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James16+Rayanmcd(Jan kone) and ME 7 replies

Attachments: Jankone M5 thread
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Jankone M5 thread

Quoting lindsayf
entering on the break of the pin saved me a loss on this one...
on reflection it was a risky setup as price has put in several higher highs and entry is right into a ppz.
& a round number.

also, ideally, just like in higher TF trading, u want PA setups (for shorting) on swing highs.
& in this case, ideally u want that pinbar near the midBB, not near the outer BB (lower BB in this case).
Quoting lindsayf
...as you can guess the social life has suffered somewhat..
But the hours spent watching the screen and dealing with the psychological demons has been time well spent I believe.
..
that's natural.
to me, that's a small price to pay for us to experience time freedom earlier/much faster.
we try to make use of our time wisely, now, to free up more time in the future.

Quote
....so bring on Xmas, family and the Victorian alps!
Victorian alps?
for vacation or for trekking/climbing?

Happy Holidays too u too!
I woke up this morning to find a wider spreads in the majors (Oanda, no news)... to me this is an easy obvious signal that the liquidity is leaving the markets in lieu of the holiday and year end... And so, it's valid justification to call it year and close the books.

Careful out there if you intend to trade in the coming days... Use your rifle and store your shotgun.

Josh
so SC..would you hesitate to take a trade that was 15 pips from a round number like this one? I agree the pin was not centrally located within the BB and that would be preferable. I saw the RN as a TP as it would have given about 1:1..
L


PS: yes..trekking, fishing, 4 wheel driving, camping ---as long as there are no bushfires around this season
All that matters is winning the week
Quoting lindsayf
so SC..would you hesitate to take a trade that was 15 pips from a round number like this one?...
like many trading situations, it depends.
(trading into) a round number is just 1 consideration.
u & i have mentioned the other factors specific to this trade.

there is a recent fairly similar situation, see Sir Josh's post here (to which i replied).

from what i noticed, price breaches a round number (or a PPZ, S/R) with conviction if it really has momentum. other times, price stops a few pips (0.xx/1 - 30 pips) before a round number & reverses temporarily (only for a few minutes or hours) or 'less-temporarily' (several more hours). in the latter, price gets more/enough sellers (or enough buyers, in your trade's case) near the round number.

Hope this helps
Quoting Jduester
I woke up this morning to find wider spreads in the majors (Oanda, no news)... to me this is an easy obvious signal that the liquidity is leaving the markets in lieu of the holiday and year end... And so, it's valid justification to call it year and close the books. ....
Thanks Josh,
i was looking for reasons (when) to stop trading (if i were trading) particularly at this holiday season.
somehow i forgot about this.
Quoting lindsayf
You mean this one....it went very well. December has been a good month for me.
Yes...looks much better on your feed. I like your brown PPZ areas marked, good target areas.
Quoting supremeChaos
for clarity, is it safe to say that from hereon u will post charts with RSI (applied) on HIGH instead of the 'usual' RSI on CLOSE?

Thanks!
Er, yes as I don't use close. If I post charts in future I'll just post either with trend (i.e. no divergence) or CT trades where RSI Close shows divergence rather than high/low extremes...in order to not confuse people.
Quoting lovejoy80
...If I post charts in future I'll just post either with trend (i.e. no divergence) or CT trades where RSI Close shows divergence rather than high/low extremes...in order to not confuse people.
no need for that, really, as that post will take care of it & remind people about it..
but if u have extra time & can accommodate a few changes in your charts prior to posting here, then that would be great & appreciated by all.
Yep will do.

