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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #3,781
  • Jul 21, 2010 1:32am Jul 21, 2010 1:32am
Quoting Walcott
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).
Just used round numbers This is example of good setup ( USD/CHF M5) but bad management Nice pin, double bottom, pierced round number, divergence. Overal trend was sideway, maybe a little bit uptrend. Unfortunately I closed trade on daily pivot, because PA had huge trouble (on M1) to cross it .. it was rejected few times. Next time I should leave computer and go for a beer
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  • #3,782
  • Jul 21, 2010 1:33am Jul 21, 2010 1:33am
Btw. I tried several times to find some pattern how to use boilinger bands on CT pin. Can somebody give me advice?
  • #3,783
  • Jul 21, 2010 7:50am Jul 21, 2010 7:50am
How hard is it to wait for the momentum to build and then roll with it ladies and gents? Just poppin in to say hi and see how everybody's doin.

If you wait for the momentum to build a bit before placing trades, I could almost guarantee a 70%+ gain rate unless you're acting like a doofus and placing bad trades when you shouldn't be.
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I dream, therefore I become.
  • #3,784
  • Jul 21, 2010 7:54am Jul 21, 2010 7:54am
Quoting jajo
Btw. I tried several times to find some pattern how to use boilinger bands on CT pin. Can somebody give me advice?
Hey how's it goin Jajo? Here's an example of a countertrend pin piercing the outer bollinger bands. Typically, you like to see divergence on these setups and a pin piercing through the BB or already surpassed the BB. That's how I run them anyway, I don't know about anybody else.

It's the pin under the red arrow BTW.

Edit! Shoot! That's an hourly chart, although it's the same deal with the 5 minute. I looked at that and thought I was looking at the 5 minute. In reality, they are one in the same. I'll post a 5 minute chart up for ya though, that's my bad.
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I dream, therefore I become.
  • #3,785
  • Jul 21, 2010 8:00am Jul 21, 2010 8:00am
Here's one on the 5 minute chart. It's not a pin bar, but what is this?! What could this possibly be?! Put those two bars together and voila, it's a ten minute pin! lol

Have a good one ladies and gents!
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I dream, therefore I become.
  • #3,786
  • Jul 21, 2010 8:39am Jul 21, 2010 8:39am
This is the genesis, where momentum starts to take way.
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I dream, therefore I become.
  • #3,787
  • Jul 21, 2010 11:28am Jul 21, 2010 11:28am
Quoting mike w
Here's one on the 5 minute chart. It's not a pin bar, but what is this?! What could this possibly be?! Put those two bars together and voila, it's a ten minute pin! lol

Have a good one ladies and gents!
I think it is called railroad ... anyways ...thanks for explanation and motivation. You have amazing trades
  • #3,788
  • Jul 21, 2010 2:17pm Jul 21, 2010 2:17pm
Quoting mike w
How hard is it to wait for the momentum to build and then roll with it ladies and gents? Just poppin in to say hi and see how everybody's doin.

If you wait for the momentum to build a bit before placing trades, I could almost guarantee a 70%+ gain rate unless you're acting like a doofus and placing bad trades when you shouldn't be.

this, this, and this.
  • #3,789
  • Jul 21, 2010 4:14pm Jul 21, 2010 4:14pm
Quote
If you wait for the momentum to build a bit before placing trades, I could almost guarantee a 70%+ gain rate unless you're acting like a doofus and placing bad trades when you shouldn't be.

Can you tell us more about the effective way to use momentum ? thx
  • #3,790
  • Jul 21, 2010 7:35pm Jul 21, 2010 7:35pm
Quoting Walcott
Can you tell us more about the effective way to use momentum ? thx
it's all about waiting for a big breakout and waiting for an eventual retracement. Vast majority of the time you'll get a pin or outside bar around the mid BB/21 EMA that's a slam dunk trade.
  • #3,791
  • Jul 21, 2010 7:53pm Jul 21, 2010 7:53pm
Quoting Icehocey77
it's all about waiting for a big breakout and waiting for an eventual retracement. Vast majority of the time you'll get a pin or outside bar around the mid BB/21 EMA that's a slam dunk trade.
If you hit that nail on the head any harder, I'm pretty sure it would explode.
I dream, therefore I become.
  • #3,792
  • Jul 22, 2010 2:32am Jul 22, 2010 2:32am
Quoting Icehocey77
it's all about waiting for a big breakout and waiting for an eventual retracement. Vast majority of the time you'll get a pin or outside bar around the mid BB/21 EMA that's a slam dunk trade.
Big breakout and all. I wish all these things have clear meanings
then I'll be smiling to the bank.

