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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #2,721
  • Edited 7:10am Jan 19, 2010 6:56am | Edited 7:10am
Quoting Michael81
Hi Lowen,

I don't trade any counter-trend trades so I don't have a big experience when you should move SL to BE in this case but definitely the PB with trend is the warning sign.
If I remember correctly Jankone advocates for moving SL to BE as soon as possible in counter trend trades and he kills a position if it doesn't shoot until the third bar or so.

I see that you couldn't move SL as you were out leaving open position. You decided to do it and you should have been fully aware that it could be a loss. No reason to avoid losses really. They...
thanks Michael,
i think your ideas are very reasonable. Looking on the chart now, I also see what you talked about: the price did not really go in my favour, and then the bullish PB.. that should've been my trigger to close or at least move to BE..

well, shouldn't go to lunch with a trade being active

@ lindsay: right, would have perfectly fit to the RR 1:1
  • #2,722
  • Jan 19, 2010 7:04am Jan 19, 2010 7:04am
Hi Lowen
The alternative was to take profit at the 21 ema..which Jankone very often uses. Fairly high % TP.

best
Lindsay
All that matters is winning the week
  • #2,723
  • Jan 19, 2010 2:33pm Jan 19, 2010 2:33pm
Hi everyone,

This is my first post after a lot of time reading and learning (and of course demo-ing). After much time spent (and much wasted) with various indicators and strats I started developing my own from bare basics. I then stumbled across this thread (again) and realized the parallels. Anyway hopefully I can continue to learn as I understand this is still the start of a long road.

Attached chart is from this morning. I missed a lot of the action going on until the hidden divergence shown. Was not very strong and the pin as well was decent at best. Still I took a chance and it worked out in my favour with a quick 11pip profit. Didn't bother touching the semi PB that followed. Too hidden in my opinion and not the best when working with engulfment. Still if someone caught it would have been nice. Any thoughts?
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  • #2,724
  • Jan 19, 2010 8:43pm Jan 19, 2010 8:43pm
Quoting Aguaman
Hi everyone,

This is my first post after a lot of time reading and learning (and of course demo-ing). After much time spent (and much wasted) with various indicators and strats I started developing my own from bare basics. I then stumbled across this thread (again) and realized the parallels. Anyway hopefully I can continue to learn as I understand this is still the start of a long road.

Attached chart is from this morning. I missed a lot of the action going on until the hidden divergence shown. Was not very strong and the pin as well was decent...
honestly don't know which pin you are referring to, but the problem with all these is that the time of day is the wrong time to be trading the M5. Having said that,


first pin, nice squeeze of the bollinger bands but there isn't any divergence.

Second, chopping around at this point not the best pin

third, pretty small pin only 3 pips at a nice S/R area, 2nd pullback is quality, still the small pin is a no go.

hope that helps
  • #2,725
  • Jan 19, 2010 8:52pm Jan 19, 2010 8:52pm
Quoting Icehocey77
honestly don't know which pin you are referring to, but the problem with all these is that the time of day is the wrong time to be trading the M5. Having said that,


first pin, nice squeeze of the bollinger bands but there isn't any divergence.

Second, chopping around at this point not the best pin

third, pretty small pin only 3 pips at a nice S/R area, 2nd pullback is quality, still the small pin is a no go.

hope that helps
First part about time of day is very true. I was basically just experimenting I guess since I had the time but I don't intend to be doing that on my live account. The pullback was where I entered but like you said pin was a no go. Made tiny profit. I'll show a bit more quality later.

Thanks
  • #2,726
  • Jan 20, 2010 8:44am Jan 20, 2010 8:44am
Quoting Icehocey77
honestly don't know which pin you are referring to, but the problem with all these is that the time of day is the wrong time to be trading the M5...
hope that helps

Icehocey77,

What time of day (GMT) do you guys trade this method?

Thanks.
  • #2,727
  • Jan 20, 2010 12:23pm Jan 20, 2010 12:23pm
Quoting fxmaverick
Icehocey77,

What time of day (GMT) do you guys trade this method?

Thanks.
Don't know GMT, but usually 730am to 200pm est
  • #2,728
  • Jan 20, 2010 1:46pm Jan 20, 2010 1:46pm
Keeping with the momentum, this is a trade i saw this morning (around 8ish EST). This is in reference to the CT trade after div.

My real question however lies in the PB which I circled. Is this a smart trade to jump into after such a big move? I usually feel very nervous about entering such trades. Any advice?

Thanks
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  • #2,729
  • Jan 20, 2010 2:50pm Jan 20, 2010 2:50pm
i'm not sure if there is a pinbar in your circle ?:-)

Anyway welcome here, I'm glad you like this thread.

Quoting Aguaman
Keeping with the momentum, this is a trade i saw this morning (around 8ish EST). This is in reference to the CT trade after div.

