Attachments: Genesis - continuation

Genesis - continuation

#401
Jun 14, 2014 3:37pm Jun 14, 2014 3:37pm

demoreal
| Joined Jul 2011 | Status: ... | 185 Posts

Quoting LFN

Disliked

Hi. I got burned on this trade. Could I have some feedback. I thoght it was a pretty clear trade. But you cant win them all {image}

Ignored

Hi LFN. If you entered a long after close of that candle I marked, m15 stochastic didn't look that good (maybe it was just about to cross - I marked it with yellow circle).

Also I don't know how relevant is this to Genesis, but price action was not very good prior to that set up - rangy and choppy. It's true you can't win them all, but if you are choosy you may avoid some of the losses.

Hope this helps

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#402
Jun 14, 2014 3:38pm Jun 14, 2014 3:38pm

ksofty
| Joined Jun 2014 | Status: Trader | 105 Posts

Stochs look awful. You should read a bit more about them in the first post on the first page of the old thread. It's explained that a good trade can be taken if (long) stochs are crossed and moving out of 20-zone or else (short) crossed and moving out of 80-zone. In your case, M15 stochs are crossing in the middle of nowhere. For a good example look the last possible long trade that you could've taken on your screenshot - a looooong way up and all conditions met.

Edit: Are you sure you really, really wanna trade GBPCHF with its enormous spreads on M5 chart?

#403
Jun 14, 2014 4:28pm Jun 14, 2014 4:28pm

brath
| Joined Apr 2011 | Status: Trader | 264 Posts

plus there is a pivot level right above it was a dumb trade all around ..

#404
Jun 14, 2014 4:42pm Jun 14, 2014 4:42pm

LFN
| Joined Oct 2006 | Status: Trader | 578 Posts

Thanks for the feedback.
demoreal - The trade was taken at 09:36, at the bar after the one you marked. The M15 stoch was a little better there but not the greatest.
brath - My indicator told me Daily pivot was below at 1.5173

This is demotrading. The pair is maybe not suitable because the spread. But the ADR was high.

#405
Jun 16, 2014 5:48am Jun 16, 2014 5:48am

civilpes2001
| Joined May 2013 | Status: Full Member | 274 Posts

Has anyone been trading today. so far it has been a shitty day, but the night trading would have made some pips. some of these days trading time or momentum of PA is scatted over different time slots. so it is hard to sit down from London open to newyork close and still make pips. today may be one of those days.

#406
Jun 16, 2014 6:51am Jun 16, 2014 6:51am

ksofty
| Joined Jun 2014 | Status: Trader | 105 Posts

If you want to make money, you would do it. Last few weeks was a range period for most pairs but still wide enough to take 100+ pips/day using the Genesis. If you were trading only 1 lot, it would be like $1000/day. Worth the time

Make a research which pairs have the smallest spreads on your broker and find the trending ones - for example e/a makes really strong trends, but i've got like 4 pips spread on it, which is way over my own limits.

#407
Jun 16, 2014 7:01am Jun 16, 2014 7:01am

civilpes2001
| Joined May 2013 | Status: Full Member | 274 Posts

Quoting ksofty

Disliked

If you want to make money, you would do it. Last few weeks was a range period for most pairs but still wide enough to take 100+ pips/day using the Genesis. If you were trading only 1 lot, it would be like $1000/day. Worth the time Make a research which pairs have the smallest spreads on your broker and find the trending ones - for example e/a makes really strong trends, but i've got like 4 pips spread on it, which is way over my own limits.

Ignored

you are right about making 100 pips per day using genesis and about the spread. right now my goal is to make minimum 30 pips per day with trading 1 lot at a time. The problem sometimes is that my schedule of trading doesn't coincide with momentum of trading. I am hoping to see good days ahed though.

#408
Jun 16, 2014 8:36am Jun 16, 2014 8:36am

ksofty
| Joined Jun 2014 | Status: Trader | 105 Posts

My schedule is exactly why i'm not trading this system and (personal opinion) you can lose a lot of money in forex if trading on TF under H1. Just the psychological pressure isn't for everybody. But that's why there are different pairs - if you really need some cash you can earn it by this system - if you can't trade eurusd, you can trade sydney and tokio sessions at night (i'm gmt+2). What I want to say is that the strongest momentum in audusd for example is around 3-4am (gmt+2) and there are lots of pips to be scalped.

