Jankone M5 thread | Page 178 | 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

  • #3,541
  • Jun 1, 2010 11:07pm Jun 1, 2010 11:07pm
Quoting jajo
Today was boring for me ... no real signals....
Benem's correct again.
it's an inside bar. if u think that it's a pinbar, then it's a VERY small pinbar that is not protruding away from other bars.
do review jankone's charts/trades & compare with this chart.

on one hand, Trading is boring because u take the same good trades, the same good setups... & u wait for these setups to occur.

if u are trying to learn this method,
start from the setups jankone trades, then once u are experienced, u can branch out from other setups u like.
  • #3,542
  • Jun 2, 2010 1:38am Jun 2, 2010 1:38am
Thanks for reply. I downloaded all Janktones charts and study them each day now.
  • #3,543
  • Jun 2, 2010 10:49am Jun 2, 2010 10:49am
Is anybody still running the 50 sma on here or did you cut it out for the most part?

I was just checking out Phil Nel's 5 minute thread after running through Ryanmcd's posts again and noticed a pretty nice filter on trend trades regarding the 50 sma if you're getting burned on ranges. I know most of my losses come into play from the ranges while most of my gains are from the nice clear trend setups.

Still have to give a huge thanks for this thread being started Jankone and Ryan. I know at least one person's gained from it.
I dream, therefore I become.
  • #3,544
  • Jun 2, 2010 11:01am Jun 2, 2010 11:01am
Quoting mike w
Is anybody still running the 50 sma on here or did you cut it out for the most part?

I was just checking out Phil Nel's 5 minute thread after running through Ryanmcd's posts again and noticed a pretty nice filter on trend trades regarding the 50 sma if you're getting burned on ranges. I know most of my losses come into play from the ranges while most of my gains are from the nice clear trend setups.

Still have to give a huge thanks for this thread being started Jankone and Ryan. I know at least one person's gained from it.
50 SMA still runnin and doin good job ! i know two person's gained from this one so thx from my site too !
Never whishing, always trading.
  • #3,545
  • Jun 2, 2010 8:29pm Jun 2, 2010 8:29pm
Quoting mike w
Is anybody still running the 50 sma on here or did you cut it out for the most part?

I was just checking out Phil Nel's 5 minute thread after running through Ryanmcd's posts again and noticed a pretty nice filter on trend trades regarding the 50 sma if you're getting burned on ranges. I know most of my losses come into play from the ranges while most of my gains are from the nice clear trend setups.

Still have to give a huge thanks for this thread being started Jankone and Ryan. I know at least one person's gained from it.
I use both MA's as per the original system. Aside from just the cross to signal the trend I like to look at the angles of both the MA's. For example if the MA's are both angled nicely with the trend I will be more likely to take the trade then if they are looking flat/ starting to flatten (yet there is still a clear cross of the MA's).

The cross of the MA's plus the angle help show me if the pair is moving enough for me to start looking for a PA setup to get in on and catch some of the move. I look for a profit target of 4 times my stop loss and I only take PA with the trend so for me this is important.
  • #3,546
  • Jun 3, 2010 8:36am Jun 3, 2010 8:36am
Have been waiting whole day for this one Pretty nice pin in trend. Rejection of PA on daily resistence, rejection of uptrendline. I set 1:1 RR because I was going against RSI divergence.
Attached Image (click to enlarge)
Click to Enlarge Name: aa.gif Size: 87 KB
  • #3,547
  • Jun 3, 2010 9:04am Jun 3, 2010 9:04am
Hello jajo,
at the time of your exit, there was no RSI div.
  • #3,548
  • Jun 6, 2010 11:07am Jun 6, 2010 11:07am
Has anybody been able to create a system only with PBs and BB confirmation? (i.e. no RSI div).
  • #3,549
  • Jun 7, 2010 6:19am Jun 7, 2010 6:19am
You don't need RSI divergence confirmation when you trade WITH trend. You can define actual trend with MAs or trendlines. I am trying to trade the trend only with nice PB and BB position + S/R levels and it works Of course when you have RSI div and trade with trend ... that should be A++ trade and you have another signal for good trade.
  • #3,550
  • Jun 7, 2010 3:22pm Jun 7, 2010 3:22pm
Hello to all newones and experienced....

I want to thank Jankone and Ryan for their invaluable inputs! In fact I am reaping the fruits of this Methodology to a great extent!

With proper Time period and understanding of this method, almost 80% hit rate is achieved in the long term.

My fav setup here is

CT ( read very carefully below or u will burn ur hands easily)

Time : London open to LO close

For Buy setup
1) Double Bottom formation
2) Price should not close below the low of first bottom before or after the Pin is formed .....( this is my filter, but works wonder )
3) RSI 6 div and one of the RSI bottom should touch 20 or lower level
4) Range of Pin must be greater than the previous bar
5) Clear Double bottom
6) If prior to Pin formation, the price tests the first bottom and rejects to close below it OR the price spike is very near to first bottom prior to pin formation.........Better!


