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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #1,721
  • Oct 28, 2009 3:29am Oct 28, 2009 3:29am
Quoting oneuniverse
USD / JPY 5min
[
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
This is different for everyone. There are some trades you'll take that I won't. There are some times you'll trade that I won't. Do three months of testing on trading it and see how many you come up with. It's not about how many trades we take. It's about how many good trades we take and more importantly, how many poor trades we avoid.
I'm guessing you were just curious, but it's a question that cannot be rationally answered.

Josh
  • #1,722
  • Oct 28, 2009 3:52am Oct 28, 2009 3:52am
Quoting Jduester
This is different for everyone...
I agree.
No single answer for this.

Furthermore, it depends on the time u allot for trading/monitoring charts.
also, PA setups/formations differ for every broker on different timezones. that is, a PB on broker A can be non-existent in broker B.
  • #1,723
  • Oct 28, 2009 4:12am Oct 28, 2009 4:12am
Quoting oneuniverse
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...
As far as I understand, your second circled setup (the CT one) should not have been triggered, since the price did not move back to the inner end of the pinbar.
  • #1,724
  • Oct 28, 2009 4:17am Oct 28, 2009 4:17am
Quoting Jduester
It's about how many good trades we take and more importantly, how many poor trades we avoid.
Josh
so how many good trend trades can be taken in a month, i mean not exact number , but rough numbers

why this is important?

If my risk is fixed 1% per trade and TP is 2%
Now if i have

total 10 trades in a month
then my return would be 5*2-5*1 = 5% ( assuming 50% expectancy
which is very conservative )


Now if i have
total 20 trades in a month
then my return would be 10*2 -10*1 = 10% ( assuming 50% expectancy
which is very conservative)

So for my moneymanagement style, number of quality trades will surely matter

Any suggestions welcome!

Cheers
Winston
Trading is a delicate balance of Strategy , Money management and Psychology
  • #1,725
  • Oct 28, 2009 4:24am Oct 28, 2009 4:24am
Quoting kk007
As far as I understand, your second circled setup (the CT one) should not have been triggered, since the price did not move back to the inner end of the pinbar.
can you please explain with chart?
Trading is a delicate balance of Strategy , Money management and Psychology
  • #1,726
  • Oct 28, 2009 4:44am Oct 28, 2009 4:44am
Took this one for a 10 tick win

I need to learn how to hold them..this one had legs..as gold can do.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_07 Oct. 28 20.40.jpg Size: 202 KB
All that matters is winning the week
  • #1,727
  • Oct 28, 2009 4:55am Oct 28, 2009 4:55am
2 trades - a loser and a winner
I have been looking at inside bars for low risk entries. This one failed. But a pin immediately set up, and with the round number helping me I took a 4 tick risk for 10 tick win. Playing the pin would have worked anyway....Again..I need to learn how to hold. 2 out of 3 for me tonight (in Australia).

Appreciate any feedback!
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_08 Oct. 28 20.50.jpg Size: 186 KB
All that matters is winning the week
  • #1,728
  • Oct 28, 2009 6:34am Oct 28, 2009 6:34am
Short pin with div and trend.

first trade of the week so far (mega busy at work)

full 2R on this one so a nice 4% on the acct!

Tom
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_28_10_2009.JPG Size: 36 KB
  • #1,729
  • Oct 28, 2009 7:05am Oct 28, 2009 7:05am
you did well to hold through the retrace on that..
All that matters is winning the week
  • #1,730
  • Oct 28, 2009 7:10am Oct 28, 2009 7:10am
Quoting fat_tom
Short pin with div and trend.

first trade of the week so far (mega busy at work)

full 2R on this one so a nice 4% on the acct!

