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Genesis Matrix Trading

  • #13,421
  • May 16, 2013 10:20am May 16, 2013 10:20am
Quoting niktrad
Anyone trading oil?? {image}
Yes. Love trading commodities. I wouldn't recommend it for newbies though as price often times swings very fast.
  • #13,422
  • May 16, 2013 11:07am May 16, 2013 11:07am
Quoting MKFXTrader
{quote} Yes. Love trading commodities. I wouldn't recommend it for newbies though as price often times swings very fast.
Yes, its always lively, the ATR for the last 28 days is 220.

It obeys genesis and pivots. If you get direction right and use a fairly wide stoploss you often get a good movement - especially in the afternoon.
  • #13,423
  • May 16, 2013 11:20am May 16, 2013 11:20am
Tried the system today a bit, entered 2 trades based on 1H SR flip.
Was a bit late in the day for me, so I wasnt monitoring close and just put a trail on it.

Will investigate further...
Attached Image(s) (click to enlarge)
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Thoughts are things
  • #13,424
  • May 16, 2013 4:45pm May 16, 2013 4:45pm
Quoting stevepatt
{quote} EUR/GBP Long Stop loss hit (-1R) AUD/JPY Short TP +1R USD/CAD Long BE +2 pips EUR/USD Short +1R Considering, I'm looking at H4 charts there are a lot of potential setups I'm going to have to look at dropping my exposure per trade. I'm going to add the D1 Genesis Matrix to the H4 chart, for extra filtering, wait for a signal on the D1 Matrix and then look for setups on the H4 chart to take a trade.
That EU short was a really nice trade. Congrats, Steve! I saw the setup, but didn't take it eventually (newbie hesitation syndrome).

Fingers crossed for the USDCAD trade too

Thank you for posting.
mind over matter
  • #13,425
  • May 16, 2013 5:01pm May 16, 2013 5:01pm
Quoting stevepatt
{quote} Hi RJ, Sorry for the late reply been busy with other things. I usually look at moving my SL to BE +2 after it gets to +1R, although with this method, I'm struggling, to get more than 1R out of a trade. I'm going to look at adding the D1 Genesis Matrix to the H4 chart as extra filtering, as I stated in the post above, to see if that has a positive effect. I'm going to look at reducing my exposure per trade because of the amount of potential setups I'm seeing. Any advise you can give would be gratefully received.
Hiya Steve,

No need to apologise, life is important!!

I can't offer much help with your H4 trading....I do look at the H4 charts every day, but usually just for personal analysis reasons over the longer term. I do see some great runs on that TF, but I also see a lot of whipping around where you would get stopped. Of course those same moves on a smaller TF are easy and profitable to trade. I guess H4 trading is (excuse the pun) a trade off between convenience/relaxed/less screen time trading, and consistent daily profits with high screen time. For sure, when the H4 gets you into a good run, it could be immensely profitable, especially if you are able (and willing) to scale in additional positions.

I do have a couple of ideas that I'd like to test and if they look good I'll share them....what currency pairs do you prefer? I see that EU has not been favourable for H4 trading for some time, due to the crap range we've been stuck in, and that could get expensive (in SL hits) if you were to persist. I guess that's the archilles heel of H4 trading.......
Doing what you like is Freedom. Liking what you do is Happiness.
  • #13,426
  • May 16, 2013 7:07pm May 16, 2013 7:07pm
Short
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Do not be afraid to make mistakes, be afraid to repeat them.
  • #13,427
  • May 16, 2013 10:29pm May 16, 2013 10:29pm
Quoting JasonDeaN
Short {image}
EJ also moved during Tokyo session with better DP location. Like RJ said recently, Asian session has been fertile but is not classical Genesis trading time and difficult to catch from other parts of the planet.
What the mind does not know, the eyes cannot see
  • #13,428
  • May 16, 2013 11:32pm May 16, 2013 11:32pm
Quoting realjumper
{quote} Hiya Steve, No need to apologise, life is important!! I can't offer much help with your H4 trading....I do look at the H4 charts every day, but usually just for personal analysis reasons over the longer term. I do see some great runs on that TF, but I also see a lot of whipping around where you would get stopped. Of course those same moves on a smaller TF are easy and profitable to trade. I guess H4 trading is (excuse the pun) a trade off between convenience/relaxed/less screen time trading, and consistent daily profits with high screen...
Hi RJ,

The pairs I like to trade most are EUR/USD - GBP/USD - AUD/USD - USD/CHF - USD/CAD - NZD/USD

I find the EUR/GBP a bit sluggish, been expensive this week (-1R),

I'm trying hard to get better at trading the USD/JPY - EUR/JPY - AUD/JPY pairs you have to time your entry just right or they'll have you for breakfast.

