Jankone M5 thread | Page 54 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

James16+Rayanmcd(Jan kone) and ME 7 replies

Attachments: Jankone M5 thread
Exit Attachments

Jankone M5 thread

  • #1,061
  • Sep 10, 2009 8:08am Sep 10, 2009 8:08am
Quoting kk007
Thanks all the replies. Although I am not trading this method, but still want to learn how to trade it. Hope it is not a bad thing to post some unsuccessful cases here, for education purpose. Glad to see some of you did enter the trade but got out with no loss.
kk007,

I think its just as valuble (if not more!) to post loosing trades. Any one of us could go over yesterdays charts and the winners would immediately jump out - often the loosers don't and if we can all start to identify them more accurately at trade time then we can all benefit!

Tom
  • #1,062
  • Sep 10, 2009 8:09am Sep 10, 2009 8:09am
take a look at these two charts. i'm afraid not much more i can say in words, but look at them in terms of price(how far did it go) and time(how long did it take). 1st chart has a better trend than the 2nd by comparision.

one last thing. i can see myself taking the same trade kk007 took if it was a pin(2nd chart) withour too big a hesitation(div could be better too, but tradable). it was not a bad setup at all, it's debateable whether it's B+/A or A+ imo.

it's a good idea new people should stick with A+ setups.

hope this helps.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 5m.gif Size: 27 KB
Click to Enlarge Name: eurjpy.gif Size: 29 KB
  • #1,063
  • Sep 10, 2009 8:21am Sep 10, 2009 8:21am
Hi dhh,

Chart 1 is a strong trend than Chart 2. I think for countertrend trade, the strong is the trend, the riskier is the trade. So, if trading countertrend, trade the one in Chart 2 is less riskier than trade the one in Chart 1.

Am I wrong?

kk007

Quoting dhh
take a look at these two charts. i'm afraid not much more i can say in words, but look at them in terms of price(how far did it go) and time(how long did it take). 1st chart has a better trend than the 2nd by comparision.

one last thing. i can see myself taking the same trade kk007 took if it was a pin(2nd chart) withour too big a hesitation(div could be better too, but tradable). it was not a bad setup at all, it's debateable whether it's B+/A or A+ imo.

it's a good idea new people should stick with A+ setups.

hope this helps.
  • #1,064
  • Sep 10, 2009 8:49am Sep 10, 2009 8:49am
Folks,

Heres one from a few minutes ago (EURJPY)

I moved the SL to BE when price reached the previous bar lows as retracement is likely at this point - and it did.

fair enough.

Tom
Attached Image
  • #1,065
  • Sep 10, 2009 9:46am Sep 10, 2009 9:46am
Tesla's Trendline indicator....
(also for rectangles, fib retracements & fib expansions, Bollinger band, Andrew's Pitchfork)

please see my post here.
FYI.
  • #1,066
  • Sep 10, 2009 9:52am Sep 10, 2009 9:52am
entered on mid-band pullback but more importantly, 1.4550 support. not really divergence...got out with 1.3R at the downward trendline.

I'm still a newbie at this so take it for what it's worth.

I will say a big thank you to Ryan, Jankone, and Jig for their posts. I have about 50 posts left and I'll be caught up with this thread. Great stuff guys. A great complement to the w/d/4hr/1hr stuff I trade with J16 methods...

PS - guess I got out a little early... ah well.. next...

Josh
Attached Image (click to enlarge)
Click to Enlarge Name: 091009_10.35l.GIF Size: 74 KB
  • #1,067
  • Sep 10, 2009 10:00am Sep 10, 2009 10:00am
Quoting Jduester
entered on mid-band pullback but more importantly, 1.4550 support. not really divergence...got out with 1.3R at the downward trendline.

I'm still a newbie at this so take it for what it's worth.

I will say a big thank you to Ryan, Jankone, and Jig for their posts. I have about 50 posts left and I'll be caught up with this thread. Great stuff guys. A great complement to the w/d/4hr/1hr stuff I trade with J16 methods...

PS - guess I got out a little early... ah well.. next...

Josh
Good trade Josh

Somehow I missed it... been infront of my PC the whole time as well - oh well...

I agree with it complementing the J16 stuff. I really want to get the basic method down to pat and maybe look at using PPZ etc to better define exits etc at somepoint but baby steps first and all that...

