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Genesis Matrix Trading

  • #16,301
  • Jul 19, 2013 2:51am Jul 19, 2013 2:51am
Quoting realjumper
{quote} Looks like London is having a go at pushing your EJ long for you......
Yeah, and it's a little discouraging...But have to stay calm and look for new opportunities.
  • #16,302
  • Jul 19, 2013 2:59am Jul 19, 2013 2:59am
Quoting Cold_W
{quote} Yeah, and it's a little discouraging...But have to stay calm and look for new opportunities.
What I said before still stands.....but....if you had have left your trade alone, your SL would not have been hit. Easy to be wise with hindsight of course......

I'm looking at EA to go south at the moment, but it needs a push from some big bear!! Because I'm on the last day of M15 trading, I might have to wait for M15 to show a signal for EA but we shall see....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #16,303
  • Jul 19, 2013 3:05am Jul 19, 2013 3:05am
+42 Pips its still open but I going to close. Im not good about exit.
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  • #16,304
  • Jul 19, 2013 3:08am Jul 19, 2013 3:08am
Quoting realjumper
{quote} What I said before still stands.....but....if you had have left your trade alone, your SL would not have been hit. Easy to be wise with hindsight of course...... I'm looking at EA to go south at the moment, but it needs a push from some big bear!! Because I'm on the last day of M15 trading, I might have to wait for M15 to show a signal for EA but we shall see....
If I would not see a down arrow I would not have closed that trade...Well, there is nothing I can about it now and have to move on.
EA is not really willing to anywhere but sideways... This whole week was not good for me, have to revisit my trades on weekend.
  • #16,305
  • Jul 19, 2013 3:08am Jul 19, 2013 3:08am
Quoting ozgsnr
+42 Pips its still open but I going to close. Im not good about exit. {image}
Why not move your SL to +30 and see what happens?
Doing what you like is Freedom. Liking what you do is Happiness.
  • #16,306
  • Jul 19, 2013 3:09am Jul 19, 2013 3:09am
Quoting Cold_W
{quote} If I would not see a down arrow I would not have closed that trade...Well, there is nothing I can about it now and have to move on. EA is not really willing to anywhere but sideways... This whole week was not good for me, have to revisit my trades on weekend.
The night is still young so EA might make it's mind later. This hasn't been a great week for me either....still in the green but not a big week for me.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #16,307
  • Jul 19, 2013 3:24am Jul 19, 2013 3:24am
  •  Jamz
  • | Joined May 2012 | Status: Tops and bottoms are for bikinis | 798 Posts
Quoting realjumper
{quote} Why not move your SL to +30 and see what happens?
and if I may add, why not just watch M15 chart now?

I have trade on EJ at BE +1 and will last it out till whatever happens. Nothing lost from account that way.

A very slow week for me too RJ and I have been severely tempted to do things outside my rules just to justify my sitting here! M5 -- mark that candle, push M15 and have a look -- that is a really good idea to use often.
  • #16,308
  • Jul 19, 2013 3:35am Jul 19, 2013 3:35am
Quoting realjumper
{quote} Why not move your SL to +30 and see what happens?
Definitely you're right. Im not good about exit.
I'm nervous when I have open position. I have to work about exit.

I closed +32.

Im happy.

When the hit +20 Pips my SL going to +3. Then everything manual. course I don't forget target.

EDIT: Often I forget
  • #16,309
  • Jul 19, 2013 4:00am Jul 19, 2013 4:00am
Quoting Cold_W
{quote} If I would not see a down arrow I would not have closed that trade...Well, there is nothing I can about it now and have to move on. EA is not really willing to anywhere but sideways... This whole week was not good for me, have to revisit my trades on weekend.

