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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #741
  • Jul 21, 2009 1:15pm Jul 21, 2009 1:15pm
Quoting AnimalHungry
Often when a strong trend is underway price will bounce off the mid BB and doesn't go anywhere near the opposite BB until the trend loses momentum. I thought the idea with Ryan's/Jankone's method is to look for strong trends and trade a pullback like this?

So do you only take TC trades from the outer BBs? From my (very) limited testing TC trades off pullbacks from the outer BBs don't fare as well as those off the mid BB.

Simon
Do you look for a direct bounce from the mid BB, or a push through, and then a pullback below? I use look for double tops or bottoms with div, that are also pullbacks. Only get a few of those a week... mid bb or upper bb is fine, as long as it isn't pushing through the top BB to much
  • #742
  • Jul 21, 2009 1:39pm Jul 21, 2009 1:39pm
Quoting Jlr
Do you look for a direct bounce from the mid BB, or a push through, and then a pullback below? I use look for double tops or bottoms with div, that are also pullbacks. Only get a few of those a week... mid bb or upper bb is fine, as long as it isn't pushing through the top BB to much
The best mid BB setup I've found is where price is hugging the outer BB on a strong trend and then takes a breather and creates a PB/outside bar with a nice long nose through the mid BB. Ideally price would just dip down without consolidating too much (consolidation = traffic = gets in the way of the trade, of course). I've posted a couple of examples, but Jankone has posted more earlier in this thread.

So do you only take TC trades with divergence? I've found that most of the time on TC trades you don't get any div, but it's fine if you have a strong trend.

Could you post a chart of your double tops/bottoms with div please? I'm just trying to visualize it.

Cheers
Simon
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  • #743
  • Jul 21, 2009 1:55pm Jul 21, 2009 1:55pm
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Heres 2 I took this week, the 2 better ones. What do you think? UJ had hidden divergence. Third is more of a doji, but it was a pin until 10 seconds before close, and I guess I was stubborn. 4th is CT, I didn't trade it, came to my comp a little late.... but a nice set up for CT imo
  • #744
  • Jul 21, 2009 2:16pm Jul 21, 2009 2:16pm
Quoting Jlr
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Heres 2 I took this week, the 2 better ones. What do you think? UJ had hidden divergence. Third is more of a doji, but it was a pin until 10 seconds before close, and I guess I was stubborn. 4th is CT, I didn't trade it, came to my comp a little late.... but a nice set up for CT imo
All nice trades IMO. The UJ one is in a downtrend and price pulled back to the mid BB to form a shapely PB, just like I was describing.

I would probably say that the other 3 trades are consolidation trades since the BBs have tightened up and the PBs appeared at the outer BBs. I really like these setups as they're easy to identify. Often though I've found that these consolidation trades will hit the opposite BB and then bounce back and trade along in that range for a while until price breaks out. You were fortunate to catch the breakout in your EU trade but the EJ and UC both reversed at the opposite BB. The only way to make sure you capture the breakouts I guess is to leave your stop at BE when price hits the opposite BB. You'll have more BE trades, but then the breakouts should more than compensate.

Just out of interest, how did you manage the EU and EJ trades since they both reversed off the opposite BB?

Simon
  • #745
  • Jul 21, 2009 2:23pm Jul 21, 2009 2:23pm
Quoting AnimalHungry
All nice trades IMO. The UJ one is in a downtrend and price pulled back to the mid BB to form a shapely PB, just like I was describing.

I would probably say that the other 3 trades are consolidation trades since the BBs have tightened up and the PBs appeared at the outer BBs. I really like these setups as they're easy to identify. Often though I've found that these consolidation trades will hit the opposite BB and then bounce back and trade along in that range for a while until price breaks out. You were fortunate to catch the breakout in your...
E/U I took 2:1 on it, which was right at the floor trader pivot thing. E/J I took 1:1, it was nearing the end of the day, and I figured best to just take what was given.
The b/e thing I'm still undecided about. With the trend, I don't mind it so much, as long as its past 1:1. CT generally seems to chop around though, so I'd almost rather just pull it if I'm going to goto b/e at 1:1. Still trying to decide what I want to do...
  • #746
  • Jul 21, 2009 8:19pm Jul 21, 2009 8:19pm
wow, a lot of posts lately!

just want to share ikki's eurjpy trade which he posted in the james16 thread last night/yesterday. he took +15, but as u can see price hugged the lower BB/walked the lower bolli band for a potential +/- 70 - 90pips total.
  • #747
  • Jul 22, 2009 3:51am Jul 22, 2009 3:51am
It's really interteresting, inside bars are sometimes nice too, but it's another setup and i want to show pinbars only
anyway keep posting if you want

Quoting Jigsaw
Outside bars - yes, however I will trade DBLHC and I'll even trade it if the low is within 10 pipettes of the other low.

I would play them on the break if I could but it's pointless because you will defintely get slipped then, and anyway I don't think my broker allows me to put orders in that close, I just enter on the close. I don't put the stop below I usually have a fixed stop.

Like it's a stop of 10 for the EURUSD, stop of 15 for the GBPUSD.

Which ones did I not take ? If you point them out I can give you better reasoning, I use S/R, I...
  • #748
  • Jul 22, 2009 3:57am Jul 22, 2009 3:57am
yep gbp usd m5 was nice, but against strong downtrend.

not enough trades, i just watch charts and wait for my A+
I trade for money, not for adrenalin

Quoting Jigsaw
Lol Man Im playing that today, I am on that mountainy level park, such a pain in the arse !

