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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #1,161
  • Sep 21, 2009 7:27am Sep 21, 2009 7:27am
2 Losses for me. See attachments.

I don't care about it too much since my R:R target is 1:2, my next winner will get these 2 losses back.
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  • #1,162
  • Sep 21, 2009 7:34am Sep 21, 2009 7:34am
Quoting artov
2 Losses for me. See attachments.

I don't care about it too much since my R:R target is 1:2, my next winner will get these 2 losses back.
I got the last of those 3 pins

didn't take the previous 2 because.... I was at lunch... ok so a bit of good luck on these guys!!!

cheers all!

Tom
  • #1,163
  • Sep 21, 2009 9:39am Sep 21, 2009 9:39am
exit -4. i should've moved stop to BE sooner when it went down to around 21ema/mid BB.
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  • #1,164
  • Sep 21, 2009 10:53am Sep 21, 2009 10:53am
Curious questions/comments for both...

Quoting artov
2 Losses for me. See attachments.
I don't care about it too much since my R:R target is 1:2, my next winner will get these 2 losses back.
when u traded these, were they really without BB's & RSI's?
i think u cant be certain that u will get your R:R targets on your succeeding trades. your next trade will either miss or surpass your target. it basically depends on the market condition at that time.


Quoting dhh
exit -4. i should've moved stop to BE sooner when it went down to around 21ema/mid BB.
i did not look at my charts today at all.
were u aware of the RSI activity (that is, it failed/didn't want to even touch the 50 level)? this could've alerted u to move stop to BE sooner or exit the trade...
to me, it looks like eur$ have range further or moved up after your trade. [Ok, i'll look at my charts now to see what really happened ]

Thanks Sirs.
  • #1,165
  • Sep 21, 2009 10:59am Sep 21, 2009 10:59am
Yes, I use RSI only for divergence when doing a CT trade, but I prefer a with the trend pin over a CT one. Instead of BB's I use the 21 EMA, it's almost the same as the mid BB.

Whether my target gets hit depends for sure on the market condition. The past has shown it often gets to that target.

Quoting supremeChaos
when u traded these, were they really without BB's & RSI's?
  • #1,166
  • Sep 21, 2009 11:11am Sep 21, 2009 11:11am
Quoting artov
Yes, I use RSI only for divergence when doing a CT trade, but I prefer a with the trend pin over a CT one. Instead of BB's I use the 21 EMA, it's almost the same as the mid BB....
yes, 21ema is almost similar to BB. mid-BB is SMA (simple moving average), while the former is EMA (exponential moving average).

Interesting. so u seem to like your charts more naked than the 'standard Jankone thread' chart.
how do u protect yourself from trades such as those 2 &r take advantage of price moves like those that happened on the right edge of those 2 charts?

btw, did u notice the (bullish) 'div.' between the 3rd $jpy PB & the 21ema (3rd PB has the longest nose of the 3 PB's BUT the 21ema is sloping/slanting higher further/21ema is higher on the 3rd PB than on the previous 2 PB's)? also, in that chart, 92.15-ish seem to have formed as PPZ.
if BB were present on both chart, i think a head-fake presented itself prior the big moves.

btw, if u want to use BB but do not want the mid-BB to get entangled with 21ema (& confuse u) , u can opt to use the Custom indicator version of BB (named "Bands") & set the mid-BB to 'Black' or 'None'
  • #1,167
  • Sep 21, 2009 11:37am Sep 21, 2009 11:37am
Quoting benji533
Agreed.
Thanks.
benji533,
in behalf of all here...
Welcome!
  • #1,168
  • Sep 21, 2009 11:50am Sep 21, 2009 11:50am
Quoting supremeChaos
benji533,
in behalf of all here...
Welcome!
Hey supreme,

Thanks for leading me to this thread ( I saw it before, and took the chart colors from it lol, but not read enough ).
Seems to be a great one.

Here is a trade I have posted on the J16 thread. I think it qualifies Ryan'sJankone's method

Still in.

Ben
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  • #1,169
  • Sep 21, 2009 11:57am Sep 21, 2009 11:57am
benji533,
Sure.... u now have this & the james16 thread to visit & post on.
when there are no A+ setups on H4 & up charts, most likely i'll see u here.

Targets for this 'method' are smaller, but sometimes u can get lucky that a trade progresses into a medium-term to long-term trade.
  • #1,170
  • Sep 21, 2009 12:22pm Sep 21, 2009 12:22pm
Quoting supremeChaos
benji533,
Sure.... u now have this & the james16 thread to visit & post on.
when there are no A+ setups on H4 & up charts, most likely i'll see u here.
.

I guess you are right. I'm glad to find this thread. I'm a guy of action ...another thing to keep me busy now.

By the way, I am bringing with me the PPZs and round numbers from the J16 thread. I can't give them away, no matter what.

Quote
Targets for this 'method' are smaller, but sometimes u can get lucky that a trade progresses into a medium-term to long-term trade.

