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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #801
  • Jul 30, 2009 1:46pm Jul 30, 2009 1:46pm
Quoting Jigsaw
I nearly always set my R:R at a fixed 1:4. I am that kind of a trader though I generally like big winners and small losers. Risk of .3 - .5% per trade.



Yeah the probability still goes up on the break I agree. I just hate getting slipped/requoted I guess.

All lies bro, I know your ballin'
One day I hope
  • #802
  • Jul 30, 2009 2:18pm Jul 30, 2009 2:18pm
Another trade, with notes on my reasons for entry and management plan.

In hindsight..the one I missed was probably the better one to take, but hindsight being 20/20 and all....
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  • #803
  • Jul 30, 2009 2:24pm Jul 30, 2009 2:24pm
Quoting dhh
15m trade, -8.
anyone see anything why my trades should not be taken today? thx.

Hi.
1.no divergence
2.no down trend
You should first check ADX ( trend strength indicator ) to avoid this situation.
Cheers.
  • #804
  • Jul 30, 2009 4:14pm Jul 30, 2009 4:14pm
Agree with the slippage issues on Alpari UK. Many times during good momentum I get requotes.

Once I had this idea of arbitrage trading based on a quick price feed from MBTrading. Anytime price changed there it needed 1-2 seconds to change on Alpari UK. When demoing I made HUGE profits, when doing it live I got stuck 9 out of 10 times in a requote and ended up break-even.

Quoting Jigsaw
I love their wide variety of things to trade too. Once MB Futures has their Metatrader working fine I'll transfer my main account to MB F, then I'll get some money together for an IB account mostly for shares.

IB need a minimum account of 10k don't they ?


Well I get slipped all the time on Alpari.co.uk, it's just down to Market conditions I guess if I put a buy stop or sell limit in, then price hits it Ill get slipped by a few pips into the next available price or whatever.

Alpari doesn't like me put in orders for 5min pinbars to break anyway....
  • #805
  • Jul 30, 2009 4:16pm Jul 30, 2009 4:16pm
a trade I looked at today (last bar), is this a yes/no to you guys?
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  • #806
  • Jul 30, 2009 4:20pm Jul 30, 2009 4:20pm
A yes. Personally I would like to see a longer trend prior to the pinbar, but still OK.

Quoting Icehocey77
a trade I looked at today (last bar), is this a yes/no to you guys?
  • #807
  • Jul 30, 2009 4:25pm Jul 30, 2009 4:25pm
Quoting Icehocey77
a trade I looked at today (last bar), is this a yes/no to you guys?
I would say its an "A" setup, but not an "A+" setup...see below attached chart for what would have been an ideal setup for *me*... I would have liked to see it go lower than the previous low/support bars.
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  • #808
  • Jul 30, 2009 11:19pm Jul 30, 2009 11:19pm
Man, I feel like I'm spamming this thread with tons of posts lately... I'm just excited to apply what I've been doing on the larger TFs to the 5min and get a much better ROI due to lower SL.

Here is another I took tonight. I managed to take profit at 2x my risk due to the quick move. Trend+pullback+SR+PA = high probability. The most difficult part of it all is having the patience to WAIT for the A+ setups and not waste money on the junk ones. However on the lower TFs it its some respects easier, because the A+ setups come MUCH more frequently than say on the Daily.
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  • #809
  • Jul 31, 2009 2:07am Jul 31, 2009 2:07am
Quoting Jlr
....
Ya IB is 10k minimum, I had to start playing cards again to scrap together enough cash (not really big balling hehe).
Quoting Jigsaw
....
All lies bro, I know your ballin'
Jlr,
Hihihhihi...
so u get "scrap money" from playing cards, huh. very nice


Quoting Icehocey77
a trade I looked at today (last bar), is this a yes/no to you guys?
no simple answer from me....but
it's always good to check the trend on higher TFs, like M15 up to H1/H4.
also, that pin may/may not fail. it can easily go down to the mid-Bolli & further more. ideally, that PB touches the mid-bolli (1.6418-ish) or even the previous highs (1.6410-ish) for a real good buy.


Quoting vijay s.
Man, I feel like I'm spamming this thread with tons of posts lately.....
I believe u are doing a good job sharing here.. Keep it up!
Quote
....Trend+pullback+SR+PA = high probability. The most difficult part of it all is having the patience to WAIT for the A+ setups and not waste money on the junk ones....
  • #810
  • Jul 31, 2009 7:31am Jul 31, 2009 7:31am
Quoting vijay s.
Man, I feel like I'm spamming this thread with tons of posts lately... I'm just excited to apply what I've been doing on the larger TFs to the 5min and get a much better ROI due to lower SL.

Here is another I took tonight. I managed to take profit at 2x my risk due to the quick move. Trend+pullback+SR+PA = high probability. The most difficult part of it all is having the patience to WAIT for the A+ setups and not waste money on the junk ones. However on the lower TFs it its some respects easier, because the A+ setups come MUCH more frequently...
Vijay (and anyone else for that matter), how do you enter your trades? I know Jigsaw enters a couple of seconds before bar close. Does anyone wait for the break of the price action bar to enter, or is that not possible on the 5min due to price moving too quickly?
  • #811
  • Jul 31, 2009 7:51am Jul 31, 2009 7:51am
For me it depends where the bar closes, if it's for example 1-2 pips away from a break of the bar, I might hold my finger on the trigger.

If it closes 5 pips away, then I wait for a break.

