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Genesis Matrix Trading

  • #20,421
  • Edited 9:06am Dec 17, 2013 8:43am | Edited 9:06am
Quoting spyderman
Okay... Need a little input from you pros on this. Took this G/J trade this morning. (Ignore the news spike for now. Didn't think US news would effect G/J but nearly got taken out.) Anyways...seems like conservative entry. Price went to about +15 by which time I was at BE +2. On 5m didn't really see much to exit. Stoch's still seemed strong. Anyways got taken out at BE+2 Seems to be happening consistently. Should I be quicker on my exits? Maybe take that candle close below 5MA on 5M? Thanks in advance. {image} {image}
I would not have taken the entry as it was just before the US CPI Data and as G/J is calculated thus GbpUsd x UsdJpy = GbpJpy there was the risk of a typical News Spike hitting your SL.....OR your TP - so for me - a pure gamble.

IF there had been no important news, then I too had a buy signal - OK, three bars earlier, so 2/3 pips. However, I had a S&R line around the 162.72 level from yesterday afternoon's price action and that, together with an increase in tick volume as the 5m stoch started to cross would have suggested banking those pips.

PS I am now short GJ....
PSS closed in the 14.44 candle - PA and 5m stoch crossing at ~3, also ~yesterday's low

PSSS Blast a turn of the hour stop sweep dropped it another 40 pips to the next S&R level....
Trading Levels with WRBs
  • #20,422
  • Dec 17, 2013 9:21am Dec 17, 2013 9:21am
Quoting spyderman
Okay... Need a little input from you pros on this. Took this G/J trade this morning. (Ignore the news spike for now. Didn't think US news would effect G/J but nearly got taken out.) Anyways...seems like conservative entry. Price went to about +15 by which time I was at BE +2. On 5m didn't really see much to exit. Stoch's still seemed strong. Anyways got taken out at BE+2 Seems to be happening consistently. Should I be quicker on my exits? Maybe take that candle close below 5MA on 5M? Thanks in advance. {image} {image}

I am no guru, but with hindsight I can look and sound like one!
The trade ticked almost all boxes and it was not to be discarded.
However:
There were some news: red flag!
Also, you can argue it was a CT, so immediately you need to use caution.
If you then look carefully, the area around 167.70/75 is a bit of a hotspot: PA bounced a number of times (even with the news) and then it was broken out in few some big(er) bars. That is a sign that there is something at that level, and in fact it was re-tested and there was a bit of a battle between bulls and bears for about 30 minutes, with the bulls unable to make any progress.
I am also tempted to mention a bit of divergence, but it does not show well on the sto used and it is not everybody’s cup of tea here, so I will pass.

So had I taken this trade, I would be happy to take some profit (if I had multiple lots) at 70, put the rest at BE and see what happens.
My 2c, hope it helps
  • #20,423
  • Dec 17, 2013 11:37am Dec 17, 2013 11:37am
Quoting spyderman
Okay... Need a little input from you pros on this. Took this G/J trade this morning. (Ignore the news spike for now. Didn't think US news would effect G/J but nearly got taken out.) Anyways...seems like conservative entry. Price went to about +15 by which time I was at BE +2. On 5m didn't really see much to exit. Stoch's still seemed strong. Anyways got taken out at BE+2 Seems to be happening consistently. Should I be quicker on my exits? Maybe take that candle close below 5MA on 5M? Thanks in advance. {image} {image}
Hi

When youre trading pullbacks/CTs on M1 you have to have a modest profit expectation, especially when the DP is coming back into play.
I you look at the matrix and the ASCT you can see there were some good indications that price might not continue north.
Watching the system signals during the trade is more important than watching price in my view.

I know this sounds a bit odd, but on obvious CTs or pullback trades I often take an aggressive entry because I know that there may not be many pips on offer, as long as the SL is manageable.

