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Genesis Matrix Trading

  • #5,381
  • Oct 8, 2012 4:28am Oct 8, 2012 4:28am
Werther,

Best of luck, thats very agressive.

I trade very aggressively with trend, extremely cautious against H4,H1 trend.
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #5,382
  • Oct 8, 2012 4:29am Oct 8, 2012 4:29am
Quoting hullas
Can you guys please tell me about this question ?
I don't understand the question
Doing what you like is Freedom. Liking what you do is Happiness.
  • #5,383
  • Oct 8, 2012 4:33am Oct 8, 2012 4:33am
Quoting werther
Long AU.
Stochs up.
HH
HL

Also, if you had looked to the left when you took the AU trade you would have noticed that it was in the middle of chop (i.e., sideways price action). The trade worked out but you may want to "look to the left" before taking a trade to make sure that you're not entering in chop. Sometimes the Euro/London Open will break a market out of chop..but it's still much more of a gamble to enter in chop because you're basically saying that "I believe that this is the trade that will breakout of the range"...now is that a bet you wanna make?

if so, then take the trade.

If not, then pass on the trade and wait for a breakout or enter on the breakout.
  • #5,384
  • Oct 8, 2012 4:43am Oct 8, 2012 4:43am
"Stochastic if falling from a recent overbought state"
I see.Thanks.
Quoting realjumper
I wasn't saying that you should exit, I will never tell anyone that.....I was just wondering your logic because the way you worded that was sounding like the stochs being up was part of your plan for a buy position.
  • #5,385
  • Oct 8, 2012 4:47am Oct 8, 2012 4:47am
Quoting ForexNerds
Oliver, would you be so kind and list what else do you put in your trading journal and how does it look like? Could you perhaps post an example of a random trade and what notes you take from it. I would be really interested in hearing more... Do you note your trades in excel document or do you use some other tool/program?

Thank you very much.
Excel but paper works fine too. Type of work I did at the end of the day or weekend for new instruments/strategies. After a while once you have enough data you can stop doing it as the average/minumum/maximum for most figures will be kinda established but I found it a great way to get a feel for an instrument as the numbers are more precise than feelings/memories like 'it was a good trade' lol
Separate to the numbers, I keep notes about the indicators I'm using in a particular strategy so in Genesis' instance it would be MTF Stoxs positions, reaction to pivot levels....
Taking last EY trade as an example, but add/remove what suits you (things like that need to work for you/make sense to you or there's no point having them if you're not gonna use it)!
ET-Entry Time, EL-Entry Level, D/D-DrawDown, B-Best Seen, TPs-TargetPoints seen on the way, B/E-Put my SL at BreakEven after x pips in profit, T/S-Best TrailingStop for that trade....
Attached Image
  • #5,386
  • Oct 8, 2012 4:49am Oct 8, 2012 4:49am
Looking for Buy set-up..

EURAUD
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD capture-20121008-093706 M5.png Size: 65 KB
  • #5,387
  • Oct 8, 2012 4:54am Oct 8, 2012 4:54am
Quoting realjumper
I don't understand the question
The question was here http://www.forexfactory.com/showthre...82#post6075982
  • #5,388
  • Oct 8, 2012 4:56am Oct 8, 2012 4:56am
If I want to bet I should play Roulette not trading.Isn't it?
Quoting Roulette
Also, if you had looked to the left when you took the AU trade you would have noticed that it was in the middle of chop (i.e., sideways price action). The trade worked out but you may want to "look to the left" before taking a trade to make sure that you're not entering in chop. Sometimes the Euro/London Open will break a market out of chop..but it's still much more of a gamble to enter in chop because you're basically saying that "I believe that this is the trade that will breakout of the range"...now is that a bet you wanna make?

if...
  • #5,389
  • Oct 8, 2012 4:57am Oct 8, 2012 4:57am
Quoting hullas
The question was here http://www.forexfactory.com/showthre...82#post6075982
As I said, I don't understand the question
Doing what you like is Freedom. Liking what you do is Happiness.
  • #5,390
  • Oct 8, 2012 5:01am Oct 8, 2012 5:01am
Quoting realjumper
As I said, I don't understand the question
It was when we said we look for a higher low for a buy and a lower high for a sell I presume he was asking if we look for that on M5 or a higher timeframe and I've answered saying I look for it on the timeframe I'm trading.
  • #5,391
  • Oct 8, 2012 5:06am Oct 8, 2012 5:06am
Oliver, I highly appreciate this! Thank you. Please others, feel free to add if you monitor something else in your journal. I will start with one and would like to have as much relevant info in it as possible.

