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Genesis Matrix Trading

  • #13,801
  • May 23, 2013 1:28am May 23, 2013 1:28am
Quoting kosmo
{quote} Thx Kelly, and please accept my delayed congrats on your first V!
Thankyou . RJ thinks its in lieu of the Pradas ... but he doesn't know any better lol
.... laughing all the way to the bank
  • #13,802
  • May 23, 2013 1:29am May 23, 2013 1:29am
Quoting kosmo
Morning/evening all, Long EU +18. Not the safest of entries (LO and CT), the signal looked good though, plus divergence on m15 stoch. Suffice to look at the chart now... but I'm not risking anymore. {image}
I'm in that trade too Jo.....I got in a little earlier than you and I'm hanging in there until the pivot. It's a free trade now so it's all good
Doing what you like is Freedom. Liking what you do is Happiness.
  • #13,803
  • May 23, 2013 1:33am May 23, 2013 1:33am
Quoting padila
EJ moved so much during Asian session, wonder whether there will be any steam left for London.
Yes !!
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #13,804
  • May 23, 2013 1:35am May 23, 2013 1:35am
10 pips eurjpy
Attached Image (click to enlarge)
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  • #13,805
  • May 23, 2013 1:38am May 23, 2013 1:38am
Quoting itsallover
{quote}Thankyou . RJ thinks its in lieu of the Pradas ... but he doesn't know any better lol
Oh, he can't be that mean! Besides, P/V is not the currency we trade here
mind over matter
  • #13,806
  • May 23, 2013 1:40am May 23, 2013 1:40am
Quoting realjumper
{quote} I'm in that trade too Jo.....I got in a little earlier than you and I'm hanging in there until the pivot. It's a free trade now so it's all good
Ok, RJ. So I'm taking back everything I said about the not so safe entry. You win!
mind over matter
  • #13,807
  • May 23, 2013 1:48am May 23, 2013 1:48am
Quoting kosmo
Morning/evening all, Long EU +18. Not the safest of entries (LO and CT), the signal looked good though, plus divergence on m15 stoch. Suffice to look at the chart now... but I'm not risking anymore. {image}
Grats on that trade! I took the long on GU and exited when price stalled at the RN. EU was heading towards the resistance cluster (2900+DP) because it was unobstructed before that, but it also stalled at some point and if I were in that trade, I would have aborted the second HA stopped drawing bullish candles...

While I was looking at EU/GU I missed the most high probability trade for this morning - UF was continuing the recent m15 drop. Something wrong with me

P.S: hindsight sure is a painful thing
Attached Image(s) (click to enlarge)
Click to Enlarge Name: UF.jpg Size: 115 KB
Click to Enlarge Name: GU.jpg Size: 116 KB
  • #13,808
  • May 23, 2013 1:56am May 23, 2013 1:56am
I wonder how Abe is feeling when he see's this 'bold' Yen retrace ......
Doing what you like is Freedom. Liking what you do is Happiness.
  • #13,809
  • May 23, 2013 1:58am May 23, 2013 1:58am
Quoting realjumper
{quote} Bias, expectations, and predictions are not welcome here......we are system traders. End of story. Ok?
Hi RJ - medium term lurker here. I was wondering if you could describe how you see the difference between a bias and trading with the trend?

I completely agree that expectations and predications are not helpful, but to me identifying a trend is the same as having a bias - or have I got it wrong.

Thanks
  • #13,810
  • May 23, 2013 2:17am May 23, 2013 2:17am
Quoting hollowhead
{quote} Hi RJ - medium term lurker here. I was wondering if you could describe how you see the difference between a bias and trading with the trend? I completely agree that expectations and predications are not helpful, but to me identifying a trend is the same as having a bias - or have I got it wrong. Thanks
Interesting question

We trade according the entry criteria of the system, plain and simple. We look for high probability trades, which is to say that we want as many indicators as we can have (within the system) to agree......and we would like it to be from a known s/r line or area.....and we would like it to be during the recognised 'good' times of the day for trading......and we would like it to be *with the trend*.

Trading with the trend is not so much a bias, it's just a sensible thing to do.

A bias is like: 'I see a bearish divergence so I'm looking for a short'....or....'the PA has reached a double top so I'm looking to go short here'......or......'yesterday ended with a shooting start formation so I'm looking for short entries'

All of the above examples make the person conditioned to look for short entries...that is his bias.....that is what he wants to see...what he expects to see. When the price goes 15 pips the other way, he thinks 'that's ok...that will give me a better place to enter short'.....then it goes 30 pips the other way, and he thinks, 'I didn't really expect that, but now I should get a short signal soon and what a great place to get in on. But it doesn't happen.....it goes another 20 pips the other way, and he's still looking for a short entry......but.....if he didn't have that short bias, he would have taken the 50 pips on offer for a long trade.

That's the danger of a bias.....us humans are conditioned to believe what we think will happen.....to our detriment. If you look around other threads you'll see statements like, 'When EU gets to 1.2700 I will go long there.' So the PA will go to 1.2700 and he will be looking *only* for a long entry, and by the time he concedes that he was wrong in his analysis, it might be too late to go short, and he missed a 100 pip opportunity.

