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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #441
  • Jun 19, 2009 2:04pm Jun 19, 2009 2:04pm
wow, there was another great setup. missed. no trade
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  • #442
  • Jun 19, 2009 2:17pm Jun 19, 2009 2:17pm
I took 13 trades this week, 11 winners and 2 that stalled a bit and I cut, which ended up working out. All with the trend and all with divergence and all with decent to good looking PA bars, and all at BB extremes. Its tough to find them, to be able to plot the divergence on a trend pull back is tough, because it has to have made a new high, but with the results, I have no problem waiting About a trade every 6 hours on 5 min is a a lot of waiting, but I don't mind. I'll have to look through my charts later and try to find them.
  • #443
  • Jun 19, 2009 2:28pm Jun 19, 2009 2:28pm
nice man.
post' em up !
Quoting Jlr
I took 13 trades this week, 11 winners and 2 that stalled a bit and I cut, which ended up working out. All with the trend and all with divergence and all with decent to good looking PA bars, and all at BB extremes. Its tough to find them, to be able to plot the divergence on a trend pull back is tough, because it has to have made a new high, but with the results, I have no problem waiting About a trade every 6 hours on 5 min is a a lot of waiting, but I don't mind. I'll have to look through my charts later and try to find them.
  • #444
  • Jun 19, 2009 2:45pm Jun 19, 2009 2:45pm
Sure will do, sometime this weekend Hard to find them, lots of 5 min bars in between, but I'll get around to it later. Heres an example of what it would look like, a lot easier to find this one lol. This is probably more CT then the ones I took, but you get the idea.

http://i39.tinypic.com/33lphyc.gif
  • #445
  • Jun 21, 2009 9:31pm Jun 21, 2009 9:31pm
A beauty of a set up. Big pin, resistance, tons of divergence. Was going to wait for the 2nd test of that level to see if it would hold, being that its CT extra cautious, got the reaction I was looking for. Might still take a loss here, being CT I want more R:R, and this set up wrecks of a good turn around. Either way, small cash, and just still practicing really. Hope to get some discussion going here, loving this 5 min action, but still feel a ways away from being comfortable enough to go full account. Also still seeking something to add to my trading. Been backtesting tons of stuff but haven't found anything that even remotely looks like it'll give me an extra edge. Going to keep seeking.

http://i40.tinypic.com/334j6v7.gif
  • #446
  • Jun 21, 2009 11:35pm Jun 21, 2009 11:35pm
Quoting Jlr
I took 13 trades this week, 11 winners and 2 that stalled a bit and I cut, which ended up working out. All with the trend and all with divergence and all with decent to good looking PA bars, and all at BB extremes. Its tough to find them, to be able to plot the divergence on a trend pull back is tough, because it has to have made a new high, but with the results, I have no problem waiting About a trade every 6 hours on 5 min is a a lot of waiting, but I don't mind. I'll have to look through my charts later and try to find them.

How come nobody is using the RSI divergence indicator posted in Post #28?
http://www.forexfactory.com/showpost...6&postcount=28

Just change the rsi settings to 6 and you should be good to go.

It will at least remove one laborious task.
Starting to see instead of just looking.
  • #447
  • Jun 21, 2009 11:41pm Jun 21, 2009 11:41pm
Didn't know it existed, will check it out, ty.

Looks really nice, seems to miss some divergences though. Shows some that this catches, and then other very similar ones it seems to miss. I can't imagine programming this would be easy though, not sure how you'd define point a. and point b. to be measured from. Always impressed by this kind of stuff though.
  • #448
  • Jun 22, 2009 3:21am Jun 22, 2009 3:21am
Quoting Jlr
Didn't know it existed, will check it out, ty.

Looks really nice, seems to miss some divergences though. Shows some that this catches, and then other very similar ones it seems to miss. I can't imagine programming this would be easy though, not sure how you'd define point a. and point b. to be measured from. Always impressed by this kind of stuff though.
I take it you changed the RSI setting to 6 in both indicators?
Starting to see instead of just looking.
  • #449
  • Jun 22, 2009 3:34am Jun 22, 2009 3:34am
Quoting Rastaman
I take it you changed the RSI setting to 6 in both indicators?
Oh I see, I only changed it on 1, and it messed the whole thing up. Worked well without any changes, but was only previous rsi and didn't catch all of the div. Changed it on both and it works nicely. Is there anyway to set up alerts with this? Would be nice to not have to watch the screen at all Also to take out hidden divergence would be cool too. I just look for trades with typical div, with price making a higher high, and div making a lower low etc. Is this possible at all. Either way, thx for the nifty indicator.
  • #450
  • Jun 22, 2009 10:30pm Jun 22, 2009 10:30pm
Did anyone have any trades last week? I didn't. One would think that being in the 5min timeframe you would get at least 1 trade a day but I think it is not the case with this strategy. Maybe it's the price you pay for an excellent win/loss ratio.
what about you jankone, no trades or simply not enuff time to trade/post?
  • #451
  • Jun 23, 2009 3:00am Jun 23, 2009 3:00am
Quoting judith
Did anyone have any trades last week? I didn't. One would think that being in the 5min timeframe you would get at least 1 trade a day but I think it is not the case with this strategy. Maybe it's the price you pay for an excellent win/loss ratio.
what about you jankone, no trades or simply not enuff time to trade/post?
Last week I had a lot, this week only the e/u I posted, that gave 1:1 but I was being greedy. Can you post something if you have it saved of what you consider a good play? Thx
  • #452
  • Jun 23, 2009 11:07am Jun 23, 2009 11:07am
Hey....
No time for both :-(
But you can't be sad. Look at older charts, really, it's nothing special, same setups, over and over again. It's pure gold, whatever timeframe or market you trade.
it's simple

