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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #4,121
  • Oct 26, 2010 11:39am Oct 26, 2010 11:39am
Quoting supremeChaos
Hello Adrian,
yeah i've seen it but havent tried it yet.
thanks for the reminder Sir!

Looks like a great thread here. Lots of you minting money But i see lots of changes from first post. Can someone please update the latest method being used? Just for help of newcomers. I personally dont mind digging through the thread for information
Making money is easy- Just dont take losing trades
  • #4,122
  • Oct 26, 2010 11:27pm Oct 26, 2010 11:27pm
Quoting Survivor
Looks like a great thread here
..i see lots of changes from first post...
Hello Survivor,
there is actually no change from the original method.
the 'tweaks' are mostly personal in nature.
i suggest u study right from the start (concentrate on Jankone, Ryanmcd posts). if u can, james16 thread is a must read.
then, if u feel necessary, tweak/expand from there. (not the other way around)

Good luck!
  • #4,123
  • Edited 10:19am Oct 28, 2010 9:50am | Edited 10:19am
Lets see where this one goes. May adjust SL and TP based on PA


Trade update; closed one for +14, SL hit on the other, -22
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  • #4,124
  • Edited 12:34pm Oct 28, 2010 10:34am | Edited 12:34pm
counter trend all day long.... Not the prettiest pin but in a better place, relative to Bollinger Bands

I didnt learn my lesson last time

Trade update; It worked out... Closed, +14 & +40...
maybe set up to go further but Im more of a scalper... trying to leave runners but not so good at that yet
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  • #4,125
  • Oct 28, 2010 11:20am Oct 28, 2010 11:20am
Quoting supremeChaos
Hello Survivor,
there is actually no change from the original method.
the 'tweaks' are mostly personal in nature.
i suggest u study right from the start (concentrate on Jankone, Ryanmcd posts). if u can, james16 thread is a must read.
then, if u feel necessary, tweak/expand from there. (not the other way around)

Good luck!

Thanks supreme for clarification. Will skim through and see if i can contribute something.
Making money is easy- Just dont take losing trades
  • #4,126
  • Oct 28, 2010 3:29pm Oct 28, 2010 3:29pm
Does anyone here know if its possible to set a default position size that takes into account your total account balance and your stop size.

E.g. if my account balance is £5000 and i wanted to risk 2% in total on a single trade (£100) with a stop loss of 10 pips, this would equal a position size of £10 per pip. Is it possible to set the options so that it calculates the units needed for this trade ?

Thanks
Dan

http://cdn.forexfactory.com/images/misc/progress.gif

  • #4,127
  • Oct 28, 2010 7:46pm Oct 28, 2010 7:46pm
You could use this indicator... just change the default settings to your account and to 2% risk equity and pull the red line up to your stop loss and itll tell you how many lots to trade... just download it to your indicators folder


Quoting dan89
Does anyone here know if its possible to set a default position size that takes into account your total account balance and your stop size.

E.g. if my account balance is £5000 and i wanted to risk 2% in total on a single trade (£100) with a stop loss of 10 pips, this would equal a position size of £10 per pip. Is it possible to set the options so that it calculates the units needed for this trade ?

Thanks
Dan

http://cdn.forexfactory.com/images/misc/progress.gif

Attached File(s)
File Type: ex4 Stop LOSS Calculator Size Calc v1.0.ex4   4 KB | 626 downloads
  • #4,128
  • Oct 28, 2010 7:53pm Oct 28, 2010 7:53pm
Sometimes patience pays... 49 pips on this all day trade
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  • #4,129
  • Oct 29, 2010 3:42pm Oct 29, 2010 3:42pm
Quoting dbeach777
You could use this indicator... just change the default settings to your account and to 2% risk equity and pull the red line up to your stop loss and itll tell you how many lots to trade... just download it to your indicators folder
thanks man will have to try this out ... you dont happen to know if its possible to set this sort of thing up in OANDA ?
  • #4,130
  • Oct 29, 2010 7:44pm Oct 29, 2010 7:44pm
Why would I??


