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Genesis - continuation

  • #21
  • Apr 5, 2014 5:44am Apr 5, 2014 5:44am
just my 2 cent about it:

first of all many depends on what type of traders you are (e.g.: pure scalper, swinger, intraday, multiday.......); in my case between from scalpers/intraday traders


Quoting demoreal
{quote}As I mentioned earlier higher time frame stochastic tends to change a lot and only after the fact it appears as if everything was nice and easy. If you wait for everything confirmed and proper, you often miss the train. I did some screen recording and was checking set ups while they were forming. Quite a few times they looked really nice at that time, just to turn sour afterwards.
I watch only M30 HTF stoch;



Quoting demoreal
{quote}IMO it’s difficult to do proper back testing
Impossible



Quoting demoreal
{quote}I've noticed you have ASCI trend indicator with 15m, 30m and 1H. These are arrows aren't they?
yeap



Quoting demoreal
{quote}So hourly was red all the time, but if you waited for 30m to turn red you would have missed a big chunk of move (assuming you waited for 30 minutes for confirmation as that color is fixed only after 30 minutes period finished). So short entry would have been around S2 - I wouldn't have entered there though. And yesterday was NFP, so price was quite enthusiastic. But on normal days it would mean entering at the end of the move, wouldn't it?
you're right; in any case I'd prefer having all red/white to open a trade
sometimes I enter anyway but I'm aware
  • #22
  • Apr 5, 2014 6:07am Apr 5, 2014 6:07am
Good to hear your observations Jimi.

As I mentioned I’m still trying to find the best way to make it work. At the moment I have few starting points - at the close of 5 minute candles I have fixed stochastic value, fixed matrix and see if arrow is near by (within few candles).

I don’t know what is the definition for that kind of trading, but I would ideally like to enter close to one pivot level and exit at another pivot level. Obviously for that size of moves I need compatible higher time frame values and I’m still taking chances most of the time without waiting for fixed values. Sometimes I’m lucky and the values stay as they were, sometimes not so lucky.

So all in all I manage to break even if I follow all the rules in the long run and even make profits if markets are system friendly. Invariably if I don’t follow the rules I end up with a loss.
  • #23
  • Apr 5, 2014 6:30am Apr 5, 2014 6:30am
anyone ever used this tool to determine the force of a currency versus anorther one?

http://www.currencynewstrading.com/3...ter-explained/
  • #24
  • Apr 5, 2014 6:33am Apr 5, 2014 6:33am
Quoting demoreal
Good to hear your observations Jimi. As I mentioned I’m still trying to find the best way to make it work. At the moment I have few starting points - at the close of 5 minute candles I have fixed stochastic value, fixed matrix and see if arrow is near by (within few candles). I don’t know what is the definition for that kind of trading, but I would ideally like to enter close to one pivot level and exit at another pivot level. Obviously for that size of moves I need compatible higher time frame values and I’m still taking chances most of the time...
in my humble opinion is much important determine when exactly the move starts and when we have occasion for reentry
for example, if you don't mind, try to take a look at the gold I posted earlier; there's a start of the move with both M5 and M15 stochs falling from OB area, and a second chanche to enter when M15 is "off the floor"

has it sense?
  • #25
  • Edited 7:32am Apr 5, 2014 7:11am | Edited 7:32am
Quoting jimi
{quote} in my humble opinion is much important determine when exactly the move starts and when we have occasion for reentry for example, if you don't mind, try to take a look at the gold I posted earlier; there's a start of the move with both M5 and M15 stochs falling from OB area, and a second chanche to enter when M15 is "off the floor" has it sense?
I’m assuming you entered after that candle with blue vertical line closed. Well at that time (from what I can see from the chart you posted) M5 stochastic crossed up and now M15 stochastic looks as if it was the right order for a short (although I wouldn’t be surprised if at that time temporary M15 stochastic was crossing up). Matrix had all the dots red, but that wouldn’t be good for me to enter because of M5 stochastic that was rising at that time.

