Genesis Matrix Trading | Page 384 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Additional Indicators for the Genesis Matrix Trading System 683 replies

Genesis Matrix Trading indicator 20 replies

Is there an EA about Genesis Matrix Trading? 2 replies

Genesis Matrix Journal 5 replies

Genesis Matrix Trading for Jforex 13 replies

Attachments: Genesis Matrix Trading
Exit Attachments

Genesis Matrix Trading

  • #7,661
  • Nov 22, 2012 1:56am Nov 22, 2012 1:56am
Quoting magdelen
its going to be like watching paint dry with the us markets closed
Frankie and London is still open though so we might see some action before the NY hour comes along.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,662
  • Nov 22, 2012 2:41am Nov 22, 2012 2:41am
hope someone caught that move on the U/J was watching it earler and go bored so went onto something else
and missed it
  • #7,663
  • Nov 22, 2012 2:46am Nov 22, 2012 2:46am
Quoting magdelen
hope someone caught that move on the U/J was watching it earler and go bored so went onto something else
and missed it
The move actually started well before Frankie, but I missed it too on the UJ pair. The same move was good for EJ and CJ, but it started a long time before Frankie and I just wasn't around at the time.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,664
  • Nov 22, 2012 3:03am Nov 22, 2012 3:03am
decided to buy on EU. i know that it's a bit risky consider the price is near the R1 Pivot line. So i will pay attention closely to this trade
Attached Image (click to enlarge)
Click to Enlarge Name: 20121122-02.jpg Size: 263 KB
  • #7,665
  • Nov 22, 2012 3:12am Nov 22, 2012 3:12am
Quoting vahn
decided to buy on EU. i know that it's a bit risky consider the price is near the R1 Pivot line. So i will pay attention closely to this trade
not strong enough to break R1. closed at BE+1.
  • #7,666
  • Nov 22, 2012 3:20am Nov 22, 2012 3:20am
Quoting vahn
not strong enough to break R1. closed at BE+1.
You're lucky to get away with that really......there was so many things wrong with that trade!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,667
  • Nov 22, 2012 3:23am Nov 22, 2012 3:23am
Quoting realjumper
You're lucky to get away with that really......there was so many things wrong with that trade!!
Hi RJ,

Could I ask if you could point out those mistakes I almost also took the trade!!!
  • #7,668
  • Nov 22, 2012 3:24am Nov 22, 2012 3:24am
Quoting realjumper
You're lucky to get away with that really......there was so many things wrong with that trade!!
yeah, rj. i just took that trade because it formed a double bottom and the h1 trend is up.
  • #7,669
  • Nov 22, 2012 3:29am Nov 22, 2012 3:29am
Quoting jono717
Hi RJ,

Could I ask if you could point out those mistakes I almost also took the trade!!!
what i see are :
- it's near the resistance (R1 pivot line)
- it's also near to today high

i already mentioned that it was a risky trade, but consider i already made profit in asian session, i decided to take the trade.
  • #7,670
  • Nov 22, 2012 3:34am Nov 22, 2012 3:34am
Quoting jono717
Hi RJ,

Could I ask if you could point out those mistakes I almost also took the trade!!!
The trade was entered about 7 pips below R1, which is crazy. The PA will stop at R1 9 times out of 10 and with the SL placed under the swing low, which is about -20.....that gives and almost 1:3 R/R........which is even more crazy!!

And the worst sin is that the high of today.....just before Tokyo open has not been broken since the beginning of the month, showing that that level is a strong support/resistance area.
Attached Image (click to enlarge)
Click to Enlarge Name: euh4.jpg Size: 217 KB
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,671
  • Edited 3:56am Nov 22, 2012 3:44am | Edited 3:56am
  •  Jamz
  • | Joined May 2012 | Status: Tops and bottoms are for bikinis | 798 Posts
Tried to wait for a happy chart for Gumrai but.......I think news at 10:00 made it alter course..... GBPUSD
Attached Image (click to enlarge)
Click to Enlarge Name: Genesis trade Thursday.jpg Size: 120 KB
  • #7,672
  • Nov 22, 2012 3:45am Nov 22, 2012 3:45am
Quoting realjumper
The trade was entered about 7 pips below R1, which is crazy. The PA will stop at R1 9 times out of 10 and with the SL placed under the swing low, which is about -20.....that gives and almost 1:3 R/R........which is even more crazy!!

And the worst sin is that the high of today.....just before Tokyo open has not been broken since the beginning of the month, showing that that level is a strong support/resistance area.
Quiet alot too take in but get there slow but surely.
  • #7,673
  • Nov 22, 2012 3:58am Nov 22, 2012 3:58am
Quoting jono717
Quiet alot too take in but get there slow but surely.
Yeah, there is a lot to take in, but we must do this analysis once a day to help prevent losses. For instance....why did the PA stop at R1?......apart from the fact that it was R1 I mean! So we look back and we see it stopped there just before Tokyo open. Why did it stop there? Lets look at a bigger chart TF. we look at the H1, and we don't see any apparent reason. So we look to the H4. AH HAH!!!!! About Nov 7 the PA also got turned back at the same level. Lets zoom out the chart some more......AH HAH....10th Oct and 15th Oct the PA also got turned around there. Scroll the chart left.....WOW.....got turned around 3 times in Sept (one with a bit of an overshoot). So now we know that this area is a problem for the PA, so we'd better not enter the trade.....in fact, we better make a note of this for next time we are at this level.

