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Genesis Matrix Trading

  • #19,641
  • Nov 29, 2013 4:47am Nov 29, 2013 4:47am
Sorry Bernhard,

Confused with Genesis dash.

I tried using it, but had some problem ages ago, cant remember, but as I only trade 2 pairs, it wasn't much use for me.

Oliverforex use to use it, but sadly he no longer graces us with his considerable fx knowledege
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #19,642
  • Edited 7:38am Nov 29, 2013 7:05am | Edited 7:38am
Quoting Bernhard
{quote} We may have a misunderstanding what I mean. Its the (new?) Matrix-Signals.mq4 Do I can use multiple timeframes? {image} {image}
The Matrix-Signals will only give you alerts on one timeframe and you can only use one instance in MT4 (ie. you can only run it on one chart.) Which timeframe is entirely up to you and depends on the timeframe you are trading off. The alerts it gives are the same as you can set in the Genesis Matrix indicator so it is not giving you any special signals you do not already have access to. It is useful if one wants to monitor many charts or if one needs a call to get back to the cahrts after being distracted.

If you want alerts for when multiple timeframes line up, the GMTS-Dash can give you that.
  • #19,643
  • Nov 29, 2013 10:09am Nov 29, 2013 10:09am
Quoting Xaphod
{quote} The Matrix-Signals will only give you alerts on one timeframe and you can only use one instance in MT4 (ie. you can only run it on one chart.) Which timeframe is entirely up to you and depends on the timeframe you are trading off. The alerts it gives are the same as you can set in the Genesis Matrix indicator so it is not giving you any special signals you do not already have access to. It is useful if one wants to monitor many charts or if one needs a call to get back to the cahrts after being distracted. If you want alerts for when multiple...

OK thank you. thats all great. Hope to get some pips next week with it.
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
  • #19,644
  • Nov 29, 2013 1:41pm Nov 29, 2013 1:41pm
  •  Jamz
  • | Joined May 2012 | Status: Tops and bottoms are for bikinis | 798 Posts
Right, no one is being hard on me so here are my thoughts. The GBPNZD trade I took was really quite a pointer to BAD trading - I thought RJ would have pounced on me but he must be mellowing - I guess the Duccatti is being unwrapped for summer - take a look.

Poor entry. Way to late so dangerous although it turned out well. Being rewarded for late entries may re-enforce bad trading habits.
Matrix and stochs showing no reason to exit. I know these big pips are not everyday trades but it is a sin to miss them when they appear.
I was patient enough as price pulled back so why the impatience to trade out? Move to +10 -- that is a daily target! Move to +20 -- an excellent target!
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  • #19,645
  • Nov 29, 2013 2:12pm Nov 29, 2013 2:12pm
Quoting Jamz
Right, no one is being hard on me so here are my thoughts. The GBPNZD trade I took was really quite a pointer to BAD trading - I thought RJ would have pounced on me but he must be mellowing - I guess the Duccatti is being unwrapped for summer - take a look. Poor entry. Way to late so dangerous although it turned out well. Being rewarded for late entries may re-enforce bad trading habits. Matrix and stochs showing no reason to exit. I know these big pips are not everyday trades but it is a sin to miss them when they appear. I was patient enough as...
Good analysis.
Surely, you can even benefit from it (besides casual pips): remember and never repeat this mistake again - that's the best thing you can do.
The single most important factor is having control of your own life.
  • #19,646
  • Nov 29, 2013 7:05pm Nov 29, 2013 7:05pm
Quoting Jamz
I was patient enough as price pulled back so why the impatience to trade out? Move to +10 -- that is a daily target! Move to +20 -- an excellent target!
Personally, I still think +26 is an ok exit, although I didn't pick up on your late entry, which does change things a little. Not only did you miss 20 pips by entering late, you must've ended up with a relatively high SL too? Risky indeed.

In terms of the exit, the real question is, what did you write in your journal as your reason / justification for exiting?
1 pip at a time ... if the entries are strong, the rest will follow ...
  • #19,647
  • Nov 29, 2013 9:16pm Nov 29, 2013 9:16pm
  •  Jamz
  • | Joined May 2012 | Status: Tops and bottoms are for bikinis | 798 Posts
Quoting antantnz
{quote} Personally, I still think +26 is an ok exit, although I didn't pick up on your late entry, which does change things a little. Not only did you miss 20 pips by entering late, you must've ended up with a relatively high SL too? Risky indeed. In terms of the exit, the real question is, what did you write in your journal as your reason / justification for exiting?

Yes, nothing wrong with the +26 I agree and I did recognize GBP going south so it wasn't a total bet type trade. I would make a mean boss! I interpret it like this: If the correct entry had gone ahead, there wouldn't have been an anxious wait through the pullback so the exit would have been looked at more calmly, not just Yay! Profits! I think that was my exit reason........
Thanks Antz for your points.......just trying to refine things here.....afterwards is easy......I have had a good week this week and want to continue that way.
Happy trading...
  • #19,648
  • Nov 29, 2013 9:18pm Nov 29, 2013 9:18pm
  •  Jamz
  • | Joined May 2012 | Status: Tops and bottoms are for bikinis | 798 Posts
Quoting Mikkk01
{quote} Good analysis. Surely, you can even benefit from it (besides casual pips): remember and never repeat this mistake again - that's the best thing you can do.