EA is doing it's drop
Doing what you like is Freedom. Liking what you do is Happiness.
  • #16,310
  • Jul 19, 2013 4:04am Jul 19, 2013 4:04am
  •  Jamz
  • | Joined May 2012 | Status: Tops and bottoms are for bikinis | 798 Posts
Quoting Jamz
{quote} I have trade on EJ at BE +1 and will last it out till whatever happens. Nothing lost from account that way.

stopped BE +1 I see GJ held it's own.
Back to searching .......maybe have early night.......need to refresh for next week!
  • #16,311
  • Jul 19, 2013 4:05am Jul 19, 2013 4:05am
Quoting Jamz
{quote} stopped BE +1 I see GJ held it's own. Back to searching .......maybe have early night.......need to refresh for next week!
Yep.....I see EJ pulled back but GJ never looked like pulling back (on the M15)......interesting, no?
Doing what you like is Freedom. Liking what you do is Happiness.
  • #16,312
  • Jul 19, 2013 4:14am Jul 19, 2013 4:14am
  •  Jamz
  • | Joined May 2012 | Status: Tops and bottoms are for bikinis | 798 Posts
Quoting realjumper
{quote} Yep.....I see EJ pulled back but GJ never looked like pulling back (on the M15)......interesting, no?
It would seem to just be a euro weakness, yes. It is interesting watching currencies adjust themselves against each other, especially when they clash against each other like USD and Euro both want to go up but GBP wants to stay in the same place. It makes it quite fun to watch the "simple dealing rates" moving.

I watched eurnz going down.......without playing it........... anyone asking me why not will be crossed off my Xmas list!!! I even thought what a perfect sell setup! Short circuit between brain and mouse finger......The 4 pip spread soon pays for itself and if NZD goes 20 ENZ goes 50. I will keep watching that one.
  • #16,313
  • Jul 19, 2013 4:59am Jul 19, 2013 4:59am
Quoting antantnz
{quote} Hmmmm ... wise words me thinks, and I think I might be doing this as well ... trying to run before I can walk is not doing me any favours, and because often you get alerts all at once it's actually really easy to miss the good trades ... ironic because part of your brain is going "the more pairs, the more opportunities", but I think it's actually "the more pairs, the more missed opportunities". Back to basics! I know people like Marty are doing it with one or two pairs, time to give that a try.
So the update on this is that I've only focused on the one pair for the last 9 or so days - EJ. Included in that was the weekend where I spent some time on the simulator and ran through about 20 or so days of trading. I have to say, for someone like me that was a huge benefit in terms of getting "instant" feedback. Sure you might not quite have the same level of information / tools as you would in live trading, but in terms of seeing how the pair's price action flowed, was a good way to learn.

Most of you probably already know this, but in case there's anyone trying to chase 10 pairs at once, here's some insight on one pair.

The big advantage is that, if you're watching a lot of pairs, you don't have a mental picture of what's happening on each pair. With only one pair you do - when you hear an alert, you pretty much already know what you're going to see. In other words, you pretty much already know whether it's likely to be worthwhile or not.

Also, because you're only getting one alert at a time, you have time to have a proper look at the screen and make your decision. You're not making a 5 second decision so that you can go and quickly check the next pair that also just alerted. You have time to be thorough.

In other words, better decision making. Better decision making = better trades. Better trades = better profits.

Of course the disadvantage is if you're looking for near-perfect setups, and you have limited trading hours, and family distractions, you can very easily miss the 1 or 2 opportunities that come your way in a night. So I think for next week I will extend it to a second pair, probably EA although obviously I want to try and find something that moves at different times than EJ. We shall see.

But yeah, just wanted to say that those that are overloading themselves with too many pairs, you really should consider giving this a try, even just for a week.
1 pip at a time ... if the entries are strong, the rest will follow ...
  • #16,314
  • Jul 19, 2013 5:03am Jul 19, 2013 5:03am
Quoting antantnz
{quote} So the update on this is that I've only focused on the one pair for the last 9 or so days - EJ. Included in that was the weekend where I spent some time on the simulator and ran through about 20 or so days of trading. I have to say, for someone like me that was a huge benefit in terms of getting "instant" feedback. Sure you might not quite have the same level of information / tools as you would in live trading, but in terms of seeing how the pair's price action flowed, was a good way to learn. Most of you probably already know this, but...
Excellent post...well said!! An example of 'less is more'
Doing what you like is Freedom. Liking what you do is Happiness.
  • #16,315
  • Jul 19, 2013 5:33am Jul 19, 2013 5:33am
Quoting antantnz
{quote} So the update on this is that I've only focused on the one pair for the last 9 or so days...
I totally agree. Maybe not one but two pair enough. Limited time killing me and unfortunately family distraction.

