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Genesis Matrix Trading

  • #18,221
  • Oct 1, 2013 8:43pm Oct 1, 2013 8:43pm
Quoting jjre65
{quote} They'd be rioting in the streets in other countries
True.....early days days yet!...but lets hope that doesn't happen. I see the biggest risk being the credit rating....Fitch and Moodies will be taking a very dim view of this infantile behaviour.....and assuming this continues for the rest of this week and next week, and no debt 'ceiling' raise is made, then a default could well be on the cards and that will be massive!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #18,222
  • Oct 1, 2013 9:35pm Oct 1, 2013 9:35pm
Quoting realjumper
{quote} True.....early days days yet!...but lets hope that doesn't happen. I see the biggest risk being the credit rating....Fitch and Moodies will be taking a very dim view of this infantile behaviour.....and assuming this continues for the rest of this week and next week, and no debt 'ceiling' raise is made, then a default could well be on the cards and that will be massive!!
Maybe these guys need a lesson on using stop losses..................haha

RJ I know we shouldnt ask Q,s re M1 trading until your test period is over but I have been having very good success in demo and wondered if you have been holding the same regard for DP/SR/BRN/News etc at entry points. I have disregarded all but news at entry and bring them into play for exit timing.

Not pushing for a discussion, just thought you might be on the same train after your GJ trade a few days back where you shorted ontop of the BRN and news in 15.

Cheers J
Winning isnt everything but coming second sucks (Charlie Brown)
  • #18,223
  • Oct 1, 2013 10:28pm Oct 1, 2013 10:28pm
Quoting jjre65
{quote} Maybe these guys need a lesson on using stop losses..................haha RJ I know we shouldnt ask Q,s re M1 trading until your test period is over but I have been having very good success in demo and wondered if you have been holding the same regard for DP/SR/BRN/News etc at entry points. I have disregarded all but news at entry and bring them into play for exit timing. Not pushing for a discussion, just thought you might be on the same train after your GJ trade a few days back where you shorted ontop of the BRN and news in 15. Cheers...

Yes I have....the method of trading and more specifically the entry, hasn't changed. What I do do that I wouldn't do on an M5 chart is to (say) short 15 pips above a given s/r line and be prepared to exit at BE or with 5 - 10 pips if the signal is good. I have done this several times, and occasionally the PA blasts right the s/r line and I'm in the box set!

What I really like is when the PA is bouncing along a s/r line, and the stochs are gradually getting themselves into the right place....then a signal comes and I get to enter very. very early with a small SL.....and that SL would be in the same as if I were on the M5 chart, it's just that the entry would have been later on the M5 and the SL consequently more expensive.

Once the trade is entered and at BE if the move continues I transfer my attention to the M5 or even M15 if the trade is a nice long run...all the while aiming at the next s/r line, same as always
Doing what you like is Freedom. Liking what you do is Happiness.
  • #18,224
  • Oct 2, 2013 12:25am Oct 2, 2013 12:25am
Quoting realjumper
{quote} Yes I have....the method of trading and more specifically the entry, hasn't changed. What I do do that I wouldn't do on an M5 chart is to (say) short 15 pips above a given s/r line and be prepared to exit at BE or with 5 - 10 pips if the signal is good. I have done this several times, and occasionally the PA blasts right the s/r line and I'm in the box set! What I really like is when the PA is bouncing along a s/r line, and the stochs are gradually getting themselves into the right place....then a signal comes and I get to enter very. very...
Roger that

Thanks for the feedback

J
Winning isnt everything but coming second sucks (Charlie Brown)
  • #18,225
  • Oct 2, 2013 1:28am Oct 2, 2013 1:28am
Quoting realjumper
{quote} Yes I have....the method of trading and more specifically the entry, hasn't changed. What I do do that I wouldn't do on an M5 chart is to (say) short 15 pips above a given s/r line and be prepared to exit at BE or with 5 - 10 pips if the signal is good. I have done this several times, and occasionally the PA blasts right the s/r line and I'm in the box set! What I really like is when the PA is bouncing along a s/r line, and the stochs are gradually getting themselves into the right place....then a signal comes and I get to enter very. very...

