Jankone M5 thread | Page 176 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

James16+Rayanmcd(Jan kone) and ME 7 replies

Attachments: Jankone M5 thread
Exit Attachments

Jankone M5 thread

  • #3,501
  • May 24, 2010 6:03am May 24, 2010 6:03am
Quoting xeqter
hey you!

yesterday in aud/usd i took this setup inspired by your post some weeks ago.. these are the setups we should be looking for, do i get it right? i have observed it over the last weeks and i really like this style! it would be very cool if you could post some of the setups looking like this that you take!
Hi Xeqter,
No offense taken. Here is a thread of all the trades I take on this tf... http://www.forexfactory.com/showthre...6598&page=3222 Bear in mind my strategy continues to develop as I learn more and market conditions change. Happy trading!
  • #3,502
  • May 24, 2010 6:06am May 24, 2010 6:06am
This is one of my favourite setups but I sadly missed it due to a phone call. I am using PA on a larger timeframe for direction, and 5 min chart for entry. This way I can maximise my R:R.

First Chart (4 Hour):
There is a Bearish Outside Bar at a major level, Round Number and 50 SMA. It is also with the major trend which means you are more likely to get a runner.

Second Chart (5 Min):
After the formation of the 4 Hr BEOB, price has retraced as it usually does, and I look for PA to get me into a short trade.

Price forms a BEOB at the 50% retrace (of the move that formed the 4 hour BEOB), and also off the 50SMA.

The rest is max reward and very little risk!

I would trail my stop behind 21 EMA, 1.44 RN etc.

Please note I do not trade 5 min Outside Bars UNLESS there is supporting PA on a higher time-frame. Too risky for me......
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbp-usd 4h.gif Size: 12 KB
Click to Enlarge Name: gbp-usd 5min beob.gif Size: 11 KB
  • #3,503
  • Edited 8:10am May 24, 2010 8:00am | Edited 8:10am
An update on my progress with live trading and this method.

Well, I blew my little micro live account due to psychological reasons I would say. I still believe in this method.

Impatience I would say, mainly, followed by fear and greed were my biggest enemies. It's hard to take such a small account seriously so may add a zero to my next live account balance.

It's been a very valuable learning period.

Back to demo until I get the hang of my setup choice, too, which wasn't satisfactory.

Will be waiting for more trades like this one I took today. I took the trade and just did something else while it 'matured'.

Good pin with trend off round number/PPZ 1.0600 on USD/CAD M5. There was added resistance from both MAs and the center BB.

- TTP -
Attached Image (click to enlarge)
Click to Enlarge Name: usdcadm5.gif Size: 21 KB
  • #3,504
  • May 24, 2010 8:39am May 24, 2010 8:39am
takingthepip,
Good decision to go back & demo
nice trade here, but imho u exited too early, as the lower BB seem to be widening & there is space (no traffic below your exit).
next time try to leave a position open (1/2 position or whatever) to take advantage of possible trends.
  • #3,505
  • May 24, 2010 2:17pm May 24, 2010 2:17pm
Quoting supremeChaos
takingthepip,
Good decision to go back & demo
nice trade here, but imho u exited too early, as the lower BB seem to be widening & there is space (no traffic below your exit).
next time try to leave a position open (1/2 position or whatever) to take advantage of possible trends.
Hi SC,

Yes, that looked good for a bigger move and my finger was hovering over the 'modify' take profit option on that one, but was happy with 20 pips or so as I'm in 'cautious' mode after blowing the account.

I'll definitely be spending time to try different exit strategies over the next few months using a simulator. I'd be very interested to know the outcome of trailing stops as opposed to fixed TP. I would guess more losses/breakeven trades but a few winners that might make that style of exit more profitable than a fixed exit in the long run.

Will demo for another month or 2 and try live again if I see a big improvement in my performance.

:-)

- TTP -
  • #3,506
  • May 24, 2010 2:19pm May 24, 2010 2:19pm
Quoting takingthepip
An update on my progress with live trading and this method.

Well, I blew my little micro live account due to psychological reasons I would say. I still believe in this method.

Impatience I would say, mainly, followed by fear and greed were my biggest enemies. It's hard to take such a small account seriously so may add a zero to my next live account balance.

