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Genesis Matrix Trading

  • #19,181
  • Nov 7, 2013 8:37am Nov 7, 2013 8:37am
Quoting Skat
{quote} That' right Marty,but in particular situation when news is about to be released, system/signals (for fews minutes untill news impact) cannot be trusted.. it is a gamble or high probability gamble if you are experienced and know much about economy.
Trading is a gamble.

But H1 chart doesn't lie, it said sell !! So I am not relying on my knowledge of economics, I am relying on the big bank's knowledge, who were the big sellers in GU to create that setup.

I interpreted my charts - not economics
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #19,182
  • Nov 7, 2013 8:55am Nov 7, 2013 8:55am
Quoting Martyfish
{quote} Trading is a gamble. But H1 chart doesn't lie, it said sell !! So I am not relying on my knowledge of economics, I am relying on the big bank's knowledge, who were the big sellers in GU to create that setup. I interpreted my charts - not economics
Yes Marty your point is valid ...
  • #19,183
  • Nov 7, 2013 9:05am Nov 7, 2013 9:05am
Even if we had read up on recent US economic news, and had a sophisticated spreadsheet, to determine potential GDP numbers - PA pre and post news, was the actions of all traders trading on US dollar pairs.

If my view was different from the majority (and even if my view was correct) is irrelevant, Mr Market wins.

Whats the saying "the market can stay illogical, for longer than I can stay liqiud" - something like that.

Occasionally, I freeze on entering a news trade, because my mind interferes, and says no, from an economic perspective that cant be right.

So my interpretation, gets in the way
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #19,184
  • Nov 7, 2013 3:03pm Nov 7, 2013 3:03pm
Quoting Martyfish
Sorry, not sure what you were joking about; the entry; the exit; the timing;the target ??? Apologies, when it comes to trading, I dont "joke"
The "joke" was that I would take 15 x 2 pip trades per week, like it was my trading style.

My apologies for not being clear.

Good to see some substantial pip harvesting

J.
Winning isnt everything but coming second sucks (Charlie Brown)
  • #19,185
  • Nov 7, 2013 7:34pm Nov 7, 2013 7:34pm
Heres a set up Im looking at
Have to go to work now so I cant wait for the trade to form or not
Id be interested in anyones opinion.
[H4 Stoch is bearish too]

Cheers J
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpjpym5 set up short.png Size: 59 KB
Click to Enlarge Name: gbpjpym5 set up stch.png Size: 42 KB
Winning isnt everything but coming second sucks (Charlie Brown)
  • #19,186
  • Nov 7, 2013 8:04pm Nov 7, 2013 8:04pm
Quoting jjre65
Heres a set up Im looking at Have to go to work now so I cant wait for the trade to form or not Id be interested in anyones opinion. [H4 Stoch is bearish too] Cheers J {image} {image}
Something to keep an eye on perhaps......
Doing what you like is Freedom. Liking what you do is Happiness.
  • #19,187
  • Nov 7, 2013 8:47pm Nov 7, 2013 8:47pm
  •  Jamz
  • | Joined May 2012 | Status: Tops and bottoms are for bikinis | 798 Posts
China making prices jump about -- they are doing very nicely thank you.

I just wish tentative news was abolished but even timed news has put my spreadsheet back a day.............because I forgot to read it first, doh!
Just when I was going so well, it's like being caught out by gravity....we know its there!
  • #19,188
  • Nov 8, 2013 12:37am Nov 8, 2013 12:37am
S&P just downgraded France to AA from AA+, with a negative outlook.
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #19,189
  • Nov 8, 2013 12:56am Nov 8, 2013 12:56am
Quoting Martyfish
S&P just downgraded France to AA from AA+, with a negative outlook.

Thanks......
Doing what you like is Freedom. Liking what you do is Happiness.
  • #19,190
  • Nov 8, 2013 1:31am Nov 8, 2013 1:31am
Quoting jjre65
Heres a set up Im looking at Have to go to work now so I cant wait for the trade to form or not Id be interested in anyones opinion. [H4 Stoch is bearish too] Cheers J {image} {image}

Still looking at GJ as it's touching the BRN again....and GU just did the same.....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #19,191
  • Nov 8, 2013 1:45am Nov 8, 2013 1:45am
Quoting realjumper
{quote} Thanks Marty....I won't take any pride in that one.....it was a risk I was prepared to take...but a loss would have wiped out all todays gains.
Just to confirm RJ that if PA had move north with same strength and speed,had you incurred only SL set(say 25 pips) or it may end up something more than SL due to execution impossible at that speed.
  • #19,192
  • Nov 8, 2013 1:52am Nov 8, 2013 1:52am
Quoting Skat
{quote} Just to confirm RJ that if PA had move north with same strength and speed,had you incurred only SL set(say 25 pips) or it may end up something more than SL due to execution impossible at that speed.
Quite possibly could have slipped out to a greater loss than the SL due to slippage because the move was so fast, as you said. I haven't experienced this with Pepperstone yet, but I'm pretty sure that it would have happened because the move was so instant.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #19,193
  • Nov 8, 2013 1:57am Nov 8, 2013 1:57am
Quoting realjumper
{quote} Quite possibly could have slipped out to a greater loss than the SL due to slippage because the move was so fast, as you said. I haven't experienced this with Pepperstone yet, but I'm pretty sure that it would have happened because the move was so instant.
thanks RJ.
  • #19,194
  • Nov 8, 2013 2:17am Nov 8, 2013 2:17am
Quoting Skat
{quote} thanks RJ.
No problem

