I am a fallible imperfect person; so I must be a fallible imperfect trader.
- #19,021
- Oct 31, 2013 7:54am Oct 31, 2013 7:54am
- Joined Sep 2012 | Status: Beam me up, Scotty | 1,531 Posts
- #19,022
- Oct 31, 2013 8:03am Oct 31, 2013 8:03am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Yeah I think you're right.......still....it's been a pretty good day 
Doing what you like is Freedom. Liking what you do is Happiness.
- #19,023
- Oct 31, 2013 8:48am Oct 31, 2013 8:48am
- Joined Sep 2012 | Status: Beam me up, Scotty | 1,531 Posts
I am a fallible imperfect person; so I must be a fallible imperfect trader.
- #19,024
- Edited 9:48am Oct 31, 2013 9:27am | Edited 9:48am
- Joined Sep 2012 | Status: Beam me up, Scotty | 1,531 Posts
Rumours that the BIS has been supporting the Euro, over the last 20 minutes ??? 
I am a fallible imperfect person; so I must be a fallible imperfect trader.
- #19,025
- Oct 31, 2013 10:29am Oct 31, 2013 10:29am
- Joined Sep 2012 | Status: Beam me up, Scotty | 1,531 Posts
Well if that rumour was true, maybe RJ could sell them GMS.
and they will learn next time, trade with genesis
and they will learn next time, trade with genesis
I am a fallible imperfect person; so I must be a fallible imperfect trader.
- #19,026
- Oct 31, 2013 11:10am Oct 31, 2013 11:10am
- Joined Feb 2013 | Status: constructively provocative | 1,505 Posts
Happy to report better news.....yes, christened the baby as a new train arrived.....By George, have a look what Genesis can do! I was after my 10 pips too. {image}
Congratulations, Jamz! mind over matter
- #19,027
- Oct 31, 2013 11:43am Oct 31, 2013 11:43am
- Joined Feb 2013 | Status: constructively provocative | 1,505 Posts
Sometimes it pays to be a night owl... My initial target was S1, but I set the SL@BE+2 after 15 pips instead, and went to sleep. Seeing how well it's been going today I should have had the patience to wait for it to reach S3, but +90 is a nice enough bonus on the last day of the month.
Side note: Genesis gave the signal, while the HTF analysis hinted that the pair might be ripe for a nice drop. Once the trade was free, I just had to give it a chance...
Side note: Genesis gave the signal, while the HTF analysis hinted that the pair might be ripe for a nice drop. Once the trade was free, I just had to give it a chance...
mind over matter
- #19,028
- Oct 31, 2013 4:12pm Oct 31, 2013 4:12pm
Sometimes it pays to be a night owl... My initial target was S1, but I set the SL@BE+2 after 15 pips instead, and went to sleep. Seeing how well it's been going today I should have had the patience to wait for it to reach S3, but +90 is a nice enough bonus on the last day of the month. Side note: Genesis gave the signal, while the HTF analysis hinted that the pair might be ripe for a nice drop. Once the trade was free, I just had to give it a chance...
That is the correct way to play Kosmo -- stoploss to BE is a great trade. Had I been calmer and done the same on my ENZ trade it went on to 180pips!! The daily range yesterday was 260. Yes, I have sticky "manage the trade" too. We have all seen how RJ does the same with moving stoploss as price moves more but i think the last month or so of spooky price action has made us more accustomed to scalping what we can. Still, I feel things are coming together for the best for my trading. +90 makes for a great weekend! Good trading.
- #19,029
- Edited 8:00pm Oct 31, 2013 7:41pm | Edited 8:00pm
- Joined Feb 2013 | Status: constructively provocative | 1,505 Posts
{quote} That is the correct way to play Kosmo -- stoploss to BE is a great trade. Had I been calmer and done the same on my ENZ trade it went on to 180pips!! The daily range yesterday was 260. Yes, I have sticky \"manage the trade\" too. We have all seen how RJ does the same with moving stoploss as price moves more but i think the last month or so of spooky price action has made us more accustomed to scalping what we can. Still, I feel things are coming together for the best for my trading. +90 makes for a great weekend! Good trading.
