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Genesis Matrix Trading

  • #18,761
  • Oct 20, 2013 9:38pm Oct 20, 2013 9:38pm
Quoting jjre65
Hi to everybody Attached is something I put together for myself, but thought it might be of some help to others who are not trading as well as they would like, and despite the system, not making even 10 pips per day. Cheers J. {image}
Well done jjre65.

You've grown as a trader...................placing thoughts and feelings into words is a big step. ( That is why a written diary can be very helpful )

The only comment I will make about the PDF is that 5% is a big stake to risk each trade. I trade with 1.5%. Just remember how good a trade looks it's still only a 50/50 trade..................you might win or you might lose. The best of setups can fail..............it's a numbers game........

PM1
  • #18,762
  • Oct 20, 2013 10:00pm Oct 20, 2013 10:00pm
Quoting PipMonster1
{quote} Well done jjre65. You've grown as a trader...................placing thoughts and feelings into words is a big step. ( That is why a written diary can be very helpful ) The only comment I will make about the PDF is that 5% is a big stake to risk each trade. I trade with 1.5%. Just remember how good a trade looks it's still only a 50/50 trade..................you might win or you might lose. The best of setups can fail..............it's a numbers game........ PM1
Thanks PM1

I hope you didnt mind me naming you in the PDF, but you have been a great help w your contributions, as has everyone.
I will take on board your comment re the risk size and see how I go.
I like the 50/50 reminder...................its very true!

J
Winning isnt everything but coming second sucks (Charlie Brown)
  • #18,763
  • Oct 20, 2013 10:54pm Oct 20, 2013 10:54pm
Just want to add a big thank you for RJ.

There are many that start threads to show others their systems, and there are many that enjoys interacting with those that are successful and have ideas to offer, but there are very few that specifically wants to take time out to help those that are struggling and help them make it!!!

There are some really great people in this thread.

And I have learnt immensely thanks to you all.

And I love KOSMO's digging image!
  • #18,764
  • Oct 20, 2013 11:39pm Oct 20, 2013 11:39pm
Quoting jjre65
Hi to everybody Attached is something I put together for myself, but thought it might be of some help to others who are not trading as well as they would like, and despite the system, not making even 10 pips per day. Cheers J. {image}
Thanks for sending this up J, it's great to see your thoughts documented in this way. It's kind of like we've been saying before, creating a trading journal may seem like a sill exercise, when when you review your journal entries days and weeks later, you can see whether you are repeating the same errors or whether your trading is getting better.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #18,765
  • Oct 20, 2013 11:47pm Oct 20, 2013 11:47pm
Quoting RainyDay1
Just want to add a big thank you for RJ. There are many that start threads to show others their systems, and there are many that enjoys interacting with those that are successful and have ideas to offer, but there are very few that specifically wants to take time out to help those that are struggling and help them make it!!! There are some really great people in this thread. And I have learnt immensely thanks to you all. And I love KOSMO's digging image!
You're very welcome RD1....we have to take money back from the banks.....that's what we're all here for

Remembering my post earlier about the spreadsheet examples of 12 months projected earnings.....take a look at EA....doesn't matter whether you had entered M1 or M5, just under the DP was a great entry short for +25. There's your +10 and another +15 as a bonus. That's all you have to do....day in, day out....boring stuff like that. Do it every day and you'll have a very nice Christmas 2014!

No need to worry about the home run trades.....chip away at it every day and compound your lot size according to account balance, and you'll win!!

Just as a footnote.....all those trades as per the spreadsheet that I was working from are all at 3%. The early trades (in Jan and Feb) are for small $amounts, but the profit/loss rate is 3%. Come December, and the profit/loss $'s are considerably larger, especially on the 30 pips/day example....5 and 6 figure amounts in fact.....but it's *still* 3%.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #18,766
  • Oct 20, 2013 11:57pm Oct 20, 2013 11:57pm
One more post before I make coffee and get comfortable for todays trading (I was busy for Tokyo session).

It always seems that there isn't enough hours in the day to do all that I want to do.....I'm sure you've all felt the same at some stage. Anyway, I have decided to skip the first of 2 PDF's that I was going to make.....it was really just a detailed review of the 4 week test, but upon second thoughts, it probably isn't needed......you all saw the weekly results so I think that kind of speaks for the M1 method.

