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Genesis Matrix Trading

  • #17,081
  • Aug 20, 2013 12:47am Aug 20, 2013 12:47am
  •  Jamz
  • | Joined May 2012 | Status: Tops and bottoms are for bikinis | 798 Posts
I am in a grumpy mood.......not about Wheeler but get me started....How I watched +300 pips go by without joining in. Now GA moved upwards starting Frankie yesterday but I saw it as a CT trade, short -term anyway so left it alone, although upwards is the longer term trend. Then my strict entry setups kept me out. This is frustrating! However, I consider it better to stick to my rules which have seen my win rate increase dramatically rather than try and bend them. I have hesitated to make this post but I remember trying to join in trends before and suffering numerous stop outs that cost me. I hope some of you have caught these Oz cross trades. My account is not an aggressive one-- it is a slow growth one but rules are tough sometimes.......
  • #17,082
  • Aug 20, 2013 2:01am Aug 20, 2013 2:01am
Quoting Jamz
I am in a grumpy mood.......not about Wheeler but get me started....How I watched +300 pips go by without joining in. Now GA moved upwards starting Frankie yesterday but I saw it as a CT trade, short -term anyway so left it alone, although upwards is the longer term trend. Then my strict entry setups kept me out. This is frustrating! However, I consider it better to stick to my rules which have seen my win rate increase dramatically rather than try and bend them. I have hesitated to make this post but I remember trying to join in trends before and...
I'm sure you would have read in the High Probability Trading book about this Jamz. I remember Marcel speaking about traders he had met on the 'floor' and how there was one trader who took few trades, but his win/loss rate was astounding. So much so that people tried to be like him, but they failed because they couldn't stick to the rules! I recall him saying that most profitable traders had a method where they would advance in the '2 steps forward and one back' fashion, but this guy had a very steady advance curve. For sure, some trades slipped right by him, and others would scoff because this guy missed out on the trade......but......when he DID enter a trade, he nearly always won.

This is the way I'm trying to do it too. The trades that I see but don't take because they didn't meet my criteria, can go without me.....even if they turned into 100 pip winners for some. I'm happy for them, and I'm happy for me, because I stood firm against any knee jerk entry. Now, the times that those situations turn into 100 pip winners is not many...and most of them I would be in on anyway if they met my criteria. More often than not, those trades may run for a while before they either reverse or stall.....either way, they give few pips, maybe a BE exit, maybe even a loss.....but one thing they will give ME.....is stress!!

When I enter a trade I am pretty sure that it will go my way, because I have done my homework and the trade meets my criteria. If I'm wrong, that's fine...I'm wrong and I deal with the loss easily because it was an accepted part of the plan. But 7 or 8 out of 10 trades will go my way. I might only enter a few trades, but if they are 80% winners, then (to me) that is better than entering 25 trades and having a win/loss rate of 50:50 or less.

So don't be grumpy....just keep working on your criteria to better cope with these situations. I *could* have entered EA, AU and NU and got all 3 correct. My bias was correct based on what I knew these Aussie and Kiwi idiots in suits would say.....but that's not part of my plan.....that's gambling.

And......now you owe me coffee
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,083
  • Aug 20, 2013 2:21am Aug 20, 2013 2:21am
  •  Jamz
  • | Joined May 2012 | Status: Tops and bottoms are for bikinis | 798 Posts
Quoting realjumper
{quote} ISo don't be grumpy....just keep working on your criteria to better cope with these situations. I *could* have entered EA, AU and NU and got all 3 correct. My bias was correct based on what I knew these Aussie and Kiwi idiots in suits would say.....but that's not part of my plan.....that's gambling. And......now you owe me coffee
Cheers RJ, yes i do remember that one in the book. he had suffered a big loss learning his way to trade that way. Your words are very reassuring as sitting here alone looking at 300 pip climb made me want stronger stuff than coffee!!! A lot of that was news too. Forex is not gambling, setups tell us to enter. I can wait......with a coffee.....
  • #17,084
  • Aug 20, 2013 2:35am Aug 20, 2013 2:35am
The ATR has been pitiful on EU lately......I might have to drop that to a reserve trading pair soon and bring something else to the table.... hmmmm
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,085
  • Aug 20, 2013 2:48am Aug 20, 2013 2:48am
  •  Jamz
  • | Joined May 2012 | Status: Tops and bottoms are for bikinis | 798 Posts
Quoting realjumper
The ATR has been pitiful on EU lately......I might have to drop that to a reserve trading pair soon and bring something else to the table.... hmmmm

