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James16+Rayanmcd(Jan kone) and ME 7 replies

Attachments: Jankone M5 thread
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Jankone M5 thread

  • #2,601
  • Jan 7, 2010 3:19am Jan 7, 2010 3:19am
sorry Winston..timezone dementia
All that matters is winning the week
  • #2,602
  • Jan 7, 2010 4:29am Jan 7, 2010 4:29am
1R win on GU. I took the previous pin as well but out at BE on that one...faked out again.

I generally take 1R wins except in certain circumstances.
Attached Image (click to enlarge)
Click to Enlarge Name: gu3.gif Size: 30 KB
All that matters is winning the week
  • #2,603
  • Jan 7, 2010 6:59am Jan 7, 2010 6:59am
Quoting oneuniverse
Happy new year to everybody!
Here is a chart of IBM M5...
Great... keep them coming Winston!
& Happy new year!
  • #2,604
  • Jan 7, 2010 7:03am Jan 7, 2010 7:03am
Hi SC

your encouragement is much appreciated as always!

will be posting many more charts from diverse markets if Jankone permits so that the integrity of the thread is maintained

Cheers
Winston
Trading is a delicate balance of Strategy , Money management and Psychology
  • #2,605
  • Jan 7, 2010 10:34am Jan 7, 2010 10:34am
morning everybody!

the IBM setup on 5min failed on the opening itself

However look the IBM 30min below

nice pin
very nice div
trend retracement
off round number

this 30min IBM seems working quite well

note - i am attaching the stock chart for the universality of Jankone setups cauz personally traded them on many markets on many time frames.

Any feedback welcome!
Cheers
Winston
Attached Image (click to enlarge)
Click to Enlarge Name: ibm 30min.png Size: 41 KB
Trading is a delicate balance of Strategy , Money management and Psychology
  • #2,606
  • Jan 7, 2010 11:53am Jan 7, 2010 11:53am
previous gap too
  • #2,607
  • Jan 8, 2010 2:07am Jan 8, 2010 2:07am
Quoting oneuniverse
...IBM 30min below
nice pin
very nice div
trend retracement
off round number..
i like the fact u specifically mentioned "trend retracement".
130 turned out to be a nice PPZ/target area. (did price push further above it?)

Hopefully these kinds of charts are ok with jankone
  • #2,608
  • Jan 8, 2010 7:01am Jan 8, 2010 7:01am
Here is GBP CHF

GBP CHF H1 PPZ resistance and down trend

GBP CHF M5 CT trade
Very nice pin
Ok Div
the bar prior to Pin bar is not bullish bar or Tall Candle
Range of Pin exceeds the previous bar's range

Cheers
Winston
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbp chf h1.gif Size: 38 KB
Click to Enlarge Name: gbp chf m5.gif Size: 30 KB
Trading is a delicate balance of Strategy , Money management and Psychology
  • #2,609
  • Jan 8, 2010 7:39am Jan 8, 2010 7:39am
Quoting oneuniverse
Here is GBP CHF

GBP CHF H1 PPZ resistance and down trend

GBP CHF M5 CT trade
Very nice pin
Ok Div
the bar prior to Pin bar is not bullish bar or Tall Candle
Range of Pin exceeds the previous bar's range

Cheers
Winston

Update

Exit planned near PPZ zone
Attached Image (click to enlarge)
Click to Enlarge Name: 1gbp chf m5.gif Size: 36 KB
Trading is a delicate balance of Strategy , Money management and Psychology
  • #2,610
  • Jan 8, 2010 8:00am Jan 8, 2010 8:00am
really good work Winston!
All that matters is winning the week
  • #2,611
  • Edited 9:22pm Jan 8, 2010 11:13am | Edited 9:22pm
Quoting oneuniverse
morning everybody!

the IBM setup on 5min failed on the opening itself

However look the IBM 30min below

nice pin
very nice div
trend retracement
off round number

this 30min IBM seems working quite well

note - i am attaching the stock chart for the universality of Jankone setups cauz personally traded them on many markets on many time frames.

