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Jankone M5 thread

  • #1,101
  • Sep 14, 2009 12:33am Sep 14, 2009 12:33am
Hey Jigsaw,

This is my first post. Been lurking for months now.
I just read your very interesting post about your formula for SL and TP.
I'm confused that you are now going for 5R.
How would it be possible if your SL is 2xATR(14) and TP is 4xATR(14)?
If my maths don't fail me, it would be only 2R and not 5R.
Am i missing something?

Regards


Quoting Jigsaw
Hey Josh bro,

I see about the buffer, I used to do it that way but the only problem was 1) was getting slipped awful bad and 2) sometimes it is just too tight, especially with the trend. Also I was having a hard time calculating %Risk in time to be honest lol.

Don't get me wrong you can avoid a lot of fakeouts with the buffer, but a part of me just does not think that the buffer actually makes much of a difference. Like if you take Daily PA a load of people will either have or have not got any orders on the otherside of a pinbar. But I digress,...
  • #1,102
  • Sep 14, 2009 4:54am Sep 14, 2009 4:54am
Quoting Jigsaw
Hey Josh bro,

I see about the buffer, I used to do it that way but the only problem was 1) was getting slipped awful bad and 2) sometimes it is just too tight, especially with the trend. Also I was having a hard time calculating %Risk in time to be honest lol.

Don't get me wrong you can avoid a lot of fakeouts with the buffer, but a part of me just does not think that the buffer actually makes much of a difference. Like if you take Daily PA a load of people will either have or have not got any orders on the otherside of a pinbar. But I digress,...
Thanks for the insight Jig. Good stuff. I'll look into 2ATR+spread...

Josh
  • #1,103
  • Sep 14, 2009 5:21am Sep 14, 2009 5:21am
Quoting lacika
Now, those are"posts"!
Your trendline(ledge line) cut the price action bar many times, but I assume You enter on the close or the brake of the PA bar?
THX, NL
I always enter on the close because I hate getting re-quoted, waiting for the pullback and ledge is more of a "I'll get my stop up nice and high so price cannot hit it" technique rather than a technical analysis technique. Although you are entering on a pullback as well which is good.

Again just what I have found, you could do it otherwise. If you enter on the break then you filter out a lot of bad trades.

Quoting supremeChaos
Hey Thom,
i thought i was the only 1 doing the disco theme?
Seriously, i like the black-dodger blue(?)-red combo.
Thanks for the illustrative posts.

Happy weekend ALL
(Sunday 9.18am, Philippines)
Nothing wrong with some nice looking charts eh ? !

I must admit I think my newest intraday system only 2 months old) are the prettiest looking charts I have.

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Although the dodger blue / red candlesticks look good also

(Yes I have too much time on my hands but hey thats trading)
Quoting ikki
Great Posts Jig! good information. I save this in my favourites... ,

BTW: About the pic in my profile, I'm the guy in the t-shirt lo
You look very calm and collected in that pic, the sort of guy who could go long EURUSD for $1000dollar a pip and be ice cold.



Quoting nicole99
Hey Jigsaw,

This is my first post. Been lurking for months now.
I just read your very interesting post about your formula for SL and TP.
I'm confused that you are now going for 5R.
How would it be possible if your SL is 2xATR(14) and TP is 4xATR(14)?
If my maths don't fail me, it would be only 2R and not 5R.
Am i missing something?

Regards
Hi there Nicole, and welcome to the thread ! I think I must have made it a bit unclear maybe ? . I'll quote any parts that had ATR in it and try to explain.

Quote
Stop losses - 2xATR14+spread
Take Profit - 4xATR14+spread
Move stops to breakeven at 2xATR14+spread.

Just as an example, that would work perfectly well and I have used it myself with success before. Now I am more of a 1:5RR man.
Up here I said that you can use the ATR calculation, but I personally use just mostly a fixed stop and 5R nowadays (Just me though)

Quote
I am looking now for usually 4R / 5R. However, this is a personal thing for me. I love many small loosers and then hitting the ball out of the park when the opportunity arises.
But again personal thing, if you want to do it different by all means do.. . . I reckon everybody should be looking at 1:2 though . . . . 2xATR14 + spread for a SL and 4xATR + Spread for a take profit like my trend vs. countertrend example is a good idea. Backtest it, it works.
Again I say my pesonal ratio is 4R 5R, however I then say how I have used the 2xATR14 and 4xATR14 before and it was good.


But you are correct, the 2xATR and 4xATR is only 2R.

Take care,
Jig
  • #1,104
  • Sep 14, 2009 6:46am Sep 14, 2009 6:46am
Quoting Jigsaw
I always enter on the close because I hate getting re-quoted, waiting for the pullback and ledge is more of a "I'll get my stop up nice and high so price cannot hit it" technique rather than a technical analysis technique. Although you are entering on a pullback as well which is good.

Again just what I have found, you could do it otherwise. If you enter on the break then you filter out a lot of bad trades.



Nothing wrong with some nice looking charts eh ? !

I must admit I think my newest intraday system only 2 months old) are...
You must hold some of these for a while... using fixed stops of 20 pips for g/u will mean a 80-100pip move to get to 4-5R... certainly attainable on certain days though... 10 on E/U running 40-50 happens much more often, I'd guess...

no trades today for me yet...but I would have taken that 5min pin (e/u) at 1:00am CT or so... (had to sleep)

Josh
  • #1,105
  • Sep 14, 2009 8:05am Sep 14, 2009 8:05am
Waited for the break...

trailing stop of 1R - good for a quick 25pips

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  • #1,106
  • Sep 14, 2009 1:04pm Sep 14, 2009 1:04pm
jig,
some nice posts and charts. i especially like the 'ledge', sometimes you get a run and price just go flat and 21ema comes down to touch it -- not really a retrace, the ledge would filter out these. always keep eyes open..
maybe you can tell us the results in some months and see how it goes.
good trading..
  • #1,107
  • Sep 14, 2009 2:53pm Sep 14, 2009 2:53pm
Jig, awesome post. I was wondering, do you trail at all? Say your up like 4.5 R, and price turns, are you taking any profits or moving stops at all etc?
  • #1,108
  • Sep 14, 2009 6:10pm Sep 14, 2009 6:10pm
Quoting artov
Here you go, put both files in your experts/indicators map and just drag it on your chart.

