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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #1,501
  • Oct 13, 2009 9:40am Oct 13, 2009 9:40am
Quoting brasilero
Lost again on CT trade! Pin bar with div. Think I will only trade trend trades for awhile!
I took this and took a 1R loss too Brasilero. It didn't get to 2R for me and I don't move stops on 5 min trades. Still learning, that's why I spend three months before applying any real money...

In hindsight, I normally don't take pinbars that follow strong bars in the opposite direction. In this case, we had a very strong bearish bar right before our pinbar. Perhaps I got greedy.

Josh
  • #1,502
  • Oct 13, 2009 9:51am Oct 13, 2009 9:51am
Quoting fat_tom
Josh,
I think your right...
I did a quick back test of all 5M (EURUSD) bars for September the other night...
simple pins with div and pins with trade....
Tom,
i believe u mean pins with (the) trend.
small clarification for the sake of other readers.
  • #1,503
  • Oct 13, 2009 9:59am Oct 13, 2009 9:59am
Hey guys,

Does anyone here know about a pin bar alerter which makes a noise when a pin bar forms (or an outside bar)?

It will be much easier for me....don't have much time to check charts.

Thanks.

Ben
  • #1,504
  • Oct 13, 2009 10:00am Oct 13, 2009 10:00am
Quoting brasilero
Lost again on CT trade! Pin bar with div. Think I will only trade trend trades for awhile!
Brasilero,

I lost on this one as well...

with regards to moving a stop on this one it went into profit and way back down again in the time it took me to stand up and yawn... oh well...

In honesty SP is right the previous bar was to strong for this pin. I must be more picky in future...

oh well onto the next trade!

Tom
  • #1,505
  • Oct 13, 2009 10:05am Oct 13, 2009 10:05am
Quoting Jduester
I took this and took a 1R loss too Brasilero. It didn't get to 2R for me and I don't move stops on 5 min trades. Still learning, that's why I spend three months before applying any real money...

In hindsight, I normally don't take pinbars that follow strong bars in the opposite direction. In this case, we had a very strong bearish bar right before our pinbar. Perhaps I got greedy.

Josh
I am playing CT trades with 1R but it missed it for 2-3 pips! I was thinking about putting it to BE earlyer but i think a would get stoped out too much on the 5 min!
It is taking ages to load up my posts! Quality control
  • #1,506
  • Oct 13, 2009 10:47am Oct 13, 2009 10:47am
Quoting brasilero
I lost on this one because I dont wait for the brake of the pin! It happens
i don't wait for break neither. but this one actually broke(on my chart) unless you use a buffer. anyhow, we both know loss happens.
  • #1,507
  • Oct 13, 2009 12:14pm Oct 13, 2009 12:14pm
Quoting Jduester
I'm also thinking about testing a strategy where I sell blindly on the close of a 5min bar when we have RSI(6) above 90 (and buy if below 10)... (stop above high of bar). I have not tested this but I think it might be worth it... smaller win % but could get some nice runs. Anyone done any research on this?

IMO, a simple method with proper money management is all it takes. Josh
i'm assuming you talking abt selling blindly when you see a ct/div setup. if yes, maybe consider not COMPLETELY 'blindly on the close of bar'. how about at least wait for a tail, or a bear bar if selling(bull bar if buying), just some indication of reversal.

i have the same observation that when you have good ct/div setups, some of them work even without good pins, and they challenge your discipline to not take action. i understand. my sugguestion above is just a little safety net. good luck.
  • #1,508
  • Oct 13, 2009 12:20pm Oct 13, 2009 12:20pm
Quoting brasilero
Lost again on CT trade! Pin bar with div. Think I will only trade trend trades for awhile!
may i ask how long have you used this system? be careful not to let a few lossing trades change your trade plan or confidence to the system. you need to learn it well and do it long enough to find out if it works for you or not.

i'm not againt taking only trend trades, in fact i think it's a good way to start.
  • #1,509
  • Oct 13, 2009 12:36pm Oct 13, 2009 12:36pm
1 stop @ cost one +20 or 4% gain, look to be done on the day but you never know..
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Keep taking CT trades, I need more money
  • #1,510
  • Oct 13, 2009 12:59pm Oct 13, 2009 12:59pm
Quoting dhh
may i ask how long have you used this system? be careful not to let a few lossing trades change your trade plan or confidence to the system. you need to learn it well and do it long enough to find out if it works for you or not.

i'm not againt taking only trend trades, in fact i think it's a good way to start.
I have been trading for a while now(demo) and I am not giving up that easy
It is just that the two CT trades I took today failed! Only thing that could keep me out was the big bars before the PB the rest was perfect imo!
But I know that some times it will fail and I am fine with that!
But two in a row
No bigy, only demo
  • #1,511
  • Oct 13, 2009 1:11pm Oct 13, 2009 1:11pm
13 points today. Played the pullback after break of 20 EMA to 20 EMA with trend. Late trade cost me 3 pips.

