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Genesis Matrix Trading

  • #16,761
  • Aug 7, 2013 6:57am Aug 7, 2013 6:57am
Does Liq always drop off at this time cause theyre all having lunch in London?

J
Winning isnt everything but coming second sucks (Charlie Brown)
  • #16,762
  • Aug 7, 2013 7:08am Aug 7, 2013 7:08am
Quoting jjre65
Does Liq always drop off at this time cause theyre all having lunch in London? J
Not sure what the reason is....could be that London has said what it wanted to say!! Dunno, but it does seem to taper off before NY open
Doing what you like is Freedom. Liking what you do is Happiness.
  • #16,763
  • Aug 7, 2013 7:09am Aug 7, 2013 7:09am
Quoting realjumper
{quote} No....the entry is based on the M5 candle. If I'm going to wait for an M15 candle to close I may as well trade the M15 chart! This week hasn't been an easy week for trading, so we have to wait for the right set up.....patience is the holy grail!
Thank you (again) RJ..
  • #16,764
  • Aug 7, 2013 7:28am Aug 7, 2013 7:28am
Quoting realjumper
{quote} Not sure what the reason is....could be that London has said what it wanted to say!! Dunno, but it does seem to taper off before NY open
mmmm
Winning isnt everything but coming second sucks (Charlie Brown)
  • #16,765
  • Aug 7, 2013 7:38am Aug 7, 2013 7:38am
short entry on AJ and CJ

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5 min stoch a bit late on both

A couple hours of blind flying today helped with a few things
  • #16,766
  • Aug 7, 2013 8:10am Aug 7, 2013 8:10am
Quoting hungry pips
short entry on AJ and CJ {image} {image} 5 min stoch a bit late on both A couple hours of blind flying today helped with a few things
nice entry's, i like it
  • #16,767
  • Aug 7, 2013 8:38am Aug 7, 2013 8:38am
thanks fame
but I see now why EJ is the preferred yen pair to trade, its moving twice the distance then my 2 trades...more guts to it....
  • #16,768
  • Aug 7, 2013 8:49am Aug 7, 2013 8:49am
Short on EA, BE already. This is more to the "re-entry" scenario refer to RJ's explanation.
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  • #16,769
  • Aug 7, 2013 9:26am Aug 7, 2013 9:26am
Quoting realjumper
Anyone in this EJ long?...Jo?..... Edit: corrected typo...I said AJ but I meant EJ.......doh!
No RJ, didn't take that long, although I was quite close to pulling the trigger, but saw the setup a bit too late. Instead, I took the trip back down from below S2 to S3 for +45

Plus EA short still open at BE+3 and hovering around +44 atm, targeting the DP (at least), maybe WP if I hold it past London close...
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mind over matter
  • #16,770
  • Aug 7, 2013 11:46am Aug 7, 2013 11:46am
Was a little bit risky this short on EA, but the sl was cheap and i am lucky girl, reach my target of 100 pips.

EDIT: one more reason why i took this trade, it was also so yesterday high.
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  • #16,771
  • Aug 7, 2013 11:52am Aug 7, 2013 11:52am
Quoting kosmo
{quote} No RJ, didn't take that long, although I was quite close to pulling the trigger, but saw the setup a bit too late. Instead, I took the trip back down from below S2 to S3 for +45 Plus EA short still open at BE+3 and hovering around +44 atm, targeting the DP (at least), maybe WP if I hold it past London close... {image}

Kosmo, you doing very well, nice nice,
  • #16,772
  • Aug 7, 2013 12:22pm Aug 7, 2013 12:22pm
Quoting Fame of me
Was a little bit risky this short on EA, but the sl was cheap and i am lucky girl, reach my target of 100 pips. EDIT: one more reason why i took this trade, it was also so yesterday high. {image}
Excellent trade, Fame! Same reasons here: y's high/R1/BRN and a good signal.

