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Genesis Matrix Trading

  • #16,201
  • Jul 15, 2013 4:43am Jul 15, 2013 4:43am
Quoting PipMonster1
EU M5 might be turning over to give us a sell signal under the DP.................we'll see....but yes a very quiet start.....time to cook dinner while nothing is happening...a nice rib fillet on the BBQ....mmmmm PM1
How did your EU trade go?.....still in it?
Doing what you like is Freedom. Liking what you do is Happiness.
  • #16,202
  • Jul 15, 2013 6:04am Jul 15, 2013 6:04am
Quoting realjumper
{quote} When I contemplate an exit, I have to have a reason to exit, just as I had to have a reason to enter. Where you exited, I see no valid reason to exit at all.
I totally agree with you. This is what I need to pratice/test. Let the runner run and cut short the loser! I need to enter a position and say to myself, when +15, +20 into a trade who could possibily go to 40-50, or to any near pivot, that by moving my SL to BE, I lose nothing.

Nikz - Good trades! You did a nice harvesting today

Malouin
Slowly, but surely...
  • #16,203
  • Jul 15, 2013 6:04am Jul 15, 2013 6:04am
Quoting realjumper
{quote} How did your EU trade go?.....still in it?
Stopped out at +38. Not bad but a very slow trade.....was looking for a target beyond S1.... but realised too late that it hit yesterday's low which looks to have stopped the fun....need to keep an eye on these things.

PM1
  • #16,204
  • Jul 15, 2013 6:05am Jul 15, 2013 6:05am
Quoting PipMonster1
{quote} Stopped out at +38. Not bad but a very slow trade.....was looking for a target beyond S1.... but realised too late that it hit yesterday's low which looks to have stopped the fun....need to keep an eye on these things. PM1
That's still a good result on a strange day for EU....nice
Doing what you like is Freedom. Liking what you do is Happiness.
  • #16,205
  • Jul 15, 2013 6:10am Jul 15, 2013 6:10am
Quoting realjumper
{quote} That's still a good result on a strange day for EU....nice
A strange day indeed. Hey, pips are pips and they are now mine and not Mr Banks.

PM1
  • #16,206
  • Jul 15, 2013 6:12am Jul 15, 2013 6:12am
Quoting Malouin
{quote} I totally agree with you. This is what I need to pratice/test. Let the runner run and cut short the loser! I need to enter a position and say to myself, when +15, +20 into a trade who could possibily go to 40-50, or to any near pivot, that by moving my SL to BE, I lose nothing. Nikz - Good trades! You did a nice harvesting today Malouin
Yep....it's a mental thing really. None of us like seeing a trade go backwards and seeing our profit diminish....but....if we're going to 'let the winners run', we have to have the right mindset. I don't like to see a +25 trade go back to BE +1....but I smile and say to myself, 'well, that's one more than I started with, and if the trade had gone to 100, I would have been right there too.'

Just takes a bit of practice...you'll get there
Doing what you like is Freedom. Liking what you do is Happiness.
  • #16,207
  • Jul 15, 2013 6:16am Jul 15, 2013 6:16am
Quoting realjumper
{quote} Yep....it's a mental thing really. None of us like seeing a trade go backwards and seeing our profit diminish....but....if we're going to 'let the winners run', we have to have the right mindset. I don't like to see a +25 trade go back to BE +1....but I smile and say to myself, 'well, that's one more than I started with, and if the trade had gone to 100, I would have been right there too.' Just takes a bit of practice...you'll get there
As we are running stops in the vicinity of 15-25pips at entry you have to sit on those hands and let the PA do its thing and get you out to those +40 to +100. The R:R is not there otherwise and you will eventually kill your account.

