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Genesis Matrix Trading

  • #7,161
  • Nov 9, 2012 3:48am Nov 9, 2012 3:48am
Quoting sho
EU setting up quite nicely at the DP for another potential short. Watching closely.
Good going Sho: the price was a bit close to S1 by the time the signal arrived if this was anyone's first short trade, but for all those who were looking to add cream on top of the cake from the earlier short, it was a textbook trade. Also a good example of M15 Stox staying on the floor indicating continued weakness (and yes I know, making it harder to pull the trigger on a short because it's been in OS territory already )
  • #7,162
  • Nov 9, 2012 3:53am Nov 9, 2012 3:53am
Quoting olivierforex
Good going Sho: the price was a bit close to S1 by the time the signal arrived if this was anyone's first short trade, but for all those who were looking to add cream on top of the cake from the earlier short, it was a textbook trade. Also a good example of M15 Stox staying on the floor indicating continued weakness (and yes I know, making it harder to pull the trigger on a short because it's been in OS territory already )
Another way of looking at it is that it was a textbook break of the DP.....retest.....rejection.....continuation of the bear run......with stoch support on the M5 + Genesis, and stoch remaining 'on the floor' on M15 if you care to look at it

But.....cream is cream!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,163
  • Nov 9, 2012 4:37am Nov 9, 2012 4:37am
Price was moving quickly when I took this short, so lost a few pips already
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Please Do Not PM Me With Coding Enquiries
  • #7,164
  • Nov 9, 2012 4:42am Nov 9, 2012 4:42am
Quoting Gumrai
Price was moving quickly when I took this short, so lost a few pips already
I must admit that it is tempting to get in here, but 2700 has provided some good S/R in the recent past....check out the Daily chart at this level.....so I'm going to keep my money in my pocket
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,165
  • Nov 9, 2012 4:45am Nov 9, 2012 4:45am
Quoting realjumper
I must admit that it is tempting to get in here, but 2700 has provided some good S/R in the recent past....check out the Daily chart at this level.....so I'm going to keep my money in my pocket

Hi

Me too

And also I see divergense on stoch.

fratelli.dk
  • #7,166
  • Nov 9, 2012 4:55am Nov 9, 2012 4:55am
Quoting fratelli
Hi

Me too

And also I see divergense on stoch.

fratelli.dk
If 2700 breaks......those who are short will do well because there isn't much below here for a while....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,167
  • Nov 9, 2012 4:59am Nov 9, 2012 4:59am
Quoting realjumper
I must admit that it is tempting to get in here, but 2700 has provided some good S/R in the recent past....check out the Daily chart at this level.....so I'm going to keep my money in my pocket
Seriously?
A level that proved to be minor support back in May on the daily charts?
Please Do Not PM Me With Coding Enquiries
  • #7,168
  • Nov 9, 2012 5:04am Nov 9, 2012 5:04am
Quoting realjumper
I must admit that it is tempting to get in here, but 2700 has provided some good S/R in the recent past....check out the Daily chart at this level.....so I'm going to keep my money in my pocket
Also ADR over 100% at this level and weekly S2 at 2693. Things to bear in mind.
A MOUSE THAT ROARS IS STILL NOTHING MORE THAN A MOUSE!
  • #7,169
  • Nov 9, 2012 5:05am Nov 9, 2012 5:05am
Quoting Gumrai
Seriously?
A level that proved to be minor support back in May on the daily charts?
EU Daily
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Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,170
  • Nov 9, 2012 5:07am Nov 9, 2012 5:07am
End of the week, I'm feeling a bit jittery and so moved stop to B/E
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  • #7,171
  • Nov 9, 2012 5:08am Nov 9, 2012 5:08am
Quoting scarlet pipe
Also ADR over 100% at this level and weekly S2 at 2693. Things to bear in mind.
EJ was the pick of the bunch.......nice earner!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,172
  • Nov 9, 2012 5:09am Nov 9, 2012 5:09am
Quoting Gumrai
End of the week, I'm feeling a bit jittery and so moved stop to B/E
It's been a good week too.....one day of nothing, but the rest have been good
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,173
  • Nov 9, 2012 5:11am Nov 9, 2012 5:11am
I have questions concerning specific market situations and I would very much appreciate your opinion.
I'm trading during my regular job hours, and my day starts approximately between frenkie and london open. Sometimes I can commit myself more to trading, and sometimes I'm to busy with my regular job. Since I cannot constantly watch my platform, sometimes I miss the best entry signal. That scenario also happened today. I took the short EY trade; signal happened before I arrived so my entry was not totaly according to the rules because:

- Stochs M5&M15 were in oversold. But, I remember that RJ and other guys were saying that stoch is not simply overbought and oversold indi. It is much more complicated than that and for example, if it is trending, it can stay in overbought/oversold area for quite some time. I think RJ and Oli posted more than few charts concerning that thing.
- SL to last swing was big - around 35 pips. Since it was to big, I decided to put my SL little above DP, around 25 pips.

The reasons why I took this trade were:
- Full matrix
- M5 arrow & MTF15 arrow
- opened below DP
- opened clear of MA
- It was a downtrend
- Formation/shape of HA candles looked good to me
- Divergence on H1 chart

I moved my SL to BE+1 when it was +20 pips, and put my TP few pips above S1, since I had to go to a meeting. When I came back I saw closed position for +49 pips.

My questions to you are:
What is your opinion about this trade, was I lucky since I didn't act totally according to the rules?
Is H1 chart good for spoting divergences for trading on M5 charts, or there are other time frames that are more reliable than H1, for example M15 or M30?