Quoting olivierforex
Excel but paper works fine too. Type of work I did at the end of the day or weekend for new instruments/strategies. After a while once you have enough data you can stop doing it as the average/minumum/maximum for most figures will be kinda established but I found it a great way to get a feel for an instrument as the numbers are more precise than feelings/memories like 'it was a good trade' lol
Separate to the numbers, I keep notes about the indicators I'm using in a particular strategy so in Genesis' instance it would be MTF Stoxs positions,...
  • #5,392
  • Oct 8, 2012 5:06am Oct 8, 2012 5:06am
Quoting ohammond
It was when we said we look for a higher low for a buy and a lower high for a sell I presume he was asking if we look for that on M5 or a higher timeframe and I've answered saying I look for it on the timeframe I'm trading.
Oh ok....well....if that was what he meant, then yes, I look for it on the timeframe I'm trading. Why would you look to a timeframe that you're not trading?
Doing what you like is Freedom. Liking what you do is Happiness.
  • #5,393
  • Oct 8, 2012 5:08am Oct 8, 2012 5:08am
Quoting cdndollar
Looking for Buy set-up..
EURAUD
A good example showing that even with the HTF M15 Stox on the floor the price can carry on going in the same direction for many more pips:
.OB/OS Stox on their own aren't a reason to exit a trade (although you should be careful when entering as it's unlikely to be a HPT).
.Continuous OB/OS should first be seen as a sign of strength(OB)/weakness(OS) rather than an immediate hint of trend reversal.
.Waiting for decent PA first (the usual HL or LH) + the powerful divergence is good practice for a TRT (TrendReversalTrade)
  • #5,394
  • Oct 8, 2012 5:08am Oct 8, 2012 5:08am
Quoting ohammond
It was when we said we look for a higher low for a buy and a lower high for a sell I presume he was asking if we look for that on M5 or a higher timeframe and I've answered saying I look for it on the timeframe I'm trading.
Thank you Olivia,

Yes I was enquiring about the TF you look at for the trade is it the same or do you guys look at HTF.

Thanks you for answering
  • #5,395
  • Oct 8, 2012 5:11am Oct 8, 2012 5:11am
Quoting realjumper
Oh ok....well....if that was what he meant, then yes, I look for it on the timeframe I'm trading. Why would you look to a timeframe that you're not trading?
How did I know you were going to say that
  • #5,396
  • Oct 8, 2012 5:13am Oct 8, 2012 5:13am
Quoting ohammond
How did I know you were going to say that
I knew you'd say that
Doing what you like is Freedom. Liking what you do is Happiness.
  • #5,397
  • Oct 8, 2012 5:15am Oct 8, 2012 5:15am
Could It be for TrendReversalTrade only divergence or should it be always Divergence plus HL or LH?

Quoting olivierforex
A good example showing that even with the HTF M15 Stox on the floor the price can carry on going in the same direction for many more pips:
.OB/OS Stox on their own aren't a reason to exit a trade (although you should be careful when entering as it's unlikely to be a HPT).
.Continuous OB/OS should first be seen as a sign of strength(OB)/weakness(OS) rather than an immediate hint of trend reversal.
.Waiting for decent PA first (the usual HL or LH) + the powerful divergence is good practice for a TRT (TrendReversalTrade)
  • #5,398
  • Oct 8, 2012 5:17am Oct 8, 2012 5:17am
Quoting olivierforex
A good example showing that even with the HTF M15 Stox on the floor the price can carry on going in the same direction for many more pips:
.OB/OS Stox on their own aren't a reason to exit a trade (although you should be careful when entering as it's unlikely to be a HPT).
.Continuous OB/OS should first be seen as a sign of strength(OB)/weakness(OS) rather than an immediate hint of trend reversal.
.Waiting for decent PA first (the usual HL or LH) + the powerful divergence is good practice for a TRT (TrendReversalTrade)
Absolutely correct.......and you can see that here very clearly:
Attached Image
Doing what you like is Freedom. Liking what you do is Happiness.
  • #5,399
  • Oct 8, 2012 5:25am Oct 8, 2012 5:25am
Quoting werther
Could It be for TrendReversalTrade only divergence or should it be always Divergence plus HL or LH?
Now you're entering into the more 'discretionary' part of trading...I suggest that you keep a journal of all the 'potential' TRT that you spot and at the end of the week see what has worked and what hasn't worked for all the instruments that you trade.
If you find that you only get good trades when you get both, then trade only when both are present for a particular instrument....
And by the way, a good trade isn't necessarely just a winning trade: a better trade shall I say, can be one that:
.has less D/D (nobody likes to sweat in a loss situation)
.gets to your TP quicker (the trade is over and done with & releases some of your attention earlier to look for the next trade)
...
  • #5,400
  • Oct 8, 2012 5:57am Oct 8, 2012 5:57am
Quoting olivierforex
Now you're entering into the more 'discretionary' part of trading...I suggest that you keep a journal of all the 'potential' TRT that you spot and at the end of the week see what has worked and what hasn't worked for all the instruments that you trade.
If you find that you only get good trades when you get both, then trade only when both are present for a particular instrument....
And by the way, a good trade isn't necessarely just a winning trade: a better trade shall I say, can be one that:
.has less D/D (nobody likes to sweat in a loss situation)
.gets...
Or allows you to move into BE fast, so that it quickly becomes a free trade
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