For for new users of GMTS. (and possibly helpful reminders for GMTS vets too 
? )
ENTRIES:
*Remember the letters HPT. High Probability Trades. Be very picky about which trades you enter. HPT entry considerations include:
*ALL signals point to a HPT entry.
*BOTH Genesis and ASCTrent Matrix 2TF are in agreement, AND it is the beginning of the move. (More on that later)
*The Stochastic is going, or has gone through, the 50 line from above or below.
*WINNER is signaling the same direction as the Stochastic starting from below (LONG), from above (SHORT). If you're using MYF Stochastic instead, make sure it is indicating same direction. If you don't have confidence in those 2 indicators take the time to go to the higher TF and check.
*Initially, there is enough room from your entry to the next Sweet Spot to achieve at least 3 pips, otherwise it's not worth the bother. (IMO Sweet Spots tend to be more accurate than Pivots and Fibs.)
*HA Candle is initially closing above or below the 5 ema and, of course, the color of the candle agrees with direction,
The Signal HA candle is healthy. THIS IS VERY IMPORTANT, here is one link (I'm sure there are many) that illustrates and explains different HA scenarios. http://traderhq.com/how-to-trade-wit...-candlesticks/ Worth a look. It doesn't push an agenda, no webinars or courses,or sell anything.
*Enter AT THE Open of the SECOND CANDLE after signal candle closes that meets ALL criteria. The Probability of success decreases after that. It's important to enter as early as posible. It's unrealistic to expect to know the signal candle beforee it forms. You MIGHT still be OK after the 3rd bar Close, but I don't have good feelings for those entries. Some moves are only 3 or 4 bars with the 3rd or 4th bar being a complete retracement of the whole thing. But if it's the 4th bar or later after the initial signal, definitely wait for a another signal. Blind luck and HPT are not the same. If you watch Price Action during the formation of a candle, in any TF, you will see it go through different phases of levels of energy when volume is healthy. The beginning is iffy, then a buildup, next a letdown, then a resurgence, and a final closing. It's not always exactly the same, but it,s pretty close. Traders enter, traders waver, traders jump in, traders exit. Hey, it's really just an auction, and that's what happens.
*Trade when volume is probably going to be highest. If you're not sure about the times of trading sessions converted to your local time zone, it's time you looked for a conversion table and wrote it down somewhere. Imagine (or maybe you don't need to "imagine") that the only way to feed your family is to catch fish off the local bridge (Your Broker) overlooking a river (The Market). There is a small but affordable fee to fish off the bridge (Commissions and spread). You only have one pole and some bait that you dug up in a vacant lot (That's your trading account). It's just past noon. The sun high in a clear sky and hot. It's quiet. You are alone. You fish here the same time every day because there are less people. It means less competition for fish. That makes sense. Right? The river's banks are wide apart, but there's not much water flowing right now (Low Volume). It's always like this when you come here. You cast a line anyway. Maybe there's a few really hungry, and lost, fish down there someplace (Retail Spot Traders). You're bait keeps disappearing (Money in your account), but you don't actually catch any fish. In fact, You run out of bait (Money) again and give up, again. Maybe by tomorrow you'll find some loose change laying around and buy more bait and come back. Can't be this bad everyday. Right? Later that evening you see your neighbor getting out of his truck with a bunch of fish on a stringer. He says the river is running and fish are bumping into each other. Begging to get caught. Says you don't even need bait. (Volume is high, High Probability of catching fish, Strong Trend). You run over to the bridge all excited. Feast tonight!! But, when you get there there's a few guys fishing, but mostly drinking warm beers and chewing the fat. Run is over they say. When might the next one be you ask. Hard to tell says one old-timer. There's a higher probability in in the early morning and and at dusk in Spring and Autumn. Never happens in Winter, and maybe once or twice in the middle of Summer. Summer is just blind luck if you catch it. Just have to be here when it happens. Would you change your fishing habits? The market high volume times may be inconvenient for some of us, but we have to ask ourselves, "How hungry am I?"