Peace!
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #3,793
  • Jul 22, 2010 4:16am Jul 22, 2010 4:16am
Quoting mike w
How hard is it to wait for the momentum to build and then roll with it ladies and gents? Just poppin in to say hi and see how everybody's doin.

If you wait for the momentum to build a bit before placing trades, I could almost guarantee a 70%+ gain rate unless you're acting like a doofus and placing bad trades when you shouldn't be.
mike,
for my learning purpose, what made you believe there was momentum at the 1st arrow? (i could probably see it for the 2nd arrow).
it seems to me it was still stuck in the ~3 hour sideways.
thanks.
  • #3,794
  • Jul 22, 2010 4:18am Jul 22, 2010 4:18am
positive ct/div trade
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  • #3,795
  • Jul 22, 2010 6:48am Jul 22, 2010 6:48am
Quoting dhh
mike,
for my learning purpose, what made you believe there was momentum at the 1st arrow? (i could probably see it for the 2nd arrow).
it seems to me it was still stuck in the ~3 hour sideways.
thanks.
Hey dhh, how's it goin? Honestly, it's just because I've seen it so many times. I know that when price starts to push away a bit and the 50/20 start to separate as well, price is on the move. Does that happen every single time? No, but for the most part it does. I wait for those moves as those are my high probability setups. When everything is still mumble-jumbled together, I leave it alone and wait.

I hope that helped and if not, I'll try to clarify a bit more.
I dream, therefore I become.
  • #3,796
  • Jul 22, 2010 7:07am Jul 22, 2010 7:07am
Quoting mike w
Hey dhh, how's it goin? Honestly, it's just because I've seen it so many times. I know that when price starts to push away a bit and the 50/20 start to separate as well, price is on the move. Does that happen every single time? No, but for the most part it does. I wait for those moves as those are my high probability setups. When everything is still mumble-jumbled together, I leave it alone and wait.

I hope that helped and if not, I'll try to clarify a bit more.
yes it helps. if i may, it comes with screen time.
if you don't mind, you mentioned 50/20, what is the 3rd MA?
thanks as always.

i'm hanging in there: some wins some losses. my emotions are better controlled now.
  • #3,797
  • Jul 22, 2010 7:25am Jul 22, 2010 7:25am
Quoting dhh
yes it helps. if i may, it comes with screen time.
if you don't mind, you mentioned 50/20, what is the 3rd MA?
thanks as always.

i'm hanging in there: some wins some losses. my emotions are better controlled now.
Nice! That's the first step to profitability IMO is controlling your emotions. They are always going to be there, it's just how you react to them that creates a success or failure.

The third MA is a 10 EMA. I use this when we get into faster moving trends. Price will often find support there and keep moving forward without reaching the area of the 21 in a fast move. Without it, I was just watching these moves fly by me and I wasn't capitalizing on them nearly as much, if at all, which was a royal pain in the butt lol

And you're definitely right, experience is everything. If I were to tell you roughly how many hours of my life that I spent studying, watching the charts, and testing, you'd probably call me crazy lol
I dream, therefore I become.
  • #3,798
  • Jul 22, 2010 9:49am Jul 22, 2010 9:49am
Quoting oneuniverse
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...

I'm not a counter-trend trader, but I believe, that Oneuniverse actually made a very nice and helpful observation.. attached is an example from today on E/U m5
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  • #3,799
  • Jul 23, 2010 10:21am Jul 23, 2010 10:21am
positive trade this morning
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  • #3,800
  • Jul 23, 2010 12:17pm Jul 23, 2010 12:17pm
finally!! I waited all week for this one, too late for a friday but the momentum was still there!
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