Jankone M5 thread

Technically this is not a pinbar on my feed, close was not within the previous bar.

It's also moving into A LOT of traffic (blue zone). I would not have traded this one.

If you entered on the break and put SL on the other side of the pinbar, you would have been stopped out.

ok artov, it's not a GOOD but is a NICE pinbar. not perfect..
stop loss is better some pips over the top 3-4-5 pips, and you wouldn't be taken.
this one was the best trade for today. but i've also had some losses :-(

what do you think about this artov? is on EURCHF

It bounces off very nice from the previous low. But heads into some traffic and after traffic a PPZ zone. In my opinion it would not have too much room to run. Would not take it.

EDIT: Check 4hr chart, another reason for me not to trade the 5m pb due to very strong PPZ zone. http://i41.tinypic.com/2ur88lh.gif

we are not on the same why: i would have taken it. my only doubt was on the upper shadow, i didn't like it. however, this one and some other 2 trades that i see only now went in take profit. but i was in coffe break. :-(
did you made something today?

No haven't traded today, was away most of the day. Mostly I trade the 4hr and daily chart so I don't need to be in front of the screen the whole day.

I want the trade to look very very good, the so called A+ trade. For sure there will be some B trades which will make you money. But they work out maybe 3-4 out of 10 times.

I want consistancy and overtrading is known as the enemy of consistancy. If I play 1 A+ trade in a day, that's fine. I'd rather take 1 A+ trade in a day than 3-4 B trades. Most of the times the R:R of that 1 A+ trade will make up for the 3-4 B trades.

And you are off with a lot less stress. I'm not sure but I assume you trade this in demo. Once you go to live trading, trust me your biggest obstacle won't be anymore trading setups but your emotions.

As Jacko said most of the scalpers do not succeed in trading more than 12 months due to overtrading and the stress involved. Taking B trades is certainly not good for your emotions.

First one I tried with this system. Seems like a good system from back testing. I guess this was just one of the few that fail.

This is USD/JPY.

small pinbar, too small. it's not well defined the pressure of the sellers. small small oinbar-->higher risk

(are you italian?)

PPZ again there and agree with Matte that it's pretty small. These kind of trades can be traded with SL to BE quickly.

artov, i'm agree with your rules, but i'm using a more risky method. can you please describe as best your rules?
what are the features of your trades?
what do you look at to choose wich trade follow and wich not?
the length of the shadow?
the body?
the close of the pinbar where must be?
PPZ are what?resistance and support? (why "PPZ")
what are the function of PPZ and trffic zone?
i would like to learn from you how to avoid risky trades..

really nice trade but I was

Thank you matte, this is the way. I really appreciate your efforts, very helpful for everyone is following this thread. I should invite you to keep on posting your ideas.
W l'Italia

thank you, deforexit, but i'm just new to this method, pay attention to everything i write, it should be all wrong.

EURGBP
nice pinbar
nice divergence
short for CT

Jankone can you please take a look at all my graphs and tell me if i'm ok or not, if i can hone my way of see your rules.
please correct my homework :-D

(pay attention, two graphs are wrong, i said there were 2 divergence but they are both the opposite of a divergence)

thank you

bad position, it's sideway market and even the pinbar is hidden (in the "shadow" of the other bars)

I think you need to be more selective and patiently :-)

Keep trying and demoing, one day, you will just "know" what and when to trade and when not.

I can give you an advice. Select one setup for begin - trend trading is easier and TRAIN this. Forget about CT and trade with trend nice pinbars. WHen you master this, add 2nd.

It's always better to know how to trade 100% 1 setup than don't know how to trade 2 setups

http://www.forexfactory.com/attachme...0&d=1240581879

This one was nice.

it's not good. look, it has changed to sideway's market then this pin. no trade.
http://www.forexfactory.com/attachme...8&d=1240565566

You are are opening my eyes :-)
ok for the the "hidden" ok for the "sideways"...till now i've understand everything you said.
thank you...with your advices i'm gettin more specialized. i hope someone will find my work and your corrections very very useful. it don't cost much to me, i learn, and if others learn too i'm glad to post more and more graphs.

Jankone, do you see some nice IN TREND pinbars in todays graphs?