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Genesis Matrix Trading

  • #5,241
  • Oct 4, 2012 6:47am Oct 4, 2012 6:47am
Quoting olivierforex
If I may, I'll use Frontline's chart to explain why my views on M15 OB/OS Stox are part of my 'discretionary arsenal' rather than 'hard rules' so that there's no confusion:
.I could say that the M15 Stox didn't quite go in OS territory first (white circle) and this is a reason why his Long EJ trade failed: that would be dishonest because in this situation it went close enough to OS that I would definitely consider a long trade then! In fact if anyone has got a technical reason why not go Long as Frontline did (apart from the previous high at 101.77),...


it finally hit the target !!!

I think the fault is SL too tight

I set at round number , 101.490 (1pip shy of 101.5) which is only 3 pips away from swing low

the scale of the chart makes me feel its wide enough


I will set my SL to swing low +7 pips from now on due to spread issue
  • #5,242
  • Oct 4, 2012 6:58am Oct 4, 2012 6:58am
Quoting idempotent
Just took AUDUSD short.
Testing support trendline as I type (caution for Shorts).

Potential Target Point Projections for contracting triangles:
1) calculate 'height' of triangle (41 pips)
2) add this number of pips at the point of breakout to either side:
Up: 1.0260 (also 80%ATR 1.0249 & R2 1.0255 - surprise?)
Down: 1.0270 (also 80%ATR at same level)

More conservative TPs would be 61.8% (Fib) of the height (ie 25 pips either side)
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  • #5,243
  • Oct 4, 2012 6:59am Oct 4, 2012 6:59am
Quoting idempotent
but many of us attempt to soak up everything that's shared.
We've all been there
  • #5,244
  • Oct 4, 2012 7:08am Oct 4, 2012 7:08am
Quoting frontline141
it finally hit the target !!!

I think the fault is SL too tight

I set at round number , 101.490 (1pip shy of 101.5) which is only 3 pips away from swing low

the scale of the chart makes me feel its wide enough


I will set my SL to swing low +7 pips from now on due to spread issue
Mine was within 0.5 of a pip from the stop loss, I always set it at 5 pips lower than the swing low (buy) and 5 pips plus spread higher than the high for a sell, the only reason I have taken a chance and stayed in the trade was the H1 chart.
  • #5,245
  • Oct 4, 2012 7:16am Oct 4, 2012 7:16am
Quoting realjumper
EU H1

A tough level to crack.....
To me these levels (1.29xx) will always be remembered as my first proper market ass-kicking as a newbie trader in early 2004 when the idea of a Stop Loss was for other people because quite clearly "I was born to be a successful trader" (anyone else in here got beginner's luck in their first few trades and you thought that you were Gordon Gecko reincarnated lol).
Still clear in my memory as if it was yesterday: opened a long at 2918, 'doubled-up' at 2888 (hoping the 1.29xx area would hold) and saw it plummet throughout the night (it was a Wednesday/Thursday) and by Friday my account had been closed/busted due to an unfundable 'margin call' as EU reached ... below 1.2500.
  • #5,246
  • Oct 4, 2012 7:28am Oct 4, 2012 7:28am
Quoting ohammond
Mine was within 0.5 of a pip from the stop loss, I always set it at 5 pips lower than the swing low (buy) and 5 pips plus spread higher than the high for a sell, the only reason I have taken a chance and stayed in the trade was the H1 chart.
such a painful experience to learn
  • #5,247
  • Oct 4, 2012 7:35am Oct 4, 2012 7:35am
Quoting olivierforex
To me these levels (1.29xx) will always be remembered as my first proper market ass-kicking as a newbie trader in early 2004 when the idea of a Stop Loss was for other people because quite clearly "I was born to be a successful trader" (anyone else in here got beginner's luck in their first few trades and you thought that you were Gordon Gecko reincarnated lol).
Still clear in my memory as if it was yesterday: opened a long at 2918, 'doubled-up' at 2888 (hoping the 1.29xx area would hold) and saw it plummet throughout the night (it...
We all have to go there it seems.....my tale of misery is here
Doing what you like is Freedom. Liking what you do is Happiness.
  • #5,248
  • Oct 4, 2012 7:36am Oct 4, 2012 7:36am
Quoting frontline141
such a painful experience to learn
And what just happened is why I like to watch the H1 chart
  • #5,249
  • Oct 4, 2012 8:10am Oct 4, 2012 8:10am
Quoting ohammond
Mine was within 0.5 of a pip from the stop loss, I always set it at 5 pips lower than the swing low (buy) and 5 pips plus spread higher than the high for a sell, the only reason I have taken a chance and stayed in the trade was the H1 chart.
Someone has just pm'd me saying they would have appreciated if I'd mentioned this before and that is was very "convenient" today lol, so for their benefit: http://www.forexfactory.com/showthre...64#post6007564
  • #5,250
  • Oct 4, 2012 8:10am Oct 4, 2012 8:10am
Quoting olivierforex
Testing support trendline as I type (caution for Shorts).
Thanks for the insight. More to consider.

But from a Genesis-ish point of view, how did the entry stack up?
  • #5,251
  • Oct 4, 2012 8:16am Oct 4, 2012 8:16am
Fortuitously, in my previous professional career, I ran a business assessing risk management procedures in financial prop trading companies.

So right from day 1, trade 1, I have never put on a trade without a stop.

NEVER !!
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #5,252
  • Oct 4, 2012 8:17am Oct 4, 2012 8:17am
Quoting Martyfish
Fortuitously, in my previous professional career, I ran a business assessing risk management procedures in financial prop trading companies.

So right from day 1, trade 1, I have never put on a trade without a stop.

NEVER !!
You never had the Loss?
  • #5,253
  • Oct 4, 2012 8:18am Oct 4, 2012 8:18am
and before anyone asks, NO, I was never worked for Barings, Soc Gen or UBS !!

Mainly private hedge funds
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #5,254
  • Oct 4, 2012 8:19am Oct 4, 2012 8:19am
Quoting Matrix8756
You never had the Loss?
Plenty of losses, everyone has losses
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #5,255
  • Oct 4, 2012 8:20am Oct 4, 2012 8:20am
Quoting Martyfish
Plenty of losses, everyone has losses
Sorry but I did not understand the translation.
What do you mean trade without a stop.
Made in Google Translator
  • #5,256
  • Oct 4, 2012 8:23am Oct 4, 2012 8:23am
I never entered a trade without a stop-loss ?????
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #5,257
  • Oct 4, 2012 8:24am Oct 4, 2012 8:24am
Quoting Martyfish
I never entered a trade without a stop-loss ?????
Ok Thanks
  • #5,258
  • Oct 4, 2012 8:25am Oct 4, 2012 8:25am
Quoting idempotent
But from a Genesis-ish point of view, how did the entry stack up?
Bar the M15 Stox non-OB bit you mentioned earlier it was ok; M15 matrix was also already neutral + you had M15 arrow too, bounce down from DP...
  • #5,259
  • Oct 4, 2012 8:27am Oct 4, 2012 8:27am
Closed EJ + 22 pips

Tape: H4,H1,M15,M5
Stoch: H4,H1,M15,M5

Closed GU + 34 pips

Tape: H4,H1,M15,M5
Stoch: H4,H1,M15,M5
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #5,260
  • Oct 4, 2012 8:29am Oct 4, 2012 8:29am
Quoting realjumper
We all have to go there it seems.....my tale of misery is here
That wasn't a good day either if like me you were long silver, short crude and long stocks. I remember so many alarms on so many instruments all sounding at the same time around 4/5am UK time lol
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