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Genesis Matrix Trading

  • #17,121
  • Aug 20, 2013 8:08am Aug 20, 2013 8:08am
Quoting Marviin
{quote} The down move started 200pips ago, without any real pullback. So I guess it was quite exhausted.
You're probably right...Any ideas how to avoid such trades?
  • #17,122
  • Aug 20, 2013 8:18am Aug 20, 2013 8:18am
Quoting Cold_W
{quote} You're probably right...Any ideas how to avoid such trades?
Imo the pullback was good, it retraced all over to the M15 60SMA which often act as a S/R.
I'm guessing in that case the pressure put by the euro & the pound on the dollar were too strong.
Otherwise I think the signal was right, the trade was good, sometime it just doesn't work.
  • #17,123
  • Aug 20, 2013 8:25am Aug 20, 2013 8:25am
Quoting Marviin
{quote} Imo the pullback was good, it retraced all over to the M15 60SMA which often act as a S/R. I'm guessing in that case the pressure put by the euro & the pound on the dollar were too strong. Otherwise I think the signal was right, the trade was good, sometime it just doesn't work.
Thank you for sharing your opinion. Hopefully senior members will let us know if we missed something. GL to you!
  • #17,124
  • Aug 20, 2013 8:30am Aug 20, 2013 8:30am
Quoting Cold_W
{quote} You're probably right...Any ideas how to avoid such trades?
Hi CW, Marviin, i could tell that if you look at ATR you could have an answer, but the truth is that it was a good set-up, with the trend and BO of S1 so i took it too,
IMO it was a good trade to take, but sometimes it's not enough and a losing trade can happen, it's a part of this business. The only thing you can do in this case is to cut the loss, when i realized it was a fake one i manually closed at -10
Ciao. Luca
  • #17,125
  • Aug 20, 2013 9:06am Aug 20, 2013 9:06am
Hi all,

finally back after few days without trading to recover the right mental mindset after a mistake.
Below my daily trade. This is based on Genesis applied to the M30 TF which I am testing.

GBPNZD : Long M30, unit 1 = +362 pips, unit 2 = +364 pips.

Be carefull ... the net amount of pips is huge but my SL was 100 pips therefore the real RR is about 3,6. I adjusted my lot size accordingly.

ciao

wiz
Attached Image (click to enlarge)
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You control how you trade; the market controls how and when you'll get paid
  • #17,126
  • Aug 20, 2013 9:31am Aug 20, 2013 9:31am
This is another trade based on a similar set up but on M5 TF.
My plan was looking for a swing ... but ;-)))
Attached Image (click to enlarge)
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You control how you trade; the market controls how and when you'll get paid
  • #17,127
  • Aug 20, 2013 3:31pm Aug 20, 2013 3:31pm
Quoting wiz3003
Hi all, finally back after few days without trading to recover the right mental mindset after a mistake. Below my daily trade. This is based on Genesis applied to the M30 TF which I am testing. GBPNZD : Long M30, unit 1 = +362 pips, unit 2 = +364 pips. Be carefull ... the net amount of pips is huge but my SL was 100 pips therefore the real RR is about 3,6. I adjusted my lot size accordingly. ciao wiz {image}
Always such great analysis thank you Wiz. You have helped me a lot over the time I have been reading this thread (9 odd months).

Interesting you are trying out a M30 approach. I have been doing the same with good results. I think its most effective as a swing trading timeframe (as much as I LOVE the M5, work restrictions get in the way).

Question tho, any particular reason why you are using the gbpnzd? It has a high spread and with the (comparitively) low liquidity I find market orders can get a horrendous slippage. Ok for when you get home runs, but when you need to pull the pin early it can catch you out (well at least it has to me). So I have been using the gbpaud. Moves just as much but the spread is half the amount. I personally rate it as one of the best pairs to trade as I like the way it 'moves'.
  • #17,128
  • Aug 20, 2013 3:44pm Aug 20, 2013 3:44pm
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...
You should be proud of yourself!
Following rules and watching pips go by is MUCH better than bending rules and watching pips evaporate.