Taken any trades today? I'm not trading until next week now so haven't looked at the 5min charts today...
Quoting lovejoy80
..
Taken any trades today?...
None since mid-/late November. i recently moved to a different residence... then the holidays came.
probably early/mid-January..
hi
market is trending nicely this month so many green pips to grab .
regard
samer
Quoting supremeChaos
None since mid-/late November. i recently moved to a different residence... then the holidays came.
probably early/mid-January..
I couldn't resist taking this...wasn't actually looking to trade just doing some R&D, but it stood out too much! Made 1.4R

(note divergence is based on comparison of low of price compared to RSI set at low rather than the traditional close of both)
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Hi Jankone,

I'm reading through the thread and enjoying all your comments. Just wanted to show my appreciation for all your efforts. Fingers crossed I'll be up to speed with the thread by Jan '10

Cheers,
Josh, I read sometime ago that you did backtests and you were successful with 2R ratio. Could you tell me please did you use original Jankone rules or you traded just what looked good to you (meaning others candles formation, not only Pin bars).
I am asking this because, I am doing manual backtests for last 3 weeks and so far 2R gives me only break even results. It looks like 1R actually more profitable.
Quoting Jduester
I woke up this morning to find a wider spreads in the majors (Oanda, no news)... to me this is an easy obvious signal that the liquidity is leaving the markets in lieu of the holiday and year end... And so, it's valid justification to call it year and close the books.

Careful out there if you intend to trade in the coming days... Use your rifle and store your shotgun.

Josh
"Every battle is won before it is ever fought." - Sun-tzu, The Art of War.
Quoting samer960
hi
market is trending nicely this month so many green pips to grab .
...
Greetings samer,
are u trying to make me envious
Glad u made some green pips this month
Quoting Andy12
Josh, I read sometime ago that you did backtests and you were successful with 2R ratio. Could you tell me...
I am asking this because, I am doing manual backtests for last 3 weeks and so far 2R gives me only break even results. It looks like 1R actually more profitable.
u backtested the last 3 weeks?
i believe Josh backtested for 2 months (September & October). his results were generously posted here.
i think it would be best if u backtest on the same months he did & the same broker he used (FXPro), to at least arrive at a similar result. December may have been a different/difficult month to trade & test.

i'll take this as an exercise & do it too sometime this/next week.
  • Post #2,518
  • Quote
  • Edited Dec 23, 2009 12:15am Dec 22, 2009 11:55pm | Edited Dec 23, 2009 12:15am
SupremeChaos, I backtested Jan, Feb, March 2009 year so far, also only on M5 EUR/USD. Thanks for point out to Josh post. It is all comes down to what pins he avoided and what he traded. I guess, this is will be impossible to explain unfortunately. I read all this thread, all Rayan staff, I still missing something.
Quoting supremeChaos
u backtested the last 3 weeks?
i believe Josh backtested for 2 months (September & October). his results were generously posted here.
i think it would be best if u backtest on the same months he did & the same broker he used (FXPro), to at least arrive at a similar result. December may have been a different/difficult month to trade & test.

i'll take this as an exercise & do it too sometime this/next week.
"Every battle is won before it is ever fought." - Sun-tzu, The Art of War.
Quoting Andy12
...I backtested Jan, Feb, March 2009 year so far, also only on M5 EUR/USD. Thanks for point out to Josh post. It is all comes down to what pins he avoided and what he traded. I guess, this is will be impossible to explain unfortunately. ...
i see.
maybe u can try backtesting Sept & October to see first if u'll arrive at the same results as his. i feel we'll all arrive at the same result, more or less, once we've grasped this material at a certain level. (i remember Jigsaw concurred with Jduester/Josh's backtest results)

Quote
I still missing something
still missing what?
if we cant help, then it must be your own A-HA moment.
if this is the case, dont worry, it will come sooner or later.
Thank you SupremeChaos you are very helpful and pleasant person. I will try to backtest September and October next and see what I come up with, and definetly I will post results here.
A-HA moment did not came to me for some reason yet. But that is OK.
Quoting supremeChaos
i see.
maybe u can try backtesting Sept & October to see first if u'll arrive at the same results as his. i feel we'll all arrive at the same result, more or less, once we've grasped this material at a certain level. (i remember Jigsaw concurred with Jduester/Josh's backtest results)


still missing what?
if we cant help, then it must be your own A-HA moment.
if this is the case, dont worry, it will come sooner or later.
"Every battle is won before it is ever fought." - Sun-tzu, The Art of War.
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