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Genesis Matrix Trading

  • #13,761
  • Edited 7:46am May 22, 2013 7:34am | Edited 7:46am
Quoting WDays
{quote} So I was right? Judging by the drop I think I was. Traders selling USD off out of fear that QE gets tapered? Which, as they reiterated several times now won't be happening yet, because U.S economy is still weak. I'm staying out because my broker gives me gaps and I don't feel like losing money stupidly, so I'll just wait for this whole thing to be over, before going short...
Better to stay out til he stops yapping. Should be like an hour from now.
  • #13,762
  • May 22, 2013 7:42am May 22, 2013 7:42am
Quoting MKFXTrader
{quote} It's just a knee jerk reaction from retail traders. If you look at the candles, you'll see there are alot of selling into the move higher on most pairs. News allows market makers to move price in order to facilitate large orders into the move. Meaning-Institutional money is selling into the knee jerk move higher. Classic play. Institutional money is going against retail traders. Duh...Look at PA now.
I am agree that was reaction to the news. Fast move, fast pips.
Even though I walk through the darkest valley, I will fear no evil
  • #13,763
  • May 22, 2013 7:43am May 22, 2013 7:43am
Quoting monocor
{quote} I am agree that was reaction to the news. Fast move, fast pips.
Could have been bad
  • #13,764
  • May 22, 2013 7:45am May 22, 2013 7:45am
Quoting MKFXTrader
{quote} Better to stay out til he starts yapping. Should be like an hour from now.
Yep, it's what I'm planning on doing... If this thing works the same as NFP, where increase in payroll pushes the dollar up only for price to close as low as it used to be before the data, 2 hours after it has come out, I'd hate to be on the short side
  • #13,765
  • May 22, 2013 8:13am May 22, 2013 8:13am
Quoting MKFXTrader
{quote} No I cannot. Everything is on the first page. Seems like you haven't even read the first post much less the thread at all.
Not. Only I don't now what is the second indicator. Sorry
  • #13,766
  • May 22, 2013 8:14am May 22, 2013 8:14am
I bit the bullet and shorted AU. Terrible spread though.
.... laughing all the way to the bank
  • #13,767
  • May 22, 2013 8:18am May 22, 2013 8:18am
Quoting itsallover
I bit the bullet and shorted AU. Terrible spread though.
GL
  • #13,768
  • May 22, 2013 8:29am May 22, 2013 8:29am
In order to sell there has to be buyers, price had to go up first. There was divergence on h1, so I was expecting a move down. But there was a set up for long at the moment. Sl was small I took the risk. What I can say gamble
Even though I walk through the darkest valley, I will fear no evil
  • #13,769
  • May 22, 2013 8:32am May 22, 2013 8:32am
Quoting MKFXTrader
{quote} GL
Thankyou ... out already
.... laughing all the way to the bank
  • #13,770
  • May 22, 2013 8:33am May 22, 2013 8:33am
Quoting monocor
In order to sell there has to be buyers, price had to go up first. There was divergence on h1, so I was expecting a move down. But there was a set up for long at the moment. Sl was small I took the risk. What I can say gamble

... which currency pair are you referring to ?
.... laughing all the way to the bank
  • #13,771
  • May 22, 2013 8:50am May 22, 2013 8:50am
I'm left kind of confused after everything I heard and saw the way the market reacted. A tapering of QE is dollar bullish because... it means the economy is doing better? But then he said they're considering it only if data keeps improving, which means market is reacting prematurely?

