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Genesis - continuation

  • #701
  • Jun 23, 2015 4:02am Jun 23, 2015 4:02am
Raymond,

yes, as Rooi said already, this sounds very similar to a lot of such statements.

I would add, if you have rules and a plan, this is 50% at least.
Even it sounds simple to needless, write down your 'RULES' and the 'DON'T DO THIS' parts out of your experience to a sheet of paper and put it beside your screen. The most losses have some components of a new 'DON'T DO THIS'. The rest are turning markets or other events and you know, not each trade will be successful.

What you were telling, has nothing to do with trading, it is a psychologial problem.

Good luck
josch
trading is war - life is simple
  • #702
  • Jun 23, 2015 7:44am Jun 23, 2015 7:44am
Hi Rooi, josch and tanglewood,

Thanks for the comment i will take note about it. Rooi, i did not post trade because after the trade i post that day, almost all my trade is fail afterward. so i did not post the fail trade. but from now i will post it everday if i have time, the reason i dun want to post trade here is because i scared all people thinking why i am so stupid why not going study babypips,.....actually i study babypips few time already but no use for me, haha. Babypips only teach the basic things of forex like what is trading plan, risk management, how to draw a trend, and so on.....

I have followed genesis for about one year and trade using genesis for one year, so i have a simple trading plan:
1.)Genesis matrix all in line
2.)Candle look goods (open under/above sma 5)
3.)M5 stoch must cross from 80/20 and "open mouth"
4.)M15 stoch must "open mouth" and in line with m5 stoch
( i trade with the general rules, there is so much signal buy and sell over the day, so to increase the chance of winning, i add a rule.)
5.)must see "123" pattern or "ABC" pattern or double bottom/top around P/S/R/sweet point before enter a trade (this one is added by myself) (hope this rule not the cause of my failing)
6.) Trading time is from Tokyo open to London close ( i am living in malaysia)
7.) Trade only one currency - EA
8.) Exit when next entry signal coming
9.) stop loss is previous swing high/low

today i take a buy trade at the green point on M5 chart but i did not put stop loss so i made a huge loss, i am not sad for losing the money but i am asking myself what is the actual problem i actually faced? i am thinking everyday but i never give up. i really hope got some mentor can guide me what i am going wrong.

ok, let look at the chart, one is M5 chart and the other one is H4 chart, i have few question below and appreciated if you guys can give some opinion what i am doing wrong, i am sure will take note and rectify my error.

1.) i enter the trade (show in green line in M5 chart) actually i feel like i am gambling, because i did not follow my rules, at that time i am entering i am thinking wow the price retrace from pivot even got a pin bar there, so i am in the trade.
2.) afterward a sell signal come out at yellow line M5 chart, the pattern is exactly "123" pattern with genesis confirmation, but i did not close out previous trade because i am thinking wow it just above pivot so i ignored it then the price go down like watering.
3.) i am thinking ist right to enter every signal out on that day? because i cannot filter out which one is correct or wrong, market can do whatever they like. of course there are still got some "pattern" can be recognised like the "123" pattern below i have see it many time over and over again, but i still scared to enter the trade, dun know why i am doing that, is not because i scared lose money.....i scared it going wrong and affect my confidence (why you guys can enter why i can't)?...may be/.....
4.) conclusion i am always enter the wrong signal trade and miss out the correct signal trade....
5.) what is the trailing stop level u guys alway put on EA, 25pips?

i know someone will say look the big trend like H4 and add Moving average to spot the trend, but look at H4 chart below yellow line, the price is above the trend line is still on uptrend but later it break the line.

the biggest problem is i am not confidence to enter a trade due to almost all my trade is fail.

