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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #3,601
  • Jun 15, 2010 4:28am Jun 15, 2010 4:28am
I took exactly the same trade My last 4 trades failed
  • #3,602
  • Jun 15, 2010 4:39am Jun 15, 2010 4:39am
dont let it hurt you. when it reached SL i got bad feelings too, but only for a second because i know this is just one trade of thousands i will take in my life.

im perfectly comfortable only takin pinbars in the direction of the trend, nothing else and i feel very good about acting as my plan states

rgds
Never whishing, always trading.
  • #3,603
  • Jun 15, 2010 4:42am Jun 15, 2010 4:42am
It seems I have huge problem with emotions Bad trades makes me nervous and I tend to take stupid trades after that to make money back
  • #3,604
  • Jun 15, 2010 4:53am Jun 15, 2010 4:53am
when feelins overwhelm i always read this one here

http://www.forexfactory.com/showpost.php?p=3194905&postcount=179

awesome how this helps me always
Never whishing, always trading.
  • #3,605
  • Jun 15, 2010 5:36am Jun 15, 2010 5:36am
Quoting jajo
It seems I have huge problem with emotions Bad trades makes me nervous and I tend to take stupid trades after that to make money back
we all do....
but we improve as we continue our trading journey.

stick with the good setups u are familiar with/good at & try to look for them every time u are in front of your monitor. sharpen your skills by reading this thread & the james16 thread.
of course, dont forget to ask questions when needed..
  • #3,606
  • Jun 15, 2010 5:57am Jun 15, 2010 5:57am
Finally good trade! UJ, downtrend, Pin on daily support, Mid BBs Nice one!
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  • #3,607
  • Jun 15, 2010 5:58am Jun 15, 2010 5:58am
Quoting supremeChaos
we all do....
but we improve as we continue our trading journey.

stick with the good setups u are familiar with/good at & try to look for them every time u are in front of your monitor. sharpen your skills by reading this thread & the james16 thread.
of course, dont forget to ask questions when needed..
I definitely plan to participate much more. It is nice to share trades and opinions Thanks for support!
  • #3,608
  • Jun 15, 2010 6:15am Jun 15, 2010 6:15am
Quoting Hova
... because i know this is just one trade of thousands i will take in my life.
.... i feel very good about acting as my plan states...
words that eventually turn into solid experience.. then
  • #3,609
  • Jun 15, 2010 6:23am Jun 15, 2010 6:23am
i was not comfortable takin this one, dont know but my mind missed it, perhaps it did not touch 21ema ? plan says it must not be perfect


however...there will always be more !
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Never whishing, always trading.
  • #3,610
  • Jun 15, 2010 6:25am Jun 15, 2010 6:25am
Quoting supremeChaos
words that eventually turn into solid experience.. then

i know it will, I've seen it in my dreams and i believe in it so it will happen if i continue

i got to get it till then i wont stop!!!!

thx !
Never whishing, always trading.
  • #3,611
  • Jun 15, 2010 7:23am Jun 15, 2010 7:23am
Hova,
in other words...
"if u dont quit, success is inevitable"
  • #3,612
  • Jun 15, 2010 7:45am Jun 15, 2010 7:45am
Quoting supremeChaos
Hova,
in other words...
"if u dont quit, success is inevitable"
exactly, great post !

i'm 24 btw.
Never whishing, always trading.
  • #3,613
  • Jun 15, 2010 8:25am Jun 15, 2010 8:25am
24?
  • #3,614
  • Jun 15, 2010 9:01am Jun 15, 2010 9:01am
Quoting jajo
It seems I have huge problem with emotions Bad trades makes me nervous and I tend to take stupid trades after that to make money back

Sounds like you are risking too much money and/or too high percent of your equity per trade. You need to be able to detach yourself from the money. Much easier said then done. But by lowering your risk (in % terms and in $ terms -ie, use a small live account to learn) you will be able to think clearer and not stress so much about the money.

Learn to trade first. Then learn about making money.

You don't need to rush this, the markets are not going anywhere.
  • #3,615
  • Jun 15, 2010 9:09am Jun 15, 2010 9:09am
Had a loss earlier on the UJ, but took this Uchf for 4:1.

