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Genesis Matrix Trading

  • #18,641
  • Oct 16, 2013 1:18pm Oct 16, 2013 1:18pm
Quoting Martyfish
{quote} Hi Wiz, Nice trades
Thank you MArty,
you too did very well ... unfortunately the bounce from 3470 surprised me while driving to home. I didn't expect such volatility; I am still in but left on the table most of the gain for the time being. I am going to make a decision about this trade later after dinner.
You control how you trade; the market controls how and when you'll get paid
  • #18,642
  • Oct 16, 2013 1:26pm Oct 16, 2013 1:26pm
Quoting wiz3003
My two trades today ... long and short EU. The last one is still open. {image}
Wiz,

Nice trades!

What kept you in the long through the first pullback towards the DP? And how did you decide on your exit?

Again, good job!
  • #18,643
  • Oct 16, 2013 2:25pm Oct 16, 2013 2:25pm
Quoting bluewatercat
{quote} Wiz, Nice trades! What kept you in the long through the first pullback towards the DP? And how did you decide on your exit? Again, good job!
Hi bwc,

The DP wasn't the first traffic area ... have a look at the charts with my explanations.

Concerning the exit I have different strategies according to my plan. In this case because price moved quickly from my entry level to 3480 area (S1 too) and I was entered close to the top of the day I waited for the support BO ... but there wan a strong bounce while I was far from my PC.
ciao

wiz
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EU SR.jpg Size: 132 KB
Click to Enlarge Name: EUM5.jpg Size: 160 KB
Click to Enlarge Name: EUM15.jpg Size: 170 KB
You control how you trade; the market controls how and when you'll get paid
  • #18,644
  • Oct 16, 2013 5:26pm Oct 16, 2013 5:26pm
Quoting wiz3003
{quote} Hi bwc, The DP wasn't the first traffic area ... have a look at the charts with my explanations. Concerning the exit I have different strategies according to my plan. In this case because price moved quickly from my entry level to 3480 area (S1 too) and I was entered close to the top of the day I waited for the support BO ... but there wan a strong bounce while I was far from my PC. ciao wiz {image} {image} {image}
Wiz,

Thanks so much for the details. So as your long (first trade) was retracing towards the DP and then stalling (the period from about 10:30 - 12:00), had you already started managing this trade on M15? On M5 the matrix went all red and the stochs took a brief dive but then started back up while matrix was full red during this timeframe, but I wasn't sure if you had switched to M15 at that point or not. I have that area circled in yellow in the attached image.
Attached Image (click to enlarge)
Click to Enlarge Name: retrace.jpg Size: 390 KB

Thanks so much for your thoughts!
  • #18,645
  • Oct 16, 2013 5:49pm Oct 16, 2013 5:49pm
Quoting wiz3003
My two trades today ... long and short EU. The last one is still open. {image}
Very nice Wiz.....beautiful clean charts as always
Doing what you like is Freedom. Liking what you do is Happiness.
  • #18,646
  • Oct 16, 2013 5:50pm Oct 16, 2013 5:50pm
Quoting bluewatercat
{quote} Wiz, Nice trades! What kept you in the long through the first pullback towards the DP? And how did you decide on your exit? Again, good job!
Nice to see you here bluewatercat....I was wondering where you got to as you have been on the 'approved' list for quite some time
Doing what you like is Freedom. Liking what you do is Happiness.
  • #18,647
  • Oct 17, 2013 12:55am Oct 17, 2013 12:55am
Quoting realjumper
{quote} Nice to see you here bluewatercat....I was wondering where you got to as you have been on the 'approved' list for quite some time
RJ,

Thanks and it is good to be getting back here! Work had consumed me with a big project, but I am starting to get my forex time back. Thank you RJ, and to everyone for keeping this thread alive! I am very grateful for everyone's contributions.

Thank you!
  • #18,648
  • Oct 17, 2013 1:15am Oct 17, 2013 1:15am
Quoting bluewatercat
{quote} Wiz, Thanks so much for the details. So as your long (first trade) was retracing towards the DP and then stalling (the period from about 10:30 - 12:00), had you already started managing this trade on M15? On M5 the matrix went all red and the stochs took a brief dive but then started back up while matrix was full red during this timeframe, but I wasn't sure if you had switched to M15 at that point or not. I have that area circled in yellow in the attached image. Thanks so much for your thoughts!
Hi bluewatercat,

after the DP BO I moved my long trade in BE and waited for the re-test (particularly after the 3544 area bounce back). From my point of view there were two options :
1) DP keeps and that means it was a good BO
2) DP doesn't keep and that means it was a fake
I can't know what is going to happen but I am ready to deal with the PA. In the first case I was already in and just had to let the price develop, in the second one (if price hit my SL) I had two options :
a) re-enter short
b) wait and observe

