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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #3,761
  • Jul 9, 2010 9:51pm Jul 9, 2010 9:51pm
I tend to scalp off the 1M, but lately just use the M15 on UJ or EJ.

Do you find using the M5 makes you more pips than the M15 ?
I agree with you as I don't trade unless the set up is there as you shouldn't NEED to be in a trade, but have you found the M5 is the best option ?

Just curious.

kj
  • #3,762
  • Jul 10, 2010 4:28am Jul 10, 2010 4:28am
again ct m5 pinbar setup.
you can see it's friday,
it's a little bit slow ... but winner.
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  • #3,763
  • Jul 12, 2010 1:35pm Jul 12, 2010 1:35pm
Hi everyone,

Here are my only 2 trades from today on USDCHF 5 minute.

1. BUOB - CT with very nice divergence. Fast winner.

2. Pin - off 21ema and mid-bb. The only con was that it was trading right into 1.06 but I was planning a quick TP and setting to BE at 1.06 and seeing if we could break lower. Full loss on this one.

Any comments would be appreciated. I have a few other days worth of trades that I may post.

Scott
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  • #3,764
  • Jul 13, 2010 10:40am Jul 13, 2010 10:40am
I was against a round number but I decided to take it anyway. I love this kind of setup, price breaks resistance with big bars and the retraces with smaller non overlapping ones.
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  • #3,765
  • Jul 13, 2010 11:18am Jul 13, 2010 11:18am
Quoting scott087
Hi everyone,

2. Pin - off 21ema and mid-bb. The only con was that it was trading right into 1.06 but I was planning a quick TP and setting to BE at 1.06 and seeing if we could break lower. Full loss on this one.

Any comments would be appreciated. I have a few other days worth of trades that I may post.

Scott
Hi, I trade only EUR/USD. about your trade no.2 , I was actually watching the EU chart and it showed a withtrend outside bar (bullish engulfing), I did set a buy Stop Order but it never triggered, IMO Your USD/CHF setup looks even better, I cant think of a reason not to take it, maybe the time of the day (lunch)
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  • #3,766
  • Jul 13, 2010 12:17pm Jul 13, 2010 12:17pm
Quoting judith
Hi, I trade only EUR/USD. about your trade no.2 , I was actually watching the EU chart and it showed a withtrend outside bar (bullish engulfing), I did set a buy Stop Order but it never triggered, IMO Your USD/CHF setup looks even better, I cant think of a reason not to take it, maybe the time of the day (lunch)
I think if this one showed up again I would take it again. The time was around 1:40 EST so I start looking for trades at 12:30-1 EST when lunch ends.

Can Jankone or anyone else comment on the USDCHF setup? I don't really have any reason not to take it, I just want to be sure it was just one of those setups that will fail once in a while.

Scott
  • #3,767
  • Jul 13, 2010 1:27pm Jul 13, 2010 1:27pm
Quoting scott087
I think if this one showed up again I would take it again. The time was around 1:40 EST so I start looking for trades at 12:30-1 EST when lunch ends.

Can Jankone or anyone else comment on the USDCHF setup? I don't really have any reason not to take it, I just want to be sure it was just one of those setups that will fail once in a while.

Scott
I don't see anything wrong with this setup ... except .. you had probably bad SL (top of pin?). I usually add 2-3 pips (just for case) over the top of PIN for my SL and 1:1 risk/reward for TP
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  • #3,768
  • Jul 13, 2010 11:46pm Jul 13, 2010 11:46pm
been a few weeks since I've been on here, spending my hard earned dough recharging the batteries on vacation. First day back and this landed in my lap for a nice 4% gain.....need to start looking for that next vacation

Been playing with the 10 EMA being used to enter pullbacks when we're in a big trend. Thanks to mike_w for the tip.
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  • #3,769
  • Jul 14, 2010 12:44am Jul 14, 2010 12:44am
Quoting jajo
I don't see anything wrong with this setup ... except .. you had probably bad SL (top of pin?). I usually add 2-3 pips (just for case) over the top of PIN for my SL and 1:1 risk/reward for TP
I always add 1-2 pips above the high of the pin when shorting. However, with the spread taken into account it was just enough to take me out. I think my chart was showing the bid price and even with the 2 pip buffer above the high the ask price took me out.

Thanks for the input, if I saw this setup again I would still take it.

