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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #1,761
  • Oct 29, 2009 10:51am Oct 29, 2009 10:51am
Quoting redart007
From my charts there isn't a div - so no trade...
Red

what we do when different terminals dont aggree for Divergence?
you are absolutely right that u did not take the trade
Trading is a delicate balance of Strategy , Money management and Psychology
  • #1,762
  • Oct 29, 2009 11:15am Oct 29, 2009 11:15am
Check your charts again, draw vertical line from the two price highs through the rsi and expand your RSI window (as it looks flattened in you original post) and double check...lets see...

Quoting oneuniverse
Red

what we do when different terminals dont aggree for Divergence?
you are absolutely right that u did not take the trade
  • #1,763
  • Oct 29, 2009 11:17am Oct 29, 2009 11:17am
Quoting Jduester
This was an ideal ct with divergence trade imo. My pb really sticks out above...my 2R on this one. (demo).

Josh


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 backtested several months of this strategy with various trade management scenarios. I didn't come up with any significant results however and have since abandoned it... just another idea that was tested and didn't have an edge...
At the end of the day, we know this strategy works... Why mess with anything else? Special thanks to Ryan and Jankone. Your posts are must reads for learning this trade strategy.

Josh
  • #1,764
  • Oct 29, 2009 11:19am Oct 29, 2009 11:19am
Quoting redart007
Check your charts again, draw vertical line from the two price highs through the rsi and expand your RSI window (as it looks flattened in you original post) and double check...lets see...

Yesssir
Trading is a delicate balance of Strategy , Money management and Psychology
  • #1,765
  • Edited 11:11pm Oct 29, 2009 10:49pm | Edited 11:11pm
This trade while i was in bed

Ryan and Jankone thank you very much for your simple and blasting methods,
You people deserve this
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Trading is a delicate balance of Strategy , Money management and Psychology
  • #1,766
  • Oct 30, 2009 12:50am Oct 30, 2009 12:50am
Stop loss hit and then run
Hit and run
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Trading is a delicate balance of Strategy , Money management and Psychology
  • #1,767
  • Oct 30, 2009 2:29am Oct 30, 2009 2:29am
USDJPY

With trend trade (or so I thought at the time LOL!)

nice setup but a stupid time to trade to be honest (around London open)

oh well lets move on to the next trade.

Tom
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  • #1,768
  • Oct 30, 2009 3:26am Oct 30, 2009 3:26am
Any of you M5 traders ever found that Friday wasnt as productive (or the setups as reliable) as mid week days?
All that matters is winning the week
  • #1,769
  • Oct 30, 2009 4:12am Oct 30, 2009 4:12am
divergence, pinbar and exit at resistance..i thougt it was a good one
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  • #1,770
  • Oct 30, 2009 4:26am Oct 30, 2009 4:26am
Quoting kojak
divergence, pinbar and exit at resistance..i thougt it was a good one
Kojak,

Nice one!!! missed it myself but good to see at least one of us got it!!



Tom
  • #1,771
  • Oct 30, 2009 4:26am Oct 30, 2009 4:26am
Quoting fat_tom
Kojak,

Nice one!!! missed it myself but good to see at least one of us got it!!



Tom
tx mate
  • #1,772
  • Oct 30, 2009 4:39am Oct 30, 2009 4:39am
I got this one for 14 pips! Nice pin+nice div.! Great trade! Love it
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  • #1,773
  • Oct 30, 2009 5:23am Oct 30, 2009 5:23am
Quoting brasilero
I got this one for 14 pips! Nice pin+nice div.! Great trade! Love it
i missed it buddy!
but it was great
Trading is a delicate balance of Strategy , Money management and Psychology
  • #1,774
  • Oct 30, 2009 5:28am Oct 30, 2009 5:28am
Quoting lindsayf
Any of you M5 traders ever found that Friday wasnt as productive (or the setups as reliable) as mid week days?
same question mate
Trading is a delicate balance of Strategy , Money management and Psychology
  • #1,775
  • Oct 30, 2009 5:51am Oct 30, 2009 5:51am
blue circle and blue line for CT trade done

Black circle for trend trade
let's see what happens
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Trading is a delicate balance of Strategy , Money management and Psychology
  • #1,776
  • Oct 30, 2009 5:51am Oct 30, 2009 5:51am
Quoting oneuniverse
same question mate
I've not paid much attention to that. I will say I don't take 5min trades after London close on Fridays. But that is generally because I wrap up my week at that point... there may or may not be good setups after that close.

I also don't take any 5min trades Sunday nights (until London Open Monday mornings)... But again, it's because I don't sit at my computer Sunday nights...

Josh
  • #1,777
  • Oct 30, 2009 5:55am Oct 30, 2009 5:55am
Quoting Jduester
I've not paid much attention to that. I will say I don't take 5min trades after London close on Fridays. But that is generally because I wrap up my week at that point... there may or may not be good setups after that close.

I also don't take any 5min trades Sunday nights (until London Open Monday mornings)... But again, it's because I don't sit at my computer Sunday nights...

Josh
thanxs buddy
Trading is a delicate balance of Strategy , Money management and Psychology
  • #1,778
  • Oct 30, 2009 6:21am Oct 30, 2009 6:21am
I lost on this one!Think it had everything to work out but... somtimes it doesent! It had a resistence at 1,48500! Maybe thats why it failed!
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  • #1,779
  • Oct 30, 2009 7:18am Oct 30, 2009 7:18am
Quoting brasilero
I lost on this one!Think it had everything to work out but... somtimes it doesent! It had a resistence at 1,48500! Maybe thats why it failed!
I took this too... full loss. The preceding bar was a pinbar (BEOB) in opposite direction... should have been a heads up (to me)...

Next...
  • #1,780
  • Oct 30, 2009 7:23am Oct 30, 2009 7:23am
Quoting brasilero
I lost on this one!Think it had everything to work out but... somtimes it doesent! It had a resistence at 1,48500! Maybe thats why it failed!

Brasilero

rather than trend, it was sideways move ( i did see it, but avoided )
neither trend nor CT

It's my view, correct if i am wrong
Trading is a delicate balance of Strategy , Money management and Psychology
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