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Genesis Matrix Trading

  • #8,281
  • Dec 13, 2012 1:44am Dec 13, 2012 1:44am
Hi i am a long time follower of this thread and first time poster. I would just like to confirm if the following attached chart entry was valid as i entered the trade and it didnt work out but would like more insight as to why. reasons for entry double rejection off r1, stoch 5 min coming down from OB , stoch 15min recently was recently OB, genesis signal
Attached Image (click to enlarge)
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  • #8,282
  • Dec 13, 2012 1:45am Dec 13, 2012 1:45am
Quoting realjumper
Well done

I was possibly a bit quick to move to BE, just because it's counter to a strong bull run. But you held the trade and you reap the rewards.....very nice
As I found a good mentor.
  • #8,283
  • Dec 13, 2012 1:48am Dec 13, 2012 1:48am
Some days it flows, some days it dont !!
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #8,284
  • Dec 13, 2012 1:49am Dec 13, 2012 1:49am
Congrats teapeak, great trading !!
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #8,285
  • Dec 13, 2012 1:50am Dec 13, 2012 1:50am
Quoting Martyfish
Some days it flows, some days it dont !!
Indeed.....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #8,286
  • Dec 13, 2012 2:14am Dec 13, 2012 2:14am
Quoting Martyfish
Congrats teapeak, great trading !!
Thanks a lot. This thread is so inspiring, I learned a lot here. Btw I am still in the trade tempting to go for the daily pivot....will see...currently +75 pips
  • #8,287
  • Dec 13, 2012 2:18am Dec 13, 2012 2:18am
Quoting choppy
Hi i am a long time follower of this thread and first time poster. I would just like to confirm if the following attached chart entry was valid as i entered the trade and it didnt work out but would like more insight as to why. reasons for entry double rejection off r1, stoch 5 min coming down from OB , stoch 15min recently was recently OB, genesis signal
Hey Choppy,

EA can be a funny cow and from what I have found needs breathing space with the stops.

Having said that I wouldn't have taken that particular trade at that point as it was still in an uptrend (my opinion)

The next signal however had 5 min divergence tied in with it

Bryce
  • #8,288
  • Dec 13, 2012 2:20am Dec 13, 2012 2:20am
Quoting teapeak
Thanks a lot. This thread is so inspiring, I learned a lot here. Btw I am still in the trade tempting to go for the daily pivot....will see...currently +75 pips
DP is a good target, especially so early in the session. I know that the suits are yappin at the EU Summit, so hopefully they won't spoil anything
Doing what you like is Freedom. Liking what you do is Happiness.
  • #8,289
  • Dec 13, 2012 2:25am Dec 13, 2012 2:25am
Quoting teapeak
Thanks a lot. This thread is so inspiring, I learned a lot here. Btw I am still in the trade tempting to go for the daily pivot....will see...currently +75 pips
There is significant support 108.63 ???

Which it has bounced of once before ???
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #8,290
  • Dec 13, 2012 2:34am Dec 13, 2012 2:34am
Quoting choppy
Hi i am a long time follower of this thread and first time poster. I would just like to confirm if the following attached chart entry was valid as i entered the trade and it didnt work out but would like more insight as to why. reasons for entry double rejection off r1, stoch 5 min coming down from OB , stoch 15min recently was recently OB, genesis signal
Hi Choppy & welcome,
I can't see anything wrong with your entry apart from the fact that looking at the last 24 hours we were still clearly in an uptrend but on top of your reasons you also had negative M15 Stox divergence, so there was a good case for attempting a short as it gave you also a fairly cheap SL.
I know that not everybody has them on their charts because they can add a bit of 'clutter' and for the less experienced trader it can add an extra layer of indecision, but I like to know where the Weekly/Monthly Pivots are too. The bounce after the entry was spot on the WP (2387) and EA has so far found support at the MP (2369).
Last but not least, I generally recomend 'a handful of pips' above the recent highs/lows for SL placement to avoid whipsaw/SL-hunting: on all my charts, the high after the entry is only 2 pips above so you 'should' still be in but on your chart it looks like more than 2 pips so maybe it was a broker 'difference' that took you out rather than a bad SL level?
Attached Image (click to enlarge)
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  • #8,291
  • Dec 13, 2012 2:37am Dec 13, 2012 2:37am
Quoting Martyfish
There is significant support 108.63 ???