I was late getting to market on Monday night and missed ALOT of action on pairs I follow, but I was pleased to see the market getting back to healthy volatility rather than dissapointed that I was missing out.

Think of it as mental toughness training.

J
Winning isnt everything but coming second sucks (Charlie Brown)
  • #17,129
  • Aug 20, 2013 4:20pm Aug 20, 2013 4:20pm
Quoting Cold_W
AU looked OK for a short but it turned out to be a loss... Any comments appreciated. {image}
There's a few issues here, some of them are a little confusing but most are not.

Yes, your short attempt was certainly with the main trend, but the little bull run, or pullback, had been going on since London open, or shortly after LO. Given that this pullback seemed quite determined at the time, you need to be sure that it is indeed complete and the main (bear) trend is now going to resume. You chose the moment that you thought the bears were going to resume control, but how deep did you look into this before pulling the trigger?

There are some differences between your chart and mine, and that is clearly an issue, but lets move on for the moment. Looking at your M5 chart, the entry looks pretty good......but......we need to be as sure as possible that that this pullback is over and we are entering the resumption of the bear run. How to do that? One way to see if this is possibly genuine or not is to just take a quick look at the m15 chart. Now we see a very different picture....the resumption of the bear run does not look at all likely, even the Matrix is not complete. If you were trading *only* on the M15, I'm sure you wouldn't have entertained going short where you did on the M5.

So, a quick look at the M15 and you most likely would never have entered that trade. True?

But going back to your M5 chart your S1 line and mine are out by about 7 pips, which is not huge, but it is of concern. perhaps you might like to check your pivot levels against the table in actionforex?

Also, I see that you had an M5 'down' arrow.....which no doubt was of some influence to your decision to enter short. You can see on my chart that there is no arrow present. I use the ASCTrend indi, but the indication is exactly the same......and I have none. That is of concern to me too.

So, to wrap it up, I think your thought process and analysis was fine, but if you had just checked the M15 chart for confirmation before you pulled the trigger, you may have decided to not enter. No doubt though, there is an issue with the charts because your pivots and mine are different, your arrows and my ASCTrend are different. We need to investigate what is the cause of these differences.
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Attached Image
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,130
  • Aug 20, 2013 4:38pm Aug 20, 2013 4:38pm
Quoting wiz3003
Hi all, finally back after few days without trading to recover the right mental mindset after a mistake. Below my daily trade. This is based on Genesis applied to the M30 TF which I am testing. GBPNZD : Long M30, unit 1 = +362 pips, unit 2 = +364 pips. Be carefull ... the net amount of pips is huge but my SL was 100 pips therefore the real RR is about 3,6. I adjusted my lot size accordingly. ciao wiz {image}
Good to see you back wiz.....and good to see your impeccable analysis again

M30 (imo) could be a good TF to trade with......I've never tried it so I'm keen to see how this works out, but it's a nicely placed TF because (for me) the h1 is just too slow.

If I was going to trade H1 I'd have to drink green tea!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,131
  • Aug 20, 2013 4:47pm Aug 20, 2013 4:47pm
  •  Jamz
  • | Joined May 2012 | Status: Tops and bottoms are for bikinis | 798 Posts
I see the muppets have thought up a new word to escape criticism about sitting squarely at the round table nattering on......they are now having a symposium!
RJ will be lost for words..............
  • #17,132
  • Aug 20, 2013 5:07pm Aug 20, 2013 5:07pm
Quoting Jamz
I see the muppets have thought up a new word to escape criticism about sitting squarely at the round table nattering on......they are now having a symposium! RJ will be lost for words..............
In ancient Greece, the symposium (Greek συμπόσιον symposion, from συμπίνειν sympinein, "to drink together") was a drinking party (source: Wiki)

^^ Says it all really doesn't it?
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,133
  • Edited 5:39pm Aug 20, 2013 5:27pm | Edited 5:39pm
Quoting realjumper
No doubt though, there is an issue with the charts because your pivots and mine are different, your arrows and my ASCTrend are different. We need to investigate what is the cause of these differences.
Could it be that he is using risk=5 for the M5 asctrend arrow? I cannot replicate his charts any other way.
Both the original arrow indicator and the current asctrend indicator on my chart looks similar to yours.