More lost than before, please help Sorry for wasting your time with stupid questions, just not that great with the way market reacts to fundamentals, need to re-read High Probability Trading...
  • #13,772
  • May 22, 2013 9:41am May 22, 2013 9:41am
Quoting itsallover
{quote} ... which currency pair are you referring to ?
EU
Even though I walk through the darkest valley, I will fear no evil
  • #13,773
  • May 22, 2013 9:53am May 22, 2013 9:53am
Quoting monocor
{quote} EU
... perfect rejection of R2.
.... laughing all the way to the bank
  • #13,774
  • May 22, 2013 11:18am May 22, 2013 11:18am
Last trade for the day. Gold good for +250 full pips. Overall 350+ pips today on Gold, G/U and E/J. Crude hit B/E after initially being up like around 40 pips. All trades were "HPT". No losing trades. Thank you Mr Market and Genesis.. Good nite all. GL in Asian session...
Attached Image (click to enlarge)
Click to Enlarge Name: XAU-USD.jpg Size: 134 KB
  • #13,775
  • May 22, 2013 11:28am May 22, 2013 11:28am
Quoting MKFXTrader
Last trade for the day. Gold good for +250 full pips. Overall 350+ pips today on Gold, G/U and E/J. Crude hit B/E after initially being up like around 40 pips. All trades were "HPT". No losing trades. Thank you Mr Market and Genesis.. Good nite all. GL in Asian session... {image}
Well done MFT
.... laughing all the way to the bank
  • #13,776
  • May 22, 2013 11:56am May 22, 2013 11:56am
Quoting MKFXTrader
Last trade for the day. Gold good for +250 full pips. Overall 350+ pips today on Gold, G/U and E/J. Crude hit B/E after initially being up like around 40 pips. All trades were "HPT". No losing trades. Thank you Mr Market and Genesis.. Good nite all. GL in Asian session... {image}
Excellent trading, MK!

I know I said it earlier today, many thanks for posting the charts.

Really good Genesis signals and good ASCTrend line ups.
What the mind does not know, the eyes cannot see
  • #13,777
  • May 22, 2013 4:52pm May 22, 2013 4:52pm
hello everybody, great thread! thanks to all! does anybody trade the 1Min chart? experiences?
thanks again, mex
  • #13,778
  • May 22, 2013 4:55pm May 22, 2013 4:55pm
Quoting Ferod
{quote} Not. Only I don't now what is the second indicator. Sorry
The indicators you need are in the zip file on Post #1
Doing what you like is Freedom. Liking what you do is Happiness.
  • #13,779
  • May 22, 2013 5:03pm May 22, 2013 5:03pm
Quoting monocor
There was divergence on h1, so I was expecting a move down.
You have to get out of that habit, because it will do you no good, either for your long term life on this thread, or you long term life on the FX market.

When you see that H1 divergence, it's good to bear it in mind as an *additional* reason to enter a short once you have all the other indications in place. If the system tells you to enter short, *and* you have a bearish divergence, then that's great.....but the short is valid with or without the divergence.

When you *expect* a move down because you see a divergence, you have a bias. Just about every other thread at FF works on bias, and expectations, and predictions......but *not* this thread, and *not* this system. Bias, expectations, and predictions are not welcome here......we are system traders. End of story. Ok?
Doing what you like is Freedom. Liking what you do is Happiness.
  • #13,780
  • May 22, 2013 5:15pm May 22, 2013 5:15pm
Quoting WDays
I'm left kind of confused after everything I heard and saw the way the market reacted. A tapering of QE is dollar bullish because... it means the economy is doing better? But then he said they're considering it only if data keeps improving, which means market is reacting prematurely? More lost than before, please help Sorry for wasting your time with stupid questions, just not that great with the way market reacts to fundamentals, need to re-read High Probability Trading...
Understanding what is going to happen on the market after some suit has finished yappin really is a crap shoot. For that reason I don't try to decipher what the suit is yappin about and what it means. It's good that we know that this high impact news is coming because we can get out of the way of the madness and not get (financially) hurt......but trying to trade those events is crazy, imo.

Our income comes from the boring day to day movement of the market, and we have a system that is very good at helping us enter at the right time. If we were trading the news, and if we got it right, we would have a nice little bonus. However, if we get it wrong, we can do some serious damage to our accounts because in a sudden move, your SL will suffer terrible slippage and spreads will widen, sometimes considerably.

So lets assume that we trade such events, and lets assume that we get it right half the time.......the bonus pips are good, and that would happen what, once or twice a week? Offset that against the ones we get wrong, and suddenly the bonus pips don't look so good. Now have a look at the pips we make every day in the boring market as a result of patience and a good system. The boring pips by far outweigh the 'news' pips. do they not?

So.....is the stress and increased blood pressure etc worth it? For me, no......it's not worth it. I would rather have a cup of coffee and see what the charts look like after all the nonsense has died down.
Doing what you like is Freedom. Liking what you do is Happiness.
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