Genesis - continuation

Akolva,

the H4 chart includes original GMS indicators only + a (red) MA60 (linear weighted / open) and daily open line.
On M5 using GMS + TDI and daily open line too. Last 2 you'll find in the TMS for M30 thread - excellent ressource.

josch

Thanks josch!

GMS EUR/JPY H4, 40+

josch

GMS EUR/JPY H4, 40+, 47 minutes

Enjoy your weekend.
josch

If anyone is using the GMTS Winner template that I posted a while back, here is an updated version that I have found beneficial. Please read the the PDF text notes included. After all my experimenting with different versions of GMTS, I came back to what was most profitable for me. I'm done screwing around and I don't foresee any more changes.

Not on the templates, but included in the folder:
Automatic stop loss, trailing top, take profit EA you can put in the Experts folder to help manage your trades. (Auto SL and TS EA)
FXI Pivots and SweetSpots-I put them on sometimes, but don't need them all the time. Usually I use the S&R Indicator and lines sometimes give me a false ides of where trend will stop.

Heiken Ashi (standard) if you don't like the DTHA candles on my charts
ASCTrend arrows and alerts-----If you have the ASCTrend Mattrix-2TF on your chart, it will alert you, arrows give the same signals.
MTF arrows for the next highest time frame on ASCTrend Matrix-2TF---(again, a redundant signal if you have the matrix)

You can put them on and take them off as needed or wanted. Not everyone likes the same things.

And thank you josch for the different MA settings. (50 pd., linear weighted, Open) I like it.

Please note that for the Market Sessions indicator to be accurate, just set the Sydney, Tokyo, London, and New York numbers to the corresponding times they start on your MT4 platform (24-hour format). For example. I live in Chicago. Sydney opens at 4 pm here but it's zero on my MT4 server, so my number next to Sydney is zeo. Tokyo opens 3 hours later (3), London is 10, and New York is 15. Don't input times like 2;00, 14:00, or 9:30, it won't recognize the data. Just a 1 or 2 digit number is good.

For THV3 Market Hours you only have to change one number, Your Broker_GMT_TimeZone at the top of the inputs menu. My number is 2. It's not too hard to figure out. You can also change the colors. My colors correspond with the Market Sessions colors.

If you have questions beside, "Is it profitable?", "How much money can this make?", ""Can we build a robot?", "Where is your live FX Book and/or Trade Explorer?", and my absolute favorite, "How long have you used this system?" go ahead and ask. I prefer it if people make an effort to at least learn trading basics and giving it a decent try on a demo or very small live account before they take a major plunge with a substantial amount of capital.

GMTS Winner versions 1 and 2 are below. The only difference between them is Version 2 does not have ASCTrend-Matrix 2TF indicator attached. The indicator is included in the Indicator folder.

GMTS Winner v1

Attached Image (click to enlarge)

GMTS Winner v2

Attached Image (click to enlarge)

Bobby,

just read your PDF - very good work. Thank you for judging the red MA. Typo? It's a MA 60.
But I don't use it with M5, only with H4 as trend. Ascending MA and price above, no sell even
GMS arrows / red Matrix showing up and vice versa.

Curious, if the MA is helping at the lower TFs too. You may tell it

Have a profitable week
josch

Hi josch. Thanks for the kind words. It's not a typo. I changed it to 50. It seems good for all time frames. The MA that catches the trend exactly doesn't exist. By its nature it can't react until PA makes up its mind. All we can do is try to catch some (most? ) of it. If we do that we're doing our job right.

As I write this, Sydney just opened. EURUSD opened 8 pips gap down from Friday's Close and the gap is already covered within the 1st minute. LOL!! I learned a long time ago not to even touch the Asian session until at least the Tokyo Open, but the Sunday Sydney to Tokyo trading time is (in Chicago) is REAL wacky. Fun to watch though .

Here's an example of why experience is important. EURUSD, Sunday here, Monday morning in Australiia. Opened lower, Closed higher, Matrix says Buy. Stoch says Buy. EMA 5 and LWMA 50 say Buy. Price candle says Buy. Winner says Buy! Buy! Buy! But I wouldn't touch this unless you put a gun to my head. Price during this time changes so fast and violently you'd have no chance to catch it. It might go up. But I'll watch.

Now here is a shot of the next candle. Look at the MTF Stochastic. In the 1st image it had crossed. now it hasn't. My guess is it will hang out around the Open for a while. At the moment it's is just resting on the 50 MA. Will it break out above previous resistance? From the 3rd image it appears so. But not for me.
2nd image

3rd image (MTF Stoch crossing up again. Hmmmm.....)

