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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #3,681
  • Jun 23, 2010 8:58pm Jun 23, 2010 8:58pm
Quoting judith
Could you explain a bit further please, I didn't quite get the strategy.
i think he is simply aiming for 5pips per trade.
TP = 5pips.
  • #3,682
  • Jun 23, 2010 9:12pm Jun 23, 2010 9:12pm
Quoting jajo
...
5, Do not cry over one bad trade
....
yes, correct. although, IMHO, crying is a normal human reaction.
if u cry each time u lose, then your 'tears reserves' will often get dried up.

seriously speaking,
losses are part of what we do.
at the same time, wins are part of what we do too. but, we should not get too excited &/or overconfident every time we win (opposite of 'crying every time we lose').

if u are just starting out, u must realize this is a long journey.
if u do this right, in the end u will win more than u lose.
Never stop learning!
  • #3,683
  • Jun 24, 2010 9:21am Jun 24, 2010 9:21am
15m trend trade. stopped out after moved to b/e. momentum is weak, but it's still giving some pips.
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  • #3,684
  • Jun 24, 2010 12:31pm Jun 24, 2010 12:31pm
moved SL to BE after 20min(4 bars) and it came 0.5 pips from touching it, it struggled for about 30 min more but it finally gave in.
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  • #3,685
  • Jun 25, 2010 6:37am Jun 25, 2010 6:37am
Sometimes it is worth to watch M30 too
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  • #3,686
  • Jun 25, 2010 6:46am Jun 25, 2010 6:46am
Quoting jajo
Sometimes it is worth to watch M30 too
Hi Jajo,
That trade was riskie for me because it is CT trade without divergence,momentum down,above RN,so not for me.
Anyway It went long in your way and you manage fine so good for you.
  • #3,687
  • Jun 25, 2010 8:01am Jun 25, 2010 8:01am
Quoting Fxfighter
Hi Jajo,
That trade was riskie for me because it is CT trade without divergence,momentum down,above RN,so not for me.
Anyway It went long in your way and you manage fine so good for you.

Hmmm ... I see it diferently Uptrendline was broken, MAs shows downtrend so yes ... it is CT, but with immediate divergence (RSI) and there was also pervious S/R level 2 times tested.
  • #3,688
  • Jun 25, 2010 10:04am Jun 25, 2010 10:04am
Quoting jajo
Hmmm ... I see it diferently Uptrendline was broken, MAs shows downtrend so yes ... it is CT, but with immediate divergence (RSI) and there was also pervious S/R level 2 times tested.
Hi Jajo,
That is fine,your set-up worked for u so you were right when u entered and u win and I didn't have loss))))Was only my view others can see diferently.Just wait for SC ,mike,jankone and other seniors comments.

P.S.my comments I made at your chart display here as I am at work so can not check my and another importent thing is than was comment only TF30 min ,I prefer look at higher TF as well.
Anyway happy trading.
  • #3,689
  • Jun 25, 2010 10:18am Jun 25, 2010 10:18am
hi guys,

this I call a a+ - setup and this is exactly what we should be waiting for!

- beautiful pin
- previous support zone -> new resistence
- round number
- divergence



cheers and a nice weekend!
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  • #3,690
  • Jun 25, 2010 11:47am Jun 25, 2010 11:47am
Quoting xeqter
hi guys,

this I call a a+ - setup and this is exactly what we should be waiting for!

- beautiful pin
- previous support zone -> new resistence
- round number
- divergence



cheers and a nice weekend!
great setup man! this is real Gold. If we have enough patience, such setups will milk pips after pips! this setup seems a way to heaven...keep up bro! and surprisingly , I have been trading such trend pins as above setup from many months now and can vouch for such setups!
Trading is a delicate balance of Strategy , Money management and Psychology
  • #3,691
  • Jun 25, 2010 12:10pm Jun 25, 2010 12:10pm
Quoting oneuniverse
great setup man! this is real Gold. If we have enough patience, such setups will milk pips after pips! this setup seems a way to heaven...keep up bro! and surprisingly , I have been trading such trend pins as above setup from many months now and can vouch for such setups!

thanks for the kind words mate, i'm exactly of your opinion - these setups are really worth waiting for! ..additionally they occur on every timeframe so keep your eyes open.. you know what you have to be looking for!
  • #3,692
  • Jun 28, 2010 1:52pm Jun 28, 2010 1:52pm
again fast trade, counter trend with div, fast +12
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  • #3,693
  • Jun 29, 2010 3:02am Jun 29, 2010 3:02am
Quoting Jankone
again fast trade, counter trend with div, fast +12
i took this too!! but i was a little to slow so for me only +7 pips
pinbar rocks!!!! but its very important with a good moneymanagment.
thx jankone for your work her, i found now a method that fits for me the journey for searching the grail is over, now i understand the 1000 posting i have read about entry, its not so important more important is the money- and riskmanagment. to bring my trading up to the next level i am searching now for a good exit-strategy. unfortunatly theres not as much information as about entrys and different strategys.

