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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #3,361
  • Apr 12, 2010 9:25am Apr 12, 2010 9:25am
looking for a runner!
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Trading is a delicate balance of Strategy , Money management and Psychology
  • #3,362
  • Apr 12, 2010 9:49am Apr 12, 2010 9:49am
Quoting Forex007
Bienvenidos!

Quick answer: I don't think anyone here is posting ALL their trades, just the most interesting ones.

If you look through Ryan's posts, you'll see that one some days he'll take up to 10 trades PER PAIR PER DAY...

You are right about pivots etc - J16 thread explains well why confluence is important.
Forex007 is right. Most don't post too many trades here. But some of the posters here have journals on ff where they keep all their trades. Mine are here.
http://www.forexfactory.com/showthre...95#post3623195
http://www.forexfactory.com/showthread.php?t=206598
(Please note my journals have the main intent to 'journal' my trades. They are not intended to be discussion threads. Of course, PMs are welcome)
  • #3,363
  • Apr 12, 2010 2:28pm Apr 12, 2010 2:28pm
jduester.. I added your journals into my favorites . Thanks it´s important to me to learn more .
  • #3,364
  • Edited 4:23am Apr 13, 2010 2:59am | Edited 4:23am
Too tempting for me not to take a bite.
Half off at the 21ma, half to run.

Steve.

Update:
2nd half out at B/E. Was hoping for a retest (and break )of support at 3565 before locking some profit in but not to be.
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"The more I practice, the luckier I get." (Gary Player)
  • #3,365
  • Apr 13, 2010 4:39am Apr 13, 2010 4:39am
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"The more I practice, the luckier I get." (Gary Player)
  • #3,366
  • Apr 13, 2010 5:49am Apr 13, 2010 5:49am
didn't work out.. speculated on a retrace to the 1.54000

div+very nice pin.. any comments would be appreciated
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  • #3,367
  • Apr 13, 2010 10:29am Apr 13, 2010 10:29am
As good as it gets...
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One Chart is Worth Ten Thousand Words.
  • #3,368
  • Apr 13, 2010 3:18pm Apr 13, 2010 3:18pm
looks good to me too. it happens, just don't over-analyze 'why'. if you take good setups consistently, the odds are in your favor long term



Quoting xeqter
didn't work out.. speculated on a retrace to the 1.54000

div+very nice pin.. any comments would be appreciated
  • #3,369
  • Apr 13, 2010 6:49pm Apr 13, 2010 6:49pm
It´s probably I´m going to say a stupid or obvious thing, but I think that tranding pinbars in 5M it´s profitable, so the same must be trading with the other patterns of PA.

Pinbar in 5M is a pattern but this graphic representation of what has happened in last 5 minutes means, for example, bears could move down price 6 pips and bulls were strong and fought back by moving up the price of 4 or 8 pips . Pinbar is a good measure in a piece of time of bulls or bear´s strength. In the right places (MME, BB, Fibos, PPZ...) is very useful.

If I´m right on the way, pinbar in 10M is a graphic representation of what has happened in last 10 minutes, and if we divide this pinbar in two 5M bar what results?: BUOB, BEOB DBHLC and DBLHC. (IBs could be or not)

Must be the same trading this setups or even better.

This is the PA´s power. Trading is try to know the dominant force and join it, PA tells you without delay where is your friend.

Anyway, that's my theory in practice would be another thing. You tried?

Regard from Spain... and be watter my friend.
  • #3,370
  • Apr 13, 2010 10:30pm Apr 13, 2010 10:30pm
Quoting xeqter
didn't work out.. speculated on a retrace to the 1.54000

div+very nice pin.. any comments would be appreciated
quit trading against a big bull move, trade with the trend. It'll will change your trading, forever.
  • #3,371
  • Apr 14, 2010 5:30am Apr 14, 2010 5:30am
Quoting xeqter
didn't work out.. speculated on a retrace to the 1.54000

div+very nice pin.. any comments would be appreciated
I also took this trade and exited with a partial loss. It was a good setup at a poor location. Please also note that it did NOT have Divergence. That is a must if you are trading Jankone's strategy for CT trades.

I have to agree with Icehockey too. Trading with the trend seems to be more profitable. I haven't given up taking these nice big pinbars at bb extremes yet, but I might be soon.
  • #3,372
  • Apr 14, 2010 7:17am Apr 14, 2010 7:17am
Quoting Jduester
I also took this trade and exited with a partial loss. It was a good setup at a poor location. Please also note that it did NOT have Divergence. That is a must if you are trading Jankone's strategy for CT trades.

