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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #3,841
  • Aug 1, 2010 9:59pm Aug 1, 2010 9:59pm
Quoting Divergence
what i am trying to say is when you have a 123 pattern form...
i understand what u are trying to say, but with all due respect, i think your wave count is probably illegitimate. (see jajo's pic; i have mentioned from the onset that i'm open to correction)
that wave count u drew is probably your 'personal' wave count. i have no issues with that. my concern is you are sharing what is probably an illegitimate wave count which will only serve to confuse traders here, rather than help them.
besides, this thread is relatively simple in form & rules. please understand newer traders are already having difficulties with this simple method.
so adding EW-related charts would add further burden. (traders who have grasped Ryanmcd's method could of course opt to study EW or other methods/systems if they wish, but this thread is obviously not the place for that & for posting such)
  • #3,842
  • Aug 1, 2010 10:17pm Aug 1, 2010 10:17pm
Quoting jajo
That is EXACTLY my problem. I analized last 1.5 years of charts and made stats based on many different factors. At the end I come to conclusion that if you want to have 90+% success probability you need to have perfect pin + divergence + double top/bottom + stoch in extreme position + pierced daily pivot or resistance + with trend + round number + outside BBs...
i may sound rude but my sole purpose is to tell u the truth &/or give u 'a-ha' moment/s

-if u really wanna backtest, why stop at 1.5years? backtest further back.
-(if i understood what u said...) do u think u will get 90% success probability early in your trading career? i think 90% is idealistic.
-perfect pin? hw do u determine a 'perfect pin'? u will NOT always get that perfect pin. moreover, even 'perfect pins' fail. on the other hand, 'imperfect pins' work too.
-u are already having difficulties trading pin + MAs + RSI + BB. do u think your odds will surely increase if u add more criteria &/or indicators?
less criteria &/or indicators
= 'cleaner' charts
= faster brain processing
= faster trade decision (execution or non-execution)
= less stress

-u admitted u had a problem. what exactly is your problem? if u already know your problem, then u should exhaust all efforts to find the solution &/or minimize repeated mistakes.
-Lastly, u should CEMENT in your mind that losing is a part of trading. u cannot win all the time.
  • #3,843
  • Aug 2, 2010 2:24am Aug 2, 2010 2:24am
Quoting supremeChaos
i may sound rude but my sole purpose is to tell u the truth &/or give u 'a-ha' moment/s

-if u really wanna backtest, why stop at 1.5years? backtest further back.
-(if i understood what u said...) do u think u will get 90% success probability early in your trading career? i think 90% is idealistic.
-perfect pin? hw do u determine a 'perfect pin'? u will NOT always get that perfect pin. moreover, even 'perfect pins' fail. on the other hand, 'imperfect pins' work too.
-u are already having difficulties trading pin + MAs + RSI + BB. do...
Hi ya Supreme..

Just following on from what your saying here I noticed yesterday in another thread people were saying there were divergences with there indicators and if they looked over the last couple of pages of the thread they would have realised that everyone was coming up with the same conclusion.... that when using the indicators RSI, MACD, Stochastics, CCI, they are all saying the same thing with divergences and turning points so really I don't think there is any need to have all these indicators splattered all over the chart to confuse matters more and also even at times one says go this way the other says that way why confuse things and why not just stick with 1 simple indicator like an RSI which we are using in this thread....

I'm not saying that I haven't been intoxicated with all these indicators before as I have and it is all part of the learning process I feel....

Adrian
  • #3,844
  • Aug 2, 2010 2:40am Aug 2, 2010 2:40am
Quoting supremeChaos
i may sound rude but my sole purpose is to tell u the truth &/or give u 'a-ha' moment/s

-if u really wanna backtest, why stop at 1.5years? backtest further back.
-(if i understood what u said...) do u think u will get 90% success probability early in your trading career? i think 90% is idealistic.
-perfect pin? hw do u determine a 'perfect pin'? u will NOT always get that perfect pin. moreover, even 'perfect pins' fail. on the other hand, 'imperfect pins' work too.
-u are already having difficulties trading pin + MAs + RSI + BB. do...
My biggest problem are emotions. Each time I loose the trade I feel pain and start doubt about my setups I become nervous and start looking for addtional rules to trade My rational part of brain fully understand that we are playing the probabilities game .... but when it comes to emotions .. I just fail. I really appreciate all your advice and it has certainly helped me to grow
  • #3,845
  • Aug 2, 2010 3:00am Aug 2, 2010 3:00am
Quoting aarangio
....
Just following on from what your saying here..they would have realised that everyone was coming up with the same conclusion.... that when using the indicators RSI, MACD, Stochastics, CCI, they are all saying the same thing....
Hello Adrian,
yes, these oscillators will show the same info (we just need to tweak the settings/value).
better to master 1 or 2 indicators.
avoid using 2 or more indicators that say the same thing. 2 or more indicators saying the same thing DOES NOT necessarily mean u have increased the odds in your favor.

awesome post, Sir!
  • #3,846
  • Edited 3:53am Aug 2, 2010 3:09am | Edited 3:53am
Quoting jajo
My biggest problem are emotions. Each time I loose the trade I feel pain and start doubt about my setups....
emotions is a problem of ALL traders. we just try to minimize it's effects/influence in us.

remember your first day in school?
remember your first bike ride?
how did u feel? were u confident or were you scared?

to battle negative emotions/psychology, we need to arm ourselves with knowledge. with knowledge, we increase confidence (& humility). as we increase confidence, emotions slowly take the backseat.

