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Genesis Matrix Trading

  • #6,901
  • Edited 5:22am Nov 6, 2012 5:16am | Edited 5:22am
Quoting insainty
You are absolutely right. Some times this fear has helped me save the pips i have earned so i guess only experience will teach us how to manage this fear for maximizing the profits and minimizing the losses. The biggest fear i had on this trade was not losing the pips i earned on the earlier EU trade thats why i closed with +3 but again +3 is better than losing more
Another thing, while we're on the subject.....it is very rare to get a trade with zero drawdown....it does happen, but not too often. The fact that we set a SL that is acceptable to our account is one thing.....it is another to understand and expect that the PA does not move in a straight line. Your trade may go to -10, then +5, then 0, then +17, then +10, then +7, then +22 etc etc etc......that's how the market moves. If the setup is perfect, then the trade has a high probability of working , and the target should be the next pivot or other s/r line, round number or whatever. Of course we need to move to BE when suitable, and then relax man....relax.....there's no losing from here on in. The worst that will happen is you get knocked out with 0, as I did during Asia today.......all I lost was time.....shit happens!!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #6,902
  • Edited 5:37am Nov 6, 2012 5:24am | Edited 5:37am
Quoting a222a
hi,
wonderful job done here - full respect to all team.
I have question about 5 min arrows - when i try to look back in history they are drawed only 2 days in past - is it normal ?
Is it possible to have drawed 5 min arrows more than a week or more back?
Thanks in advance for answer
See http://www.forexfactory.com/showthre...72#post6102372

Edit: though, I see that the new arrow indicators, posted a little while back, seem to have solved this problem
  • #6,903
  • Nov 6, 2012 5:25am Nov 6, 2012 5:25am
Quoting insainty
Took EJ Long when it got rejected on S1 but closed with +3 because PA was struggling to find a direction and fear took over me. After i closed it went to my TP though. Hope i will lose this fear as time goes
Really difficult to tell where you entered from your chart. I hope you don't normally have it zoomed in so much.
I'm pretty sure that you mean the trade with the vertical line on this chart.
If so, then your trade initially went about 11 pips in loss, couldn't break below S1 though.
Price made a slight new high and then struggled to break that high.
You recognised that PA was stalling and decided to get out with a very small profit. Understandable when PA had turned almost as soon as you entered the trade.
As you were trading in real time and without the benefit of hindsight I believe that you made a sensible and rational decision.
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  • #6,904
  • Nov 6, 2012 5:27am Nov 6, 2012 5:27am
This was to be done?
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  • #6,905
  • Nov 6, 2012 5:27am Nov 6, 2012 5:27am
Quoting realjumper
Another thing, while we're on the subject.....it is very rare to get a trade with zero drawdown....it does happen, but not too often. The fact that we set a SL that is acceptable to our account is one thing.....it is another to understand and expect that the PA does not move in a straight line. Your trade may go to -10, then +5, then 0, then +17, then +10, then +7, then +22 etc etc etc......that's how the market moves. If the setup is perfect, then the trade has a high probability of working , and the target should be the next pivot or other s/r...
You are right. Thanks for the great advice. Will keep this in mind for the future trades.
  • #6,906
  • Nov 6, 2012 5:30am Nov 6, 2012 5:30am
Quoting Gumrai
Really difficult to tell where you entered from your chart. I hope you don't normally have it zoomed in so much.
I'm pretty sure that you mean the trade with the vertical line on this chart.
If so, then your trade initially went about 11 pips in loss, couldn't break below S1 though.
Price made a slight new high and then struggled to break that high.
You recognised that PA was stalling and decided to get out with a very small profit. Understandable when PA had turned almost as soon as you entered the trade.
As you were trading in real time...
You just read my mind It was the same thing that happened. when it went on 11 pips in loss and when pa struggled to break the high for 3 times i decided to close it.
  • #6,907
  • Nov 6, 2012 5:30am Nov 6, 2012 5:30am
Quoting braciola
This was to be done?
I would'nt take this because of the huge stop loss
  • #6,908
  • Nov 6, 2012 5:37am Nov 6, 2012 5:37am
  • #6,909
  • Nov 6, 2012 5:38am Nov 6, 2012 5:38am
Quoting Gumrai
Really difficult to tell where you entered from your chart. I hope you don't normally have it zoomed in so much.
I'm pretty sure that you mean the trade with the vertical line on this chart.
If so, then your trade initially went about 11 pips in loss, couldn't break below S1 though.
Price made a slight new high and then struggled to break that high.
You recognised that PA was stalling and decided to get out with a very small profit. Understandable when PA had turned almost as soon as you entered the trade.
As you were trading in real time and without...
If you just look at M5, I agree.