I have to agree with Icehockey too. Trading with the trend seems to be more profitable. I haven't given up taking these nice big pinbars at bb extremes yet, but I might be soon.
IMO do it. Life gets a whole lot easier and simpler. Plus (I watch 4 pairs) there always seems to be at least one or more good with the trend trades a day- that I can get my +4R from.
  • #3,373
  • Apr 15, 2010 10:06am Apr 15, 2010 10:06am
15m ct trade, stopped out below the pin.
(that double bottom before bothered my mind, yet i chose to ignore my 'gut feeling'. con or pro, not sure)
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  • #3,374
  • Apr 15, 2010 12:09pm Apr 15, 2010 12:09pm
Quoting dhh
15m ct trade, stopped out below the pin.
(that double bottom before bothered my mind, yet i chose to ignore my 'gut feeling'. con or pro, not sure)

i think the pin 6 bars before the pin you took is what you should be looking for!


regards!
  • #3,375
  • Apr 15, 2010 1:54pm Apr 15, 2010 1:54pm
i was watching that pin too. there was news at the time, so i wasn't thinking abt taking it.

Quoting xeqter
i think the pin 6 bars before the pin you took is what you should be looking for!


regards!
  • #3,376
  • Edited 4:12pm Apr 15, 2010 3:44pm | Edited 4:12pm
What's up ladies and gents? I'm just posting because I've been doing a ton more testing and trading in between my last posts here (To the tune of around 10-12 hours a day as of late) and have come to the realization that others have come to and even more will in due time. With the trend trades are your money makers HOWEVER, more CT trades with divergence tend to give you large runners that turn in for days.

I've noticed and continue to notice that if price is just divergent and it's not crazy O/B-O/S, the chances of you getting busted on it are a LOT higher than if price is divergent to the tune of above that 80 and below that 20. Those are the only ways that I will take a divergent trade. Price action must be present for a trade to be put on even at these levels or you'll still get burned.

Everybody would do well to go back through all of RyanMCD's posts again if you're serious about your business and read, get it ingrained into your head, read, rinse, repeat. Noting where price is in accordance with where we're at when it comes to the divergence is a key note for this method. I just wanted to share what I've come to realize so far.

Can you make cash on trades that don't fit that criteria? Sure.
Will you be stressed out a lot more? Sure.
Will you be as consistent and profitable? That's up to you to test and decide. For me personally, the answer was no.

Have a great day everybody!

P.S, I'll bet that cad/jpy will be a big runner come this time tomorrow or I'll be stopped at B/E.
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I dream, therefore I become.
  • #3,377
  • Apr 15, 2010 4:16pm Apr 15, 2010 4:16pm
Quoting Forex007
Just came across a quote (http://martinkronicle.com/2010/04/09...MartinKronicle) that sums up why I post at FF (I've learnt so much from many people here, who were very generous and helpful...)

“When someone shares something of value with you and you benefit from it, you have a moral obligation to share it with others.” – Chinese Proverb
That's a fantastic way to look at life brother. Class act.
I dream, therefore I become.
  • #3,378
  • Apr 15, 2010 9:15pm Apr 15, 2010 9:15pm
dude.

none of these charts show divergence.

if you keep taking that "pin" in the first chart ul go broke


Quoting mike w
What's up ladies and gents? I'm just posting because I've been doing a ton more testing and trading in between my last posts here (To the tune of around 10-12 hours a day as of late) and have come to the realization that others have come to and even more will in due time. With the trend trades are your money makers HOWEVER, more CT trades with divergence tend to give you large runners that turn in for days.

I've noticed and continue to notice that if price is just divergent and it's not crazy O/B-O/S, the chances of you getting busted on it are...
  • #3,379
  • Apr 15, 2010 9:54pm Apr 15, 2010 9:54pm
Quoting pizdun
dude.

none of these charts show divergence.

if you keep taking that "pin" in the first chart ul go broke

I second that. It is a crap pin bar.
  • #3,380
  • Apr 15, 2010 10:30pm Apr 15, 2010 10:30pm
Quoting pizdun
dude.

none of these charts show divergence.

if you keep taking that "pin" in the first chart ul go broke
No, actually I won't "go broke". When price hits those highs/lows on a fifteen minute chart (Highs/lows on the rsi as well), that usually shows that there is divergent price on the 5 minute timeframe. It's just a simpler way of looking at this in my opinion without being literally glued on the 5 minute bars. Just a tad bit of let up. I guess I should have clarified a bit better, although I doubt that you'll run through the testing portion to find out for yourself. I'm always looking for ways to run my business more efficiently and profitably.

Apologies though for posting things that I've noticed in order for others to possibly test and get a different perspective that they can profit from though. I guess I should just be the leech like so many others instead of doing my own work and sharing.

I've been taking that pin for a while now and I'm doing perfectly fine. Go back and check those crap pin bars from today fellas and maybe it'll strike a chord with you how powerful that "crap" can be.

Have a good night ladies and gents!
I dream, therefore I become.
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