That is bias. Trading with the trend is not really a bias, it's just a sensible thing to do
Doing what you like is Freedom. Liking what you do is Happiness.
  • #13,811
  • May 23, 2013 2:18am May 23, 2013 2:18am
Quoting hollowhead
{quote} Hi RJ - medium term lurker here. I was wondering if you could describe how you see the difference between a bias and trading with the trend? I completely agree that expectations and predications are not helpful, but to me identifying a trend is the same as having a bias - or have I got it wrong. Thanks
In short
A trend is something you can see and measure. It is there, on your charts.
A bias is just a wishfull thinking concerning future.
Enter Signature
  • #13,812
  • May 23, 2013 2:20am May 23, 2013 2:20am
Quoting WDays
{quote} Grats on that trade! I took the long on GU and exited when price stalled at the RN. EU was heading towards the resistance cluster (2900+DP) because it was unobstructed before that, but it also stalled at some point and if I were in that trade, I would have aborted the second HA stopped drawing bullish candles... While I was looking at EU/GU I missed the most high probability trade for this morning - UF was continuing the recent m15 drop. Something wrong with me P.S: hindsight sure is a painful thing {image} {image}
Thx WD. To make things worse (and make you feel better; wink wink), I had my SL already moved to BE+1 when the price stalled, so the trade was safe and a little patience would have given me double the profit I exited with. But I'm not going into the woulda shoulda coulda in order to stay sane. I'm happy with my profit!

P.S. Fight Club is one of my favourite movies. Love it!
mind over matter
  • #13,813
  • May 23, 2013 2:25am May 23, 2013 2:25am
Quoting realjumper
{quote} Interesting question We trade according the entry criteria of the system, plain and simple. We look for high probability trades, which is to say that we want as many indicators as we can have (within the system) to agree......and we would like it to be from a known s/r line or area.....and we would like it to be during the recognised 'good' times of the day for trading......and we would like it to be *with the trend*. Trading with the trend is not so much a bias, it's just a sensible thing to do.
Thanks RJ - I appreciate the clarification.
  • #13,814
  • May 23, 2013 2:31am May 23, 2013 2:31am
Morning all, compliments for the thread the system and the valuable group. I follow and read it since one month, I have made ​​some progress in my trading, but not enough, may be it will never be enough, anyway i would like to make a question to Realjumper. I need a clarification, when you talk about trend, ( trade with trend for a HPT), which trend are you talking about? M15, H1, H4 or D, i believe you talk about M15 and H1, but i'm not sure. I've seen you took a long on EU, so it confused me because of the strong down trend, could you tell me something about?
Sorry for my poor english
Thanks
Ciao. Luca
  • #13,815
  • May 23, 2013 2:39am May 23, 2013 2:39am
Quoting Lio46
Morning all, compliments for the thread the system and the valuable group. I follow and read it since one month, I have made ​​some progress in my trading, but not enough, may be it will never be enough, anyway i would like to make a question to Realjumper. I need a clarification, when you talk about trend, ( trade with trend for a HPT), which trend are you talking about? M15, H1, H4 or D, i believe you talk about M15 and H1, but i'm not sure. I've seen you took a long on EU, so it confused me because of the strong down trend, could...
Kosmo took that trade, and I said that I was in on the same trade. Kosmo said the trade was CT (Counter Trend), and she is correct. You mentioned that that EU was in a "strong down trend", and you're correct......so you obviously know how to spot a trend and your question is answered by yourself
Doing what you like is Freedom. Liking what you do is Happiness.
  • #13,816
  • May 23, 2013 2:42am May 23, 2013 2:42am
Quoting realjumper
{quote} Kosmo took that trade, and I said that I was in on the same trade. Kosmo said the trade was CT (Counter Trend), and she is correct. You mentioned that that EU was in a "strong down trend", and you're correct......so you obviously know how to spot a trend and your question is answered by yourself
Ok thank you, no more confusion in my head, may be i should take a coffee
Ciao. Luca
  • #13,817
  • May 23, 2013 2:45am May 23, 2013 2:45am
Quoting Lio46
{quote}Ok thank you, no more confusion in my head, may be i should take a coffee
I had the same mess in my head regarding all that trend stuff. If you you search for Marty's posts (as RJ already answered) you will find some very valuable tips if you should take a CT signal.
  • #13,818
  • May 23, 2013 2:47am May 23, 2013 2:47am
Quoting Lio46
{quote}Ok thank you, no more confusion in my head, may be i should take a coffee
Coffee fixes most things known to man!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #13,819
  • May 23, 2013 2:48am May 23, 2013 2:48am
Quoting realjumper
{quote} Coffee fixes most things known to man!!
And everything else can be fixed with VODKA!
  • #13,820
  • May 23, 2013 2:51am May 23, 2013 2:51am
Quoting Cold_W
{quote} I had the same mess in my head regarding all that trend stuff. If you you search for Marty's posts (as RJ already answered) you will find some very valuable tips if you should take a CT signal.
Thank you Cold, i'll search, but at this stage i prefer trading only with trend, may be on day. By the way, what do you think about E/U short after DP rejection now? should we wait for M15 confirmation?
Ciao. Luca
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