*LOOK TO THE LEFT to see where price has been and how it reacted in different places. Where is it coming from? Is it near the top or bottom of a range? Has it stalled in the same place numerous times? Is it bouncing off a particular location?....etc,etc. Most of us know the drill. But sometimes we ignore that part because, well, we just couldn't be bothered. Tons of traffic fatalities happen for the same reason.
*MAKE YOUR DECISION TO ENTER A POSITION A SERIOUS DECISION. Every time you enter into the market you need to feel that you gave yourself the best possible chance of a favorable outcome. If you want this to work you need to be very strict about following your trading rules. If you don't, and I don't care what your strategy is, you will fail, over and over again, until you decide where Rock Bottom is, that place where you've finally had enough. And here's a Spoiler Alert!! Apparently, Rock Bottom has a basement.
I know this seems like a lot to do in a short amount of time, but with practice and making mistakes you will start to "see" most of these things intuitively, the same way professional athletes make their actions seem effortless. They didn't get that way without thousands of hours of repetitious practice, a healthy dose of embarrassing mistakes, and the milestone success moments where they truly realized what it is they lacked or didn't understand. Maybe you know traders here on FF who seem to consistently be on the right side of trades. How do they do that? I want to do that. Why can't I do that? What is the secret? The answer is, Can I have a drum-roll please?.....................PRACTICE, PRACTICE, PRACTICE, and more PRACTICE. That's it. And lot's of it. But very few people have the will to do what needs to be done. "It takes a little more to make a Champion." Truer words were never spoken. If it was easy everybody would be doing it.
OK, I hope I covered most of GMTS entries and making decisions to enter from my POV. I probably left something out. But I tried to cover the most important. Some of it was specific to GMTS, some of it was just general trading stuff. Hope I didn't boor you too much.
Sometime, later, I'll' post my thoughts on GMTS exits.
? )ENTRIES:
*Remember the letters HPT. High Probability Trades. Be very picky about which trades you enter. HPT entry considerations include:
*ALL signals point to a HPT entry.
*BOTH Genesis and ASCTrent Matrix 2TF are in agreement, AND it is the beginning of the move. (More on that later)
*The Stochastic is going, or has gone through, the 50 line from above or below.
*WINNER is signaling the same direction as the Stochastic starting from below (LONG), from above (SHORT). If you're using MYF Stochastic instead, make sure it is indicating same direction. If you don't have confidence in those 2 indicators take the time to go to the higher TF and check.
*Initially, there is enough room from your entry to the next Sweet Spot to achieve at least 3 pips, otherwise it's not worth the bother. (IMO Sweet Spots tend to be more accurate than Pivots and Fibs.)
*HA Candle is initially closing above or below the 5 ema and, of course, the color of the candle agrees with direction,
The Signal HA candle is healthy. THIS IS VERY IMPORTANT, here is one link (I'm sure there are many) that illustrates and explains different HA scenarios. http://traderhq.com/how-to-trade-wit...-candlesticks/ Worth a look. It doesn't push an agenda, no webinars or courses,or sell anything.
*Enter AT THE Open of the SECOND CANDLE after signal candle closes that meets ALL criteria. The Probability of success decreases after that. It's important to enter as early as posible. It's unrealistic to expect to know the signal candle beforee it forms. You MIGHT still be OK after the 3rd bar Close, but I don't have good feelings for those entries. Some moves are only 3 or 4 bars with the 3rd or 4th bar being a complete retracement of the whole thing. But if it's the 4th bar or later after the initial signal, definitely wait for a another signal. Blind luck and HPT are not the same. If you watch Price Action during the formation of a candle, in any TF, you will see it go through different phases of levels of energy when volume is healthy. The beginning is iffy, then a buildup, next a letdown, then a resurgence, and a final closing. It's not always exactly the same, but it,s pretty close. Traders enter, traders waver, traders jump in, traders exit. Hey, it's really just an auction, and that's what happens.