So only once since since Sept has the PA just smashed through this level, and that was the bears on about 2nd Nov. The PA does what it always does and it came back and retested the level on 7th Sept.....and failed.....so the bears pushed it down another 200 pips.

Betcha that when the bulls break this level, the PA will also come back and test the level, and if it holds, the bulls will have full control and it will be safe to enter longs to your hearts content.

That's how it's done......it takes 10 minutes and it tells the story in detail of this 2850-ish level of s/r
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,674
  • Nov 22, 2012 4:01am Nov 22, 2012 4:01am
I took this position on EJ 5min, entered again on the 1min after a pull back to some RBS. I posted a trade similar to this last week.
I then saw the same setup's (5min/1min) the next day and hesitated and didn't pull the trigger. Then again this week.
I am trading the 5_15 system with Exit 3.
My question is, because I'm new, am I putting to much emphasis on the 1min entries or is this a perfectly valid way to trade?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ej 221112 10-24 1min.gif Size: 25 KB
Click to Enlarge Name: ej 221112 10-24 5min.gif Size: 26 KB
  • #7,675
  • Nov 22, 2012 4:07am Nov 22, 2012 4:07am
Quoting realjumper
Yeah, there is a lot to take in, but we must do this analysis once a day to help prevent losses. For instance....why did the PA stop at R1?......apart from the fact that it was R1 I mean! So we look back and we see it stopped there just before Tokyo open. Why did it stop there? Lets look at a bigger chart TF. we look at the H1, and we don't see any apparent reason. So we look to the H4. AH HAH!!!!! About Nov 7 the PA also got turned back at the same level. Lets zoom out the chart some more......AH HAH....10th Oct and 15th Oct the PA also got turned...
See RJ that what I am taking about I have read alot of guides, did babypips school but nothing come to the bit of advice you just gave. That is just straight experience.

Thanks you so much for that bit of advice. Really
  • #7,676
  • Nov 22, 2012 4:12am Nov 22, 2012 4:12am
Quoting Ta Hui
I took this position on EJ 5min, entered again on the 1min after a pull back to some RBS. I posted a trade similar to this last week.
I then saw the same setup's (5min/1min) the next day and hesitated and didn't pull the trigger. Then again this week.
I am trading the 5_15 system with Exit 3.
My question is, because I'm new, am I putting to much emphasis on the 1min entries or is this a perfectly valid way to trade?
Well it is a valid way to trade, but I think that for new traders it's probably better to avoid using the M1 charts if at all possible. Everything happens so fast on the M1 that it's easy to make mistakes. I do use M1......but only when I'm looking for an entry (or re-entry) during a long slow day long climb or fall of the PA, and the stoch is 'on the roof' on 'on the floor' and Genesis M5 & M15 is not helping. The choices are to forget about the trade because I missed the best entry, or to take the riskier option of drilling down to M1 and looking for a valid entry *with the trend*. Other than that, I try to stay away from M1. M5/M15 or 5-15 gives plenty of opportunities, but you have to be patient and let the trades come to you......don't chase them. It's like trying to jump on a moving train as it's already leaving the station......you might be ok, but it;s a high risk thing to do and you might get hurt. Better to wait for the next train
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,677
  • Nov 22, 2012 4:12am Nov 22, 2012 4:12am
Quoting Jamz
Tried to wait for a happy chart for Gumrai but.......I think news at 10:00 made it alter course..... GBPUSD
You must have your pivots on the charts: R1 at 5976 would have told you that with an entry at 5963 you might not get more than 10+ pips out of that trade (not a lot but at least your RRR with your SL at 5952 was still near 1)
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.jpg Size: 121 KB
  • #7,678
  • Nov 22, 2012 4:12am Nov 22, 2012 4:12am
  •  Jamz
  • | Joined May 2012 | Status: Tops and bottoms are for bikinis | 798 Posts
Yes, and I can see a comparable description to what happened on the GBP trying to reach new heights as well, cheers RJ
  • #7,679
  • Nov 22, 2012 4:13am Nov 22, 2012 4:13am
Quoting jono717
See RJ that what I am taking about I have read alot of guides, did babypips school but nothing come to the bit of advice you just gave. That is just straight experience.

Thanks you so much for that bit of advice. Really
You're welcome......I learned this partly the hard way, and partly because some very good traders like acumen and AtLast helped me when I too was struggling.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #7,680
  • Nov 22, 2012 4:17am Nov 22, 2012 4:17am
  •  Jamz
  • | Joined May 2012 | Status: Tops and bottoms are for bikinis | 798 Posts
Quote
olivierforex R1 at 5976

Hmmmmmm, my R1 is at 1.5996
3 traders viewing now