I will try to post evey trade I take going forward.
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  • #1,512
  • Oct 13, 2009 3:30pm Oct 13, 2009 3:30pm
Quoting Ryanmcd
1 stop @ cost one +20 or 4% gain, look to be done on the day but you never know..
2 trades for me today, net BE or -1.

looks like you're not using 1 click buy/sell in oanda, i found it useful for 5min. if interested, here's how to setup:
-tools > view > quote list/panel
-then you can size it to show 1 or more pairs, or the comfortable font size
-also try to button next to 'F'

if you get confirmation window, try disable it in user preference

you can also set your trade units on the fly with it.
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  • #1,513
  • Oct 13, 2009 3:37pm Oct 13, 2009 3:37pm
Quoting brasilero
I have been trading for a while now(demo) and I am not giving up that easy
It is just that the two CT trades I took today failed! Only thing that could keep me out was the big bars before the PB the rest was perfect imo!
But I know that some times it will fail and I am fine with that!
But two in a row
No bigy, only demo
two in a row is not too bad. when you can put a smiley face next to 'two in a row' say 'it's just a numbers game', your psychology advanced to a higher level. i want to go there myself
  • #1,514
  • Oct 13, 2009 11:26pm Oct 13, 2009 11:26pm
Quoting benji533
Hey guys,

Does anyone here know about a pin bar alerter which makes a noise when a pin bar forms (or an outside bar)?

It will be much easier for me....don't have much time to check charts.

Thanks.

Ben
Here you go. This has an alert of pin bars on every time frame except 1 min and 5 min.
You'll get an audio alert and pop up with all time frames 15 min and up and you only need 1 chart for each pair. I keep charts on 5 min time frame . Happy trading, Paris
Attached File(s)
File Type: mq4 PriceAction AHA 0_2.mq4   51 KB | 725 downloads
  • #1,515
  • Oct 14, 2009 3:38am Oct 14, 2009 3:38am
I missed this one, anyone in?
Attached Image (click to enlarge)
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  • #1,516
  • Oct 14, 2009 3:44am Oct 14, 2009 3:44am
Quoting Kakyn
I missed this one, anyone in?
Missed it myself...

had just sat down at my desk.

oh well...

Tom
  • #1,517
  • Oct 14, 2009 3:53am Oct 14, 2009 3:53am
Quoting Kakyn
I missed this one, anyone in?

I saw it and decided not to trade because it was too close to a UK jobless claims data release for me.
  • #1,518
  • Oct 14, 2009 3:58am Oct 14, 2009 3:58am
Quoting fat_tom
Missed it myself...

had just sat down at my desk.

oh well...

Tom
It was a crazy move, nice pin with tail cut through DP.
  • #1,519
  • Oct 14, 2009 4:09am Oct 14, 2009 4:09am
For those looking to visually backtest Potential Pin Bars, there are a lot of potential candidates, more than I expected.

These indicators were created by Scott Jones, (SMJONES) thanks for that Scott
Attached File(s)
File Type: mq4 PinBarAlert.mq4   4 KB | 819 downloads
File Type: mq4 PinBar All Types With Alert.mq4   4 KB | 734 downloads
Money grows on the tree of persistence
  • #1,520
  • Oct 14, 2009 4:58am Oct 14, 2009 4:58am
Quoting Ryanmcd
1 stop @ cost one +20 or 4% gain, look to be done on the day but you never know..
Hi Ryanmcd, with great interest I've been following your very enlightening posts here and on J16.

You've mentioned several times the importance of time.

If you don't mind, let me ask you a question about the last trade you posted.

The main trend was up. Starting the US session price retraced for a while.

1) Did you take the trade because it was the first signal in the main direction of the trend (UP) and

2) because it was pre-lunch time 11:20 am? Would you take the same trade at, let's say, 12:30 pm?

Thanks in advanced,

Henry

Jankone, my gratitude for putting this fantastic thread together.
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