*Trade when volume is probably going to be highest. If you're not sure about the times of trading sessions converted to your local time zone, it's time you looked for a conversion table and wrote it down somewhere. Imagine (or maybe you don't need to "imagine") that the only way to feed your family is to catch fish off the local bridge (Your Broker) overlooking a river (The Market). There is a small but affordable fee to fish off the bridge (Commissions and spread). You only have one pole and some bait that you dug up in a vacant lot (That's your trading account). It's just past noon. The sun high in a clear sky and hot. It's quiet. You are alone. You fish here the same time every day because there are less people. It means less competition for fish. That makes sense. Right? The river's banks are wide apart, but there's not much water flowing right now (Low Volume). It's always like this when you come here. You cast a line anyway. Maybe there's a few really hungry, and lost, fish down there someplace (Retail Spot Traders). You're bait keeps disappearing (Money in your account), but you don't actually catch any fish. In fact, You run out of bait (Money) again and give up, again. Maybe by tomorrow you'll find some loose change laying around and buy more bait and come back. Can't be this bad everyday. Right? Later that evening you see your neighbor getting out of his truck with a bunch of fish on a stringer. He says the river is running and fish are bumping into each other. Begging to get caught. Says you don't even need bait. (Volume is high, High Probability of catching fish, Strong Trend). You run over to the bridge all excited. Feast tonight!! But, when you get there there's a few guys fishing, but mostly drinking warm beers and chewing the fat. Run is over they say. When might the next one be you ask. Hard to tell says one old-timer. There's a higher probability in in the early morning and and at dusk in Spring and Autumn. Never happens in Winter, and maybe once or twice in the middle of Summer. Summer is just blind luck if you catch it. Just have to be here when it happens. Would you change your fishing habits? The market high volume times may be inconvenient for some of us, but we have to ask ourselves, "How hungry am I?"
*LOOK TO THE LEFT to see where price has been and how it reacted in different places. Where is it coming from? Is it near the top or bottom of a range? Has it stalled in the same place numerous times? Is it bouncing off a particular location?....etc,etc. Most of us know the drill. But sometimes we ignore that part because, well, we just couldn't be bothered. Tons of traffic fatalities happen for the same reason.
*MAKE YOUR DECISION TO ENTER A POSITION A SERIOUS DECISION. Every time you enter into the market you need to feel that you gave yourself the best possible chance of a favorable outcome. If you want this to work you need to be very strict about following your trading rules. If you don't, and I don't care what your strategy is, you will fail, over and over again, until you decide where Rock Bottom is, that place where you've finally had enough. And here's a Spoiler Alert!! Apparently, Rock Bottom has a basement.
I know this seems like a lot to do in a short amount of time, but with practice and making mistakes you will start to "see" most of these things intuitively, the same way professional athletes make their actions seem effortless. They didn't get that way without thousands of hours of repetitious practice, a healthy dose of embarrassing mistakes, and the milestone success moments where they truly realized what it is they lacked or didn't understand. Maybe you know traders here on FF who seem to consistently be on the right side of trades. How do they do that? I want to do that. Why can't I do that? What is the secret? The answer is, Can I have a drum-roll please?.....................PRACTICE, PRACTICE, PRACTICE, and more PRACTICE. That's it. And lot's of it. But very few people have the will to do what needs to be done. "It takes a little more to make a Champion." Truer words were never spoken. If it was easy everybody would be doing it.
OK, I hope I covered most of GMTS entries and making decisions to enter from my POV. I probably left something out. But I tried to cover the most important. Some of it was specific to GMTS, some of it was just general trading stuff. Hope I didn't boor you too much.
Sometime, later, I'll' post my thoughts on GMTS exits.
. My advice is: Don't do that 
.) Also, focus on the PIPS, not the money. I used lots ranging from .20 to .01. for different reasons. Our job is to accumulate PIPS. Money totals are relative to the individual, but TOTAL POSITIVE PIPS are universally how FX traders keep score. Also, I will use a 6 pip auto-TP on the M5 time frame when my entry is fairly close to a Sweet Spot, but because of strong signals, candles , slope, stochastic, etc., I think it will eventually hit it. That works for me, but you might have your own way of exiting.
