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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #1,341
  • Oct 6, 2009 10:22am Oct 6, 2009 10:22am
Quoting supremeChaos
for those not so familiar with BB, here's a short video on Bollinger Bands.
if interested further, i still recommend reading John Bollinger's 'Bollinger on Bollinger Bands' book.
or go to his website/s (search for it)
just FYI
for more on BB, here's one. check out the article shared by Sir david/hanover in the last post.
  • #1,342
  • Oct 6, 2009 10:36am Oct 6, 2009 10:36am
Quoting Jankone
YOU CAN NOT TRADE LIKE THIS ONE.
Soon or later you will burn your account.
please and again please- Learn how the pinbar LOOKS LIKE AND WHERE HE SHOULD BE....
this is your C-- trade. I'm wondering, that you make money....
This is my Aa++ trade...
DO YOU SEE THE DIFFERENCE?
in general, your advice is correct, not to trade 'little funny bars'. more often than not, u need experience to trade these bars.

correct me if im wrong, but these 'funny bars' that u refer to are tradable (fat_tom just traded one). in fact, i think these are the bars that Ryanmcd calls SCPB (small crappy pin bars). i am in the camp that puts more importance to location than PA shape/size (james16 method-wise).

another thing, looking at/judging PA setups is very subjective. an C trade for u, maybe a B or A trade for other people.

This is your thread, but we are still a community here, so u should treat everyone fairly & respectfully. also, your chart is too wide. u normally post failry sized charts (check your post #1).

Keep your feet planted on the ground. Money/profits should not change your personality.
  • #1,343
  • Oct 6, 2009 10:44am Oct 6, 2009 10:44am
Size improved.
I'm not angry or so.. I'm trying to help him.
I think you/ he can't trade like this, if he has no experience and don't know what is he doing. (or .. maybe..he thinks it's really good pinbar)

Ryan's trades are other story. He's TRADER. He can trade almost what he wants to trade and he will make money, because experience, moneymanagement and discipline. and his m5 method it just great.


I want to show how to make money. If you want to make money, you need to learn and search for high % chance trades.

I know people can't copy my trades. I trade a little other way than Ryan too. But people should have PRINCIPLE what and when to trade.
Then they can improve how they wants to trade and so..

Quoting supremeChaos
in general, your advice is correct,
not to trade 'little funny bars'. more often than not, u need experience to trade these bars.

correct me if im wrong, but these 'funny bars' that u refer to are tradable (fat_tom just traded one). in fact, i think these are the bars that Ryanmcd calls SCPB (small crappy pin bars). i am in the camp that puts more importance to location than PA shape/size (james16 method-wise).

another thing, looking at/judging PA setups is very subjective. [u]an C trade for u, maybe a B or A trade...
  • #1,344
  • Oct 6, 2009 10:52am Oct 6, 2009 10:52am
Quoting Jankone
YOU CAN NOT TRADE LIKE THIS ONE.

Soon or later you will burn your account.
please and again please- Learn how the pinbar LOOKS LIKE AND WHERE HE SHOULD BE.
Than search for my comments " m5 or m15 charts"
and learn from AA++ trades.

DO YOU SEE THE DIFFERENCE?
Jankone,

You are right.... I have been nibbling recently and playing around in bars I shouldn't really be getting involved in.. (much like the average Saturday night )

I'm here to learn thanks for putting me back on the right path!!!!

Being honest I stuggle with patience - classic over trading due to small acct size and inexperince...



You input is GREATLY appreciated!

Tom
  • #1,345
  • Oct 6, 2009 10:55am Oct 6, 2009 10:55am
Quoting Jankone
Size improved.
I'm not angry or so.. I'm trying to help him....
Ryan's trades are other story. He's TRADER. He can trade almost what he wants to trade and he will make money, because experience, money management and discipline. and his m5 method it just great.

I want to show how to make money. If you want to make money, you need to learn and search for high % chance trades.
very important.
understood. u have indeed helped some/several people, u should be aware of that.

well, we can copy/emulate what Ryanmcd does, cant we? at least, that is what we are doing here & what your thread is for. everyone can, but of course, not everyone will, unless everyone is willing to learn & take the time & NOT Quit.


no worries, jankone.
  • #1,346
  • Oct 6, 2009 11:01am Oct 6, 2009 11:01am
Another example... big pinbar in downtrend, we go against trend, so divergence is needed.