Or possibly local differences in the data feed where enough to trip the indicator over just at that spot?

Edited....
  • #17,134
  • Aug 20, 2013 5:36pm Aug 20, 2013 5:36pm
Quoting Xaphod
{quote} It looks like he is using risk=5 for the M5 asctrend arrow. That is why it is different.
Ahhh.....thanks Xaphod. We'll have to get Cold_W to check that out when he comes online
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,135
  • Aug 20, 2013 5:41pm Aug 20, 2013 5:41pm
Quoting Xaphod
{quote} Could it be that he is using risk=5 for the M5 asctrend arrow? I cannot replicate his charts any other way. Both the original arrow indicator and the current asctrend indicator on my chart looks similar to yours. Or possibly local differences in the data feed where enough to trip the indicator over just at that spot?
I must admit that data feed difference was my first thought because I don't think Cold_W would change the settings for no reason. We'll have to ask him when he comes online, and see which broker he's using etc
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,136
  • Aug 20, 2013 5:53pm Aug 20, 2013 5:53pm
Quoting realjumper
{quote} I must admit that data feed difference was my first thought because I don't think Cold_W would change the settings for no reason. We'll have to ask him when he comes online, and see which broker he's using etc
It is probably due to a difference in the data from the broker. The indicator changes state when it reaches two thresholds, 67 and 33. A small difference in the datafeed when the WPR value is at a threshold could cause the indicator to change state and it does not flip back until it reaches/exceeds the other threshold.
To test if it is so, Cold_W can load his template onto a chart from another broker to compare.
  • #17,137
  • Aug 20, 2013 5:56pm Aug 20, 2013 5:56pm
Quoting Xaphod
{quote} It is probably due to a difference in the data from the broker. The indicator changes state when it reaches two thresholds, 67 and 33. A small difference in the datafeed when the WPR value is at a threshold could cause the indicator to change state and it does not flip back until it reaches/exceeds the other threshold. To test if it is so, Cold_W can load his template onto a chart from another broker to compare.
Yep...that sounds good. There are a few brokers who's data feed is good and who's server offset is correct, so it will be easy enough to get this sorted out.

Thanks Xaphod....thanks a lot
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,138
  • Aug 20, 2013 6:25pm Aug 20, 2013 6:25pm
Quoting realjumper
{quote} Yep...that sounds good. There are a few brokers who's data feed is good and who's server offset is correct, so it will be easy enough to get this sorted out. Thanks Xaphod....thanks a lot
Two different broker and different ASCtrend. Risk=6

Thanks who reminded me to check.

Edit:After Newyork open.
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  • #17,139
  • Aug 20, 2013 7:33pm Aug 20, 2013 7:33pm
Quoting realjumper
{quote} I must admit that data feed difference was my first thought because I don't think Cold_W would change the settings for no reason. We'll have to ask him when he comes online, and see which broker he's using etc
Thank you for your feedback RJ. I would never change settings for no reason and I'm pretty sure that the reason is data feed from my broker. And it's not the first time I see things like this which is very disappointing. Now I'm pretty sure it's time to look for a broker that has a better service.
  • #17,140
  • Aug 20, 2013 7:37pm Aug 20, 2013 7:37pm
Quoting realjumper
{quote} I must admit that data feed difference was my first thought because I don't think Cold_W would change the settings for no reason. We'll have to ask him when he comes online, and see which broker he's using etc
At the moment I trade with http://forex-bcs.com/
I've already started registration process with Oanda. Or maybe you could give me a better advice?
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