Right you are......cull the mistakes.......keep the good bits.....I still analyze my trades I think it a good habit.
  • #19,649
  • Nov 29, 2013 11:26pm Nov 29, 2013 11:26pm
Quoting PipMonster1
{quote} Maz, you've waited for M15 confirmation on the M5 chart......you are basically trading Genesis M15....... A good M5 signal with a rising M15 can be a good entry - some 5-6 bars earlier...............but what is the trend?? Your M15 chart gives that away......your trade is a somewhat CT so be prepared for a return to the dominant trend...............my thoughts anyway. PM1 EDIT - just checked chart - looks like retesting recent low......

Thanks PM1,

Yes, it was a CT trade and that's why i had moved my stoploss to breakeven as soon as it crossed 12 pips...should have taken 15 pips..but it moved drastically and BE got hit...

Yesterday's...trade going against me...irked me a lot...i re-worked my trading setup... it was my mistake to expect more from a CT trade...

Now, I will be trading M1, M5 setup from Monday...and will take trade in only direction of M30...

I think RJ's M1 trading style...is pulling us all to M1 TF....


mazprofx.:nerd:
Secret Lies in buy LOW sell HIGH concept keep working on it until u succeed
  • #19,650
  • Nov 30, 2013 12:08am Nov 30, 2013 12:08am
Quoting mazprofx
I think RJ's M1 trading style...is pulling us all to M1 TF
That's unfortunate if that's what is happening. We have the main thread strategy (M5 trading), and we have the 515 method which is tested and documented and we now have the M1 method which is also tested and documented. The M1 method was to see if we can combat the tight ranges that the markets get into sometimes, and still turn a profit......which we have proved can be done.

In a way, I'm 'damned if I do, and I'm damned if I don't'......with all the testing done and documented, *I* am enjoying the M1 method and am showing those trades. That doesn't mean that people have to follow which method I choose to use. The M5 method has been, and is a great TF to trade and is the mainstay of the system. The 515 method works well too. We are seeing some longer term trades taken by Spyderman, and that's fantastic because it's something that we need, that I am not going to do!!

There's no need to follow what I do.....the choices are up to the trader to make for him/herself, because it's their account and their money! I'm trading my account *for me*...and I'm showing some of my trades, but I don't want to, and nor is it my intention to get people to follow me!

I am interested in all trades taken with Genesis system, and all TF's too.....the more people post their charts, the better we all can learn.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #19,651
  • Nov 30, 2013 1:08am Nov 30, 2013 1:08am
Quoting realjumper
{quote} That's unfortunate if that's what is happening.
Yes, it is....atleast for me...

Earlier, I was trading 515 method...that works well too...But since your documentation on M1 trading...
I have tested it a lot...did a lot of demo trading...and found it a logical TF....which earlier i wouldn't.
I am not trading M1 only because RJ is trading it...moreover, because it works...
Though M1 is not meant for everyone...I think it suits my trading style...that's why...

mazprofx.:nerd:
Secret Lies in buy LOW sell HIGH concept keep working on it until u succeed
  • #19,652
  • Nov 30, 2013 1:14am Nov 30, 2013 1:14am
Quoting mazprofx
{quote} Yes, it is....atleast for me... Earlier, I was trading 515 method...that works well too...But since your documentation on M1 trading... I have tested it a lot...did a lot of demo trading...and found it a logical TF....which earlier i wouldn't. I am not trading M1 only because RJ is trading it...moreover, because it works... Though M1 is not meant for everyone...I think it suits my trading style...that's why... mazprofx.:nerd:
Perfect
Doing what you like is Freedom. Liking what you do is Happiness.
  • #19,653
  • Nov 30, 2013 1:22am Nov 30, 2013 1:22am
Quoting Jamz
Right, no one is being hard on me so here are my thoughts. The GBPNZD trade I took was really quite a pointer to BAD trading - I thought RJ would have pounced on me but he must be mellowing - I guess the Duccatti is being unwrapped for summer - take a look. Poor entry. Way to late so dangerous although it turned out well. Being rewarded for late entries may re-enforce bad trading habits. Matrix and stochs showing no reason to exit. I know these big pips are not everyday trades but it is a sin to miss them when they appear. I was patient enough as...
Hi Jamz

Late entries are only bad trades in my book if you have entered at the END of a run. Yes you got in a bit late, but look at the stochs............its still looking like a good trade 20 mins after your entry, and its still tradeable where you got in I think. The risk is different, and thats what you have to manage, as is the profit potential. I often take a late entry if it looks good and just book in some pips from the 'meat' of the trade. When I do take these trades, I manage the trade as if I got in at the optimum entry. I dont post those trades because I dont want to show profit trades that deviate form the system, which is the reason you got out early I bet.......but the reason you got in was because you KNEW that it was still a viable trade.