It's been a very valuable learning period.

Back to demo until I get the hang of my setup choice, too, which wasn't satisfactory.

Will be waiting for more trades like this one I took...
Perfect trade! And perfect decision proving to yourself on demo, will do wonders on your confidence levels when going live
  • #3,507
  • Edited 2:07am May 25, 2010 1:41am | Edited 2:07am
i was 10 mins away :O

sry its EU M5, pic is updated
Attached Image (click to enlarge)
Click to Enlarge Name: eum5.jpg Size: 123 KB
Never whishing, always trading.
  • #3,508
  • May 25, 2010 2:04am May 25, 2010 2:04am
Hova,
which pair & timeframe?
btw, your chart is zoomed in too much.
  • #3,509
  • May 25, 2010 2:11am May 25, 2010 2:11am
This is AU M5, another thing i was thinking about.
Is this a valid Short trade even though the pin was above the 21EMA(yellow) but hitting RN(0.82)+50 SMA (red) ?

thx
Attached Image (click to enlarge)
Click to Enlarge Name: aum5.jpg Size: 131 KB
Never whishing, always trading.
  • #3,510
  • May 25, 2010 2:54am May 25, 2010 2:54am
IMHO, it is still valid.
price is below 50sma, & price closed below it
50sma has been sloping down.
pin + 0.8200 round number rejection
after the pin, price went down -- another confirmation
  • #3,511
  • May 25, 2010 3:44am May 25, 2010 3:44am
just like discussed before... looks very nice
Attached Image (click to enlarge)
Click to Enlarge Name: ej_m5_2505_0805.gif Size: 41 KB
  • #3,512
  • May 25, 2010 7:20am May 25, 2010 7:20am
i took this short off 21ema and rn.. did not work out
Attached Image (click to enlarge)
Click to Enlarge Name: uj_m5_2505_1400.gif Size: 41 KB
  • #3,513
  • May 25, 2010 7:47am May 25, 2010 7:47am
Hello again xeqter,
compare your 2 previous charts.

compare:
-the color of the bar (bullish or bearish)
-the position of the bar in relation with the mid-BB &21ema
- presence/lack of space/traffic below the bar (with red arrow)

if u observe both charts closely, u will see many differences
  • #3,514
  • May 26, 2010 10:44am May 26, 2010 10:44am
CT div pin
Attached Image (click to enlarge)
Click to Enlarge Name: 26.5.10 ej.gif Size: 22 KB
  • #3,515
  • May 26, 2010 10:45am May 26, 2010 10:45am
What your thoughts on the previous blue pin buddy? Also had div?
  • #3,516
  • May 26, 2010 2:58pm May 26, 2010 2:58pm
follow the trend, just a tad under 3% gain.
Attached Image (click to enlarge)
Click to Enlarge Name: eu052610m5b.jpg Size: 137 KB
  • #3,517
  • May 26, 2010 7:31pm May 26, 2010 7:31pm
Quoting oneuniverse
Dear friends,

I have made a PPS which includes Jankone style charts almost from begining of this thread
Only A+ setups are included
I hope Jankone wont mind!

This would be a quick referrence the next time we have live trades

Download

Cheers,
Winston
Does anyone have the pps file from this post? The download link doesn't seem to be working.

Scott
  • #3,518
  • May 26, 2010 8:02pm May 26, 2010 8:02pm
Hi guys,dont you just love this method! Anyway anybody using Fxpro for this this? Looking for another Mt4 broker now,So would like to know what you guys are using.

Thank you

kai
  • #3,519
  • May 26, 2010 10:47pm May 26, 2010 10:47pm
Quoting Sim
What your thoughts on the previous blue pin buddy? Also had div?
if i remember correctly, he likes to take pins on swings (swing high/low).
the previous blue pin is more of a double bottom pin rather than being at a swing point.
  • #3,520
  • May 26, 2010 10:49pm May 26, 2010 10:49pm
Quoting scott087
Does anyone have the pps file from this post?...
Hey Scott,
i've been using a different PC for a few months now. im not sure if i have that file in my other PC. if ever, i'll PM u.
0 traders viewing now