Evening all...or whatever time of day it is at your place!! Here we go again.....lets take some money from the bank 
Doing what you like is Freedom. Liking what you do is Happiness.
- #16,741
- Aug 7, 2013 1:20am Aug 7, 2013 1:20am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
- #16,742
- Aug 7, 2013 1:21am Aug 7, 2013 1:21am
{quote} Should learn from you. Took a position on EA without looking for AU as correlation. Right now EA is still nowhere to go, and as you notice AU is still struggling to determine its direction around daily pivot. -dc-
Plus selling EA is a counter trend too by checking a daily chart on Mondays......
- #16,743
- Edited 2:02am Aug 7, 2013 1:38am | Edited 2:02am
- | Joined Oct 2012 | Status: Trader | 106 Posts
{quote} Plus selling EA is a counter trend too by checking a daily chart on Mondays......
When I took the position, I didn't notice that the slower M15 stoch is still above 80. I remember a post from RJ about this. Thank you, RJ for a great explanation. Next time I will wait for both faster and slower stoch lines to clearly cross 80/20 plus M15 candle closed before taking any position.
This morning I did again the IFR test (okay please understand I am still amazed with this stuff) with only taking position when:
- both lines on M15 stoch cross 80/20, stoch M5 confirmed as per Genesis rules
- M15 bar has been closed
- only happened the first or second matrix of Genesis
and the result is wonderful (410 pips since Agt for the 3 pairs) 
- #16,744
- Aug 7, 2013 2:29am Aug 7, 2013 2:29am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
{quote} Yup, it's a counter trend trade. Well, SL hit already before Frankfurt open. Will try to find better setup later. Thanks for the input. When I took the position, I didn't notice that the slower M15 stoch is still above 80. I remember a post from RJ about this. Thank you, RJ for a great explanation. Next time I will wait for both faster and slower stoch lines to clearly cross 80/20 plus M15 candle closed before taking any position. This morning I did again the IFR...
Doing what you like is Freedom. Liking what you do is Happiness.
- #16,745
- Aug 7, 2013 2:59am Aug 7, 2013 2:59am
I was going to post my wonderful ENZ sell trade but whilst mucking about with Paint it came back and stopped me out .......
......it is a very spiky customer mostly. I only did a "light" trade as it was Frankie so +5 is my lot. I don't think I'm being greedy but afterwards always presents different ways of what one could have done - of course, this is just the most useless information except to file some of it away for future trades. The low of the day or the BRN may have been better targets. Here is the happy chart.....
Only thing to do......coffee break!
......it is a very spiky customer mostly. I only did a "light" trade as it was Frankie so +5 is my lot. I don't think I'm being greedy but afterwards always presents different ways of what one could have done - of course, this is just the most useless information except to file some of it away for future trades. The low of the day or the BRN may have been better targets. Here is the happy chart.....Only thing to do......coffee break!
Took a couple of trades today, both lost! Fortunately, I bailed early on both of them so only lost half my initial risk on both trades.
EUCAD trade was taken between FO and LO and was just below previous days high (white dashed line). Stop loss was just above previous days high. Looking at it now I can see that the M5 stoch was already below 20 when I took the trade, so maybe I've answered my own question as to why I shouldn't have taken this trade.
Other trade was GBPAUD also taken between FO and LO and was just below DP. Stop loss was just above DP. Initially price went down, but then reversed. Seemed like an OK entry, maybe the M15 stoch should have been a bit lower??
Are there any particular reasons why anyone wouldn't have taken these trades?
Thanks
EUCAD trade was taken between FO and LO and was just below previous days high (white dashed line). Stop loss was just above previous days high. Looking at it now I can see that the M5 stoch was already below 20 when I took the trade, so maybe I've answered my own question as to why I shouldn't have taken this trade.
Other trade was GBPAUD also taken between FO and LO and was just below DP. Stop loss was just above DP. Initially price went down, but then reversed. Seemed like an OK entry, maybe the M15 stoch should have been a bit lower??
