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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #861
  • Aug 12, 2009 1:23pm Aug 12, 2009 1:23pm
Quoting Ryanmcd
70% of the time the market is sideways and that is when I make my money doing CT trades, If you BB are flat you can just trade the extremes doing CT trades and once you get stopped out a trend just started again Most people blow up in a sideways market, I just trade the bands and wait for the range to get killed and I did the same thing back in my S&P days too, in fact I only did CT trades back then.
very wise, last week I had 11 losses in a row trying to catch the trend from 21 on 5 min. When the week passed, I realized how stupid I was, I should have traded the boarders, but the lesson is learned.
  • #862
  • Aug 12, 2009 2:33pm Aug 12, 2009 2:33pm
Hello Jankone!

I have been watching this threat for quite a while now and trying to get into it. Looks like you are hitting very nice profits with this method. I am not very disciplined I have to admit but working on it
I am not sure if you have mentioned it before but are you trading for living?

All the best!

Pozdravujem zo Slovenska
  • #863
  • Aug 12, 2009 3:05pm Aug 12, 2009 3:05pm
Quoting Ryanmcd
Yes, look at this chart and look if you got into a CT on everytime it hit the BB with divergence or a PB. It just takes time to see the trades, also I will kill a trade in under 30 seconds if something goes wrong, I do not do this much but if the bar moves fast against me I will.
i see, even though the trend is sideways, you still get CT and divergence using the minor swings or lows/highs. thanks.

this is what i see on the chart. if i was trading this realtime, i should get 6 wins vs. 3 losses/be's, some of the pins seem not tradeable if you use the sideways top/bottom. the results different for different traders. i will begin observing these while watching...
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  • #864
  • Aug 12, 2009 3:21pm Aug 12, 2009 3:21pm
Quoting supremeChaos
yes... i think u have not taught this to Jankone & the rest yet.


an example chart would be my chart post Ryanmcd quoted. u can also check your own charts via previous days ranging periods & see if u find flat BB's.
supreme, as i remember ryan had more setups when he was posting abt this method in the J16 thread, should still be buried there. i can't speak for jankone, but i think he picked the two setups in this thread b/c they are simple. and i can speak from my personal experience, it's beneficial to start w/ a few simple and easy to see setups, then add more as you add experience and confidence.

yes, i remember your ranging chart. it was only days back, i can still picture the shape in my head.
  • #865
  • Aug 12, 2009 3:42pm Aug 12, 2009 3:42pm
Quoting ira
very wise, last week I had 11 losses in a row trying to catch the trend from 21 on 5 min. When the week passed, I realized how stupid I was, I should have traded the boarders, but the lesson is learned.
ira, are you sure rule out trend trades so fast? because i remember vijay takes only trend trades and he has high win ratio. i don't know how long have you trading this method, maybe you need more time? i made premature mistakes before.

this is not an offense or humiliation, can you post some of your charts from last week? because catching a trend from 21ema sounds good and it's one of the two setups here, i'm really curious to see them, these lossing trades can really teach lesson IMO. thanks.
  • #866
  • Aug 12, 2009 3:43pm Aug 12, 2009 3:43pm
Quote
i think u have not taught this to Jankone & the rest yet.
dhh,
yes, it's possible he has other setups posted in the james16 thread.
Apologies, i was just joking (on that sentence i quoted above)

Quote
yes, i remember your ranging chart. it was only days back, i can still picture the shape in my head
wow, u must be a "visual-spatial" person.

btw, here's a trade i took earlier, post-US FOMC. (short gbp$, M1 chart; 1st posted here)
again the BB setting is different (11,2) but the approach is the same.
i entered my short after the small PB (Aqua check mark) off of the mid-BB (pink dotted line)
if u put in a RSI6, u will notice a hidden bear.div from a lower swing high (the bullish bar, 6 bars prior the PB) to the PB's high (another lower swing high).
if u recall hidden divergence denotes trend continuation. in this case the current trend was down.
also, u will notice the 3 swing lows formed corresponding higher lows on the RSI6, indicating the trend is weakening & the potential trend end anytime soon. (1st was the bear. bar prior the bull.bar i mentioned above; the 2nd lower swing low is the bear.bar, 3 bars prior the PB; the 3rd lowest swing low is the huge & final bear. bar that breached my TP which was the aqua/pink horizontal line on the chart). True enough, on the last swing low, the downtrend ended, went on to range a little, before moving up.

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  • #867
  • Aug 12, 2009 6:52pm Aug 12, 2009 6:52pm
Here is the one for me from today.

Entry logic: up trend, pull back to the middle of the BB right into previous support (indicated by shaded yellow). I'm trying to refine my entries a bit, by basically making sure there is some previous support + PA.

