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Genesis Matrix Trading

  • #19,281
  • Nov 15, 2013 5:54am Nov 15, 2013 5:54am
Hi to everybody

Nothing for me to trade tonight, didnt get home from work til an hr after LO

Had a very good 3 weeks. 8 wins from 9 [inc. BE +2 x 2 so maybe it should read 6 from 9] and profit target hit each week plus a few, thanks to sticking to my trading style, and more importantly, observing my stop loss threshold without fail......I havent manipulated it mid trade or entered trades where it was out of bounds. This is basic risk/MM but its a harder potato to peel than it seems. I have found the value in risk management, and my account speaks for it. Marty posted not long ago that the more he trades to his rules the better he does, despite his in depth knowledge and passion for world economics.....its a very good post if you havent read it. Short story = trade what you see not what you think.

Ive sorted out a discipline issue re trading journal aswell, I wasnt doing it at all. WRONG!

Yes Im travelling nicely......but why and where do I need to improve?
The journal showed that Im still exiting trades too early, but that my risk management is good......so Im making the right mistakes that dont cost alot, but I could profit correctly from by not getting shaken out of trades. I know that this is a reaction to my dark week, and I know that Im in survival mode until I get back to even, and Im ok w that, cause thats what it takes.

Hope you all have a nice weekend

J.
Winning isnt everything but coming second sucks (Charlie Brown)
  • #19,282
  • Nov 15, 2013 10:03am Nov 15, 2013 10:03am
Quoting jjre65
but I could profit correctly from by not getting shaken out of trades.
Interesting post JJ.

I believe it helps opening up, as looking inwards, may only compound the problem.

One of my biggest break-throughs happened while chatting to my brother-in-law.

But I was lucky as his job, is coaching Phd students in simulation project/scenerios. So while he didnt understand the subject, he knew the right question to ask.

Re getting shaken out of trades, this is where, I believe looking at HTFs helps.

Someone posted here awhile ago, H4 had no relevance to M5/M1 trading; but I disagree.

It may not effect your entry signal, but it SHOULD affect your exit.

For me if H1 and H4 trends/stochs are alligned, I am more likely to scale into a trade at a pivot point, where as if H1 & H4 are in opposite trends, I will more likely close at a pivot point.

Big Difference. On big breakouts I see many LTF traders, close out, at the time I am either entering or scaling in. AND that is where the money is. IMHO
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #19,283
  • Nov 15, 2013 10:29am Nov 15, 2013 10:29am
Quoting realjumper
I see that GJ is tapping on the 161.00 BRN, and GU is below 1.6100 BRN..... spooky!
Not if UJ was 100.00
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #19,284
  • Nov 15, 2013 10:41am Nov 15, 2013 10:41am
Quoting Martyfish
{quote} Interesting post JJ. I believe it helps opening up, as looking inwards, may only compound the problem. One of my biggest break-throughs happened while chatting to my brother-in-law. But I was lucky as his job, is coaching Phd students in simulation project/scenerios. So while he didnt understand the subject, he knew the right question to ask. Re getting shaken out of trades, this is where, I believe looking at HTFs helps. Someone posted here awhile ago, H4 had no relevance to M5/M1 trading; but I disagree. It may not effect your entry signal,...
Marty

Anything else you look at specifically for the H1/H4 TFs?
  • #19,285
  • Edited 1:57pm Nov 15, 2013 12:09pm | Edited 1:57pm
Quoting RainyDay1
{quote} Marty Anything else you look at specifically for the H1/H4 TFs?
Yes, my MAs.

For example today EJ & GU, the H1 EMA5 stayed above the EMA30 (and SMA60) all day.

EJ Bounced of the H1 EMA30 @ 6:30 this morning, and stayed in up trend all day;
GU bounced off the H1 EMA30 twice 9:30 (also DP) & 13:15, just prior to news both times, lovely fakeouts

I cheat a bit , I have the H1 EMA5 and EMA30 on my M15 chart; and M30 EMA5 & EMA30 on M5 chart.