Tom
  • #1,068
  • Sep 10, 2009 10:29am Sep 10, 2009 10:29am
Quoting Jduester
entered on mid-band pullback but more importantly.
PS - guess I got out a little early... ah well.. next...
Nice trade, Josh.
basically, u could have re-entered (or added a position) on an almost similar setup:
PB (6th candle from the last candle on your chart) with nose poking outside the mid-BB (minor PPZ on 1.4555-ish area) + RSI above 50 (looks to me, it went above 50 again right after the PB formed; notice also the RSI 'double bottom' with your traded PB)
in behalf of all here, welcome too
  • #1,069
  • Edited 11:42am Sep 10, 2009 11:04am | Edited 11:42am
Quoting supremeChaos
Nice trade, Josh.
basically, u could have re-entered (or added a position) on an almost similar setup:
PB (6th candle from the last candle on your chart) with nose poking outside the mid-BB (minor PPZ on 1.4555-ish area) + RSI above 50 (looks to me, it went above 50 again right after the PB formed; notice also the RSI 'double bottom' with your traded PB)
in behalf of all here, welcome too
Thanks SC. I don't know if it's just beginners luck or if all the time spent on daily/weekly PA and going over and over the J16 material, learning patience, etc is finally paying off... but I reentered on this bar and took out another 1.5%... 4/4 today for 4.85% gain (with 1% risk/trade)... all demo of course... still nearly 3 full months of demo before I take this stuff live.

Working out exit strategies now... I really like the idea of being able to add on to trades when we get a run.

EDIT: I should note it was a BUOB, not a pinbar on that last trade...

Josh
Attached Image (click to enlarge)
Click to Enlarge Name: 091009_12.40l.GIF Size: 68 KB
  • #1,070
  • Sep 10, 2009 11:12am Sep 10, 2009 11:12am
Quoting kk007
Hi dhh,

Chart 1 is a strong trend than Chart 2. I think for countertrend trade, the strong is the trend, the riskier is the trade. So, if trading countertrend, trade the one in Chart 2 is less riskier than trade the one in Chart 1.

Am I wrong?

kk007
kk007, let me begin by saying no you're not wrong(it's not about right or wrong). but this is something i feel i can scratch my head for the next 10 years and i still won't be able to articulate to people what goes on in my head.

remember joelchf's post(on J16 thread) about div and he used the example of kicking a ball towards the window. think of it like if you kick the ball from a longer distance = stronger trend: if the window doesn't break and the ball bounce back, then the harder you kicked = the harder the ball bounce back. it's ACTION, and REACTION relationship.

imo either trend or counter trend, the quality of the setups base on the quality of the trend.

i know this likely to be confusing. please, if other people can throw in their thoughts on this...
  • #1,071
  • Sep 10, 2009 5:44pm Sep 10, 2009 5:44pm
Good to see you in here Josh, you're posts in the J16 thread have been very valuable and encouraging (to me at least)

The good thing about being in J16 before in here is that you learn to have patience. When I was solely on the 4h and daily charts there were weeks with almost no trades. That taught me some serious patience.

Nice trades so far. My aim in a trade is at least an R:R of 1:2, but if it doesn't seem to work, I am willing to close it for less or BE.

Quoting Jduester
Thanks SC....
  • #1,072
  • Sep 10, 2009 9:05pm Sep 10, 2009 9:05pm
Quoting Jduester
Thanks SC. I don't know if it's just beginners luck or if all the time spent on daily/weekly PA and going over and over the J16 material, learning patience, etc is finally paying off.....
i believe, 100%, it's the latter.

btw, your BUOB trade, which to me is a PB/BUOB hybrid, was again similar to the setup i mentioned above. the only differences are the BUOB was small in size, it did not touch/poke through the mid-Bolli (which could've been a stronger setup-- a 'longer nose'), & it had a clear bull.hidden divergence which is a continuation signal. (also, when price keeps bouncing on the mid-BB, it shows the underlying trend, uptrend in this case, is pretty strong; u can check/verify this with a higher timeframe, M15/M30 in this case --see also my previous posts here about 'walking the bands'/WTB)

This is J16 trading on a smaller timeframe.... Keep it up Sir
  • #1,073
  • Sep 11, 2009 2:00am Sep 11, 2009 2:00am
Gotta be fast! I was trying to get my order set up when this thing broke hard...

