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Genesis Matrix Trading

  • #13,661
  • May 21, 2013 4:43am May 21, 2013 4:43am
Quoting castlebrook
{quote} Hi RJ, great thread. Do you ever consider a partial exit? Take half off at your 27 pips and let the other half run?
You certainly could do that, I never do though. No reason for it, I just don't do it!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #13,662
  • May 21, 2013 4:47am May 21, 2013 4:47am
Quoting WDays
{quote} Thanks for the advice, I try to do just that and avoid checking my profit in $$ at all cost, but sometimes its stronger than me. I'm struggling with the part where I have to trail my SL to b/e+1 when I'm in a CT trade, or I'm scalping a quick 10-15 pips right below a resistance/above a support. If I move it too soon, its bound to get hit, if I dont move it at all... well I have had this happen to me in the past, be in a decent profit, target missed by 1 pip and move reverses until my 5 pips SL and a winner turns into a loser for no reason....
I think you know the answer to your dilemma.....don't counter trend trade! I know that I do it sometimes, but honestly, it's not that often. I'm more likely to sit out the CT and wait for the trend to resume. I'd rather take 1 trade in a day and have that one trade give me 50 pips or more, than have 7 trades that give me 50 pips.....including 2 losers, 4 BE's and I winner!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #13,663
  • May 21, 2013 4:49am May 21, 2013 4:49am
Quoting realjumper
{quote} I think you know the answer to your dilemma.....don't counter trend trade! I know that I do it sometimes, but honestly, it's not that often. I'm more likely to sit out the CT and wait for the trend to resume. I'd rather take 1 trade in a day and have that one trade give me 50 pips or more, than have 7 trades that give me 50 pips.....including 2 losers, 4 BE's and I winner!!
  • #13,664
  • May 21, 2013 5:00am May 21, 2013 5:00am
Quoting realjumper
{quote} I think you know the answer to your dilemma.....don't counter trend trade! I know that I do it sometimes, but honestly, it's not that often. I'm more likely to sit out the CT and wait for the trend to resume. I'd rather take 1 trade in a day and have that one trade give me 50 pips or more, than have 7 trades that give me 50 pips.....including 2 losers, 4 BE's and I winner!!
Yeah, I did see that answer coming I don't do it often either, just that when I see an unobstructed path to the next S or R, a cheap SL and some momentum it feels okay to go CT.
  • #13,665
  • May 21, 2013 5:04am May 21, 2013 5:04am
Quoting WDays
{quote} Yeah, I did see that answer coming I don't do it often either, just that when I see an unobstructed path to the next S or R, a cheap SL and some momentum it feels okay to go CT.
Try this then......don't CT until you have made profit on the day already....hopefully with a 'normal' trade. Then, if you must CT, only risk todays winnings, and no more. That way, if it all turns to shit, you are no worse off than when you got out of bed on that day. If you don't already have profit today, then CT trades are not allowed!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #13,666
  • May 21, 2013 5:05am May 21, 2013 5:05am
Quoting realjumper
{quote} Try this then......don't CT until you have made profit on the day already....hopefully with a 'normal' trade. Then, if you must CT, only risk todays winnings, and no more. That way, if it all turns to shit, you are no worse off than when you got out of bed on that day. If you don't already have profit today, the CT trades are not allowed!
That actually sounds like a great idea Thanks, will do!
  • #13,667
  • May 21, 2013 5:13am May 21, 2013 5:13am
Quoting realjumper
{quote} Really?...are you sure? Many people use them and I would be surprised if there was no demo account available to USA residents. You may well be right, but it seems very strange...
Oops you're correct. I tried again and successfully opened a demo account at FxPro. The other day I tried a different link and was asked for country and United States was not listed.
  • #13,668
  • May 21, 2013 5:14am May 21, 2013 5:14am
Quoting realjumper
I hope the news doesn't upset my Kiwi trade...... {image}
BE +15 now
Doing what you like is Freedom. Liking what you do is Happiness.
  • #13,669
  • May 21, 2013 5:15am May 21, 2013 5:15am
Quoting jack h
{quote} Oops you're correct. I tried again and successfully opened a demo account at FxPro. The other day I tried a different link and was asked for country and United States was not listed.
Ahh...glad you got to the bottom of it
Doing what you like is Freedom. Liking what you do is Happiness.
  • #13,670
  • May 21, 2013 6:01am May 21, 2013 6:01am
Trade today on Gold over 100+ pips.
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  • #13,671
  • May 21, 2013 6:11am May 21, 2013 6:11am
G/U trade 60+ pips
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  • #13,672
  • May 21, 2013 6:16am May 21, 2013 6:16am
Shorted EU right below DP until atr low, closed a little prematurely, at 2850 again... Shit at least this time I held onto it longer I'm good for 14 pips... Could have been 24...
  • #13,673
  • May 21, 2013 6:18am May 21, 2013 6:18am
Moved EU to BE. Lets see how it will go
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Even though I walk through the darkest valley, I will fear no evil
  • #13,674
  • May 21, 2013 6:19am May 21, 2013 6:19am
Quoting realjumper
{quote} BE +15 now
Target met +48. Thanks mister market
Doing what you like is Freedom. Liking what you do is Happiness.
  • #13,675
  • May 21, 2013 6:19am May 21, 2013 6:19am
Quoting WDays
Shorted EU right below DP until atr low, closed a little prematurely, at 2850 again... Shit at least this time I held onto it longer I'm good for 14 pips... Could have been 24...
Doesn't matter what could have been...only matters what is!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #13,676
  • May 21, 2013 6:28am May 21, 2013 6:28am
Quoting realjumper
{quote} Target met +48. Thanks mister market
Congrats!

And yeah, shoulda woulda coulda... I'm getting there, slowly soon I'll have built enough profit not to care about SL anymore, and that's slowly making me more and more confident.
  • #13,677
  • May 21, 2013 6:34am May 21, 2013 6:34am
Quoting WDays
{quote} Congrats! And yeah, shoulda woulda coulda... I'm getting there, slowly soon I'll have built enough profit not to care about SL anymore, and that's slowly making me more and more confident.
You always should care about SL. You will get petitions with a time. We all have been exited about trades and had mistakes. But when time will pass it is another day
Even though I walk through the darkest valley, I will fear no evil
  • #13,678
  • May 21, 2013 6:48am May 21, 2013 6:48am
Quoting MKFXTrader
G/U trade 60+ pips {image}
Excellent trades.

Thanks for posting them.
What the mind does not know, the eyes cannot see
  • #13,679
  • May 21, 2013 6:49am May 21, 2013 6:49am
Quoting realjumper
{quote} Target met +48. Thanks mister market
Nice trade, RJ.
What the mind does not know, the eyes cannot see
  • #13,680
  • May 21, 2013 7:01am May 21, 2013 7:01am
Quoting padila
{quote} Nice trade, RJ.
Thanks. That is the sort of trade I look for, and I can wait as long as it takes for one to turn up....and on the 10 pairs I watch, one or more is probably going to turn up every day, and when it does, I'll be waiting for it. If nothing turns up, so be it! Many time I see people (not you) that seem to feel compelled to be in a trade because they are sitting at their desk, the market is open, and they *want* to trade.......even when there is no HPT on offer.

As I've said many times, if there is a 'holy grail' to trading, it must surely be "patience."
Doing what you like is Freedom. Liking what you do is Happiness.
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