RJ would be horrified if he saw my chart - 5 MAs on my chart - oh the shame of it !!
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #19,286
  • Nov 15, 2013 2:49pm Nov 15, 2013 2:49pm
Quoting Martyfish
{quote} Interesting post JJ. I believe it helps opening up, as looking inwards, may only compound the problem. One of my biggest break-throughs happened while chatting to my brother-in-law. But I was lucky as his job, is coaching Phd students in simulation project/scenerios. So while he didnt understand the subject, he knew the right question to ask. Re getting shaken out of trades, this is where, I believe looking at HTFs helps. Someone posted here awhile ago, H4 had no relevance to M5/M1 trading; but I disagree. It may not effect your entry signal,...
Hi Marty

Thanks for your response.........insightful and succinct as always.

Posting like I do carries a certain amount of risk. Its not hard to look silly when you dont know alot, but Im here to learn, and its my way of contributing to the thread and showing gratitude for the hard work the team and the senior members have put in. Aside from looking after my own interests, Im certain there are Genesis friends who are on the same learning curve as me, and who benefit from my transparency and the responses from senior members like you.

Re getting shaken out of trades, Im like a man dying of thirst in a desert, holding on to drops of water while standing in the middle of the oasis. But I know this is a temporary problem that will wane as my confidence grows with each week that I restore my account balance.

I agree w your H1/H4 confluence comment. My best trades and the only trades I have scaled in to [admittedly on demo] have been when all TFs up to H4 were peeling out of OB/OS at the same time. The momentum behind this kind of set up is strong. However, these set ups are rare, for someone like me who gets about 15 hrs trading time per week. I also agree w RJ that H4 doesnt have any real relevence to 5-15 Genesis trading for the reason that consulting H4 will keep you out of perfectly good set ups that deliver 20/50/70+ pips.
Bearing in mind that Im talking entries and youre talking exits, Im going to pay a different kind of attention to H4 at exit time where pivots are present. Thanks for sharing more of your strategy, and thanks again for your time. Genesis is a great system, not just because of its power as a trading method but because of the people who are members. 19,000 posts and the system is still pure and profitable, and the tone set by RJ and maintained by the senior members still polite and pragmatic.............doesnt exist anywhere else on this forum that Im aware of.

Cheers J.
Winning isnt everything but coming second sucks (Charlie Brown)
  • #19,287
  • Nov 15, 2013 4:36pm Nov 15, 2013 4:36pm
Quoting Martyfish
{quote} Not if UJ was 100.00
The matching numbers was what I was referring to Marty... GJ at 161.00.....and GU at 1.6100
Doing what you like is Freedom. Liking what you do is Happiness.
  • #19,288
  • Nov 15, 2013 4:38pm Nov 15, 2013 4:38pm
Quoting jjre65
Hi to everybody Nothing for me to trade tonight, didnt get home from work til an hr after LO Had a very good 3 weeks. 8 wins from 9 [inc. BE +2 x 2 so maybe it should read 6 from 9] and profit target hit each week plus a few, thanks to sticking to my trading style, and more importantly, observing my stop loss threshold without fail......I havent manipulated it mid trade or entered trades where it was out of bounds. This is basic risk/MM but its a harder potato to peel than it seems. I have found the value in risk management, and my account speaks...

Nice going J.......as we've discussed here many time, consistency is the key to this business. If you can string together a decent win/loss ratio, then you'll do fine. No hurry though.....patience is the holy grail
Doing what you like is Freedom. Liking what you do is Happiness.
  • #19,289
  • Nov 15, 2013 4:42pm Nov 15, 2013 4:42pm
Quoting Martyfish
{quote} Yes, my MAs. For example today EJ & GU, the H1 EMA5 stayed above the EMA30 (and SMA60) all day. EJ Bounced of the H1 EMA30 @ 6:30 this morning, and stayed in up trend all day; GU bounced off the H1 EMA30 twice 9:30 (also DP) & 13:15, just prior to news both times, lovely fakeouts I cheat a bit , I have the H1 EMA5 and EMA30 on my M15 chart; and M30 EMA5 & EMA30 on M5 chart. RJ would be horrified if he saw my chart - 5 MAs on my chart - oh the shame of it !!
I certainly would be horrified!! However, whatever floats your boat!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #19,290
  • Nov 15, 2013 6:32pm Nov 15, 2013 6:32pm
Quoting realjumper
{quote} Nice going J.......as we've discussed here many time, consistency is the key to this business. If you can string together a decent win/loss ratio, then you'll do fine. No hurry though.....patience is the holy grail
Thanks RJ

