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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #3,101
  • Mar 16, 2010 6:32am Mar 16, 2010 6:32am
Quoting Jduester
A nice one here.
-with trend
-pullback to midBB
-124RN
Kaboom.
....
Hey Josh,
u failed to mention...
i think one of your favorites --- with hidden div.
  • #3,102
  • Mar 16, 2010 6:41am Mar 16, 2010 6:41am
Quoting supremeChaos
Hey Steve,
it's ok.
i checked your charts & my chart...
more specific observations:
-the pins were smaller than the previous bars
-price is not making significant highs, so market at that time is ranging. IMHO
-pins are not at a swing high.
-the 2 pins on my FXPro (live), their lows are 1.3676 & 1.3675. the bar next to it has a 1.36741 low
-the pins are IN Traffic (look to the left of original chart) AND heading into immediate traffic, that is, the bar highs of the 2nd & 3rd bar PRIOR the first pin were both 1.36731....
All very goods points and dully noted.
Quote
pins did not break convincingly
I know Jankone enters on the bar close, I personally wait for a break (1-2 pips, which the first pb did) to wait any longer is missing too much of the move imo.
Thanks for the input as always Chaos.

S.
"The more I practice, the luckier I get." (Gary Player)
  • #3,103
  • Mar 16, 2010 6:47am Mar 16, 2010 6:47am
Quote
pins did not break convincingly
Quote
....I personally wait for a break (1-2 pips, which the first pb did) to wait any longer is missing too much of the move imo.
mrsingha,
i understand your concern above.
btw, the key word is "convincingly".

anywy, mai pen rai krap.

Thanks for your charts (& to the other people's charts as well).
  • #3,104
  • Mar 16, 2010 7:07am Mar 16, 2010 7:07am
Hi All,

Atached RSI Divergence Indicator, with Period = 6 to use with this strategy.
Attached File(s)
File Type: mq4 Ackel_RSI_Divergence.mq4   12 KB | 791 downloads
  • #3,105
  • Mar 16, 2010 7:17am Mar 16, 2010 7:17am
Quoting alexmackel
Hi All,
Attached RSI Divergence Indicator,...
Hello alex!
there are several RSI div indicators floating around here in FF & around the net. what's the difference of your indicator?

welcome to FF & this thread, in behalf of all.
  • #3,106
  • Mar 16, 2010 7:19am Mar 16, 2010 7:19am
Quoting lindsayf
that is one pretty setup..I hope you took it.
Regarding E/J:
No, I hesitated for a split second and it started running without me.



I took these two so far. B/E on first one, 0.7R on second... maybe I should still be holding second, but I'm happy
Attached Image (click to enlarge)
Click to Enlarge Name: eu 0311610 6.50.gif Size: 31 KB
  • #3,107
  • Mar 16, 2010 7:22am Mar 16, 2010 7:22am
Hello SupremeChaos,

Excuse me, but I did not found the other indis and I edit the CCI divergence indicator that I found in this thread to use RSI indicator with Period=6, like Jankone sugest.

Quoted:

"Hello alex!
there are several RSI div indicators floating around here in FF & around the net. what's the difference of your indicator?

welcome to FF & this thread, in behalf of all."
  • #3,108
  • Mar 16, 2010 7:57am Mar 16, 2010 7:57am
Hi guys,

First of all I'd like to say I really like this simple but effective system. It seems to mesh very well with my trading goals. I like how it really teaches to focus on PA, and not having indicator frenzy on your charts.

I just have one question, On average how many trading setups do you guys usually get a day?

Right now i'm watching EU / GU / AU and UJ between 8AM EST - 11AM EST (this is my trading time available)
  • #3,109
  • Mar 16, 2010 8:07am Mar 16, 2010 8:07am
This is my trading platform... I basically watch with MT4 and wait for Pinbar alerts, and place the trades through Oanda.

Platform
Attached Image (click to enlarge)
Click to Enlarge Name: Trading Platform.jpg Size: 181 KB



This is my first trade of the day
Attached Image (click to enlarge)
Click to Enlarge Name: Trade 1 Success.jpg Size: 290 KB
  • #3,110
  • Mar 16, 2010 8:14am Mar 16, 2010 8:14am
Quoting Chasem
Hi guys,
...
I just have one question, On average how many trading setups do you guys usually get a day?
...
Hello Chasem!
we get this question often, in many threads.
the answer is:
for this method, it depends on
1. how many pairs u look at,
2. your personal trading style (applied with this method) &
3. how long u are glued to your monitor to look for setups.

btw, imho, the MORE important issue is the quality of setups available, not the quantity of setups. the more quality u look for in a setup, the lesser the quantity, but highly likely the lesser quantity in losses u'll experience too.
here is where knowledge & experience enter. IF u are new to this stuff, i highly suggest u read first james16 thread. if u can read this & that thread 'simultaneously', much better. that thread will teach u about 'quality' & patience.