Management: went to BE at 1R, and took profit right at 2R.

These with the trend entries are very, very high probability, but they are not nearly as common place as the counter trend setups which occur more often. Still, I will be very happy if I can get 4 of these a week, win 3 and lose 1. Very profitable as long as you employ your MM.

When there is no trend, I.E. flat BB, I am experimenting with taking setups off the BB extremes, which are the ends of the range.
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  • #868
  • Aug 12, 2009 8:45pm Aug 12, 2009 8:45pm
Quoting ira
very wise, last week I had 11 losses in a row trying to catch the trend from 21 on 5 min. When the week passed, I realized how stupid I was, I should have traded the boarders, but the lesson is learned.
Hi ira, I was trying to do the same and got burned many times (if u happened to see my posts, u would know). I think the setups taught in this thread are good and simple, but they only work if applied at the right location. Now I'm working on the 'location' part, i.e. in what context to take/not to take the setups. If u don't mind, u can share some of ur posts. I think failed setups can help us learn more
  • #869
  • Aug 12, 2009 8:55pm Aug 12, 2009 8:55pm
hey
I'm new at all this stuff. I'm trying to learn price action/the e mini.
what does BB stand for .
if anyone can offer me some good reads i would appriate it.
i am reading al brooks book, reading price action bar by bar, the editing is horrible, but the book may take me to another level, if i can figure out what he is saying.
thanks
  • #870
  • Aug 12, 2009 11:33pm Aug 12, 2009 11:33pm
Warren,
yes, if u include "location" in your trading arsenal, u become pickier & u get better setups.
location can be anything from S/R's , PPZ's, confluence areas, round numbers, etc. These are all taught & learned via the james16 thread.


tryingtotrad,
BB = Bollinger Bands
Have u read this thread from the start?
Have u read all of james16 thread?
Your answer to both should either be "yes" & "most of it", but ideally the former ("yes"). Both are good reads.

if u want a book, there's "Bollinger on Bollinger Bands" by John Bollinger, the BB creator himself. i know he has websites too (search for them).
u can also check out "Pring on Price patterns" by Martin Pring. if u are starting out, read this first then the BB book above.

if u want something free for now, then read james16 thread THEN this thread next.
u must understand the basics first & james16 method is the basics (Price Action or PA setups, Support/resistance or S/R, etc). BB's are ''a bit'' advanced (BB's are dynamic S/R's) so u should learn about that after the j16 method.
  • #871
  • Aug 12, 2009 11:40pm Aug 12, 2009 11:40pm
btw, when the BB's are flat (price is in a range), sooner or later expect a breakout (applies to all timeframes).... This is what John Bollinger means with "low volatility begets high volatility" (the opposite is true too: "high volatility begets low volatility")
specially so when the BB's are so flat that there's only a +/-5 to 10pip range (pip range varies per timeframe; usually, the tighter the range, the better/more explosive the breakout).
BB being flat before a breakout is called a "squeeze" (some call it a "pinch").

just FYI....
  • #872
  • Aug 13, 2009 6:19am Aug 13, 2009 6:19am
Quoting dhh
ira, are you sure rule out trend trades so fast? because i remember vijay takes only trend trades and he has high win ratio. i don't know how long have you trading this method, maybe you need more time? i made premature mistakes before.

this is not an offense or humiliation, can you post some of your charts from last week? because catching a trend from 21ema sounds good and it's one of the two setups here, i'm really curious to see them, these lossing trades can really teach lesson IMO. thanks.
First of all don't get me wrong, I am not criticizing anything. Actually, I belive this is one of the best methods, very simple and yet very effective.
I admire the way Jankone trades it, only perfect setups. I am not that disciplined yet .
Yes, pins from 21 are VERY EFFECTIVE in an established trend. Today I took one on 15 min. E/U (see the first chart).
But, last week I was trying to get the beginning of the trend, that's where I was trapped. Sometimes on the NFP week we have good runs on Monday or Tuesday, that was my idea to get into the beginning of the trend. But I didn't see the obvious - there was range. I completely forgot that I can trade from the range boarders, well it happens sometimes after holidays))). Here two examples of what I was talking about.
I started to trade this method only last week, but I think with practise I will do great. I like the idea to trade pins in a range from BB, and they will be my only CT's. As for trend, the location is very important.
I would love if Ryan cont. posting how he trades.
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  • #873
  • Aug 13, 2009 9:45am Aug 13, 2009 9:45am
i missed it. at the time, strong divergence also on 15m and 30m
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  • #874
  • Aug 13, 2009 9:58am Aug 13, 2009 9:58am
Quoting dhh
i missed it. at the time, strong divergence also on 15m and 30m
Solid setup right there! I was eyeing it too but didn't pull the trigger because I didnt feel the DIV was strong enough....oh well woulda made some nice pips
  • #875
  • Aug 13, 2009 10:04am Aug 13, 2009 10:04am
Quoting supremeChaos
dhh,
yes, it's possible he has other setups posted in the james16 thread.
Apologies, i was just joking (on that sentence i quoted above)

wow, u must be a "visual-spatial" person.

