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Genesis Matrix Trading

  • #7,141
  • Nov 9, 2012 2:13am Nov 9, 2012 2:13am
Between Gumrai and RJ's answers ... what I was trying to get to was whether to take a perfectish looking signal 65min before FF open, or wait for the FF open and take a bad M15 stoch but you have PA moving in the right direction (down), bounce of DR1, M15 arrows (following a M5 arrow) following a divergence more or less confirmed.

So that was the gist of my question ... how RJ would do it. Take the pre-FF, or post-FF. Each has its flaws (pre-FF with perfect Genesis), or poor genesis but with PA more confirmed and post FF-open.
  • #7,142
  • Nov 9, 2012 2:17am Nov 9, 2012 2:17am
Quoting realjumper
Absolutely yes. The SL above the swing high (and above R1) was worth about -20 and the divergence on the M15 was already apparent, and the M15 arrow was trying to spawn as well. The drop back down to the daily low goal was about +35, which is about 1.5:1 r/r.....well worth waiting for. As it turned out, it was better than 2:1.
Personally I wouldn't have entered before FF open, because PA had been ranging (blue box). There was a breakout up which prove to be a fakie and the short signal was given when price re-entered the congestion zone.
There was then a breakout to the downside accompanied by a short signal. Then a re-test at the bottom of the zone, with a test of the MA at the same time.
When it broke the low of the doji spinning top would have been the perfect entry for me, but only 11 pips from DP.
I decided to pass.
With the benefit of hindsight, I could have put a SL at the bottom of the zone and the DP would have given R:R 1:1.
Never mind, I wasn't expecting to be too active today, and I'm sure that I will see some good opportunities next week.
Maybe I am being too cautious, I have absolutely zero experience with trading M5 charts. Well not successfully anyway
Attached Image (click to enlarge)
Click to Enlarge Name: eu 9 nov.gif Size: 20 KB
Please Do Not PM Me With Coding Enquiries
  • #7,143
  • Nov 9, 2012 2:19am Nov 9, 2012 2:19am
Quoting RainyDay1
Between Gumrai and RJ's answers ... what I was trying to get to was whether to take a perfectish looking signal 65min before FF open, or wait for the FF open and take a bad M15 stoch but you have PA moving in the right direction (down), bounce of DR1, M15 arrows (following a M5 arrow) following a divergence more or less confirmed.

So that was the gist of my question ... how RJ would do it. Take the pre-FF, or post-FF. Each has its flaws (pre-FF with perfect Genesis), or poor genesis but with PA more confirmed and post FF-open.
Ok I see what you're saying. The single pre-frankie was a good signal. Knowing that the divergence existed and that R1 was unlikely to be broken.....take the trade. The r:r was worth it imo
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,144
  • Nov 9, 2012 2:20am Nov 9, 2012 2:20am
  •  Jamz
  • | Joined May 2012 | Status: Tops and bottoms are for bikinis | 798 Posts
I don't mind confessing to having a tough week of it. This should encourage others who are doing likewise to keep at it though. I can still make stupid mistakes which make me wonder if I have been listening to the teacher!!!!! However, although the bank told me I could increase the rate on my credit card because of my great credit rating - I was tempted to try funding my account in this way - I decided to keep practicing with what I've got until I can build it up myself. I have been 3 or 4 years into forex and studied charts etc for longer but being human, I can still bungle along. I just want to say this to the thread because I am sure I am going to behave soon and only have good announcements to prove I have "turned the corner". There are certainly a lot more profitable trades and trades to B.E. with Genesis Matrix system for me. I just have to weed out the not so probable trades. Moving euraud to B.E. soon.....
  • #7,145
  • Nov 9, 2012 2:24am Nov 9, 2012 2:24am
Quoting Gumrai
Personally I wouldn't have entered before FF open, because PA had been ranging (blue box). There was a breakout up which prove to be a fakie and the short signal was given when price re-entered the congestion zone.
There was then a breakout to the downside accompanied by a short signal. Then a re-test at the bottom of the zone, with a test of the MA at the same time.
When it broke the low of the doji spinning top would have been the perfect entry for me, but only 11 pips from DP.
I decided to pass.
With the benefit of hindsight, I could have put...

That's where we differ. I see 2 failed attempts at breaking R1, stoch in a good postion, arrow, matrix, bear candle clear of the ema, divergence, good r:r......I'm in.

Because I don't use Japanese candles, I don't care about spinning tops and suchlike.....all I care about is the price action and indicators!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,146
  • Nov 9, 2012 2:25am Nov 9, 2012 2:25am
today my first gain in genesis, but I settled with
  • #7,147
  • Nov 9, 2012 2:30am Nov 9, 2012 2:30am
Quoting RainyDay1
Between Gumrai and RJ's answers ... what I was trying to get to was whether to take a perfectish looking signal 65min before FF open, or wait for the FF open and take a bad M15 stoch but you have PA moving in the right direction (down), bounce of DR1, M15 arrows (following a M5 arrow) following a divergence more or less confirmed.

