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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #61
  • Apr 17, 2009 3:36pm Apr 17, 2009 3:36pm
1st is easy , 2nd is much easier

Simple rule : everything you need is trend and nice pin.

(note if there is div too, it's usually A+++)

http://img152.imageshack.us/img152/2643/eum5nextbt9.gif

or
http://img244.imageshack.us/img244/7619/eu5dn5.gif

and here, we have... a trade with trend and divergence :-)

http://img389.imageshack.us/img389/2543/eurom5sp7.gif
  • #62
  • Apr 17, 2009 5:03pm Apr 17, 2009 5:03pm
Quoting Rainmaker
Agree on the trade being one of the setups, but it´s a TC, no countertrend. What you´re showing on RSI is hidden divergence (sign of trend continuation).
Indeed, RM. Typical div means price is making HH or LL, hidden - the other way around.

P.S. Why RBS?
One Chart is Worth Ten Thousand Words.
  • #63
  • Apr 17, 2009 5:17pm Apr 17, 2009 5:17pm
Quoting Forex007
Indeed, RM. Typical div means price is making HH or LL, hidden - the other way around.

P.S. Why RBS?
Was with ABN Amro German branch before. RBS took them over and moved headquarters of retail trading to the city.

RM
  • #64
  • Apr 17, 2009 6:02pm Apr 17, 2009 6:02pm
Great thread.

I've been trading this way for the last while as well, but with MACD div instead of the RSI div. Same same I think.

Jankone, do you use engulfing candles as entry at the bottom of a trend as well? Or just pin bars? I've found engulfing candles work pretty well also, provided it's at a swing hi/lo with div.

What do you use the BBands for?

Keep it up!
  • #65
  • Apr 17, 2009 6:52pm Apr 17, 2009 6:52pm
Quoting Zendo
Is there a way to get an alarm for pinballs / Hammers ?
Would be nice for scaning more pairs ...
Good trading ...
For a pinbar alarm, try this: http://www.forexfactory.com/showthread.php?t=155529
If you want to see M5 candle charts for several pairs, all on the same chart, try this: http://www.forexfactory.com/showthread.php?t=159644
  • #66
  • Apr 18, 2009 10:01am Apr 18, 2009 10:01am
Hello Janko
Why do you have BB, and all this MAs on your charts if you use just PIN + divergence?
Thank you
  • #67
  • Apr 18, 2009 5:59pm Apr 18, 2009 5:59pm
Pinbars. they are more reliable usually
BB are sometimes good if you want trade in chop (when you see great pinbar and there is no trend,but I don't want to write about this, it's off topic)

Anyway,BBs are good, it can give you "another confirmation" when there is nice pin off bb, and with nice divergence.

Even in trend trades, it's great setup - pinbar in middle BB with trend it's pure gold. (even in EMA 21)


Quoting b-rock
Great thread.

I've been trading this way for the last while as well, but with MACD div instead of the RSI div. Same same I think.

Jankone, do you use engulfing candles as entry at the bottom of a trend as well? Or just pin bars? I've found engulfing candles work pretty well also, provided it's at a swing hi/lo with div.

What do you use the BBands for?

Keep it up!
  • #68
  • Apr 18, 2009 6:01pm Apr 18, 2009 6:01pm
usually i trade without BB, sometimes I know when to trade and when not. but MA is great (for example for your target profit in CT trade etc )

Quoting alter
Hello Janko
Why do you have BB, and all this MAs on your charts if you use just PIN + divergence?
Thank you
  • #69
  • Apr 18, 2009 7:03pm Apr 18, 2009 7:03pm
Guys,
This is pure gold. in trading you need to control your money, your trading plan and CONTROL YOURSELF. I am sure, you can do everything you want to do.
If you have more than 50% win trades (and it is not hard with this material), you are profitable. After some months with this, you will understand, that more important is one thing. Don't spend 85% time with charts, looking for best indicators or super cool new trading system or whatever you do. Spend your time to your psychology. Reveal yourself. Trading systems usually works - but traders don't. Their minds are full of emotions (greed,fear,impatience etc.)

What is important? Test your system, whatever you trade. AND STAY WITH YOUR SYSTEM. I can tell you, since I trade one system, I'm profitable. Something wrong was only in my mind, not in trading system.
This M5 trading system can't be easier than it is.
You have to realise = It's all about TRADER, not about trading system.
I'm not really thinking about my "pinbars or divergence". I know how it looks like, but I need to fight with my dark side - you know, and clear my fear, greed and stay cool.
IT IS NOT ONLY ABOUT PINBARS/DIVERGENCE , M5 OR H1..whatever you wish, IT IS ABOUT YOUR MIND... !

P.S. I hope you understand. Trade under text can be for somebody great trade and +2%. For somebody 0 and even for somebody a losing trade. Why?Is it bad system? NO, it's a trader.


http://img5.imageshack.us/img5/8494/89039042.gif
  • #70
  • Apr 18, 2009 8:55pm Apr 18, 2009 8:55pm
Jankone

I realize you have become very good at identifying these setups, and indeed your comment about the trader being more important than searching for better trading systems all the time. I fell into this trap and realized about a month ago that the problem is with me and not the trading system. That said, I am still looking for a system that I can use personally, and feel at ease with.

I wanted to ask why you trade only the 5m TF with this system, obviously you will be entering more trades on 5m and expose your account more, as well as pay the spread to the broker more often. Is this simply to keep your SL point lower than say on the 4H TF or is there another reason such as using the 5TF just to show the trades to people and get them used to trading it?

