Jankone M5 thread

Hello Walcott,
your method looks ok.
do u trade 4 positions per trade? or divide your position into 4 (exits)? i asked because u said "When 1R:R is reached, I move my SL at BE and I close 1/4 of my position"

1 suggestion, dont be 'too engrossed' with R/R. better to base your exits on S/R, PPZs.
u can read more here
http://www.forexfactory.com/showpost...ostcount=71842

u can post charts here to get more insights, if u want.

supremeChaos,

There is your answer :

I divide my position into multiple exits. The first based on RR and the rest on confluence zones.

The reason I close 1/4 of my position" on 1 R:R is to take advantage of the pinbar impulsion (momentum). It happens often to see the price falling to BE after 1 or 1,5 R/R. This way I can turn a BE into a winner to pay back my loosing trades.
It's a conservative approach

Walcott,
Thanks for clarifying.

Anyone get this?

Its true, I placed the trade before the pin had formed, but I was counting on the stop hunting level in the .3505 area, so risked it, plus divergence was already there.


trade update; closed for +35 although my gut feeling is that this could drop a lot more... my weakness is not letting winners run

Now going the other way

trade update: closed: averaged out of 3 positions... +10,20,25
Nice CT movement this morning!

1st trade in 3 days .....

t p2 kiss and out now free trade set BE now....

Hi guys, I see two possible trades on EURUSD this morning -- can anyone comment to see if they are viable --they seemed to have worked out ok --cheers


---also, I cannot seem to figure out how to enlarge my screeen shot on ms paint so I may get a large screen on this post-- if anyone can let me know how to do it -- would appreciate it.

...

edit: ..I thought you were using MT4

cant see what your platform is.
anyway, start by zooming in a bit. see the latest charts here.
& u dont have to capture & post the whole chart. u can just post the latest +/- 50 - 100 bars.

chart.......

do you meen two moving avarage?
cna't see them in the meta traider' or is there another name for them?

Hello oflaya,
ema = exponential MA
sma = simple MA
it is found inside metatrader as an indicator (look for 'Moving average'.. change the settings as necessary... MA Method = 'Simple' for SMA, etc)

charrrt.........

too near to swing low and bullish wicks to me but still good find!

I saw the 2 moving averages u used in your last trade.Please what is the value of each.Also tell me whether it is simple/exponential or weighted.

chart.........stoploss hitting...

update........chartttt

out manuly ........save the trade b4 news .....

Hi Muhammed,

Why didn't you get out of that trade much sooner (for breakeven or a very small loss)? The first three candles that formed after you went short indicated that the bearish momentum of the hours before was over.

Now please correct me if I'm wrong, but it seems you stayed in because you were HOPING for price to still go down. Hope is never a good thing in trading, and there's always a new trade just around the corner. Taking a small loss because the trade doesn't take off is not a bad thing to do, my friend. On the contrary.