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Genesis Matrix Trading

  • #1,201
  • Jul 27, 2012 9:45am Jul 27, 2012 9:45am
Quoting ohammond
It says y's high, in other words yesterdays high, I don't know if you wanted that, but I am using the sdxpivots and blanking out everything but the high, low and open.
Thanks! I was guessing about the yrs, and that's exactly what I wanted.
  • #1,202
  • Jul 27, 2012 9:51am Jul 27, 2012 9:51am
Quoting ohammond
You don't mind if I collect some in your absence then do you
Olivia & other...

This is a TA pattern that happens in all TF and is fairly consistent: by consistent I mean that you should be wary of it and not trading it (at least not the breakout part).

We had a well defined triangle formation/consolidation (between the 2 yellow lines) on AudUsd.
Once a triangle has formed use the 'cycle lines' indicator from MT and place one end at the start of the formation (A 0%) and the other end at the apex of the triangle (B 100%) leaving just 3 equal lines inbetween showing 25/50 & 75% of the time elapsed.
If you get a break of either trendline around the 65% area, very often this will be a false breakout and it will reverse quite quickly.
The way to trade it is to wait for a later break of the other side (E) and very often you will get a nice pullback for a much better entry at the retest of the top line (C) or the bottom line (D).
The reason that I mention this pattern is that it was also accompanied by a Genesis Long signal at (E) at 14.15 UK time and the M5 stox was in a great position and the M15 wasn't far behind.
The TP for such a pattern is the height of the triangle (28 Pips) added to the 1.0431 breakout point at (E) giving roughly 1.0459 (we hit 1.0455 so far).
Attached Image (click to enlarge)
Click to Enlarge Name: 65% False Breakout.png Size: 33 KB
  • #1,203
  • Jul 27, 2012 9:58am Jul 27, 2012 9:58am
Quoting realjumper
How about you just focus on a single pair only.....NOT GU either. Just focus on EU and only trade EU. Learn how it behaves and what it's quirks are. You will always lose if you jump between currency pairs without ever getting to know them properly. Just focus on one pair only.
In trading like in other walks of life, it's much better to be really good at just one thing than be ok at many or you can end up as "a jack of all trades, but a master of none".
Listen to the man and get good with one pair first (eurusd) or maybe 2 tops (eurusd + eurjpy for signals going the same way or eurusd + usdchf for signals going in reverse direction).
  • #1,204
  • Jul 27, 2012 9:59am Jul 27, 2012 9:59am
Quoting Cody_R
Thanks! I was guessing about the yrs, and that's exactly what I wanted.
I've attached it in case you can't find it.
Attached File(s)
File Type: mq4 SDX-TzPivots.mq4   23 KB | 825 downloads
  • #1,205
  • Jul 27, 2012 9:59am Jul 27, 2012 9:59am
[quote=frontline141;5882697]still get stuck on the system

I understand there's alot of learn, and thanks everyone who gave me different advice....

I am no expert, but it seems you want too much from a 5m trade, if the price hesitates or make white candles just close the trade, don't wait for it to take you into a loss. When more experienced you can expect bigger wins, also as RJ said concentrate on EU for a while.

Keep trying
Vandag is die dag.....
  • #1,206
  • Jul 27, 2012 10:04am Jul 27, 2012 10:04am
Quoting olivierforex
Olivia & other...

This is a TA pattern that happens in all TF and is fairly consistent: by consistent I mean that you should be wary of it and not trading it (at least not the breakout part).

We had a well defined triangle formation/consolidation (between the 2 yellow lines) on AudUsd.
Once a triangle has formed use the 'cycle lines' indicator from MT and place one end at the start of the formation (A 0%) and the other end at the apex of the triangle (B 100%) leaving just 3 equal lines inbetween showing 25/50 & 75% of the time elapsed.
If you...
Thanks for that Oli, I put the trade in when it broke out of the triangle upwards and was only targetting 15-20 pips because of it being so late on Friday, so took 15. If it had stormed through R1 I might have hung on.
  • #1,207
  • Jul 27, 2012 10:06am Jul 27, 2012 10:06am
[quote=olivierforex;5882861]Olivia & other...

