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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #1,561
  • Oct 16, 2009 3:03pm Oct 16, 2009 3:03pm
Quoting fat_tom
Just missed this one... browsing the web... oppss...

nice pin with div (nice BB touch SC!)

Tom
tom et al
can i make a little suggestion to post the full chart? i know you did it so ppl could see the price action better, but it doesn't really show the whole setup most of the time(and loss its purpose here). ppl could always click to amplify the chart it they want to.
i think it's easier to post the whole chart anyway since you don't have to edit it.
Attached Image
  • #1,562
  • Oct 16, 2009 3:13pm Oct 16, 2009 3:13pm
Quoting supremeChaos
hey bro,
i just eyeballed it but...
the div line on RSI does not correspond with the div line on price.

if the div.line is plotted correctly, looks like there was no div.
price was still 'walking the bands'... so be careful when making countertrend trades.
you're right supreme, the div is not by definition to the letter. this was something i struggled with before. you can see my question and mike's answer on the J16 thread here
in short, price made clear lower low, and rsi made equal(or close) bottoms, there's div nature.
  • #1,563
  • Oct 16, 2009 3:33pm Oct 16, 2009 3:33pm
Quoting fat_tom
Dhh,

I didn't see this one myself but wouldn't have taken it I think...

2 large bear bars previous to the pin - strong down trend. Also looks like the pin didn't break - I assume you don't wait for the break on a bar like this?

again I wouldn't have traded it for the reasons above but its all a numbers game like Jankone says...

Tom
tom, i don't wait for break on 5min.

i saw the big bear bars you refer to. but the pin wasn't very small compare to others i have seen, i also like how the pin went thru the BB and the rsi in the bottom and decided to take it.

there's not much time to analyze and think on the 5min especially when i enter on the close. you know some ppl refer to golf as a 'muscle memory' because after you swung 1000s times your body just know what to do. i think it's similar trading the 5min, without too much thinking, your eyes see the setups and your finger clicks the mouse. we can always catergorize the trade good or bad in retro, but retro is retro, 5min is very real time imo
  • #1,564
  • Oct 16, 2009 3:38pm Oct 16, 2009 3:38pm
Quoting turnip15
Is this a valid Divergence trade ?
(still learning)
looks good to me pin on whole number too.
looks like pin would pierce BB(?) if you had it on the chart, even better when it does.
  • #1,565
  • Oct 16, 2009 3:52pm Oct 16, 2009 3:52pm
Quoting fat_tom
Whats everyone else using for stops? tops/bottoms of pins? or something more agressive?
Tom
i don't move a lot on the 5min. my initial stop is top/bottom of pins, move to BE when it makes sense(could be some good positive pips or sup/res etc), then take profit. just how i do it so far.
  • #1,566
  • Oct 16, 2009 5:15pm Oct 16, 2009 5:15pm
Quoting dhh
tom et al
can i make a little suggestion to post the full chart? i know you did it so ppl could see the price action better, but it doesn't really show the whole setup most of the time(and loss its purpose here). ppl could always click to amplify the chart it they want to.
i think it's easier to post the whole chart anyway since you don't have to edit it.
dhh,

In future I will show a bit more of the past as well!!! yeah they're small snaps.... just most of the time when someone posts a chart I go to MT4 and pull iut up myself to see what the whole trade/day looks like myself if you know what I mean... but yeah thats daft... I will post the bigger picture in future!

cheers

Tom
  • #1,567
  • Oct 16, 2009 5:34pm Oct 16, 2009 5:34pm
Quoting dhh
tom, i don't wait for break on 5min.

i saw the big bear bars you refer to. but the pin wasn't very small compare to others i have seen, i also like how the pin went thru the BB and the rsi in the bottom and decided to take it.

there's not much time to analyze and think on the 5min especially when i enter on the close. you know some ppl refer to golf as a 'muscle memory' because after you swung 1000s times your body just know what to do. i think it's similar trading the 5min, without too much thinking, your eyes see the setups and your finger...
dhh,

I think thats hit it on the head... don't over analyze... just follow the plan.. pull the trigger.... next.. regardless of the result.