See my chart bellow
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  • #1,171
  • Sep 21, 2009 12:31pm Sep 21, 2009 12:31pm
Quoting benji533
.
I guess you are right. I'm glad to find this thread. I'm a guy of action ...another thing to keep me busy now.
By the way, I am bringing with me the PPZs and round numbers from the J16 thread. I can't give them away, no matter what....
Yes, the same principles taught on the james16 thread are applicable & even recommended here.
the main difference is we are trading j16 method on smaller/faster timeframes.

BB or Bollinger Bands joins in as a form of dynamic S/R. read my previous posts here (about WTB/Walking the Bands, BB head-fake, etc) & the whole thread to learn more.
Do u have another sponge to suck up all u want&need to learn?
  • #1,172
  • Sep 21, 2009 12:45pm Sep 21, 2009 12:45pm
Hey Jankone|Ryan - are you trading also other PA b bars like outside bars, or only pins?

Thanks,

Ben
  • #1,173
  • Sep 21, 2009 12:51pm Sep 21, 2009 12:51pm
Quoting supremeChaos
Do u have another sponge to suck up all u want&need to learn?
LOL, thanks man. I have just posted a question to Jankone|Ryan

I will check the BB info when I get to it. For now I'm using it ti identify over bought|sold areas (which I think I can do well enough without...so maybe I will stop using them).

Ben
  • #1,174
  • Sep 21, 2009 12:59pm Sep 21, 2009 12:59pm
Quoting supremeChaos
Interesting. so u seem to like your charts more naked than the 'standard Jankone thread' chart.
That's right, too many lines seems to cause me an allergic reaction and scare me away lol.

Quoting supremeChaos
how do u protect yourself from trades such as those 2 &r take advantage of price moves like those that happened on the right edge of those 2 charts?
I don't have any plan to avoid that particular event happening again. I don't like to overanalyze trades, I have my plan and I trade that plan. If it works out, great. If it doesn't work out, I don't change the plan, but just move on to the next trade and accept the fact that there will be losers too.

Quoting supremeChaos
btw, did u notice the (bullish) 'div.' between the 3rd $jpy PB & the 21ema (3rd PB has the longest nose of the 3 PB's BUT the 21ema is sloping/slanting higher further/21ema is higher on the 3rd PB than on the previous 2 PB's)? also, in that chart, 92.15-ish seem to have formed as PPZ.
Yes I did notice the PPZ on the USD/JPY, the same happened on the EUR/USD. I have never looked for div between the EMA/BB and the actual price because I want to keep things as simple as possible, but is that something you look for regularly?

Quoting supremeChaos
if BB were present on both chart, i think a head-fake presented itself prior the big moves.
In my opinion there is no "better indi" when comparing the BB and the 21 EMA. See attachments, in some situations the EMA gets you in a trade and the BB doesn't. Vice versa the same. When I say "gets you in the trade", I mean that price touches the line and closes above/under it. So having both on your chart would be the most beneficial if it doesn't give you an allergic reaction
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  • #1,175
  • Sep 21, 2009 2:39pm Sep 21, 2009 2:39pm
I find that this indicator causes any drawings (trendlines, Fibs etc) to disappear when changing timeframes. Is anyone aware of a fix, or is there a better custom indicator/expert I could be using?

Thanks.
mark
  • #1,176
  • Sep 21, 2009 3:45pm Sep 21, 2009 3:45pm
Quoting supremeChaos

i did not look at my charts today at all.
were u aware of the RSI activity (that is, it failed/didn't want to even touch the 50 level)? this could've alerted u to move stop to BE sooner or exit the trade...
to me, it looks like eur$ have range further or moved up after your trade. [Ok, i'll look at my charts now to see what really happened ]

Thanks Sirs.
it went up a little more, then dropped like a stone. if i left my original stop in place, it would be a big winner. but that's irrelevant. what's important is that i followed discipline to get out when it went against. only that i didn't do it sooner. so this is a 'good losing trade'(quote something i just read today).

abt the rsi, i did start observing rsi behaviors besides using it for div. entries. if i get you right, you say when price hit 21ema/mid BB and rsi doesn't hit 50 then it's a sign of weakness?
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  • #1,177
  • Sep 21, 2009 5:25pm Sep 21, 2009 5:25pm
Since I entered I decided I was gonna let this one run (i do this once in a while), after that big bullish bar I moved to BE and forgot about it. If it had retraced 2 pips less, I would have kept in, and the trade could have yelded a good 3:1RR, broke even, no biggie!
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  • #1,178
  • Sep 22, 2009 12:15am Sep 22, 2009 12:15am
Aloha
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A lawn mower is not an effective tool to pick-up dog poop!
  • #1,179
  • Edited 1:25am Sep 22, 2009 1:06am | Edited 1:25am
Quoting Jazflyer
Aloha
Aloha...
what MA's are those two?
u like cleaner/more naked charts (no BB) too?
Thanks!
  • #1,180
  • Sep 22, 2009 1:17am Sep 22, 2009 1:17am
Quoting supremeChaos
Aloha...
what MA's are those two?
u like cleaner/more naked charts (no BB) too?

Hey SC

the (blue) 21 EMA and (red) 50 SMA as per Jig's post here http://www.forexfactory.com/showpost...postcount=1089
and next.
A lawn mower is not an effective tool to pick-up dog poop!
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