Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

Additional Indicators for the Genesis Matrix Trading System 680 replies

Genesis Matrix Trading indicator 20 replies

Is there an EA about Genesis Matrix Trading? 2 replies

Genesis Matrix Journal 5 replies

Genesis Matrix Trading for Jforex 13 replies

Attachments: Genesis Matrix Trading
Exit Attachments

Genesis Matrix Trading

Quoting antantnz
{quote} Neither a newbie nor a professional ... in that interim phase and yes, not great at leaving trades to run when they go slow. I think that's both : a confidence thing (how confident am I that it was a strong entry afterall?) - it's easy to doubt yourself when nothing happens and also in the past those premature exits have often turned out to be right - but I think a lot of that was because they were bad entries in the first placeIt is definitely something I need to improve on though ... along with getting better at leaving winners to run....

The 'early exit syndrome' (lol) is a difficult one to overcome.....and you have the answer already...imo. The entry! If the entry is a little bit suspect....ie that you aren't quite sure if you should have entered or not, then that can lead to an early exit because you might be thinking to get out because you possibly shouldn't have entered to start with.

Another reason could be that you are over leveraged.

Another reason could be lack of confidence following several losses.

Another reason could be the thinking that '10 pips is better than nothing".......which could be true if the PA goes back......but could also lead to a further problem if the PA takes off for +60 right after you exit for +10!!

There are many possible reasons, but I think (imo) they all boil to to the classic 'fear and greed' problem that affects us all at some stage.

In your example, you needed to exit before to sleep....and that's fair enough...I would do the same thing....unless I was in a decent profit and then I might just lock in my target plus some profit and let it do it's thing while I sleep.

But....I think it boils down to the entry. If the entry is text book perfect, then I won't close the trade unless it *clearly* is going to reverse, which does happen every once in a while. Other than that though, I generally don't sit there watching it. I can't do anything, I have an emergency SL in place that am comfortable with, so I just try to forget about it and look for something else to trade....read this thread or something, go make coffee or whatever. I can't influence the PA, so let it be.....

Easier said than done I know!!
Doing what you like is Freedom. Liking what you do is Happiness.
Hi everybody, apologies for a rather useless post but I have to thank RJ for allowing me in, although honestly I don't think I deserve the honour.
That's why I won't be posting charts for now, I'm trying to overcome some very common personal problems before, one at a time (being lack of confidence in the entry and early exit some of them as acutely pointed by RJ)

My compliments to FOM for the trades and excellent lesson that constitutes post 15,934. (even if I still have to find out the reason for the exit on Trades 1&3, I mean they're perfect, but I don't see clear indications of exhaustion until a bit later)

I have to say I really love the new Genesis thread so far!!

Many many thanks to you all.
Good judgement comes from experience, experience comes from poor judgement
Hey, long time no posting.
Just entered CT on NU.
Rejection of S1 and that zone was hard to break in the past.

Could have waited for confirmation but didn't.

edit : I chose NU, because it feel like NZD has been dragged down by AUD over the last few days, plus USD not in very good shape this morning so we will see. Time is M5.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenShot019.jpg Size: 374 KB
Quoting realjumper
{quote} The 'early exit syndrome' (lol) is a difficult one to overcome.....and you have the answer already...imo. The entry! ...
Very wise words! It is definitely all too easy to switch to over-managing trades after a couple of losses ... even though I know, I know, I know that there will always be losses. Always!

And even though I am still demo-ing until I'm rock solid, the virtual $ still feel real. It really is the fear & greed combo.

Note to self - if the entries are strong, the rest will follow.
1 pip at a time ... if the entries are strong, the rest will follow ...
UK Services PMI 56.9 !!!!!
I am a fallible imperfect person; so I must be a fallible imperfect trader.
Quoting realjumper
{quote} The 'early exit syndrome' (lol) is a difficult one to overcome.....and you have the answer already...imo. The entry! ............ Easier said than done I know!!
Great post! So true!

A last thought conserning arrows or "tools" in general.

As we saw Fame of Me took four trades in one pair within just a few hours.
How many can do that or want to do that?
I recall having taken 13 trades in one pair during one day (M1 of course)
On the other hand RJ took 13 trades during previous week watching 8 pairs!!!!

I believe selectivity is very important for every trader especially the new ones.

My point is that if you are looking for 10-15 good trades per week, there is no harm to have
a few extra "tools" on your favour. You are going to have plenty of opportunities.

