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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #141
  • Apr 22, 2009 3:12am Apr 22, 2009 3:12am
I would say that's more of a doji than a good looking pin bar. However, it wasn't terrible, and if you had placed your stop 4-5 pips beyond the end of it, you would have done well on the trade.

There was divergence as well, so that's good.
  • #142
  • Apr 22, 2009 3:13am Apr 22, 2009 3:13am
Quoting matte
traded and stopped on the low of the last candle.
was i in wrong or it was a good trade with a bad end?
It was CT trade during strong trend. There was div there, but the main trend was too strong. In general, setup was not bad, it simply didn't work out - losses DO happen.
One Chart is Worth Ten Thousand Words.
  • #143
  • Apr 22, 2009 3:14am Apr 22, 2009 3:14am
you explanetion is really clear, thank you b-rock and thank you forex007. i'm understanding more and more
  • #144
  • Apr 22, 2009 3:16am Apr 22, 2009 3:16am
Quoting matte
bitch!
You have to stay cool, Matteo (I know that's hard for an Italian )

Trading is a marathon, not a football match

See chart.
Attached Image
One Chart is Worth Ten Thousand Words.
  • #145
  • Apr 22, 2009 3:23am Apr 22, 2009 3:23am
Quoting Jigsaw
In terms of how the Pin bars actually LOOK I definately think that . . a . . b . . and e . . Are the best "looking ones" if you get me.
You have to be careful, Jigsaw, I am watching you
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One Chart is Worth Ten Thousand Words.
  • #146
  • Apr 22, 2009 3:47am Apr 22, 2009 3:47am
ok guys, i'm sorry for the bad word.
i've traded this one..pinbar good and good also the divergence.
what's your opinion? it was EURJPY
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  • #147
  • Apr 22, 2009 3:50am Apr 22, 2009 3:50am
Hi Jankone what session/time do you usually trade this system?
  • #148
  • Apr 22, 2009 3:57am Apr 22, 2009 3:57am
Quoting matte
ok guys, i'm sorry for the bad word.
i've traded this one..pinbar good and good also the divergence.
what's your opinion? it was EURJPY
It's not Ryanmcd-style trade, but a good one anyway - that PB also made lower High (with div).
One Chart is Worth Ten Thousand Words.
  • #149
  • Apr 22, 2009 4:05am Apr 22, 2009 4:05am
ok, but why it's not ryan's style?
here's the last trade on GBPUSD..gone bad (maybe because i was again against a strong trend?). thoughts?
Attached Image (click to enlarge)
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  • #150
  • Apr 22, 2009 4:06am Apr 22, 2009 4:06am
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Click to Enlarge Name: pinbar 9 .gif Size: 20 KB
  • #151
  • Apr 22, 2009 4:27am Apr 22, 2009 4:27am
Quoting matte
ok, but why it's not ryan's style?
here's the last trade on GBPUSD..gone bad (maybe because i was again against a strong trend?). thoughts?
Quoting 919
I took a demo loss on this as well, I'll post charts at the end of the day on my days trading.

If you were picky you would have to say :

- Nose was not long enough

- Did not close within the previous candle.

However if you look at other pairs you see that the USD showed signs of weakness there and I was kind of surprised that it did not work out.
  • #152
  • Apr 22, 2009 4:32am Apr 22, 2009 4:32am
Quoting matte
ok, but why it's not ryan's style?
here's the last trade on GBPUSD..gone bad (maybe because i was again against a strong trend?). thoughts?
Ryanmcd: strong trend, PB off mid-Bollinger or MA21.
One Chart is Worth Ten Thousand Words.
  • #153
  • Apr 22, 2009 4:34am Apr 22, 2009 4:34am
Quoting Forex007
You have to be careful, Jigsaw, I am watching you
lol

C'mon, It's easy to look back and say "oh this was the best set up" but I looked at it as if I was the one trading without seeing the stuff to the right. And thats what I did.

Trend was up imho on that chart because the faster MA was simply on top of the slower one, thats how I define it anyway, I asked Jankone what was the deal with the trend and he said it's that.

I know what you mean about "trend being down" by just eyeballing it the chart it looks as if its going down

Don't get me wrong, I am all for the "only take the best trades" etc etc and I am all for the James16 sniper rifle approach on my live account. But I think this is a different style of trading to be honest.

So I for one am going to be loosening my belt trade selection wise on this method (On demo for the time being)
  • #154
  • Apr 22, 2009 4:35am Apr 22, 2009 4:35am
Quoting matte
ok, but why it's not ryan's style?
here's the last trade on GBPUSD..gone bad (maybe because i was again against a strong trend?). thoughts?
Strong trend, a lot of UK news out today (hence jittery markets). Again, Ryanmcd mainly trades PB WITH THE TREND.
One Chart is Worth Ten Thousand Words.
  • #155
  • Apr 22, 2009 4:45am Apr 22, 2009 4:45am
Quoting Jigsaw
C'mon, It's easy to look back and say "oh this was the best set up"
Sure it is

BUT: Candle "C" made lower High (hence I'd doubt that trend was UP); if you thought trend was UP, then "C" was CT without div. Hence - no trade.

Quoting Jigsaw

Trend was up imho on that chart because the faster MA was simply on top of the slower one, thats how I define it anyway, I asked Jankone what was the deal with the trend and he said it's that
If only life was THAT simple

1. See about lower High above.
2. MAs were converging. It's not just about one above the other, it's about RELATIONSHIP between MAs, and relationship between MAs and price.

One Chart is Worth Ten Thousand Words.
  • #156
  • Apr 22, 2009 4:59am Apr 22, 2009 4:59am
Quoting Forex007
Sure it is

BUT: Candle "C" made lower High (hence I'd doubt that trend was UP); if you thought trend was UP, then "C" was CT without div. Hence - no trade.

2. MAs were converging. It's not just about one above the other, it's about RELATIONSHIP between MAs, and relationship between MAs and price.
I saw the lower high, I know what you mean, but I respectfully disagree.

Do you trade the 5Min a lot ?

Regards
Jig
  • #157
  • Apr 22, 2009 5:39am Apr 22, 2009 5:39am
Quoting Jigsaw
I saw the lower high, I know what you mean, but I respectfully disagree.
Do you trade the 5Min a lot ?
Disagree with what?

I trade primarily M5 and M15.
One Chart is Worth Ten Thousand Words.
  • #158
  • Apr 22, 2009 5:41am Apr 22, 2009 5:41am
Quoting Forex007
Disagree with what?

I trade primarily M5 and M15.
Cool the RyanMCD stuff is it ? Post some charts so I can learn something

Regards,
Jig
  • #159
  • Apr 22, 2009 6:10am Apr 22, 2009 6:10am
Quoting Jigsaw
Cool the RyanMCD stuff is it ? Post some charts so I can learn something
Ryanmcd is just one of the setups. I trade mainly J16, but on lower TFs. As for learning specific setups, search for Psych thread at FF and read every post by Islander and EV (you can start from the middle of the thread
One Chart is Worth Ten Thousand Words.
  • #160
  • Apr 22, 2009 6:18am Apr 22, 2009 6:18am
Quoting Forex007
Ryanmcd is just one of the setups. I trade mainly J16, but on lower TFs. As for learning specific setups, search for Psych thread at FF and read every post by Islander and EV (you can start from the middle of the thread
Cool, will look at it when I get a chance.
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