P.S. If someone has some kind of a 'list' with the majors and the time of their biggest moves and strongest momentum, it would be nice to share it.

#409
Jun 16, 2014 9:04am Jun 16, 2014 9:04am

TradeFinder
Joined Oct 2011 | Status: Trader | 201 Posts

Quoting ksofty

Disliked

My schedule is exactly why i'm not trading this system and (personal opinion) you can lose a lot of money in forex if trading on TF under H1. Just the psychological pressure isn't for everybody. But that's why there are different pairs - if you really need some cash you can earn it by this system - if you can't trade eurusd, you can trade sydney and tokio sessions at night (i'm gmt+2). What I want to say is that the strongest momentum in audusd for example is around 3-4am (gmt+2) and there are lots of pips to be scalped. P.S. If someone has some...

Ignored

Hi

This is a good site that RJ suggested, i have been using it since and it helps for pair to check on days of week and times of day

http://www.forexticket.us/en/tools/02-01-volatility

#410
Jun 16, 2014 10:18am Jun 16, 2014 10:18am

lastingwell
Joined Jan 2013 | Status: Trader | 1,657 Posts

Quoting ksofty

Disliked

My schedule is exactly why i'm not trading this system and (personal opinion) you can lose a lot of money in forex if trading on TF under H1. Just the psychological pressure isn't for everybody. But that's why there are different pairs - if you really need some cash you can earn it by this system - if you can't trade eurusd, you can trade sydney and tokio sessions at night (i'm gmt+2). What I want to say is that the strongest momentum in audusd for example is around 3-4am (gmt+2) and there are lots of pips to be scalped. P.S. If someone has some...

Ignored

Just my opinion but you can lose a lot of money in forex on any timeframe. I think you can learn faster on m5 just don't expect a move to last as long as one on H1 for instance.

As far as the sessons go, its generally agreed that its better to trade for instance GBP and Eur when London/Europe is open, the JPY pairs when Tokyo is open and so on (barring news events of course).

#411
Jun 16, 2014 11:27am Jun 16, 2014 11:27am

ksofty
| Joined Jun 2014 | Status: Trader | 105 Posts

Quoting lastingwell

Disliked

{quote}Just my opinion but you can lose a lot of money in forex on any timeframe. I think you can learn faster on m5 just don't expect a move to last as long as one on H1 for instance. As far as the sessons go, its generally agreed that its better to trade for instance GBP and Eur when London/Europe is open, the JPY pairs when Tokyo is open and so on (barring news events of course).

Ignored

So if the pair is g/j it should have like 2 good trading periods per day or I'm getting it wrong?

#412
Jun 16, 2014 12:02pm Jun 16, 2014 12:02pm

civilpes2001
| Joined May 2013 | Status: Full Member | 274 Posts

Quoting lastingwell

Disliked

{quote}Just my opinion but you can lose a lot of money in forex on any timeframe. I think you can learn faster on m5 just don't expect a move to last as long as one on H1 for instance. As far as the sessons go, its generally agreed that its better to trade for instance GBP and Eur when London/Europe is open, the JPY pairs when Tokyo is open and so on (barring news events of course).

Ignored

very well put.

#413
Jun 16, 2014 2:43pm Jun 16, 2014 2:43pm

lastingwell
Joined Jan 2013 | Status: Trader | 1,657 Posts

Quoting ksofty

Disliked

{quote} So if the pair is g/j it should have like 2 good trading periods per day or I'm getting it wrong?

Ignored

Yes either trading period should be ok, only one thing to bear in mind with the jpy pairs and thats for it to move anywhere, if its for instance, EJ, both EU and UJ need to be moving in the same direction or one standing still and the other moving, if they are moving in different directions EJ will stand still (ranging). The same holds true for GJ (GU and UJ) AJ (AU and
UJ) and so on.

#414
Jun 17, 2014 6:20am Jun 17, 2014 6:20am