Quoting dan89
thanks man will have to try this out ... you dont happen to know if its possible to set this sort of thing up in OANDA ?
  • #4,131
  • Oct 30, 2010 4:40am Oct 30, 2010 4:40am
Quoting dbeach777
Why would I??
lol. its cool now anyway ive got a spreadsheet where i can quickly type in the stop amount and it gives me all the info i need.

thanks
Dan
  • #4,132
  • Oct 30, 2010 6:05am Oct 30, 2010 6:05am
hi

is the original system still working ? is everyone making money ??
  • #4,133
  • Oct 30, 2010 6:23am Oct 30, 2010 6:23am
Yeah it work. Its not really a system its simply buying/selling pullbacks in a trend. Just using Pinbars as a confirmation. My opinion anway
  • #4,134
  • Oct 30, 2010 10:18am Oct 30, 2010 10:18am
Can anybody tell me what the purpose is of the sma 50 line, and what it is used for ? Can you use it for trend confirmation and entry positions ? It's not 100% clear to me as the 21 ema can also be used for this or to use it for an TP...

Thx
Chris
  • #4,135
  • Oct 30, 2010 11:50am Oct 30, 2010 11:50am
just use both to dertermine trend direction .. e.g. below 21 and 50 = downtrend. But this is always the case. just look at charts and you will see how to use them properly
  • #4,136
  • Oct 30, 2010 11:53am Oct 30, 2010 11:53am
Quoting dbeach777
You could use this indicator... just change the default settings to your account and to 2% risk equity and pull the red line up to your stop loss and itll tell you how many lots to trade... just download it to your indicators folder
Hey, you dont happen to know of an idicator that shows the pip range of the current candles high and low
  • #4,137
  • Oct 31, 2010 7:22am Oct 31, 2010 7:22am
Looking forward to trade 5min charts next to 4hr and daily and looking for more action now.

Reading this thread was very interesting and usefull.
Now backtesting and demo..

Thx jankone
  • #4,138
  • Oct 31, 2010 8:09am Oct 31, 2010 8:09am
Quoting dan89
Hey, you dont happen to know of an idicator that shows the pip range of the current candles high and low
That's easy, provided you're using MT4. Just click on your mouse wheel (or alternatively, the cross icon next to the arrow icon in the far left of the toolbar), and your cursor changes into that cross thingy. Now you can measure the height of the candle/range you're interested in, by simple click and drag. No indicator needed for this. All standard MT4.
It's not about how much you make, it's about how much you don't lose.
  • #4,139
  • Oct 31, 2010 12:11pm Oct 31, 2010 12:11pm
Quoting Dhb
That's easy, provided you're using MT4. Just click on your mouse wheel (or alternatively, the cross icon next to the arrow icon in the far left of the toolbar), and your cursor changes into that cross thingy. Now you can measure the height of the candle/range you're interested in, by simple click and drag. No indicator needed for this. All standard MT4.
hey DHB, yeah ive tried that but it doesnt show the range in pips...unless there is some settings for this thing
  • #4,140
  • Oct 31, 2010 2:52pm Oct 31, 2010 2:52pm
Dan,

In the picture below, I measured a range from 1.36500 to 1.36250, so that's 25 pips. At the end of the range, where my cursor would be, you can see the following numbers:

26/250/1.36250

Those numbers refer to the following:

1) 26 is the amount of bars, i.e., the horizontal distance between where I started to measure the range and where I stopped dragging the cursor to.
2) 250 refers to the number of 5 decimal pips, so that's 25.0 4 decimal pips
3) 1.36250, the price at which I stopped dragging the cursor down.

This is all standard MT4 stuff, and these figures are what you should see as well when measuring a range. If that's not the case, I'm afraid I cannot help. Never had any trouble with it.

Hope this helps?


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It's not about how much you make, it's about how much you don't lose.
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