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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #1,701
  • Oct 27, 2009 7:57am Oct 27, 2009 7:57am
Quoting redart007
Nice Pin + Div, but probably should have got out after 3-4 bars not going my way, any comments?
Again saved by the rules No trade long if the pin is under the 21EMA! It is hard to follow the rules but it is worth it! DISCIPLINE!!!
  • #1,702
  • Oct 27, 2009 8:12am Oct 27, 2009 8:12am
Quoting Jduester
I'm guessing Jankone will comment here too, but I can give you my experience. I am currently in my second month of formal demoing this method. I read through this thread and RyanMCD's posts prior to demoing.

From there, I was able to come up with several profit taking strategies that I'm testing on each trade I take. I will post these results at the end of the month, but here are the strategies I'm testing.

I only trade E/U 5Min with this strategy. I generally enter on the break of the pinbar, but do sometimes enter on close of bar. I always...
Josh,

I totally agree with you. I too started over at J16 and yes patience is the key here (although you might not think so looking at some of my trades but thats for another post!)

I too have played with differnet stops and to be honest I haven't reached any conclusions yet. They are all profitable and I think it depends on the trader as to wether he/she is risk adverse (move SL to BE for example) or happy with more losses and bigger wins (2:1 TP as opposed to 1:1) currently I'm 2:1 TP with SL move to BE if I'm around!!! and will use PPZ/S/R for TP if its obvious and jumps out.

I await your results with baited breath!

Tom
  • #1,703
  • Oct 27, 2009 8:27am Oct 27, 2009 8:27am
Trend continuation pinbar on eurusd UT15... short on breakout of pinbar, SL 14 pips (2pips over tail), TP on the break of BB for 17 pips...

Attached Image
  • #1,704
  • Oct 27, 2009 9:08am Oct 27, 2009 9:08am
not perfect trend continuation pinbar, risky trade... on eurjpy TF15...
Short 136.72 with initial SL at 136,92.
Risky trade, so it must have higher TP, set it to 1.5R at 136.42 for 30pips...
move SL near entry 1 min before the news. TP reach in 1 second
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  • #1,705
  • Oct 27, 2009 10:01am Oct 27, 2009 10:01am
two trades today as per A+ rule

with trend and other counter trend
Did demo trades, both were well
also will be posting failed trades

Thanxs jankone! you Rock!

Cheers
Winston
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur usd 5min.gif Size: 21 KB
Click to Enlarge Name: usd jpy m5.gif Size: 22 KB
Trading is a delicate balance of Strategy , Money management and Psychology
  • #1,706
  • Oct 27, 2009 11:04am Oct 27, 2009 11:04am
Quoting cignus
not perfect trend continuation pinbar, risky trade... on eurjpy TF15...
Short 136.72 with initial SL at 136,92.
Risky trade, so it must have higher TP, set it to 1.5R at 136.42 for 30pips...
move SL near entry 1 min before the news. TP reach in 1 second
nice trade. ok size pin with trend and of middle bb band.

i hesitated to pull the trigger on this one as i saw a potetial bounce of price pivot.

glad it turned out well for you.
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  • #1,707
  • Oct 27, 2009 11:04am Oct 27, 2009 11:04am
Redart,

Good pin-bar however you are trading into many bar lows just before the pinbar. If I took that trade and see price stalling for over a couple of bars...in this case five bars. I will go ahead and kill the trade and wait on the next one. That is just me though.
  • #1,708
  • Oct 27, 2009 11:16am Oct 27, 2009 11:16am
It was a good pin however I should not have taken it in the first place as was hidden div against the trend...Cheers

Quoting tarco
Redart,

Good pin-bar however you are trading into many bar lows just before the pinbar. If I took that trade and see price stalling for over a couple of bars...in this case five bars. I will go ahead and kill the trade and wait on the next one. That is just me though.
  • #1,709
  • Oct 27, 2009 11:50am Oct 27, 2009 11:50am
EUR USD 15min

CT trade , Div + Nice Pin

anybody advice on this trade?

Cheers
Winston
Attached Image (click to enlarge)
Click to Enlarge Name: eur usd 15min.gif Size: 14 KB
Trading is a delicate balance of Strategy , Money management and Psychology
  • #1,710
  • Oct 27, 2009 12:02pm Oct 27, 2009 12:02pm
A+ trade. m15 nice pin nice div, but it's still counter trend.
this happens sometimes.
Attached Image (click to enlarge)
Click to Enlarge Name: eu m15 27.10..gif Size: 19 KB
  • #1,711
  • Oct 27, 2009 12:05pm Oct 27, 2009 12:05pm
I did trade this one, it was good trade, he had
chances more than 50%.

