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Genesis Matrix Trading

  • #21,941
  • Feb 26, 2014 1:57am Feb 26, 2014 1:57am
! ' Come dice il proverbio ..... è meglio (per la vostra tasca) di essere fuori, volendo dentro ... che è di essere in, volendo fuori! [/ Quote]

RJ holy words .....
Hello to all
  • #21,942
  • Feb 26, 2014 3:01am Feb 26, 2014 3:01am
Quoting realjumper
{quote} It certainly can be confusing....but if you spend some time on the weekend going back over some of the senior members charts, you might see that the trades they pick are very often really good ones. Also, you have to go back over your own charts and fine the absolute perfect trades that meet the requirements to a tee. In any given day, you might see (say) 8 pretty good set ups. Of those 8, perhaps 6 win and 2 lose. Of the 6 winners, perhaps 4 are small winners and the other 2 are reasonable. That's not a bad ratio at all.....but.....there...
thanks a lot for your personal tutoring, RJ!! well learned
one more I am just wondering: if a trade is taken, and you feel it is going to be against your diretion, will u manully exit or just wait for whether profits come or getting SL hits? shall I be monitoring the trade all the time or find some way to relax myself and just check the final result?
much appreciated!
patience is a virtue
  • #21,943
  • Feb 26, 2014 3:15am Feb 26, 2014 3:15am
Quoting Matrix8756
! ' Come dice il proverbio ..... è meglio (per la vostra tasca) di essere fuori, volendo dentro ... che è di essere in, volendo fuori! [/ Quote] RJ holy words ..... Hello to all



ciao
Doing what you like is Freedom. Liking what you do is Happiness.
  • #21,944
  • Feb 26, 2014 3:18am Feb 26, 2014 3:18am
Quoting Matrix8756
! ' Come dice il proverbio ..... è meglio (per la vostra tasca) di essere fuori, volendo dentro ... che è di essere in, volendo fuori! [/ Quote] RJ holy words ..... Hello to all
what is that mean ?

Thanks J. and RJ for that great advices
gEt BusY LiVinG oR Get bUsy dyIng
  • #21,945
  • Feb 26, 2014 3:25am Feb 26, 2014 3:25am
Quoting blueseahorse
{quote} thanks a lot for your personal tutoring, RJ!! well learned one more I am just wondering: if a trade is taken, and you feel it is going to be against your diretion, will u manully exit or just wait for whether profits come or getting SL hits? shall I be monitoring the trade all the time or find some way to relax myself and just check the final result? much appreciated!

When I enter a trade, I already know where the SL will be placed, and how expensive it will be if it gets hit. If it's going to be too expensive, then I can reduce the lots size traded to make the SL cost acceptable, or else I will just skip the trade completely. No point in having a 40 pip SL when the profit is going to be 20 pips!!

Also, we have to remember that the SL is there more as an emergency measure, rather than something that we will allow to be hit. It's there in case some idiot like Draghi says something wrong and causes a big spike at the wrong moment!!

Once the trade is entered and the SL is placed, if the trade starts looking bad.....ie the candles go the other way, the stochs turn over etc etc and everything is generally turning bad, then I will just cut the trade manually. No point in sitting there like a zombie watching your SL get hit.....if you've made a mistake and the trade turns around, take a manual exit and re-think the whole plan...over a cup of coffee

I generally do monitor my trade very closely, until I can get the SL into profit, so that the trade is safe....no matter what happens. Once that's done, then I can look for other opportunities. As the trade progresses, I will manually move my SL further into profit, and then go back to looking for other opportunities. Remember...I already have a target in mind (S1, R1, BRN or something), so I don't need to worry too much about it. Either it gets to my target or it stops me out in profit.....either way, I win!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #21,946
  • Feb 26, 2014 3:26am Feb 26, 2014 3:26am
Quoting asithaya
{quote} what is that mean ? Thanks J. and RJ for that great advices
It means: "it's better (for your pocket) to be out, wishing in....than it is to be in, wishing out!!! "
Doing what you like is Freedom. Liking what you do is Happiness.
  • #21,947
  • Feb 26, 2014 3:52am Feb 26, 2014 3:52am
Quoting realjumper
{quote} It means: "it's better (for your pocket) to be out, wishing in....than it is to be in, wishing out!!! "
gEt BusY LiVinG oR Get bUsy dyIng
  • #21,948
  • Feb 26, 2014 5:12am Feb 26, 2014 5:12am
Quoting blueseahorse
{quote} I am trading M5 on a demo account, got only a few months experience on forex, so called newbie hoping for learning and gaining from you experienced guys, thanks!
Something for you to look at concerning pairs correlation.......
Attached Image (click to enlarge)
Click to Enlarge Name: currency-pairs-correlation-chart.jpg Size: 147 KB
A MOUSE THAT ROARS IS STILL NOTHING MORE THAN A MOUSE!
  • #21,949
  • Feb 26, 2014 5:31am Feb 26, 2014 5:31am
Quoting realjumper
{quote} When I enter a trade, I already know where the SL will be placed, and how expensive it will be if it gets hit. If it's going to be too expensive, then I can reduce the lots size traded to make the SL cost acceptable, or else I will just skip the trade completely. No point in having a 40 pip SL when the profit is going to be 20 pips!! Also, we have to remember that the SL is there more as an emergency measure, rather than something that we will allow to be hit. It's there in case some idiot like Draghi says something wrong and causes a big...
understood!! so when one trade is taken, we monitor this trade until place SL to at least BE, then start looking for new trades, what about seeing 2 or 3 more good set up forming almost the same time, will u take all or pick one of the best u think will be most likely to be profitable? thank you!
patience is a virtue
  • #21,950
  • Feb 26, 2014 5:36am Feb 26, 2014 5:36am
Quoting scarlet pipe
{quote} Something for you to look at concerning pairs correlation....... {image}
hi scar, good stuff! I will add it as a "save as". thank you!!
patience is a virtue
  • #21,951
  • Edited 8:33am Feb 26, 2014 8:20am | Edited 8:33am
Closed EJ for +21.

