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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #241
  • Apr 24, 2009 2:17pm Apr 24, 2009 2:17pm
You need to think only in % numbers and statistics.
Don't care about $.Take care about your risk-reward-ratio and % of your
wins.

can you imagine this ? You are on 1,5RRR ( 10 SL, 15 PT) - (sometimes is possible more)
and
IF you can have only 50% trades winners. You are a profitable trader.
Yes, you don't earn millions, but is better start than lose money with some B- trades or without a system and learn almost nothing.




Quoting matte
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.
  • #242
  • Apr 24, 2009 2:22pm Apr 24, 2009 2:22pm
Quoting Jankone
You need to think only in % numbers and statistics.
Don't care about $.Take care about your risk-reward-ratio and % of your
wins.

can you imagine this ? You are on 1,5RRR ( 10 SL, 15 PT) - (sometimes is possible more)
and
IF you can have only 50% trades winners. You are a profitable trader.
Yes, you don't earn millions, but is better start than lose money with some B- trades or without a system and learn almost nothing.

ok, i agree.. but i haven't already understand something about SL and TP:
-so you use a fixed TP of 15 and a fixed SL of 10 pips?
-even in CT and in IT trades?
i read somewhere to put SL few pips over the top or under the bottom of the pinbar, non fixed at 10 pips.
could you explain me this quesiton?
  • #243
  • Apr 24, 2009 2:30pm Apr 24, 2009 2:30pm
It's something you need to test.
- Personally in CT i use for PT a few pips close to ema 21
-with trend it's 1st s/r, or some previous lows...round numbers...
even a pivot indicator is good sometimes for pt

Sl i have usually few pips over the top or under the bottom of the pinbar, but (once again) " If there is no power and it's after +-3 bars -+5 pips and trade is sleeping, I kill it"

When I see my old trades, most of them hit their PT really fast.

Look you can size your position too, Oanda is great for it.

10 pips - 1 lot
20 pips 0,5 lot
risk in %....
etc...depend on your account size

Quoting matte
ok, i agree.. but i haven't already understand something about SL and TP:
-so you use a fixed TP of 15 and a fixed SL of 10 pips?
-even in CT and in IT trades?
i read somewhere to put SL few pips over the top or under the bottom of the pinbar, non fixed at 10 pips.
could you explain me this quesiton?
  • #244
  • Apr 24, 2009 2:32pm Apr 24, 2009 2:32pm
ok, thank you. i repeat the question i asked before: can you please show me some recente (today or yesterday) good pinbar IN TREND?
  • #245
  • Apr 24, 2009 2:51pm Apr 24, 2009 2:51pm
There are many CT pinbars, can't see really A+ with trend.
Just wait
Quoting matte
ok, thank you. i repeat the question i asked before: can you please show me some recente (today or yesterday) good pinbar IN TREND?
  • #246
  • Apr 24, 2009 2:55pm Apr 24, 2009 2:55pm
ok Jankone. now i'm going to check again today and yesterday, to find and post the best CT pintrades, in my opinion. after that, when amd if you can, should you correct them? with no hurry obviously
  • #247
  • Apr 24, 2009 3:00pm Apr 24, 2009 3:00pm
Yes, I like your enthusiasm

I'll try to correct them.

But you know, it's friday evening in here. and we have best beer


Quoting matte
ok Jankone. now i'm going to check again today and yesterday, to find and post the best CT pintrades, in my opinion. after that, when amd if you can, should you correct them? with no hurry obviously
  • #248
  • Apr 24, 2009 3:01pm Apr 24, 2009 3:01pm
also here in italy it's friday, 22 o'clock. where are you from my dear?
  • #249
  • Apr 24, 2009 3:29pm Apr 24, 2009 3:29pm
It's exciting to see you hungry to learn Good!

Well the PPZ is a Price Pivot Zone where price tends to flip around. It's not an exact area but a zone. I suggest you to view this webinar http://www.james16group.us/Guests/video/PIVOTZONES.wmv. I won't explain it in my own words because Jim explains it much better in the video than I can.

Length of the bar is important, that shows the amount of buying pressure or selling pressure. Even more important is how much the body pops out of the previous bar before closing back into the previous bar.