PM1
  • #16,208
  • Jul 15, 2013 6:19am Jul 15, 2013 6:19am
Quoting PipMonster1
{quote} As we are running stops in the vicinity of 15-25pips at entry you have to sit on those hands and let the PA do its thing and get you out to those +40 to +100. The R:R is not there otherwise and you will eventually kill your account. PM1
Yep....we have to understand that we won't win every time, but we can win 70%+ with a bit of patience and practice
Doing what you like is Freedom. Liking what you do is Happiness.
  • #16,209
  • Jul 15, 2013 6:45am Jul 15, 2013 6:45am
Quoting PipMonster1
{quote} As we are running stops in the vicinity of 15-25pips at entry you have to sit on those hands and let the PA do its thing and get you out to those +40 to +100. The R:R is not there otherwise and you will eventually kill your account. PM1

The R:R would be a lot better doing this! This is my next goal for the following month. My first month of test was using a simple 1:1 risk ratio with a fix TP and doing maximum 1 trade per day per pairs (USDCAD,USDCHF,NZDUSD,AUDUSD,EURUSD,GBPUSD). The one I hate the most right now is NU ( Sorry RJ ). It alway seem to reverse on me! But I will get there! Slowly, but surely...

Malouin
Slowly, but surely...
  • #16,210
  • Jul 15, 2013 6:57am Jul 15, 2013 6:57am
Quoting Malouin
{quote} The R:R would be a lot better doing this! This is my next goal for the following month. My first month of test was using a simple 1:1 risk ratio with a fix TP and doing maximum 1 trade per day per pairs (USDCAD,USDCHF,NZDUSD,AUDUSD,EURUSD,GBPUSD). The one I hate the most right now is NU ( Sorry RJ ). It alway seem to reverse on me! But I will get there! Slowly, but surely... Malouin
No offence taken Malouin.....lol...our reserve bank governor is a real idiot....he's got delusions of grandeur I think and he's making some pretty stupid moves that aren't impressing anyone except the bankers. The govt is not impressed either so I shouldn't be surprised if the Kiwi remains volatile for some time yet......China is also an issue for our currency too. I'm not trading the Kiwi or the Aussie for now!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #16,211
  • Jul 15, 2013 7:02am Jul 15, 2013 7:02am
Quoting realjumper
our reserve bank governor is a real idiot....he's got delusions of grandeur I think and he's making some pretty stupid moves that aren't impressing anyone except the bankers.
Speaking of bank governor! I'm looking forward to Mark Carney about the bank of England! He did a good job up here in Canada and I wish he will be able to fix the situation there, even if the situation in itself can't be fix simply lol....
Slowly, but surely...
  • #16,212
  • Jul 15, 2013 8:00am Jul 15, 2013 8:00am
Just an FYI post

The China quarterly GDP release today was forecast at 7.7% on Forex Factory's calendar, but 7.5% on FXStreet's calendar. So I learnt my lesson to take a look at a couple of websites to compare the expected data, as this did have an impact for today's trading (if anyone was here for the Tokyo open). The actual number came in at 7.5%, which if you used the forecast of 7.5% you may have leaned towards poor data as expected out, potentially sequentially low met, and eg AUD may have some up leg. Which is probably what happened, except of course the data was leaked early and the AUD started to move 5 minutes early. If you had used Forex Factory's 7.7%, then you may have thought it was a reasonably significant miss (given how China manages its data release), with the potential for downside on AUD.

Not that we're trying to introduce bias or trade purely on data release, or say one calendar is better than the other, but it's worth having a look at a couple of calendars just to be sure.
  • #16,213
  • Jul 15, 2013 2:41pm Jul 15, 2013 2:41pm
Hi to everybody and thanks to RJ and the team for inviting me into the thread
My first post is a bit of an embarrassment but for the greater good of the newer followers, as it reinforces RJs mantra that GMX is NOT a signal service

I took this trade because price had broken through DP, signal arrows at higher highs, both matrix looking good - despite stochs being over bought (I've had good trades on higher T/Fs where stoch has stayed over bought/sold for days)