The first arrow didn't trigger, but the second arrow was a neutral/pinish bar. I didn't care so much about the bar as I did that the tail showed price was rejected from the level I had marked in blue where I was expecting price to bounce off of and continue with the trend. Did have to work out that it did indeed bounce and continue with the trend? Certainly not but this is the setup I look for and over time will give me lots of money.

The blue bar this trade was off of was not only the prev low but off the xx75 level and (i dont use higher time frames) showed a 15min pin bar. Once price stalled a bit at the xx50 level (next blue bar) I moved my stop to BE. However as soon as this level broke it was a smooth ride to my TP.
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  • #3,616
  • Jun 15, 2010 1:31pm Jun 15, 2010 1:31pm
Quoting stoli7188
Had a loss earlier on the UJ, but took this Uchf for 4:1.

The first arrow didn't trigger, but the second arrow was a neutral/pinish bar....
very nice, I was hoping to get in on that bar but in the last minute or so it went from a pinbar to a neutral bar, so I passed.
  • #3,617
  • Edited 3:07pm Jun 15, 2010 2:27pm | Edited 3:07pm
Have I ever mentioned how awesome it is to see higher timeframe setups and then just wait for the pullbacks on the 5 minute for various entries within that trend? It's pretty damn awesome to hear that register ring.

You maximize your profit that way and minimize the risk until you have nothing risked and everything to gain. And if it doesn't turn out to be a runner? Oh well, there will be more to pull a profit from very soon.

I know some of those aren't perfect pins either so hopefully I don't get flack for that, it's just simple raw price action on the pullbacks.

Have a good day ladies and gents!
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I dream, therefore I become.
  • #3,618
  • Jun 15, 2010 5:29pm Jun 15, 2010 5:29pm
Quoting mike w
Have I ever mentioned how awesome it is to see higher timeframe setups and then just wait for the pullbacks on the 5 minute for various entries within that trend? It's pretty damn awesome to hear that register ring.
Agreed mike. How do you go about checking the charts?

I have considered using multiple time frames with my 5min trading, rather than just checking the 15min every now and then, but I don't want to over complicate my trading if I can help it.

Do you look for PA setups on higher TF's first and then check the 5min for entries in that direction? or Do you watch the 5min and then check the 15min, 1hr bars as that time comes?
  • #3,619
  • Jun 15, 2010 5:39pm Jun 15, 2010 5:39pm
Quoting stoli7188
Agreed mike. How do you go about checking the charts?

I have considered using multiple time frames with my 5min trading, rather than just checking the 15min every now and then, but I don't want to over complicate my trading if I can help it.

Do you look for PA setups on higher TF's first and then check the 5min for entries in that direction? or Do you watch the 5min and then check the 15min, 1hr bars as that time comes?
if i may-
allways trade in the direction of higher time frame.
first look at the longer time frame then drill down to smaller time frame for entry and exit.
like-1 hour first then 15 min then 5 min.(if you follow three time frame).
if you chose 15 min .look at 15 min first and then 5 min for entry and exit.(if you follow 2 TF)
eventhough if you are wrong with smaller time frame ,sometime bigger TF trend will rescue you smaller trend.

hope that helps.
good trading
Regards
sho
  • #3,620
  • Edited 12:53am Jun 16, 2010 12:36am | Edited 12:53am
Quoting stoli7188
...How do you go about checking the charts?
......
Do you look for PA setups on higher TF's first and then check the 5min for entries in that direction? or Do you watch the 5min and then check the 15min, 1hr bars as that time comes?
Hello stoli,
if i may....
i think Sir Mike, like me, Sir Sho (see above post) & many others, do it from top to bottom. meaning higher TFs first then smaller TFs.
like looking at the entire forest (perspective), then the trees (finer details).
u can do it in reverse (lower TFs first, then higher TFs). i sometimes do this.

use what works for u.

(btw, based on your recent post, i believe u are doing great... just keep it up, try to manage trades well & try to let trades run as much as u can)
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