Thank you in advance for your oppinion. Sorry for my "not so good" english....
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  • #7,174
  • Nov 9, 2012 5:20am Nov 9, 2012 5:20am
Quoting realjumper
EJ was the pick of the bunch.......nice earner!
Yep, EJ has been a true gem today. Nice end to the week given it's tough beginning.
A MOUSE THAT ROARS IS STILL NOTHING MORE THAN A MOUSE!
  • #7,175
  • Nov 9, 2012 5:27am Nov 9, 2012 5:27am
Quoting nikz
I have questions concerning specific market situations and I would very much appreciate your opinion.
I'm trading during my regular job hours, and my day starts approximately between frenkie and london open. Sometimes I can commit myself more to trading, and sometimes I'm to busy with my regular job. Since I cannot constantly watch my platform, sometimes I miss the best entry signal. That scenario also happened today. I took the short EY trade; signal happened before I arrived so my entry was not totaly according to the rules because:

- Stochs...
The trade was a good trade and you identified everything perfectly....well done. The danger, as I see it, is that sometimes London will completely reverse what Frankie has done. Check back on your charts and you'll see this happens quite a lot. However, the trend down was pretty strong and you found a good place for your SL, so I think the R/R was certainly worth the effort in the circumstances that you were in re work etc

As for divergence, generally speaking the bigger the timeframe that the divergence is spotted on, the more reliable it becomes. I look at all time frames for divergence but for M5 trading in particular, I look at M5 and M15 charts for divergence that I can use in my intraday trading. H1, H4 and Daily divergence I tend to keep in the back of my mind as possible trend reversal points, but I don't really apply them to my intraday trading.

But.....congratulations on your trade
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,176
  • Nov 9, 2012 5:44am Nov 9, 2012 5:44am
Quoting realjumper
The trade was a good trade and you identified everything perfectly....well done. The danger, as I see it, is that sometimes London will completely reverse what Frankie has done. Check back on your charts and you'll see this happens quite a lot. However, the trend down was pretty strong and you found a good place for your SL, so I think the R/R was certainly worth the effort in the circumstances that you were in re work etc

As for divergence, generally speaking the bigger the timeframe that the divergence is spotted on, the more reliable it becomes....
Thank you very much for your response!
  • #7,177
  • Nov 9, 2012 6:02am Nov 9, 2012 6:02am
It's 3am again for me.....and 2700 seems to holding for the moment so it's time to call it a day and a week!! It's been another good week, and it's been great seeing people here taking the banks money again....great stuff!!

Have a great weekend.......

RJ
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,178
  • Nov 9, 2012 7:13am Nov 9, 2012 7:13am
Quoting nikz
The reasons why I took this trade were....
It was all good Nikz.
An extra bit of confirmation was that the $ & Yen were both bought right at the F'furt open with EU EY CY UC GU & GY all moving in unison and all breaking support (resistance for UC) at the same time on the 07.00 candle (UK Time).

Quoting realjumper
As for divergence, generally speaking the bigger the timeframe that the divergence is spotted on, the more reliable it becomes.
.....eventually (I would add). Looking at your H1 chart, I highlighted 3 bullish H1 divergences but it took until the 3rd one to have a meaningful pullback that you could trade on the Long side on a M5 chart. That's the downside of higher TF divergence (again, no such thing as a free lunch): it can take a while for them to develop and the drawdown associated with H1 divergence on a M5 chart can be big enough to take your SL before it turns the way you want it to.

Quoting realjumper
H1, H4 and Daily divergence I tend to keep in the back of my mind as possible trend reversal points, but I don't really apply them to my intraday trading
Same here: for the reasons given above, I focus more on M5/M15 divergence if I'm trading the M5 chart.
Attached Image
  • #7,179
  • Nov 9, 2012 8:05am Nov 9, 2012 8:05am
Ok can I add my two-pence worth.

In a strong trending market, stochastics become very difficult to interpret, any time frame.

Particularly a weak setting like 11,3,3.

So it is probably not totally an effectively "tutorial", taking a market which is not appropriate for stoch readings.

Thats why we have tapes and arrows to determine trend - trend is stronger than momentum !!

If multiple HTF trends allign, pay attention to that, and less so to stochs.

In a range bound market stochs are KING !

Quoting olivierforex
It was all good Nikz.
An extra bit of confirmation was that the $ & Yen were both bought right at the F'furt open with EU EY CY UC GU & GY all moving in unison and all breaking support (resistance for UC) at the same time on the 07.00 candle (UK Time).


.....eventually (I would add). Looking at your H1 chart, I highlighted 3 bullish H1 divergences but it took until the 3rd one to have a meaningful pullback that you could trade on the Long side on a M5 chart. That's the downside of higher TF divergence (again, no such thing as a free lunch):...
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #7,180
  • Nov 9, 2012 8:17am Nov 9, 2012 8:17am
Hi to all and a truck load of thanks to the Genesis Team for putting together a great system and keeping it nice and clean fro beginners. I had a very good Genesis day today (still on demo).Have posted one of my charts, i took two trades on USDCAD (the blue arrow within the white circle are my entry and TP levels).
I am using a trade manager with TP1=5pips partial close 30%, TP2=10pips partial close 30% and SL moved to entry, TP3=15pips partial close 30% and Trailing Stop activated with 5pip step. I noticed lot of my trades get closed out when Break even is activated at 10 pips (SL moved to entry), maybe i will experiment with SL to entry -5pips.
I noticed two lines named high2 and low2 which PA obeys, could someone pls tell me what these are?
I had the Matrix Signals working for a week and then acting up, is there a bug?

My entries are based on post #2 plus confirmation in M15 (from matrix dash) and also M15 Stoch, did i understand this correctly?

Thanks and have a lovely weekend.
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