Traffic is where the price has been very active meaning there are some bullish and bearish bars to be found within a certain area.

Look at the screenshot posted here: http://www.forexfactory.com/showpost...&postcount=221. Pinbar is heading into lots of traffic where it is likely to flip around. And it did, next bar broke the pin on the downside but was bought so hard it broke the upside of the pinbar.

See the attached screenshot for an example where there is no traffic where the pinbar is heading to. That would be considered much safer to trade than one where there is traffic.

Quoting matte
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..
Attached Image (click to enlarge)
Click to Enlarge Name: traffic.gif Size: 21 KB
  • #250
  • Apr 24, 2009 4:42pm Apr 24, 2009 4:42pm
..........so in the second screenshot, the just born pinbar had had a nice terrain in wich rise, because there were not trafic above its head. have i understand?
  • #251
  • Apr 24, 2009 4:45pm Apr 24, 2009 4:45pm
here comes several pinbar i've found in the last 2 days over the 8 cross i look. everyone is welcome to comment them. i'te tried to select only the best, in fact, there are just a few.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 22 KB
Click to Enlarge Name: Capture2.PNG Size: 27 KB
Click to Enlarge Name: Capture4.PNG Size: 24 KB
Click to Enlarge Name: Capture5.PNG Size: 26 KB
Click to Enlarge Name: Capture6.PNG Size: 47 KB
Click to Enlarge Name: Capture7.PNG Size: 31 KB
Attached Image
  • #252
  • Apr 24, 2009 4:47pm Apr 24, 2009 4:47pm
there a limit of 7 attachments, did you know? i didn't..here is the last one
Attached Image (click to enlarge)
Click to Enlarge Name: Capture8.PNG Size: 28 KB
  • #253
  • Apr 24, 2009 4:50pm Apr 24, 2009 4:50pm
That's right, if you want to learn more about good pinbars check out the J16 thread. It's amazing what you can learn there.

Quoting matte
..........so in the second screenshot, the just born pinbar had had a nice terrain in wich rise, because there were not trafic above its head. have i understand?
  • #254
  • Apr 24, 2009 4:53pm Apr 24, 2009 4:53pm
ok, i'll see the video and read the thread. hem...this thread?

http://www.forexfactory.com/showthre...2331&page=1870

1870 pages all in english!?!?
  • #255
  • Apr 24, 2009 5:01pm Apr 24, 2009 5:01pm
Yes sir that's right. Be sure to check out the first post of James to get into it. He has some free webinars too http://www.james16group.us/Guests/guestmaterial.html.

Personally I started by checking the last 20-30 pages and started following every page after that. And I've learned a ton of good stuff.

Jankone I hope you don't mind that I talk about J16 here in your thread. But I think it's essential for newbies who are not familiar with price action trading.

Quoting matte
ok, i'll see the video and read the thread. hem...this thread?

http://www.forexfactory.com/showthre...2331&page=1870

1870 pages all in english!?!?
  • #256
  • Apr 24, 2009 5:03pm Apr 24, 2009 5:03pm
ok, thank you, and goodnight
  • #257
  • Apr 25, 2009 4:48am Apr 25, 2009 4:48am
some of the pics i've posted in the previous page are not with divergenge, but i think there age good pinbars so i've posted anyway. i would like to have your thought about all the pics, also if there is not a divergence. if you see this set up, what would you do?
  • #258
  • Apr 26, 2009 10:46am Apr 26, 2009 10:46am
Quoting Jankone
6 for rsi, 18/2 for BB
Hi Jankone..thanks for all the great info and help. I use fx accu charts..are the settings for RSI at 6 for all diff chart packages or just meta? Thanks!
  • #259
  • Apr 26, 2009 11:54am Apr 26, 2009 11:54am
I have experience only with metatrader ( interbank,fx pro etc.)
anyway, you can use MT for analysis and trade real, where you need ( oanda etc.)

Quoting StarChild
Hi Jankone..thanks for all the great info and help. I use fx accu charts..are the settings for RSI at 6 for all diff chart packages or just meta? Thanks!
  • #260
  • Apr 26, 2009 10:47pm Apr 26, 2009 10:47pm
jank just curious.. what time do you generally watch for these 5minute setups? have you experimented at all and found other sessions to be more reliable/profitable?
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