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Genesis Matrix Trading

Quoting padila
{quote} Both your trades are according to the Genesis rules. You read the stochastics right. Lets wait for comments from RJ/ Marty. Other thing that helps is to put the Markets open indicator on the charts. As you read the thread, you will see how higher time frames are read by the experienced traders.
Thanks for your help, Yeah I think you are right its will give me a good idea about the higher time frame. I m gonna use it from now on wards and with the help of you guys may be one day i can become a good trader

Thanks for your feedback. I really appreciate it
In Love with Genesis
Quoting Martyfish
{quote} In principle, just purely looking at the M5 chart it all looks good; did you check M15 ??.... but Were you aware of the ECB rate press conference call, and Draghi's comments. The markets have been in great debate over what they were going to do, their decision was controversial. So it proves Genesis provides accurate signals; and sometimes knowing too much about the bigger picture, can make you unnecessarily over-cautious. Not sure if you stop got taken out ?? But as for entries pretty good
yes I have checked M15 before entering, wasn't really sure about that but i think this is something which I can master through proper practice. Its under my consideration from now on wards

Yes I was well aware of the Big news , the risk was minimum according to me that's y i entered
+20 pips on both trades at the end

I really appreciate how you guys are helping traders like me. Its really encouraging and i owe a big thank you to all you for this
In Love with Genesis
Quoting SohaibKhan
{quote} yes I have checked M15 before entering, wasn't really sure about that but i think this is something which I can master through proper practice. Its under my consideration from now on wards Yes I was well aware of the Big news , the risk was minimum according to me that's y i entered +20 pips on both trades at the end I really appreciate how you guys are helping traders like me. Its really encouraging and i owe a big thank you to all you for this
Sohaib,

I think you are on the right track. The beauty of Genesis is that it gives easy-to-read and unambiguous signals. It is a matter of getting used to what the right signals are so that your eyes pick up the positive signals without much effort.

There are many experienced traders in this thread who will help you along. My only suggestion is that read the entire thread. It is a treasure trove of information. It helps to post charts with your questions like you are doing, so that everyone can see what you are asking.

Regarding the multi-time-frame analysis, recently there have been a lot of discussion around the topic. Marty and RJ have contributed a great deal on MTF analysis. Read the Xaphod thread regarding the additional tools. Stochastics play a central role in Genesis Trading and there are a wealth of information about stochastics here, all you have to do is read along. There is a link on post #1 about stochastics written by Wiz which is really enlightening. A good understanding of Stochastics is vital to successful trading with Genesis.

Best wishes.

Padila
What the mind does not know, the eyes cannot see
Quoting Loy
let we see if I'am able to get something right............. sold 3161 {image}
moved SL @ 3080

see you tomorrow
Hey everyone.

I have an unusual question, which comes from the fact that I don't have enough time trading forex behind me.
With summer approaching, I've read that volatility drops, right? I was wondering how that affects genesis traders. I know it is not an exact science, but I was wondering if any of you more experienced traders (RJ, marty and the rest of you whose great advice have allowed me to progress pretty neatly the past few months) could share their experiences from, let's say, the previous summer? Are HPT harder to get, do you spend way less time trading? I'd like to be prepared for what's coming, because I'm about to launch a fully funded account and would like to avoid getting shook and bitten by the market as much as possible... Please forgive me if I am out of line in asking such a thing, I figure I'd turn to people I trust and know are competent, and not just anybody.

I feel ready to go live, my last weeks on demo have proven very profitable. I base my trading fully on RJ's rules now (HA included ), I know I will stick to HPT setups because I have proven to myself that it's the way to stay consistent, and staying consistent is what would allow me to actually live off forex trading. I don't fear getting burnt too badly, I fear a streak of losses due to the fact that I have failed to adapt to the summer market conditions. I would be really grateful if you could help me out with this, as I feel it is the last obstacle in front of me. I would also love to keep contributing to this thread, but with live trades this time, because they mean so much more than a simple unplanned demo screw-up that turns out profitable per se.

Once again, thanks for everything so far, and thanks for this in advance.

P.S: In writing this I actually realize I'm an idiot for not demoing throughout the summer THEN launching an account, but I still have some hope that I'm on the right track and could handle trading this summer even without such experience. I realize my arrogance in this case might be my downfall, but depending on what the answers to this posts would be I'll decide if I'll trade demo or go live asap.
Quoting WDays
Hey everyone. I have an unusual question, which comes from the fact that I don't have enough time trading forex behind me. With summer approaching, I've read that volatility drops, right? I was wondering how that affects genesis traders. I know it is not an exact science, but I was wondering if any of you more experienced traders (RJ, marty and the rest of you whose great advice have allowed me to progress pretty neatly the past few months) could share their experiences from, let's say, the previous summer? Are HPT harder to get, do you spend way...

Last year, all of last year, the volatility in the markets was way down on previous years, and certainly way down on this year (so far). There are many pairs which have ATR's of well over 150 pips/day, and we have seen many, many moves of more than 200 pips/day. Last year, and I'm just guessing here, the volatility was way down in the 60 pips/day region on average although there was the odd days (of course) where we got some great runs. Even so, profits still came just the same. HPT's still came, but they may not have run so far as this year, but they were still easy to spot and the exits were the same as now. Everything was pretty much the same as now, just that the price didn't move as far as it has been doing this year.

Bearing in mind the above, we don't need 150 pip/day moves in order to be profitable. It's nice to have big moves and bank lots of pips, but you can do very nicely indeed on much, much less than that if you apply lot size compounding. Download the 'Daily Pip Target' spreadsheet from Post #1 and you will see what I mean.

