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Genesis - continuation

  • #81
  • Apr 10, 2014 4:14am Apr 10, 2014 4:14am
Quoting jimi
{quote} in my humble opinion it wasn't a trade I'd taken due to: - CT trade (obviously is possible to take CT trade, but managing only for a few pips and/or with SL@BE ASAP; - DP just below; - ASC trend totally white just my 2 cents {image}
Hi Jimi,

your reason for not taking The EU trade is spot on ....

I strongly recommend to Never take a Counter Trend Trades....
Be patient and wait for HPT Trades .....

remember.... patience is the holy grail of fx trading
Failure leads to Success if one learns from mistakes and never give up
  • #82
  • Apr 10, 2014 4:25am Apr 10, 2014 4:25am
Quoting jinchu
{quote} Hi Jimi, your reason for not taking The EU trade is spot on .... I strongly recommend to Never take a Counter Trend Trades.... Be patient and wait for HPT Trades ..... remember.... patience is the holy grail of fx trading

  • #83
  • Apr 10, 2014 5:15am Apr 10, 2014 5:15am
Quoting jinchu
{quote} Hi Jimi, your reason for not taking The EU trade is spot on .... I strongly recommend to Never take a Counter Trend Trades.... Be patient and wait for HPT Trades ..... remember.... patience is the holy grail of fx trading
Jinchu, never say never, it may be your preference to wait for what you term HPT's but it does not apply to all traders, there are innumerable ways to trade Genesis as there are most methods. While you're waiting on your HPT there will be many other good profitable opportunities but it would depend on how ultra cautious/conservative your attitude to trading is. Either way, neither is wrong, they're just different.
strada.
  • #84
  • Apr 10, 2014 6:15am Apr 10, 2014 6:15am
Quoting strada
{quote} Morning, good example of this situation earlier. However no exit of trade in this instance as price didn't extend beyond new signal and previous move re-established itself. strada. {image}
Nice trading Strada, does it mean you wont take a valid signal if it comes like 4 minutes before FO?
I see that that move started way back in the Asian session,some moves don't even wait to catch their breath and they are gone.
Let it turn and find your entry.
  • #85
  • Apr 10, 2014 6:39am Apr 10, 2014 6:39am
Quoting Intrepidpips
{quote} Nice trading Strada, does it mean you wont take a valid signal if it comes like 4 minutes before FO? I see that that move started way back in the Asian session,some moves don't even wait to catch their breath and they are gone.
Hi Intrepidpips, I'll use signals just before the opens, if it's a reasonable setup but will monitor very closely in case the open causes any sharp moves.
You're right about the move starting earlier, wish I'd been up and about then, normally don't get set up until 6.30-6.45'ish just before FO.
As for some moves not waiting to catch their breath, it's one of the reasons I like Genesis, there's normally a pretty good chance G1m gets us into those trades early enough to take full benefit.
Hope you're well, haven't seen you around the usual haunts lately, what are you doing these days?
regards, strada.
  • #86
  • Apr 10, 2014 7:31am Apr 10, 2014 7:31am
Quoting strada
{quote} Jinchu, never say never, it may be your preference to wait for what you term HPT's but it does not apply to all traders, there are innumerable ways to trade Genesis as there are most methods. While you're waiting on your HPT there will be many other good profitable opportunities but it would depend on how ultra cautious/conservative your attitude to trading is. Either way, neither is wrong, they're just different. strada.
Strada, I agree that every trader will have different ways of trading as they have different personality.

For me personally, it is much easier to get the pips when trading in direction with the trend and therefore it is my principle not to trade against it. yes of course I missed some pips (a lot of pips sometimes) but I have more confidence whenever I placed a trade.

As you have said, neither is wrong, they're just different,
whatever works for the trader and whatever the trader is comfortable with is most important.

