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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #3,041
  • Mar 10, 2010 12:48pm Mar 10, 2010 12:48pm
Quoting Forexcube
"if we have a trending day". You don't know it!
Exactly. Any trade is about a "probability". Different traders use diff. approaches and trade management techniques. E.g. some guys exit 1/2 at RR1, move SL to BE and ride it either till the end of the day, or to the nearest xx00 level (if not stopped out) etc.

40 pips is a good result (if that gives you needed RR, based on your strategy). 120pips is... three times better...

P.S. It was not a criticism, just an observation (yours was the only EU M15 chart posted, hence I commented using it as an example).
One Chart is Worth Ten Thousand Words.
  • #3,042
  • Mar 10, 2010 12:50pm Mar 10, 2010 12:50pm
Quoting Forex007
Exactly. Any trade is about a "probability". Different traders use diff. approaches and trade management techniques. E.g. some guys exit 1/2 at RR1, move SL to BE and ride it either till the end of the day, or to the nearest xx00 level (if not stopped out) etc.

40 pips is a good result (if that gives you needed RR, based on your strategy). 120pips is... three times better...

120 is even better than 40.

Well, well!

:-)

FX Cube
  • #3,043
  • Edited 1:22pm Mar 10, 2010 12:59pm | Edited 1:22pm
1st entry:
First entry till upper Bollinger Band.

2nd entry:
Next entry till the pivots. 2nd entry can't give me the pin bar.

A pin bar don't tell you if you'll earn 20 pips, 50 pips or even more, but it signalize a great trading possibility.

FX Cube
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD, M15, 2010 March 10.jpg Size: 421 KB
  • #3,044
  • Mar 10, 2010 1:38pm Mar 10, 2010 1:38pm
Quoting Forexcube
2nd entry can't give me the pin bar.
Although indeed Ryan (and Jankone) mention primarily PBs, any other strong reversal pattern could be used, with the same logic as PB.

Forexcube showed good entry based on Outside Bar off mid-BB.
One Chart is Worth Ten Thousand Words.
  • #3,045
  • Edited 1:59pm Mar 10, 2010 1:47pm | Edited 1:59pm
I think insiders and outsiders could work, but if you know what are you doing and I don't want to make people confused and complicate things.
This is simply. pinbar with trend and pinbar+div againts.
it can't be easier



added - example

Quoting Forex007
Although indeed Ryan (and Jankone) mention primarily PBs, any other strong reversal pattern could be used, with the same logic as PB.

Forexcube showed good entry based on Outside Bar off mid-BB.
Attached Image (click to enlarge)
Click to Enlarge Name: ins eu m15.gif Size: 17 KB
  • #3,046
  • Mar 10, 2010 1:58pm Mar 10, 2010 1:58pm
http://i39.tinypic.com/2wludm9.gif

This was a nice positive divergence trade I posted in the other M5 thread.
  • #3,047
  • Edited 2:16pm Mar 10, 2010 2:10pm | Edited 2:16pm
Tradeable short?

For me it is too late in the trading day and if there is no major selloff we would just be grinding about
Attached Image (click to enlarge)
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If you think you can or cannot do it you are correct
  • #3,048
  • Mar 10, 2010 2:25pm Mar 10, 2010 2:25pm
no way...
no pinbar, choppy market..
Quoting Olu
Tradeable short?

For me it is too late in the trading day and if there is no major selloff we would just be grinding about
  • #3,049
  • Mar 10, 2010 2:41pm Mar 10, 2010 2:41pm
no pinbar agreed but saw doji and mini divergence... Will keep to the rules next time
If you think you can or cannot do it you are correct
  • #3,050
  • Mar 10, 2010 3:21pm Mar 10, 2010 3:21pm
http://i41.tinypic.com/16a5g1u.gif

Can you trust pin bars around rollover? I don't know. That's why I am asking.
  • #3,051
  • Mar 10, 2010 4:06pm Mar 10, 2010 4:06pm
I dont think you can trust price action at rollover time. traders are just squaring up. That was why I did not takr the doji trade above
If you think you can or cannot do it you are correct
  • #3,052
  • Edited Mar 11, 2010 1:18am Mar 10, 2010 7:41pm | Edited Mar 11, 2010 1:18am
Quoting supremeChaos
i think we have a mix up with the terms....
i just got back online. we did have a term mix up although we were talking of the same thing.
looking at this link, i guess i used the term 'negative divergence' in an unofficial way.
i was way past my bedtime last night & have been reading & replying to posts & reading links simultaneously.... regardless, i stand corrected.
  • #3,053
  • Edited 3:53am Mar 11, 2010 3:41am | Edited 3:53am
Took a BUY trade with PB on M5 + hidden div + regular div later for confirmation.
Also for confirmation:
Previous week ended with a PB
Previous day ended with a PB
Three recent up-candles on H4
Recent Double bottom and close higher on H1
IMHO - only PBs pointing up could be provitable without much risk.