( new trend has started thanks for this pinbar)
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  • #1,347
  • Oct 6, 2009 11:14am Oct 6, 2009 11:14am
Quoting Jankone
Another example... big pinbar in downtrend, we go against trend, so divergence is needed.
( new trend has started thanks for this pinbar)
do u always trade 1lot/position only?
in the above trade, u could have 1 remaining position open after price hit your +10. as u can see in your chart, after u hit TP, price stayed above the 21 & 50MA, & mid-BB, & even touched the upperBB (& ending with a PB too). nice trade, btw
  • #1,348
  • Oct 6, 2009 11:15am Oct 6, 2009 11:15am
Quoting Jankone
Another example... big pinbar in downtrend, we go against trend, so divergence is needed.

( new trend has started thanks for this pinbar)
Jankone,

I got this one too!!!



On a more serious note I *think* I am trading the winners here but I also trade less viable trades. This is without a doubt where I'm going wrong.

I really NEED to sort this out....

my forex experience is limited (3-4 months) trading live with a very small acct...

Do you or any of the other profitable traders have any advice? - I know what I need to do yet seem to lack the discipline - I don't think I am missing this is other parts of my life (maybe I am though?) I have been reading as many posts as I can about becoming consistantly profitable and most traders seem to find things just 'click' into place at a point in time (2-3 years seems around the norm) even Ryan I belive blew several accts before he made the turnaround...

I guess I need to find the 'click' LOL

Thanks again (and a big thumbs up for starting the thread in the first place!!)

Tom
  • #1,349
  • Oct 6, 2009 11:35am Oct 6, 2009 11:35am
Quoting supremeChaos
"If i see this RSI pop out do i still take this trade"
Answer: imho, if it does pop out, then u have to redraw your div.line, IF there is still div.
OR u have incorrectly plotted a div. line.

alternative view: a div. line should correspond with a PA setup, mainly PB (is discussed here). so if RSI 'pops out' then i surmised it will correspond to a different PA shape (that is, in your chart's case, a bearish bar will form as opposed to an 'expected' bullish bar like a PB). looking again at that chart, a bearish bar did, in fact, form, corresponding...
Okay, how about PA pop out?
  • #1,350
  • Oct 6, 2009 11:49am Oct 6, 2009 11:49am
Kakyn,
i dont understand your question, kindly rephrase it.
  • #1,351
  • Oct 6, 2009 2:58pm Oct 6, 2009 2:58pm
Quoting supremeChaos
Kakyn,
i dont understand your question, kindly rephrase it.
no offence but I think he need to spend some time at J16 or he won't have a good chance at this.
  • #1,352
  • Oct 6, 2009 3:53pm Oct 6, 2009 3:53pm
Quoting supremeChaos
Kakyn,
i dont understand your question, kindly rephrase it.
I mean if price cross the divergence line (price pop between first pin and second pin), the signal is not valid already right?
  • #1,353
  • Oct 6, 2009 3:58pm Oct 6, 2009 3:58pm
Quoting nasir.khan
no offence but I think he need to spend some time at J16 or he won't have a good chance at this.
I'm following J16 as well (I'm currently still at the stage of testing different strategies while learning), but my learning curve there is not that great (it doesn't have Step 123 like most others do), and it's also a long thread to read.
  • #1,354
  • Oct 6, 2009 7:09pm Oct 6, 2009 7:09pm
Quoting Jankone
Another example... big pinbar in downtrend, we go against trend, so divergence is needed.

( new trend has started thanks for this pinbar)

This was my 1 trade today
Keep taking CT trades, I need more money
  • #1,355
  • Oct 6, 2009 7:19pm Oct 6, 2009 7:19pm
Quoting Ryanmcd
This was my 1 trade today
How did you manage your trade (exit and stop)??
  • #1,356
  • Oct 7, 2009 2:16am Oct 7, 2009 2:16am
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  • #1,357
  • Oct 7, 2009 2:31am Oct 7, 2009 2:31am
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  • #1,358
  • Oct 7, 2009 4:13am Oct 7, 2009 4:13am
Quoting nasir.khan
.
Try posting your chart at the point you TAKE the trade....not afterwards since we all benefit from hindsight.

Then show a chart at point of closing trade.....the time stamps and charts then give a better impression of reality
every Saint has a past. Every Sinner has a Future
  • #1,359
  • Oct 7, 2009 4:32am Oct 7, 2009 4:32am
Hi
1st post here.
Not the perfect pin
Not perfect div
But it looks in retrospective as a good entry point .
Is this what we are looking ?
Tks
david4u
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  • #1,360
  • Oct 7, 2009 4:42am Oct 7, 2009 4:42am
Here's the only two trades I took yesterday. Both E/U 5min. Good to see Ryan taking the first CT pin with div. I was a little unsure and exited too early because the big bearish bars preceeding the pin show evidence of a strong down move. The pin was small in comparison. How did others manage this trade?

What are people's opinions on the second with trend pin? A little too eager, or satisfactory?

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