Any trades today Jankone bro ?

GBPUSD had a nice countertrend pin off the round number that was nice.
  • #749
  • Jul 22, 2009 4:03am Jul 22, 2009 4:03am
Good job man !
nice trend trades

Quoting AnimalHungry
The best mid BB setup I've found is where price is hugging the outer BB on a strong trend and then takes a breather and creates a PB/outside bar with a nice long nose through the mid BB. Ideally price would just dip down without consolidating too much (consolidation = traffic = gets in the way of the trade, of course). I've posted a couple of examples, but Jankone has posted more earlier in this thread.

So do you only take TC trades with divergence? I've found that most of the time on TC trades you don't get any div, but it's fine if you have a...
  • #750
  • Jul 22, 2009 4:11am Jul 22, 2009 4:11am
eur jpy m5, simply no trend, huge pin in sideways market + nice div
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  • #751
  • Jul 22, 2009 6:57am Jul 22, 2009 6:57am
another ct example. nice big pin, nice div.really fast trade
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  • #752
  • Jul 22, 2009 8:01am Jul 22, 2009 8:01am
Quoting Jankone
eur jpy m5, simply no trend, huge pin in sideways market + nice div
Jankone,
for the sake of discussion/learning...
in this eurjpy chart, u forgot to mention the next three small PBs as possible trades.
the first PB is off the mid-BB & 2 MAs & (not sure, the chart u posted does not load properly) & RSI 50 level rejection
the second PB was off a pullback to the blue MA (seem to have closed at/above the MA) & seems to have a small bull div. on RSI.
the 3rd PB was off the red MA + Bolli lower band touch/rejection & seems to have a small bull div on RSI as well.
  • #753
  • Edited 9:01am Jul 22, 2009 8:34am | Edited 9:01am
USD/CAD trade with divergence at previous low.


EDIT: out at -15 pips
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  • #754
  • Jul 22, 2009 10:09am Jul 22, 2009 10:09am
Thanks man,
i saw them, but i wanted to show my trade...i will edit it.
or you can show, "what you see"

Quoting supremeChaos
Jankone,
for the sake of discussion/learning...
in this eurjpy chart, u forgot to mention the next three small PBs as possible trades.
the first PB is off the mid-BB & 2 MAs & (not sure, the chart u posted does not load properly) & RSI 50 level rejection
the second PB was off a pullback to the blue MA (seem to have closed at/above the MA) & seems to have a small bull div. on RSI.
the 3rd PB was off the red MA + Bolli lower band touch/rejection & seems to have a small bull div on RSI as well.
  • #755
  • Jul 22, 2009 10:12am Jul 22, 2009 10:12am
Quoting Denarii
USD/CAD trade with divergence at previous low.


EDIT: out at -15 pips
You really have to be careful around big round numbers, like the 1.10 here, since there's often a ton of orderflow built up to which price can react - sometimes quite violently. This is especially true on lower timeframes where there is more noise and volatility anyway. I would have wanted to see a close of the PB nicely above the 1.10 and those bar lows in that area.

I plot off the big round numbers on all my charts no matter what method I'm trading/testing because, IMHO, you always need to have them in mind.

Simon
  • #756
  • Jul 22, 2009 12:01pm Jul 22, 2009 12:01pm
Quoting AnimalHungry
You really have to be careful around big round numbers, like the 1.10 here, since there's often a ton of orderflow built up to which price can react - sometimes quite violently. This is especially true on lower timeframes where there is more noise and volatility anyway. I would have wanted to see a close of the PB nicely above the 1.10 and those bar lows in that area.

I plot off the big round numbers on all my charts no matter what method I'm trading/testing because, IMHO, you always need to have them in mind.

Simon
Thanks for the advice. I do normally use round numbers in higher time frame trading I just got in a rush with this.
  • #757
  • Jul 22, 2009 12:22pm Jul 22, 2009 12:22pm
Quoting Denarii
Thanks for the advice. I do normally use round numbers in higher time frame trading I just got in a rush with this.
I know exactly what you mean. You have very little time to think on the M5 charts so you have to have everything plotted out, on your charts or in your head, in advance. I haven't even started demoing the M5 yet as I feel I need some time just watching the charts without the added complication of placing trades LOL!

Simon
  • #758
  • Jul 22, 2009 12:25pm Jul 22, 2009 12:25pm
Quoting AnimalHungry
I know exactly what you mean. You have very little time to think on the M5 charts so you have to have everything plotted out, on your charts or in your head, in advance. I haven't even started demoing the M5 yet as I feel I need some time just watching the charts without the added complication of placing trades LOL!

Simon
You can use floor pivots, they help with that a lot I think.
  • #759
  • Jul 23, 2009 11:11am Jul 23, 2009 11:11am
Since this is a very visual method, I wanted to look at all the charts posted here again, and I thought it would be a useful reference source to have them all in one place.

So, in case anyone's interested, I've put all of Ryan's and Jankone's charts, together with some charts commented on/blessed by Jankone, Supreme and other seniors, into a Word doc here:

http://www.mediafire.com/?sharekey=d...4e75f6e8ebb871

Enjoy!

Simon
  • #760
  • Jul 23, 2009 11:22pm Jul 23, 2009 11:22pm
AnimalHungry,
wow, how did u go about that? simple cut & paste?
the comments may not be top-notch, but charts will likely speak for themselves. worth printing &/or reviewing repeatedly.

what an effort.
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