More important (to you) I think is exactly how the M1 method works. It's not so different to what we have always been doing, but there are a couple of changes that need explaining, documenting and supporting with images etc etc. This is quite a big job, because I have to get it perfect, and Wiz3003 is going to proof read/adjust/amend/etc etc before this is published and presented here. I think I will just concentrate on the actual method PDF.....I hope that's ok with everyone here?

The actual method used *may* also be good for M5 trading.....it may be an improvement over what we have always done. I'm not sure about that and I'm not going to test in now!!! I'll leave that up to you to test (on demo) if you want.

Ok....coffee time
Doing what you like is Freedom. Liking what you do is Happiness.
  • #18,767
  • Oct 21, 2013 12:22am Oct 21, 2013 12:22am
Quoting jjre65
Hi to everybody Attached is something I put together for myself, but thought it might be of some help to others who are not trading as well as they would like, and despite the system, not making even 10 pips per day. Cheers J. {image}
Thank you for sharing, J!
  • #18,768
  • Oct 21, 2013 12:27am Oct 21, 2013 12:27am
Quoting jjre65
Hi to everybody Attached is something I put together for myself, but thought it might be of some help to others who are not trading as well as they would like, and despite the system, not making even 10 pips per day. Cheers J. {image}
Good job jjre65!
you are doing the right thing to achieve your objective. This is a great example of commitment, I apprecited it.
You control how you trade; the market controls how and when you'll get paid
  • #18,769
  • Oct 21, 2013 1:33am Oct 21, 2013 1:33am
Quoting Cold_W
{quote} Thank you for sharing, J!
My pleasure CW
Winning isnt everything but coming second sucks (Charlie Brown)
  • #18,770
  • Oct 21, 2013 1:34am Oct 21, 2013 1:34am
Quoting wiz3003
{quote} Good job jjre65! you are doing the right thing to achieve your objective. This is a great example of commitment, I apprecited it.
Cheers Wiz3003
Winning isnt everything but coming second sucks (Charlie Brown)
  • #18,771
  • Oct 21, 2013 3:21am Oct 21, 2013 3:21am
Quoting jjre65
Hi to everybody Attached is something I put together for myself, but thought it might be of some help to others who are not trading as well as they would like, and despite the system, not making even 10 pips per day. Cheers J. {image}
A big thank you to jjre65 for the PDF, I has opened my eyes... a lot!
Many thanks for Jo's image and I'm eagerly waiting for RJ notes on M1 trading too.

I am sorry I'm not sharing much with the thread but just sparse comments, I feel that I'm only taking and not giving back (yes, I'm one of those "quietly suffering in the
background"). Because of my job I can't dedicate much continuous screen time to trading, and I don't use a computer at home (by choice: I don't want to miss a single minute with my son).
My aim is to work part time and dedicate the other half to trading as soon as I become profitable enough not to lose my shirt, I've been steadily working on that for the last year or so, and I promised to myself that I would try to give at least something back to this fantastic (life saving) thread.
Good judgement comes from experience, experience comes from poor judgement
  • #18,772
  • Oct 21, 2013 3:49am Oct 21, 2013 3:49am
Quoting jjre65
Hi to everybody Attached is something I put together for myself, but thought it might be of some help to others who are not trading as well as they would like, and despite the system, not making even 10 pips per day. Cheers J. {image}
Great share jjre ... great self analysis, and I think that is definitely one of the key tricks to being a success in this trading business ...

and emphasize's the point of "don't go to the trades, let the trades come to you".
1 pip at a time ... if the entries are strong, the rest will follow ...
  • #18,773
  • Oct 21, 2013 3:54am Oct 21, 2013 3:54am
Quoting realjumper
{quote} Thanks for sending this up J, it's great to see your thoughts documented in this way. It's kind of like we've been saying before, creating a trading journal may seem like a sill exercise, when when you review your journal entries days and weeks later, you can see whether you are repeating the same errors or whether your trading is getting better.
Any time RJ

Im pleased its useful.