I can’t see properly from the chart, but maybe where 5 m arrow was M5 stochastic crossed back - so would that be good entry point (it was near/above that level where price was stuck for hours in a small range) and M5 stochastic just about turning down after going up? Also there was some kind of pivot level there.

If you look back (maybe between 4 and 5am) stochs were dropping from overbought, but that set up failed.

PS I hope you don’t mind using your attachment
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  • #26
  • Apr 5, 2014 7:58am Apr 5, 2014 7:58am
Quoting demoreal
{quote} I’m assuming you entered after that candle with blue vertical line closed. Well at that time (from what I can see from the chart you posted) M5 stochastic crossed up and now M15 stochastic looks as if it was the right order for a short (although I wouldn’t be surprised if at that time temporary M15 stochastic was crossing up). Matrix had all the dots red, but that wouldn’t be good for me to enter because of M5 stochastic that was rising at that time. I can’t see properly from the chart, but maybe where 5 m arrow was M5 stochastic crossed...
nope, i did not enter at that point for some reasons:

a) middle Frankie session ahead LO;
b) ASC trend all white;
c) Round number just below

BUT

that's the beginning of the move, as I wrote in my earlier post

After that, is the movement started? Probably yes; so, let me see what will happen and if there'll be a chance to enter

In fact, AT THE SECOND BLUE LINE, we had:

- Ret of the DP;
- No obstacles downward;
- All Matrix red;
- All ASC trend red;
- Cheap SL;
- M5 stoch fallin from OB area;
- M15 stoch on the floor,


so what?
Enter and Kaboooom!!

hope it's more clear then earlier

what do you think about it?
  • #27
  • Edited 9:41am Apr 5, 2014 9:22am | Edited 9:41am
Quoting jimi
{quote} nope, i did not enter at that point for some reasons: a) middle Frankie session ahead LO; b) ASC trend all white; c) Round number just below BUT that's the beginning of the move, as I wrote in my earlier post After that, is the movement started? Probably yes; so, let me see what will happen and if there'll be a chance to enter In fact, AT THE SECOND BLUE LINE, we had: - Ret of the DP; - No obstacles downward; - All Matrix red; - All ASC trend red; - Cheap SL; - M5 stoch fallin from OB area; - M15 stoch on the floor, so what? Enter and Kaboooom!!...
At that time M15 stoch was 'on the floor' as you put it, but still rising (slowly and not crossed back down). So it's an obvious down trend, but entry is not according to Genesis rules (needs both M5 and M15 stochs to have crossed down). Even if M15 crossed the right way I wouldn't have liked it.

Also all ASC trend red as it already dropped a lot, so I would expect it to retrace (nothing to do with Genesis, but that's how I see all ASC red)
  • #28
  • Apr 7, 2014 12:43am Apr 7, 2014 12:43am
Need some advice right now. Entered short at 1.47676, SL at 1.47823 and TP at 1.47122. Would you guys keep this trade going or kill it now?
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  • #29
  • Apr 7, 2014 1:16am Apr 7, 2014 1:16am
took a long off DP aiming RN
not a bad R:R
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  • #30
  • Apr 7, 2014 1:18am Apr 7, 2014 1:18am
Quoting forex1016
Need some advice right now. Entered short at 1.47676, SL at 1.47823 and TP at 1.47122. Would you guys keep this trade going or kill it now? {image}
I don't like so much take a trade in the middle of Frankie
  • #31
  • Apr 7, 2014 1:28am Apr 7, 2014 1:28am
Quoting jimi
took a long off DP aiming RN not a bad R:R {image}

even in this case, just after the Genesis signal, price went down in the opposite direction...........already seen many times............
  • #32
  • Apr 7, 2014 1:31am Apr 7, 2014 1:31am
Quoting jimi
{quote} I don't like so much take a trade in the middle of Frankie
I would like to know if that was a valid trade. I'm still in short since SL wasn't hit and bear seem to resume.

Reasons for entry
1. overall trend is bearish.
2. m5,m15 and m30 stoch all crossed down.
3. signal valid below daily pivot.