Thanks. Hope you guys not angry with my long story and my poor English...
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  • #703
  • Jun 23, 2015 8:25am Jun 23, 2015 8:25am
Quoting Raymond00
Hi Rooi, josch and tanglewood, Thanks for the comment i will take note about it. Rooi, i did not post trade because after the trade i post that day, almost all my trade is fail afterward. so i did not post the fail trade. but from now i will post it everday if i have time, the reason i dun want to post trade here is because i scared all people thinking why i am so stupid why not going study babypips,.....actually i study babypips few time already but no use for me, haha. Babypips only teach the basic things of forex like what is trading plan, risk...
I will post you a reply 2.5 hours from now
We miss 100% of the shots we don't take
  • #704
  • Jun 23, 2015 9:05am Jun 23, 2015 9:05am
Quoting Raymond00
Hi Rooi, josch and tanglewood, Thanks for the comment i will take note about it. Rooi, i did not post trade because after the trade i post that day, almost all my trade is fail afterward. so i did not post the fail trade. but from now i will post it everday if i have time, the reason i dun want to post trade here is because i scared all people thinking why i am so stupid why not going study babypips,.....actually i study babypips few time already but no use for me, haha. Babypips only teach the basic things of forex like what is trading plan, risk...
Your English is very good and easy to understand and the EA is a good currency to trade with a good Average Daily Range, though since the move higher around June 3rd it has been consolidating in a range. But certainly trading just one or two currencies and getting to know them is a good idea. If you traded for a bank you would only trade one currency, being on the GBP/USD desk for example. One thing I did when I was learning to be consistent and get more winners than losers was to trade for very small amounts, that way I didn't fear too much to take a trade or a loss whilst learning the best set-ups to take. Like everyone I still have losers but try to keep them small. I take the view I can always get back in the trade again. Most of the very best traders I have come across have often taken several years to get as good as they are today, making big pips on a consistent basis. often 3 to 6 years. One of the best you might want to look at is Phx62 on the 'Trading Made Simple' thread. He rarely posts there these days but other traders have compiled his posts and examples in 5 pdf's which are in the paperclip on that thread, well worth taking a look at.
  • #705
  • Jun 23, 2015 9:51am Jun 23, 2015 9:51am
Quoting Raymond00
,
Hi Raymond

No problem with your English

I put the ZigZag to show the swings - add it too

So my opinion is you are trying to analyze too much with Stochastic and Multiple TF ASCTRend indicator

Look here :
Attached Image (click to enlarge)
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No Stochs and my ASCTrend is set on the current time frame

Too many traders look at too many things when you should have lots of focus on what you see on chart with trend you see with our own eyes

Any sell that did today worked well

I will do some more examples for you in a couple of minutes

You seem to know ABCD patterns , do you know other price action patterns together with trend analysis and Supply and Demand trading - Nothing too difficult just basics

I will be back in 1 hour and will post more

BTW - The green line trade that you took wasn't too bad,there will always be losers but you must always think about what comes next

Let me know what you think

Rooi


PS - SL - trailing is the best when its done manually behind the most recent low
We miss 100% of the shots we don't take
  • #706
  • Jun 23, 2015 9:55am Jun 23, 2015 9:55am
Quoting Raymond00
Hi Rooi,

Please post a chart a ask questions for us to answer when you have time
We miss 100% of the shots we don't take
  • #707
  • Jun 23, 2015 10:09am Jun 23, 2015 10:09am
Quoting Rooi
{quote} Please post a chart a ask questions for us to answer when you have time
ok no problem, i will post the chart once i have a trade.

for price action, u means "pin bar" ? i know the basic pattern which can find on google.

You are right, some trade is losers. after lose, let move on to other signal. i get it. thanks.

from the chart i know there is HH, LL pattern. but what are your entry rules? u did not look at stoch for entry?
  • #708
  • Jun 23, 2015 10:13am Jun 23, 2015 10:13am
Quoting Rooi
{quote} Hi Raymond No problem with your English I put the ZigZag to show the swings - add it too So my opinion is you are trying to analyze too much with Stochastic and Multiple TF ASCTRend indicator Look here : {image} No Stochs and my ASCTrend is set on the current time frame Too many traders look at too many things when you should have lots of focus on what you see on chart with trend you see with our own eyes Any sell that did today worked well I will do some more examples for you in a couple of minutes You seem to know ABCD patterns , do you...
You are using zigzag to enter a trade or just for analysis? ist the default setting for the zigzag? thanks.
  • #709
  • Jun 23, 2015 10:37am Jun 23, 2015 10:37am
Quoting Raymond00
{quote} ok no problem, i will post the chart once i have a trade. for price action, u means "pin bar" ? i know the basic pattern which can find on google. You are right, some trade is losers. after lose, let move on to other signal. i get it. thanks. from the chart i know there is HH, LL pattern. but what are your entry rules? u did not look at stoch for entry?
That good so you know HH and LL patterns

Remember I am showing you here a simpler way to trade the 5min in my opinion -( I trade 1 min - all my rules HERE )

For 5min trading my rules would be like this

I would trade like this :

EA and EU and GA and GU ( To check for correlation between pairs to see if there is very strong trends )

I would check what the current trends is in my opinion and to do that I would :
- Check LL or HH etc
- Are we in impulse move or are we in a retracement of the impulse and when would I consider a reversal to be taking place for example if a new impulse move forms that make a new HH or LL
-How can I join the current trend
- What is the daily range and how far away are we from it

When I have checked these things I will wait for a signal

Please look here for example
Attached Image (click to enlarge)
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You can make drawing like this of every pattern that you can see or have seen so you are never think about what I should be dong but you can check your notes and know what should be next and then work on improving the patterns.All pairs are different and the fundamentals change

