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Genesis Matrix Trading

  • #9,261
  • Feb 6, 2013 3:57pm Feb 6, 2013 3:57pm
Quoting Martyfish
We are technical traders (especially on these timeframes), not fundamental traders - so why consider fundamentals during trading ??
Excellent post Marty. Thank you
Doing what you like is Freedom. Liking what you do is Happiness.
  • #9,262
  • Edited 4:20pm Feb 6, 2013 4:04pm | Edited 4:20pm
Quoting Ati_82
my emotions took over a while ago, I know I should ignore my feelings but being a huge skeptic of this jpy deprecation / eur rally it seems I'm just weak and can't for now. Although i do learn overtime so have stayed out of the market instead going against the trend
I hear what you're saying, and you're not wrong. Sometimes it is very hard to trade against what you know. But we have to do one of two things......believe the signals and enter the trade, or sit the trade out. If your mind tells you that you shouldn't enter the trade, then don't enter it. Just as Marty says, and I'm sure he has a hidden cam in my office, I tick things off my checklist as they occur and when the list is complete, I enter. To hell with the fundamentals......but......I still do sit trades out every now and then because I just can't see the logic behind the trade. Most of the time the trade would have worked out, and I have to mentally kick myself yet again.

No one said this was easy....and just as well too!!

You're a good trader Ati, I have seen you make some good trades in the past and I'm sure you're going to be fine
Doing what you like is Freedom. Liking what you do is Happiness.
  • #9,263
  • Feb 6, 2013 4:24pm Feb 6, 2013 4:24pm
Quoting Martyfish
Also another point Ati,

The EU politicians cant admit the EU economy is really weak, otherwise everyone will say, oh yeah, your right, and money will run out of their banks, and the sh#t hits the fan

So all words out of EU is saying everything is being fixed everything is on course, and the maket seems to believe them ????

Until .... the last straw is carefully laid somewhere sometime, and ..... pfffft
And then we have this astonishing statement: "German government spokesman says EUR is not overvalued at the moment if you look at the long term trend"
Doing what you like is Freedom. Liking what you do is Happiness.
  • #9,264
  • Feb 6, 2013 6:16pm Feb 6, 2013 6:16pm
  •  Jamz
  • | Joined May 2012 | Status: Tops and bottoms are for bikinis | 798 Posts
Quoting Ati_82
Thanks, I agree on everything you said, both on the how to and the economic part. If I start to think about it I get to the same conclusion I will slowly scale myself back in when I have the ability to do intra-day trades. At the moment I should hold positions overnight which I feel not being capable of right now.

Truth is that I've made a few mistakes lately which led to serious decline on my account. Not game over yet luckily and it's a micro account so it won't have an impact on my life. However my ego is bleeding hard looking back at my...
Good one Ati, it is hard to admit where you are up to with trading, let alone want to explain your mistakes to everyone else when Yen crosses are going 260 pips and you're not entering after being super conservative after the wild night before (um, that's me not you........) It occurs to me a consistent mentality is necessary to maintain a consistent trading regime. Marty says it when he puts on his trading persona and RJ admits he still has to kick himself now and then so we are trying to cut down the emotional errors and follow a steady course. Just check out this NZUSD trade I made last night. Genesis rules but manual tradeout to give me +50 pips.....I look back and say "how the hell did I do that?" I can't fit my checklist on a sticky...but everything lined up and it was after a loosing trade that I refused to be fazed out by. Check out some of your good trades as you remind yourself to thin out the loosing ones......Hope you don't mind my 2 cents worth......
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  • #9,265
  • Feb 6, 2013 8:03pm Feb 6, 2013 8:03pm
Quoting realjumper
I just noticed that there is going to be an 'end of year' EU Summit coming up....lol......that makes 26 'Summit's in 3 years......obviously the meaning of the word is lost on those muppets.....

And 6 weeks later these muppets are having yet another 'summit'......lol
Doing what you like is Freedom. Liking what you do is Happiness.
  • #9,266
  • Edited 1:15am Feb 7, 2013 12:57am | Edited 1:15am
Quoting realjumper
Excellent post Marty. Thank you
No problem.

That is part of the fascination of forex trading, there is a natural level of activity (apart from pure trading/speculation) companies needing to buy yen to puchase Jap cars, pension funds need to buy dollars to invest in Treasuries, etc.

Trading in forex is an integral part of the way the modern world economy operates. There is always a huge amounts of forces at play from different aspects across a range of currencies, so on a M5 tmeframe which of those forces are working on one currency and another, would be completely impossible to quantify

I still have top say to myself, eg, my M15 stoch is rising because folks out these are buying, they may have their reasons, then a dip in my M5 stochs, could be traders cashing out on a move, or a big corporate hedging some exposure (ie completely unrelated to technical factors, then traders are jumping in.