I am not very keen on scalping. It makes me nervous. Instead, I've taken a liking to the combination of basic TA (horizontal S/R, TLs, S/D zones and, RJ please forgive me, Japanese candlesticks) on HTFs and Genesis as the ultimate confirmation tool on LTFs. I am surprised how well it all works together (not sure if it qualifies as the Eureka Moment, though)
, and it certainly is a good exercise of patience. I have finally understood that less is more. I keep seeing those 300+ pip swings on the H4/dailies, and I know I will get them one day soon. And you will get to where you want to be in trading, Jamz. Just don't stop discovering, thinking outside the box, self-reflecting and learning. One has to start somewhere...The weekend starts here... Trade well
EDIT: Crickey! That must be the longest post I've ever written. Hope it's not the most boring one
mind over matter
- #19,030
- Oct 31, 2013 7:59pm Oct 31, 2013 7:59pm
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
{quote} Moving SL to BE can be a tricky business. I don't often do it as soon as with the last trade as I've been burnt too many times, and I know exactly what it feels like to be kicked out of a good trade too early. Normally, if PA is behaving, I would wait for a clear swing point to form before I set BE+x. I am not very keen on scalping. It makes me nervous. Instead, I've taken a liking to the combination of basic TA (horizontal S/R, TLs, S/D zones and, RJ please forgive me, Japanese candlesticks) on HTFs and Genesis as the ultimate confirmation...
We all do it differently, but as the year has progressed and I have got more and more focused on investigating Genesis and trading smarter, I have now realised that I have been trading quite poorly. Yes, the winning trades have been impressive with the number of pips, and I'm certainly not complaining...lol....but MM is where the real road to riches resides
From here on in, all I want is 30 pips....(anything else is gratefully accepted of course), and I will enter the data into the spreadsheet.
Consequently, I might not be here for so many hours on a daily basis from next year, we'll see.
At the end of the day though Jo....skin the cat whichever way suits you best
Doing what you like is Freedom. Liking what you do is Happiness.
- #19,031
- Oct 31, 2013 9:15pm Oct 31, 2013 9:15pm
- Joined Feb 2013 | Status: constructively provocative | 1,505 Posts
{quote} You must trade which ever way suits you Jo.....I have no problem with that! Just have to be aware though, that striving to catch those 300+ swings (imo) is a fools game and (also imo) leads to more stress that M1 trading. Case in point....EJ has made a nice 30 pip drop this morning (kiwi time), and 30 pips is all that's required....and I've been trading less than 3 hours. Even on the M5 standard Genesis.....it's up to 27 pips so far
I totally agree about MM. I think of it as car (account) tuning. Once I learn to drive (trade) well and deliver consistent monthly profits or a consistent average of pips/month, the time will come to employ the horse power of maths.
P.S. I'm not sure if your cat likes the expression you like to use...lol...
mind over matter
- #19,032
- Oct 31, 2013 9:33pm Oct 31, 2013 9:33pm
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
P.S. I'm not sure if your cat likes the expression you like to use...lol...
Doing what you like is Freedom. Liking what you do is Happiness.
- #19,033
- Oct 31, 2013 9:46pm Oct 31, 2013 9:46pm
- Joined Feb 2013 | Status: constructively provocative | 1,505 Posts
{quote} Meet Pussy cat..... {image}
Good night
mind over matter
- #19,034
- Nov 1, 2013 2:06am Nov 1, 2013 2:06am
{quote} You must trade which ever way suits you Jo.....I have no problem with that! Just have to be aware though, that striving to catch those 300+ swings (imo) is a fools game and (also imo) leads to more stress that M1 trading. Case in point....EJ has made a nice 30 pip drop this morning (kiwi time), and 30 pips is all that's required....and I've been trading less than 3 hours. Even on the M5 standard Genesis.....it's up to 27 pips so far
Im w you on this one.................in my own way of course.
When I started in 4x everything I read prescribed that you needed 100k capital, trade/risk 1% and you would need 500 pips per week to make 5k profit per week. Thats a lot of pips, and a long road for working people who have limited time to trade, little capital and little experience.
I have adjusted my MM model to: (after I restore my account balance to even)
- risk 3%
- Average S/L 15 pips
- Average profit 20 pips
- Win rate 60%
- Weekly target (only if the opportunities fall in line) net 30 pips after commissions etc. (thats 6 pips per day profit)
Now, w 10k capital and 200 trading days for the year you have a compounding profit of over 108k. That over 1000% ROI.