Interesting, I already have the same entry criteria, but still just on M5.

If s/r is 10 - 15 pips from a M5 entry signal, I will take it. If it is not a clean break of the s/r, price will usually will push a little beyond the s/r, hesitate for a few candles, the candles will usually have long wicks in the direction of the trade, where there are either weekly pivots or daily open s/r this can add support to the s/r.

So I can achieve very similar entries, without the use of another TF/chart.

If M15 & H1 confirm the trade, I pay less attention to my M5 indicators, which can get twisted up in PA.

Occasionally when I do hesitate on such an entry, the above strategy is nearly always the better entry point, than waiting for the clean break.

I will admit since RJ has been posting the results of his testing, he is more profitable than I am, but I am more than happy with that compromise.
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #18,226
  • Oct 2, 2013 2:01am Oct 2, 2013 2:01am
Quoting Martyfish
{quote} Interesting, I already have the same entry criteria, but still just on M5. If s/r is 10 - 15 pips from a M5 entry signal, I will take it. If it is not a clean break of the s/r, price will usually will push a little beyond the s/r, hesitate for a few candles, the candles will usually have long wicks in the direction of the trade, where there are either weekly pivots or daily open s/r this can add support to the s/r. So I can achieve very similar entries, without the use of another TF/chart. If M15 & H1 confirm the trade, I pay less attention...
Many ways to skin the cat
Doing what you like is Freedom. Liking what you do is Happiness.
  • #18,227
  • Oct 2, 2013 2:46am Oct 2, 2013 2:46am
Quoting realjumper
{quote} Many ways to skin the cat
Yup

A testament to the Genesis system !!
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #18,228
  • Oct 2, 2013 3:53am Oct 2, 2013 3:53am
Quoting Martyfish
{quote} Yup A testament to the Genesis system !!
I'll get more into it after the test has finished but you're right....provided the basics are adhered to, the system can be used many ways. I guess we will all have our own specialty, but the heart of each of us systems is Genesis, and that's great. As we know, we are here to take the banks money, any which way we can
Doing what you like is Freedom. Liking what you do is Happiness.
  • #18,229
  • Oct 2, 2013 4:02am Oct 2, 2013 4:02am
Words fail me......


Inserted Video
Doing what you like is Freedom. Liking what you do is Happiness.
  • #18,230
  • Oct 2, 2013 5:35am Oct 2, 2013 5:35am
forexlive has a link to a live video feed of Draghi's yappin if you want to see it...
Doing what you like is Freedom. Liking what you do is Happiness.
  • #18,231
  • Oct 2, 2013 9:38am Oct 2, 2013 9:38am
Hello guys, I hope everyone is doing well.

I currently have my trading account with dukascopy, my money is in USD.

With all this bullshit that is going on with the US...and my personal concerns with the USD for the future, I've began wondering if it would be wise to change my whole account to CHF, seeking for a more stable and safe currency. Afterall, the CHF has always been considered a safe heaven currency, right? I have a gut feeling that USD might depreciate heavily in the next few years.

Do you guys have any thoughts about this?
  • #18,232
  • Oct 2, 2013 11:13am Oct 2, 2013 11:13am
Quoting Jack Herer
Hello guys, I hope everyone is doing well. I currently have my trading account with dukascopy, my money is in USD. With all this bullshit that is going on with the US...and my personal concerns with the USD for the future, I've began wondering if it would be wise to change my whole account to CHF, seeking for a more stable and safe currency. Afterall, the CHF has always been considered a safe heaven currency, right? I have a gut feeling that USD might depreciate heavily in the next few years. Do you guys have any thoughts about this?
I would keep your trading account in your own local currency.

If you want to keep funds in a foreign currency, banks can provide the facility.

