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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #1,381
  • Oct 7, 2009 10:11am Oct 7, 2009 10:11am
On the first pin no divergence, and the second pin didn't get broken. I wouldn't have traded none of those 2.

Please read the rules laid out in this thread if you haven't. By obeying them you would have avoided both losses.

Quoting Kakyn
More.
  • #1,382
  • Oct 7, 2009 10:22am Oct 7, 2009 10:22am
took this trades
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  • #1,383
  • Oct 7, 2009 10:25am Oct 7, 2009 10:25am
Quoting artov
On the first pin no divergence, and the second pin didn't get broken. I wouldn't have traded none of those 2.

Please read the rules laid out in this thread if you haven't. By obeying them you would have avoided both losses.
May I know what does get broken means?

Just FYI I read the whole thread twice already (excuse me my learning curve might not be as smooth as you guys, that's why I need to post up to let you guys enlighten me with your advices)

Thanks.
  • #1,384
  • Oct 7, 2009 10:32am Oct 7, 2009 10:32am
Quoting giraia_br
took this trades

Hey, Sir,
looking at your chart, i guess these were slightly profitable trades, unless u had a different profit target.
One of those instances wherein/proof that checking higher TF (M15-D1) is beneficial.

Do post more

EDIT:
looking at your chart, (a few bars after The 1st PB's) RSI value slightly breached the 50 level, while for the 2nd PB the 50level seem to have been rejected. not to mention price failed to touch the midBB twice = tells me downtrend at that time is fairly strong
  • #1,385
  • Oct 7, 2009 10:43am Oct 7, 2009 10:43am
The candle/bar which formed after the pinbar, didn't break the high of the pinbar.

Some members like Jigsaw do trade immediately when the candle/bar after the pinbar closes, but I wouldn't do that as a rookie.

No problem, keep on posting questions

Quoting Kakyn
May I know what does get broken means?

Just FYI I read the whole thread twice already (excuse me my learning curve might not be as smooth as you guys, that's why I need to post up to let you guys enlighten me with your advices)

Thanks.
  • #1,386
  • Oct 7, 2009 10:43am Oct 7, 2009 10:43am
Quoting Kakyn
May I know what does get broken means?
Just FYI I read the whole thread twice already (excuse me my learning curve might not be as smooth as you guys,....
it means a trade was not triggered (in this case, a buy trade to the upside).
usually, we put a buffer of x amount of pips (0 - 5pips, trader-dependent) above the close before we put in a trade.

view & review all the charts here, focusing specially on jankone & ryanmcd's posts/charts. do it until it sinks in. in the end u will notice that this is pretty easy stuff to learn, but may take time for u to implement well.

btw, check out: divergence
  • #1,387
  • Oct 7, 2009 11:00am Oct 7, 2009 11:00am
Quoting giraia_br
took this trades
hi g

agree with the comments of Supreme.

both pins were counter trend with nice div.

if i was trading the 1st pin i would take full profit at the mid BB line / 21 ema.

If i was trading the second pin i would have cancelled the order as we did not break the pin on the next candle.

just my views.

happy trading.

ps pins galore today on eur/usd 5m (ibfx feed). didnt take any though as i was already in a few trades J16 method.
  • #1,388
  • Oct 7, 2009 11:06am Oct 7, 2009 11:06am
Looks A + (or at least A) to me. Please comment
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  • #1,389
  • Oct 7, 2009 11:17am Oct 7, 2009 11:17am
Quoting Kakyn
Looks A + (or at least A) to me. Please comment
looks like it is, +14 pips.
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  • #1,390
  • Oct 7, 2009 11:27am Oct 7, 2009 11:27am
Quoting Kakyn
looks like it is, +14 pips.
Nice one



Tom
  • #1,391
  • Oct 7, 2009 11:35am Oct 7, 2009 11:35am
Quoting Kakyn
Looks A + (or at least A) to me. Please comment
i refrain from categorizing a setup as A+ or B- or whatever.
anyway, this small PB is at a higher swing low, with bullish hidden divergence(which denotes trend continuation; see the divergence link i shared with u earlier). if it works it may stall at 1.5910-ish area (u marked this area)

look at Jankone's charts. trades from extreme swing highs/lows are usually more profitable.

