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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #2,241
  • Dec 2, 2009 7:24am Dec 2, 2009 7:24am
If i take a trade and i get an opposing pin with the same size right after it i move the stop to right above that pin and leave it there. Most trades like that are failures, might as well cut em short!

Quoting faizal82
entered short on break of the pin yesterday.

ct with div.

would have been better if pin had larger nose but i took it. thought i could get 1:1.

stopped out for 16 pip loss. stop was 2 pips above top of pin.
  • #2,242
  • Dec 2, 2009 7:51am Dec 2, 2009 7:51am
Well, to be a purist so to speak, yes, you're right...

Be that as it may, I've been trading this method since long before the inception of this thread though and probably wont make those minor changes on my charts. I also don't use ema 21 since I use bollinger with default setting of sma 20 which serves my purpose well enough.

Quoting supremeChaos
Hi Dan,
from what i know it's 50sma, not 50ema.
the 21 is the ema.
  • #2,243
  • Dec 2, 2009 9:07am Dec 2, 2009 9:07am
Quoting dbeach777
Well, to be a purist so to speak, yes, you're right...
Be that as it may, I've been trading this method since long before the inception of this thread though..
No worries,
i was merely clarifying it for u (just in case) & the other readers of the thread.
So, are u using 2 Bolli's simultaneously or only BB20?

Cheers
  • #2,244
  • Dec 2, 2009 9:11am Dec 2, 2009 9:11am
I just use the 1 set, default BB20. See previous charts I've posted here.


Quoting supremeChaos
No worries,
i was merely clarifying it for u (just in case) & the other readers of the thread.
So, are u using 2 Bolli's simultaneously or only BB20?

Cheers
  • #2,245
  • Dec 2, 2009 9:39am Dec 2, 2009 9:39am
I lost on that too. It was a high probability trade for me with a double top, divergence and round number 5100 rejection.

I'm picky with CT trades but to me there were enough reasons as stated above to trade it. But on to the next one!

Quoting faizal82
entered short on break of the pin yesterday.

ct with div.

would have been better if pin had larger nose but i took it. thought i could get 1:1.

stopped out for 16 pip loss. stop was 2 pips above top of pin.
  • #2,246
  • Dec 2, 2009 9:56am Dec 2, 2009 9:56am
EU EEG

beta waves or gamma waves?

cheers
Winston
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Trading is a delicate balance of Strategy , Money management and Psychology
  • #2,247
  • Dec 2, 2009 10:23am Dec 2, 2009 10:23am
Quoting Razorman
If i take a trade and i get an opposing pin with the same size right after it i move the stop to right above that pin and leave it there. Most trades like that are failures, might as well cut em short!
hmm..food for thought. i dont do that on my higher tf trading but perhaps i should consider implementing that into my strategy for 5m and 15m tf's.

thanks for your comments.
  • #2,248
  • Dec 2, 2009 12:43pm Dec 2, 2009 12:43pm
after a few days , I bring to our lands (pages) new fresh trades.
Last days was crazy a little driven by fundies. I stay away usually these days. but today it was a good day.
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  • #2,249
  • Dec 2, 2009 1:16pm Dec 2, 2009 1:16pm
Quoting Jankone
after a few days , I bring to our lands (pages) new fresh trades.
Last days was crazy a little driven by fundies. I stay away usually these days. but today it was a good day.
I was waiting and waiting for the usd crosses to put up the pinbar, but went to grab a bite to eat and son of a gun it put down one. The E/U was a bit sketchy, it had the nice pullback you look for but was low on divergence and the previous bar gapped. Still would've been a nice 3:1 R/R.
  • #2,250
  • Dec 3, 2009 3:58am Dec 3, 2009 3:58am
I was jumping in this if we got DIV, but we didn't... so next...
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  • #2,251
  • Dec 3, 2009 5:44am Dec 3, 2009 5:44am
First entry was a fudge entry (read 'against my rules'). I made intra trade decisions ....which mostly cause me losses or lost profits and this was no exception..It made my 1R TP but I had decided to go for 2R.. I then decided it had reversed on me and moved to BE only to be stopped out. Not quite sure how long it is going to take me to have faith in my rules, not take invalid entries and then just let them play out without interfereing. I was clearly not mentally prepared to begin trading when I started just befor Europe open today.

