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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #1,181
  • Sep 22, 2009 1:41am Sep 22, 2009 1:41am
Just watched this one go right by me....

nice pin with divergence.....

Not sure why I didn't take it... maybe because I hadn't long woken up and I hadn't had my first coffee of the day by that point?! that'll be it!

Oh well!!

Tom
Attached Image
  • #1,182
  • Sep 22, 2009 3:20am Sep 22, 2009 3:20am
Quoting Jazflyer
Aloha
Hello sir,

Yeah it was good looking and I traded it and took a loss on it.

Not much else to say about it really. The thing is when your trading with the trend like that, it's the only time you are going to be wrong - at the very top before it reverses, if you get me, so I don't mind those losses at all.

Best Regards,
Jig
  • #1,183
  • Sep 22, 2009 3:35am Sep 22, 2009 3:35am
Quoting fat_tom
Just watched this one go right by me....
nice pin with divergence.....
Not sure why I didn't take it... maybe because I hadn't long woken up and I hadn't had my first coffee of the day by that point?! that'll be it!
...
hey Tom,
this one looks similar to one of your last (traded) posts/chart here
  • #1,184
  • Sep 22, 2009 4:39am Sep 22, 2009 4:39am
Quoting supremeChaos
hey Tom,
this one looks similar to one of your last (traded) posts/chart here
SC,

Yes it does.... with one exception... I didn't take it!! oh well.... definetly wasn't in the 'trading frame of mind' at that point this morning... oh well...

On another note I know this thread is dedicated to (for the most part) 5M timeframes - I took 3 Ryan/Jankone trades on larger timeframes, 2 dailys and 1 4HR - trailing all these trades at 1R - already got some profit locked in on a couple of the trades.. lets see how they go (charts below)

Happy Trading All

Tom
Attached Image (click to enlarge)
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  • #1,185
  • Sep 22, 2009 5:38am Sep 22, 2009 5:38am
That was at 4:05 AM UK time, shouldn't you be sleeping then lol!?

I only trade the London session. If there is good volatility during the US afternoon session, then I would consider trading it too. But during the low volatility Asian session I'm sleeping like a princess.

Quoting Jigsaw
Hello sir,

Yeah it was good looking and I traded it and took a loss on it.

Not much else to say about it really. The thing is when your trading with the trend like that, it's the only time you are going to be wrong - at the very top before it reverses, if you get me, so I don't mind those losses at all.

Best Regards,
Jig
  • #1,186
  • Sep 22, 2009 5:47am Sep 22, 2009 5:47am
Quoting artov
That was at 4:05 AM UK time, shouldn't you be sleeping then lol!?

I only trade the London session. If there is good volatility during the US afternoon session, then I would consider trading it too. But during the low volatility Asian session I'm sleeping like a princess.
Could not sleep to be honest so watching the market usually bores me to sleep.

I normally only trade London to US Session though, it's rare that I am awake for Asia session although I do tend to catch bits of it (I am a terrible sleeper)

It depends actually, sometimes there is good action during the Asia session, sometimes you can put in a trade for the day ahead if you get what I mean, that's what I was trying to do there.

JPY pairs have great action too.
  • #1,187
  • Sep 22, 2009 9:21am Sep 22, 2009 9:21am
Hi

really enjoy reading the thread. this method is really helping me improve my day trading.

just a few questions:

do u guys play pin bars that do not close within the prior bar. (i am starting to see that it may not be as important as it is on larger time frames.)

also do u prefer to cancel your order if the pin is not triggered on the next bar or do u just wait until it breaks. For this method i am thinking that i would like a break on the next bar to signal immediate momentum.

cheers
  • #1,188
  • Sep 22, 2009 9:45am Sep 22, 2009 9:45am
Quote
...do u guys play pin bars that do not close within the prior bar. (i am starting to see that it may not be as important as it is on larger time frames.)

also do u prefer to cancel your order if the pin is not triggered on the next bar or do u just wait until it breaks. For this method i am thinking that i would like a break on the next bar to signal immediate momentum......
faizal82,
on question 1: yes... i share your observation, PA formation (PA shape/size) is less stricter here than when trading them in larger TFs. as with trading PA in larger TF, imho location is more important than PA shape/size.

on question 2: yes, cancel. anyway, u can reenter immediately a little later. the main reason for my answer above ('yes') is your second sentence about momentum: shorter TF's are faster so the moves are quicker, momentum (or lack of) included.

just my view...
  • #1,189
  • Sep 22, 2009 9:48am Sep 22, 2009 9:48am
Hi, attached is a trade a took usd/jpy
Closed at 91,25 as that was a resistance area...
Was i just lucky or was it an ok trade?
/kojak
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  • #1,190
  • Sep 22, 2009 9:52am Sep 22, 2009 9:52am
Quoting djarum11
I find that this indicator causes any drawings (trendlines, Fibs etc) to disappear when changing timeframes. ...
same observation here, Mark.
what u can do is have a separate chart for this indicator. or, check out Sir hanover's indicator (he has a thread for this)
  • #1,191
  • Sep 22, 2009 9:53am Sep 22, 2009 9:53am
really enjoy reading the thread. this method is really helping me improve my day trading.

