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Genesis Matrix Trading

  • #8,001
  • Dec 3, 2012 5:02am Dec 3, 2012 5:02am
Quoting bryce
It has taken a while, however, GU has returned me 27 pips

EU has been a bit stagnant, not playing the game

AU short earlier in the day +1
Yeah....GU and UJ seem to be the most consistent pairs since Frankie.....and I didn't take ether of them!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #8,002
  • Dec 3, 2012 5:06am Dec 3, 2012 5:06am
Quoting realjumper
Yeah....GU and UJ seem to be the most consistent pairs since Frankie.....and I didn't take ether of them!!
Looking at EU and USDCHF and missed out on all the other trade that are happening.
  • #8,003
  • Dec 3, 2012 5:08am Dec 3, 2012 5:08am
Quoting frenetic
Congrats with your trades and 8000th post in this thread
Thank you and its good luck
  • #8,004
  • Dec 3, 2012 5:09am Dec 3, 2012 5:09am
Quoting jono717
Looking at EU and USDCHF and missed out on all the other trade that are happening.
Yeah it happens....we only have 2 eyes!!

I was distracted by my MT4 playing up.....still.....one small loss for the day isn't the end of the world!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #8,005
  • Dec 3, 2012 5:10am Dec 3, 2012 5:10am
The Importance of Documenting your Trades <--- Some good info there
Doing what you like is Freedom. Liking what you do is Happiness.
  • #8,006
  • Dec 3, 2012 5:55am Dec 3, 2012 5:55am
Quoting Jamz
Here's a eurjpy trade I took just now that thankfully worked out. I entered a little impulsively and not with the 5 minute stoch where I wanted it. So at the bottom of a big candle, (typical!!!) endured pullback with stoploss far more than I can afford too so I am breathing a sigh of relief and will not do that again!!! Entry, 106.318 Exit just above S1 106.105

Jamz,teach me something if you dont mind. How can it be possible to be profitable playing 5 min bars and taking just 20 pip gains. That means if you have a 3 pip spread, you give away 15% of your profit on every trade. End of the year it seems to me,the house has every penny in your account. What am I missing,sir?
  • #8,007
  • Dec 3, 2012 6:07am Dec 3, 2012 6:07am
Quoting Silat50
Jamz,teach me something if you dont mind. How can it be possible to be profitable playing 5 min bars and taking just 20 pip gains. That means if you have a 3 pip spread, you give away 15% of your profit on every trade. End of the year it seems to me,the house has every penny in your account. What am I missing,sir?
How can the house get every penny of his account if it only taking 15% per trade?
Doing what you like is Freedom. Liking what you do is Happiness.
  • #8,008
  • Dec 3, 2012 6:25am Dec 3, 2012 6:25am
Quoting Silat50
Jamz,teach me something if you dont mind. How can it be possible to be profitable playing 5 min bars and taking just 20 pip gains. That means if you have a 3 pip spread, you give away 15% of your profit on every trade. End of the year it seems to me,the house has every penny in your account. What am I missing,sir?
Hi Silat,
For sure 15% is a lot but I think that most traders have smaller spread on the instruments that they trade. Although you're right that it is a 'cost' against you at the end of the day/week/month... you are looking at it the wrong way. Take people who trade indices in the US for example (Dow Jones, S&P...): most don't have a spread at all but they pay comissions on opening and closing trades. Which one is best depends on so many parameters (leverage, frequency of trading...) that I don't think that you can say one is better/cheaper than the other just like that.
These costs (spread or comission or both) are just what's called "the cost of doing business" and you got to live with it: trading is a business (for most of us) and all businesses have associated costs in one area or the other (renting office space, buying stocks before selling it, paying staff wages...). If your trading strategy is good enough then these costs won't matter.
Just because one is able to make some money with 2 clicks of a mouse, you can't expect everything to be free. The old saying "there's no such thing as a free lunch" also applies in trading. If you don't like paying the spread then set yourself up as a broker and 'earn' the spread from all those trading with you. Of course then, you'll also have to cover yourself against all the winning trades that they have as these will be your losses. See, even on the other side the lunch isn't free...
  • #8,009
  • Dec 3, 2012 7:01am Dec 3, 2012 7:01am
Thanks Xaphod for the updated pivot indie
  • #8,010
  • Dec 3, 2012 7:02am Dec 3, 2012 7:02am
So now Spain has officially requested a bail out......
Doing what you like is Freedom. Liking what you do is Happiness.
  • #8,011
  • Dec 3, 2012 7:05am Dec 3, 2012 7:05am
Long trade from the morning. Trade in good direction, but SL too tight. What a pitty. TP was on R2.
Attached Image (click to enlarge)
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  • #8,012
  • Dec 3, 2012 7:10am Dec 3, 2012 7:10am
Quoting iwan73
Long trade from the morning. Trade in good direction, but SL too tight. What a pitty. TP was on R2.
Wasnt the entry not too late for such a ranging M5 chart ?
How to opt out annoying user signatures ??
  • #8,013
  • Dec 3, 2012 7:28am Dec 3, 2012 7:28am
Quoting Silat50
Jamz,teach me something if you dont mind. How can it be possible to be profitable playing 5 min bars and taking just 20 pip gains. That means if you have a 3 pip spread, you give away 15% of your profit on every trade. End of the year it seems to me,the house has every penny in your account. What am I missing,sir?
To go off of what Oli said, take McDonald's for example. They are a business that has taken a high probablility product and turned it into a huge business! It may surprise you to know that 95% of the income they take in over a day goes to overhead! Yet they keep growing. 15% is nothing for a business. That is awesome if that is your only overhead!
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #8,014
  • Dec 3, 2012 7:42am Dec 3, 2012 7:42am
Quoting iwan73
Long trade from the morning. Trade in good direction, but SL too tight. What a pitty. TP was on R2.
Shame as you would have got R2 and 4 pips from R3.
As it's often the case, the last line of Resistance before the move up (3 arrows) will be Support once broken (SL should have been around there or at least below R1).
Similarly on the last move up, expect now some support ahead of 3048/R2 but if/when broken we probably go back to test R1 again
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  • #8,015
  • Dec 3, 2012 5:59pm Dec 3, 2012 5:59pm
  •  Jamz
  • | Joined May 2012 | Status: Tops and bottoms are for bikinis | 798 Posts
Quote
Silat50
Jamz,teach me something if you dont mind. How can it be possible to be profitable playing 5 min bars and taking just 20 pip gains. That means if you have a 3 pip spread, you give away 15% of your profit on every trade. End of the year it seems to me,the house has every penny in your account. What am I missing,sir?

