{quote} Hi. You don't find any use of stochastics in your setups?
Simplicity is the ultimate sophistication - Leonardo da Vinci
- #921
- May 23, 2017 10:58am May 23, 2017 10:58am
- Joined Apr 2011 | Status: Hoc Etiam Transibit.... | 6,091 Posts
- #923
- Edited 2:42pm May 23, 2017 2:19pm | Edited 2:42pm
- Joined Oct 2010 | Status: Trader | 1,536 Posts
{quote} Since stochastic on 2 timeframes is the original Genesis setup I was interested if it was working as good without it
I know it's a tad more complicated than that, but not by much. If you don't like, or are uncomfortable reading the Stochastic indicator, you need a reason for exit. Some traders use candle formation to gauge price strength and weakness. Some will use a predetermined profit targei. Still others will depend on crossing MAs, etc....the list is long for exit criteria preferences.
The Genesis Matrix was never meant to be a stand-alone indicator. Everything working together increases the probability of us being correct in entering and exiting positions, but nothing is promised. Interpreting any indicator or set of indicators accurately is a skill that improves with time and practice.
If you go here https://www.forexfactory.com/showthread.php?t=373796 you'll find this list of tutorials that you might find helpful.
To answer part of your question, you don't need the Stochastic if you have a different way of receiving the information that the stochastic provides. What's important is that you choose a method that consistently gives you a way to profit from most of your trades. The stochastic works IF you can interpret the information. It does take some practice.
As for josch's charts, and this is just my opinion, I'm sure josch will let me know if I'm mistaken, it's true there is no stochastic indicator, but he has a 4-TF ACSTrend matrix, MAs, Opening price lines, and a dashboard feeding him information about Price Action on his charts. Josch also trades the H4 time frame where a stochastic signal may be too slow to give him accurate exit signals. It works for josch, so it's good..........for josch. It might be helpful if you do a little experimenting on a demo account and see if you can find what works best for you. I hope this helps answer your question. Best of luck in your trading.
{quote} Hi LFN. I think I understand your question. To answer it, I need to ask a question of you. Once you enter a trading position, where do you exit? The stochastic indicator and the Genesis Matrix give us different information. The matrix tells us of the possibility of the beginning of a trend or change of direction. The stochastic also gives us directional info, but also gives us some idea of strength and duration. As a general rule, we might say, "Genesis gets us in, and the Stochastic gets us out." I know it's a tad more complicated than...
My close is a little unusual. I often use the T3 indicator (part of Genesis matrix) when it changes colour I will close the trade. Feel free to try it.
- #925
- May 23, 2017 4:58pm May 23, 2017 4:58pm
- Joined Oct 2010 | Status: Trader | 1,536 Posts
{quote} Thanks. I am trading Genesis live since almost 2 years back. Only the original chart setup with Stochasrics. Can't live without stochs
- #926
- May 23, 2017 7:11pm May 23, 2017 7:11pm
- Joined Apr 2011 | Status: Hoc Etiam Transibit.... | 6,091 Posts
Simplicity is the ultimate sophistication - Leonardo da Vinci
- #927
- May 24, 2017 6:14am May 24, 2017 6:14am
{quote} Thanks. I am trading Genesis live since almost 2 years back. Only the original chart setup with Stochasrics. Can't live without stochs
It's really looks nice. When I looked on my lost trades it's cut my losses.
"The essence of Discipline is that there are no exceptions" - Jack Schwager
- #930
- May 24, 2017 6:50am May 24, 2017 6:50am
- Joined Oct 2015 | Status: loading... | 1,038 Posts
what we want:1+1+1+1+1+1+1+1=8 what market delivers:1+2+8+7-4+0-5+8-4-5=8
- #931
- May 24, 2017 6:54am May 24, 2017 6:54am
- Joined Oct 2015 | Status: loading... | 1,038 Posts
what we want:1+1+1+1+1+1+1+1=8 what market delivers:1+2+8+7-4+0-5+8-4-5=8
Helloo everyone, good day.
I'd like to say thank you in the original thread by RJ but unfortunately the thread is closed, Thank you Xaphod, Wiz3003, RJ, Olivia, Cody, Oli (olivierforex) for this wonderful system, indies and template. This really helps me with my trade.
Thank you Heispark as well for pointing me to this thread *yay*
I have a question, in H1 Tf, what do we do if the ASCTrend1i showing a sell signal but the the other indies are not lining up until 11 candles later? Do we still take the sell trade or we just wait for the next signal?
Thank you everyone, cheers.
I'd like to say thank you in the original thread by RJ but unfortunately the thread is closed, Thank you Xaphod, Wiz3003, RJ, Olivia, Cody, Oli (olivierforex) for this wonderful system, indies and template. This really helps me with my trade.