Here we have a stronger signal. ACSTrend Matrix-2TF all lit up. You want to enter now? Uh-uh, not me.

Everything says BUY!! PLUS we have a support bar forming. Good Lord!!! We MUST BUY NOW!! Shouldn't we? Nope I don't care what it does until Tokyo gets in the game. Then possibly, maybe.

Now, almost 1 hour past the Open, we have 2 nice, red price bars closing below both MAs saying "Adios Senor Pips!!" Stoch is plunging. MTF Stoch crossed down. Winner is red. Genesis is red. Only one indicator says stay long. ASCTrend Matrix still a Buy. But, the dreaded Scissors icon appeared. Most of the time that means the party, for now, is over. Looks like whipsaw city for the next 2 hours on this chart anyway.

This in my PDF notes attached to GMTS Winner folder, but I want this part to be public regardless of who downloads the files.

To ALL of the people involved in the development of the original Genesis Matrix Trading System, THANK YOU SO VERY MUCH for the time and effort you you spent, plus the patience and professionalism you showed in guiding us on how to use it. I followed you from its birth. The trading education you provided was invaluable. It made me a better trader and I, for one, am immensely and forever grateful. This version of the Genesis Matrix Trading System was created by me, Bob Scheide, ( bobby2 on Forex Factory) solely because of my own frustration with my inability to accurately interpret the current time-frame Stochastic as it relates to the current true trend. I created GMTS Winner in an attempt to be more accurate with my decision making process. It is, in no way, my intention to diminish or disrespect the work of the original GMTS developers. I have tried to stay true to the rules of the original GMTS. Any changes that deviate from the original system are completely my own.

Pretty good Buy signal on EURUSD just before Tokyo Open. Just not enough volume to break through Resistance. Again you see the Scissors icon. If you were long you need to get out 1st bar after the icon. Green head but red spike closing below the 5ema. Look at the current time-frame Stochastic. When it broke for the 80 line and touched the Winner indicator plus Genesis tape turned gray. If you stay after that you're gambling with lousy odds. In the past I have taken these trades and paid dearly as the market waved good-bye to me going the opposite way while I stubbornly refused to acknowledge I was wrong. That is why that indicator stays on my charts. It can save you a world of hurt.

For the moment a ranging market. You could slip down to M1 and grab a few pips.
M5 EURUSD

Same chart, but on M1

On M5 we get another scissors icon at Support. Oh, Oh, Oh are you thinking what I'm thinking? Entry rules be damned!!. It's gonna bounce up again. It's been doing this since Friday afternoon. Free pips. A sure thing. DON'T DO IT!!!

If you do it now you'll do it again and again and again. And I guarantee the market will have you for lunch. Too many traders moan about missed pips, but don't congratulate themselves when they have avoided disaster. Standing aside is a position and often the most intelligent decision you can make.

Uh-oh. It didn't bounce this time. Whoops! If you want to trade against the next higher time frame, and you have a good reason, do it. But NEVER, EVER, trade against the CURRENT time frame trend. If both agree, that's great. Often they don't. But don't fight the current trend on the current TF.

Voila!! We avoid disaster.

Here are the charts of 8 currency pairs all on M5 time frame about an hour and a half before the NY Open. You can see the local (Chicago) time in the lower right-hand corner, I think it's 5:36 am. NY opens at 7 am here. Look to the far right on each chart. Look at the price move through the 50 LWMA and notice the reaction of the indicators on each chart. Most pairs pairs surged at the same time. This happens quite often. All you have to do is be there when it happens. Only 2 pairs, AUDUSD and USDJPY didn't move much. But 6 pairs moved enough at the same time to add some nice pips to your account. I'm not suggesting to open 6 positions all at once. What I am suggesting is it might be worth your time to be there if and when it happens because there is a high probability that it will. Trading only 2 positions, say EURUSD and UDSCHF, trading only the Genesis and ASCTrend-2TF signals, would have produced about 70 pips total. Not a bad way to start the week. These are the charts that I use. but it wouldn't matter which version of Genesis you use. The signals would still be the same. Wishing everyone a happy, safe, and profitable trading week.

GMS AUD/NZD H4, 75+, duration 7 candles (around 28 hrs)

Commenting on the large # of bobby's charts later.

josch

Hi. You don't find any use of stochastics in your setups?