This is a TA pattern that happens in all TF and is fairly consistent: by consistent I mean that you should be wary of it and not trading it (at least not the breakout part).

Very informative, thanks OF, will be on the lookout for it in future.
Vandag is die dag.....
  • #1,208
  • Jul 27, 2012 10:16am Jul 27, 2012 10:16am
@frontline, what I don't understand with all the losses shown so far, why have you not traded for the rest of the day and made the pips up?
  • #1,209
  • Jul 27, 2012 10:29am Jul 27, 2012 10:29am
Quoting ohammond
@frontline, what I don't understand with all the losses shown so far, why have you not traded for the rest of the day and made the pips up?
It's because I won't open more than 1 trade per time. The margin won't let me do actually

And for some good trades like yesterday, I won't take them because I consider "round numbers", "daily open" as resistance too. So I won't take them when it's just above


P.s. thanks Leokira
  • #1,210
  • Jul 27, 2012 10:43am Jul 27, 2012 10:43am
Quoting frontline141
perphas I should only focus on EU and Gbp
That's not a bad idea but stick to EU rather than GU as it's more volatile and likely to kick you out of positions more often.
If you follow EurUsd, you should also follow UsdChf which is exactly the opposite (since the Swiss National Bank has said that they don't want EurChf to fall below 1.20 this (cross) pair hasn't moved much - have a look at an EurChf chart and you will fall asleep).
Because these 2 pairs (eurusd & usdchf) are mirror opposites (when one goes down the other goes up by almost exactly the same amount) an extra filter could be to only take a trade when both are giving a signal.
Last good signal on both was just over 2 hours ago (14.15 UK time) giving 30 & 40 pips to their respective R1/S1 target (you had: 4 blues/reds, Arrow, M5 and M15 Stox in good positions, bounce of Weekly S1/R1...everything in place to take the trades)
  • #1,211
  • Jul 27, 2012 11:55am Jul 27, 2012 11:55am
Quoting yelena
genesis + pivotal price + 1 hour before/after NY session = 30 pips again

green pips to you all and happy weekend!
Hey Yelena!!

Very interested in what you have observed here!

You aim for 10 pips right? Where do you put your SL?

And basically, it's a bounce off any [daily or weekly] pivot, [daily/weekly] S/R level, or daily open?

Many thanks,

Rob

Edit: And you don't worry about stoch position?
  • #1,212
  • Jul 27, 2012 12:56pm Jul 27, 2012 12:56pm
Quoting Gt3rs
Hey Yelena!!

Very interested in what you have observed here!

You aim for 10 pips right? Where do you put your SL?

And basically, it's a bounce off any [daily or weekly] pivot, [daily/weekly] S/R level, or daily open?

Many thanks,

Rob

Edit: And you don't worry about stoch position?
Hi Rob,
This is how I see it looking at her 3 charts but Yelena will need to confirm it when she returns..... (all UK times); I can read a chart with explanations better than I can read women lol

1) draw a horizontal line at the close of the 11.55/12.00 candle (that's her lower red line and it's drawn 1 hour before NY open)
2) look for a pullback toward the daily open (at 22.00 the previous day and that's the dotted white horizontal line above where she has the yellow writing)
3) look for a bounce off that level
4) take the next long signal that appears during the 1 hour before NY open (or close to the NY open, not sure)
5) set TP 10 pips above the lower red line (that's her top red horizontal line)

Oli

http://www.forexfactory.com/attachme...0&d=1343391617

Edit: obviously look for a short signal if the 11.55/12.00 candle closes below the daily open
  • #1,213
  • Jul 27, 2012 2:43pm Jul 27, 2012 2:43pm
Quoting frontline141
It's because I won't open more than 1 trade per time. The margin won't let me do actually

And for some good trades like yesterday, I won't take them because I consider "round numbers", "daily open" as resistance too. So I won't take them when it's just above


P.s. thanks Leokira
I didn't mean more than one trade at a time, I meant if you have a loss, take another trade afterwards and carry on trading. I look at all support and resistance as well, and found lots to trade yesterday.
  • #1,214
  • Jul 27, 2012 2:49pm Jul 27, 2012 2:49pm
A few more words (not mine) to ponder over the weekend and my annotations in italic.....

