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Genesis Matrix Trading

  • #7,261
  • Nov 13, 2012 3:10am Nov 13, 2012 3:10am
Quoting Gumrai
Last week when you said to me to be wary of support on EU at 1.2700 it still didn't sink in with me that it was a BRN.
Lol....we all get days like that!......2700 has been a pain in the ass several times this year so it's one to watch.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,262
  • Nov 13, 2012 3:11am Nov 13, 2012 3:11am
Quoting realjumper
hee hee hee......so do I....I can never remember which way they go!!
A very newbie question regarding divergence. If we are looking at the 5 min TF, should we look at the 5 min stoch or 15 min stoch.
  • #7,263
  • Nov 13, 2012 3:13am Nov 13, 2012 3:13am
Quoting insainty
A very newbie question regarding divergence. If we are looking at the 5 min TF, should we look at the 5 min stoch or 15 min stoch.
The M5 TF and the M5 stoch. The M15 TF and the M15 stoch....etc etc when looking for divergence
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,264
  • Nov 13, 2012 3:13am Nov 13, 2012 3:13am
Quoting insainty
A very newbie question regarding divergence. If we are looking at the 5 min TF, should we look at the 5 min stoch or 15 min stoch.
I look at 5 min and 15 min separate, If I find the divergence on both it just gives me more confidence in the trade.
  • #7,265
  • Nov 13, 2012 3:14am Nov 13, 2012 3:14am
Quoting realjumper
The M5 TF and the M5 stoch. The M15 TF and the M15 stoch....etc etc when looking for divergence
Thanks and which one in your experience is the most effective with the matix system?
  • #7,266
  • Nov 13, 2012 3:14am Nov 13, 2012 3:14am
RJ,

AU stoploss was hit.

I also have an EU trade that switched direction must I be concerned or play it out.

Thanks
  • #7,267
  • Nov 13, 2012 3:16am Nov 13, 2012 3:16am
Quoting werther
Short EU.Taking some profits!!
I´m learning the system.I´m trading only microlots or demo and putting the stops and targets mentally(maybe it´s not the best thing to do).
If you are able to really stick to your mental SL & TP on a live microlots account, it will be serve you better as experience (emotion wise - fear & greed) than having fixed SL & TP on a demo account, I believe.
  • #7,268
  • Nov 13, 2012 3:17am Nov 13, 2012 3:17am
Quoting insainty
Thanks and which one in your experience is the most effective with the matix system?
The general rule of thumb is that the larger the TF that shows a divergence, the more reliable that divergence should be. I mentioned this quite recently, but I look for M5 and M15 divergence for day trading, but I also look at H1, H4 and the Daily for divergence......not for day trading purposes, but to keep in the back of my mind as possible trend reversal points.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,269
  • Nov 13, 2012 3:25am Nov 13, 2012 3:25am
Quoting realjumper
I'll let this trade ride for a while.....it's at BE but my SL is still above the swing high & DP. I'll let it be and see where it goes.
It went to -17! Oh well.....that's the way the cookie crumbles....on to the next one!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,270
  • Nov 13, 2012 3:31am Nov 13, 2012 3:31am
I'm not in any trade with GU.....but see how Genesis pre-empted the UK news yet again!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,271
  • Nov 13, 2012 3:36am Nov 13, 2012 3:36am
Another thing with trading without a SL.
The unexpected can happen sometimes and you could find yourself without an internet connection and unable to exit a trade.
A few years back a ship's anchor ripped out some undersea cables and we had very bad internet connections for quite some time.
Its also a good idea to set a TP even if its way beyond your wildest expectations. If you find yourself without internet and with only a SL in place, the chances are that it will eventuially hit the stop even though going into profit many times.
I also had the misfortune to have a 5000 Pound plus account with MF Global when they went into recievership.
I didn't have any open trades with them at the time, but I know that traders were unable to manage open positions, not sure if SL and TP were honoured though.
Hopefully I will eventually get my money back, but it all takes time and it seems that the receivers like to make it excessively complicated.