Agreed, the euro has not been behaving -- $US goes up, GBP, AUD, NZD all go down but euro stays steady. $US goes down, Euro finds big excuse to go up.......I think the summertime game for bankers is to see for how long they can keep the Euro on 1.33333
  • #17,086
  • Aug 20, 2013 3:39am Aug 20, 2013 3:39am
This is very CT, but I like the idea of this trade, plus I don't really buy into this earlier drop......especially in the London session. We shall see, for sure!!
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Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,087
  • Aug 20, 2013 3:47am Aug 20, 2013 3:47am
Quoting realjumper
This is very CT, but I like the idea of this trade, plus I don't really buy into this earlier drop......especially in the London session. We shall see, for sure!! {image}

SL to +10
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,088
  • Aug 20, 2013 4:03am Aug 20, 2013 4:03am
I had a go GJ too, Out already with +27 . EJ was nicer, got +42.

Was not willing to BE and trail as it was CT as you mentioned.

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Let your plan trade for you, not your emotion!!!
  • #17,089
  • Aug 20, 2013 4:05am Aug 20, 2013 4:05am
Quoting xremmy
I had a go GJ too, Out already with +27 . EJ was nicer, got +42. Was not willing to BE and trail as it was CT as you mentioned. {image} {image}
Nicely done. I looked at EJ too but I think one CT trade at a time is enough for me!!....lol
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,090
  • Aug 20, 2013 4:27am Aug 20, 2013 4:27am
Thanks RJ.

One thing I've noticed and will try and do a backtest during the weekend is: the first 2 signals of every session almost always gives an opportunity for a +10 and BE trade. Sometimes, the news messes this up. But atleast, when a session starts, a direction is set with some momentum to give a certain push. Just an observation though.

Think i should start the coffee therapy before i start ranting again.
Let your plan trade for you, not your emotion!!!
  • #17,091
  • Aug 20, 2013 4:31am Aug 20, 2013 4:31am
Quoting xremmy
Thanks RJ. One thing I've noticed and will try and do a backtest during the weekend is: the first 2 signals of every session almost always gives an opportunity for a +10 and BE trade. Sometimes, the news messes this up. But atleast, when a session starts, a direction is set with some momentum to give a certain push. Just an observation though. Think i should start the coffee therapy before i start ranting again.
Interesting.....that will be good to see if there is a trade-able pattern there. News always throws a curve ball, especially news when idiots are speaking because no one knows what they will say.....or how they will say it....lol....they often don't know themselves!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,092
  • Aug 20, 2013 4:32am Aug 20, 2013 4:32am
Quoting realjumper
{quote} SL to +10
SL @ +20 now.....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,093
  • Aug 20, 2013 4:45am Aug 20, 2013 4:45am
Quoting realjumper
{quote} SL @ +20 now.....
SL @ +30 now.

EJ would certainly have been the better CT to trade, but hindsight being what it is....lol.....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,094
  • Aug 20, 2013 4:58am Aug 20, 2013 4:58am
Quoting realjumper
{quote} SL @ +30 now. EJ would certainly have been the better CT to trade, but hindsight being what it is....lol.....
I took the manual exit at +38. I was looking for the pivot, but as far as CT trades go, that is still a good result. EJ did much better as we can see, but I'm ok with that
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,095
  • Aug 20, 2013 5:22am Aug 20, 2013 5:22am
EURUSD: my two trades...
at Franfurt open short =+15p;
at London open =+52p... so much to EURUSD this morning... edit: I used the M15 Chart to stay in there.
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There`s no life before COFFEE!
  • #17,096
  • Aug 20, 2013 5:56am Aug 20, 2013 5:56am
CT EA trade taken - 4 attempts at breaking R2............small SL and big target.

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We'll see how it goes............

PM1
  • #17,097
  • Aug 20, 2013 5:56am Aug 20, 2013 5:56am
I'm having a CT day today.....divergence played a part in deciding to enter this one.....
Attached Image (click to enlarge)
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Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,098
  • Aug 20, 2013 5:57am Aug 20, 2013 5:57am
Quoting PipMonster1
CT EA trade taken - 4 attempts at breaking R2............small SL and big target. {image} We'll see how it goes............ PM1
ROFL...snap!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,099
  • Aug 20, 2013 6:01am Aug 20, 2013 6:01am
Quoting realjumper
{quote} ROFL...snap!!
Well at least I'm in good company.

PM1
  • #17,100
  • Aug 20, 2013 6:03am Aug 20, 2013 6:03am
Well that's 20 pips in profit.............SL to BE+1
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