Cheers J
Winning isnt everything but coming second sucks (Charlie Brown)
  • #20,424
  • Dec 17, 2013 5:57pm Dec 17, 2013 5:57pm
Quoting spyderman
Okay... Need a little input from you pros on this. Took this G/J trade this morning. (Ignore the news spike for now. Didn't think US news would effect G/J but nearly got taken out.) Anyways...seems like conservative entry. Price went to about +15 by which time I was at BE +2. On 5m didn't really see much to exit. Stoch's still seemed strong. Anyways got taken out at BE+2 Seems to be happening consistently. Should I be quicker on my exits? Maybe take that candle close below 5MA on 5M? Thanks in advance. {image} {image}
I always have a 'split screen' with the M1 chart on the left, and the M5 chart on the right. Half a screen each is plenty to see what's going on. that way on the M5 I can see the immediate trend at all times, and on the M1 I can find a trade that agrees with the M5 immediate trend.

In the case of your trade, you were going against the immediate trend. IOW, since LO the trend had been going south, so your trade was certainly a CT trade. Given that it was CT, and even though the signal looked good, the choices are, take a small profit as J said, or treat this CT opportunity as a minor pullback, which it was, and ignore it. Had you done that, and had some more coffee of course , there was a conservative sell signal at around 16.62 (pepperstone time) that would have given you about 30 pips.

You 'got out of jail' at BE, and so the broker got nothing from you, which is good. But (to me) having the split screen is essential when M1 trading......
Doing what you like is Freedom. Liking what you do is Happiness.
  • #20,425
  • Dec 18, 2013 12:14am Dec 18, 2013 12:14am
Follow up on last 2 posts re CTs

Heres one eg on EA now.........have to be quick so next charts to follow
Attached Image (click to enlarge)
Click to Enlarge Name: ct.png Size: 42 KB
Winning isnt everything but coming second sucks (Charlie Brown)
  • #20,426
  • Dec 18, 2013 12:15am Dec 18, 2013 12:15am
Quoting jjre65
Follow up on last 2 posts re CTs Heres one eg on EA now.........have to be quick so next charts to follow {image}
M1
Attached Image (click to enlarge)
Click to Enlarge Name: ct2.png Size: 29 KB
Winning isnt everything but coming second sucks (Charlie Brown)
  • #20,427
  • Dec 18, 2013 12:16am Dec 18, 2013 12:16am
Quoting jjre65
{quote} M1 {image}
M5
Attached Image (click to enlarge)
Click to Enlarge Name: ctm5.png Size: 33 KB
Winning isnt everything but coming second sucks (Charlie Brown)
  • #20,428
  • Dec 18, 2013 12:22am Dec 18, 2013 12:22am
So the point Im trying to show is that there was an ok signal for a short, albeit M5 was shallow, but that profit potential has to be moderate.

Im not in the trade, just trying to post a live eg.

The blue line on the 1st chart is where I would expect price to retrace back to its PA.

You can see the risk in CTs, and not waiting for trend to resume.

J
Winning isnt everything but coming second sucks (Charlie Brown)
  • #20,429
  • Dec 18, 2013 12:25am Dec 18, 2013 12:25am
Quoting jjre65
So the point Im trying to show is that there was an ok signal for a short, albeit M5 was shallow, but that profit potential has to be moderate. Im not in the trade, just trying to post a live eg. The blue line on the 1st chart is where I would expect price to retrace back to its PA. You can see the risk in CTs, and not waiting for trend to resume. J
Genesis doing its job
Attached Image (click to enlarge)
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Winning isnt everything but coming second sucks (Charlie Brown)
  • #20,430
  • Dec 18, 2013 12:34am Dec 18, 2013 12:34am
Quoting jjre65
{quote} Genesis doing its job {image}
EA and GJ have been the pick of the bunch from Tokyo open...and GN too it seems. I've been getting the car all sorted today so I missed Tokyo session, but hopefully someone took some money from the bank
Doing what you like is Freedom. Liking what you do is Happiness.
  • #20,431
  • Dec 18, 2013 12:38am Dec 18, 2013 12:38am
Quoting jjre65
{quote} Genesis doing its job {image}
Time to start thinking about an exit? TVI / T3
Attached Image (click to enlarge)
Click to Enlarge Name: tvi t3.png Size: 31 KB
Winning isnt everything but coming second sucks (Charlie Brown)
  • #20,432
  • Dec 18, 2013 12:43am Dec 18, 2013 12:43am
Quoting jjre65
{quote} Time to start thinking about an exit? TVI / T3 {image}
Exit at BE
Attached Image (click to enlarge)
Click to Enlarge Name: close at be.png Size: 43 KB
Winning isnt everything but coming second sucks (Charlie Brown)
  • #20,433
  • Dec 18, 2013 12:44am Dec 18, 2013 12:44am
Quoting jjre65
{quote} Time to start thinking about an exit? TVI / T3 {image}
Might wait for ASCTrend M1 change color, is time to close for CT trade, I think.
  • #20,434
  • Dec 18, 2013 12:51am Dec 18, 2013 12:51am
Quoting Raymond00
{quote} Might wait for ASCTrend M1 change color, is time to close for CT trade, I think.
It did pretty quickly