So always set a SL, even if it's 100 pips away. Better than losing xxxx pips if the unthinkable happens.

The beauty of MT4 is that when you see that you may be getting a trade signal soon, You can open the trading window and set the SL and TP in advance. You are then ready to push the button if you get the full signal when the candle closes.
Please Do Not PM Me With Coding Enquiries
  • #7,272
  • Nov 13, 2012 3:43am Nov 13, 2012 3:43am
Quoting Ati_82
I would like to hear what are the experiences with such a situation like that. Too risky for me but maybe playable when a strong trend is on (like now? )
I look at how strong the trend is: is it a gradual one with visible retracements along the way or is it a cascade-type one where you'll be trying to catch a falling knife. If it is the former and you get a nice base/consolidation area around S3 then it can be tradeable if/when all else is pointing the same way (in those cases, consider also a H1 Stox) and you have a good RRR between your SL & the next pivot line. In today's examples (EY & CY) we are only a few pips below where we were 7 hours ago (not a cascade style downtrend) but I'd be wary that we haven't hit the 100%ATR line yet. Either way, they are rarely HPT, and also remember that although it is not showing on Genesis indicators, there is also an S4 further down ...
  • #7,273
  • Nov 13, 2012 3:43am Nov 13, 2012 3:43am
EU,UC and EJ are bouncing between S&R area. Can't find any setup to jump in. And RJ,your AU trade after bounced at BRN,it turned out to be a pretty good long trade. But yeah,hindsight is awesome...
  • #7,274
  • Nov 13, 2012 3:46am Nov 13, 2012 3:46am
Quoting Gumrai
The beauty of MT4 is that when you see that you may be getting a trade signal soon, You can open the trading window and set the SL and TP in advance. You are then ready to push the button if you get the full signal when the candle closes.
A similar thing can be done with FXCM's Tradestation.....at least for the SL. I can't remember how to do it right at this moment, but you can set a generic SL that is entered on all trades at the time of entry. So you could have (say) a -20 SL entered into the system and then every trade you enter, you will automatically have a -20 SL entered at the same time. This means that your account is protected right form the start. Of course you can adjust the SL to whatever you like after the entry is made.

I just can't remember how to do it......lol......I'll have a look tomorrow and get back to you!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,275
  • Nov 13, 2012 3:49am Nov 13, 2012 3:49am
Quoting frenetic
EU,UC and EJ are bouncing between S&R area. Can't find any setup to jump in. And RJ,your AU trade after bounced at BRN,it turned out to be a pretty good long trade. But yeah,hindsight is awesome...
Yes, I had considered that, but the DP was not far ahead and I was looking to see whether the PA was going to be rejected from the DP, which would have been good for my short, but bad for a long.

The reality is that it was a poor entry from me, and that's the bottom line!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,276
  • Nov 13, 2012 3:50am Nov 13, 2012 3:50am
An easy way to remember divergence is when the lines are drawn on top of PA and Stoch it signals down move and up when drawn below
Vandag is die dag.....
  • #7,277
  • Nov 13, 2012 3:54am Nov 13, 2012 3:54am
Quoting Leokira
An easy way to remember divergence is when the lines are drawn on top of PA and Stoch it signals down move and up when drawn below
Good point!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,278
  • Nov 13, 2012 3:59am Nov 13, 2012 3:59am
Quoting realjumper
Yes, I had considered that, but the DP was not far ahead and I was looking to see whether the PA was going to be rejected from the DP, which would have been good for my short, but bad for a long.

The reality is that it was a poor entry from me, and that's the bottom line!!
Yup,but it's in the past so forget it and look for a better setup.
  • #7,279
  • Nov 13, 2012 4:00am Nov 13, 2012 4:00am
Quoting frenetic
Yup,but it's in the past so forget it and look for a better setup.
Yup....that's the way
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,280
  • Nov 13, 2012 4:01am Nov 13, 2012 4:01am
Quoting Leokira
An easy way to remember divergence is when the lines are drawn on top of PA and Stoch it signals down move and up when drawn below
Yup,just like I have read from somewhere else: " bottom up,top down".
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