Happy pipping
Failure leads to Success if one learns from mistakes and never give up
  • #87
  • Apr 10, 2014 7:37am Apr 10, 2014 7:37am
Quoting strada
{quote} Hi Intrepidpips, I'll use signals just before the opens, if it's a reasonable setup but will monitor very closely in case the open causes any sharp moves. You're right about the move starting earlier, wish I'd been up and about then, normally don't get set up until 6.30-6.45'ish just before FO. As for some moves not waiting to catch their breath, it's one of the reasons I like Genesis, there's normally a pretty good chance G1m gets us into those trades early enough to take full benefit. Hope you're well, haven't seen you around the usual...
Thanks for the reply, I've been searching for that elusive "Holy Grail" (keeps slipping past me) Every new loss brings a review and a tweak and I should have my own version. You were talking with Rooi about the "small/cheap" SL, how do you determine that?
Then it seems your TP2 is until price reverses above the MA once you've crossed your profit threshold?
Keep inspiring us

I missed the FO move cos I was past a deadline in the office so I'd live to trade another day.

Best regards.
IP
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Let it turn and find your entry.
  • #88
  • Apr 10, 2014 8:08am Apr 10, 2014 8:08am
Quoting Intrepidpips
{quote} Thanks for the reply, I've been searching for that elusive "Holy Grail" (keeps slipping past me) Every new loss brings a review and a tweak and I should have my own version. You were talking with Rooi about the "small/cheap" SL, how do you determine that? Then it seems your TP2 is until price reverses above the MA once you've crossed your profit threshold? Keep inspiring us I missed the FO move cos I was past a deadline in the office so I'd live to trade another day. Best regards. IP {image} {image}

trying to figure out what does your post mean with this thread....................
  • #89
  • Apr 10, 2014 9:26am Apr 10, 2014 9:26am
Quoting jimi
{quote} trying to figure out what does your post mean with this thread....................
Just filling Strada in on what I've been up to (we both trade M1 and post in Rooi's thread but I've been absent)
Let it turn and find your entry.
  • #90
  • Apr 10, 2014 10:28am Apr 10, 2014 10:28am
Quoting jimi
{quote} trying to figure out what does your post mean with this thread....................
I see what you mean, don't want this thread to be hijacked like the original GMT thread, be rest assured I wont be doing anything like that.
Let it turn and find your entry.
  • #91
  • Apr 10, 2014 12:51pm Apr 10, 2014 12:51pm
Quoting Intrepidpips
{quote} You were talking with Rooi about the "small/cheap" SL, how do you determine that? Then it seems your TP2 is until price reverses above the MA once you've crossed your profit threshold?
Hi Intrepidpips, have posted a chart below which illustrates the point discussed with Rooi earlier.
The initial signal required a relatively high SL so the decision has to be made whether to use it or not. I probably would not have used it. As it happened price came back to the signal area and then re-presented a fresh signal which allowed for a much lower SL.
If the trade had been taken then TP1 would have been aqchieved and TP2 would have exited at BE.
Your right about TP2 exits, if I'm close to my daily target I'll not hesitate to take the pips rather than push for more. Makes my trading day finish quicker.
Hope this helps, regards, strada.
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  • #92
  • Apr 10, 2014 3:59pm Apr 10, 2014 3:59pm
Quoting jimi
I trade London and New York sessions (not in the open)
Thanks Jimi, but I didn't understand properly

What do you mean by 'not in the open'? If London opens at 8 am (London time) would you wait till 9 am to start trading? Also New York starts at 1:00 pm (London time) - what time would you start trading?

And what about between Franfurt open and London open - do you enter any trades at that time?
  • #93
  • Apr 10, 2014 4:16pm Apr 10, 2014 4:16pm
Quoting demoreal
{quote} Thanks Jimi, but I didn't understand properly What do you mean by 'not in the open'? If London opens at 8 am (London time) would you wait till 9 am to start trading? Also New York starts at 1:00 pm (London time) - what time would you start trading? And what about between Franfurt open and London open - do you enter any trades at that time?
You're welcome demo.

I meant that I usually don't "jump" in the market just at the open time, but I prefer wait and see what happen before opening position.