As I'm sure you've noticed, the first 3 or 4 hours of London session are where the pips often come from. During this time it should not be difficult to pick up 50 pips....and that's all you need. There's no need to try and force the issue and end up with a loss, if there isn't a HPT set up, then keep your money in your pocket and lose nothing. Tomorrow there might be a set up that gives up 70 pips, the next day 40, the next day 65, the next day 10 etc etc etc. Try not to fall into the trap of aiming for 50/day 'at all costs'........the 50/day target is an average, as I'm sure you can see. If you can end the week/month with an average of 50/day and you apply the compounding method, you'll be very happy.

With compounding, as you can see from the spreadsheet, the numbers get very big towards the end....but....the risk doesn't change. The risk is always the same, just the $ amount's change......the risk is the same and the target is the same.

As I have said many times before, patience is the holy grail for fx trading, imo. Too many people feel compelled to be in a trade just because they can be.....or because they fear missing out on a move. If you are constantly 'in a trade' just because you can be, then your win:loss rate will suffer. Lets say you enter 100 trades/week...you might only win half of them, and with the right MM you will still be profitable.....but it's pretty stressful doing it that way. Instead if you wait (drinking coffee) for the perfect HPT set up, chances are you will win 85% of your trades. So you might make (say) 10 trades/week, but win 85% of them, for not a lot of stress....or....make 100 trades/week and win 50% of them, for a lot more stress.

Have a think about it.....check out the spreadsheet and then make your decision. And by the way, I don't think you're an idiot or arrogant....we all have to take that leap of faith at some stage, and as long as you are patient and let the trades come to you, I think you'll be fine.
Doing what you like is Freedom. Liking what you do is Happiness.
Quoting realjumper
{quote} .......Have a think about it.....check out the spreadsheet and then make your decision. .....
Hi rj. Where to find the spreadsheet?
Quoting CowLee
{quote} Hi rj. Where to find the spreadsheet?
Did you read post 1? It's at the bottom with all the links...
  •  Jamz
  • | Joined May 2012 | Status: Tops and bottoms are for bikinis | 798 Posts
"Gosh, that was fun. I might try that again tomorrow night!"

http://www.forexlive.com/wp-content/...013-small1.png
Thanks RJ,

I've been reading like crazy

snarlyjack
Quoting realjumper
{quote} Last year, all of last year, the volatility in the markets was way down on previous years, and certainly way down on this year ........ come to you, I think you'll be fine.
Thanks WDays for asking the question and thanks RJ for the answer. This issue was bothering me for some time as I am in somewhat similar situation. Your discussion has given me confidence. Thanks.
What the mind does not know, the eyes cannot see
Quoting realjumper
{quote}As I have said many times before, patience is the holy grail for fx trading, imo.
I am a fallible imperfect person; so I must be a fallible imperfect trader.
Quoting Loy
{quote} moved SL @ 3080 see you tomorrow
morning/evening all
I'm always there
Let we see what will happen
Quoting realjumper
If you can end the week/month with an average of 50/day and you apply the compounding method, you'll be very happy
that's interesting so much
so, let me do an example, just to see if I've undersstood well
it's in euro, as it can be valid in every currencies

- Account 5.000 euro;
- Leverage 10;
- Cross Eur/Usd;
- Pip value (actual) 3,82;
- Weekly medium target 250 pips (50/day * 5);
- Compounding all;
- Start period weekly may 5 2013;

(Just to be intended as medium results)

- After 1 week / 5.995 Euro
- @ weekly august 12 2013 / 48.509 Euro
- @ weekly december 12 2013 / 795.080 Euro


................. no ........................



I need a coffe ..........................
missed it because before FO
did you take it?
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Quoting Loy
{quote} that's interesting so much so, let me do an example, just to see if I've undersstood well it's in euro, as it can be valid in every currencies - Account 5.000 euro; - Leverage 10; - Cross Eur/Usd; - Pip value (actual) 3,82; - Weekly medium target 250 pips (50/day * 5); - Compounding all; - Start period weekly may 5 2013; (Just to be intended as medium results) - After 1 week / 5.995 Euro - @ weekly august 12 2013 / 48.509 Euro - @ weekly december 12 2013 / 795.080 Euro ................. no ........................ I need a coffe...
Achieving 50 pips a day is a lot harder than it sounds !!

Factor in bank holidays, small ranging days, bad trading days, illness, internet/computer crashes, etc

and thats after you achieve consistent trading ability
I am a fallible imperfect person; so I must be a fallible imperfect trader.
Quoting Martyfish
{quote} Achieving 50 pips a day is a lot harder than it sounds !! Factor in bank holidays, small ranging days, bad trading days, illness, internet/computer crashes, etc and thats after you achieve consistent trading ability
for sure
it was to know if I've understand well RJ's post
Quoting Loy
missed it because before FO did you take it? {image}
it would be a good trade
shorted the DP
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Good morning/evening everyone, I've been searching the thread about "correlated pivots" but found just some mentions (around pages 300 and 600) and still is not clear to me. So sorry if this has been asked and answered before.

Mi question is... how do you handle correlated pairs that have pivots in the opposite side of the price action?

I mean, imagine that the price falls in GJ and EJ but in GJ Pivot is on the way while in EJ the price is already below it, and you decide to trade EJ... PA will probably reflect somehow pivots in correlated pairs. Do you take this into account to see is there's enough room for a trade?

Sorry if I cannot define my question any better.
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Good judgement comes from experience, experience comes from poor judgement
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