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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #3,701
  • Jun 29, 2010 8:38am Jun 29, 2010 8:38am
Hello Forex Girl,
im not sure i understand your question.

u can plot a divergence, for example,
when price is making a higher high, while an indicator is making lower high (which is a bearish divergence)

maybe u can share a chart addressing your question.


*********
example of regular divergence here, here -- examples of regular bullish divergence
example of hidden divergence here -- hidden bearish divergence

if necessary, read babypips further
http://www.babypips.com/school/divergence_trading.html
  • #3,702
  • Jun 29, 2010 10:09am Jun 29, 2010 10:09am
Quoting supremeChaos
Hello Forex Girl,
im not sure i understand your question.

u can plot a divergence, for example,
when price is making a higher high, while an indicator is making lower high (which is a bearish divergence)

maybe u can share a chart addressing your question.


*********
example of regular divergence here, here -- examples of regular bullish divergence
example of hidden divergence here...
Hi,

I´m sorry, My english is not too good....
My problem is about to choose the locate to draw the divergence line in the chart (candles), likechart below....I hope I make myself clear now...

Thank You so much...
Attached Image (click to enlarge)
Click to Enlarge Name: gu divergence.gif Size: 82 KB
If I Change, the whole World changes!
  • #3,703
  • Jun 29, 2010 10:23am Jun 29, 2010 10:23am
since I set a buy stop for the bar to break( plus 2 pips) my entry was at 65, when I got to 1:1 , I moved to break even + 1 (66), unfortunately that little pin looking bar stopped me out (the price stood there for only 1 second before moving up)
otherwise I would have gotten 2:1
Attached Image (click to enlarge)
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  • #3,704
  • Jun 29, 2010 12:22pm Jun 29, 2010 12:22pm
Quoting Forex Girl
Hi,

I´m sorry, My english is not too good....
My problem is about to choose the locate to draw the divergence line in the chart (candles), likechart below....I hope I make myself clear now...
....
it's ok, no problem, girl.

see the chart (apologies for the messy chart; it's 1AM here, lol)
i have drawn circles/ellipses on possible lows/highs u can use to draw the divergence from.

i drew a few divergences (1 small divergence, small red line; 2 divergences with thick red lines)
u are using a RSI divergence indicator. it automatically shows possible divergences with a dotted green line & green arrow. u are not supposed to trade every divergence that indicator shows --- u should make your own decisions on whether to trade or not.

Attached Image (click to enlarge)
Click to Enlarge Name: gu divergence.gif Size: 32 KB


these links will help u understand it better
http://www.babypips.com/school/divergence_trading.html
http://www.babypips.com/school/regular_divergence.html
http://www.babypips.com/school/hidden_divergence.html
http://www.babypips.com/school/diver...eat_sheet.html
  • #3,705
  • Jun 29, 2010 1:03pm Jun 29, 2010 1:03pm
What is the most reliable confluence zone for a pinbar ?

S/R
Pivot points
BRN
Divergence

?

thx !
  • #3,706
  • Jun 29, 2010 1:11pm Jun 29, 2010 1:11pm
Hello Walcott,
IMHO, all of them are reliable, if used properly.

the first 3 are pretty similar/related.
i think more important are S/R & RN(round numbers)
pivots acts as a form of S/R
  • #3,707
  • Jun 29, 2010 2:03pm Jun 29, 2010 2:03pm
Quoting Forex Girl
Hi,

I´m sorry, My english is not too good....
My problem is about to choose the locate to draw the divergence line in the chart (candles), likechart below....I hope I make myself clear now...

Thank You so much...
bom dia forex girl,

it helps alot if you plot the two charts of divergence from babypips and then search your charts for same setups. with a little time you are going to be fine with this belive me i did same.
  • #3,708
  • Jun 29, 2010 2:11pm Jun 29, 2010 2:11pm
Quoting Walcott
What is the most reliable confluence zone for a pinbar ?