I've traded a long time Frankie, since I've changed my habits; now I'm out of the house walking with the dog at that time
  • #94
  • Apr 10, 2014 4:27pm Apr 10, 2014 4:27pm
Quoting jimi
{quote} You're welcome demo. I meant that I usually don't "jump" in the market just at the open time, but I prefer wait and see what happen before opening position. I've traded a long time Frankie, since I've changed my habits; now I'm out of the house walking with the dog at that time
I see - thanks Jimi

I guess the dog is happy, it's good to walk and no damage to the account
  • #95
  • Apr 11, 2014 12:18am Apr 11, 2014 12:18am
Quoting demoreal
{quote} I see - thanks Jimi I guess the dog is happy, it's good to walk and no damage to the account
  • #96
  • Apr 11, 2014 1:13am Apr 11, 2014 1:13am
Quoting strada
{quote} Hi Intrepidpips, have posted a chart below which illustrates the point discussed with Rooi earlier. The initial signal required a relatively high SL so the decision has to be made whether to use it or not. I probably would not have used it. As it happened price came back to the signal area and then re-presented a fresh signal which allowed for a much lower SL. If the trade had been taken then TP1 would have been aqchieved and TP2 would have exited at BE. Your right about TP2 exits, if I'm close to my daily target I'll not hesitate to take...
Thanks Strada, very well explained I get your points.
Let it turn and find your entry.
  • #97
  • Edited 3:29am Apr 11, 2014 2:58am | Edited 3:29am
My "K.I.S.S." rules:

a) Is the trend up, down or undefined?;
b) If the trend is up I will WAIT only for long setup;
c) If the trend is down I will WAIT only for short setup;
d) If the trend is undefined I will pass;
e) When Genesis signal appears, M5 Stoch MUST come from OB or OS area AND MUST be aligned with M15;
f) It's better open long position ONLY above the DP and short position ONLY below the DP;
g) I could take even CT trade, but this is another story..........................
h) always check stronger currency vs. weaker and viceversa

BTW K.I.S.S.

just my 2 cents
  • #98
  • Apr 11, 2014 3:19am Apr 11, 2014 3:19am
Quoting jimi
My "K.I.S.S." rules: a) Is the trend up, down or undefined?; b) If the trend is up I will WAIT only for long setup; c) If the trend is down I will WAIT only for short setup; d) If the trend is undefined I will pass; e) When Genesis signal appears, M5 Stoch MUST come from OB or OS area AND MUST be aligned with M15; f) It's better open long position ONLY above the DP and short position ONLY below the DP; g) I could take even CT trade, but this is another story.......................... BTW K.I.S.S. just my 2 cents
HI JIMI

IT IS A GOOD NEWS that you reopen this thread again. it was a pity that RJ closed that great thread which I had been following for the very first page till page 500 somthing, probably I would like to continue to read RJ`s one; of course, DEFINITELY I am following this one too.... how luck we are.... LET US CONTINUE ........

GREEN PIPS FOR EVERYONE; AND AS PER RJ SAID THAT WE ALL SHOULD TAKE BANK` S MONEY AWAY , CERTAINLY IN A LEGAL WAY SUCH AS FOREX....HORAY........


James
  • #99
  • Apr 11, 2014 3:28am Apr 11, 2014 3:28am
Quoting yansamg
{quote} HI JIMI IT IS A GOOD NEWS that you reopen this thread again. it was a pity that RJ closed that great thread which I had been following for the very first page till page 500 somthing, probably I would like to continue to read RJ`s one; of course, DEFINITELY I am following this one too.... how luck we are.... LET US CONTINUE ........ GREEN PIPS FOR EVERYONE; AND AS PER RJ SAID THAT WE ALL SHOULD TAKE BANK` S MONEY AWAY , CERTAINLY IN A LEGAL WAY SUCH AS FOREX....HORAY........ James
Hi James,

it was not me that reopen but demoreal, so thanks to him

  • #100
  • Apr 11, 2014 3:51am Apr 11, 2014 3:51am
Quoting jimi
{quote} Hi James, it was not me that reopen but demoreal, so thanks to him



. Thanks to demoreal as well....... hoho......
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