Genesis Matrix Trading | Page 524 | 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

  • #10,461
  • Mar 6, 2013 4:27am Mar 6, 2013 4:27am
Quoting realjumper
Thank you wiz
I am always here RJ even if I can't post frequently ...
... and finally I am back to trading. Unfortunately Mr. Market is not so available to give me many pips for the time being ..... but I am patient
You control how you trade; the market controls how and when you'll get paid
  • #10,462
  • Mar 6, 2013 4:31am Mar 6, 2013 4:31am
Quoting wiz3003
I am always here RJ even if I can't post frequently ...
... and finally I am back to trading. Unfortunately Mr. Market is not so available to give me many pips for the time being ..... but I am patient
Home life and family always comes first wiz......but I see you here from time to time , and your posts are always perfect and worth waiting for

Yep, trading is tricky at the moment.....and it seems worse because we have had such a good run on the Yen crosses so far this year. No matter, the EU pair can't live in this range forever
Doing what you like is Freedom. Liking what you do is Happiness.
  • #10,463
  • Mar 6, 2013 5:09am Mar 6, 2013 5:09am
Quoting realjumper
Home life and family always comes first wiz......but I see you here from time to time , and your posts are always perfect and worth waiting for

Yep, trading is tricky at the moment.....and it seems worse because we have had such a good run on the Yen crosses so far this year. No matter, the EU pair can't live in this range forever
Correct me if I'm wrong, but it seems it has tested the upper channel line twice now and failed. On a side note, the retreat to the lower channel line can provide opportunities, can't it? Just need to watch out for a return to the resistance line before a full drop to the support one, right?
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh1.png Size: 75 KB
  • #10,464
  • Mar 6, 2013 5:22am Mar 6, 2013 5:22am
Quoting WDays
Correct me if I'm wrong, but it seems it has tested the upper channel line twice now and failed. On a side note, the retreat to the lower channel line can provide opportunities, can't it? Just need to watch out for a return to the resistance line before a full drop to the support one, right?
If I was going to draw a channel there I would do it differently...see my chart.

The trouble with drawing these things, is that you can get sucked into a bias, just as you have done!! I don't pay much, if any attention to these things because they develop a bias in your mind. For instance, if the PA hits the top line you will be thinking "Ok.....I'm looking for a short"......you see?.....now you are biased towards the short side and if the PA goes the other way you will miss the long entry.

I look at these things on the Daily chart and the Weekly chart and sometimes the H4, but they are only to keep in the back of my mind.....I don't trade them.....i just observe them, and let our system provide the entry, whether or not it agrees with any trendline.

That's why I say that we are system traders here.....not predictive traders!!
Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 149 KB
Doing what you like is Freedom. Liking what you do is Happiness.
  • #10,465
  • Mar 6, 2013 5:36am Mar 6, 2013 5:36am
Quoting realjumper
If I was going to draw a channel there I would do it differently...see my chart.

The trouble with drawing these things, is that you can get sucked into a bias, just as you have done!! I don't pay much, if any attention to these things because they develop a bias in your mind. For instance, if the PA hits the top line you will be thinking "Ok.....I'm looking for a short"......you see?.....now you are biased towards the short side and if the PA goes the other way you will miss the long entry.

I look at these things on the Daily chart and the...
Oh, damn. Well I was most certainly not trying to predict where it would go, I mean I would wait for a test, retest if needed and so on, then I would wait for it to show me the direction. But I thought of it as drawing S/R levels, telling me if it would be safe or not to take a trade in whatever direction. I would still take a short if genesis told me to since we're pretty close to DP (which got broken earlier) and so on, but for me to do so I would first like to see it test DP and fail, I wouldn't rush into a short trade simply because an H1 channel that I drew, and that is subjective as hell told me to
  • #10,466
  • Mar 6, 2013 5:51am Mar 6, 2013 5:51am
Quoting WDays
Oh, damn. Well I was most certainly not trying to predict where it would go, I mean I would wait for a test, retest if needed and so on, then I would wait for it to show me the direction. But I thought of it as drawing S/R levels, telling me if it would be safe or not to take a trade in whatever direction. I would still take a short if genesis told me to since we're pretty close to DP (which got broken earlier) and so on, but for me to do so I would first like to see it test DP and fail, I wouldn't rush into a short trade simply because an H1 channel...