Quoting judith
what about you jankone, no trades or simply not enuff time to trade/post?
  • #453
  • Jun 24, 2009 4:29am Jun 24, 2009 4:29am
Hi,
Even though I got no response to my question about the continual alerting of SMJones divergence indi, I have decided to post again in here.( I don't mind being ignored - I am used to it.)

I have fixed the problem I had with it and have constructed some other divergence indicators based upon it which I have posted the elsewhere in FF.
But I think that they really belong here - even if most of you are not interested.

Ian
Attached File(s)
File Type: mq4 MACD_Divergence_V1.0.mq4   13 KB | 753 downloads
File Type: mq4 OSMA_Divergence_V2_2.mq4   12 KB | 725 downloads
File Type: mq4 RSI_Divergence_v2.mq4   12 KB | 994 downloads
File Type: mq4 CCI_Divergence_V1.1.mq4   13 KB | 728 downloads
File Type: mq4 Stochastic_Divergence.mq4   13 KB | 761 downloads
  • #454
  • Jun 24, 2009 11:26am Jun 24, 2009 11:26am
I skipped the 1st pinbar, but took the 2nd one. Note HIDDEN divergence (i.e. RSI made HH whilst price didn't).

Exit at prior lows (RR1.5).
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One Chart is Worth Ten Thousand Words.
  • #455
  • Edited 12:13pm Jun 24, 2009 12:09pm | Edited 12:13pm
Quoting Forex007
I skipped the 1st pinbar, but took the 2nd one. Note HIDDEN divergence (i.e. RSI made HH whilst price didn't).

Exit at prior lows (RR1.5).
I did take the first pin bar, but I had my TP a bit lower (previous bottom), moved my Sl to BE after gaining 15 pips or so, and the SL was hit.
the second arrow, which won't happen again!!, is the result of not waiting for divergence when CT trading , but i looked so perfect though

of course as I'm writing this price i back up again
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  • #456
  • Jun 24, 2009 12:22pm Jun 24, 2009 12:22pm
Yes Judith, no div in ct = no trade.
it's nice looking pinbar, 1 could be winner but you lost next 5 same CT craps without div

Quoting judith
I did take the first pin bar, but I had my TP a bit lower (previous bottom), moved my Sl to BE after gaining 15 pips or so, and the SL was hit.
the second arrow, which won't happen again!!, is the result of not waiting for divergence when CT trading , but i looked so perfect though

of course as I'm writing this price i back up again
  • #457
  • Jun 24, 2009 1:41pm Jun 24, 2009 1:41pm
Quoting judith
the second arrow, which won't happen again!!, is the result of not waiting for divergence when CT trading , but i looked so perfect though
As many traders say, if you stay with the trend, you can only be wrong once. Picking bottoms with CTs can hit you again, and again, and again.
One Chart is Worth Ten Thousand Words.
  • #458
  • Jun 24, 2009 1:54pm Jun 24, 2009 1:54pm
Not a big fan of CT myself when trading this method, but trying to find ones that will give out good high probability, and good R:R. I think this G/U was absolutely ideal, though I came to it like 30 mins later . Nice triple bottom with divergence all the way through, clear pin, and nice close within previous bar range. What do you think, best of the best? OR are their better? I didn't really have any present s/r levels, I guess that could of helped.

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  • #459
  • Jun 24, 2009 2:07pm Jun 24, 2009 2:07pm
Quoting Jlr
Nice triple bottom with divergence all the way through, clear pin, and nice close within previous bar range. What do you think, best of the best? OR are their better? I didn't really have any present s/r levels, I guess that could of helped.
Nice one. I wouldn't call it CT as the market was flat for quite a while. More like a "fakey".
One Chart is Worth Ten Thousand Words.
  • #460
  • Jun 24, 2009 3:00pm Jun 24, 2009 3:00pm
This one would of been nice too. CT trade, quad bottom, no real divergence though, would have made me pass on it. Was also a trade before that, but didn't really make a lower low there, not super appealing, perhaps still tradeable. Still no definitive way of playing these CT trades, but I've noticed a lot of the runners come from double, triple, quad, etc, bottoms. I rarely have seen big reversals come about from just 5-20 mins or whatever of price action. Still a work in progress on the CT stuff, but would like to get it into my arsenal.

Yeah that trade probably wasn't really that CT, nice uptrend, and then a dead market period.

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