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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #1,421
  • Oct 8, 2009 1:23pm Oct 8, 2009 1:23pm
Quoting turnip15
Look at the Pin bar you arrowed then look 5 bars to the right where Ryan would have entered....what do you notice?
(Clue - elasticity)

I follow Ryans advice re looking and annotating lots of charts. Try covering up charts and working(uncovering) one bar at a time and decide if you would trade that bar. Then check your results. Not high tech. I know but it gets you thinking.
Yep, the pin bar with div. In future I'm staying out of trend trades if divergence starts to appear, especially when coupled with a big pin like that. Thanks.
  • #1,422
  • Oct 8, 2009 3:14pm Oct 8, 2009 3:14pm
Quoting Jankone
It's not about trade. It's about trader.
yes, and yes. i beginning to see this more as i trade more.
  • #1,423
  • Oct 8, 2009 11:50pm Oct 8, 2009 11:50pm
I have been following this wonderful thread for a while .
Can someone pls take a look at my chart .
pin #1 - perfect setup . With the trend + div
pin #2 - CT , no div , so no entry .
What is your buffer for confirmation entry ? I mean how many pips bellow the low of pin#1 will be your entry point ? 2-5 pips ?
tks 4 your help
david4u
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  • #1,424
  • Oct 9, 2009 4:08am Oct 9, 2009 4:08am
Quoting david4u
I have been following this wonderful thread for a while .
Can someone pls take a look at my chart .
pin #1 - perfect setup . With the trend + div
pin #2 - CT , no div , so no entry .
What is your buffer for confirmation entry ? I mean how many pips bellow the low of pin#1 will be your entry point ? 2-5 pips ?
tks 4 your help
david4u
Hello,

I wouldn't take the first pin because, its too small, you need bigger pins, a small pin like this doesn't have a real meaning, for me at least...

and yes the second pin is a no trade

I take a trade when a beautiful pin closes with div -> so on the opening of the next bar, and so far having great success with it, but i'm not taking a lot trades max. 1-2 a day , thanks to jankone for sharing
consistency wins
  • #1,425
  • Oct 9, 2009 8:11am Oct 9, 2009 8:11am
1st loss on the week, it happens
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Keep taking CT trades, I need more money
  • #1,426
  • Oct 9, 2009 8:20am Oct 9, 2009 8:20am
Quoting Ryanmcd
1st loss on the week, it happens
Thanks for posting that one Ryan.
  • #1,427
  • Oct 9, 2009 8:21am Oct 9, 2009 8:21am
I got out of that one on the second bar when the other pin downward appeared.
  • #1,428
  • Oct 9, 2009 8:22am Oct 9, 2009 8:22am
Quoting Ryanmcd
1st loss on the week, it happens
Ryanmcd,

Cheers for that - I missed it due to being away from my desk but would have got invloved no doubt if I could....

I keep thinking I miss trades (and I do!) but I need to remeber I miss the loosers as well!!!

cheers

Tom
  • #1,429
  • Oct 9, 2009 8:23am Oct 9, 2009 8:23am
Quoting Ryanmcd
1st loss on the week, it happens
i looked at that candle but couldnt see a div to reverse the trend so decided not to take it. However i should have shorted the second candle after that one i think and that would have worked well.
  • #1,430
  • Oct 9, 2009 8:58am Oct 9, 2009 8:58am
I know this is not the time frame we use in this thread...

I'm thinking of going short once the present candle closes... can someone comment please?

Thanks
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Stay on the PIPest side of life!
  • #1,431
  • Oct 9, 2009 9:06am Oct 9, 2009 9:06am
Quoting PIPer
I know this is not the time frame we use in this thread...

I'm thinking of going short once the present candle closes... can someone comment please?

Thanks

Didn't take the trade because when the candle closed it did not look like a Pin Bar at all.
Stay on the PIPest side of life!
  • #1,432
  • Oct 9, 2009 9:07am Oct 9, 2009 9:07am
Quoting PIPer
I know this is not the time frame we use in this thread...

I'm thinking of going short once the present candle closes... can someone comment please?

Thanks
Not a pinbar
  • #1,433
  • Oct 9, 2009 9:20am Oct 9, 2009 9:20am
Quoting fat_tom
Ryanmcd,

Cheers for that - I missed it due to being away from my desk but would have got invloved no doubt if I could....

I keep thinking I miss trades (and I do!) but I need to remeber I miss the loosers as well!!!

cheers

Tom

Yep it's not like you have a fixed set of winner or losers, just take what you can and what looks good.
Keep taking CT trades, I need more money
  • #1,434
  • Oct 9, 2009 9:24am Oct 9, 2009 9:24am
I had my finger on the buy trigger but didn't pull it.

I didn't pull the trigger due to the fact that the pin isn't at a swing low, but in the middle of the swing.

For me it's location first, then comes the PA.

Quoting Ryanmcd
1st loss on the week, it happens
  • #1,435
  • Oct 9, 2009 9:36am Oct 9, 2009 9:36am
Quoting artov
I had my finger on the buy trigger but didn't pull it.

I didn't pull the trigger due to the fact that the pin isn't at a swing low, but in the middle of the swing.

For me it's location first, then comes the PA.
Hi Artov, just out of interest how did you know that pinbar wasnt at the bottom of a swing low and it was in the middle of a swing?
  • #1,436
  • Oct 9, 2009 9:55am Oct 9, 2009 9:55am
Afternoon all, the chart is of todays EUR/USD, I have marked the chart, just wondered your thought on which candles you would consider to be pinbars if any?

Cheers
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  • #1,437
  • Oct 9, 2009 10:09am Oct 9, 2009 10:09am
Took this one! Let's see how it plays out...

Comments anyone?

Thanks
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Stay on the PIPest side of life!
  • #1,438
  • Oct 9, 2009 10:12am Oct 9, 2009 10:12am
Hello traders


Hi Jankone my friend i test new Jankone mehtod on 10 TF and works good for me i will show you guys some examples ,one of them was begore 30 minutes when i took buy at EUR USD ....

Enjoy
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"Buy on fear, sell on greed !!!
  • #1,439
  • Oct 9, 2009 10:19am Oct 9, 2009 10:19am
Quoting PIPer
Took this one! Let's see how it plays out...

Comments anyone?

Thanks
it didn't close as pin on my chart, but looks good to me on your chart.
  • #1,440
  • Oct 9, 2009 10:22am Oct 9, 2009 10:22am
2 charts I made for you.

First, my 1hr chart shows the nice ascending trendline.

Secondly, I've marked on the 5m chart with the arrows how often price tested the trendline. The particular countertrend pinbar we are talking about didn't came near the lows of Asian and early London session.

You can see price really pounded the ascending trendline earlier. One simple pinbar which didn't even come close to the lows we saw earlier, didn't convince me at all that the trendline has been rejected again.

A little bit later you see price aggressively pounding the area again, unfortunately no pinbar there or I would have been long for sure.

Quoting pipsulike
Hi Artov, just out of interest how did you know that pinbar wasnt at the bottom of a swing low and it was in the middle of a swing?
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