Slippage is right pain in the ass which is why it's risky trading around major news. If you're not already 'in' and you enter, you may not get filled at the price you want......and if you are already in and the move goes the other way, your SL might slip a long way. Yesterday I was sure that ECB would either do nothing, in which case my SL may have been hit but I doubt it would have slipped because the market was expecting nothing to change...or....we would get the rate cut, which we did get, and there would be no SL sweep because the market wasn't expecting the rate cut!

So it was a gamble, but I think I was positioned pretty well and the end result was a 1:4 r/r win.......for a 28 pip risk.

I don't normally do that, but I couldn't resist this opportunity because I've been considering it for about a week since the bad EU news came out about the inflation level dropping to 0.7%. Draghi has not many bullets left to fire, so cutting the rate was an (almost) foregone conclusion.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #19,195
  • Nov 8, 2013 2:28am Nov 8, 2013 2:28am
Quoting realjumper
{quote} No problem Slippage is right pain in the ass which is why it's risky trading around major news. If you're not already 'in' and you enter, you may not get filled at the price you want......and if you are already in and the move goes the other way, your SL might slip a long way.[b] Yesterday I was sure that ECB would either do nothing, in which case my SL may have been hit but I doubt it would have slipped because the market was expecting nothing to change...or....we would get the rate cut, which we did get, and there would be no SL sweep...
Right Sir..get your point
  • #19,196
  • Nov 8, 2013 3:06am Nov 8, 2013 3:06am
Quoting realjumper
{quote} No problem Slippage is right pain in the ass which is why it's risky trading around major news. If you're not already 'in' and you enter, you may not get filled at the price you want......and if you are already in and the move goes the other way, your SL might slip a long way. Yesterday I was sure that ECB would either do nothing, in which case my SL may have been hit but I doubt it would have slipped because the market was expecting nothing to change...or....we would get the rate cut, which we did get, and there would be no SL...
Hi RJ

Would you mind expanding on the highlighted part of your post a bit.
Say for example you are in the trade +15 pips w SL of 20 and PA reverses at news by 40 pips in less than a couple of mins.

Thanks J.

PS: that GJ short panned out for some pips but I wouldnt have taken it on M5 as it was against H1 Stoch, unless it briefly pinched together and then straightened out again.
Winning isnt everything but coming second sucks (Charlie Brown)
  • #19,197
  • Nov 8, 2013 3:16am Nov 8, 2013 3:16am
Quoting jjre65
{quote} Hi RJ Would you mind expanding on the highlighted part of your post a bit. Say for example you are in the trade +15 pips w SL of 20 and PA reverses at news by 40 pips in less than a couple of mins. Thanks J. PS: that GJ short panned out for some pips but I wouldnt have taken it on M5 as it was against H1 Stoch, unless it briefly pinched together and then straightened out again.
Not sure I understand your question, but here goes:

Lets say my SL was at (say) 99.00 and my short trade was at (say) 98.70 and the PA, due to unexpected news instantly went up to 100.00, then by the time SL was tripped and processed, the price would already have shot way past my SL. So instead of my SL closing the trade at it's designated level of 99.00....it might not have been able to close the trade until much later...maybe 99.50 or worse.

It takes time for the SL to get tripped and close the trade, and in a super fast moving market, it might not be possible for the server to process the SL at the designated level...hence....slippage.

Is that what you mean?
Doing what you like is Freedom. Liking what you do is Happiness.
  • #19,198
  • Nov 8, 2013 3:35am Nov 8, 2013 3:35am
Quoting realjumper
{quote} Not sure I understand your question, but here goes: Lets say my SL was at (say) 99.00 and my short trade was at (say) 98.70 and the PA, due to unexpected news instantly went up to 100.00, then by the time SL was tripped and processed, the price would already have shot way past my SL. So instead of my SL closing the trade at it's designated level of 99.00....it might not have been able to close the trade until much later...maybe 99.50 or worse. It takes time for the SL to get tripped and close the trade, and in a super fast moving market,...
Exactly

Thank you very much

Still got your eye on GJ?

J
Winning isnt everything but coming second sucks (Charlie Brown)
  • #19,199
  • Nov 8, 2013 3:40am Nov 8, 2013 3:40am
Quoting jjre65
{quote} Exactly Thank you very much Still got your eye on GJ? J
Yep...still got my eye on it, but it's not doing much yet. Had a quick scalp on EJ, but GJ is being a bit more difficult.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #19,200
  • Nov 8, 2013 5:57am Nov 8, 2013 5:57am
France’s Hollande: Current economic policy is the only one that will ensure Frances credibility

“Government will take all necessary savings measures without endangering Frances welfare model. Low market interest rates are testament to French credibility."

Yeah right, more like down the plug-hole !!
I am a fallible imperfect person; so I must be a fallible imperfect trader.
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