EJ further down...Still not able to take good exit. I think, I should have manually trailed down like RJ said.

EDIT: Further Down by +27 pips in just 10 minutes..Total would have been +48..Lesson Learned..I should work on my exits(will try RJ style of managing trades).
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 46 KB
Secret Lies in buy LOW sell HIGH concept keep working on it until u succeed
  • #21,952
  • Feb 26, 2014 8:33am Feb 26, 2014 8:33am
Quoting mazprofx
Closed EJ for +21. EJ further down...Still not able to take good exit. I think, I should have manually trailed down like RJ said. {image}
same trade taken, +22 pips
entry reason: M5 and M15 stoch down,1H stoch agreed, 1H arrow forming
exit: round number, not a good exit maybe
Attached Image (click to enlarge)
Click to Enlarge Name: 8.jpg Size: 179 KB
patience is a virtue
  • #21,953
  • Feb 26, 2014 8:49am Feb 26, 2014 8:49am
Quoting blueseahorse
{quote} same trade taken, +22 pips entry reason: M5 and M15 stoch down,1H stoch agreed, 1H arrow forming exit: round number, not a good exit maybe {image}
Good. But, not great..

We both hurried on exit, if we would have been patient enough, then would have ended atleast taking more +20 pips..

Quoting realjumper
{quote} As the trade progresses, I will manually move my SL further into profit...I already have a target in mind (S1, R1, BRN or something), so I don't need to worry too much about it. Either it gets to my target or it stops me out in profit.....either way, I win!!
We both need to try, manual trailing as RJ said in his earlier post, Golden Words..
Btw, +22 is great to close the day..

EDIT: EJ approx +77 pips from my entry..It really hurts to see that..


mazprofx.
Secret Lies in buy LOW sell HIGH concept keep working on it until u succeed
  • #21,954
  • Feb 26, 2014 8:59am Feb 26, 2014 8:59am
Closed EJ at S2 for 76 pips
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #21,955
  • Feb 26, 2014 9:03am Feb 26, 2014 9:03am
Quoting Martyfish
Closed EJ at S2 for 76 pips
Simply Perfect..
Need to learn a lot from you..Marty.


mazprofx.
Secret Lies in buy LOW sell HIGH concept keep working on it until u succeed
  • #21,956
  • Feb 26, 2014 9:06am Feb 26, 2014 9:06am
Quoting mazprofx
{quote} Simply Perfect.. Need to learn a lot from you..Marty. mazprofx.
Lucky

It was just before US news and at S2.


Purely a guess

EDIT: Just saw your edit
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #21,957
  • Feb 26, 2014 9:07am Feb 26, 2014 9:07am
Quoting mazprofx
{quote} Good. But, not great.. We both hurried on exit, if we would have been patient enough, then would have ended atleast taking more +20 pips.. {quote} We both need to try, manual trailing as RJ said in his earlier post, Golden Words.. Btw, +22 is great to close the day.. EDIT: EJ approx +77 pips from my entry..It really hurts to see that.. mazprofx.
yup, but the entry can be called as HPT? the first thing is trying to find the good entry, right? exit skills need to be practiced, so many learnings to be caught up with
patience is a virtue
  • #21,958
  • Feb 26, 2014 9:18am Feb 26, 2014 9:18am
Quoting blueseahorse
{quote} yup, but the entry can be called as HPT? the first thing is trying to find the good entry, right? exit skills need to be practiced, so many learnings to be caught up with
yes, the entry was a HPT one, all stochs M5, M15, M30 were in agreement and a strong H1 stoch.

It would be good if you practice on exits, simultaneously (once u got good entry), because it needs more experience, more practice & tons of live trading hours, than entry. Just an advise, entry is first preference though.


mazprofx.
Secret Lies in buy LOW sell HIGH concept keep working on it until u succeed
  • #21,959
  • Feb 26, 2014 9:23am Feb 26, 2014 9:23am
Quoting Martyfish
{quote} Lucky It was just before US news and at S2. Purely a guess EDIT: Just saw your edit
It was not a guess..Stochs were still strong..and the trade never looked like turning around.
It went like bang on, to S2. U r just too humble to accept your greatness.
And, i m really embrassed, to end it up at +21.


mazprofx.
Secret Lies in buy LOW sell HIGH concept keep working on it until u succeed
  • #21,960
  • Feb 26, 2014 9:29am Feb 26, 2014 9:29am
Quoting mazprofx
And, i m really embrassed, to end it up at +21. mazprofx.
No need for "embarrass" just learn, practice, write notes to yourself, "talk" to yourself during the trade, and...

"Breathe" let yourself breathe and let the trade breathe !!
I am a fallible imperfect person; so I must be a fallible imperfect trader.
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