with trend
pullback to cl of bb and 21EMA
proxy pin
Divergence

missed out on a quick 2R...but we'll get some more

Josh
Attached Image (click to enlarge)
Click to Enlarge Name: 091109_3.55s.GIF Size: 71 KB
  • #1,074
  • Sep 11, 2009 3:03am Sep 11, 2009 3:03am
initially posted here. (so understand this is not an exclusive BB/bollinger band + RSI trade)

i am posting the M15 chart here.
NOTE: i'm using Bolli11
(again, focus on the BB usage, not on the BB settings)

on the left hand side, u can see 'head fake'. Head fake happens often with bollinger bands, usually after a range & prior a trend. in this case the trend (during the head fake) is up. i indicated the head fake with a lime green "Z-like" zigzag.
During this uptrend, u can see WTB (walking the bands: a trend continuation signal; see my previous posts about WTB) which comprised bullish bars that were confirmed by high values in RSI6 (A & B in RSI). note the bullish bars have long upper wicks (means sellers were coming in at those times)

in comparison, the second WTB (yellow WTB) was accompanied by RSI bear.div. (see C & D on RSI) bullish bars but the upmove was loosing momentum as evidenced by the bullish bars not making convincing higher highs & closing near the middle (compare this to the WTB bull.bars which have bigger candle bodies/range)

my short trade about an hour ago (entry after A & exit in B, see the right hand side of price chart), u could say, started & ended with a PB (see the PB before A, & see the PB at B).
Attached Image (click to enlarge)
Click to Enlarge Name: eu m15 jankone 4pm sept11'09.gif Size: 28 KB
  • #1,075
  • Sep 11, 2009 3:07am Sep 11, 2009 3:07am
Quoting Jduester
Gotta be fast!...
wow...
coincidentally, i mentioned this on another thread (see letter 'G' here: "G: narrow range bar on high churn volume; upthrust or PB (potential short for 10 pips....")
  • #1,076
  • Sep 11, 2009 4:35am Sep 11, 2009 4:35am
You need more indicators.



http://www.forexfactory.com/attachme...4&d=1252663389
  • #1,077
  • Sep 11, 2009 4:44am Sep 11, 2009 4:44am
Quoting supremeChaos
initially posted here. (so understand this is not an exclusive BB/bollinger band + RSI trade)

i am posting the M15 chart here.
NOTE: i'm using Bolli11
(again, focus on the BB usage, not on the BB settings)

on the left hand side, u can see 'head fake'. Head fake happens often with bollinger bands, usually after a range & prior a trend. in this case the trend (during the head fake) is up. i indicated the head fake with a lime green "Z-like" zigzag.
During...
I have looked at that chart for literally 7minutes now, and yet I have no idea what is going on except the candlesticks look to be in a disco.

  • #1,078
  • Sep 11, 2009 4:50am Sep 11, 2009 4:50am
Quoting Jduester
Gotta be fast! I was trying to get my order set up when this thing broke hard...

with trend
pullback to cl of bb and 21EMA
proxy pin
Divergence

missed out on a quick 2R...but we'll get some more

Josh
Hey Josh bro,

Are you entering on the break or the close ?

Whats your initial thoughts on exit strategy's ?

Also be careful about expectations here with this strategy, this week has been like shooting fish in a barrel and the conditions have been really good.

Jig.

EDIT - That happens a lot, thats why I am a enter on exactly 2seconds before the close man, in my experience I have been slipped to death with pending orders and the decrease in winning % is more favourable in the long term vs. getting filled at awful prices.
  • #1,079
  • Sep 11, 2009 5:02am Sep 11, 2009 5:02am
Quoting Jankone
You need more indicators.
lol
believe it or not, i removed the others. lol

Quoting Jigsaw
I have looked at that chart for literally 7minutes now, and yet I have no idea what is going on except the candlesticks look to be in a disco.
rainbow colors?
i'm attempting to teach trading, not disco dancing
i used colors to make emphasis


it's Friday, so i forgive u guys for your harsh comments
  • #1,080
  • Sep 11, 2009 5:06am Sep 11, 2009 5:06am
Quoting supremeChaos
lol
believe it or not, i removed the others. lol


rainbow colors
i'm attempting to teach trading, not disco dancing
i used colors to make emphasis


it's Friday, so i forgive u guys for your harsh comments
Lol you know we are only joking with you Supreme

I never understood the Murray Math thing, I don't understand why it would work. Any useful links so i can go educate myself ?


Great week this week for the 5min, I only wish all weeks were as easy as this
2 traders viewing now