Edit: Out with +41 pips. A kind of a div on M15 showing for a possible pullback.
Attached Image (click to enlarge)
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  • #3,054
  • Edited 4:31am Mar 11, 2010 4:24am | Edited 4:31am
Quoting Shaltay
Took a BUY trade with PB on M5 + hidden div + regular div later for confirmation.
Also for confirmation:
Previous week ended with a PB
Previous day ended with a PB
Three recent up-candles on H4
Recent Double bottom and close higher on H1
IMHO - only PBs pointing up could be provitable without much risk.

Edit: Out with +41 pips. A kind of a div on M15 showing for a possible pullback.
For a moment I thought I was staring at your charts upside down. I almost asked you to kindly rotate the chart and re-upload... LOL Simply because of the red candles you have as bullish candles. Of course it's your preference, but it just made me think a little. In fact the coloring does not matter at all. But it's just that the red made me wonder If the chart was upside down.

.... It's funny what the mind can do to one as a human being. What it just did to me right now was quite strange. Having a one-directional thought process about everything is bad. Change is constant. And flexibility is a virtue (especially in every trading ramification).

  • #3,055
  • Mar 11, 2010 4:29am Mar 11, 2010 4:29am
Quoting wh1zz0
For a moment I thought I had was staring at your charts upside down. ... LOL Simply because of the red candles you have as bullish candles. .... It's funny what the mind can do to one as a human being. ...Change is constant.
Once upon a time, when I was young LOL - that is when I started trading, I suddenly found out that I'm afraid of a red color. It usually means "danger" for the mind. Since that time I change the colors of my charts from time to time to refresh psycological attitudes and to avoid bad behaviour patterns. You are right - "Change is constant"
  • #3,056
  • Mar 11, 2010 4:31am Mar 11, 2010 4:31am
Pins pins pins mornin pins
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  • #3,057
  • Mar 11, 2010 5:08am Mar 11, 2010 5:08am
Quoting wh1zz0
For a moment I thought I was staring at your charts upside down. I almost asked you to kindly rotate the chart and re-upload... LOL Simply because of the red candles you have as bullish candles. Of course it's your preference, but it just made me think a little. In fact the coloring does not matter at all. But it's just that the red made me wonder If the chart was upside down.

.... It's funny what the mind can do to one as a human being. What it just did to me right now was quite strange. Having a one-directional thought process about...
Lol... I had my charts in red and green for nearly a year not thinking about the fact that I'm colour blind on the red green spectrum... Since I changed to light and dark blue my trading has improved ten fold.

Agree with Shaltay also about the red candle colours, have to say I feel much calmer with blue charts now than before... I think a few people would wonder what we're on about but when you realise that your actually trading your perceptions about the market rather than the market these things really strike a chord.
Want what the market wants
  • #3,058
  • Mar 11, 2010 5:20am Mar 11, 2010 5:20am
brains are conditioned to be too linear,, fx is a great exercise in learning to be non linear
  • #3,059
  • Mar 11, 2010 6:42am Mar 11, 2010 6:42am
Quoting DangerBoy
Lol... I had my charts in red and green for nearly a year not thinking about the fact that I'm colour blind on the red green spectrum... Since I changed to light and dark blue my trading has improved ten fold....
i think u are the 2nd or 3rd trader i've come across here as 'color-challenged'.
i think it's very crucial for u to address this issue from the onset.
  • #3,060
  • Mar 11, 2010 7:15am Mar 11, 2010 7:15am
Quoting supremeChaos
i think u are the 2nd or 3rd trader i've come across here as 'color-challenged'.
i think it's very crucial for u to address this issue from the onset.
I changed my candle stick charts (gray) to bar charts (black) and lost half of my demo account last week.

i always had a dream to have those cool templates like Rac, Benji, James16 and Ghous have. but when i switch to it i really can't figure out things properly.
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