I would like to know, from experienced traders, how would you guys manage to close this trade?
Any signals showing on my previous chart would make you exit the trade early and accept the loss?
  • #33
  • Apr 7, 2014 2:45am Apr 7, 2014 2:45am
glad to see that the thread is back, thank you all for keeping Genesis alive.
  • #34
  • Apr 7, 2014 2:58am Apr 7, 2014 2:58am
fourth attempt to break the DP

now Eur is a little bit stronger then Aud

previous low held forming a double low

ASC M15 turned white again

what do you think about it?

is it a valid long setup?
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  • #35
  • Apr 7, 2014 3:20am Apr 7, 2014 3:20am
Quoting jimi
fourth attempt to break the DP now Eur is a little bit stronger then Aud previous low held forming a double low ASC M15 turned white again what do you think about it? is it a valid long setup? {image}
I would say it's according to the rules, but there is a resistance near by - this is forth time it's trying to break through it. Also it's a ranging market - so it may just keep going nowhere or maybe break out.


PS Just saw it - it's breaking up. So would expect to continue up. Personally I wouldn't have taken it before it broke that resistance.
  • #36
  • Apr 7, 2014 3:20am Apr 7, 2014 3:20am
Quoting forex1016
{quote} I would like to know if that was a valid trade
in my humble opinion nope, due to ASC trend against the trade

just my 2 cent
  • #37
  • Apr 7, 2014 3:23am Apr 7, 2014 3:23am
Quoting demoreal
{quote} I would say it's according to the rules, but there is resistance near by - this is forth time it's trying to break through it. Also it's a ranging market - so it may just keep going nowhere or maybe break out. PS Just saw it - it's breaking up. So would expect to continue up. Personally I wouldn't have taken it before it broke that resistance.
agree
and always be aware of possible failure breakout in forex market, since it's often a contrarian one
  • #38
  • Apr 7, 2014 3:26am Apr 7, 2014 3:26am
Quoting demoreal
{quote} I would say it's according to the rules, but there is a resistance near by - this is forth time it's trying to break through it. Also it's a ranging market - so it may just keep going nowhere or maybe break out. PS Just saw it - it's breaking up. So would expect to continue up. Personally I wouldn't have taken it before it broke that resistance.
at this point will come the main difficult part of the story fo me, how to manage the trade
since it's much more difficult manage the exit than the entry for me

possible scenarios:

- close all at RN;
- switch @ BE at RN and let see...;
- close partially @ RN;
- other..................

so, what? in your opinion?

many thanks in advance
  • #39
  • Apr 7, 2014 3:38am Apr 7, 2014 3:38am
Quoting jimi
{quote} at this point will come the main difficult part of the story fo me, how to manage the trade since it's much more difficult manage the exit than the entry for me possible scenarios: - close all at RN; - switch @ BE at RN and let see...; - close partially @ RN; - other.................. so, what? in your opinion? many thanks in advance
I must say I'm still learning about this system and only using demo account - so not an expert (far from it).

From what I've read there are few options to exit it:

- look if only one dot changes colour in matrix (this is extremely nervous approach and you may get out and then price just goes your way, so you may feel bad about it or good if it turns back and you managed to take small profit)
- look for all the dots to change color to red (this is a reasonable one, but profit may disappear and also it could turn into a loss by that time)
-do nothing and wait to hit MR 1 which is at 1.4805 on my chart
-close it if it opens below yellow ma
-close it if there is a close below last two candles lows etc. etc.

Personally I would wait for it to go to MR1, maybe close part and move stop to break even. Saying that I must say that there are not many reports today and the market looks half dead.
  • #40
  • Apr 7, 2014 3:43am Apr 7, 2014 3:43am
Quoting demoreal
{quote} I must say I'm still learning about this system and only using demo account - so not an expert (far from it). From what I've read there are few options to exit it: - look if only one dot changes colour in matrix (this is extremely nervous approach and you may get out and then price just goes your way, so you may feel bad about it or good if it turns back and you managed to take small profit) - look for all the dots to change color to red (this is a reasonable one, but profit may disappear and also it could turn into a loss by that time)...

thank you very much demo,

please, what do you mean with "MR1 @ 1.4805" ?
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