If I have 2 pair I better manege than I have 8 pair.
  • #16,316
  • Jul 19, 2013 5:40am Jul 19, 2013 5:40am
Quoting realjumper
{quote} I'll talk more about this next week because it relates directly to my M15 testing, but, mark that 1625 bar on the M5 chart, and then switch to the M15 TF on the same chart and tell me what you see?
OK home now. The two red lines are where the M5 trades were taken. The second red line, which is the trade in question, has absolutely no red matrix at all, the M15 not ever interested in going short. Stox are similar but matrix gives it away. Is this what you mean to illustrate??

Attached Image (click to enlarge)
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PM1
  • #16,317
  • Jul 19, 2013 5:50am Jul 19, 2013 5:50am
Quoting PipMonster1
{quote} OK home now. The two red lines are where the M5 trades were taken. The second red line, which is the trade in question, has absolutely no red matrix at all, the M15 not ever interested in going short. Stox are similar but matrix gives it away. Is this what you mean to illustrate?? {image} PM1
That's exactly what I mean

If you have a look at EA now, you can see on the M5 that you may have exited the short on the pullback fearing a reversal. But again, the M15 is not even remotely interested. Same for the GJ long.....on the M5 there has been 2 occasions where we may have exited following the M5......but the M15 is not interested!!

Of course there comes a time where the reversal IS going to happen, and we have to be aware of that, but it's unlikely that a reversal will begin 'mid stream'......it usually happens at a pivot or other s/r area.....or a sudden news event. But generally speaking, when a pullback on the M5 happens.....check the M15 as well because it might save you from getting shaken out of the trade.

There's a little bit more to it than that, but not much more. The rule (in a nut shell), as far as I can see before analysing the last 4 weeks data is to 'enter on the M5, manage on the M15, exit at the chosen target.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #16,318
  • Jul 19, 2013 6:47am Jul 19, 2013 6:47am
Quoting Cold_W
Morning/evening to all, First of all I want to thank RJ for full admittance to the thread. I have started a day with a losing trade on EJ. Exit after full red matrix + down arrow + M15 Stoch changing direction. Please let me know what you think. {image}
Ill chime in if its ok too

1. your stop loss was too tight. Lows and highs often get re-tested before heading off in another direction.
2. I would have waited to see another re-test of the DP before considering opening a position here. Price often reacts to DPs but S/R zones carry much more power in my book. You will find much bigger groups of Bears or Bulls gathering at S/R zones than at DPs.
3. I always look at how much travelling price does in a full Stoch move from top to bottom and vice versa (see chart attached and note how much price moves down for a full m5 cycle compared to how price moves up for full m5 cycle.............you entered in what looked like a pullback to my eyes.....it wasnt, but it looked like one)

Hope this helps

Cheers J
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Click to Enlarge Name: eurjpym5 cold.png Size: 59 KB
Winning isnt everything but coming second sucks (Charlie Brown)
  • #16,319
  • Jul 19, 2013 6:55am Jul 19, 2013 6:55am
Quoting jjre65
1. your stop loss was too tight.
If I'm not mistake, his SL was well placed (green circle). His exit was a manual exit when an opposing arrow appeared..... afaik
Attached Image (click to enlarge)
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Doing what you like is Freedom. Liking what you do is Happiness.
  • #16,320
  • Jul 19, 2013 6:59am Jul 19, 2013 6:59am
Quoting realjumper
{quote} If I'm not mistake, his SL was well placed (green circle). His exit was a manual exit when an opposing arrow appeared..... afaik {image}
I meant to say exit rather than stop loss............................how does the rest of my assessment fair RJ?

Cheers J
Winning isnt everything but coming second sucks (Charlie Brown)
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