Cheers J.
Winning isnt everything but coming second sucks (Charlie Brown)
  • #18,774
  • Oct 21, 2013 3:56am Oct 21, 2013 3:56am
Quoting antantnz
{quote} Great share jjre ... great self analysis, and I think that is definitely one of the key tricks to being a success in this trading business ... and emphasize's the point of "don't go to the trades, let the trades come to you".
Thanks antantnz

Couldnt agree w you more

J
Winning isnt everything but coming second sucks (Charlie Brown)
  • #18,775
  • Oct 21, 2013 3:58am Oct 21, 2013 3:58am
Quoting jurtzi
{quote} A big thank you to jjre65 for the PDF, I has opened my eyes... a lot! Many thanks for Jo's image and I'm eagerly waiting for RJ notes on M1 trading too. I am sorry I'm not sharing much with the thread but just sparse comments, I feel that I'm only taking and not giving back (yes, I'm one of those "quietly suffering in the background"). Because of my job I can't dedicate much continuous screen time to trading, and I don't use a computer at home (by choice: I don't want to miss a single minute with my son). My aim is to work part time and...
Thanks Jurtzi...........................we're all here to help each other and learn

J
Winning isnt everything but coming second sucks (Charlie Brown)
  • #18,776
  • Oct 21, 2013 4:22am Oct 21, 2013 4:22am
Quoting jjre65
Hi to everybody Attached is something I put together for myself, but thought it might be of some help to others who are not trading as well as they would like, and despite the system, not making even 10 pips per day. Cheers J. {image}
Hi jj,

Interesting read !!

One thing I would say, is, particularly for the less experienced trader, the more discretion you have in your entry signals, (generally) the worse the results.

Not too many less experienced traders, have "gut instinct" that is reliable enough to trade on, consistently.

If anything the longer I have traded, the more rules based entry signals I have in my trading plan.
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #18,777
  • Oct 21, 2013 5:00am Oct 21, 2013 5:00am
Quoting Martyfish
{quote} Hi jj, Interesting read !! One thing I would say, is, particularly for the less experienced trader, the more discretion you have in your entry signals, (generally) the worse the results. Not too many less experienced traders, have "gut instinct" that is reliable enough to trade on, consistently. If anything the longer I have traded, the more rules based entry signals I have in my trading plan.
Hi Martyfish

I get that feeling when Ive done my homework and the set up is really good, and in accordance w my rules......so maybe the term "gut feeling/instinct" isnt accurate. Perhaps its excitement that that the time to take a trade is right, and maybe the doubt feeling about a trade when the set up isnt right is more akin to "gut instinct"............that the trade shouldnt be taken.

Cheers J.
Winning isnt everything but coming second sucks (Charlie Brown)
  • #18,778
  • Oct 21, 2013 5:29am Oct 21, 2013 5:29am
jj,

Fair enough.
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #18,779
  • Oct 21, 2013 2:17pm Oct 21, 2013 2:17pm
Some non-farm payrolls trading strategy from RBS
Here’s the gameplan from the currency strategists at RBS. The consensus for NFP is 180K after a 169K reading for August

  1. A rise of 200K or more with upward revisions to July and August would be needed to resurrect talk of a December taper
  2. Fade any US strength on a number between 170K and 180K especially vs EUR, AUD and NZD
  3. A reading of 130-160K would solidify views of no taper until 2014, would boost EUR/USD and NZD/USD
  4. AUD/USD longs would benefit most from a reading of 100-125K
  5. 90K or lower would cause a round of risk aversion with USD outperforming except vs JPY


Love it when someone lays out a clear strategy.

I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #18,780
  • Oct 21, 2013 3:21pm Oct 21, 2013 3:21pm
Quoting Martyfish
Some non-farm payrolls trading strategy from RBS Here’s the gameplan from the currency strategists at RBS. The consensus for NFP is 180K after a 169K reading for August A rise of 200K or more with upward revisions to July and August would be needed to resurrect talk of a December taper Fade any US strength on a number between 170K and 180K especially vs EUR, AUD and NZD A reading of 130-160K would solidify views of no taper until 2014, would boost...
Thank you Marty ... now I realized I can have too a great future as analyst ;-)
You control how you trade; the market controls how and when you'll get paid
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