When the markets are in a tight range it's very difficult to trade H4 it's in times like that when you have to be able to distinguish a good setup from a bad one, this part I'm still learning.
  • #13,429
  • May 16, 2013 11:35pm May 16, 2013 11:35pm
Quoting kosmo
{quote} That EU short was a really nice trade. Congrats, Steve! I saw the setup, but didn't take it eventually (newbie hesitation syndrome). Fingers crossed for the USDCAD trade too Thank you for posting.
Hi Kosmo,

Thanks, the USD/CAD took me out at BE +2 pips I've no trades running at the moment.
  • #13,430
  • May 16, 2013 11:42pm May 16, 2013 11:42pm
took GJ instead of UJ
Don't give up
  • #13,431
  • May 16, 2013 11:43pm May 16, 2013 11:43pm
Quoting JasonDeaN
Short {image}
Never go against the general trend of the market if you want to bank more than few pips, or take less losses.
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  • #13,432
  • May 17, 2013 12:15am May 17, 2013 12:15am
Quoting geomink
took GJ instead of UJ

out with only 4 pips gain, after 29 pips gain ................. no words ................
Don't give up
  • #13,433
  • May 17, 2013 12:26am May 17, 2013 12:26am
  •  Jamz
  • | Joined May 2012 | Status: Tops and bottoms are for bikinis | 798 Posts
Quoting geomink
{quote} out with only 4 pips gain, after 29 pips gain ................. no words ................
I think you can expect this at present with a lot of currencies at crucial levels, either new highs or back to longer term supports....and it's Friday..
  • #13,434
  • May 17, 2013 12:41am May 17, 2013 12:41am
Quoting Jamz
{quote} I think you can expect this at present with a lot of currencies at crucial levels, either new highs or back to longer term supports....and it's Friday..
easy to say, after it happens
Don't give up
  • #13,435
  • May 17, 2013 12:47am May 17, 2013 12:47am
Quoting geomink
{quote} out with only 4 pips gain, after 29 pips gain ................. no words ................

and the cross goes up again 20 pips, after hitten sl ..............................
Don't give up
  • #13,436
  • May 17, 2013 12:55am May 17, 2013 12:55am
CT long
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Don't give up
  • #13,437
  • May 17, 2013 1:03am May 17, 2013 1:03am
missed
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Don't give up
  • #13,438
  • May 17, 2013 1:03am May 17, 2013 1:03am
Quoting stevepatt
{quote} Hi RJ, The pairs I like to trade most are EUR/USD - GBP/USD - AUD/USD - USD/CHF - USD/CAD - NZD/USD I find the EUR/GBP a bit sluggish, been expensive this week (-1R), I'm trying hard to get better at trading the USD/JPY - EUR/JPY - AUD/JPY pairs you have to time your entry just right or they'll have you for breakfast. When the markets are in a tight range it's very difficult to trade H4 it's in times like that when you have to be able to distinguish a good setup from a bad one, this part I'm still learning.
Ok...let me have the weekend to have a look and see if anything jumps out at me......
Doing what you like is Freedom. Liking what you do is Happiness.
  • #13,439
  • May 17, 2013 1:08am May 17, 2013 1:08am
Quoting geomink
CT long {image}
Pay attention you are trading against a strong short trend.
  • #13,440
  • May 17, 2013 1:10am May 17, 2013 1:10am
  •  Jamz
  • | Joined May 2012 | Status: Tops and bottoms are for bikinis | 798 Posts
Quoting geomink
{quote} easy to say, after it happens
Well, this is before anything happens -- you must scroll through a few HTF charts and just have a peep to see what I mean. A lot of the JPY crosses are right up there now and may consolidate as they say or become choppy. The GBP is on support and the $US is a skyrocket. -- big drivers of everything else around.
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