I have never looked at spread as part of my profits, but as an expense to trade. If I remember correctly, that trade bounced of the line as it closed me out and then went back above my entry maybe to stoploss where I would have paid for someone else's Xmas turkey! What I mean is, 20 pips is just fine with me and I wish I could only get 20 pips every night - the spread sheet is somewhere - of course, maths is perfect etc, etc but it is true though if you can just win these small amounts your account builds.
Now, those scalpers who are trying to win 3 pips do tend to moan about spreads. Entry is the key, maybe the trade goes for 20 pips or maybe for 120. As already mentioned 85% is just fine with me if that's how you want to look at it. I got over spreads years ago and suggest it is something not worth much of your time to focus on.
Happy trading,
James.
  • #8,016
  • Dec 3, 2012 9:32pm Dec 3, 2012 9:32pm
Quoting realjumper
From the FF Calendar: 'Eurogroup Meetings - All Day'

FFS are they ever going to do any work or are they going to spend their (highly paid) lives having continual 'meetings' for very little result? </cynicism>
EUR ECOFIN Meeting - All Day
Doing what you like is Freedom. Liking what you do is Happiness.
  • #8,017
  • Dec 4, 2012 2:49am Dec 4, 2012 2:49am
  •  Jamz
  • | Joined May 2012 | Status: Tops and bottoms are for bikinis | 798 Posts
I just took 22.8 pips (couldn't bring myself to stop on 20 ) on the AUDUSD trade. I must confess to mucking about at the currency news though and being impatient instead of waiting for a Genesis entry. I sometimes wonder if I will ever demonstrate some self control.......
  • #8,018
  • Dec 4, 2012 2:54am Dec 4, 2012 2:54am
Quoting Jamz
I just took 22.8 pips (couldn't bring myself to stop on 20 ) on the AUDUSD trade. I must confess to mucking about at the currency news though and being impatient instead of waiting for a Genesis entry. I sometimes wonder if I will ever demonstrate some self control.......
Nice going Jamz.....this must be a case of 'the end justifies the means'....lol
Doing what you like is Freedom. Liking what you do is Happiness.
  • #8,019
  • Dec 4, 2012 3:01am Dec 4, 2012 3:01am
  •  Jamz
  • | Joined May 2012 | Status: Tops and bottoms are for bikinis | 798 Posts
The Genesis signal may have even given me a better entry. I am starting to enjoy!! trading and feel a little disappointed that there must be a break in all this over December etc. I can hear you......"get a life!" Yes, there is a big world out there....:nerd:
  • #8,020
  • Dec 4, 2012 3:04am Dec 4, 2012 3:04am
Quoting Jamz
The Genesis signal may have even given me a better entry. I am starting to enjoy!! trading and feel a little disappointed that there must be a break in all this over December etc. I can hear you......"get a life!" Yes, there is a big world out there....:nerd:
Plenty of time for 'No Candles' IFR trading on the sim......when you get sick of eating, drinking and sleeping!!
Doing what you like is Freedom. Liking what you do is Happiness.
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