My real question however lies in the PB which I circled. Is this a smart trade to jump into after such a big move? I usually feel very nervous about entering such trades. Any advice?

Thanks
  • #2,730
  • Jan 21, 2010 2:25am Jan 21, 2010 2:25am
just need an advice, do you think that these two first weeks of the year were good for the system (I mean in term of market liquidity, I know this system has lot of potential )?
  • #2,731
  • Jan 21, 2010 5:02am Jan 21, 2010 5:02am
Hello ttteee,
that's a subjective question. everyone will have a different answer. also, during the 1st two weeks of the year, not everyone is back to trading (some are on extended vacations), so the trade results will vary from person to person.

if u are familiar with the james16 method (both methods are fairly similar & 'linked'), u can trade this method anytime (although market liquidity definitely affects price action).

nothing to worry or get anxious about.
  • #2,732
  • Jan 21, 2010 5:05am Jan 21, 2010 5:05am
Quoting fxmaverick
What time of day (GMT) do you guys trade this method?
if i may...
u can trade this anytime.
ideally, u trade during the europe & US sessions (for best liquidity; high trading activity)
  • #2,733
  • Edited 5:20am Jan 21, 2010 5:10am | Edited 5:20am
Quoting Aguaman
Keeping with the momentum...
My real question however lies in the PB which I circled. Is this a smart trade to jump into after such a big move? I usually feel very nervous about entering such trades..
i agree with jankone.
really no PB inside the circle.
if u are just starting out, u should look for good-sized PB's. avoid taking small or pseudo-PB's. review all jankone's charts to see what good-sized PB's look like.

trust your instinct.. in your above post, u were 'correct to be nervous', u shouldn't take that kind of trade, specially with a big bearis bar prior it.



EDIT:
try to be specific next time. u encircled 6 candles in the above chart.
  • #2,734
  • Jan 21, 2010 5:13am Jan 21, 2010 5:13am
Quoting supremeChaos
i agree with jankone.
really no PB inside the circle.
if u are just starting out, u should look for good-sized PB's. avoid taking small or pseudo-PB's. review all jankone's charts to see what good-sized PB's look like.

trust your instinct.. in your above post, u were 'correct to be nervous', u shouldn't take that kind of trade, specially with a big bearis bar prior it.

Thanks for the advice. Yeap. I've been practising for about 6 months and only JUST starting to see the "ones and zeroes" so to speak. I joined this forum because guys like yourself and others have good advice and I'm not afraid to get slammed hahah. All towards a better end. Thanks again. Today should be a lot better.
  • #2,735
  • Jan 21, 2010 5:17am Jan 21, 2010 5:17am
Quoting Aguaman
Keeping with the momentum, this is a trade i saw this morning (around 8ish EST). This is in reference to the CT trade after div.

My real question however lies in the PB which I circled. Is this a smart trade to jump into after such a big move? I usually feel very nervous about entering such trades. Any advice?

Thanks
You were lucky because it is not a Pin - but welcome to the forum anyway
every Saint has a past. Every Sinner has a Future
  • #2,736
  • Jan 21, 2010 5:17am Jan 21, 2010 5:17am
Quoting Icehocey77
Don't know GMT, but usually 730am to 200pm est
im not from US, so anyone can correct me if im wrong...
the above time period's conversion is 1230 - 1900GMT
  • #2,737
  • Jan 21, 2010 5:19am Jan 21, 2010 5:19am
Quoting turnip15
You were lucky because it is not a Pin - but welcome to the forum anyway

Hah don't get me wrong like I said I traded the pin at the div that I outlined that came after it. It definitely wasn't a pin now that's I've read and reread some notes I'd made. Very silly (but honest) error on my part.

Thanks for the welcome!
  • #2,738
  • Jan 21, 2010 8:36pm Jan 21, 2010 8:36pm
Quoting Aguaman
Thanks for the advice. Yeap. I've been practising for about 6 months...
Hey bro...
no slamming from us...
people like myself only slam people who are 'negative' &/or whiners.

u seem to be respectful, open-minded & enthusiastic so u dont deserve to be slammed.

Keep it up Sir!
  • #2,739
  • Jan 22, 2010 9:24am Jan 22, 2010 9:24am
Quoting supremeChaos
Hey bro...
no slamming from us...
people like myself only slam people who are 'negative' &/or whiners.

u seem to be respectful, open-minded & enthusiastic so u dont deserve to be slammed.

Keep it up Sir!
Appreciate that...

Well here's my first thought out trade for the day. Watched it develop for a while. Decent div and very nice PB in my opinion. I'll update as it progresses.
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  • #2,740
  • Jan 22, 2010 9:30am Jan 22, 2010 9:30am
Annnd fantastic outcome. 15 pips. Patience is a virtue in this. I've been staring patiently for about 3 hrs.
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