I dont even think its a bad habit trade, its just a different type of trade.

Your late entry probably looked like an early entry on a higher TF dont forget.

I wouldnt recommend that kind of trade to anyone new to trading or new to Genesis, but as RJ says.........................there are lots of ways to do this thing.

Cheers J.
Winning isnt everything but coming second sucks (Charlie Brown)
  • #19,654
  • Nov 30, 2013 3:16am Nov 30, 2013 3:16am
Quoting Jamz
{quote} Right you are......cull the mistakes.......keep the good bits.....I still analyze my trades I think it a good habit.
Sorry, that's not a good habit - it's an awesome habit more of an absolute must I would say. Every trader who's gonna be or already is successful has some sort of a journal. What is not measured can't be improved and trading is a continuous growth. Those who think they just remember everything suck - cause the simply can't
The single most important factor is having control of your own life.
  • #19,655
  • Edited 12:31pm Nov 30, 2013 3:49am | Edited 12:31pm
Quoting jjre65
{quote} I dont even think its a bad habit trade, its just a different type of trade.
I disagree.

Quoting Jamz
I was patient enough as price pulled back so why the impatience to trade out? Move to +10 -- that is a daily target! Move to +20 -- an excellent target! {image}
That's definitely NOT right (it's either a deviation from a trading plan or lack of management specs) which is not such a big deal to fix BUT in order to fix something you have to know what that something is, so here are my suggestions:

1) Dissect the trade once again (feelings, thoughts, actions)
2) What was good (according to the plan), keep on with that
3) What was bad (late entry - why?; impatient - what's the cause? - normally you should NEVER be impatient or feel nervous while trading, otherwise your judgement is clouDED which is almost DEAD), think about how to get rid of that crap
4) Act according to your resolutions

Seems to me you don't have a detailed plan for this kind of situation - think about it and write it down so that the next time you see a signal a little late you either stay out having YOUR reasons for that or get in and know exactly what to do without any impatient/nervous/dunno-when-to-exit-and-why-not-now/whatever kind of sh*t
The single most important factor is having control of your own life.
  • #19,656
  • Edited 3:40pm Dec 1, 2013 3:02pm | Edited 3:40pm
ONCE AGAIN FOREX FACTORY CAN'T GET IT RIGHT GRRRRRRRRRRR

PipMonster1 has just contacted me to say that the posting exemption I have given (some time ago) now no longer works and she is blocked from posting to our thread.....even though she is on my buddy list.

When FF gave us their previous round of 'enhancements' of this personalized 'subscription' bullshit, people were blocked from posting who previously could post, and just LAST WEEK, I found another member who was kicked out of the thread due to Forex Factories incompetence, lack of action when I brought this to their attention, and lack of COMMON COURTESY in communicating with me.

The 'development team' at FF are obviously 3rd rate programmers who cannot write a pretty basic database query to allow those on my buddy list to post on our thread.......the term MUPPETS fit well....grrrrrrrrrrrrrrrrrrrr

So to anyone else who could previously post to our thread, but now finds themselves blocked......send me a PM and I will do what I can. In PM1's case, she is on my buddy list but can't post, so there's nothing I can do except hassle TWEE and TWAN, (Forex Factory Member Relations) and you'd better believe that's exactly what I'm going to do.

And I will DEMAND that one of these FF clowns comes here, to our thread, and apologises to us and fixes THEIR own fucking mess.

I'm pissed right off with these idiots
Doing what you like is Freedom. Liking what you do is Happiness.
  • #19,657
  • Dec 1, 2013 3:25pm Dec 1, 2013 3:25pm
OK...now 2 more members have been in touch and can longer post.......keep the PM's coming because I am not going to rest until these FF MUPPETS fix up their mess and come here to apologise to us
Doing what you like is Freedom. Liking what you do is Happiness.
  • #19,658
  • Dec 1, 2013 3:26pm Dec 1, 2013 3:26pm
Quoting realjumper
OK...now 2 more members have been in touch and can longer post.......keep the PM's coming because I am not going to rest until these FF MUPPETS fix up their mess and come here to apologise to us
Go hard RJ..............................3 ring circus

J
Winning isnt everything but coming second sucks (Charlie Brown)
  • #19,659
  • Dec 1, 2013 3:31pm Dec 1, 2013 3:31pm
Wow, that's interesting, now I can post!
Edit: 2 minutes ago tried several times - didn't manage
The single most important factor is having control of your own life.
  • #19,660
  • Dec 1, 2013 3:35pm Dec 1, 2013 3:35pm
Quoting Mikkk01
Wow, that's interesting, now I can post! Edit: 2 minutes ago tried several times - didn't manage
Ok, good. Maybe we're getting their attention...at last
Doing what you like is Freedom. Liking what you do is Happiness.
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