Sometimes I think my av S/L of 20 pips is a bit conservative for 5-15 when PA is volatile [my maximum S/L is 25 pips], but if I extend it I then have to extend my profit target of 25 pips to make my MM work.
Looking back at your 5-15 test results there are plenty of 30+ S/L trades which had corresponding rewards.
The last 3 weeks has shown me how important it is to trade within the MM plan. A constant S/L to T/P ratio is as important as R:R I reckon.
It would be disastrous to jump from av 20 S/L to a 50 S/L trade [even w a R:R of 1:2 or more] and lose that trade, wiping out the profit of multiple win trades.
Im not going to change anything now as what Im doing is working and Im chuffed, its just a thought for later on.

Hope youre enjoying the weekend

J
Winning isnt everything but coming second sucks (Charlie Brown)
  • #19,291
  • Nov 17, 2013 4:07pm Nov 17, 2013 4:07pm
Wide spreads GJ, GU, EA this morning on Pepperstone

J
Winning isnt everything but coming second sucks (Charlie Brown)
  • #19,292
  • Nov 17, 2013 4:34pm Nov 17, 2013 4:34pm
Quoting jjre65
Wide spreads GJ, GU, EA this morning on Pepperstone J
Always is at the beginning of the market
Doing what you like is Freedom. Liking what you do is Happiness.
  • #19,293
  • Nov 18, 2013 3:06am Nov 18, 2013 3:06am
I'm long EU
  • #19,294
  • Nov 18, 2013 3:37am Nov 18, 2013 3:37am
Quoting nikz
I'm long EU
Long EA from around the same time ...
1 pip at a time ... if the entries are strong, the rest will follow ...
  • #19,295
  • Nov 18, 2013 3:45am Nov 18, 2013 3:45am
Quoting antantnz
{quote} Long EA from around the same time ...
Hi

Stochs looked nice for that. Seems to be travelling ok
Didnt take it..............bit early in the week for me for CTs
Waiting to see if a short re entry opportunity forms

Good luck
Winning isnt everything but coming second sucks (Charlie Brown)
  • #19,296
  • Nov 18, 2013 4:10am Nov 18, 2013 4:10am
Quoting jjre65
{quote} Hi Stochs looked nice for that. Seems to be travelling ok Didnt take it..............bit early in the week for me for CTs Waiting to see if a short re entry opportunity forms Good luck
Stochs were very good but as you say, was also very CT ... as it seems to have run out of puff I've already exited for around +3 ... bedtime and trade does not look strong enough (at this point in time) to leave running.
1 pip at a time ... if the entries are strong, the rest will follow ...
  • #19,297
  • Nov 18, 2013 4:20am Nov 18, 2013 4:20am
Quoting antantnz
{quote} Stochs were very good but as you say, was also very CT ... as it seems to have run out of puff I've already exited for around +3 ... bedtime and trade does not look strong enough (at this point in time) to leave running.
+3 is a good loss

Im sure I would have got out when you did

J
Winning isnt everything but coming second sucks (Charlie Brown)
  • #19,298
  • Nov 18, 2013 7:14am Nov 18, 2013 7:14am
Quoting antantnz
{quote} Stochs were very good but as you say, was also very CT ... as it seems to have run out of puff I've already exited for around +3 ... bedtime and trade does not look strong enough (at this point in time) to leave running.
The M30/H1 Stoch was looking very good though ... wide mouth and both headed up.

But bedtime is bedtime ...
  • #19,299
  • Nov 18, 2013 8:10am Nov 18, 2013 8:10am
Quoting nikz
I'm long EU
Finally closed for +20
  • #19,300
  • Nov 19, 2013 1:09am Nov 19, 2013 1:09am
Load of central bank yappers, going for it AGAIN today
I am a fallible imperfect person; so I must be a fallible imperfect trader.
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