But I entered with H1 Arrows & H1 tape turned full green & H1 stoch was roaring up !!
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #6,910
  • Nov 6, 2012 5:44am Nov 6, 2012 5:44am
Quoting braciola
Sigh......I mentioned a couple of pages back that today might be tricky to trade due to the elections.....and I mentioned how last election there were big swings both ways.....yet you insist on trying to trade this narrow range of PA on a dangerous day. If you're not going to listen to anyone's advice or help, then stop asking for it.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #6,911
  • Nov 6, 2012 5:49am Nov 6, 2012 5:49am
Quoting braciola
This was to be done?
Look at your chart!
You have higher highs and higher lows!
You can't possibly think that this is a high probability trade.
Look at the M15 chart. You have an expanding triangle. In situations like this, switch off your computer and walk away.
The market has been really difficult so far this week. I have not seen one single trade that I want to take on my real money account.
Please Do Not PM Me With Coding Enquiries
  • #6,912
  • Nov 6, 2012 6:12am Nov 6, 2012 6:12am
but my Smilies are against me, do not take it personally, nothing to say about the work you Realize indeed
  • #6,913
  • Nov 6, 2012 6:27am Nov 6, 2012 6:27am
Quoting braciola
but my Smilies are against me, do not take it personally, nothing to say about the work you Realize indeed
Braciola, I feel that you are one of those people who have started with Forex either because you believe all the hype and think that it is a way to get rich quickly, or you have financial difficulties and think that this is the solution with a few indicators.
It doesn't work that way.
The most important thing is to be able to read the charts. The most important aspect being sentiment.
Think of it as a battle between the Bulls and the Bears. A battle that goes on forever with one side advancing, the other retreating. Sometimes their respective strengths are balanced, other time one has obvious control.
When the charts indicate that one is control, that is the time to jump in. If strengths are looking balanced and you can't decide who is in control - STAY OUT OF THE MARKET.
It worries me that you are trading with money that you cannot afford to lose and that you have not spent enough time studying charts to be able to have a clue what is going on.
Sorry to be harsh, but until you know what you are doing, trade with a very small account.
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  • #6,914
  • Edited 12:14pm Nov 6, 2012 6:52am | Edited 12:14pm
Quoting Gumrai
I have not seen one single trade that I want to take on my real money account.
I agree with you on this. I have not taken one single trade today. The EU and UC trades at the Frankie open were the only two of my markets that were high-probablility.

However, I didn't take EU because the trend was weakening on my HTF chart and I didn't take UC because there was not enough profit to my first target.


Knowing when to sit on your hands and determine when a market is offering you a high-probability setup is one of the most important traits that you can develop as a trader. Think of it this way: You are paid to sit at the computer all day and only place a trade when you see one that's high-probability (and by high-probability I mean "only" a 50% winner).

I've been batting around 50% winners with close to 3-to-1 RR (real money trades) because I only take the creme of the crop trades and I will cut my losses quicker than a pitbull on a ham sandwich (which also means I miss out on some ultimate winners). Run the mathematical expectancy on my numbers and you will see that it's very high. This leave me with only 4-8 trades per week, but I'm gradually increasing my position size as I take from the "house" (minus the vig of course). I only increase my position size out of profits and never out of my own capital (i.e., be conservative with "your money" and only get aggressive with your risk after you have a substantial profit cushion).
  • #6,915
  • Nov 6, 2012 7:17am Nov 6, 2012 7:17am
Quoting Roulette
I agree with you on this. I have not taken one single trade today. The EU and UC trades at the Frankie open were the only one of my markets that were high-probablility.

However, I didn't take EU because the trend was weakening on my HTF chart and I didn't take UC because there was not enough profit to my first target.


Knowing when to sit on your hands and determine when a market is offering you a high-probability setup is one of the most important traits that you can develop as a trader. Think of it this way: [b]You are paid to sit at the computer...
Good post

Sometimes trading is really boring when you are only taking the best trades. When you are passing on mediocre set-ups that turn out to be winners, the temptation is always there to lower your criteria.
This has happened to me in the past. I've decided to not enter a trade or 2 and seen it give good profits, lowered my standards and ended up losing.
If you are trading a real money account and getting frustrated with not getting enough trades, take the mediocre trades on a demo account and watch it drop. Eventually you will be satisfied with only taking the high probability trades.
Please Do Not PM Me With Coding Enquiries
  • #6,916
  • Nov 6, 2012 7:56am Nov 6, 2012 7:56am
Quoting braciola
real trade, the problem is not only 20,000 so far, better not say anything
Be clever you have to make your decision to stop the fast recovery hoping, its hard to do but you MUST draw a line. I have lost some thousands in the past, i know what i'm talking about Plz stop gambling and start recovering slow and steady. 99% of the traiders fail, there must be reasons. Please think about it
  • #6,917
  • Nov 6, 2012 8:03am Nov 6, 2012 8:03am
Quoting Totomanda
Be clever you have to make your decision to stop the fast recovery hoping, its hard to do but you MUST draw a line. I have lost some thousands in the past, i know what i'm talking about Plz stop gambling and start recovering slow and steady. 99% of the traiders fail, there must be reasons. Please think about it
I'd like to make that 95%. Gives us more hope! But having hope doesn't mean gambling so stop it Braciola. I hope that at least you borrowed the money from a real bank and not from the N'drangheta.
  • #6,918
  • Nov 6, 2012 8:43am Nov 6, 2012 8:43am
Hi all,
Does anyone have a Trailng Stop Loss (TSL) indicator (mq4, not an EA) with the following features (for studies):
.when you drop it on a chart you can select at which time/candle the TSL starts.
.you can select the size in pips of the TSL
.it must be fully independent - ie, not related or needing any actual order to be placed.
Thanks in advance
  • #6,919
  • Nov 6, 2012 9:39am Nov 6, 2012 9:39am
Quoting olivierforex
Hi all,
Does anyone have a Trailng Stop Loss (TSL) indicator (mq4, not an EA) with the following features (for studies):
.when you drop it on a chart you can select at which time/candle the TSL starts.
.you can select the size in pips of the TSL
.it must be fully independent - ie, not related or needing any actual order to be placed.
Thanks in advance

I use one but it is based on ATR not pips
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #6,920
  • Nov 6, 2012 10:15am Nov 6, 2012 10:15am
Quoting Martyfish
I use one but it is based on ATR not pips
If it can still do the other 2 things that I require I wouldn't mind getting it please (someone might be able to recode/replace the ATR bit with standard pips at a later date).
By the way, did you find a solution to get the Matrix Signals to work properly in the end?
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