******************
are u on demo?

stop (demo/live) trading. take a few days/weeks off.
relax, contemplate... after which, read & study.
review this thread, review Ryanmcd & jankone's posts.
read/review james16 thread. learn about S/R.

if there is anyone to blame, it is YOU.
if u are to succeed, the key is YOU.
take responsibility of your successes & failures...& do what needs to be done.
Take your time... we will still be here.
Good luck!
  • #3,847
  • Aug 2, 2010 5:49am Aug 2, 2010 5:49am
hey guys,

is this a good setup ?
Attached Image (click to enlarge)
Click to Enlarge Name: jak.png Size: 11 KB
  • #3,848
  • Aug 2, 2010 7:51am Aug 2, 2010 7:51am
Hello kaydara,
that is an IPB, not a PB.
search for ghous' posts on IPB. (PM him too if u have questions; unfortunately, IPB trading is not a scope of this thread)

having said that, that IPB is tradable, IMHO. (IPB + RSI bull.div)
  • #3,849
  • Aug 3, 2010 5:20am Aug 3, 2010 5:20am
beautiful setup
Attached Image (click to enlarge)
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  • #3,850
  • Aug 3, 2010 8:47am Aug 3, 2010 8:47am
Quoting xeqter
beautiful setup

Nice trade...good spotting.

I especially like these type to get the pair back on trend. These are much less risky.


-Jacob
  • #3,851
  • Aug 4, 2010 3:37pm Aug 4, 2010 3:37pm
trade place and hit get out fast 15 pips..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 3 AUG BU PB BUY.gif Size: 27 KB
Click to Enlarge Name: 3 aug bu pb by tp hit.gif Size: 27 KB
FxHome
  • #3,852
  • Aug 5, 2010 6:40am Aug 5, 2010 6:40am
trade of the day....Both chart place trade and tp hit just 15 mints n out now waiting for A+ setup..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 5 aug uc buy.gif Size: 15 KB
Click to Enlarge Name: 5 aug uc buy pb tp hit.gif Size: 15 KB
FxHome
  • #3,853
  • Aug 5, 2010 7:19am Aug 5, 2010 7:19am
The above pins look like trades in chop my friend. The post above that is more along the lines!
  • #3,854
  • Aug 6, 2010 4:59am Aug 6, 2010 4:59am
CHart.....
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 6 aug ec buy pb.gif Size: 32 KB
Click to Enlarge Name: 6 aug ec buy pb tp hit.gif Size: 31 KB
FxHome
  • #3,855
  • Aug 6, 2010 5:32am Aug 6, 2010 5:32am
End of Trading in this week

total 3 trades and three are win

3 consicutive wins ..with 1:2 RR

Nice start
FxHome
  • #3,856
  • Aug 6, 2010 5:59am Aug 6, 2010 5:59am
Quoting Muhammad989
CHart.....
can you share your Tem and Ins......it looks beautiful
  • #3,857
  • Aug 6, 2010 6:20am Aug 6, 2010 6:20am
@muhammad989
Beautiful setup there. Hope yo got into that one
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #3,858
  • Aug 6, 2010 6:55am Aug 6, 2010 6:55am
Here Is my temps..Enjoy

Quoting lucas101
can you share your Tem and Ins......it looks beautiful
Attached File(s)
File Type: tpl 5 min scap pl temps.tpl   73 KB | 693 downloads
FxHome
  • #3,859
  • Aug 9, 2010 4:47am Aug 9, 2010 4:47am
Chart...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 9 aug pb at usd cad.gif Size: 24 KB
Click to Enlarge Name: 9 aug pb at usd cad tp hit.gif Size: 25 KB
FxHome
  • #3,860
  • Aug 10, 2010 12:02pm Aug 10, 2010 12:02pm
When I started in this, I got really frustrated when I saw the rest of members (supposedly) making tons of money, posting 95% winning rates and perfect charts. Somehow, I found out it wasn't at all true, that's the reason I try to post my losing trades, so that others learn from my mistakes and get a feel of what live trading really is, I still consider myself a student thou.

My chart: almost 2 weeks had gone by with only my taking 1 trade that resulted in BE, all that time made me lose control and pulled the trigger with this mediocre setup, the result of course FULL LOSS. I entered late, with a huge SL,against huuuge resistance, not at a swing low, stayed too long etc, etc.
Now I'm twice as eager to make a successful trade, the name of the game: PATIENCE
Attached Image (click to enlarge)
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