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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #581
  • Jul 7, 2009 10:57pm Jul 7, 2009 10:57pm
Hi friends,
Do u guys wait for divergence to form at the PB or the bar after the PB? To my notice, more often than not, divergence only confirmed after a bar next to the PB?

Thanks.
  • #582
  • Jul 8, 2009 1:20am Jul 8, 2009 1:20am
Thanks for the backtest data! Please don't forget to include spread (2 pips for e/u).

I'm on vacation for a month so I have not been active at all trading, but I love to see the good work going on in here.

Quoting Jlr
Just some backtest results from april to recent:
Divergence, plus a tail, taken past the mid BB, 61 percent win perctange on r;r 1:1, 248 trades in total... of course no discretion used whatsoever, not bad
Divergence, plus a tail, taken past the mid BB, with the trend 77 percent win perctange on r:r 1:1, 117 total trades

Of course CT is valueable too, but I think you need to be more careful, and go for higher R:R. Just look at the gbp/usd for the bottom as of the last day, that was a really nice trade I will backtest some more things when I...
  • #583
  • Jul 8, 2009 1:36am Jul 8, 2009 1:36am
Quoting Jlr
Your first trade is hidden divergence (I think), possible indicating bullish. The divergence you'll want generally is price making a lower low, indicator making a higher low, or price making a higher high, indicator making a lower high (such as the trade you have highlighted on the bottom of your chart).

To squeezy, you'll want to trade when the market is most active
thnk u jlr & kodziro,
that should be london session right, my only fear with this, is getting thrown in the air on a 5min chart.anyways i havnt dropped down to 5min yet, still enjoying the 4hr & above tf.
but jst incase i decide to demo trade this, ill let u guys kno wat time i worked with & my obsevations
cheers
Simplicity is the key to success
  • #584
  • Jul 8, 2009 2:10am Jul 8, 2009 2:10am
  •  LSs
  • | Joined Jan 2009 | Status: I switched to the smarter side | 84 Posts
Hi guys, been lurking in this thread for a while,

Here's a current PB in GJ 1H. (Sorry if i'm being disrespectful for not staying with 5M and EU... but again this proves that any TF and currency works)


This is a reversal trade, with PB forming off the BB + 151.00 PPZ + divergence.


LSs
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  • #585
  • Jul 8, 2009 2:33am Jul 8, 2009 2:33am
Quoting LSs
Hi guys, been lurking in this thread for a while,

Here's a current PB in GJ 1H. (Sorry if i'm being disrespectful for not staying with 5M and EU... but again this proves that any TF and currency works)


This is a reversal trade, with PB forming off the BB + 151.00 PPZ + divergence.


LSs
very nice LSs, i also saw this , have a look at your 4hr charts, should be forming a pin or buob, which in my opinion is very tradable, infact pull up all the yen charts u hav and have a look...they all are counter trend trades with divergenges.....
lets see how they play out
cheers
Simplicity is the key to success
  • #586
  • Jul 8, 2009 2:59am Jul 8, 2009 2:59am
Quoting LSs
Hi guys, been lurking in this thread for a while,

Here's a current PB in GJ 1H. (Sorry if i'm being disrespectful for not staying with 5M and EU... but again this proves that any TF and currency works)


This is a reversal trade, with PB forming off the BB + 151.00 PPZ + divergence.


LSs
Not bad really, also off 365 daily ema. Always harder to go that heavily CT though, if I played that, would probably want a nice reward
  • #587
  • Jul 8, 2009 3:03am Jul 8, 2009 3:03am
Quoting artov
Thanks for the backtest data! Please don't forget to include spread (2 pips for e/u)....
Jlr,
is this a backtest on eurusd? M5 time frame? what MT4 broker?
thanks!
  • #588
  • Jul 8, 2009 3:36am Jul 8, 2009 3:36am
  •  LSs
  • | Joined Jan 2009 | Status: I switched to the smarter side | 84 Posts
Indeed, the close of 4H chart should be very interesting.

Jankone, do tell me if posting charts other that M5 is not to your liking here ya.

LSs
  • #589
  • Jul 8, 2009 8:48am Jul 8, 2009 8:48am
hey jankone
have a look at this trades i just caught, and tell me wat u think about them,are these trades u wld have taken
how many pips above/below the pin do u set ur stop, what do u use for take profit areas....do u do 1:1 in terms of risk:reward
thnx, i feel its not just about seeing the pins + divergence fast but also about doing a quick and fast calc of ur R:R
wld like to read a quick summary of how u do it
btw, dnt worry, these trades are on demo
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Simplicity is the key to success
  • #590
  • Jul 8, 2009 10:20am Jul 8, 2009 10:20am
Quoting squeezy
hey jankone
have a look at this trades i just caught, and tell me wat u think about them,are these trades u wld have taken
how many pips above/below the pin do u set ur stop, what do u use for take profit areas....do u do 1:1 in terms of risk:reward
thnx, i feel its not just about seeing the pins + divergence fast but also about doing a quick and fast calc of ur R:R
wld like to read a quick summary of how u do it
btw, dnt worry, these trades are on demo
Thats the opposite of the div you want to look for
  • #591
  • Jul 8, 2009 11:14am Jul 8, 2009 11:14am
Quoting Jlr
Thats the opposite of the div you want to look for
Why? Its hidden divergence.
  • #592
  • Jul 8, 2009 12:15pm Jul 8, 2009 12:15pm
Quoting supremeChaos
Jlr,
is this a backtest on eurusd? M5 time frame? what MT4 broker?
thanks!
Ya e/u, 5 min, on fxpro. I could give more info when I get home, have the papers lying around somewhere.