Which it has bounced of once before ???
Looks like it is a strong support will see what happens....
  • #8,292
  • Dec 13, 2012 2:42am Dec 13, 2012 2:42am
Quoting choppy
Hi i am a long time follower of this thread and first time poster. I would just like to confirm if the following attached chart entry was valid as i entered the trade and it didnt work out but would like more insight as to why. reasons for entry double rejection off r1, stoch 5 min coming down from OB , stoch 15min recently was recently OB, genesis signal
I just saw your post now choppy....Oli has give some good reasons there for you, but at the end of the day, your entry was valid and if you look hard enough you can nearly always find a reason to not enter! Trading is not a 'no risk' deal, but with the correct entry, and yours was, the risks are significantly reduced. But, you were just unlucky on that trade in that it came back and knocked you out before continuing down.....sometimes that's the way it goes, we can't win them all.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #8,293
  • Dec 13, 2012 2:53am Dec 13, 2012 2:53am
I just finished the trade on EJ +72 pips as it reversed so I am done for today on this pair.....lets look for another opportunity
  • #8,294
  • Dec 13, 2012 3:00am Dec 13, 2012 3:00am
Quoting teapeak
I just finished the trade on EJ +72 pips as it reversed so I am done for today on this pair.....lets look for another opportunity
Very nice
Doing what you like is Freedom. Liking what you do is Happiness.
  • #8,295
  • Dec 13, 2012 5:21am Dec 13, 2012 5:21am
I will keep in mind what you all have said. Much appreciated
  • #8,296
  • Dec 13, 2012 5:49am Dec 13, 2012 5:49am
NZDUSD Weekly chart

Kiwi has reached the February high, but may go higher so the double top may not happen. Same for the divergence.....it's not confirmed but might be something to watch......
Attached Image (click to enlarge)
Click to Enlarge Name: nu.jpg Size: 203 KB
Doing what you like is Freedom. Liking what you do is Happiness.
  • #8,297
  • Dec 13, 2012 6:32am Dec 13, 2012 6:32am
The IMF have just made a statement," they dont believe there will be a hard landing in China" !!

So pleased they are so confident of their forecasting ability !!

I guess that means there will be a severe hard landing in China.

Glad they cleared that one up

Even though last months report showed imports and exports contracting
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #8,298
  • Dec 13, 2012 7:04am Dec 13, 2012 7:04am
Quoting Martyfish
The IMF have just made a statement," they dont believe there will be a hard landing in China" !!

So pleased they are so confident of their forecasting ability !!

I guess that means there will be a severe hard landing in China.

Glad they cleared that one up

Even though last months report showed imports and exports contracting
It's too close to Xmas: bad news aren't allowed until the New Year now!
PS: good to see you back in here
  • #8,299
  • Dec 13, 2012 8:03am Dec 13, 2012 8:03am
Quoting olivierforex
It's too close to Xmas: bad news aren't allowed until the New Year now!
PS: good to see you back in here
Thx Oli,

Never really left, just got a bit shy/lost for words.

Not like me at all.

But needed a little encouragement from RJ !!
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #8,300
  • Dec 13, 2012 5:36pm Dec 13, 2012 5:36pm
Quoting realjumper
This way against the trend, so SL is tight.....

Hi RJ,

Regarding the EJ trade you have taken (Which Teapeak also took... Congrats to Teapeak )
would you acknowledge that it is a "higher risk" trade since it is counter trend and therefore you would place a tight SL?
as teapeak is making good pips by holding on the trade, if in the future same scenario happen again,
would you change your style and placed the SL not as tight as before?

Thank you
Failure leads to Success if one learns from mistakes and never give up
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