Like my comment on EJ yesterday, it fell yesterday, mainly from some comments from some EU politician, but I had a reasonable idea that when US came to their desks, they should be buying on the dip.

and hey presto !!
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #9,267
  • Feb 7, 2013 1:21am Feb 7, 2013 1:21am
Quoting Martyfish
No problem.

That is part of the fascination of forex trading, there is a natural level of activity (apart from pure trading/speculation) companies needing to buy yen to puchase Jap cars, pension funds need to buy dollars to invest in Treasuries, etc.

Trading in forex is an integral part of the way the modern world economy operates. There is always a huge amounts of forces at play from different aspects across a range of currencies, so on a M5 tmeframe which of those forces are working on one currency and another, would be completely impossible...
This is what keeps me interested in forex.....I'm like the donkey.....once I can get the carrot I lose interest in the subject, but FX is a never ending learning curve. The more I learn, the more I appreciate what I don't know!!
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Doing what you like is Freedom. Liking what you do is Happiness.
  • #9,268
  • Feb 7, 2013 1:31am Feb 7, 2013 1:31am
Quoting realjumper
This is what keeps me interested in forex.....I'm like the donkey.....once I can get the carrot I lose interest in the subject, but FX is a never ending learning curve. The more I learn, the more I appreciate what I don't know!!
Very well said! I like donkeys too...

It`s all about "Know Thyself..."
There`s no life before COFFEE!
  • #9,269
  • Feb 7, 2013 2:00am Feb 7, 2013 2:00am
AJ M5

Not a great time between Frankie and London open, but a cheap SL.....
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Doing what you like is Freedom. Liking what you do is Happiness.
  • #9,270
  • Feb 7, 2013 2:27am Feb 7, 2013 2:27am
so far so good !


i think i found my new thread
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  • #9,271
  • Feb 7, 2013 2:30am Feb 7, 2013 2:30am
Quoting realjumper
AJ M5

Not a great time between Frankie and London open, but a cheap SL.....
I took a manual exit at -6 on this one and covered it with a long on the EU. Once EU took off, and UJ went up, the trade was doomed.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #9,272
  • Feb 7, 2013 2:32am Feb 7, 2013 2:32am
  •  Jamz
  • | Joined May 2012 | Status: Tops and bottoms are for bikinis | 798 Posts
There's always something to grumble about -- couldn't shift my TP fast enough and only got +22 pips EURUSD. Are you knocked out of that trade RJ?
  • #9,273
  • Feb 7, 2013 2:33am Feb 7, 2013 2:33am
  •  Jamz
  • | Joined May 2012 | Status: Tops and bottoms are for bikinis | 798 Posts
Quoting realjumper
I took a manual exit .
Very prompt response!!
  • #9,274
  • Feb 7, 2013 2:35am Feb 7, 2013 2:35am
Quoting Jamz
Very prompt response!!
It was a bit of a cheeky counter trend trade. It's covered by EU but it was a bit messy.

There's lots of news out today so the market could get very choppy.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #9,275
  • Feb 7, 2013 2:42am Feb 7, 2013 2:42am
Finally in the green on the EU...after countless failed trades, and reading through ATI's posts I can so relate. Going live is just not the same as demo trading.

  • #9,276
  • Feb 7, 2013 2:43am Feb 7, 2013 2:43am
I'm short on AU as well at the moment...EU is closed so that cover was very timely....got me out of jail and gave a little profit too!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #9,277
  • Feb 7, 2013 2:43am Feb 7, 2013 2:43am
I know EU wasn't exactly 100% HPT.....
  • #9,278
  • Feb 7, 2013 2:45am Feb 7, 2013 2:45am
  •  Jamz
  • | Joined May 2012 | Status: Tops and bottoms are for bikinis | 798 Posts
That's how I felt - it took me to convince myself it was above the pivot and that stochs would be right....:nerd:
  • #9,279
  • Feb 7, 2013 2:46am Feb 7, 2013 2:46am
Ugh I didnt take the USD/CHF short because i was waiting on the NZD

Oh well
  • #9,280
  • Feb 7, 2013 2:49am Feb 7, 2013 2:49am
Quoting fbrand79
I know EU wasn't exactly 100% HPT.....
No it wasn't, but it was a powerful move and Matrix agreed as did stochs
Doing what you like is Freedom. Liking what you do is Happiness.
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