Genesis Matrix Trading

Well, time will tell. My SL is still there.

if it came w a chart I reckon RJ could

J

I bet he could

I'd definitely put a stop loss on the wind this weekend!

risky if you lived in Wgtn

J

SL hit, so it's +15 for me.

I'm only 2 hours up the road.....we're getting more than our share of wind too!

Nothing wrong with that

The amount of hard work you are putting in for everyone's benefit is really admirable, RJ.

Have a good holiday!

Nice one CW!

Thanks.....and you're welcome

Thank you! Exits are still the harderst part for me

I tried M1 earlier this week, admittedly only tried it for 1 day.

But found it actually delayed my entry, and as CW said very stressful.

My normal procedure is:

1. See setup on M15
2. Check M30/H1 charts
3. Wait for M5 to allign
4. Hit the "button"

When I trialed M1, I was just adding another check ?? And delayed my entry ??

Anyway, I gave it a go, must say, the next day with M1 gone I was far more relaxed and comfortable with my setup.

Actually a worthwhile exercise, made me more comfortable with my setup.

If you won't mind, Marty, are you still trading EJ and GU only?

Yup, just those two.

That requires all my concentration

Keep on thinking of trading another pair, but if I keep hitting my profit targets, why do I need to complicate my life ?

Such a relief, to have achieve/reached this stage, where, I know what I am looking for, just sit and wait for the market to provide me with a setup, and hit the button.

Simple really

Plus, if I traded another pair, I would need more screens ???

Thanks, Marty. That is really good to know. I was wondering when EJ had a difficult patch, whether you moved to another pair.


I suppose when we have a robust system, it is a matter of waiting for the setup to present itself. Because it is not a matter of IF it comes, but WHEN it comes.


Aren't we fortunate we have Genesis!


Have a good weekend.

Padila,

Yup, very lucky !!

Hope you have a great weekend.

When either pair is in a tight range, I see that as a test of my patience, and control of greed.

In trading you have good days of high volatility, and days of tight ranging, difficult trading, take them both in your stride.

A few points here....

M1 trading for sure won't be everyone's cup of tea...different strokes for different folks!! The reason I began the M1 testing was to see whether Genesis could trade the M1 when we are in a tight range for days on end, and the answer is 'yes it can, but with a couple of subtle changes'. Of course we have the option to just sit out those days and wait for the market to return to 'normal', but going down to M1 is also an option.

The setup you describe will certainly be stressful and perhaps even unreliable on M1 although I couldn't say for sure because I don't trade in that way. I'd have to embark on another 4 week test, and I think I'm all 'tested out' for this year!! Speaking of testing, it's good that you had a crack at M1, but (with respect), 1 day doesn't show anything really. That's the reason that I go for 4 weeks for each test, to try and see if the system can handle all market conditions (well, most market conditions), and to see if any 'tweaks' are required.

One thing I see mentioned often is that M1 trading is too intense, stressful...and requires 'massive screentime', takes many losses as well as wins...blah, blah, blah.....and I can say, hand on heart, that this is may all be true if you don't have the right system, goals, attitude etc etc......and I am not point a finger at you Marty, or me or anyone else.....I see those comments often and I think it was/is a trader here at FF named Turvey (or similar), who has traded M1 for a long time and has had to endure all that kind of talk!!

An example....'M1 trading requires too much screentime'. I submit that this is not true....because....If I trade (say) the opening of Tokyo, London and NY I will get more setups that I know what to do with on the M1...for certain. Now, referring back to the spreadsheep (slip of the tongue...I mean 'spreadsheet'... ) example I made a few days ago here, I gave 2 samples of pips/day goal....each had an example of a starting balance of $500 and $1,000. Let me do one more example, and I'll split the difference and instead of making it 10 pips/day or 30 pips/day......I'll go 20 pips/day

Example 1

12-Jan-2014
Opening Balance = $500
Daily Target = 20 pips
Risk = 2%

17-Jan-2014
Closing Balance = $560

28-Feb-2014
Closing Balance = $974

30-April-2014
Closing Balance = $2,210

30-June-2014
Closing Balance = $5,108

29-Aug-2014
Closing Balance = $12,138

31-Oct-2014
Closing Balance = $29,512

31-Dec-2014
Closing Balance = $69,092

============================================
Example 2

12-Jan-2014
Opening Balance = $1,000
Daily Target = 20 pips
Risk = 2%

17-Jan-2014
Closing Balance = $1,122

28-Feb-2014
Closing Balance = $1,994

30-April-2014
Closing Balance = $4,606

30-June-2014
Closing Balance = $10,718

29-Aug-2014
Closing Balance = $25,548

31-Oct-2014
Closing Balance = $62,208

31-Dec-2014
Closing Balance = $145,702

============================================

Now, both examples require only 20 pips/day. On the M1 chart, on the 4 pairs that I monitor, I am sure that I can get those 20 pips in the first 3 hours (if not sooner) of any of the above market openings. So.....that blows the 'too much screentime' myth out of the water!

Also, there is no stress or intensity involved, and the reason there isn't, is the same reason that the 20 pips will come fairly easily and quickly...the system is tweaked to suit M1 specifically, and it works well. The 'many losses as well as wins' argument also holds no water, for the exact same reason.

The ultimate goal (for me) is to make that 20 or 30 within the first few hours of Tokyo session, then I'm done trading for the day because I have a nice income from just that small amount of pips. That's where I want to be.....and will be, by this time next year.

There will be, I am certain of this, people who are going to be saying 'yeah, yeah, yeah RJ...that's all fine and dandy, but it's theory only.....show me the money.' Those people are correct.....I have not been trading in the above fashion and I don't have a 6 figure bank account so far this year. Why not? Because a) I haven't followed this method of lot size compounding, and b) because I have to live and pay my expenses!

So to come full circle.....M1 trading won't be for everyone, and Genesis on the M5 is excellent....and the same method of lot size compounding will work there too. I don't want to spend time making in depth analysis, waiting for setups to start forming, check multiple timeframes and then wait patiently for the setup to complete and give me an entry. I've been there....and it doesn't 'float my boat' any longer......I would like to spend a few hours with little stress to make a good income and then I can have the time to do what I want to do......and to me, time is the most important commodity!

Imagine if you started with $2000.................

If you started with $2000 and averaged 80% hit rate with 2% risk (so you didn't achieve the 20 pips EVERY day) at 20 pips/d but on those loss days had a 10 pip loss you would have $500787 at the end of 200 trading days!! Are you kidding me???

Imagine....$3000 with the above scenario..........$751000

In ONE year all financial problems are over - well they would be for me!!

Genesis has given us the ability to make this come TRUE...............regardless of what TF we trade........................

PM1