I had a vision of PA going down to y's low or possibly WP. I will know next time though that 100 pips is better than 63 (stopped out at DP, my initial target).
Today's total is +108 pips, so I'm a happy girl too!
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mind over matter
  • #16,773
  • Aug 7, 2013 12:28pm Aug 7, 2013 12:28pm
Quoting Fame of me
{quote} Kosmo, you doing very well, nice nice,
Thanks, but it's you winning the dessert today
mind over matter
  • #16,774
  • Aug 7, 2013 12:29pm Aug 7, 2013 12:29pm
Quoting kosmo
{quote} Excellent trade, Fame! Same reasons here: y's high/R1/BRN and a good signal. I had a vision of PA going down to y's low or possibly WP. I will know next time though that 100 pips is better than 63 (stopped out at DP, my initial target). Today's total is +108 pips, so I'm a happy girl too! {image}
108 pips are awesome!!!
  • #16,775
  • Aug 7, 2013 12:43pm Aug 7, 2013 12:43pm
Quoting Fame of me
{quote} 108 pips are awesome!!!
Yeah, it feels great! But the trick is to make it consistent...
mind over matter
  • #16,776
  • Aug 7, 2013 7:18pm Aug 7, 2013 7:18pm
Got up early to nip 40 pips (~20 pips each) on EJ and AJ from the Tokyo Open. Tokyo's been giving fairly good signals on the yen crosses and aussie pairs recently.

Exit a bit early it seems now, but good pips in the bag before the Euro session.

Edit: exit a fair bit too early it seems, and EA was probably the better looking Genesis trade today.
  • #16,777
  • Aug 7, 2013 7:31pm Aug 7, 2013 7:31pm
Took long on AU, BE already. The first signal was before my trading time, but the reentry signal happened around Tokyo open and I saw that price hasn't moved too far from the original signal. Target set around R1.

-dc-
  • #16,778
  • Aug 8, 2013 2:02am Aug 8, 2013 2:02am
Hello RJ and Everyone,

This setup(red vertical line) on EJ looks valid to short,only thing I was confused about,was the Time(1 hour before FO). I was right there to leave that move RJ ?
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  • #16,779
  • Aug 8, 2013 2:08am Aug 8, 2013 2:08am
Quoting Skat
Hello RJ and Everyone, This setup(red vertical line) on EJ looks valid to short,only thing I was confused about,was the Time(1 hour before FO). I was right there to leave that move RJ ? {image}
Yes, it was nearly perfect Genesis setup (as I see it) on both EJ and UJ. I did not take for the same reason which was the end of Asian session.
Let's see what RJ will tell us.
  • #16,780
  • Aug 8, 2013 2:51am Aug 8, 2013 2:51am
Quoting Skat
Hello RJ and Everyone, This setup(red vertical line) on EJ looks valid to short,only thing I was confused about,was the Time(1 hour before FO). I was right there to leave that move RJ ? {image}
This is one of those times where you're damned if you do, and you're damned if you don't!! Lets have a look at this:

For the trade:
* Rejection of the DP...in fact PA has tried several times to break the DP but failed each time.
* Full Genesis Matrix
* M5 and M15 Stochs both perfect
* Arrow
* Cheap SL

Against the trade:
* late in Tokyo session

Also, into the mix we can throw a fair bit of BOJ announcements and the yet-to-come (at the time) BOJ Press conference. We can never know which way the PA is going to go upon news events.

So..to take the trade or not? There's a lot in favour of the trade, and not much against it apart from the Tokyo session nearing it's end as Frankie session draws closer. For sure I am reluctant to enter a trade so late in the session, but as you guys have noticed, that was a damn near perfect set up......and the SL was only 20 pips. Would I risk 20 pips for a possible +100 if S1 is our target...hmmm...I think I would but I would be keen to bring the SL down to BE at +20 and see what happens.

Having said that, there's nothing wrong in passing the trade up if you feel that the risk was too great...it's not a bad rule to have to not enter so late in the session, and another trade will always come along later....that is for certain.

As they say, it is better to be out of a trade, wishing in.....than it is to be in a trade, wishing out!!

As it happens, I was already in that trade but from much earlier in the session and I had to babysit it though nearly 2 hours of drawdown and it never did reach S1 before I took a modest profit.

So...to conclude.....lol....this is getting longer and longer and I will need coffee shortly.....to sit out the trade was probably the right decision if you felt that the risk was too great. As I say, I was already in the trade from earlier in the day but if I wasn't, I might have been tempted to have a go at it simply because the SL was so cheap (relative to the target) and because the setup was as good as you're likely to see. The big unknown though, is all the Japan news today......
Doing what you like is Freedom. Liking what you do is Happiness.
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