Now if you look at the M15 HA candle you see that PA is in trouble just above DP but there aren't clear reversal signals ... so I just needed waiting.
The only negative point was that BE was very close to DP and it could be hit before price taking off but my choose was to limit my risk and this time it paid .... at least with EU because with EJ where I played the same game my SL was hit for two pips before prive moved 75 pips in my direction ;-)
You control how you trade; the market controls how and when you'll get paid
  • #18,649
  • Oct 17, 2013 2:44am Oct 17, 2013 2:44am
Loads of rumours about US downgrades, making dollar crosses very volatile
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #18,650
  • Oct 17, 2013 2:49am Oct 17, 2013 2:49am
Quoting Martyfish
Loads of rumours about US downgrades, making dollar crosses very volatile
Chinese rating agency Dagong downgrades US sovereign credit rating
Doing what you like is Freedom. Liking what you do is Happiness.
  • #18,651
  • Oct 17, 2013 2:54am Oct 17, 2013 2:54am
Quoting realjumper
{quote} Chinese rating agency Dagong downgrades US sovereign credit rating
Rumour that Fitch will downgrade as well
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #18,652
  • Oct 17, 2013 2:56am Oct 17, 2013 2:56am
Quoting Martyfish
{quote} Rumour that Fitch will downgrade as well
If Fitch does, Moodies will surely follow, if not, they will be left out in the cold as S&P already downgraded some time back.....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #18,653
  • Oct 17, 2013 2:59am Oct 17, 2013 2:59am
Yup, agree
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #18,654
  • Oct 17, 2013 3:08am Oct 17, 2013 3:08am
USDX is getting slapped today!!
Attached Image
Doing what you like is Freedom. Liking what you do is Happiness.
  • #18,655
  • Oct 17, 2013 3:40am Oct 17, 2013 3:40am
Dont know what the ramifications of the Washington shenanigans will be.

Thought it would be just relief, problems sorted.

But there may be a sting in tail from financial markets ??
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #18,656
  • Oct 17, 2013 3:59am Oct 17, 2013 3:59am
Quoting Martyfish
Dont know what the ramifications of the Washington shenanigans will be. Thought it would be just relief, problems sorted. But there may be a sting in tail from financial markets ??
Anything is possible I suppose.....just my thoughts and nothing more than that, but I wonder if this latest display from Capital Hill was just a bridge too far?........All that was really achieved was to highlight the train wreck that passes as the number 1 economy...and the mentality of the muppets running the show. Perhaps the market players have (to use a Kiwi saying), had a guts full of USA politicians threatening the world economy through their arrogance and perhaps there will be some form of punishment to come......much as we have just seen with the Chinese downgrade.

Dunno....maybe wishful thinking on my part.....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #18,657
  • Oct 17, 2013 4:20am Oct 17, 2013 4:20am
I was thinking the same thing !!
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #18,658
  • Oct 17, 2013 4:31am Oct 17, 2013 4:31am
Quoting Martyfish
I was thinking the same thing !!
This is interesting: The US deal, and concerns by holders of its debt. It's more or less saying that USA is still in the shit, just the depth varies!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #18,659
  • Oct 17, 2013 4:43am Oct 17, 2013 4:43am
Based, on an earlier post of yours, I now check that news site numerous times a day.

Great insightful commentary and information - So thanks RJ !!

RE US debt, absolutely !! The Chinese and Japanese are both net sellers of US debt.

This latest hullabaloo, will only encourage both to continue selling US debt, and diversifying into hard assets.

That would mean US interest rates head in one direction !!

Which spells disaster, because as virtually all debt and equity markets are priced relative to Treasuries, we have had a 30 year bull market in Treasuries, what happens, what is the trigger for Treasuries to turn ??

Washington shenanigans !!

IMHO
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #18,660
  • Oct 17, 2013 4:53am Oct 17, 2013 4:53am
Quoting Martyfish
Based, on an earlier post of yours, I now check that news site numerous times a day. Great insightful commentary and information - So thanks RJ !! RE US debt, absolutely !! The Chinese and Japanese are both net sellers of US debt. This latest hullabaloo, will only encourage both to continue selling US debt, and diversifying into hard assets. That would mean US interest rates head in one direction !! Which spells disaster, because as virtually all debt and equity markets are priced relative to Treasuries, we have had a 30 year bull market in Treasuries,...
It's a good site Marty...they are straight shooters with little, if any, bias either way.

It's impossible to know what will happen, but it might not be pretty. On the other hand though, China has become the No 2 economy not by threatening and bombing and intimidating others, in fact they have got there without 'firing a shot.' Perhaps USA (as the main player) is in it's death throws, which could go on for years yet, but it must come to an end. It ended for the Roman Empire and the British Empire.....remembering that not too long ago the GBP was the reserve currency....and it will end for the USA (Empire) as well. That in itself may not be a bad thing.....UK is still a power to be reckoned with, both financially and militarily, but the balance has shifted.

Perhaps it's shifting again, as we speak?
Doing what you like is Freedom. Liking what you do is Happiness.
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