Welcome, in behalf of all!
  • #3,111
  • Mar 16, 2010 8:18am Mar 16, 2010 8:18am
Quoting Chasem
This is my trading platform
....
This is my first trade of the day
Attachment
observation:
VERY small pin.
be careful, dont get a habit of taking small pins like this. (unless u have accumulated enough experience)
again, we are talking of quality here.
Please check Jankone's trades/charts. this is a small thread, compared to many others out there: take the time to read.

Hope this helps.
  • #3,112
  • Mar 16, 2010 8:20am Mar 16, 2010 8:20am
First time i've seen Islander down there.
Good to have u here Sir.
  • #3,113
  • Mar 16, 2010 8:22am Mar 16, 2010 8:22am
Quoting Chasem
Hi guys,

First of all I'd like to say I really like this simple but effective system. It seems to mesh very well with my trading goals. I like how it really teaches to focus on PA, and not having indicator frenzy on your charts.

I just have one question, On average how many trading setups do you guys usually get a day?

Right now i'm watching EU / GU / AU and UJ between 8AM EST - 11AM EST (this is my trading time available)
I watch the 5min some days from 4am EST - 1:00pm EST. Other days it's less... I take 0-5 setups a day... maybe 1-2 a day average. Watching 2-3 pairs.

Like SP said, it'll be different for everyone. Much more important to know what you are looking for and only trade when you see it. Better to under trade than overtrade, especially on this tf.
  • #3,114
  • Mar 16, 2010 8:25am Mar 16, 2010 8:25am
Quoting Jduester
Like SP said, it'll be different for everyone. Much more important to know what you are looking for and only trade when you see it. Better to under trade than overtrade, especially on this tf.
This man speaketh the truth. So far today, I've traded one setup. Sometimes at 9 o'clock, it'll already be at 3 or 4. It depends on the quality really. If there's no quality, you're wasting you're time. Put it this way, if you see two girls- both have equal everything, except one is dropdead gorgeous and the other isn't- which are you going to look at? Your trading experience should be the exact same way....you shallow bastids!
I dream, therefore I become.
  • #3,115
  • Mar 16, 2010 8:28am Mar 16, 2010 8:28am
Quoting mike w
...If there's no quality, you're wasting you're time. Put it this way, if you see two girls- both have equal everything, except one is dropdead gorgeous and the other isn't- which are you going to look at? Your trading experience should be the exact same way....you shallow bastids!
oh brother, u can't get away from this topic, can u?
  • #3,116
  • Mar 16, 2010 8:32am Mar 16, 2010 8:32am
Quoting Jduester
I watch the 5min some days from 4am EST - 1:00pm EST. Other days it's less... I take 0-5 setups a day... maybe 1-2 a day average. Watching 2-3 pairs.

Like SP said, it'll be different for everyone. Much more important to know what you are looking for and only trade when you see it. Better to under trade than overtrade, especially on this tf.
I definitely consider myself lucky to be able to trade Monday, Tuesdays full time and Wed,Thur's 8-11 while working a full time job

I was just curious what I could expect.

Interestingly enough, I've been floating around FF for about a year looking at different systems, trying things here and there... But this is the first one that has actually caught my attention and has gotten me to actually try trading it day in and day out.

Too bad FF doesn't have a testimonials section...
  • #3,117
  • Mar 16, 2010 8:39am Mar 16, 2010 8:39am
Quoting Chasem
...
Too bad FF doesn't have a testimonials section...
no need for testimonials.
just Thank the thread starter (Jankone), Ryanmcd (his/our mentor here), & then pay it forward.
  • #3,118
  • Mar 16, 2010 8:45am Mar 16, 2010 8:45am
EURUSD

See this wonderful PinBar, nice, isn't it?
Attached Image (click to enlarge)
Click to Enlarge Name: PinBar.jpg Size: 161 KB
  • #3,119
  • Mar 16, 2010 8:57am Mar 16, 2010 8:57am
Or is everyone waiting for the FOMC?
Attached Image
If you think you can or cannot do it you are correct
  • #3,120
  • Mar 16, 2010 9:00am Mar 16, 2010 9:00am
Quoting Olu
Or is everyone waiting for the FOMC?
FOMC today? I'm still finding it easier to basically avoid all news, even on this tf.
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