The Stochastic Oscillator "doesn't follow price, it doesn't follow volume or anything like that. It follows the speed or the momentum of price. (That's probably why it's so well suited to Genesis - you want to get in a trade while the momentum is strong).

As a rule, the momentum changes direction before price (that's why the Stox will generally turn early and why it's already on its way up/down by the time we get a Genesis signal).

It is important to note that overbought readings are not necessarily bearish and oversold readings are not necessarily bullish. Securities can become overbought/oversold and remain overbought/oversold during a strong uptrend/downtrend. Closing levels that are consistently near the top/bottom of the range indicate sustained buying/selling pressure (RJ touched on that last part a few times at Symphonie's).

Look for occasional oversold readings in an uptrend and ignore frequent overbought readings. Similarly, look for occasional overbought readings in a strong downtrend and ignore frequent oversold readings. (In a nutshell, in a strong uptrend, be careful if you want to sell when the Stox is OB but instead look to re-enter Long position(s) when the Stox is or gets near OS levels - similarly, in a strong downtrend, don't look to buy when the Stox is OS but instead look to re-enter Short position(s) when the Stox is or gets near OB levels).

Should a security trade near support with an oversold Stochastic Oscillator, look for a break above 20 to signal an upturn and successful support test. Conversely, should a security trade near resistance with an overbought Stochastic Oscillator, look for a break below 80 to signal a downturn and resistance failure. (This is the bread-and-butter setup used by most successfull Genesis traders in here - look for a test and retest of an important Pivot line and go with the next Matrix signal).

Bullish and bearish divergences in the Stochastic Oscillator can be used to foreshadow reversals (more on that next week depending on time available and interest by members in here).

Please feel free to add anything you like whether it be comments based on your experience or questions based on what you don't know.

Oli
  • #1,215
  • Jul 27, 2012 3:03pm Jul 27, 2012 3:03pm
Quoting yelena
genesis + pivotal price + 1 hour before/after NY session = 30 pips again

green pips to you all and happy weekend!
yelena, can i have our template file for your setup....thanks
Patience, let the market come to you!
  • #1,216
  • Jul 27, 2012 4:22pm Jul 27, 2012 4:22pm
what is the best pair and best time frame for this strategy
  • #1,217
  • Jul 27, 2012 4:50pm Jul 27, 2012 4:50pm
Quoting zelenko
what is the best pair and best time frame for this strategy
Hi Zelenko

This system works on all pair, if you read the thread you can see what other use it for, timeframe for most users is m5 and m15

Happy trading!
  • #1,218
  • Jul 27, 2012 5:23pm Jul 27, 2012 5:23pm
Are there any changes that need to be made to the settings for trading a 4HR chart or higher time frames?

Thanks
Without vision, the people will perish.
  • #1,219
  • Jul 27, 2012 5:45pm Jul 27, 2012 5:45pm
Quoting bythepound
Are there any changes that need to be made to the settings for trading a 4HR chart or higher time frames?
No, it should work pretty much the same on the higher time frames, too. Some folks here have talked about using in to H1 and H4, and I think D1.
  • #1,220
  • Jul 28, 2012 3:10am Jul 28, 2012 3:10am
@dashisiong,Gt3rs - allow me to finish my crash test. the end of this week was the 4th week.

@tia - thanks. but its simpler than that, quite literally.
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