The key, is stick to the stop loss. (manage your losses properly and the gains will come)
If everyone here only took good Genesis Matrix signals and stuck to the S/L, I know the results would actually be much better than my model.
The sticky part for some I think will be when you get into dealing w larger sums of money per trade.
There are simple ways around this, like when you get up to say 4 lot trades you trade 4 lots per trade for a month even if your going great guns.
Im lucky to have had 3 start up businesses of my own (1 good, 2 bad) and dealt w money up to the $1M mark, so when its money time Im ok because Ive had experience making and losing money.
Remember none of the money you make doing this was yours to begin with, so the odd loss here and there doesnt matter.
This week I have made 2 trades for a net gain of 50 pips.
More importantly, I have maintained discipline and patience and not taken any bad trades. I let 3 other trades go because there was something about them that didn't smell quite right..................they all went on to be good trades of course.
The point is, 2 straight forward trades and Im way ahead of target.
I dont need masses of pips, and I dont need to squeeze every last pip out of each trade. The 2 wins this week I only took the meat out of the trade. I didnt bother w the 3 veg, and kept pressure off the entry and the exit.
When Im up river, fly fishing, I only bring back what I need.......a couple for the family, 1 for the solicitor and 1 for the dentist............thats all I need, the rest I put back.
J
Winning isnt everything but coming second sucks (Charlie Brown)
{quote} Hi RJ Im w you on this one.................in my own way of course. When I started in 4x everything I read prescribed that you needed 100k capital, trade/risk 1% and you would need 500 pips per week to make 5k profit per week. Thats a lot of pips, and a long road for working people who have limited time to trade, little capital and little experience. I have adjusted my MM model to: (after I restore my account balance to even) risk 3% Average S/L 15 pips Average profit 20 pips Win rate 60% Weekly target (only if the opportunities fall in...
You don't bother with the 3 veg.....what about the mash?
PM1
- #19,036
- Nov 1, 2013 2:20am Nov 1, 2013 2:20am
{quote} Good post J. You've got it sussed!!
J.
Winning isnt everything but coming second sucks (Charlie Brown)
- #19,037
- Nov 1, 2013 2:26am Nov 1, 2013 2:26am
{quote} Hi RJ Im w you on this one................ The 2 wins this week I only took the meat out of the trade. I didnt bother w the 3 veg, and kept pressure off the entry and the exit. When Im up river, fly fishing, I only bring back what I need.......a couple for the family, 1 for the solicitor and 1 for the dentist............thats all I need, the rest I put back. J
What's the difference between a solicitor and a lawyer? RJ might know.....he's a committee man......
- #19,038
- Edited 3:34am Nov 1, 2013 2:57am | Edited 3:34am
{quote} How big were those ones you let go??? Good post J I see what you mean there and the patience thingy is harder than I thought. I still feel I'm missing out on trades and that just isn't true. What's the difference between a solicitor and a lawyer? RJ might know.....he's a committee man......
Solicitor/Lawyer/Attorney in NZ have all kind of fused to mean the same thing, they used to have different uses, but they take the money just the same. Not complaining, mine is very, very good.
I have put a lot of work in to waiting that extra 5 or 15 minutes for the trade to form properly, and what a difference it has made.
The biggest thing for me so far, is that I dont have to endure that awful minor pullback that twists your melon when you get in a tad too early...........because you think you are going to miss the move. WAIT for it to form properly, if its a good'un it will show.............if it isnt youll be patting yourself on the back.
J
EDIT:
If GU is a pair you trade, that move south has been building for a few hours....Ive been watching it closely, and w some money behind it, and GMX signal it looked good. But I had planned on drinking a nice bottle of Italian red and an early night. So............I drank the red, watched the move, and said to myself this is a great system. When youre not in the move, smile and wave boys, smile and wave.........like the penguins in Madagaskar.
J.
Winning isnt everything but coming second sucks (Charlie Brown)
- #19,039
- Nov 1, 2013 5:14am Nov 1, 2013 5:14am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Hmmm...not much going on with the pairs I watch....choppy Friday. The tequila is close by though...just in case!! 
Doing what you like is Freedom. Liking what you do is Happiness.
- #19,040
- Nov 1, 2013 5:25am Nov 1, 2013 5:25am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
What's the difference between a solicitor and a lawyer? RJ might know.....he's a committee man......
Doing what you like is Freedom. Liking what you do is Happiness.