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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #2,421
  • Dec 16, 2009 11:24am Dec 16, 2009 11:24am
I have no idea why, but I missed that too, and so far it would've paid off nicely! Live and Learn!

Quoting sir6
Just missed this one too
  • #2,422
  • Dec 16, 2009 12:46pm Dec 16, 2009 12:46pm
Quoting sir6
Just missed this one too
you also missed the previous one, which was of better form and didn't pay off. these after the fact charts are tricky!
  • #2,423
  • Dec 16, 2009 1:05pm Dec 16, 2009 1:05pm
Quoting judith
you also missed the previous one, which was of better form and didn't pay off. these after the fact charts are tricky!
lol thanks for pointing that out Judith. Other than the fact I was still in bed when the first setup happened and would have missed it completely. I would have cancelled the trade due to the fact it never triggered. I like to enter on the break of the pb and in this case it never happened on my feed. I do agree with you that the first one had the better form, but the 2nd one had better location, and personally I put more value on location than form. Just my opinion.

oh and yes....these after the face trades are tricky, they mess with your psychology if you're not careful.
  • #2,424
  • Dec 16, 2009 2:48pm Dec 16, 2009 2:48pm
Hey... my words " universal pt = ema21 "

good job anyway...

Quoting Kakyn
Hit universal PT level at EMA 21 and bounce back.

The market really follow the rules
  • #2,425
  • Dec 16, 2009 3:44pm Dec 16, 2009 3:44pm
Quoting sir6
Hey Jduester, would you say this one was riding the BB rails? I've been burned a couple of times with them and I remember you posting about it a few days back. To me it looks like it could be riding the rails, would you mind clarifying why this would be a good setup? Thanks!
Compare the price riding the rails on the previous swing high to the current swing high. In the latter, we only have to bars that touch/ride the rail and then the pinbar. When we only have a few bars doing this, and then a pin, I'm more inclined to take the setup. If we had got a pin on that previous swing high (where my DIV line started), then it would be a riskier entry, since we were riding the rail for many bars prior.

As with everything, this is an experience thing, of which I'm still gaining. Supreme Chaos has some good posts on riding the bb's you might look at. They are located in this thread.

Hope this helps.

Josh
  • #2,426
  • Dec 16, 2009 3:46pm Dec 16, 2009 3:46pm
Quoting judith
you also missed the previous one, which was of better form and didn't pay off. these after the fact charts are tricky!
I took both. First one lost some. Second one won twice as much.
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  • #2,427
  • Dec 16, 2009 8:56pm Dec 16, 2009 8:56pm
Quoting Jduester
I took both. First one lost some. Second one won twice as much.
May I ask.. why your first pinbar entry get trigger at all? Do you enter at 1 pip below the low of the first pinbar?

Cheers
  • #2,428
  • Dec 16, 2009 10:20pm Dec 16, 2009 10:20pm
That pin in the blue zone also was a valid trade no?
  • #2,429
  • Edited 10:49pm Dec 16, 2009 10:37pm | Edited 10:49pm
Quoting Razorman
That pin in the blue zone also was a valid trade no?
good eye, that's a quality pin. Only issue might have been what spreads were after FOMC.
  • #2,430
  • Dec 17, 2009 2:54am Dec 17, 2009 2:54am
Quoting judith
you also missed the previous one, which was of better form and didn't pay off. these after the fact charts are tricky!
u mean the 'big' PB (the 5th candle prior the PB sir6 pointed out)?
everyone trades differently, but just to point out this PB seem to have not been triggered (looking exclusively at that chart).

plus, before the fact, it was near the upsloping mid-BB... & the 21ema & 50sma were upsloping as well. the BB was quite tight though, potentially signaling an impending consolidation or substantial move/breakout coming.
  • #2,431
  • Dec 17, 2009 2:55am Dec 17, 2009 2:55am
Quoting Razorman
That pin in the blue zone also was a valid trade no?
u mean the 3rd candle (PB) from the right?
before the fact, we might've looked at this as a small PB prior a large bearish candle.
  • #2,432
  • Dec 17, 2009 3:56am Dec 17, 2009 3:56am
Quoting kk007
May I ask.. why your first pinbar entry get trigger at all? Do you enter at 1 pip below the low of the first pinbar?

