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Genesis Matrix Trading

  • #7,281
  • Nov 13, 2012 4:09am Nov 13, 2012 4:09am
Quoting realjumper
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...
With FXCM I know you can set it in the settings tab on the on-line portal.
Not sure whether this then transfers to the MT4 platform.
I may have a go and see if it does, out of interest.
  • #7,282
  • Nov 13, 2012 4:13am Nov 13, 2012 4:13am
Quoting bryce
With FXCM I know you can set it in the settings tab on the on-line portal.
Not sure whether this then transfers to the MT4 platform.
I may have a go and see if it does, out of interest.
I don't use their MT4 for trading, I use Tradestation. I know it can be done because I used to use that feature
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,283
  • Nov 13, 2012 4:16am Nov 13, 2012 4:16am
Several brokers now have mt4 platforms with "one click " dashboards as an ea. IBFX, Pepperstone, Vantage fx and so on. These dashboards can be customised to set sl and tp when order is placed. The sl and tp lines can then be moved with the mouse to more suitable places as the trade develops. It works very well and reliably. This is similar to fxcm's platform.
Vandag is die dag.....
  • #7,284
  • Nov 13, 2012 4:17am Nov 13, 2012 4:17am
PA is being a bit crazy right now! This 1.2700 level seems like a traffic jam!
  • #7,285
  • Nov 13, 2012 4:19am Nov 13, 2012 4:19am
Took the short on EU, but waited a while because of the long tail on the signal candle.
Ready to bail out if PA moves against me to much
Attached Image (click to enlarge)
Click to Enlarge Name: eu 13 nov.gif Size: 23 KB
Please Do Not PM Me With Coding Enquiries
  • #7,286
  • Nov 13, 2012 4:23am Nov 13, 2012 4:23am
Quoting Gumrai
Took the short on EU, but waited a while because of the long tail on the signal candle.
Ready to bail out if PA moves against me to much
I'm with you.Also short AU.
  • #7,287
  • Nov 13, 2012 4:25am Nov 13, 2012 4:25am
Quoting Leokira
Several brokers now have mt4 platforms with "one click " dashboards as an ea. IBFX, Pepperstone, Vantage fx and so on. These dashboards can be customised to set sl and tp when order is placed. The sl and tp lines can then be moved with the mouse to more suitable places as the trade develops. It works very well and reliably. This is similar to fxcm's platform.
Correct me if I'm wrong, but I think that EA type system sets the SL and TP locally, and not on the brokers server. So if the user has a power cut or Internet drop or even a windows crash....then they are exposed with no protection on their trade. With FXCM, the SL is not on the local machine, it is on the FXCM trading server.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,288
  • Nov 13, 2012 4:43am Nov 13, 2012 4:43am
Another stop loss taken
  • #7,289
  • Nov 13, 2012 4:48am Nov 13, 2012 4:48am
Quoting braciola
Another stop loss taken
..on a ranging day like this i need to reduce/remove risk as soon as price action says it is reasonable to do so.
  • #7,290
  • Nov 13, 2012 4:51am Nov 13, 2012 4:51am
Quoting braciola
Another stop loss taken
There are no HP trades on EU........just look at an M15 charts and you can see that.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,291
  • Nov 13, 2012 4:54am Nov 13, 2012 4:54am
I don't know if anybody out there has experienced Genesis Matrix making there system to slow or sometimes not responding especially when you change from one TF to anther. What can be the solution.
  • #7,292
  • Nov 13, 2012 4:56am Nov 13, 2012 4:56am
Quoting braciola
Another stop loss taken
Please, post your chart, just to understand where is your entry.
  • #7,293
  • Nov 13, 2012 4:58am Nov 13, 2012 4:58am
Quoting rotmos
I don't know if anybody out there has experienced Genesis Matrix making there system to slow or sometimes not responding especially when you change from one TF to anther. What can be the solution.
I have 10 MT4 Genesis windows open, plus FXCM Trading Station, plus Firefox, plus Photoshop and everything is running fine here......just a middle of the road machine too....nothing fancy.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,294
  • Nov 13, 2012 5:01am Nov 13, 2012 5:01am
Hi RJ

No the sl and tp is sent to the broker, you can see the price change on the terminal at the bottom of the platform. When the line is moved it becomes dotted until the change is accepted by the broker whereupon it changes to a solid line again.
Vandag is die dag.....
  • #7,295
  • Nov 13, 2012 5:04am Nov 13, 2012 5:04am
Quoting Leokira
Hi RJ

No the sl and tp is sent to the broker, you can see the price change on the terminal at the bottom of the platform. When the line is moved it becomes dotted until the change is accepted by the broker whereupon it changes to a solid line again.
Oh ok.....well that's perfect then. I know that there are some EA's that can be downloaded that allow MT4 to 'drag and drop' SL and TP etc, but they are just local, which is a waste of time.