You need to be able to write a little report about every trade you take good and bad and review it to see what works and what doesn't work

Let me know what your opinion is
We miss 100% of the shots we don't take
  • #710
  • Jun 23, 2015 10:38am Jun 23, 2015 10:38am
Quoting Raymond00
{quote} You are using zigzag to enter a trade or just for analysis? ist the default setting for the zigzag? thanks.
Default and just to see the swings - to know where to put the LL or HH
We miss 100% of the shots we don't take
  • #711
  • Jun 23, 2015 10:53am Jun 23, 2015 10:53am
Quoting Rooi
{quote} Default and just to see the swings - to know where to put the LL or HH
Dear Rooi,

My genesis indicator doesn't work. TVI and T3 never change. What's the problem?
Also I need to add the other indicator, but i'll find it.

Regards,
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  • #712
  • Jun 23, 2015 10:58am Jun 23, 2015 10:58am
Quoting daanreijn
{quote} Dear Rooi, My genesis indicator doesn't work. TVI and T3 never change. What's the problem? Also I need to add the other indicator, but i'll find it. Regards, {image}
Hi Daan

You need to download the it again from here : http://www.forexfactory.com/showthread.php?t=373796

and reinstall it again from those folders - is the only way

Rooi
We miss 100% of the shots we don't take
  • #713
  • Edited 12:08pm Jun 23, 2015 11:55am | Edited 12:08pm
Quoting Rooi
{quote} Hi Daan You need to download the it again from here : http://www.forexfactory.com/showthread.php?t=373796 and reinstall it again from those folders - is the only way Rooi
Dear,

I did add them again, but still the same problem. The long move will be seen by indicator, but the short moves are not possible.
Thanks for helping
Edit:
Problem solved. Also I found the Gann Hilo indicator. Is it usefull?

Regards,
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  • #714
  • Jun 23, 2015 1:26pm Jun 23, 2015 1:26pm
Quoting daanreijn
{quote} Dear, I did add them again, but still the same problem. The long move will be seen by indicator, but the short moves are not possible. Thanks for helping Edit: Problem solved. Also I found the Gann Hilo indicator. Is it usefull? Regards, {image}
Daan the Gann hilo indicator is the fourth (bottom) line of your genesis matrix so you already have it showing on your charts.
  • #715
  • Jun 24, 2015 3:30am Jun 24, 2015 3:30am
Quoting Raymond00
{quote} thanks.
Hi Raymond

Like I said I dont trade the 5min or EA but there seems to have been 3 winners so far since the new day started - Hope you caught some of it

All the best

Rooi
Attached Image (click to enlarge)
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We miss 100% of the shots we don't take
  • #716
  • Jun 24, 2015 3:31am Jun 24, 2015 3:31am
Quoting daanreijn
{quote} Edit: Problem solved.
Glad it sorted
We miss 100% of the shots we don't take
  • #717
  • Jun 24, 2015 4:17am Jun 24, 2015 4:17am
Quoting Rooi
{quote} Hi Raymond Like I said I dont trade the 5min or EA but there seems to have been 3 winners so far since the new day started - Hope you caught some of it All the best Rooi {image}
Hi, unfortunately I did not catch any of them I just watching the price today after yesterday loss, Now still very confusing about my entry point I dun know where to follow, because Ur entry rule also quite diffrent ....
  • #718
  • Jun 24, 2015 4:23am Jun 24, 2015 4:23am
Quoting Raymond00
{quote} Hi, unfortunately I did not catch any of them I just watching the price today after yesterday loss, Now still very confusing about my entry point I dun know where to follow, because Ur entry rule also quite diffrent ....
I see

So why not try demo or back testing

The last 2 days look pretty good but I am sure there are more difficult days

Up to you really if you want to try it - Let me know if you have any questions

Rooi
We miss 100% of the shots we don't take
  • #719
  • Edited 5:57am Jun 24, 2015 5:47am | Edited 5:57am
Quoting strada
Morning, {image}

Hi Strada

Was wondering if these are about the spreads that you get for oil or are yours slightly less or more

Trust the trading is going well

All the best

Rooi
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We miss 100% of the shots we don't take
  • #720
  • Edited 7:19am Jun 24, 2015 6:18am | Edited 7:19am
Raymond,

looking at your chart/trade above I'm missing your cover. You mentioned setting no SL, but one of the GMS rules are, exit the trade, if candle close below/above (if bought/sold) yellow MA. Beside this you were able (you should) cover at break of Pivot. What I recommend below the line, if you're in doubt of your decisions entering a trade, make a FIXED rule of closing. You'll get more, but small losses and avoid large ones.

josch
trading is war - life is simple
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