Is it hidden divergence? Thought it was hidden bullish divergence? Maybe not. Its advised just to trade straight divergence, that is what is most obvious on the charts, and will cause people to click the bottons in your favor (or I assume that is the reason). Price with a higher high, div with a lower high, and vise versa. But obviously do what works for you.
  • #593
  • Jul 8, 2009 12:27pm Jul 8, 2009 12:27pm
Quoting Jlr
Ya e/u, 5 min, on fxpro. I could give more info when I get home, have the papers lying around somewhere.

Is it hidden divergence? Thought it was hidden bullish divergence? Maybe not. Its advised just to trade straight divergence, that is what is most obvious on the charts, and will cause people to click the bottons in your favor (or I assume that is the reason). Price with a higher high, div with a lower high, and vise versa. But obviously do what works for you.
Its hidden bearish divergence, price making LL, RSI making HH. Hidden trumps Regular divergence....though having said that the first chart didnt work out!

Be glad to hear more about your test results, were they taken just in London and/or NY hours? Did you allow for the spread + a couple of pips to break the pb?
  • #594
  • Jul 8, 2009 12:32pm Jul 8, 2009 12:32pm
Quoting glynnt
Its hidden bearish divergence, price making LL, RSI making HH. Hidden trumps Regular divergence....though having said that the first chart didnt work out!

Be glad to hear more about your test results, were they taken just in London and/or NY hours? Did you allow for the spread + a couple of pips to break the pb?
Hmm I'll have to look into that kind of divergence, just doing as was taught, and seems to work pretty well.

No, the trades were taken every hour the market was open. Was a simple divergence+tail or other form of PA, and taken past the mid BB, so if they didn't get past there, I didn't account for the trade. Really pretty rough backtest, was just testing things out. I forget the numbers, got a pretty good win percentage on 1:1, much better win perc with the trend though. Starting to come to the conclusion that purely trading the trend is just much easier. And no, I didn't account for the spread, and it is definitely a big issue during some market periods.
  • #595
  • Jul 8, 2009 1:33pm Jul 8, 2009 1:33pm
Quoting Jankone
only "for inspiration"
I was not at home,so no trade.

Really wonderful day on gbpusd !

1) huge pin, trend is down, so ct. div = trade
2)double top + div, nice pin. possible trade
3) ct , but big div and big pin = trade
4) definetely no trade, small pin, small nose, bad location for me. = no trade
Hello Jankone!
1)Why did you say the location for pin bar in trade number 4 is bad ?
2)If we have a nice div but the pin bar comes 2 or 3 bars after that div, do you take the trade?
  • #596
  • Jul 8, 2009 3:27pm Jul 8, 2009 3:27pm
Great work Jankone!

will be around this thread for sure,

I'm olso following james16 thread
  • #597
  • Jul 8, 2009 3:40pm Jul 8, 2009 3:40pm
Hi.
Yesterday`s trade opportunity on EU 1h , div + pinbar testing support. Sadly I missed it.
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  • #598
  • Jul 8, 2009 4:32pm Jul 8, 2009 4:32pm
Quoting kodziro
Hi.
Yesterday`s trade opportunity on EU 1h , div + pinbar testing support. Sadly I missed it.
I think its good, more div and a better bar would have been nice, but good level and w/ trend
  • #599
  • Jul 9, 2009 8:16am Jul 9, 2009 8:16am
Hi Everyone,
Referring to the chart, both PBs would hv produce profits. Which one do u guys fancy with a. or b.? comments r welcomed.

I took a. , exited at R/R 1.0
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  • #600
  • Jul 9, 2009 11:28am Jul 9, 2009 11:28am
lefteye,
what are the MAs on your chart?
if i were to choose, i would definitely take b.
a. was near the upper Bolli. band, & price formed a possible reversal down bar prior a.. it was basically in the middle of the mid-Bolli band & the upper Bolli.
b. on the other hand was on the middle band, touched it (along with the 21ema?) & reversed.
The macd & rsi on your chart were not in favor of my choice (well rsi i think was on the 50 level & bounced, butmacd is moving down), but i made my choice solely on the location within the Bolli.
Go for high probability setups. u should try & take trades on 3 areas:
upper & lower bolli band (the two ideal spots), & the mid-band.
Anything in between these 3 areas is usually no-man's land & could go anywhere. just mho.
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