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Genesis Matrix Trading

  • #21,841
  • Feb 19, 2014 2:17am Feb 19, 2014 2:17am
Quoting Sjr
{quote} Maybe I should just take quick profits for those trades in future ...??? Still working things out.... Cheers SR
It's a tricky one ... the answer to the question is, is that +5 pips the further-est that trade is going to go? Unfortunately, that's something you cannot know. And we have all been there, trades that only go +5 and then reverse, or +1 then reverse, sometimes even + 0 then reverse.

From my point of view, the best solution is to only enter the HPTs. Have I perfected that myself? Certainly not! But, it something that I keep aiming for. And that means :

  1. strong setups
  2. during times when pairs are known to move

The people that do trade during Tokyo - RJ, Jjre, and a few others - do tend to focus on GJ, EA, and a lesser extent EJ. This is because these are pairs that are known to move well during that session. I don't think there's many of the experienced guys trading EU / GU during that time. If RJ and the like are being successful on those pairs, in the beginning at least, it's a good idea to use those same ones, at least until things are more worked out.

Hope that helps!

1 pip at a time ... if the entries are strong, the rest will follow ...
  • #21,842
  • Feb 19, 2014 2:19am Feb 19, 2014 2:19am
Quoting asithaya
hmm, I also have noted that in some cases HA candels got me distracted . But have never traded without candels, should try.
Have a look at the 'IFR Trading' link on Post#1....it's a great exercise to instill faith in the system, rather than getting mesmerized by the movement of the candles....It's an exercise I do most weekends, and jjre65 is trading live in this way. Check out his posts.....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #21,843
  • Feb 19, 2014 2:20am Feb 19, 2014 2:20am
Yes it does.....Thx
  • #21,844
  • Feb 19, 2014 2:29am Feb 19, 2014 2:29am
Quoting realjumper
{quote} Have a look at the 'IFR Trading' link on Post#1....it's a great exercise to instill faith in the system, rather than getting mesmerized by the movement of the candles....It's an exercise I do most weekends, and jjre65 is trading live in this way. Check out his posts.....
Thank you , i have read that post and tried to trade using the simulator some months ago, But i thing MTF-Stochastic is not working in the simulator. I will try to trade without candles in a demo account.
gEt BusY LiVinG oR Get bUsy dyIng
  • #21,845
  • Feb 19, 2014 2:34am Feb 19, 2014 2:34am
Quoting asithaya
{quote} Thank you , i have read that post and tried to trade using the simulator some months ago, But i thing MTF-Stochastic is not working in the simulator. I will try to trade without candles in a demo account.
Yes that's true, the MTF indies will not work in the simulator......
Doing what you like is Freedom. Liking what you do is Happiness.
  • #21,846
  • Feb 19, 2014 2:52am Feb 19, 2014 2:52am
Quoting asithaya
{quote} I will try to trade without candles in a demo account.
Guess it is a personal thing.

I would always have candles showing, but during a trade only focus on my exit criteria indies, but couldn't imagine not being able to see, or want to look at candles behaving around S&R. I find it is good for my discipline to watch PA and indies.

I just "talk" myself to focus or exit criteria, and to let the trade breathe, and my breathing patterns, if I'm a little tense or undecided
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #21,847
  • Feb 19, 2014 3:21am Feb 19, 2014 3:21am
GBP news in 10 minutes.....might be something ....might not.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #21,848
  • Feb 19, 2014 3:51am Feb 19, 2014 3:51am
PA was too quick for me on GJ...still...early days yet
Doing what you like is Freedom. Liking what you do is Happiness.
  • #21,849
  • Feb 19, 2014 3:57am Feb 19, 2014 3:57am
Quoting realjumper
PA was too quick for me on GJ...still...early days yet
All seemed to happen about 30 seconds early on my charts - we shouldn't be surprised though. And now PA appears to be "resting" again.

Not an overly exciting night for me ... ah wells, there's always tomorrow.
1 pip at a time ... if the entries are strong, the rest will follow ...
  • #21,850
  • Feb 19, 2014 4:00am Feb 19, 2014 4:00am
Quoting antantnz
{quote} All seemed to happen about 30 seconds early on my charts - we shouldn't be surprised though. And now PA appears to be "resting" again. Not an overly exciting night for me ... ah wells, there's always tomorrow.
Yep......I'll be here for longer yet, but it's impossible to catch those moves. When the market 'digests' the news there might be something for us perhaps....I really feel like a cold beer though....11pm and still 26 degrees!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #21,851
  • Feb 19, 2014 4:41am Feb 19, 2014 4:41am
Just while we have a moment....have a look at this. This is the EA pair after LO. It's a trade I didn't take because I wasn't concentrating....doh....my fault.

Anyway.....although the M5 chart can't be seen, trust me, it was/is bearish. At the first blue vertical line there was a valid short entry. Yes the M15 stoch was a little flat, but I would have looked at entering here until......I see the swing high where the SL is placed was 30 pips away. I do not wish to have a SL of 30 pips with the PA today, especially when the likely TP would result in a 1:1 R:R only. If you cheated and used a tighter SL, you would probably have got stopped out and lost. So....when the SL is too expensive, just forget the trade...another will come.