On the other hand if you are trading without a good understanding of what FOM and RJ commented,
"tools" are not going to save you.
Enter Signature
Quoting Martyfish
UK Services PMI 56.9 !!!!!
Very quick 50 pips (or more) for anyone already long
mind over matter
Quoting kosmo
{quote} Very quick 50 pips (or more) for anyone already long

Now that was very nice GU pre-news fake out !!
I am a fallible imperfect person; so I must be a fallible imperfect trader.
Quoting Martyfish
{quote} Now that was very nice GU pre-news fake out !!
Are you sure it was a fake out, Marty? It looks more like a firm reversal off of y's low to me. The USD index is dropping too...
mind over matter
Quoting antantnz
{quote} Very wise words! It is definitely all too easy to switch to over-managing trades after a couple of losses ... even though I know, I know, I know that there will always be losses. Always! And even though I am still demo-ing until I'm rock solid, the virtual $ still feel real. It really is the fear & greed combo. Note to self - if the entries are strong, the rest will follow.
I think it was Olivia who said, 'after you have made your entry, take a screenshot of it and ask yourself this: Am I proud enough of this entry to post the shot to the forum? If the answer Yes, absolutely....then the entry was probably a good one. If the answer is, hmm...not really, then you have your answer.'

I often use that just before I enter and sometimes it keeps me out of a stupid, or wishful thinking entry. What might look good in a moment of 'entry frenzy', suddenly doesn't look so good after a couple of minutes!
Doing what you like is Freedom. Liking what you do is Happiness.
Quoting jurtzi
Hi everybody, apologies for a rather useless post but I have to thank RJ for allowing me in, although honestly I don't think I deserve the honour. That's why I won't be posting charts for now, I'm trying to overcome some very common personal problems before, one at a time (being lack of confidence in the entry and early exit some of them as acutely pointed by RJ) My compliments to FOM for the trades and excellent lesson that constitutes post 15,934. (even if I still have...

Trade 1 exit: i closed manuell, was almost 100pips, for me jackpot on M5
Trade 3 exit: the last high from prev day
Quoting Marviin
Hey, long time no posting. Just entered CT on NU. Rejection of S1 and that zone was hard to break in the past. Could have waited for confirmation but didn't. edit : I chose NU, because it feel like NZD has been dragged down by AUD over the last few days, plus USD not in very good shape this morning so we will see. Time is M5. {image}
Your CT trade paid
Doing what you like is Freedom. Liking what you do is Happiness.
Quoting antantnz
{quote} Neither a newbie nor a professional ... in that interim phase and yes, not great at leaving trades to run when they go slow. ..
what difference does it make - slow or fast?
Quoting Marviin
Hey, long time no posting. Just entered CT on NU. Rejection of S1 and that zone was hard to break in the past. Could have waited for confirmation but didn't. edit : I chose NU, because it feel like NZD has been dragged down by AUD over the last few days, plus USD not in very good shape this morning so we will see. Time is M5. {image}
Nice CT. Congrats
Quoting realjumper
{quote} Your CT trade paid
Actually once i was @ +15-20 pips, as it was counter trend and don't wanted to take risks, I put the stop loss @ BE+1. Just to see it being hit by 0.5 pips .
Of course it went up just after ..
Quoting Marviin
{quote} Actually once i was @ +15-20 pips, as it was counter trend and don't wanted to take risks, I put the stop loss @ BE+1. Just to see it being hit by 0.5 pips . Of course it went up just after ..
Damn!!! You probably did the right thing though seeing as it was a CT and the bear run has been pretty strong. There might be another opportunity coming on that depending on what happens at the DP....if it gets there
Doing what you like is Freedom. Liking what you do is Happiness.
Before my morningstress was starting, i jump in the sell below:

Attached Image (click to enlarge)
Click to Enlarge Name: GJm5.png Size: 16 KB


GJ m5

already set BE. Hopefully my lover go down again to the yesterday low.
Quoting Fame of me
Before my morningstress was starting, i jump in the sell below: {image} GJ m5 already set BE. Hopefully my lover go down again to the yesterday low.
That's a good entry on the M5........I am still taking M15 trades but I saw that one and I just knew you'd take it!
Doing what you like is Freedom. Liking what you do is Happiness.
Quoting Fame of me
Before my morningstress was starting, i jump in the sell below: {image} GJ m5 already set BE. Hopefully my lover go down again to the yesterday low.
Stupid girl forgot the news.
The Newsspike put me put out with BE +6
My Eur Aud trade this morning

Counter Trade, but the PA was in the area where it has faced strong resistance before,

M5 Falling from OB
M15 Falling from OB

+50 Pips
Attachment 1225952

Edit: I have used the same settings on my original template, I forgot to make changes in the posting template for which I am really very sorry, I have edited the chart now
Attached Image (click to enlarge)
Click to Enlarge Name: euraud.png Size: 36 KB
In Love with Genesis
1 trader viewing now