If you took all the signals on the 5 min eur/usd today after euro open you would be up well over 5 pips. Don't over complicate it!
Doing what you like is Freedom. Liking what you do is Happiness.
- #6,021
- Oct 22, 2012 4:29am Oct 22, 2012 4:29am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Thanks Oli for clear answer. How easy trading could be if U were sitting next to me and showing all this things on chart to me.
After last week when i have impresion that i started to understand this system , now i feel i know nothing at all and i am not able to earn 5 pips a day with this system. It is sad but true. Maybe it is time to give up
When the market is quiet, flip open charts and go to babypips and investopedia. Open the chart patterns and candlestick pages and go back for the past week identifying each and every one of them until it becomes second nature.
This is not Genesis advice as I do not feel entitled to give that yet, but general trading advice.
- #6,024
- Oct 22, 2012 4:52am Oct 22, 2012 4:52am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Is anybody trading EUR/CHF or USD/CHF? I never traded this pair because of the low ATR and high spread, but Genesis is giving some good signals today and over the past few weeks.
Doing what you like is Freedom. Liking what you do is Happiness.
- #6,025
- Oct 22, 2012 4:59am Oct 22, 2012 4:59am
- Joined Sep 2012 | Status: classic Arts | 1,043 Posts
Thanks Oli for clear answer. How easy trading could be if U were sitting next to me and showing all this things on chart to me.
After last week when i have impresion that i started to understand this system , now i feel i know nothing at all and i am not able to earn 5 pips a day with this system. It is sad but true. Maybe it is time to give up
If you're scalping or scaling in winners with the LTF Matrix setup, only take trades with the H1 PA bias..
ie. IF H1 PA is up only take M5 long setups as per RJ's post 1 rules..
If you're a newbie & don't know what PA is.. then take a look at the H1 5ma slope before you pull the trigger.. if it is up long only, or short if is down..
trading is not an exact science.. but sometimes, there's beauty in simplicity.. fwiw
- #6,027
- Oct 22, 2012 5:19am Oct 22, 2012 5:19am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Doing what you like is Freedom. Liking what you do is Happiness.
- #6,028
- Oct 22, 2012 5:23am Oct 22, 2012 5:23am
I agree.....the system is simple and it works. There was 2 easy trades since Frankie open.....I don't know how much easier it can possibly be
You said that genesis is simple system, and all i try do is looking at chart in as simplest manner as it is possible. But i am not trying to trade every genesis signal of course (what would be simplest but kill my account).
I added to my trading:
1.OB, OS levels on M15 stoch
2. always looking at M15 chart for higher TF trend
3 looking for HH, HL on M5 chart to trade with trend
4. div on m5,15 stoch.
All points numered above i have been learned in this thread (thank you all) for taking HPT.
On screen below i pointed S signal after Fra open. RJ, are U talking about the same signal?
I didnt take it because it is only 7 pips to DP.
I wouldn't pay too much attention to those sorts of articles. For every analyst that produces a good argument for the bulls, I'll find you another with an equally convincing argument for the bears. All they really achieve is to confuse people and instill a bias in their minds.....like they have to you: 'Looking for long entries EU in the coming days on my Genesis dash'.
That is why this system is good, because it shows us the trades in the 'here and now' irrespective of what some analysts thinks or says. And, that is why we do not engage...
. Anyway, short on AU with full genesis dash, arrow and perfect stoch, now BE+1.
- #6,030
- Oct 22, 2012 5:29am Oct 22, 2012 5:29am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Doing what you like is Freedom. Liking what you do is Happiness.
- #6,031
- Oct 22, 2012 5:30am Oct 22, 2012 5:30am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Sorry RJ, old habits die hard
Anyway, short on AU with full genesis dash, arrow and perfect stoch, now BE+1.
Doing what you like is Freedom. Liking what you do is Happiness.
- #6,032
- Oct 22, 2012 5:35am Oct 22, 2012 5:35am
- | Joined May 2011 | Status: Just Call me Oli | 631 Posts
Is anybody trading EUR/CHF or USD/CHF? I never traded this pair because of the low ATR and high spread, but Genesis is giving some good signals today and over the past few weeks
UC is EU's inverse cousin (one goes up and the other one goes down by a similar amount and vice versa). I like trading it (same as EU) but it's worth keeping an eye on both (in my view) for a reaction or lack of reaction at pivot levels from either/both. This morning we had a very good example when EU retraced down to 1.3024: that was in no man's land (the DP was at 3037 & the WP at 3017) but on the same candle UC hit resistance exactly at its WP at 0.9287 and that 'stalled' EU's down move (this topic has been explored before by someone else but I can't remember who it was).