Hit Rate: Min 80%.....I have been observing it as 90% till date

TP: On the whole : 1R sure!

If against the trend or S/R on Higher TF, go for 1R

if higher time frame or S/R are in harmony with the current setup time
frame, trail all the position till BE after it reaches 1R and wait for
runner

Runners: if u follow above rule, 20% chance of getting runner more than 5R ( rest depends on market conditions )


My tracking of the setup

1) for M5 and M15, please track only LONDON open to close
EU , UCHF, GU, UJ, UCAD, AU, EG, EJ, NU

2) for M30 and H1, H2 track any time!
rest other imp 15 pairs

Also I have done intense testing on Stocks and commodities for this setup and works awesome! try urself!

Target achievable: please dont think in terms of pips!
10 to 12% a month easily possible with 1% risk per
trade

I have attached the word doc also also!

Good Luck and Kind regards
Winston
Attached File(s)
File Type: doc Pin Bar Counter Trend Setup.doc   68 KB | 1,457 downloads
Trading is a delicate balance of Strategy , Money management and Psychology
  • #3,551
  • Jun 7, 2010 3:31pm Jun 7, 2010 3:31pm
There are RIS div indicator and Pin bar alerts on this thread.
Can anyone combine both of the indicator so that only when the RSI div and Pin bar happens simlutaneously, there is a alter.

This new indicator will be very useful for detecting the above setup ( posted in the above post )

This would save us from being on screen most of the time and improve the efficiency!

Kind regards
Winston
Trading is a delicate balance of Strategy , Money management and Psychology
  • #3,552
  • Jun 7, 2010 3:35pm Jun 7, 2010 3:35pm
Can someone explain me how to use BB as a filter for pinbar in the trend

Thx very well !!!!
  • #3,553
  • Edited 4:34pm Jun 7, 2010 4:16pm | Edited 4:34pm
oneuniverse, nice setup.

How many trade have you in daily average on all these currencies ?
Maybe you can use 15m or 5m timeframe instead of 30m. Can make much more signals with not significant %rate cut.
I should be able to program your request (a friend of mine to be exact).
  • #3,554
  • Jun 7, 2010 7:37pm Jun 7, 2010 7:37pm
Quoting oneuniverse
There are RIS div indicator and Pin bar alerts on this thread.
Can anyone combine both of the indicator so that only when the RSI div and Pin bar happens simlutaneously, there is a alter.

This new indicator will be very useful for detecting the above setup ( posted in the above post )

This would save us from being on screen most of the time and improve the efficiency!

Kind regards
Winston
Hey Winston,

I believe there are a few PB indicators floating around the j16 thread. I don't have them as I haven't found one that works well, but someone here might. If anyone does have a PB indicator that works I'd like to try it out.

PS..I'm assuming no one has the pps file you posted a while back with lots of good A+ examples. Did you ever come across the one you made?

Scott
  • #3,555
  • Jun 7, 2010 11:02pm Jun 7, 2010 11:02pm
Quoting scott087

PS..I'm assuming no one has the pps file you posted a while back with lots of good A+ examples. Did you ever come across the one you made?

Scott
hey Scott, see the link! Have recovered from old PC
here you go
Enjoy!

Download Jankone pps
Trading is a delicate balance of Strategy , Money management and Psychology
  • #3,556
  • Jun 7, 2010 11:07pm Jun 7, 2010 11:07pm
Quoting Walcott
oneuniverse, nice setup.

How many trade have you in daily average on all these currencies ?
Maybe you can use 15m or 5m timeframe instead of 30m. Can make much more signals with not significant %rate cut.
Hi, it really depends on market conditons but I am sure that we get atleast 10 to 12 setups in a month combined on M5, M15,M30 and H1 time frames

Quoting Walcott
I should be able to program your request (a friend of mine to be exact).
great! looking forward


Kind Regards
Winston
Trading is a delicate balance of Strategy , Money management and Psychology
  • #3,557
  • Jun 7, 2010 11:09pm Jun 7, 2010 11:09pm
Quoting oneuniverse
hey Scott, see the link! Have recovered from old PC
here you go
Enjoy!

Download Jankone pps
hi,

this pps is not updated with trades till date! but have many beautiful trades
Trading is a delicate balance of Strategy , Money management and Psychology
  • #3,558
  • Jun 7, 2010 11:32pm Jun 7, 2010 11:32pm
Quoting Jduester
FxPro for charting.
Oanda for trading.
I see a lot of people recommending OANDA lately. Why is that? Are the brokers that I'm used to like Interbank no longer being recommended?
  • #3,559
  • Jun 8, 2010 1:43am Jun 8, 2010 1:43am
ITradeDaily,
mainly because Oanda offers very flexible position sizing. nice spreads too.
still, it's up to the trader to choose a broker he/she is comfortable with.
  • #3,560
  • Jun 8, 2010 1:48am Jun 8, 2010 1:48am
Quoting oneuniverse
hey Scott, see the link! Have recovered from old PC...
..was about to check if i have it in my other PC too, hahah
thanks!
4 traders viewing now