EDIT:
so u traded it, nicely done.
  • #1,392
  • Oct 7, 2009 11:49am Oct 7, 2009 11:49am
Quoting supremeChaos
i refrain from categorizing a setup as A+ or B- or whatever.
anyway, this small PB is at a higher swing low, with bullish hidden divergence(which denotes trend continuation; see the divergence link i shared with u earlier). if it works it may stall at 1.5910-ish area (u marked this area)

look at Jankone's charts. trades from extreme swing highs/lows are usually more profitable.

EDIT:
so u traded it, nicely done.
Thanks.

I don't really care if it's regular or hidden as long as there is divergence and there's good looking enough pin i'll take the trade.

The divergence is only valid for 1 swing? Let's say if there are 3 swing lows and the pin A and pin B is at first and third swing, and there is divergence, the signal is still valid?

BTW supremeChaos what's your usual TP and SL (or your exit strategy)?

Kakyn.
  • #1,393
  • Oct 7, 2009 11:53am Oct 7, 2009 11:53am
Quoting Nasyl
How did you manage your trade (exit and stop)??

Same way I posted 2 years ago. I have something I wrote for the past few days range that will set my stop and target now so it's all done on the fly. And no I cant post it but it's easy to do if you know general math or what a pivit is.
Keep taking CT trades, I need more money
  • #1,394
  • Oct 7, 2009 3:27pm Oct 7, 2009 3:27pm
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, no offense. i see the downtrend you referring to. but i took this as a 'bb flat/range' trade. i guess different eyes see different things.
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  • #1,395
  • Oct 7, 2009 8:49pm Oct 7, 2009 8:49pm
Quoting dhh
jankone, no offense. i see the downtrend you referring to. but i took this as a 'bb flat/range' trade. i guess different eyes see different things.
sure, that's understandable.

if u made profit/s, good for u. all that matters is what happens to YOU with what u've learned.
ALL of us will always be unique.
  • #1,396
  • Oct 7, 2009 9:01pm Oct 7, 2009 9:01pm
Quoting Kakyn
..
I don't really care if it's regular or hidden as long as there is divergence and there's good looking enough pin i'll take the trade.
...what's your usual TP and SL (or your exit strategy)?
On the contrary,
i think regular or hidden div matters. why?
1. we know regular div = possible reversal
& 2. hidden div = possible trend continuation

knowing the difference between the two, we can adjust/customize our plan of attack for every trade.
if we trade 1, then we may trade with a conservative target since we are trading for a reversal/countertrend.
if we trade 2, then we may give more space for the trade to mature/increase profit, simply because we are trading with the trend.


as for TP &SL, i have no set TP & SL (i do not trade this M5 method purely). they depend on the charts/situation. basically based on S/R, PPZ (see james16 thread), BB/Bolli.


Quote
The divergence is only valid for 1 swing? Let's say if there are 3 swing lows and the pin A and pin B is at first and third swing, and there is divergence, the signal is still valid?
if i understand your Q correctly, div. from non-consecutive swings are valid, but imho, it may be a weak(/weaker) basis, div.-wise.
more important are div's plotted from consecutive swings, imho they are more current, more powerful.
  • #1,397
  • Oct 7, 2009 9:36pm Oct 7, 2009 9:36pm
thanks Faizal and Supremechaos.

i need to read the thread and recendt Ryan posts. All i read are old Ryan posts until july and only a few after that. Many thanks for your observations.

i did not read about the 50 RSI rejection or price failing to reach the middle BB for two consecutive times.

about the target, i remember last year Ryan was uusing 10 TP and SL but i read a few recent posts he was taking 20 pips with 5 SL.

@Ryan

if you are readint it, do you think my error was simple do not take +10 in those 2 trades?


thanks in advance.
  • #1,398
  • Oct 7, 2009 11:52pm Oct 7, 2009 11:52pm
Hope it helps guys.


Thanks to Cyrus.
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  • #1,399
  • Oct 8, 2009 5:49am Oct 8, 2009 5:49am
I liked this one. With the trend, rejection of the middle bb and 21 EMA, nice size and shape.
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  • #1,400
  • Oct 8, 2009 7:13am Oct 8, 2009 7:13am
Quoting sebra
I liked this one. With the trend, rejection of the middle bb and 21 EMA, nice size and shape.
Sebra,

Looks good on paper... the following news sent things hay wire however!!

hope you got out with some profit!

Tom
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