S/R
Pivot points
BRN
Divergence

?

thx !
you cant say one of this has the most impact. the more points are on the same level the higher are the probability price is reacting in some way. for example many times a s/r level is on 00 or 50 levels it depends on the pair. cable for example reacts many times on 20 or 80 level too, so if you have an downtrend and price hits an old s-level on roundnumber and you have also divergence on rsi this with a pinbar would be a good entry.
i think you cant say one of this points you have listende are the best, because if it were everybody would only trade one of them. with a lot of screentime you will see what will work best for each pair.
  • #3,709
  • Jun 29, 2010 3:02pm Jun 29, 2010 3:02pm
Quoting supremeChaos
it's ok, no problem, girl.

see the chart (apologies for the messy chart; it's 1AM here, lol)
i have drawn circles/ellipses on possible lows/highs u can use to draw the divergence from.

i drew a few divergences (1 small divergence, small red line; 2 divergences with thick red lines)
u are using a RSI divergence indicator. it automatically shows possible divergences with a dotted green line & green arrow. u are not supposed to trade every divergence that indicator shows --- u should make your own decisions on whether to trade...

Your explanation was very clear.

Thank you so much!
If I Change, the whole World changes!
  • #3,710
  • Jun 30, 2010 5:55am Jun 30, 2010 5:55am
i am going to post my trades (demo) from monday starting with eur/jpy
short @110,49, sl @67, exit @110,35
+14 pips since i am trading different lotsizes (depending on my RM and the setup) the count of pips arent important any more its only the profit at the end of the day.

o got stopped out but still a nice profit since was in with 3,5 lots. RRR was 0,78
Attached Image (click to enlarge)
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  • #3,711
  • Jun 30, 2010 6:06am Jun 30, 2010 6:06am
this is a good example how you shouldnt trade!!!!

gbp/usd -21 pips
long @1,5065 sl@1,5044, exit@1,5044
first failure there wasnt a pinbar (it was but at a wrong place and not nice)
second failure there was r-zone at sweetpoint 80 (very important for cable)

so why the hell i did this trade? i dont know so far i remember i think i was on tilt and stoked from the gain before in my first trade!
what i have learned from this? i need to calm down before i enter a trade i have to ask me why should i pull the trigger right there. so for future there have min. two facts to be to pull the trigger, nice pinbar on the right placePPZ (00,s/r, sweetpoint, trendlines,etc....)
i ploted this chart out and its right to my side so i can see it every day. hope this helps to learn from this. trading 50% mind!
Attached Image (click to enlarge)
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  • #3,712
  • Jun 30, 2010 6:16am Jun 30, 2010 6:16am
another trade that could be with another end.
auz/nzd -16 pips
long @1,2329 sl@1,2313, exit@1,2313

what went wron there was a small ppz and a pinbar also main trend up so a valid sign for a long entry. after the entry price didnt move for a while, so he went a short time in plus and then back south and hit my sl.
in this trade i waited to long. i learnd from this that after i entred the market and price dont proceed in the direction i thought i am going to close after 4-5 candles or if in + put sl on BE.
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  • #3,713
  • Jun 30, 2010 6:24am Jun 30, 2010 6:24am
fourth one from monday.
gbp/usd +18pips
long @1,5095 sl@1,5074, exit@1,2313
this was really a nice one not only because it was a +trade because of the main picture. you will see once again how stupid my first trade was and on the other hand how sweet the second was the confluence of s/r on sweetpoints.
ok the pinbar wasnt as nice as it should be but sometimes you should break the rules. i knew that cable are reacting on 20/80 levels so for this trade the pin wasnt so important it looks mor like a doji? anyway in metatrader chart it looks like a little bit better then in this oanda chart.
only thing in this trade was, i was a little to slow in entry and exit so i missed some pips. but hey its still a winner!
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  • #3,714
  • Jun 30, 2010 6:34am Jun 30, 2010 6:34am
so here is the last one from monday
eur/usd +7pips
long @1,2280 sl@1,2263, exit@1,2287
this was a countertrade (CT) usual i dont like them to much but since this is demo i am going to trade them. after my 3 months i am going to check my journal and i will see if its worth or not, because so far i have seen you have to be very quick with you tp and tp is most of the time <1R (in my trading dont know how it works for others) so this means you have to be right more then 50% of your entrys.

