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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #4,161
  • Nov 9, 2010 11:13am Nov 9, 2010 11:13am
Quoting Heavenforex
took this too but got stopped out by a couple of pips... hope anyone can comment i did right or wrong with this pinbar which I suppose is with trend?
Heah Heaven,
In such cases, I wait for a break of 'high' of the pin bar (or any bar) by a pip or so.
Tc..
K Singh.
  • #4,162
  • Nov 9, 2010 11:25am Nov 9, 2010 11:25am
Hi King singh,

oh yea I read that some traders here only trade the breakout of the PB... never thought of trying that....its just doing that the stoploss will be bigger and thus the take profit is also further...

nonetheless i will try the breakout strategy...thanks!
  • #4,163
  • Nov 9, 2010 12:27pm Nov 9, 2010 12:27pm
Quoting dan89
Another slow-ass day. How did you guys find it ? I think i will check out the threads DHB lol since im getting 0 signals the last week . Im trying to follow RyanMCD way of trading- trend only, pins at 21 ema. Ive been though most of his posts and this is basically what he does. (as far as im aware).
Again, if you only focus on pins at the 21 EMA, you'll find that there are more slow-ass days than not. But if you look at the bigger picture and get a feeling for market rhythm and price action, you'll find there are plenty of opportunities almost every day.

I've included two charts: Fiber and Cable, today's London session. I've highlighted a few setups. NB: these are not setups as per this thread. They are the result of how I now look at charts, after lots and lots of reading and chart time.

If the setups I highlighted don't make sense to you now, please go through J16's thread, this thread, all of Ryanmcd's posts and charts, Vantage's higher low, lower high thread, Philip Nel's intraday M5 thread and Trade Price's two price action threads, and I can assure you, they will make at least some sense when you've read all of that.

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It's not about how much you make, it's about how much you don't lose.
  • #4,164
  • Nov 9, 2010 1:39pm Nov 9, 2010 1:39pm
Quoting Heavenforex
took this too but got stopped out by a couple of pips... hope anyone can comment i did right or wrong with this pinbar which I suppose is with trend?
Its not really a pinbar.
  • #4,165
  • Edited 6:04pm Nov 9, 2010 4:14pm | Edited 6:04pm
Quoting Dhb
Again, if you only focus on pins at the 21 EMA, you'll find that there are more slow-ass days than not. But if you look at the bigger picture and get a feeling for market rhythm and price action, you'll find there are plenty of opportunities almost every day.

I've included two charts: Fiber and Cable, today's London session. I've highlighted a few setups. NB: these are not setups as per this thread. They are the result of how I now look at charts, after lots and lots of reading and chart time.

If the setups I highlighted don't make...
Hey DHB thanks for posting your charts. Im just starting to read the higher lower thread i kinda understand your charts .. some of the trades anyway. could you not add a few notes on the chart just to give me a boost ?
thanks
Dan
  • #4,166
  • Nov 10, 2010 4:34am Nov 10, 2010 4:34am
Quote
Again, if you only focus on pins at the 21 EMA, you'll find that there are more slow-ass days than not. But if you look at the bigger picture and get a feeling for market rhythm and price action, you'll find there are plenty of opportunities almost every day.
Hi ya Dhb..

I was wondering if you could give some input on the Keltner Channel (Trade Price thread) compared to the Bollinger Bands if you have used them before please?

Cheers,
Adrian
  • #4,167
  • Nov 10, 2010 6:12am Nov 10, 2010 6:12am
Quoting aarangio
Hi ya Dhb..

I was wondering if you could give some input on the Keltner Channel (Trade Price thread) compared to the Bollinger Bands if you have used them before please?

Cheers,
Adrian
I never really used the keltner channels, so there's little I can say about them. Both keltner and bollinger channels can be used as a visual aid to see if there is a trend, what direction the trend is in, and whether price is overextended or not, so I suppose it's really a matter of personal preference which to use.

Imho, what's most important is to learn from Trade Price's threads to recognize impulsive and corrective waves. Which channel to use is a moot point. With a little practice, you won't even need indicators. Maybe one or two moving averages, but it's all about price action really.
It's not about how much you make, it's about how much you don't lose.
  • #4,168
  • Nov 10, 2010 6:27am Nov 10, 2010 6:27am
Quoting Dhb
I never really used the keltner channels, so there's little I can say about them. Both keltner and bollinger channels can be used as a visual aid to see if there is a trend, what direction the trend is in, and whether price is overextended or not, so I suppose it's really a matter of personal preference which to use.

Imho, what's most important is to learn from Trade Price's threads to recognize impulsive and corrective waves. Which channel to use is a moot point. With a little practice, you won't even need indicators. Maybe one or two moving...
Hi ya Dhb..

Thank you for your help and advice..
I'm starting to realise now just about every system there seems to be out there has some element of P/A, S/R involved and as you say maybe one or two moving averages thrown into the mix gives you a simple workable yet profitable system with a bit of practise..