folks pick a strategy that fits to your personality stick to them and then you are going to be profitable!
  • #3,694
  • Jun 29, 2010 4:30am Jun 29, 2010 4:30am
Hello Makaveli,
for exits, try these:
- u can exit on the opposite band or middle BB
- next PPZ or S/Rs (to know more, read james16 thread)
- round numbers etc
- let a remaining position run for as long as u can; have a long term target

Quote
.....more important is the money- and riskmanagment.
excellent. that's correct, IMHO
but entries & exits are important too

im happy for u! keep it up, never stop learning & keep posting Sir
  • #3,695
  • Jun 29, 2010 4:57am Jun 29, 2010 4:57am
Quoting supremeChaos
Hello Makaveli,
for exits, try these:
- u can exit on the opposite band or middle BB
- next PPZ or S/Rs (to know more, read james16 thread)
- round numbers etc
- let a remaining position run for as long as u can; have a long term target

excellent. that's correct, IMHO
but entries & exits are important too

im happy for u! keep it up, never stop learning & keep posting Sir
hy supreme,
usual i try the pinbars with trend and countertrend. my exits for countertrend are normaly 1R thats more or less most of the time at middle of bb, if the candle breaks the middle of bb clear, i go for more. i am more or less find with that.
the problem i have is trading pins with trend, there i need a smart exit algorythm. because so far i did my research on trend exits i think round numbers or s/r many times price often do only a retracment on this, and then i am going to close my trades because of fear to loose my gains or "only" got out with BE, after i close my trade price proceed with the trend. and next time i think ok this time i am going to let the trend run i am going to be stoped out! so my exits are handled with fear and greed thats realy a problem for my emotions because its very easy for me due to that fact that i am going to trade on tilt guided of emotions to hunt the profit! so i need a clear strategy for this to stop this behavoir.
  • #3,696
  • Jun 29, 2010 5:39am Jun 29, 2010 5:39am
Makaveli,
i see.
try having several positions open, leave a few positions on for trending trades

u have to experiment with exits, & see what suits u personally.
  • #3,697
  • Jun 29, 2010 5:46am Jun 29, 2010 5:46am
hi everyone,

I'm working on a A+ Setup for IT Pinbar.

The idea is to trade only if :
- A+ IT Pinbar (out of traffic, big enough according to bars before)
- Trend confirmation (MA's LTF/HTF confirmation)
- Pin must bounce on confluence zone : Pivot points OR intraday s/r OR brn. I know it filters most of pinbar but being in a confluence zone increase probabilities.

A top has to be define before (last fractal far enough for reach at least 2 R:R). We will use it as TP. If there are not a top we don't take trade.
We look at confluence zones too (between entry and this TP) for sell a part of the position

We can entry on a 50% fibs retracement of Pinbar range, or 38%, or simply on Pinbar close for various entries. I'm still searching for the right entry point.
The usual SL : 1 or2 pips + spread over/under Pinbar.


Thx for your reviews,

Wal
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  • #3,698
  • Jun 29, 2010 5:59am Jun 29, 2010 5:59am
Hello Walcott,
looks good.
i like the parts where u talked about confluences, discounts (retracement entries) & probabilities.
im not familiar with fractals so i cant make a detailed comment on it. (i know it has something to do with highs/lows)

regarding the R:R, what i can say is dont be too rigid... take what the market gives u:
sometimes u will get less than 2R; sometimes more than 2R.
move with the market; the market wont move with us (in short, go with the flow)


Good luck!!
  • #3,699
  • Jun 29, 2010 8:04am Jun 29, 2010 8:04am
supremeChaos, thx for your advices.
maybe I can allow 1,5R:R, but it means the last top can be close to pinbar entry. Why not.
  • #3,700
  • Jun 29, 2010 8:21am Jun 29, 2010 8:21am
Quoting Jankone
again fast trade, counter trend with div, fast +12
Hello Jankone and Friends,

First I would like to say that I´m studying Forex for one year and this time I found a effective system to operate. Congratulations!
I´ve been studying Babypips.com. I know what is a divergence, but I'm having a difficulty to locate the time to plot the points of high / low, draw the line above or below the candles ....
It's a silly question, but I'm not safe in check.
I´m sorry about the English, I am Brazilian.

Thank´s for your attention....
If I Change, the whole World changes!
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