the edge plays out... so theoretically waiting for the break might produce a higher percentage of wins... lets say for arguments sake 70% instead of 60%... but if your only pulling the trigger half as much waiting for the break and on both styles your 2:1 (again for arguments sake) then waiting for the break is costing you money! no right or wrong here I guess - as long as the edge is there and the trading style suits your personality you just pull the trigger... again... and again... and again



Tom
  • #1,568
  • Oct 16, 2009 9:17pm Oct 16, 2009 9:17pm
well this is a really cool thread. i read a lot and looked at some pairs. Very interested in trying this when the market goes back live on Monday. The only problem is that you need to devote about 6-10 hrs/day to forex in order to trade this system... It requires all eyes/ears for all hours of the day in order for you to catch that winner trade (which may only happen once a day - or twice if you're lucky!)
Many choose unhappiness over uncertainty.
  • #1,569
  • Oct 16, 2009 9:19pm Oct 16, 2009 9:19pm
HI! I was once trading soley on m15 and 1h timeframes using moving averages and it works quite well,but opportunities come few times.Anyway I discovered that in the 5min and 1min anytime there is an MACD crossing(5,13,1) and proper stochastic crossing(10,3,3) applied to closing price,happening at the same time and macd is above the 0(zero) (line for confirmation) ,and it always wins for me.I got about an average of 30-40pips daily.out of about 25 trades,i lost only 3.And that was out of greed(didn't close when i was meant to).Please i really want to learn more and become perfect .please Does anybody know any other accurate technique for the 5min,1min or 15min timeframe?
  • #1,570
  • Oct 17, 2009 4:26am Oct 17, 2009 4:26am
There are million ways how to trade. Just pick one - train it and you make money. this is time-wasting.




Quoting roca101
HI! I was once trading soley on m15 and 1h timeframes using...
  • #1,571
  • Oct 17, 2009 2:03pm Oct 17, 2009 2:03pm
Quoting Dan Gilbert
well this is a really cool thread. i read a lot and looked at some pairs. Very interested in trying this when the market goes back live on Monday. The only problem is that you need to devote about 6-10 hrs/day to forex in order to trade this system... It requires all eyes/ears for all hours of the day in order for you to catch that winner trade (which may only happen once a day - or twice if you're lucky!)
welcome to the thread.
it's not a definite how much time you have to spend each day using this system, or any system for that matter. ppl need to know what they want to get out of it, and what they are willing to put into it. then fit it into their life style accordingly.
so 6-10 hrs works, 1-2 hrs also works. as you read thru the thread, you should gotten the impression that ppl here have different situations(family, job, habit etc.)
just my oppinion.
  • #1,572
  • Oct 17, 2009 2:10pm Oct 17, 2009 2:10pm
Quoting roca101
HI! I was once trading soley on m15 and 1h timeframes using...
the system here is what we do here. accurate or not, it's still 20%, 80% is the trader.

this is what i don't understand, you loss 3 out of 25, that's winning 88%. why are you looking for anything else? you should be happy with that, i know i would be.
  • #1,573
  • Oct 17, 2009 9:21pm Oct 17, 2009 9:21pm
can someone point me to what the settings on a stochastic would be in order to get good signals on these 5 min charts? Thank you.
Many choose unhappiness over uncertainty.
  • #1,574
  • Oct 17, 2009 9:34pm Oct 17, 2009 9:34pm
Quoting dhh
you're right supreme, the div is not by definition to the letter....
i think u missed my point.
i'm trying to compare the div.lines plotted on price & RSI in that chart. do check it again. it's clearly incorrectly plotted... it's just a minor error, that's all i'm saying. u either adjust the plotted div.line on price or RSI to get it plotted correctly.