Thank you, Artov.
  • #1,109
  • Sep 14, 2009 11:30pm Sep 14, 2009 11:30pm
I use a similar method as the originator of this thread. This is about the best system on FF in it's original form, in my opinion. I learned this very similar method from a professional trader here in Las Vegas. He's made many millions of dollars trading for banks, and retail. The divergence with the pin bar works on currency, stocks, but he trades it mostly with commodities. I trade rsi, cci and look for a pin bar with divergence to the indicators and price and i'll take it in a counter trend , trending, or somewhat flat market. It make no difference and is usually successful 75% of the time. I trade it on 5 min time frame with 7 pairs and 18 pairs on the 1 hour chart. I'm using the rsi custom indicator. That was a good find. I would recommend to anyone reading this thread for the first time to take special note of the first 20 pages in this thread. Very good trading. Paris
  • #1,110
  • Sep 15, 2009 3:16am Sep 15, 2009 3:16am
Quoting Paris Hilton
I use a similar method as the originator of this thread. This is about the best system on FF in it's original form, in my opinion. I...
Hey there,

Welcome to the thread, also good to be graced by "Paris Hilton" - I never knew she traded Forex !

Any charts of some of the trades ? What are the seven 5minute currency's if you don't mind me asking ?

And what trade management are you using ? 75% is a good number.

CCI 14 and RSI 9 you use if I remember correctly ?

Apologies for all the questions

Best Regards,
Jig
  • #1,111
  • Sep 15, 2009 11:53am Sep 15, 2009 11:53am
today's gu m15 fast trade again.not best pin bar but great location and very nice div
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  • #1,112
  • Sep 15, 2009 12:07pm Sep 15, 2009 12:07pm
Quoting Jankone
today's gu m15 fast trade again.not best pin bar but great location and very nice div
Hi Jankone

Would you have taken the pin bar 10 bars before the pin you've pointed out as it too was showing div? If not, what would have kept you out?

Thanks
  • #1,113
  • Sep 15, 2009 1:03pm Sep 15, 2009 1:03pm
it's big pin bar but it's hidden in the "shadow" from other bars..how to explain... my pinbar is smaller but it's total swing low...

"your" pin is in sideways bars... not at extreme low

Quoting pmn100
Hi Jankone

Would you have taken the pin bar 10 bars before the pin you've pointed out as it too was showing div? If not, what would have kept you out?

Thanks
  • #1,114
  • Sep 15, 2009 1:12pm Sep 15, 2009 1:12pm
Quoting Jankone
it's big pin bar but it's hidden in the "shadow" from other bars..how to explain... my pinbar is smaller but it's total swing low...

"your" pin is in sideways bars... not at extreme low
I see, so you want the tail protruding far beneath previous bars?

Thanks Jankone
  • #1,115
  • Sep 15, 2009 2:29pm Sep 15, 2009 2:29pm
Quoting Jigsaw
Hey there,

Welcome to the thread, also good to be graced by "Paris Hilton" - I never knew she traded Forex !

Any charts of some of the trades ? What are the seven 5minute currency's if you don't mind me asking ?

And what trade management are you using ? 75% is a good number.

CCI 14 and RSI 9 you use if I remember correctly ?

Apologies for all the questions

Best Regards,
Jig
Hi,

I only had one opportunity this morning. ( I tade NY session only) It was on EUR/JPY, good pin and divergence. Unfortunately I moved my stop to break even after +40 ticks and it came back to stop me out at break even. This was the one hour time frame. I'll trade about 7 pairs on the 5 min time frame as long as the spread is somewhat small. If you trade pairs with bigger spreads you may not be able to get a good risk to reward ratio. Yes, I use cci14 and rsi 9. However if i get a really good pin i'll just take it off the divergence on rsi and just use cci as more confirmation. Happy trading. Paris
  • #1,116
  • Sep 15, 2009 4:38pm Sep 15, 2009 4:38pm
This material is pure gold.
I know
Welcome here, Paris.

Quoting Paris Hilton
I use a similar method as the originator of this thread. This is about the best system on FF in it's original form, in my opinion. I...
  • #1,117
  • Sep 16, 2009 3:56am Sep 16, 2009 3:56am
Didn't have time to post this one up yesterday as I'm at work

cable short good for ~25pips

Tom
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  • #1,118
  • Sep 16, 2009 4:14am Sep 16, 2009 4:14am
In a few days I will try update #1 some good and best trades, add some info etc. stay tuned !

We make great thread

  • #1,119
  • Sep 16, 2009 9:07am Sep 16, 2009 9:07am
Quoting Jankone
In a few days I will try update #1 some good and best trades, add some info etc. stay tuned !

We make great thread


Signing up to this thread. Hi to all! This technique fits my style PA trading. Talk to you later.
  • #1,120
  • Sep 16, 2009 12:14pm Sep 16, 2009 12:14pm
Nice to see you guys doing well, nothing new to add just stopping by. Let me know if you have any questions and I will try to help.
Keep taking CT trades, I need more money
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