Thanks in advance
Starting to see instead of just looking.
  • #71
  • Apr 19, 2009 3:52am Apr 19, 2009 3:52am
is it true ?
Attached Image (click to enlarge)
Click to Enlarge Name: pinbar 1 .gif Size: 21 KB
  • #72
  • Apr 19, 2009 6:57am Apr 19, 2009 6:57am
Quoting Jankone
Something wrong was only in my mind, not in trading system.

IT IS NOT ONLY ABOUT PINBARS/DIVERGENCE , M5 OR H1..whatever you wish, IT IS ABOUT YOUR MIND... !

P.S. I hope you understand. [Trades on the enclosed chart] can be for somebody great trade and +2%. For somebody 0 and even for somebody a losing trade. Why?Is it bad system? NO, it's a trader.
All those of you who are new traders or still struggling to be (consistently) profitable, think hard about Jankone's words.

Especially the last phrase: the same chart can give one trader +2% and -2% to the other, trading the same system.

Success is not about a system, it's about YOU and how YOU trade a system.
One Chart is Worth Ten Thousand Words.
  • #73
  • Apr 19, 2009 7:00am Apr 19, 2009 7:00am
No man, pls check the pdf file how the pin bar looks like. and
here for divergence. http://www.babypips.com/school/diver...eat_sheet.html

Quoting 919
is it true ?
Attached Image (click to enlarge)
Click to Enlarge Name: pinbar1.gif Size: 26 KB
  • #74
  • Apr 19, 2009 7:12am Apr 19, 2009 7:12am
Because I'm 100% sure about this, great setups usually hit my PT 1-2-3 m5 bars later, if not, usually I kill the trade.
Be sure, I dont trade too much, sometimes i have 0 trades a days, sometimes 2-3, I trade only best trades A+ and earn money, I dont want to lose $ to some C- craps
(And I did trade h4+, but I dont feel ok with it. I cant be hours and days in trade, I'm nervous etc. Why should I worry about h4 ? For my personality and my style is best m5. I can wait hours,days, even weeks for A+ setup, but I can't hold them so m5 - this is best for me)


Quoting Rastaman
Jankone

I realize you have become very good at identifying these setups, and indeed your comment about the trader being more important than searching for better trading systems all the time. I fell into this trap and realized about a month ago that the problem is with me and not the trading system. That said, I am still looking for a system that I can use personally, and feel at ease with.

I wanted to ask why you trade only the 5m TF with this system, obviously you will be entering more trades on 5m and expose your account more, as well as pay...
  • #75
  • Apr 19, 2009 7:15am Apr 19, 2009 7:15am
I have taken all the posts i had in my notes from Ryanmcd and reorganised them in this doc to hopefully give a clearer picture. The black writing is me, the blue text are Ryanmcd's words.



If you have any questions then please direct them to Jankone - this is his thread and i have no experience yet of this method on this tf.
Please also note that so far Jankone has only provided examples of the CT trades - please allow him the time to take us through all of the setups at his pace.
Attached File(s)
File Type: doc RYANMCD.doc   295 KB | 5,588 downloads
  • #76
  • Apr 19, 2009 7:26am Apr 19, 2009 7:26am
Thanks man.
I have his material too, in favorites and +- 20 charts i think.

I will try to post it in future.

He is master of m5

Quoting simoncs
I have taken all the posts i had in my notes from Ryanmcd and reorganised them in this doc to hopefully give a clearer picture. The black writing is me, the blue text are Ryanmcd's words.



If you have any questions then please direct them to Jankone - this is his thread and i have no experience yet of this method on this tf.
Please also note that so far Jankone has only provided examples of the CT trades - please allow him the time to take us through all of the setups at his pace.
  • #77
  • Apr 19, 2009 7:40am Apr 19, 2009 7:40am
Quoting Jankone
Thanks man.
I have his material too, in favorites and +- 20 charts i think.

I will try to post it in future.

He is master of m5
no worries

You have posted a number of charts from different pairs/indexes etc. Obviously with such small profit targets it makes sense to trade those with smaller spreads but do you have a favourite?
  • #78
  • Apr 19, 2009 8:49am Apr 19, 2009 8:49am
Quoting Jankone
No man, pls check the pdf file how the pin bar looks like. and
here for divergence. http://www.babypips.com/school/diver...eat_sheet.html
this pinbar is like some pinbar in your example
please see photo it is the previous photo without next candle , isn`t divergence ?
Attached Image (click to enlarge)
Click to Enlarge Name: pinbar 4 .gif Size: 26 KB
  • #79
  • Apr 19, 2009 9:05am Apr 19, 2009 9:05am
Ok i see the div now. BUT
Yes, a bar looks like pinbar, but look WHERE IT IS. He is hidden, it's about pinbar but even about his place. Trades like this I dont take.

This is example, pinbar is looking great, but look WHERE HE IS.Look at his place.
Your "pinbar" is hidden bar in traffic.

This is how it should looks like.

Do you see the difference now?

http://img22.imageshack.us/img22/6906/gum5.gif



Quoting 919
this pinbar is like some pinbar in your example
please see photo it is the previous photo without next candle , isn`t divergence ?
  • #80
  • Apr 19, 2009 9:22am Apr 19, 2009 9:22am
if you are going to trade every bar, sooner or later you will delete your acount. Look at many fakes.
I can see only 2 setups, one ( it's safer, because it's with trend) and last, my trade.
Attached Image (click to enlarge)
Click to Enlarge Name: pinbars.gif Size: 13 KB
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