Cheers,
Adrian
  • #4,169
  • Nov 14, 2010 8:38am Nov 14, 2010 8:38am
Quoting Dhb
Again, if you only focus on pins at the 21 EMA, you'll find that there are more slow-ass days than not. But if you look at the bigger picture and get a feeling for market rhythm and price action, you'll find there are plenty of opportunities almost every day.

I've included two charts: Fiber and Cable, today's London session. I've highlighted a few setups. NB: these are not setups as per this thread. They are the result of how I now look at charts, after lots and lots of reading and chart time.

If the setups I highlighted don't make...
BINGO!
  • #4,170
  • Nov 19, 2010 9:32am Nov 19, 2010 9:32am
ct/div + pin. got out -8. still stalling now
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  • #4,171
  • Nov 19, 2010 12:01pm Nov 19, 2010 12:01pm
Quoting dhh
ct/div + pin. got out -8. still stalling now
Hey dhh, I've never been a fan of the CT trades (mainly haven't tested them enough) but just wanted to share something. If you look at price, the angle of the mid bb, and the angle of the ma's you can see that price is clearly moving down. Just because you had a pin and some divergence doesn't mean that the move is over, divergence can certainly help show that but it isn't the end all be all in determining a reversal. However if you followed your rules, which it appears to be you did, then you can say it was a good trade.

Just as a suggestion however, consider only taking the CT + Div setups when the BBs are flat or at least flatter (ie. when there is less of a trend or weaker/less clear momentum).

Take care,

Chris
  • #4,172
  • Nov 23, 2010 2:40pm Nov 23, 2010 2:40pm
Anyone still trade this method? Great trend trades today on a lot of pairs, I only trade the EU 5min now because otherwise the spread just eats up too much. Missed all the thumbs down (yes I was kicking my self a bit), no they are not all perfect but we had a solid down day, PA off the Mid bb (not shown) or 21 as it retraces to previous lows (acting as PPZ). I took a loss on the first arrow, didn't really like the retrace felt it was a bit overextended and could retrace more but traded it anyway cause of the strong trend, then got in on the 2bar pin off the 21 ema for a beauty of a runner. I use a straight 2r stop now. Be at 1R.
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  • #4,173
  • Nov 23, 2010 4:27pm Nov 23, 2010 4:27pm
Great day today for shorting whatever.

Cable was dropping like a rock today as well, but today's winner has to be EJ.
It's not about how much you make, it's about how much you don't lose.
  • #4,174
  • Nov 24, 2010 9:14am Nov 24, 2010 9:14am
Quoting stoli7188
Hey dhh, I've never been a fan of the CT trades (mainly haven't tested them enough) but just wanted to share something....
Yes I do look at the angle of MA etc when I trade my other technique. Like you said, I currently only follow the simple rules of this particular technique.
The CT + Div when BB is flat is actually the 3rd set up, so I'm keeping eyes for them too
  • #4,175
  • Nov 24, 2010 9:17am Nov 24, 2010 9:17am
Haven't seen these with trend pins for long time, then I missed this one.
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  • #4,176
  • Edited 3:25am Nov 29, 2010 3:11am | Edited 3:25am
My first trade using this method


UPDATE:killed it. Entry bar became a bullish bar after my entry.
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  • #4,177
  • Nov 29, 2010 7:24am Nov 29, 2010 7:24am
awesome m5 pinbar, GREAT LOCATION.
pinbar is not so big, but he has great location after big trend, div...
these kind of trades our A+
he's like the flag on the Mount Everest...
it's picking up the cherry from the cake..
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  • #4,178
  • Nov 29, 2010 10:39am Nov 29, 2010 10:39am
they say that when you trend trade you only lose when you happen to pick the top/bottom.

well....many times just you do! too bad!
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  • #4,179
  • Nov 29, 2010 10:53am Nov 29, 2010 10:53am
Tough break there, Judith.

Don't forget that EU had already dropped some 200 pips since the opening of Frankfurt this morning. That's already way more than its normal daily range. For what it's worth, in such a situation, when entering with the trend like you did, I would have moved my stop to breakeven asap. The best trades never come back anyway, and if they do come back to stop me out for b/e, oh well...
It's not about how much you make, it's about how much you don't lose.
  • #4,180
  • Nov 29, 2010 11:01am Nov 29, 2010 11:01am
Quoting Dhb
Tough break there, Judith.

Don't forget that EU had already dropped some 200 pips since the opening of Frankfurt this morning. That's already way more than its normal daily range. For what it's worth, in such a situation, when entering with the trend like you did, I would have moved my stop to breakeven asap. The best trades never come back anyway, and if they do come back to stop me out for b/e, oh well...

Well said. I would've taken a BE on this trade, ended up passing because I wasn't 100% in love with the size of the pin but it was a very tradeable setup.

Judith what was your exit strategy?

I have been running a 2:1 TP and a BE at about 1:1. I say about because if breaks 6-8 pips on a 10 pip bar I will usually move to BE at this point.
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