Quoting pmn100
Vijay (and anyone else for that matter), how do you enter your trades? I know Jigsaw enters a couple of seconds before bar close. Does anyone wait for the break of the price action bar to enter, or is that not possible on the 5min due to price moving too quickly?
  • #812
  • Jul 31, 2009 8:01am Jul 31, 2009 8:01am
Quoting pmn100
Vijay (and anyone else for that matter), how do you enter your trades? I know Jigsaw enters a couple of seconds before bar close. Does anyone wait for the break of the price action bar to enter, or is that not possible on the 5min due to price moving too quickly?
I have been just entering on close. Although its probably a good idea to keep track of what the outcome would have been had you waited to enter on break. In other words, track how many losses would have been no-trades, and how much more you get on the wins by getting in at a slightly better price. Something tells me it would be a wash if you were picky on the setups to begin with. But good point, and something worth tracking on your own trade spreadsheet.
  • #813
  • Jul 31, 2009 9:25am Jul 31, 2009 9:25am
CT pinbar with divergence, good for some profit.

I entered earlier off resistance @ 1.4150, SL 10, SL to BE at +10, TP 20, closed for +16.
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  • #814
  • Aug 2, 2009 9:32pm Aug 2, 2009 9:32pm
Quoting Jlr
Trading with FXCM, you can literally plop in an order almost instantly. Going to be switching to IB, hopefully they allow for such quick maneuvers.
i use oanda, and i found out that you can do one-click trading. will spend some time on that. i don't have experience with FXCM or IB.
  • #815
  • Aug 2, 2009 9:47pm Aug 2, 2009 9:47pm
Quoting vijay s.
Just to show what my analysis would be seeing that chart. Again, not criticizing, just offering my opinion.

So based on my analysis, I would be looking for dips to go long, not short. I give a lot of weight to the "time" factor... if 12hrs show the pair moving up, I would interpret dips down as retracements not a down trend. I would need to see the low/support getting broken and then retested to start thinking about trend change. Trends are very powerful
vijay, i agree. and that's a good setup, i would trade it if i see it. successfully identifying the current trend has always been as challenging and equally subjective to me. and there is always the questions of how aggressive or conservative you want to be. if aggressive, then the sign of the end of downtrend is the beginning of uptrend. if conservative, then you want to wait for the uptrend to be clear and confirms itself. still a lot to practice and figure out what fit best. good trading.
  • #816
  • Aug 2, 2009 9:57pm Aug 2, 2009 9:57pm
Quoting kodziro
Hi.
1.no divergence
2.no down trend
You should first check ADX ( trend strength indicator ) to avoid this situation.
Cheers.
kodziro,
this was a trend trade, so div. was not a rule. it would be a plus if show up.

i remember i was in a class for ADX in an expo. i had multiple indicators on my charts before, and was back and forth between adding/changing and removing indicators.
for this system, i plan to stick with the original long enough to prove it works for me or not. no premature decision this time.
but it doesn't mean i'm against ADX. if it works for you, then it's good for you.
  • #817
  • Aug 3, 2009 10:18am Aug 3, 2009 10:18am
Quoting pmn100
Vijay (and anyone else for that matter), how do you enter your trades? I know Jigsaw enters a couple of seconds before bar close. Does anyone wait for the break of the price action bar to enter, or is that not possible on the 5min due to price moving too quickly?
i enter after the close of the pa also. i'm currently in debate and thinking abt enter on break of pa, but it'll take some meaningful reasons for me to switch. before that, i'm staying with close of pa.
  • #818
  • Aug 3, 2009 10:31am Aug 3, 2009 10:31am
15m lossing trade, ct/div @1.4350/BB. i was struggling to get out with small lose after the opposite pin was formed, but it broke the pin before it and where it closed seem to be neutral to me. so i waited for close of the following bar, if it look even neutral to bullish then i get out, but instead it took my stoploss.

i think i'm building a case in my head here. these ct/div setups with heavily overlapping price action seem to not work more often. compare to ct/div setups which have more clear minor swings. i'll be extra cautious next time. anyone else have similar(or different) experience with these setups?
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  • #819
  • Edited 11:15am Aug 3, 2009 10:49am | Edited 11:15am
Hey, pls check some posts, how the pinbar looks like and where he should be.
you can't trade this.


edit :

I think, you can do everything you want to do.
If you can be good person, you will be.
If you want to be good father, you will be.
If you want to be profitable trader, you will be.

Success is not only money, for me it's my dreams. When the dreams come true, after hard work then I feel successful.

Do it in steps
1) learn about charts, identify good possible setups
2) make your rules. when i did start to trade this method, I've had on my table a scroll of paper and some notices + info what to trade
3) demo, demo or very small account
4)identify your feelings focus on your psychology... WHY fear. WHY greed, why did you take not best setup... etc it's really long buy wonderful way
5) focus and watch your money management... imagine that stupid coin stuff.... 50% win, 50% lose. tail = you win 2 $ , head, you lose 1 $ ...and you will be profitable in the long term.. SAME "STUPID: FUNNY EASY THING IS THIS.
IF YOU WILL TRADE ONLY A+ PIN BARS, AND YOU WILL BE ONLY WITH 50% WINNERS TRADES, YOU CANT BE LOSING TRADER.


Quoting dhh
15m lossing trade, ct/div @1.4350/BB. i was struggling to get out with small lose after the opposite pin was formed, but it broke the pin before it and where it closed seem to be neutral to me. so i waited for close of the following bar, if it look even neutral to bullish then i get out, but instead it took my stoploss.

i think i'm building a case in my head here. these ct/div setups with heavily overlapping price action seem to not work more often. compare to ct/div setups which have more clear minor swings. i'll be extra cautious next time. anyone...
  • #820
  • Aug 3, 2009 11:45am Aug 3, 2009 11:45am
really great M5 gu. ct div pin.
fast +20 in bank
btw: watch m30
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