So that was the gist of my question ... how RJ would do it. Take the pre-FF, or post-FF. Each has its flaws (pre-FF with perfect Genesis), or poor genesis but with PA more confirmed and post FF-open.
Beacause of my local time, I often trade the Asian session. Maybe a year ago almost exclusively EJ. Recently we are seeing more good moves on EU originating during the Asian session. If I see a good signal on EU early doors, I will take it.
Open an horly chart and scroll back. See how many good moves started while Europe was sleeping.
Please Do Not PM Me With Coding Enquiries
  • #7,148
  • Nov 9, 2012 2:32am Nov 9, 2012 2:32am
Quoting Gumrai
Beacause of my local time, I often trade the Asian session. Maybe a year ago almost exclusively EJ. Recently we are seeing more good moves on EU originating during the Asian session. If I see a good signal on EU early doors, I will take it.
Open an horly chart and scroll back. See how many good moves started while Europe was sleeping.
That's quite right.....many moves that last until (almost USA close) begin in Asian session.

The difficult part is getting into those moves mid session, which is why I say not to enter before Frankie. For those on our side of the planet Gumrai.....the rules are a little different
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,149
  • Nov 9, 2012 2:35am Nov 9, 2012 2:35am
Quoting bryce
I admire your patience

7 trades for a week, I can nearly do that in a day, mind you I do watch the Asian session as well.

Without wanting to put the mock on myself, close on 80% strike rate, +6.2% on account and my main 2 trades very green pips.

I only took 2 trades this week (how's that for patience)...both of them big winners....and because this is Friday I won't be trading today and risk giving back gains. If I had a better week I would have considered trading today. But today looks like slop too.

For most of this week, the markets were simply not conducive to the type of price action I like to see. Tuesday was the US Election and I simply stayed out and the rest of the week was just slop chop price action to me.
  • #7,150
  • Nov 9, 2012 2:38am Nov 9, 2012 2:38am
Thanks guys! Good quality discussion, and very helpful for me.

This is why I keep coming back to this thread ... a great system plus the great people involved.
  • #7,151
  • Nov 9, 2012 2:39am Nov 9, 2012 2:39am
A few extra things that favoured the Shorts for me at that point (yellow line) on M5 charts:
.the M15 arrow had already turned short (yellow circle)
.the M15 matrix (not always mentioned but always a good idea to keep an eye on), although not fully red, had already moved from neutral (2-2) to a bearish 3-1 (red/white)
.Price AND HA candle Closed below support
+ all the other stuff mentioned in previous posts
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  • #7,152
  • Nov 9, 2012 2:44am Nov 9, 2012 2:44am
Quoting realjumper
The M15 arrow was trying to paint itself on the chart. Of course it can't be relied upon until the M15 candle closes and it paints the arrow (or not) permanently. So the arrow was trying to paint.....which gives a possible indication that the trade might be about to form. The arrow is spawned (born) from the action of the price
Thanks for that explanation...
  • #7,153
  • Nov 9, 2012 2:45am Nov 9, 2012 2:45am
Monday is a bank holyday in US!
  • #7,154
  • Nov 9, 2012 2:46am Nov 9, 2012 2:46am
Quoting olivierforex
A few extra things that favoured the Shorts for me at that point (yellow line) on M5 charts:
.the M15 arrow had already turned short (yellow circle)
.the M15 matrix (not always mentioned but always a good idea to keep an eye on), although not fully red, had already moved from neutral (2-2) to a bearish 3-1 (red/white)
.Price AND HA candle Closed below support
+ all the other stuff mentioned in previous posts
It's a toss-up. I think the M15 arrow after M5 arrow and genesis + that prices hadn't moved too much from the pre-FF genesis signal are good for me. But it means the SL would be very large if waited for the full M5 candle after FF-open to complete. Which is why I missed the trade.

Let's see what next week brings!
  • #7,155
  • Nov 9, 2012 2:54am Nov 9, 2012 2:54am
  •  Jamz
  • | Joined May 2012 | Status: Tops and bottoms are for bikinis | 798 Posts
Quote
ttaro27 Monday is a bank holyday in US!

My calendar says Tuesday for the USA and Canada so maybe the start of the week will be different.
  • #7,156
  • Nov 9, 2012 2:54am Nov 9, 2012 2:54am
I'm done for the week.

Had a profitable week and learned from my mistakes.

Hope everyone has a great weekend!
  • #7,157
  • Nov 9, 2012 2:55am Nov 9, 2012 2:55am
Quoting olivierforex
A few extra things that favoured the Shorts for me at that point (yellow line) on M5 charts:
.the M15 arrow had already turned short (yellow circle)
.the M15 matrix (not always mentioned but always a good idea to keep an eye on), although not fully red, had already moved from neutral (2-2) to a bearish 3-1 (red/white)
.Price AND HA candle Closed below support +...
Edit: when I see a long period of Flat consolidation, with the M5 flip-flopping constantly (arrow + matrix), I have to look at M15 for extra clues and often enough (but not always) the M15 can be a leading indicator (no matter how strange that sounds). In truth, when the M15 arrow arrived, ignoring everything else and concentrating on PA only, there was nothing to suggest if this consolidation was the base for a continued move up or a reversal down but slowly in the background, the unseen M15 cogs were slowly turning down.
  • #7,158
  • Nov 9, 2012 2:59am Nov 9, 2012 2:59am
Quoting sho
I'm done for the week.

Had a profitable week and learned from my mistakes.

Hope everyone has a great weekend!
You too....take care
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,159
  • Nov 9, 2012 3:01am Nov 9, 2012 3:01am
Quoting Jamz
My calendar says Tuesday for the USA and Canada so maybe the start of the week will be different.
Yeah...Tuesday 2am for us in NZ Jamz......but that will be Monday for USA
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,160
  • Nov 9, 2012 3:29am Nov 9, 2012 3:29am
looks like I missed the party
Look at something long enough, you will eventually get it.
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