Jankone M5 thread

Same, the way the big candle changed the direction was like a mini news event lol

In again SL of 10+spread this time, ideally should be at the top of the last 15m pin? What ya think

Your shorting into support - yesterdays low...

Thanks yeah, I see the double bottom pointing up

Anyone else finding this very interesting? Definite pressure from above

Location is OK, but no div.

Took me out too. Oh well. One trade in thousands. Next.

Hi, very nice thread...
Are there any exact rules written by anyone somewhere? Would be nice if some of you guys (admin or the trade posters) make some instructional videos or something like that. I am watching this thread for some time and this is my first post. What do you think?

GodPips...

I think Jankone feels the pictures are enough, from there it's easy to learn yourself by studying charts for the setups. When your eye gets accustomed to them you will see that they scream out to you when you look over history, then practice waiting for live setups

Going to pass on this one, want to see a good setup off the BB with RSI divergence.

Yep at least you know it's a numbers game too, As long as you gain monthly who cares about what happens on a 1-1 day timeframe.

Good on you, I averaged from the top out of lack of discipline, nearly at BE lets see how it works

Anyone who is trading this method, I seriously recommend reading every single one of RyanMcd's post history again and again and again. And study his charts. I've been through them all over 30 times, still go through them again. Just went through this morning and saw four or five things that even after all that time I had missed.

The rewards to this business are unlimited if we put in the work.

Best advice possible. It seems that people underestimate the power of learning. I've done the same, gonna do it again today, and go through chart history today again just like I did last night. If you don't feel that you are able to do that simple of a task, then this business isn't suited towards you. Just like Ryan did years back, you gotta sacrifice if you want to see greatness.

I have been lookign back thorugh a lot of chart and was wondering if any of you play outside bars besides pin bars? Anyone did the number crunching on those?

Amen. I just got done going through this week's printed charts on the 5M. Going to do it every week and keep them in a file.

Ryan printed 7-9 years worth of 3M charts out and kept them in a closet.

The weird thing is, it seems that this business appeals to those who want to get rich quick. Nothing particularly wrong with that and if we're honest I think most of us had a feeling coming in that this would be easier than it turned out to be. So having that feeling/thought isn't wrong. But then realising the amount of work involved the bug either grabs you or it doesn't. Personally it grabbed me and there's nothing I'd rather do with my time than chart work. Is that sad? Maybe, but I make sure I have a life outside too.

But I think everyone I know who made it, at some stage just got obsessed. Like Russell Crowe in A Beautiful Mind...lol. I don't know anyone, not a one, who thought "I'll give this trading thing a go" and then boom within a month they were printing money (well maybe benji over on J16 but that kid is a freak of nature)

It stopped being about the money long ago for me. It's like a computer game or a puzzle or a Rubik's Cube or something. Being able to crack this thing and succeed at it became an obsession.

I know it probably all sounds really unhealthy but that's the way it's been with me. It doesn't feel unhealthy because I make sure I eat well, sleep well and meditate every day. On days that I don't I trade like an idiot. Go figure.

I think there's also a big difference between trading as a side hobby and trading to support yourself, or at least having the goal of trading to support yourself. Everyone has a different way in to the market. But regardless it just takes time time time. Mbqb11, one the best traders on FF or anywehre else for that matter, has been at this 7 years. Took him 3-4 to become profitable.

3-4 years.

How much time and effort are you willing to put in to make this happen?

If the answer is anything less than 'whatever it takes' then walk away. Ryan will be only too happy to take your money.

Weekend rant/ramble. Thanks for indulging me.

I've been watching them. They seem to have a bigger stop size so need a bigger move. Personally I think Jankone's two setups with pins is enough to make anyone very profitable. Until I have 6 months or so under my belt of 60-70%+ winrate on those I won't look at anything else.

I think one of the killers of accounts is to look at something new before the thing you've got in front of you is working. (not directed at you Razorman, I've no idea where you are in the curve)

Ye outside bars seem to be bigger stop loss. When you trade a pin bar do u take the bar only if the open and close is inside the previous bar? the j16 definition basically?

Nope. Tail and divergence is more important to me. But I don't get too cute with this. If a 7 pip bar has a close outside the previous bar by a pip or two then...well it can become the exact opposite of a pinbar.

Go back over a month of 5M charts on the EU and see what worked and what didn't. That'll answer your question more than I ever could and it'll imprint good setups on your memory.

what i still have difficult is finding a coherent way to set SL and TP. Not win rate enough to 1:1 and not pips enough to 1:1.5, 1:2, etc. Only me?