Are there any particular reasons why anyone wouldn't have taken these trades?
Thanks
- #16,747
- Aug 7, 2013 3:42am Aug 7, 2013 3:42am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Took a couple of trades today, both lost! Fortunately, I bailed early on both of them so only lost half my initial risk on both trades. EUCAD trade was taken between FO and LO and was just below previous days high (white dashed line). Stop loss was just above previous days high. Looking at it now I can see that the M5 stoch was already below 20 when I took the trade, so maybe I've answered my own question as to why I shouldn't have taken this trade. {image} Other trade was GBPAUD also taken between FO and LO and was just below DP. Stop loss was...
Doing what you like is Freedom. Liking what you do is Happiness.
- #16,748
- Aug 7, 2013 3:55am Aug 7, 2013 3:55am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Doing what you like is Freedom. Liking what you do is Happiness.
{quote} So what did you learn?.....hopefully it was to never take a trade between FO and LO!! We have spoken about this many times on the thread, and it's generally accepted that London will very often reverse whatever Frankie does.
Will not trade anymore between FO and LO. I'm reading the PDF, "Emotion Free Trading" that you recommended, hopefully that will also help!
- #16,751
- Aug 7, 2013 4:19am Aug 7, 2013 4:19am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
I'm not going to short EA on the strength of this divergence....but..... 
Doing what you like is Freedom. Liking what you do is Happiness.
- #16,752
- Aug 7, 2013 5:41am Aug 7, 2013 5:41am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Doing what you like is Freedom. Liking what you do is Happiness.
- #16,753
- Aug 7, 2013 5:51am Aug 7, 2013 5:51am
Anyone in this EJ long?...Jo?..... Edit: corrected typo...I said AJ but I meant EJ.......doh!
Not me, but babysitting UJ nearly at BE. CT yes, but I though worth the risk after the 200 or so pip downer........
- #16,754
- Aug 7, 2013 5:55am Aug 7, 2013 5:55am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
{quote} Not me, but babysitting UJ nearly at BE. CT yes, but I though worth the risk after the 200 or so pip downer........
Doing what you like is Freedom. Liking what you do is Happiness.
- #16,758
- Aug 7, 2013 6:13am Aug 7, 2013 6:13am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
{quote} Hi RJ, I didn't take it since the stoch on M5 heading north on close of the third Genesis matrix. I try to take an entry while it is between the first/second Genesis matrix. It seems helping me to avoid bad trades on backtest but also make the opportunity to entry become rare. Rrrr, this could be a silly question... is there any preference/suggestion about how many Genesis matrix max before taking a signal or a signal consider invalid/too late? -dc- Edit: adding the picture. First vertical lines: M15 stoch not cross 20 yet. Second vertical...
To answer your earlier question, as long as the Matrix is all one colour, then it's job is done.....it's showing you which way is valid to trade *provided* other criteria are met....stochs, pivots etc etc. Matrix is valid for as long as we have a solid 4 colour block. If we have that block, we look for supporting criteria. If we can't find any supporting criteria, then we will have to consider waiting for a better opportunity.
Doing what you like is Freedom. Liking what you do is Happiness.
{quote} Forgetting about EJ being under S3 when this move started.....I would have taken the first entry, but it would have been the candle after the yellow vertical line you drew. The M5 stoch has made it's intention clear from about 10 candles back, and the M15 stoch would have been crossing the 20 line at that time....and the matrix was in full support....
So by taking next bar after the first vertical line, it means you don't wait for M15 candle to close. I used to do that but in some cases the stoch reversed when the M15 bar closed. Now I don't have courage to do that anymore... Any advice for me about this?
Note: Yup, I understand the re-entry from the video now
a bit late if you remember I ever asked you about that few months ago.-dc-
- #16,760
- Aug 7, 2013 6:55am Aug 7, 2013 6:55am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Doing what you like is Freedom. Liking what you do is Happiness.