The same principle/technique can be applied to EY & CY's reaction to pivot levels too.
- #6,034
- Oct 22, 2012 5:53am Oct 22, 2012 5:53am
Thanks Oli for clear answer. How easy trading could be if U were sitting next to me and showing all this things on chart to me.
After last week when i have impresion that i started to understand this system , now i feel i know nothing at all and i am not able to earn 5 pips a day with this system. It is sad but true. Maybe it is time to give up
1* clean up the chart; take EVERYTHING out. Use RJ's template from post one; add MTF stochastics and arrows. It may be surprising how much indecision this step cuts out of the mind when time comes to 'pull the trigger'
Ps. For a while dont overlay your 5 minute stox on 15; keep them in two seperate windows so you can 'see' the past behaviour of both better.
2* Trade ONLY the highest quality signals for a start. You will be out of a lot of good trades but firstly, one will learn the discipline of not over-trading and secondly, it will do good for confidence in entries and pips.
What is a High Quality/Probability Entry Signal:
- During Genesis trading hours
- Away from pivot, S & R lines (This would cut down on the number of signals one would consider significantly so we might decide to consider instead signals that have price 'travelling away' from close lines)
- 4 'lights' align
- 5 min stox WENT INTO OB/OS THEN INTO OS/OB AND NOW RETURNS TO OB/OS at the time of signal candle but has not crossed over into OB/OS.
- 15 min stox WENT INTO OB/OS THEN INTO OS/OB AND NOW RETURNS TO OB/OS at the time of signal candle but has not crossed over into OB/OS.
- 5 and 15 min stox MUST be heading in the same direction.
Observe how the 15 minutes stox on a chart I posted earlier behaved. The 5 and 15 minute stox must have a pattern similar to the 15 min stox seen there.
What..
- No buying into down trend
- Stay away from news by +/- 20 minutes.
3* Stick to 4-5 pairs at the moment: EURUSD, EURAUD, EURJPY, AUDUSD are not bad.
These are only temporary measures; they will help build pips and confidence quick; then allow for becoming more and more discretionary in entry selection.
Ps. I would be willing to wager that you actually are catching on to the system; keep studying good trades (and bad ones, but study the good ones more), you'll learn to recognize them 'automatically' after some time. I suspect your mind has already gone some distance on that road..and that you'll be okay.
- #6,035
- Oct 22, 2012 5:59am Oct 22, 2012 5:59am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Doing what you like is Freedom. Liking what you do is Happiness.
Since 5th September EC is moving again (80 pips range for the previous 5 months tells its own story!) and is probably the safest to trade for newer traders if it gives good signals because of the low ATR that you mentioned (and bear in mind the 1.2000 'floor' that the SNB is defending at all cost).
UC is EU's inverse cousin (one goes up and the other one goes down by a similar amount and vice versa). I like trading it (same as EU) but it's worth keeping an eye on both (in my view) for a reaction or lack of reaction at pivot levels from either/both....
Never looked at it from this perspective before. Will monitor this pair closely over the coming weeks and check out how the correlation behaves.
Thanks!
Short on AU with full genesis dash, arrow and perfect stoch, now BE+1.
- #6,038
- Oct 22, 2012 6:13am Oct 22, 2012 6:13am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Doing what you like is Freedom. Liking what you do is Happiness.
- #6,039
- Oct 22, 2012 6:15am Oct 22, 2012 6:15am
- | Joined Feb 2012 | Status: Don't let the bastards grind u down | 217 Posts
[quote=olivierforex;6121375]
switch to H1 TF quickly and look at the slope of the yellow MA:
1. if it's going up, only take Long trades
2. if it's going down only take Short trades
3. if it's flat, we are most probably ranging
.....Or you could put a 60ma on the 5m chart.....whichever floats ya boat!
switch to H1 TF quickly and look at the slope of the yellow MA:
1. if it's going up, only take Long trades
2. if it's going down only take Short trades
3. if it's flat, we are most probably ranging
.....Or you could put a 60ma on the 5m chart.....whichever floats ya boat!
A MOUSE THAT ROARS IS STILL NOTHING MORE THAN A MOUSE!
.....Or you could put a 60ma on the 5m chart.....whichever floats ya boat!
But, it might yield near enough the same results for this purpose.
Pardon my pedantry