Thank you Heispark as well for pointing me to this thread *yay*
I have a question, in H1 Tf, what do we do if the ASCTrend1i showing a sell signal but the the other indies are not lining up until 11 candles later? Do we still take the sell trade or we just wait for the next signal?
Thank you everyone, cheers.
- #936
- Jun 6, 2017 3:11am Jun 6, 2017 3:11am
- Joined Apr 2011 | Status: Hoc Etiam Transibit.... | 6,091 Posts
Simplicity is the ultimate sophistication - Leonardo da Vinci
- #938
- Jun 6, 2017 5:37am Jun 6, 2017 5:37am
- Joined Oct 2010 | Status: Trader | 1,536 Posts
.................I have a question, in H1 Tf, what do we do if the ASCTrend1i showing a sell signal but the the other indies are not lining up until 11 candles later? Do we still take the sell trade or we just wait for the next signal? Thank you everyone, cheers.
If the trend is down and Genesis is giving you a new sell signal, yes, you can take it. However, if it was the other way around, say you have a long period of a solid Genesis signal, but no confirmation from elsewhere on your charts, then 11 bars later ASCTrend agrees, That's too late. I wouldn't advise taking that signal.
- #939
- Jun 7, 2017 5:02am Jun 7, 2017 5:02am
Good morning,
taking a trade 11 bars later ... I second bobby, this often may be too late.
Have a look at the TMS thread beginning of Eric RIP. He mentioned, that a lot of
H4 candle series same direction end after several, so he took trades only until
2nd candle after a signal. Back to GMS, following charts are with timeframe H4 too,
so you have to look, if there are some similar usable technicals with the H1.
Selling EUR/JPY below downtrend MA60 (red) and no cover at blue candles this
am, because the indicators (TVI, CCI, T3, GHL) and ASCTrend H4 + D1 still intact
No sell at red arrow, because looking left and MAs, this is ranging (red MA flat,
yellow MAs only up and down). Waiting ...
Re-entry example. Trend MA60 is down, typical retracements and continuing trend.
First sell at red arrow was a small loss (exec 1.8044 / cover 1.8094 at 4th blue candle,
accompanied by first contrary blue indicators TVI + T3). Trend still running? Re-entry
at 06/06 12:00 GMT (7th candle from right) 1.8017 and no cover at blue candles,
because all indicators still red - price now around 1.7930
Selling at red arrow? - Possible, but no: There is an uptrend and since 5 small green
arrows starting consolidating / ranging with some HHs and HLs. Waiting ...
Similar to chart above, some HHs and HLs. Possible to sell this? Sure, but if it was ok,
we'll see later - as always: best probabilities still are no guarantee. In this case have
a look at the next higher TF, the daily:
ok - this was a downtrend over 11 days, now retracing and red TL was broken. All indicators
are red (but the weekly), so a try would be ok. Back to the H4 above, there still showing up
some single blue candles, but indicators still ok: so far sell 1.3481, price at 1.3427.
Good luck
josch
taking a trade 11 bars later ... I second bobby, this often may be too late.
Have a look at the TMS thread beginning of Eric RIP. He mentioned, that a lot of
H4 candle series same direction end after several, so he took trades only until
2nd candle after a signal. Back to GMS, following charts are with timeframe H4 too,
so you have to look, if there are some similar usable technicals with the H1.
Selling EUR/JPY below downtrend MA60 (red) and no cover at blue candles this
am, because the indicators (TVI, CCI, T3, GHL) and ASCTrend H4 + D1 still intact
No sell at red arrow, because looking left and MAs, this is ranging (red MA flat,
yellow MAs only up and down). Waiting ...
Re-entry example. Trend MA60 is down, typical retracements and continuing trend.
First sell at red arrow was a small loss (exec 1.8044 / cover 1.8094 at 4th blue candle,
accompanied by first contrary blue indicators TVI + T3). Trend still running? Re-entry
at 06/06 12:00 GMT (7th candle from right) 1.8017 and no cover at blue candles,
because all indicators still red - price now around 1.7930
Selling at red arrow? - Possible, but no: There is an uptrend and since 5 small green
arrows starting consolidating / ranging with some HHs and HLs. Waiting ...
Similar to chart above, some HHs and HLs. Possible to sell this? Sure, but if it was ok,
we'll see later - as always: best probabilities still are no guarantee. In this case have
a look at the next higher TF, the daily:
ok - this was a downtrend over 11 days, now retracing and red TL was broken. All indicators
are red (but the weekly), so a try would be ok. Back to the H4 above, there still showing up
some single blue candles, but indicators still ok: so far sell 1.3481, price at 1.3427.
Good luck
josch
trading is war - life is simple