(updated chart. I'm out now .This one was loser, but trend pinbar before was great ride )

Quoting oneuniverse
EUR USD 15min

CT trade , Div + Nice Pin

anybody advice on this trade?

Cheers
Winston
  • #1,712
  • Oct 27, 2009 12:06pm Oct 27, 2009 12:06pm
Quoting Jankone
A+ trade. m15 nice pin nice div, but it's still counter trend.
this happens sometimes.
Jankone, stop loss saved by icetip!
Trading is a delicate balance of Strategy , Money management and Psychology
  • #1,713
  • Oct 27, 2009 12:22pm Oct 27, 2009 12:22pm
I see 28 people online in there.


We rule !
  • #1,714
  • Oct 27, 2009 12:48pm Oct 27, 2009 12:48pm
Quoting Jankone
I see 28 people online in there.


We rule !
Yeah !

Perhaps it would be a good idea to gather and hunt good pinbar with modern way to exchange information, for those who are online at the same time...
Maybe with something as msn, icq, irc or so...

I know trading is a solo activity, but sometimes...

anyway, thanks Jankone for the thread.
  • #1,715
  • Oct 27, 2009 12:55pm Oct 27, 2009 12:55pm
Quoting cignus
Yeah !

Perhaps it would be a good idea to gather and hunt good pinbar with modern way to exchange information, for those who are online at the same time...
Maybe with something as msn, icq, irc or so...

I know trading is a solo activity, but sometimes...

anyway, thanks Jankone for the thread.
Wonderful suggestion! It works too.. been in other chat rooms w/ traders who provided support by talking about what they see on the charts..

Great idea.. hope something happens.

revrobwimb
  • #1,716
  • Oct 27, 2009 1:17pm Oct 27, 2009 1:17pm
I'm game - or skype even?

Quoting cignus
Yeah !

Perhaps it would be a good idea to gather and hunt good pinbar with modern way to exchange information, for those who are online at the same time...
Maybe with something as msn, icq, irc or so...

I know trading is a solo activity, but sometimes...

anyway, thanks Jankone for the thread.
  • #1,717
  • Oct 27, 2009 2:25pm Oct 27, 2009 2:25pm
AAA trade on the aud/usd. I like this thread.
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  • #1,718
  • Oct 27, 2009 8:19pm Oct 27, 2009 8:19pm
Quoting Jankone
I did trade this one, it was good trade, he had
chances more than 50%.

(updated chart. I'm out now .This one was loser, but trend pinbar before was great ride )
the only risk factor that you could have seen on this counter trend trade was that it was trading into the round number 1.48 and we know that price often reacts at round numbers..but these often punch through as well..so really..it is just one that lost
All that matters is winning the week
  • #1,719
  • Oct 27, 2009 10:25pm Oct 27, 2009 10:25pm
Quoting cignus
....
Need your advice on this :
My first stop loss was on the high of the pin bar, at about 10 pips from open position. To be profitable in LT, I should have had a TP about 2 times the SL, no ? Is it a good idea to move SL to BE when hit my first target price (on the TL) and wait for TP at 2R to be taken ? (R = Risk)
sorry for my late reply.

yes, u can do that.
i'm really not into R:R, i am flexible with profit-taking, i take what i can.
since we are trading small timeframes here, & small TF's tend to whipsaw very often, it would be best to exit with profit, rather than elect to move SL to BE. also, u can trade several positions to take advantage of possible extension of moves (price trends further than expected).
u can also view Jduester's post here.

just my view. hope this helps u..
  • #1,720
  • Edited 11:00pm Oct 27, 2009 10:36pm | Edited 11:00pm
USD / JPY 5min
with the trend trade was perfect one!
nice pin, downtrend and nice reverse divergence!

CT trade hit the stop loss

Jankone and other members, how many trend trades ( Pin Bar + Trend + Div )can be spoted in a month on 5min timeframe on 4 major pairs

Honestly, i am comfortable with the trend trades with perfect setups though they may occur few times!

Cheers
Winston
Attached Image (click to enlarge)
Click to Enlarge Name: usd jpy 5min with the trend.gif Size: 23 KB
Trading is a delicate balance of Strategy , Money management and Psychology
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