The obvious mistakes:
1. Opened position just before London Open
2. Not familiar w pair, don't usually trade N/U
3. Didn't look left. (see RJs stochs video post on page 1. and watch it over and over) A zoom out to higher T/Fs showed price was in a bear trend. What I read as an up trend was nothing more than a pullback.
4. Used DP as a S/R zone.....which in my book it isn't. (stand to be corrected)

Laptop doesnt want to upload screenshot so have attached pic
Next post is a recovery trade

Cheers J.
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Winning isnt everything but coming second sucks (Charlie Brown)
  • #16,214
  • Jul 15, 2013 2:54pm Jul 15, 2013 2:54pm
Ok so here is a recovery trade I took just after the horror of the last poor trade.

I didnt ignore the oversold stochs, I just knew where price was heading after the last trade......................to the S/R zone, and the Matrix information was very convincing.

I would have stayed in the trade down to the S/R but it was late (NZ time) and I had an early start next morning.
Im having a break from setting take profits and exiting manually as Im having a run of missing out on T/Ps by a pip or two and price reversing.......as it did very clearly at the S/R zone.
There were another 25 pips + on offer but I was pleased enough to recoup the majority of the loss in the previous trade.

I hope this adds value to the thread
Cheers J.
Attached Image (click to enlarge)
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Winning isnt everything but coming second sucks (Charlie Brown)
  • #16,215
  • Jul 15, 2013 5:52pm Jul 15, 2013 5:52pm
Quoting jjre65
Ok so here is a recovery trade I took just after the horror of the last poor trade. I didnt ignore the oversold stochs, I just knew where price was heading after the last trade......................to the S/R zone, and the Matrix information was very convincing. I would have stayed in the trade down to the S/R but it was late (NZ time) and I had an early start next morning. Im having a break from setting take profits and exiting manually as Im having a run of missing out on T/Ps by a pip or two and price reversing.......as it did very clearly at...
Great posts and analysis...thank you. We all make these mistakes from time to time....we wouldn't be human if we didn't! Sometimes we forget the lessons we learned in the past, and we have to make the mistake again in order to remember. All part of life, as well as part of trading.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #16,216
  • Jul 15, 2013 5:58pm Jul 15, 2013 5:58pm
Exemption applications are now closed for a little while

We have processed a lot of applications for exemptions and it's nice that there is still so much interest in the Genesis Matrix trading system. Most people have been approved, and those that missed out this time can re-apply next time we open the books. In the meantime, those that missed out can still read the thread and learn more about the system and this will be good for them for the next time they apply.

There is still a small group who we will process tonight and tomorrow and they will be notified of the outcome very soon.

RJ
Doing what you like is Freedom. Liking what you do is Happiness.
  • #16,217
  • Jul 16, 2013 12:44am Jul 16, 2013 12:44am
Quoting jjre65
Ok so here is a recovery trade I took just after the horror of the last poor trade. I didnt ignore the oversold stochs, I just knew where price was heading after the last trade......................to the S/R zone, and the Matrix information was very convincing. I would have stayed in the trade down to the S/R but it was late (NZ time) and I had an early start next morning. Im having a break from setting take profits and exiting manually as Im having a run of missing out on T/Ps by a pip or two and price reversing.......as it did very clearly at...
Nice one.
PA has been challenging the past few days so good to see you got some pips back from the market
.... laughing all the way to the bank
  • #16,218
  • Jul 16, 2013 12:51am Jul 16, 2013 12:51am
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I found these videos a real help
.... laughing all the way to the bank
  • #16,219
  • Jul 16, 2013 12:52am Jul 16, 2013 12:52am
  •  Jamz
  • | Joined May 2012 | Status: Tops and bottoms are for bikinis | 798 Posts

  1. Post# 1
  2. First Post: Jul 16, 2012 6:40pm

Sorry to be an hour late but HAPPY ANNIVERSARY FOR THE THREAD!!!!

  • #16,220
  • Edited 1:54am Jul 16, 2013 12:53am | Edited 1:54am
GJ Fast +30Pips before DP close automatic.
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