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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #4,101
  • Oct 20, 2010 5:26am Oct 20, 2010 5:26am
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  • #4,102
  • Oct 20, 2010 9:27am Oct 20, 2010 9:27am
did any body else notice this year's summer was pretty bad for trading this methods, I went for whole weeks without a decent setup, thankfully it kept me out of bad trades too.
This is today's trade, missed my TP by 0.3 pips!!!
I finally I broke even...
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  • #4,103
  • Oct 20, 2010 9:38am Oct 20, 2010 9:38am
Quoting judith
did any body else notice this year's summer was pretty bad for trading this methods, I went for whole weeks without a decent setup, thankfully it kept me out of bad trades too.
This is today's trade, missed my TP by 0.3 pips!!!
I finally I broke even...
Yes ma'am. I ended up doing A LOT of countertrend and peak/trough work this past summer due to the ineffectiveness of price sticking to the 21 for the trend. You're not alone. I'm going to send you a PM Judith.
I dream, therefore I become.
  • #4,104
  • Oct 21, 2010 1:09am Oct 21, 2010 1:09am
mike w, how do you use EMA21 for trend pb ? You wait a pullbull on EMA21 and then wait for a IT pinbar A+ ? It's the classic way to use it.. perhaps you have the some rule as Jasaw witch is never take a PB when pb close under EMA21 (for a long) ?

Thx for your time,
Wal
  • #4,105
  • Oct 21, 2010 10:20am Oct 21, 2010 10:20am
I think the US session is back!
two trades,
I captured the first one just as the the bar closed, notice those two bigger than average bearish bars, that for me is a clear sign of momentum, then we got a nice retracement with 4 bars moving up in an orderly fashion, a small pin which gives shorter stop =bigger leverage ( a no brainer for me). the result: full loss of 13.2 pips, Stopped out by 1.4 pips ; it's ok, i followed my system.

then I entered again (short off course) at the break of the very same bar that SL'ed me out, and now we finally get a move down, result: +22.3 pips

net: +9.1pips
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  • #4,106
  • Oct 21, 2010 10:35am Oct 21, 2010 10:35am
And sometimes you get lucky... Got +91 pips off this one... had more orders higher up that didn't get triggered though
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  • #4,107
  • Oct 21, 2010 10:53am Oct 21, 2010 10:53am
Quoting judith
I think the US session is back!
two trades,
I captured the first one just as the the bar closed, notice those two bigger than average bearish bars, that for me is a clear sign of momentum, then we got a nice retracement with 4 bars moving up in an orderly fashion, a small pin which gives shorter stop =bigger leverage ( a no brainer for me). the result: full loss of 13.2 pips, Stopped out by 1.4 pips ; it's ok, i followed my system.

then I entered again (short off course) at the break of the very same bar that SL'ed me out, and...

I did not get a pin bar on my feed. more of a doji .. price never passed its high though. Still, nice analysis of the chart and in profit at the end of the day .. nice one

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  • #4,108
  • Oct 21, 2010 11:27am Oct 21, 2010 11:27am
Quoting dan89
I did not get a pin bar on my feed. more of a doji .. price never passed its high though. Still, nice analysis of the chart and in profit at the end of the day .. nice one

Attachment
It was the previous wave, the pin I'm pointing out opened at 12:00 EST, the one you mention is 13:10 EST.
  • #4,109
  • Oct 21, 2010 11:39am Oct 21, 2010 11:39am
Quoting judith
It was the previous wave, the pin I'm pointing out opened at 12:00 EST, the one you mention is 13:10 EST.
ahh i see lol. They looked really similar .. sorry about that
  • #4,110
  • Oct 21, 2010 5:38pm Oct 21, 2010 5:38pm
Quoting dbeach777
And sometimes you get lucky... Got +91 pips off this one... had more orders higher up that didn't get triggered though
hey beach, nice 30min trade. just curious, what was your logic in getting out at +91? ie. how did you manage your trade and decide your exit?

thanks
  • #4,111
  • Oct 21, 2010 9:28pm Oct 21, 2010 9:28pm
How I managed the trade...