Thats the problem with these channels, waves etc. Two people with the same information will view the market in a totally different way and as much as you say it won't form a bias- that is the very reason why people draw these tools.
.... laughing all the way to the bank
  • #10,467
  • Mar 6, 2013 6:12am Mar 6, 2013 6:12am
Just looking at tomorrows news events (my time) and I see some news coming out of Japan that might be interesting. It's so irritating how Japan will not give a fixed time for their events.....they are always marked as 'Tentative'.....just sayin...
Doing what you like is Freedom. Liking what you do is Happiness.
  • #10,468
  • Mar 6, 2013 7:21am Mar 6, 2013 7:21am
that's why I use horizontal levels most of the time (90%+). They are drawn the same by everyone, unlike trend channels
  • #10,469
  • Mar 6, 2013 7:33am Mar 6, 2013 7:33am
Quoting Ati_82
that's why I use horizontal levels most of the time (90%+). They are drawn the same by everyone, unlike trend channels
Ah but when you get a bit of practice, channels are incredibly profitable !!!

Just continue practicing !!

But thats another system
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #10,470
  • Mar 6, 2013 7:48am Mar 6, 2013 7:48am
Is that a double bottom forming, I spy on M30 GU ???
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #10,471
  • Mar 6, 2013 7:55am Mar 6, 2013 7:55am
Quoting Martyfish
Is that a double bottom forming, I spy on M30 GU ???
It sure does look like it Marty.
.... laughing all the way to the bank
  • #10,472
  • Mar 6, 2013 7:59am Mar 6, 2013 7:59am
Quoting itsallover
It sure does look like it Marty.

.... but the USD Index shows USD is still strong against Sterling at this moment
.... laughing all the way to the bank
  • #10,473
  • Mar 6, 2013 7:59am Mar 6, 2013 7:59am
Another small (Demo) trade. EU 5M +13 pips. Again Genesis showed me the direction right before new release. It looks like smart money already knows the result of news and prepares the game plan before the news release.

Attached Image


Attached Image (click to enlarge)
Click to Enlarge Name: 2013-03-06_22-48-47.png Size: 13 KB
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #10,474
  • Mar 6, 2013 8:07am Mar 6, 2013 8:07am
Quoting itsallover
.... but the USD Index shows USD is still strong against Sterling at this moment
We shall see if S1 holds (with WP close by) ??
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #10,475
  • Mar 6, 2013 8:15am Mar 6, 2013 8:15am
Quoting heispark
Another small (Demo) trade. EU 5M +13 pips. Again Genesis showed me the direction right before new release. It looks like smart money already knows the result of news and prepares the game plan before the news release.

Attachment

Attachment
I made an "oopsie" yesterday at British PMI release, genesis gave me a short signal on m5 2 minutes before the actual news so I shorted and when the news came out genesis repainted (since m5 candle hadn't closed yet), news were bullish and my stop was triggered (demo luckily). On the other hand, m1 had given the correct signal in hindsight, so if I hadn't decided to simply ditch trading the initial impulse, thats what I would be looking for. But for now, I'd rather keep focusing on high probability trades, there's just too many factors around news... A news release such as a higher unemployment rate can be seen as both bullish and bearish based on a bigger picture, it's just too subjective. Sometimes market has already accounted for the news in the current price and a positive news release can bring forth a sell-off due to profit taking etc. etc. I'd rather just see which direction the market picks, trade based on the news but not the news itself.
  • #10,476
  • Mar 6, 2013 8:43am Mar 6, 2013 8:43am
Quoting WDays
I made an "oopsie" yesterday at British PMI release, genesis gave me a short signal on m5 2 minutes before the actual news so I shorted and when the news came out genesis repainted.......
Of course, I don't trade news and I avoid news whenever possible. However, SL was relatively cheap and I decided to give a shot. That's it.
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #10,477
  • Mar 6, 2013 9:04am Mar 6, 2013 9:04am
EU: All Genesis tapes from 5M to D1 show sell signals (including not confirmed ones) at this time....
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #10,478
  • Mar 6, 2013 9:13am Mar 6, 2013 9:13am
Quoting itsallover
.... but the USD Index shows USD is still strong against Sterling at this moment
S1 held and Kelly rode to resuce !!
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #10,479
  • Mar 6, 2013 9:37am Mar 6, 2013 9:37am
Quoting Martyfish
S1 held and Kelly rode to resuce !!
.... in a Prada and cape
.... laughing all the way to the bank
  • #10,480
  • Mar 6, 2013 9:39am Mar 6, 2013 9:39am
Quoting itsallover
.... but the USD Index shows USD is still strong against Sterling at this moment
Loving the USD Index! Hopped on the EU S1 to S2 train. Oh well, better late than never

SL at BE +3 and took some profit off at +19
mind over matter
89 traders viewing now