Tom
Took this for 2R also... didn't hurt that it was off 1.48

Josh
  • #1,731
  • Oct 28, 2009 8:21am Oct 28, 2009 8:21am
Quoting lindsayf
you did well to hold through the retrace on that..
lindsayf,

I'm finally getting to the point that I don't really care if a trade retraces or not... many do and come good and many do and go bad. Its never about 1 trade its about 100's.. my back testing shows an approximate 45% win rate with a 2:1R to me thats more than acceptable and a profitable method..

Now don't get me wrong I'm happy to see my win rate increase but I don't want to get an 80% win rate if I'm only taking 10% of the number of trades... so I'm looking to cut the obvious loosers (SCPB lol!!) but I'm not chasing high win rates anymore... In the past I have had a real fear of loosing now not so much anymore - Its made my trading a lot less streesful than it used to be as like I said the focus is not on the trade but on the bigger picture.

I am beginning to feel like I am finally getting somewhere at this game. Still not quite at the put on a trade and don't care wether it wins or looses but not far off....

Tom
  • #1,732
  • Oct 28, 2009 8:35am Oct 28, 2009 8:35am
fat tom you are further down that road than I am...harder road than I'd thought. thanks for that reply
All that matters is winning the week
  • #1,733
  • Oct 28, 2009 8:45am Oct 28, 2009 8:45am
Quoting fat_tom
Short pin with div and trend.

first trade of the week so far (mega busy at work)

full 2R on this one so a nice 4% on the acct!

Tom
nice trade! i missed this one. nice break out down through 1.4800 and then pull back with a pin. sweet.
  • #1,734
  • Oct 28, 2009 9:12am Oct 28, 2009 9:12am
Quoting fat_tom
lindsayf,

I'm finally getting to the point that I don't really care if a trade retraces or not... many do and come good and many do and go bad....
Good stuff FT. Very similar results as myself. moving to b/e at 1R cut off too many trades for me.
  • #1,735
  • Oct 28, 2009 9:27am Oct 28, 2009 9:27am
this is a trade would you take?

USDCAD 5 min. I did not take this.
Attached Image
  • #1,736
  • Oct 28, 2009 9:55am Oct 28, 2009 9:55am
definetely no.

Quoting giraia_br
this is a trade would you take?

USDCAD 5 min. I did not take this.
  • #1,737
  • Oct 28, 2009 9:57am Oct 28, 2009 9:57am
Quoting giraia_br
this is a trade would you take?

USDCAD 5 min. I did not take this.
Also, please zoom your chart out in the future... you can't see any information just looking at 25 bars.
  • #1,738
  • Oct 28, 2009 10:08am Oct 28, 2009 10:08am
Quoting oneuniverse
so how many good trend trades can be taken in a month, i mean not exact number , but rough numbers

why this is important?

If my risk is fixed 1% per trade and TP is 2%
Now if i have

total 10 trades in a month
then my return would be 5*2-5*1 = 5% ( assuming 50% expectancy
which is very conservative )


Now if i have
total 20 trades in a month
then my return would be 10*2 -10*1 = 10% ( assuming 50% expectancy
which is very conservative)

So for my moneymanagement style, number of quality trades will surely matter

Any suggestions...

Seniors , please reply
correct if i am wrong!
Trading is a delicate balance of Strategy , Money management and Psychology
  • #1,739
  • Oct 28, 2009 10:13am Oct 28, 2009 10:13am
One,

why do you have a monthly target?? wont that put unneeded pressure on??

i take it trade by trade, 1% risk every single time, the results will take care of themselves...

if you have to have a target, try targetting taking every single A + set up...

just my 10 cents

Many pips to you all

Grant
  • #1,740
  • Oct 28, 2009 10:27am Oct 28, 2009 10:27am
Quoting grant18265
One,

why do you have a monthly target?? wont that put unneeded pressure on??

i take it trade by trade, 1% risk every single time, the results will take care of themselves...

if you have to have a target, try targetting taking every single A + set up...

just my 10 cents

Many pips to you all

Grant
thanks for your valuable inputs,
just was curious to know it!

Cheers
Winston
Trading is a delicate balance of Strategy , Money management and Psychology
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