And another one did come, sooner than expected in fact. The second opportunity was also valid.....even if you had waited another 5 minutes. The SL was only 12 pips, and the entry was slightly better than the previous opportunity.....yipee. So now we had a chance at a 1:3 R:R trade....MUCH better don't you think?

As you can see, the trade flew (without me ), so passing up on the expensive trade was a good thing.

The moral is....if the trade is too expensive....let it go. Don't cheat on the SL because you will probably lose. Just let the trade go and wait for another opportunity

EDIT: Although this is an M1 chart, the same rule applies no matter the TF traded
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Doing what you like is Freedom. Liking what you do is Happiness.
  • #21,852
  • Feb 19, 2014 5:04am Feb 19, 2014 5:04am
Quoting realjumper
Just while we have a moment....have a look at this. This is the EA pair after LO. It's a trade I didn't take because I wasn't concentrating....doh....my fault. Anyway.....although the M5 chart can't be seen, trust me, it was/is bearish. At the first blue vertical line there was a valid short entry. Yes the M15 stoch was a little flat, but I would have looked at entering here until......I see the swing high where the SL is placed was 30 pips away. I do not wish to have a SL of 30 pips with the PA today, especially when the likely TP would result...
In the second possible entry , stochs were narrow , isn't it ? Do you enter in narrow stochs ?
gEt BusY LiVinG oR Get bUsy dyIng
  • #21,853
  • Feb 19, 2014 5:09am Feb 19, 2014 5:09am
Quoting asithaya
{quote} In the second possible entry , stochs were narrow , isn't it ? Do you enter in narrow stochs ?
Given the bearish nature of the M5 (not shown) since not long after Tokyo open, I would have taken the entry. But you could have waited 5 minutes until they looked better if you wanted.......It's a shame (for me!) that I wasn't concentrating because I would certainly have taken this one
Doing what you like is Freedom. Liking what you do is Happiness.
  • #21,854
  • Feb 19, 2014 5:12am Feb 19, 2014 5:12am
RJ, would you consider this as potential entry on M5 GJ?
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  • #21,855
  • Feb 19, 2014 5:13am Feb 19, 2014 5:13am
Quoting realjumper
{quote} Given the bearish nature of the M5 (not shown) since not long after Tokyo open, I would have taken the entry. But you could have waited 5 minutes until they looked better if you wanted.......It's a shame (for me!) that I wasn't concentrating because I would certainly have taken this one
Don't bankrupt banks in one day
gEt BusY LiVinG oR Get bUsy dyIng
  • #21,856
  • Feb 19, 2014 5:20am Feb 19, 2014 5:20am
Quoting nikz
RJ, would you consider this as potential entry on M5 GJ? {image}
I wouldn't have taken it, no.After the drop, thanks to the GB news, I don't know whther the PA is going to retrace or not.....given the very bullish nature of the GBP at present.....just come off record highs in fact. As well, S1 is right below, which is also the 170.00 BRN, so before I considered a short entry, I would want to see the PA under the BRN....and be prepared for it to perhaps re-test the BRN befor heading down.

So all in all...it was far too risky, imo
Doing what you like is Freedom. Liking what you do is Happiness.
  • #21,857
  • Feb 19, 2014 5:26am Feb 19, 2014 5:26am
Some new members might have had trouble posting today. It seems that I didn't subscribe to one batch of new members...very sorry about that.....it's all fixed now.

Thanks for the heads up msdogan
Doing what you like is Freedom. Liking what you do is Happiness.
  • #21,858
  • Feb 19, 2014 5:40am Feb 19, 2014 5:40am
Quoting nikz
RJ, would you consider this as potential entry on M5 GJ?
Nikz, I took GU !! H1, M30 & M15 stochs too strong, for there not to be a continuation of the move
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #21,859
  • Feb 19, 2014 5:43am Feb 19, 2014 5:43am
Quoting realjumper
{quote} I wouldn't have taken it, no.After the drop, thanks to the GB news, I don't know whther the PA is going to retrace or not.....given the very bullish nature of the GBP at present.....just come off record highs in fact. As well, S1 is right below, which is also the 170.00 BRN, so before I considered a short entry, I would want to see the PA under the BRN....and be prepared for it to perhaps re-test the BRN befor heading down. So all in all...it was far too risky, imo
Thx, it's always good to hear your reasoning.
  • #21,860
  • Feb 19, 2014 5:52am Feb 19, 2014 5:52am
Quoting Martyfish
{quote} Nikz, I took it !! H1, M30 & M15 stochs too strong, for there not to be a continuation of the move

Two great traders using the same system (basically), but different approach, having great results!
Yes, H1 stoch was strong, plus M15, H1, H4 full matrix. But then again, as RJ said, you never know where it wil go after GB news...
Now it's around 170....
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