Any feedback welcome!
Cheers
Winston

UPdate

Stoploss saved by 0.05!
going strong! 130.80 CMP

Jankone your setups rock!
Special thanks to James16group , Jankone and RyanMcd for making my trading life easy!
Trading is a delicate balance of Strategy , Money management and Psychology
  • #2,612
  • Jan 8, 2010 2:43pm Jan 8, 2010 2:43pm
Quoting oneuniverse
Update

Exit planned near PPZ zone
I think raczekfx used to trade a similar way using h1 ppzs to trade the m5...nice work.
  • #2,613
  • Jan 8, 2010 7:53pm Jan 8, 2010 7:53pm
took a loss on this one an hour after Europe open. I did trade it according to my plan and would take it again..but as is often the case, in retrospect..I did not give enough consideration to risk factors including divergence against me and trading into days high. perhaps prudent in similar situations to get to BE ( or take profit) when day high is approached.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 37 KB
All that matters is winning the week
  • #2,614
  • Jan 8, 2010 9:34pm Jan 8, 2010 9:34pm
Quoting lindsayf
took a loss on this one an hour after Europe open. I did trade it according to my plan and would take it again..but as is often the case, in retrospect..I did not give enough consideration to risk factors including divergence against me and trading into days high. perhaps prudent in similar situations to get to BE ( or take profit) when day high is approached.

Hi Lindsayf,

IMHO, there were following things because of which i would not have traded it -

The closing of the Pin body was almost midway of the range

Pins occuring at the end of retracement in a trend trade are generally potent, here the Pin was in TRAFFIC ZONE

For a trend trade
I check the following factors

For Entry

Breakout of previous PPZ zone
New highs and lows
Pins formed in free space and not in traffic
Range of pins
Bars prior to pin
Pin bar retesting previous support / resistance

For confirmations
Higher PPZ and trend + Any candle formation

This is my way of doing it and hope there's nothing wrong in doing it the other way round, however when the above factors are checked, you get high probability trades! These fators have been noted by checking over 500 + such trades on different markets on all time frames

Lindsayf, hope this helps you!

Cheers
Winston
Trading is a delicate balance of Strategy , Money management and Psychology
  • #2,615
  • Jan 9, 2010 1:41am Jan 9, 2010 1:41am
You make some good points Winston...appreciate your support
All that matters is winning the week
  • #2,616
  • Jan 9, 2010 5:11am Jan 9, 2010 5:11am
There is pinbar alert once again...
Attached File(s)
File Type: mq4 PinBar.mq4   31 KB | 759 downloads
  • #2,617
  • Jan 9, 2010 7:06am Jan 9, 2010 7:06am
Okay I've got it now....

Thanks
  • #2,618
  • Jan 10, 2010 4:11am Jan 10, 2010 4:11am
Hi Guys,
I am new to this thread and very interested to get involved. I have migrated from J16.
I have read the thread from beginning to end, and read Ryanmcd.
Can I ask a question that I am struggling with, and have attached a chart to explain this.
On the attached Jankone chart, this is shown as a good CT pin with div that turned into a good trade.
What I want to ask is that in real time, it is quite possible that the pin shown could have been traded as a pin with the trade, as the trend is up. As it is said that we do not need to check div when trading with the trend, how do I avoid making the wrong decision in this instance...............Perhaps I do need to check div, every time?
Many thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: Jankone.jpg Size: 111 KB
"Fail to prepare, prepare to fail."
  • #2,619
  • Jan 10, 2010 4:27am Jan 10, 2010 4:27am
Hi Packhorse
can you clarify the question please? I cant see how you could interpret that pin as 'with' the trend as trend is up on that chart.

Lindsay
All that matters is winning the week
  • #2,620
  • Jan 10, 2010 4:45am Jan 10, 2010 4:45am
Quoting lindsayf
Hi Packhorse
can you clarify the question please? I cant see how you could interpret that pin as 'with' the trend as trend is up on that chart.

Lindsay
Thanks Lindsay. Yes, I see it now. Think I got out of bed half asleep!
"Fail to prepare, prepare to fail."
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