Hi !

just a few questions:

do u guys play pin bars that do not close within the prior bar. (i am starting to see that it may not be as important as it is on larger time frames.)

Yeah this is correct, if I see a pinbar with a really long nose with the trend which say . . . does not close within a few pipettes of the previous bar then I don't mind as much, but I don't want it to be way off.

also do u prefer to cancel your order if the pin is not triggered on the next bar or do u just wait until it breaks. For this method i am thinking that i would like a break on the next bar to signal immediate momentum.

Yeah I recommend this is the safest way, I always enter on the close as a personal thing but the wait for the break on the next bar is probably the safest.

cheers

No problems
  • #1,192
  • Sep 22, 2009 9:54am Sep 22, 2009 9:54am
Quoting kojak
Hi, attached is a trade a took usd/jpy
Closed at 91,25 as that was a resistance area...
Was i just lucky or was it an ok trade?
/kojak
Nice trade here
  • #1,193
  • Sep 22, 2009 9:57am Sep 22, 2009 9:57am
Quoting kojak
Hi, attached is a trade a took usd/jpy
Closed at 91,25 as that was a resistance area...
Was i just lucky or was it an ok trade?
/kojak
Haven't seen the longer term graph but it looks like CT trade with weak/non existant divergence....

lucky? well maybe not - doesn't look like you would have got the traditional 2R however an intelligent S/R/PPZ TP here swayed the odds in your favour.

Whilst it was a sucessful trade I would be very wary about trades approaching 1 R in this timeframe - 1R or less is ok (IMO) on longer timeframes but here we're looking for more as the spread is a way bigger factor....

Back to the original question - was it an ok trade? well you bagged some pips - but in all honesty I wouldn't have taken it - but we're all different and none of us is right all the time!

happy trading

Tom
  • #1,194
  • Sep 22, 2009 9:57am Sep 22, 2009 9:57am
Quoting kojak
Hi, attached is a trade a took usd/jpy
Closed at 91,25 as that was a resistance area...
Was i just lucky or was it an ok trade?
/kojak
seems countertrend; no distinct/significant (bull.) div.; nice PB
if u followed your trade plan then this was ok.
u were lucky if u just hit the buy button at first glance without giving it much thought (unless the method is already ingrained in u).
  • #1,195
  • Sep 22, 2009 10:00am Sep 22, 2009 10:00am
tx for the reply
  • #1,196
  • Sep 22, 2009 10:48am Sep 22, 2009 10:48am
Quoting faizal82
Hi

really enjoy reading the thread. this method is really helping me improve my day trading.

just a few questions:

do u guys play pin bars that do not close within the prior bar. (i am starting to see that it may not be as important as it is on larger time frames.)

also do u prefer to cancel your order if the pin is not triggered on the next bar or do u just wait until it breaks. For this method i am thinking that i would like a break on the next bar to signal immediate momentum.

cheers
i go by the definition of pin so far. however i also take proxy pins.

i personally enter after close of the signal bar so far, it makes more sense to me on the 5min.

just me. everyone needs to find his/her own comfortable ways.
  • #1,197
  • Sep 22, 2009 10:54am Sep 22, 2009 10:54am
Quoting kojak
Hi, attached is a trade a took usd/jpy
Closed at 91,25 as that was a resistance area...
Was i just lucky or was it an ok trade?
/kojak
have you read ryan's recent posts regarding div? he said div that are close together(he prefers less than 10 bars), works better. just search for the original post on the J16 thread, there's charts on there too. makes sense to me.

it's a ct/div trade technically. but i look at it, and it's not convincing enough to me.

hope this helps.
  • #1,198
  • Sep 22, 2009 11:05am Sep 22, 2009 11:05am
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  • #1,199
  • Sep 22, 2009 1:34pm Sep 22, 2009 1:34pm
0 people online a few months ago ussually and now, i came back and i see 8 people online. it's great success for me !
I promised to update #1. some connect issues. I will make it this weekend. happy trading guys.
ps. for impatient people : just click on my profile and search for "m5 or m15 chart"

  • #1,200
  • Sep 22, 2009 2:15pm Sep 22, 2009 2:15pm
i like it. a little bit of Phill Nile 5min, a little bit of J16, a little bit of mbqb11 Mike. i will also post my trades by this method. sorry my bad english
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