btw, here's a trade i took earlier, post-US FOMC. (short gbp$, M1 chart; 1st posted here)
again the BB setting is different (11,2) but the approach is the same.
i entered my short after the small PB (Aqua check mark) off of the mid-BB (pink dotted line)
if...
i see abt the joke now

i have to say you are brave to trade the 1m chart(even on demo?). and you got out at almost the lowest point, good one, i'm guessing you were using the lower BB for exit?

two things:
1. i remember when i studied divergences(varietys of it). i use divergence now in a simple way: if i can connect highs/lows on price and oscillator, and the lines diverge in their directions, it's usable divergence to me(regardless what kind)

2. i also started noticing rsi's relative lows/highs, also the 50 line. they seem to tell something if you listen
  • #876
  • Aug 13, 2009 10:28am Aug 13, 2009 10:28am
Quoting vijay s.
Here is the one for me from today.

Entry logic: up trend, pull back to the middle of the BB right into previous support (indicated by shaded yellow). I'm trying to refine my entries a bit, by basically making sure there is some previous support + PA.

Management: went to BE at 1R, and took profit right at 2R.

These with the trend entries are very, very high probability, but they are not nearly as common place as the counter trend setups which occur more often. Still, I will be very happy if I can get 4 of these a week, win 3 and lose 1. Very...
nice trade. i see you are using fix profit target(2R), nothing wrong with it. by eyeballing your chart, upper BB is abt 4R or 5R away from your entry. wondering if you tried using technicals (sup/res, BB extremes, etc.) for profit targets before. what made you choose fix TP over using the technicals? maximize profit is something i always try to improve.
  • #877
  • Aug 13, 2009 10:34am Aug 13, 2009 10:34am
Here is a setup I'm looking at trying to start playing. It just formed.

No trend as the BB is FLAT. Pin bar off an extreme. Basically this is the same as picking a bottom/top of a range. When the ranging is confirmed, it should be easy pips right?

Might be too early to enter here as no confirmation of range.
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  • #878
  • Aug 13, 2009 10:36am Aug 13, 2009 10:36am
Quoting tryingtotrad
hey
I'm new at all this stuff. I'm trying to learn price action/the e mini.
what does BB stand for .
if anyone can offer me some good reads i would appriate it.
i am reading al brooks book, reading price action bar by bar, the editing is horrible, but the book may take me to another level, if i can figure out what he is saying.
thanks
i see supreme recommended some books, books are good and i have my fair share with them. i suggest you also look into some videos, they give you the visual impact, and they make the charts come to live for you faster(especially when you are new).
have fun.
  • #879
  • Aug 13, 2009 10:40am Aug 13, 2009 10:40am
Quoting dhh
nice trade. i see you are using fix profit target(2R), nothing wrong with it. by eyeballing your chart, upper BB is abt 4R or 5R away from your entry. wondering if you tried using technicals (sup/res, BB extremes, etc.) for profit targets before. what made you choose fix TP over using the technicals? maximize profit is something i always try to improve.
I usually just eyeball the S/R and see if its far enough away to get me to 1R. Right now I'm using fixed profit targets, but I need to experiment with using technicals because they definitely work. I wouldn't say my exits are optimal by any means-- I'm just using something simple which will give me profits assuming a decent hit rate, and will look to optimize as I have more data of my trades/setups.
  • #880
  • Aug 13, 2009 10:49am Aug 13, 2009 10:49am
Quoting ira
First of all don't get me wrong, I am not criticizing anything. Actually, I belive this is one of the best methods, very simple and yet very effective.
I admire the way Jankone trades it, only perfect setups. I am not that disciplined yet .
Yes, pins from 21 are VERY EFFECTIVE in an established trend. Today I took one on 15 min. E/U (see the first chart).
But, last week I was trying to get the beginning of the trend, that's where I was trapped. Sometimes on the NFP week we have good runs on Monday or Tuesday, that was my idea to get into the...
no worry, i didn't get any impression you were criticizing anything.

trying to get in at the beginning of the trend was one of my mistakes too. this is only your second week, too early to say what works for you or not. and you seem to have a plan now, just follow it and use discipline, i think you have a good starting point.

the 15m trades looks good and gave you some pips.
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