Quote
....in short, price made clear lower low, and rsi made equal(or close) bottoms, there's div nature
here, u are referring to an RSI div.line which u did not plot on that chart, which at the same time is precisely the one i'm referring to the above & my previous post. if u plot this, then this is/should've been the correct RSI div.line for the div.line plotted on price.
here, i think i got it. u are referring to a correct RSI div.line, but u simply incorrectly plotted the correct one OR u forgot to plot it too (which would've shown 2 RSI.div lines, instead of 1, on your chart). that's where the confusion came in.


btw, the RSI div.line on that chart, in itself is incorrect. if u look at the corresponding prices, price made a lower low & so did RSI (check price & RSI closely), hence there was no div. [ooops, just noticed i said the exact same thing in my reply post already]
  • #1,575
  • Oct 17, 2009 9:45pm Oct 17, 2009 9:45pm
Quoting Dan Gilbert
can someone point me to what the settings on a stochastic would be in order to get good signals on these 5 min charts? Thank you.
Hi Dan.
this thread does not discuss Stochs. RSI is mainly used here.
if u are interested to use stochs instead, u can experiment on settings that suit u.
in keeping with this thread, & to be able to follow it closely & be able to discuss it with us, u should use RSI too (u can keep using Stochs but we cant/wont be able to discuss it here).

any oscillator (RSI, MACD, Stochs, CCI etc) can be used to determine/plot div but this thread is into RSI only. if u use other oscillators then consequentially, u should learn on your own (as it wil be off-topic).

Welcome to the thread
  • #1,576
  • Oct 17, 2009 10:12pm Oct 17, 2009 10:12pm
Quoting supremeChaos
Hi Dan.
this thread does not discuss Stochs. RSI is mainly used here.
if u are interested to use stochs instead, u can experiment on settings that suit u.
in keeping with this thread, & to be able to follow it closely & be able to discuss it with us, u should use RSI too (u can keep using Stochs but we cant/wont be able to discuss it here).

any oscillator (RSI, MACD, Stochs, CCI etc) can be used to determine/plot div but this thread is into RSI only. if u use other oscillators then consequentially, u should learn on your own (as it...
sorry i didn't mean to upset you!!!!!
Many choose unhappiness over uncertainty.
  • #1,577
  • Oct 18, 2009 2:54pm Oct 18, 2009 2:54pm
words of wisdom to you all, back up your hard drive. Mine crashed lost all my files. Loading templates suck......now if I can figure out how to get back into my FXDD account............might be time to make the shift to Onada anyway.
  • #1,578
  • Oct 18, 2009 3:20pm Oct 18, 2009 3:20pm
Quoting Icehocey77
words of wisdom to you all, back up your hard drive. Mine crashed lost all my files. Loading templates suck......now if I can figure out how to get back into my FXDD account............might be time to make the shift to Onada anyway.
I've been there, I now have 3 hard drives. Important shit is backed up twice. Two internal HDD and one external HDD. Also have a nice 2 & 4 GB USB stick. Live and learn. Oh, I'm sure I'll have two drives fail at the same time though. lol.
  • #1,579
  • Oct 18, 2009 10:08pm Oct 18, 2009 10:08pm
Quoting Dan Gilbert
sorry i didn't mean to upset you!!!!!
LOL..
i am not upset. why should i be upset?
I just reminded u & at the same time welcomed u, that's all.



Icehocey77,
what caused it to break down? sorry to hear that.
why are u planning to shift to Oanda, btw?
.. & thanks for the reminder.

I, on the other hand, have a flu, but am getting a little better now.
probably i'm spending way too much time on the charts.
another reminder to all --- dont overdo it; take adequate rest; always keep your health in check
  • #1,580
  • Oct 18, 2009 10:37pm Oct 18, 2009 10:37pm
Quoting supremeChaos



Icehocey77,
what caused it to break down? sorry to hear that.
why are u planning to shift to Oanda, btw?
.. & thanks for the reminder.

I, on the other hand, have a flu, but am getting a little better now.
probably i'm spending way too much time on the charts.
another reminder to all --- dont overdo it; take adequate rest; always keep your health in check
Well I guess the hard drive just gave out...it was 5 years old, so I guess it was on borrowed time.


To make matters worse, I ended up getting XP and all my drivers installed on the new hard drive except my network card. So I read somewhere that updating the bios will fix this..........and I ended up doing a bad flash.


So I ended up having to buy a new computer with all my forex winnings


you have the h1n1? it's been going around here like crazy. Washing my hands 4-5 times a day. get well soon!
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