This is what you face in 28mins of a CT.................when you could wait 35 and catch the retracement, for much safer pips.

I take a fair number of CTs, but they average 10 - 15 pips, some go on for beauties, but a lot dont.....not for the faint hearted.

J
Winning isnt everything but coming second sucks (Charlie Brown)
  • #20,435
  • Dec 18, 2013 12:53am Dec 18, 2013 12:53am
Got a few RJ, 23 Pips from GJ as attached.

@jjre65, Thanks for showing us your stochs method. Yesterdays Tokyo session was very tricky indeed.
However today, i only take trades when the M5, M15, H1 & H4 Agree. This has saved me from some crappy trades…

ExcessFX
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2013-12-18 at 7.38.36 pm copy.jpg Size: 710 KB
Learn from your mistakes until you succeed. It's that simple.
  • #20,436
  • Dec 18, 2013 12:54am Dec 18, 2013 12:54am
Quoting realjumper
{quote} EA and GJ have been the pick of the bunch from Tokyo open...and GN too it seems. I've been getting the car all sorted today so I missed Tokyo session, but hopefully someone took some money from the bank
More MacGyver action!....................is there a summer trip on the cards?

Cheers J.
Winning isnt everything but coming second sucks (Charlie Brown)
  • #20,437
  • Dec 18, 2013 12:56am Dec 18, 2013 12:56am
Quoting ExcessFX
Got a few RJ, 23 Pips from GJ as attached. @jjre65, Thanks for showing us the your stochs method. Yesterdays Tokyo session was very tricky indeed. However today, i only take trades when the M5, M15, H1 & H4 Agree. This has saved me from some crappy trades… ExcessFX {image}
+23 in your back pocket is all good
Doing what you like is Freedom. Liking what you do is Happiness.
  • #20,438
  • Dec 18, 2013 12:58am Dec 18, 2013 12:58am
Quoting jjre65
{quote} More MacGyver action!....................is there a summer trip on the cards? Cheers J.
LOL.....yeah.....gonna be heading over to Taranaki for Christmas/New Year, then up the coast to Raglan, back down to the King Country to visit big sister and then to Taihape to visit my niece (the chef) to sample her mashed potato

After that, across to Napier for a few days and then home
Doing what you like is Freedom. Liking what you do is Happiness.
  • #20,439
  • Dec 18, 2013 12:59am Dec 18, 2013 12:59am
Quoting ExcessFX
Got a few RJ, 23 Pips from GJ as attached. @jjre65, Thanks for showing us your stochs method. Yesterdays Tokyo session was very tricky indeed. However today, i only take trades when the M5, M15, H1 & H4 Agree. This has saved me from some crappy trades… ExcessFX {image}
Well done!

Though I am an M1 trader, I still use the stochinator to gauge what kind of profit expectancy might be on offer. When they are all lined up, you know there is some momentum behind the move.............in a cautiously confident way of course.

Cheers j.
Winning isnt everything but coming second sucks (Charlie Brown)
  • #20,440
  • Dec 18, 2013 1:02am Dec 18, 2013 1:02am
Quoting realjumper
{quote} LOL.....yeah.....gonna be heading over to Taranaki for Christmas/New Year, then up the coast to Raglan, back down to the King Country to visit big sister and then to Taihape to visit my niece (the chef) to sample her mashed potato After that, across to Napier for a few days and then home
Very droll..............not drool

Lovely time of year for motoring............coffee thermos sorted and at the ready I imagine.

J
Winning isnt everything but coming second sucks (Charlie Brown)
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