is suggested as another good one....looking at this on the buy sell line trading thread to improve my skills in the trend area....will also study your suggestion...again many thanks to all and I will not be posting anything until I'm in consistent profit....

Still love the system, just need to hone some other skills to best utilize it!
All the best with that, Mr Pippy. Focusing on price action first is definitely the edge with the Genesis entry and most other methods for that matter. Good luck.
  • #1,072
  • Jul 25, 2012 2:08pm Jul 25, 2012 2:08pm
Quoting Mr Pippy
I think I'll put a 1 hour stoch on my chart and buy and sell depending on whether the fast is above/below. Would have kept me out of both trades

Edit
-----

EU pivot line is white...it is there ...shame I ignored it thinking I knew better!
I suggest a 40Ema and a 60Ema dev.2 on close, see the attachments . But don't worry. Happens
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu usd.jpg Size: 171 KB
Click to Enlarge Name: gbp usd.jpg Size: 188 KB
  • #1,073
  • Jul 25, 2012 2:33pm Jul 25, 2012 2:33pm
Quoting vamtop
I suggest a 40Ema and a 60Ema dev.2 on close, see the attachments . But don't worry. Happens
Why not the THV4 Coral?
Attached File(s)
File Type: mq4 THV4 Coral.mq4   4 KB | 833 downloads
  • #1,074
  • Jul 25, 2012 4:16pm Jul 25, 2012 4:16pm
Appreciate the support guys......feeling a lot more confident now with what I need to do. I don't want to add anything more than I need to so for now it'll be the 50 sma as the added extra. Too much clutter will only cloud my judgement at this stage and adding one more MA won't affect things. Certainly would have kept me out of my losing trades today. As soon as I put it on and looked for trend stages of lower lows higher highs etc, it transformed the way the chart appeared to me. Amazing.
  • #1,075
  • Jul 25, 2012 4:40pm Jul 25, 2012 4:40pm
Quoting genaja
Why not the THV4 Coral?
Great idea.

know this system for 2 days now. Friend of me PM ed it to me.
Will install it at the Weekend, and first thing i wanted to do is
expand it with the Thv Coral..
How to opt out annoying user signatures ??
  • #1,076
  • Jul 25, 2012 5:37pm Jul 25, 2012 5:37pm
I am tryingt o get my 5 and 15 min. stocs together using the #MTF Stochastic v2 indie, but do not understand how to set this up. Any help or screen shots whould be helpful. Thanks.

I am combining this method with the UltraSignal, which is very similiar to a 50 SMA, and it is strong combination. Thanks to RJ and others!
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #1,077
  • Jul 25, 2012 5:52pm Jul 25, 2012 5:52pm
Quoting capstone
I am tryingt o get my 5 and 15 min. stocs together using the #MTF Stochastic v2 indie, but do not understand how to set this up. Any help or screen shots whould be helpful. Thanks.

I am combining this method with the UltraSignal, which is very similiar to a 50 SMA, and it is strong combination. Thanks to RJ and others!
Capstone,
There are 2 steps. First, drop the usual stochastic indicator from MT4 onto your chart with the following parameters:
http://i46.tinypic.com/2nb94c7.jpg

Second, using the Navigator, drag the MTF Stoch on top of the normal Stoch window you just added, and set the parameters like this:
http://i45.tinypic.com/10ymaue.jpg


That should give you the overlapping M5 and M15 stochs in one window.
If you want to hide the slow lines, just change their color's on the Colors tab to None from the drop choices.
  • #1,078
  • Jul 25, 2012 6:06pm Jul 25, 2012 6:06pm
Yesterday, and in fact much of this week, has not been easy trading. I see the same type of panic/disappointment/frustration creeping in here with some people, and they are falling into the same old trap.......'let's add more indicators!'.

Listen, the answer isn't in adding more indicators......the answer is in recognising that the market does not trend nicely every day. It has periods of consolidation/ranging. It also has levels of support and resistance, some of them, very, very strong levels.

See on the Weekly chart below.....the EU pair is at an extremely important and strong level.....a level that hasn't been properly broken since about 2005. Of course the PA is going to have trouble here...it has happened before, this level is strong.....not unbreakable, but strong.

We have had a great run down from the 1.30's to where we are now, but even then, there has been a couple of decent consolidation/ranging areas that we have had to work through.

The answer is not in adding more and more indicators looking for the magic pill that will make you money no matter what the market does. The answer is in recognising how the market behaves, and when it is good to enter trades and when it is not.

It simply is not possible to make hundreds of pips every day.....sometimes you need to accept the fact that today may be a day where the market is going to be difficult/dangerous and it's best to stay out.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 336 KB
Doing what you like is Freedom. Liking what you do is Happiness.
  • #1,079
  • Edited 6:32pm Jul 25, 2012 6:20pm | Edited 6:32pm
Had great success today trading the matrix (26 net pips ) may seem like a bad day to some, but to me its friggin awesome!!

anyway, I wanted to try this system on an interday timeframe rather than intraday. So I want to put in one good trade and leave it for 7 or 10 days, according to the trend of course. So I'll be looking at the Daily chart with 3Day stochs...i think....mostly because the Daily trends sooooo nicely!

But as for the resistance/support lines, anyone know of an indicator that would draw them automatically kinda like the FXI Pivots do nicely on the M5 TF or would I have to manually draw them?

Also... does anyone know if the broker's MT4 time matters to someone trading the daily with this system? like for example my Mt4's clock is 2hrs ahead of my time (London time). Would this effect the Daily candle's range? Like people on EST time would have their daily candles close on a different price than mine. because the daily candle opens at 00hrs and closes at 24hrs, which is at different prices from broker to broker, whereas the price is always realtime and identical on all brokers. So would candles look different? i dunno..anyone know?
  • #1,080
  • Jul 25, 2012 6:29pm Jul 25, 2012 6:29pm
Quoting slim410
Had great success today trading the matrix (26 net pips ) may seem like a bad day to some, but to me its friggin awesome!!

anyway, I wanted to try this system on an interday timeframe rather than intraday. So I want to put in one good trade and leave it for 7 or 10 days, according to the trend of course. So I'll be looking at the Daily chart with 3Day stochs...i think....mostly because the Daily trends sooooo nicely!

But as for the resistance/support lines, anyone know of an indicator that would draw them automatically kinda like the FXI Pivots...
Congratulations on making some pips yesterday

As far as S/r lines are concerned, I'm sure there will be an indicator out there that will do the job for you.....but.....why not do it yourself, manually??

Doing it yourself will teach you much about market behaviour and as I said in my previous post, learning how the market behaves is a key to knowing were and when to enter/exit trades, and when to stay out. Using an indicator will teach you nothing
Doing what you like is Freedom. Liking what you do is Happiness.
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