Second trade made my TP of +1R.
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All that matters is winning the week
  • #2,252
  • Dec 3, 2009 6:13am Dec 3, 2009 6:13am
I like the DIV, and thought of double bottom. But we can get a better looking pin right? Would also be better if we were taking it off of the daily open perhaps... or even better - a round number.
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  • #2,253
  • Dec 3, 2009 6:21am Dec 3, 2009 6:21am
Quoting lindsayf
First entry was a fudge entry (read 'against my rules')....
Hey Lindsay,
This is something I'm working on nowadays too. I know this method works and I have confidence in it. The problem is that I haven't been picky enough. I get feelings that I have to be trading to be 'working', when every successful trader will tell you, we get paid to sit and wait. It's tough to come to grips with that psychologically, but it is necessary imo to become profitable long term. Additionally, I've caught myself measuring my success and progress on a per trade or per day results. This is just foolish. It takes time to develop good experience with anything, why would trading be any different. It isn't something we can rush. But if we follow our rules this hour, then this hour was successful. If we follow our rules next hour, then that one is successful... put 8-12 together and now we've had a successful day. Over the long haul, this method's edge will come through, making us profitable.

Just my 2 on this tough topic. I'm eager to hear any comments Mike W, Jankone, or Ryan might have on this subject, if they are willing of course. You guys have broken through that barrier to profitability... With enough determination, perseverance, experience, patience, and discipline, I will too.

Josh
  • #2,254
  • Dec 3, 2009 6:21am Dec 3, 2009 6:21am
also contemplated that one..just didnt have enough going for it. But the trend pin 10 bars back was very nice! I missed it.
All that matters is winning the week
  • #2,255
  • Dec 3, 2009 6:27am Dec 3, 2009 6:27am
Quoting Jduester
Hey Lindsay,
This is something I'm working on nowadays too....
Thanks Josh..yes I am in the middle of a battle with myself...it is so clear that it is my psycholgical behaviour that is the big barrier for me. Until recently I have been searching and learning and now I trade a couple of methods that I have no doubt are profitable IF I trade well and consistently. However I am able to lose money with them..because of my inconsistency. At least the enemy is very clear to me now. Ryan has touched on this quite abit in various posts...rationally I know about probabilities and the irrelevance of an individual trade..I need to get that belief deeper into my psyche as often a loss will disturb my discipline. And as you say, it is not about trading, it is about waiting for setups that meet your criteria and them managing them according to your plan. I did that well for the last 2 weeks of November and have started this month of poorly in that regard.
All that matters is winning the week
  • #2,256
  • Dec 3, 2009 8:13am Dec 3, 2009 8:13am
I considered this one, but didn't take it because it's been running flat (box) and is off the mid-bb (a deadly combination)...

Hope it works for you, if you are in it though.

Josh
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  • #2,257
  • Dec 3, 2009 8:56am Dec 3, 2009 8:56am
anyone take this? didn't close as a pin, so no go.
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  • #2,258
  • Dec 3, 2009 11:49am Dec 3, 2009 11:49am
today GU m5
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  • #2,259
  • Dec 3, 2009 5:42pm Dec 3, 2009 5:42pm
don't know if it's the correct thread (only m5?), but i believe there is a nice ct div pinbar at EU daily
  • #2,260
  • Dec 4, 2009 1:23am Dec 4, 2009 1:23am
Quoting xeqter
don't know if it's the correct thread (only m5?), but i believe there is a nice ct div pinbar at EU daily
preferably, M5 &/or M15 are posted here.

also, it helps to clarify by indicating which broker u are basing your posts on.
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