Scott
  • #3,770
  • Jul 14, 2010 12:48am Jul 14, 2010 12:48am
Quoting Icehocey77
been a few weeks since I've been on here, spending my hard earned dough recharging the batteries on vacation. First day back and this landed in my lap for a nice 4% gain.....need to start looking for that next vacation

Been playing with the 10 EMA being used to enter pullbacks when we're in a big trend. Thanks to mike_w for the tip.
Can you elaborate or point me to a post regarding the 10 EMA? I searched the thread but nothing came up.

I've noticed for a while that we get these strong trends that never pull back to the mid bb/21 EMA and I can't find a good way to catch them. If there is a way you use the 10 EMA to enter on these trends I would appreciate your insight.

Scott
  • #3,771
  • Jul 14, 2010 9:28am Jul 14, 2010 9:28am
Quoting scott087
Can you elaborate or point me to a post regarding the 10 EMA? I searched the thread but nothing came up.

I've noticed for a while that we get these strong trends that never pull back to the mid bb/21 EMA and I can't find a good way to catch them. If there is a way you use the 10 EMA to enter on these trends I would appreciate your insight.

Scott
Sure, I got it from this thread: http://www.forexfactory.com/showthread.php?t=11854

Like you, I've been trying to work on ways to get in on a big trend. So basically I treat the 10 EMA like the 21 EMA...but it usually works better if you allow for the 10 to be pierced like it says in the thread. Check it out, hopefully it works for ya.
  • #3,772
  • Edited Jul 16, 2010 9:23am Jul 15, 2010 7:26pm | Edited Jul 16, 2010 9:23am
Hey Tingkill,
my fellow countryman...i see u 'down there'
post charts or questions if u have one
  • #3,773
  • Jul 16, 2010 10:25am Jul 16, 2010 10:25am
I took this with-trend PB, missed my TP by 4 pips and got stopped out at break even
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  • #3,774
  • Jul 20, 2010 7:20am Jul 20, 2010 7:20am
ct/div, stopped out below the pin.
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  • #3,775
  • Jul 20, 2010 9:15am Jul 20, 2010 9:15am
EJ M5. Trade with trend, pretty nice pin, Resistance at daily pivot + previous S/R level. Sorry for not being here ... but I was studying past charts (1 year of data) trying to analize the best possible setups
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  • #3,776
  • Jul 20, 2010 9:17am Jul 20, 2010 9:17am
Quoting dhh
ct/div, stopped out below the pin.
I considered this trade too ... but for me the trend was too strong and it was already after yesterday low
  • #3,777
  • Jul 20, 2010 10:05am Jul 20, 2010 10:05am
Quoting jajo
I considered this trade too ... but for me the trend was too strong and it was already after yesterday low
i see. you have added some personal touch to it. for me, i am just sticking to the system itself for now.
  • #3,778
  • Jul 20, 2010 11:11am Jul 20, 2010 11:11am
Quote
trying to analize the best possible setups

Winston posted a CT pinbar strategy (double bottom/top) it seems to work perfectly and also avoid falling knife (too strong trend) like dhh just had.
  • #3,779
  • Jul 20, 2010 1:17pm Jul 20, 2010 1:17pm
Quoting dhh
i see. you have added some personal touch to it. for me, i am just sticking to the system itself for now.
Jankone's strategy works .. no doubt about that. But since I am a newbie trader and I still have difficulty with basics (like to see trend) I decided to study historical charts and ALL pins in ALL posible price action scenarios. Right now I am making stats to see exactly where pins should be located to bring maximum possible profit. I have added SMA100 which for me works to see current thrend, daily pivots, stoch, previous S/R levels and also PA patterns (head and shoulders, double tops). Seems that it works for me
  • #3,780
  • Jul 21, 2010 3:14am Jul 21, 2010 3:14am
Quoting jajo
Jankone's strategy works .. no doubt about that. But since I am a newbie trader and I still have difficulty with basics (like to see trend) I decided to study historical charts and ALL pins in ALL posible price action scenarios. Right now I am making stats to see exactly where pins should be located to bring maximum possible profit. I have added SMA100 which for me works to see current thrend, daily pivots, stoch, previous S/R levels and also PA patterns (head and shoulders, double tops). Seems that it works for me
Good approach, don't forget (big) round numbers they are also important confluence points.

I advice you to use bollinger bands (especial with ct pinbars).
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