Cheers
I enter on close. The break of pinbars has much less (if any?) significance psychologically on this timeframe compared to it forming on a higher tf. There are other posts discussing this topic in this thread... it's all here.

The pin in the blue ppz off 1.63 is a good looking pin, with DIV. But I was not around to see it realtime.

Wish I'd held that second pin off 1.64 though... 25+ R. Must work on managing risk first, then work to become profitable. And only then worry about maximizing profits. Just my 2.

Josh
  • #2,433
  • Dec 17, 2009 4:03am Dec 17, 2009 4:03am
Quoting supremeChaos
...plus, before the fact, it was near the upsloping mid-BB... & the 21ema & 50sma were upsloping as well. the BB was quite tight though, potentially signaling an impending consolidation or substantial move/breakout coming.


Good point SC. I realized this after it failed. Jankone mentioned this to me last week. I'm a slow learner though... (ie - the idea of entering so close to the midBB). Could have worked nicely. Could have been a pass for several reasons too. Another reason for a pass - it didn't break/fail 1.64. Price normally does actually test/break the round number or PPZ and then fails it, signalling an entry. Those pins that approach but don't break/test/fail the RN/PPZ seem to fail more often.

Something to keep an eye on...

Josh
  • #2,434
  • Dec 17, 2009 4:30am Dec 17, 2009 4:30am
Cheers. Thanks for answering.

Quoting Jduester
I enter on close. The break of pinbars has much less (if any?) significance psychologically on this timeframe compared to it forming on a higher tf. There are other posts discussing this topic in this thread... it's all here.

The pin in the blue ppz off 1.63 is a good looking pin, with DIV. But I was not around to see it realtime.

Wish I'd held that second pin off 1.64 though... 25+ R. Must work on managing risk first, then work to become profitable. And only then worry about maximizing profits. Just my 2.

Josh
  • #2,435
  • Dec 17, 2009 5:24am Dec 17, 2009 5:24am
Quoting sir6
Just missed this one too... (chart: "CT trade off round # & div")
People,
just had a look at higher TF charts...
if u look at H1-weekly charts, this is actually a trend trade
consulting higher TFs (M30-Daily, your choice) gives u a better perspective even as u trade this small TF.
  • #2,436
  • Dec 17, 2009 6:06am Dec 17, 2009 6:06am
I baled on these after they didn't do anything for 5-10 bars. I feel there is no point to stay in a trade when the momentum from the trigger bar has already played out (or not played out in these cases...)

However, this is something I still test on every trade and may change at some point...
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  • #2,437
  • Dec 17, 2009 7:37am Dec 17, 2009 7:37am
looks good to me.
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  • #2,438
  • Dec 17, 2009 7:54am Dec 17, 2009 7:54am
Josh..nice looking pin..not sure about it overall though ..price has just put in a higher low...it reminds me of a trade I took a few weeks back.
All that matters is winning the week
  • #2,439
  • Dec 17, 2009 8:00am Dec 17, 2009 8:00am
Quoting lindsayf
...not sure about it overall though ..price has just put in a higher low...it reminds me of a trade I took a few weeks back.
probably wants to range at/revisit 1.4370-80ish area (H1 minor PPZ) before going down.
just my imagination... let's see.
  • #2,440
  • Dec 17, 2009 8:02am Dec 17, 2009 8:02am
Quoting lindsayf
Josh..nice looking pin..not sure about it overall though ..price has just put in a higher low...it reminds me of a trade I took a few weeks back.
It appears you are right good sir

I actually missed it, but was thinking it was pretty darn good. There was room for 10-15 pips for those that actively manage trades to get out at the previous lows...
Would have been b/e for me. Looking like we're back to chop chop.
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