As long as the SL and TP is sent to the broker, then there is no problem
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,296
  • Nov 13, 2012 5:06am Nov 13, 2012 5:06am
Quoting vamtop
Please, post your chart, just to understand where is your entry.
3 trades I made the stop loss
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  • #7,297
  • Edited 5:33am Nov 13, 2012 5:09am | Edited 5:33am
Right, let me revisit that post so that there is no confusion where I stand and also bearing in mind that we have experienced and new(ish) traders in here.
Quoting olivierforex
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.
This only referred to gaining much needed experience and discipline with manual SL & TP when trading a live microlots account.

My view: your (fixed) SL is your best friend ("Stops are IN, Emotions are OUT") because until you really know what you are doing trading-wise, if you don't have one, you will eventually ignore your 'mental' SL for 2 reasons:
1) habit: every trade that goes against you with serious drawdown but that eventually gets back to BE or even profit will re-inforce the feeling that you don't need a SL because ... "I know what I'm doing/markets always turn around right?/I'm a lucky type of trader/SL are for sissies/etc....." (delete or keep (lol) as appropriate).
2) surprise: this is not an 'if' it is a 'when'.....at some stage in your trading career, if you don't have a SL in place, you will be in a trade that goes so fast and so deep against you that you will simply freeze, unable to click 'close trade' and your trading account will be gone (and although you won't feel that way at the time, count yourself lucky if it happens early in your trading career as your account will likely still be quite small, but it's best that it doesn't happen in the first place lol).
Do you really think that you will be able to react more rationally than a guy with years of experience in the Chicago trading pits when faced with a 1000 points drop in the Dow Jones in minutes?
(For those not familiar with indices, 1 S&P points = roughly 10 Dow Jones Points = roughly 10 Forex pips)
Inserted Video


+ all the various great points made by Jandre, Jamz, Ttraro27, Gumrai,RJ,...(sorry if I missed anyone) on the previous pages should really re-inforce everybody's view about the importance of a SL of some sort with all the trades at all times (maybe a link to the 1st page also?)
Quoting Jandre
You should really get in the habit of using a SL, it will save your account! You may get lucky a few times but trust me its to tempting to say it will turn around! It is absolutely unforgivable to give back 20 good trades with 1 stupid bullshit trade that you could have had a sl on!
Quoting realjumper
Yep.....I agree 100%. All it takes is for Draghi to cough or Bernanke to sneeze or Moodies to grumble about the 'fiscal cliff' and you see a 100 pip spike go against you while you're not looking!! Use the SL.....one day you'll be so glad you did
Quoting Jamz
I will 2nd that Jandre. I have a friend trader who was short NZDUSD some time ago without a stoploss, saying, "oh, it isn't much" but he has not skyped me for over a month so I guess he is still living in pain waiting for it to come down to .74cents again. Better to be stopped out and to have peace of mind and save your account for another perfect setup -- with Genesis of course.....
Quoting ttaro27
Managing your SL and TP manually is fine, but for the SL you should always have one put in place to protect you from the unexpected. You can have one that is further away, just in case something really bad happened, like 9/11 or announcement from someone, it will never be used in normal condition as you manage it manually, but you'll be protected in any case. For TP, well, as long as you stay in front of the monitor, managing manually is fine.
Quoting Gumrai
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. 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.
And I make no apology if I sound like your Grandad
  • #7,298
  • Nov 13, 2012 5:16am Nov 13, 2012 5:16am
I use a live acc from Pepperstone called 'edge', it is brilliant for scalping. When an order is closed the dashboard freezes on the price and this is the closing price unless price moves in your favour. This is very good when one is thousands of miles from NY where the servers lives. Slippage is virtually eliminated, the bane of scalpers. It is only a small account so I can't vouch for it's performance if 10 or 20 lots are traded.
Vandag is die dag.....
  • #7,299
  • Nov 13, 2012 5:16am Nov 13, 2012 5:16am
Quoting braciola
3 trades I made the stop loss
I've mentioned to you once before about the state of your charts (http://www.forexfactory.com/showthread.php?p=6165920#post6165920)......I'm being very lenient here......tidy up your charts please.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,300
  • Nov 13, 2012 5:20am Nov 13, 2012 5:20am
Quoting braciola
3 trades I made the stop loss
The first two long trade had not enough room before the S1 at 1.2689, then you shorted when the matrix signal appeared 7 candles before. Pay attention to the DP,S R and big round number, I trade 10 pips before to allow me the opportunity to put the the SL at the BE if the level is touched.
Please post chart that comply with genesis.
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