But you want to know (imho) what you earn, will not have any currency risk to it.
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #18,233
  • Oct 2, 2013 3:16pm Oct 2, 2013 3:16pm
Quoting realjumper
Words fail me...... http://www.youtube.com/watch?v=sx2scvIFGjE
Bizarre
Winning isnt everything but coming second sucks (Charlie Brown)
  • #18,234
  • Oct 2, 2013 5:21pm Oct 2, 2013 5:21pm
Quoting Jack Herer
Hello guys, I hope everyone is doing well. I currently have my trading account with dukascopy, my money is in USD. With all this bullshit that is going on with the US...and my personal concerns with the USD for the future, I've began wondering if it would be wise to change my whole account to CHF, seeking for a more stable and safe currency. Afterall, the CHF has always been considered a safe heaven currency, right? I have a gut feeling that USD might depreciate heavily in the next few years. Do you guys have any thoughts about this?
I tend to agree with Marty on this Jack.....my account is in NZD because this is where I live and spend most of my money. I know that you're younger than I am you may wish to travel the world when your studies etc are complete, but even still, your own currency is possibly the best thing for your trading account.

If you are stashing away some money for a rainy day, I could perhaps suggest that you place that in some sort of term deposit in a bank, either at home, or as you suggest, in an offshore account...perhaps the Swissy. I don't think it's too wise to have too much money tied up in your FX account.....or in any one place in fact.....'all the eggs in one basket' and all that..... Generally speaking FX accounts don't pay interest either.

The downside, which really isn't a big deal, is that any open trades in your own currency can fluctuate even if the market is isn't moving because the exchange rate of your home currency changes. For instance, as I have mentioned before, I took a heavy hit (through my own stupidity) when the Japan earthquake.tsunami hit, and this was made even worse because as I tried to hedge my way out of the mess, my equity was evaporating as the kiwi and usd were changing greatly at the time. This is not an issue for us perhaps, because we are day traders, but for longer term traders it can be a source of annoyance!

At the end of the day, nothing is 100% safe.....look at Gold for instance, and the state of the reserve currency (usd), not to mention the euro. Banks can give you haircut and steal your money, stocks can (and do) crash etc etc etc.

I have a several accounts (bank accounts) in several locations and I have money tired up in insurance companies as well as property etc etc etc. Just spreading the risk so I (hopefully) should be relatively safe from a economic disaster.

To finish.....what was going to be a short post (lol)....I don't think it's a good idea to keep too much in a brokerage account....no matter who the broker is. It's not a savings account....it's just a tool that we use to create more funds
Doing what you like is Freedom. Liking what you do is Happiness.
  • #18,235
  • Oct 2, 2013 5:26pm Oct 2, 2013 5:26pm
The children are still playing out in the yard.....they deserve to be smacked HARD, and sent to their rooms! Shutdown Meeting
Doing what you like is Freedom. Liking what you do is Happiness.
  • #18,236
  • Oct 2, 2013 5:39pm Oct 2, 2013 5:39pm
Still picking small runs at the moment while this nonsense continues. I have EA at present as it rejects the BRN, but I won't hold this for too long.....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #18,237
  • Oct 2, 2013 6:04pm Oct 2, 2013 6:04pm
Quoting realjumper
Still picking small runs at the moment while this nonsense continues. I have EA at present as it rejects the BRN, but I won't hold this for too long.....

SL to +10 so now it can run...or not
Doing what you like is Freedom. Liking what you do is Happiness.
  • #18,238
  • Oct 2, 2013 6:10pm Oct 2, 2013 6:10pm
+15 now...aiming for the DP
Doing what you like is Freedom. Liking what you do is Happiness.
  • #18,239
  • Oct 2, 2013 6:41pm Oct 2, 2013 6:41pm
Quoting realjumper
+15 now...aiming for the DP
PA is messing about now so I've brought the SL down to +20
Doing what you like is Freedom. Liking what you do is Happiness.
  • #18,240
  • Oct 2, 2013 6:46pm Oct 2, 2013 6:46pm
Quoting realjumper
{quote} PA is messing about now so I've brought the SL down to +20
lol...just in the nick of time. +20 to start the day...so be it
Doing what you like is Freedom. Liking what you do is Happiness.
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