Well honestly, I might've closed it earlier but I was away from the computer and when I came back it was sitting on support, and a small neutral bar was about to form so I thought it was a logical place to close the trade. I had not set a profit target when I placed the trade as I was hoping it would drop the way it did, or more. As it happened, it did drop a bit more before retracing but I was happy getting what I did.
Hope that makes sense

Quoting stoli7188
hey beach, nice 30min trade. just curious, what was your logic in getting out at +91? ie. how did you manage your trade and decide your exit?

thanks
  • #4,112
  • Oct 21, 2010 10:06pm Oct 21, 2010 10:06pm
Quoting Walcott
.. never take a PB when pb close under EMA21 (for a long) ?....
if a PB closes below 21ema, then price is weak.
if u are bullish, u have to wait for price to move back above 21ema, & enter ideally with PA setups (PB, etc).

Quoting dbeach777
And sometimes you get lucky... Got +91 pips off this one... had more orders higher up that didn't get triggered though
i think it's experience, not luck.
  • #4,113
  • Edited 6:35am Oct 22, 2010 6:19am | Edited 6:35am
Ok Lets see what happens here... Risking 13 pips, target 100 pips.
Reasons for trade. Double top, divergence, M5 rejection at weekly pivot, overall bearish look on higher time frame

update; closed half at +22, leaving original SL in place for now
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  • #4,114
  • Oct 22, 2010 10:22am Oct 22, 2010 10:22am
Quoting dbeach777
Ok Lets see what happens here... Risking 13 pips, target 100 pips.
Reasons for trade. Double top, divergence, M5 rejection at weekly pivot, overall bearish look on higher time frame

update; closed half at +22, leaving original SL in place for now
Hi dbeach,

Nice trade. Good thing you closed only half.

Btw, what's that indicator you use that inserts h1, d1 etc. in your m5 chart?
It's not about how much you make, it's about how much you don't lose.
  • #4,115
  • Oct 22, 2010 1:51pm Oct 22, 2010 1:51pm
I closed another portion of that trade for +60 and holding the rest over the weekend.

As for the indicator you asked about. Its the stratman mini chart indicator. You can find it on this thread, although there are several different versions available now. There is one that allows a moving average, which I'd like, but havent figured that one out yet.
http://www.forexfactory.com/showthread.php?t=198729


Quoting Dhb
Hi dbeach,

Nice trade. Good thing you closed only half.

Btw, what's that indicator you use that inserts h1, d1 etc. in your m5 chart?
  • #4,116
  • Oct 22, 2010 3:35pm Oct 22, 2010 3:35pm
Lol, it's always nice to have an M5 scalp develop into a higher TF big win trade, isn't it?

And thanks for the referral. That indicator has potential to be useful.
It's not about how much you make, it's about how much you don't lose.
  • #4,117
  • Oct 23, 2010 2:45pm Oct 23, 2010 2:45pm
Quoting dbeach777
I closed...
i havent extensively used it...but from what i know,
u got to have the correct font on Windows 'Fonts' folder.
then on the indicator's input parameters, set 'MAMode' to true
if u dont have the correct font installed, your MA will appear as clustered letters (looks like clumped red blood cells).
check his threads if necessary.
  • #4,118
  • Oct 25, 2010 7:51am Oct 25, 2010 7:51am
Got it! Thanks Chaos! I didn't have the proper indicator with MaMode. Its this one, pipware-minichart-v3.0, located at www.pipware.com


Quoting supremeChaos
i havent extensively used it...but from what i know,
u got to have the correct font on Windows 'Fonts' folder.
then on the indicator's input parameters, set 'MAMode' to true
if u dont have the correct font installed, your MA will appear as clustered letters (looks like clumped red blood cells).
check his threads if necessary.
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  • #4,119
  • Oct 26, 2010 12:40am Oct 26, 2010 12:40am
Hi ya SupremeChaos, Dbeach777..

Not sure if you've seen this yet but this is his new Pipware charts set up.... A lot more changeable with extra features:
http://www.forexfactory.com/showthre...10#post3535710

Cheers,
Adrian
  • #4,120
  • Oct 26, 2010 5:27am Oct 26, 2010 5:27am
Hello Adrian,
yeah i've seen it but havent tried it yet.
thanks for the reminder Sir!
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