resume of monday if you see in total i only gained +3 pips but i made more then 600US (enough for a living if you can repeat the performance). this due to the fact that i use different positionsizes (depend on sl and setup also on my mind) but i never risk more then 3% for one trade! neeeeeeever!
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  • #3,715
  • Jun 30, 2010 8:09am Jun 30, 2010 8:09am
Just a question :

Pinbar setups work approximatively the same on all pairs, or are there pairs to avoid or other to definitely trade with ?

Same question for Timeframe, I wrote pibar works better on +H1 TF, like H4 or Daily.

Thx !

Best regards,
Wal
  • #3,716
  • Jun 30, 2010 9:18am Jun 30, 2010 9:18am
Quoting supremeChaos
it's ok, no problem, girl.

see the chart (apologies for the messy chart; it's 1AM here, lol)
i have drawn circles/ellipses on possible lows/highs u can use to draw the divergence from.

i drew a few divergences (1 small divergence, small red line; 2 divergences with thick red lines)
u are using a RSI divergence indicator. it automatically shows possible divergences with a dotted green line & green arrow. u are not supposed to trade every divergence that indicator shows --- u should make your own decisions on whether to trade...
Friends,

Which the best entry in this case? It´s 11:12 am in Brazil....AU TF 1h.
I have some difficult to decide the best entry after pinbar formation....

Thank you...
Attached Image (click to enlarge)
Click to Enlarge Name: au enter.gif Size: 40 KB
If I Change, the whole World changes!
  • #3,717
  • Jun 30, 2010 10:41am Jun 30, 2010 10:41am
Quoting Forex Girl
Friends,

Which the best entry in this case? It´s 11:12 am in Brazil....AU TF 1h.
I have some difficult to decide the best entry after pinbar formation....

Thank you...
if you trade on 1h TF you need a little more then the normal spread for entry, i thougt i have read that high/low +10 pips if i am right. thats because noise.
Attached Image (click to enlarge)
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  • #3,718
  • Jun 30, 2010 10:53am Jun 30, 2010 10:53am
Quoting Walcott
Just a question :

Pinbar setups work approximatively the same on all pairs, or are there pairs to avoid or other to definitely trade with ?

Same question for Timeframe, I wrote pibar works better on +H1 TF, like H4 or Daily.

Thx !

Best regards,
Wal
pinbar setups work on every TF, but the lower the time frame the more fake signals. because in higher timeframe you will have more information 1h Pinbar is including 1h information, 1min Pinbar has 1 minute information.
i trade on 15M TF everything lower is really hard. but it depends on your skill to read the chart. i spent 4 years with different systems and all the stuff a newbie do at the beginning. i tried 100 things and now i landed with pinbars and this fits for me. because of the 4 years i have a lot of screentime so for me the 15min is ok.
for your question about pinbars and different pairs watch the chart i have uploaded. thats chf/jpy you see how many pinbars you have? there are plenty of it. really nice ones with long shadows, but with most of them you will burn your accout. so maybe you need to change the tf in this pair for less signals but more reliable.
i trade Pairs with EUR/XXX, GBP/USD, NZD/JPY work well for me but watch the spread.
Attached Image (click to enlarge)
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  • #3,719
  • Jun 30, 2010 4:17pm Jun 30, 2010 4:17pm
Hey guys, do you have some ideas how to improve this forum, what would you like to see here, or maybe private forum ( paid content, maybe videos or I have archive with very enought trades - images and comments ) or what do you think ?
  • #3,720
  • Jun 30, 2010 4:27pm Jun 30, 2010 4:27pm
Quoting Jankone
Hey guys, do you have some ideas how to improve this forum, what would you like to see here, or maybe private forum ( paid content, maybe videos or I have archive with very enought trades - images and comments ) or what do you think ?
I am more than interested to join possible private forum (paid one ... of course ... right price ) Your system works and helped me a lot!
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