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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #4,241
  • Apr 16, 2011 6:54am Apr 16, 2011 6:54am
Quoting jajo
Hi everybody I just wanted to bump this thread because it completely changed my life. I spent last year watching 5M charts for 12 hours/day including weekends and analyzed all pin setups on major pair for last few years. I picked up my own setups and situations when I have the highest probability to enter a successful trade. And guess what? I paid off. Last 5 months I finally have started making some serious money and quit my daily job Suddenly I have no boss, more time and some real LIFE! THANKS JANKONE!
I must post advice,

For me quit daily job is aboslutly risky,reson is becouse in Forex buissnese you dont have sure win and you wont have.Forex is second job where if you can eaern on yearly period you can say that you are profitable,my advice dont quit job for Forex that all i can say...

Anyway good piping

Petar
"Buy on fear, sell on greed !!!
  • #4,242
  • Apr 16, 2011 8:44am Apr 16, 2011 8:44am
Of course that it is dangerous to quit daily job and move to full time forex trading. I had a good job and was able to spend there majority of my time studying charts This post was just an ecouragement to newbies to work hard and follow your desires. I would like to share my knowledge with you but what works for me does not have to work for you too. I believe trading style depends on your personality. I don't want anybody to loose money because of my advice. Pin trading works, but remeber to add your own rules. Study charts and try to understand what is "behind" them.
  • #4,243
  • Apr 16, 2011 9:20am Apr 16, 2011 9:20am
Quoting jajo
Of course that it is dangerous to quit daily job and move to full time forex trading. I had a good job and was able to spend there majority of my time studying charts This post was just an ecouragement to newbies to work hard and follow your desires. I would like to share my knowledge with you but what works for me does not have to work for you too. I believe trading style depends on your personality. I don't want anybody to loose money because of my advice. Pin trading works, but remeber to add your own rules. Study charts and try to understand...
Don't concern yourself with that too much. If Jankone had thought along the same lines as you, we wouldn't have this thread. The only thing you have to keep in mind is not to talk too much about quitting one's job. As for charts and trading talk, bring it on. I've just finished skimming this thread myself and will probably start participating next week.
If you don't risk, you don't ever have to lose.
  • #4,244
  • Apr 16, 2011 10:37pm Apr 16, 2011 10:37pm
Quoting jajo
Of course that it is dangerous to quit daily job and move to full time forex trading. I had a good job and was able to spend there majority of my time studying charts This post was just an ecouragement to newbies to work hard and follow your desires. I would like to share my knowledge with you but what works for me does not have to work for you too. I believe trading style depends on your personality. I don't want anybody to loose money because of my advice. Pin trading works, but remeber to add your own rules. Study charts...
  • #4,245
  • Apr 17, 2011 8:02pm Apr 17, 2011 8:02pm
This thread looks interesting.

Love to hear of successes with this method, and I'm curious if anyone has traded this successfully between 6pm-10pm EST (NY time).
  • #4,246
  • Apr 18, 2011 2:24am Apr 18, 2011 2:24am
Quoting elway
This thread looks interesting.

Love to hear of successes with this method, and I'm curious if anyone has traded this successfully between 6pm-10pm EST (NY time).
I'm sure they have. The European open, the European-US overlap and the first half of the US session are the most active. See this for more details.
If you don't risk, you don't ever have to lose.
  • #4,247
  • Apr 18, 2011 3:59pm Apr 18, 2011 3:59pm
Quoting bug
I'm sure they have. The European open, the European-US overlap and the first half of the US session are the most active. See this for more details.
Thanks for the link. Interesting that there are some currencies that are farily active the first two hours of GMT. (I believe that is 6pm to 8pm EST).

I'd love to find a 2-hour period of time where I could usually get in one good trade a day and quit...
  • #4,248
  • Apr 18, 2011 4:17pm Apr 18, 2011 4:17pm
Quoting elway
Thanks for the link. Interesting that there are some currencies that are farily active the first two hours of GMT. (I believe that is 6pm to 8pm EST).

I'd love to find a 2-hour period of time where I could usually get in one good trade a day and quit...
The European session, starting from London open (8 am UK time) should be just for you. There is more information on sessions in the pdf files on the first post of this thread.
If you don't risk, you don't ever have to lose.
  • #4,249
  • Edited 11:20pm May 16, 2011 3:49pm | Edited 11:20pm
Hey, I dont know if anyone still trades this method or not, but it seems pretty interesting. I heard about Jankone from the J16 thread and wanted to check it out. Im looking at finding a system I can trade from 7am-12pm EST So Im going to be demoing and testing this through that Time frame. Here is a Few Entries from today. So far Im impressed with the system. Ill be trading the E/U, G/U, A/U, N/U, E/J, and U/Cf

N/U
http://img684.imageshack.us/img684/4005/jankone.gif

A/U
http://img580.imageshack.us/img580/4005/jankone.gif

E/J
http://img268.imageshack.us/img268/4005/jankone.gif

EDIT: I added my Current Template with all indicators
Attached File(s)
File Type: zip Jankone.zip   65 KB | 976 downloads
  • #4,250
  • May 17, 2011 4:57am May 17, 2011 4:57am
Hi Valinn,

I am encoporating the things from this method in to james16. I would suggest that if you are new to trading than to stick to fewer currncy pairs which are actively traded and have smaller spread.
you want to keep the cost to minimum...
Also, do demo hard and as the tf is small so requires experience and quick mindset when setting up the trades.
Trading is a test match not a Twenty20.
  • #4,251
  • May 17, 2011 5:13am May 17, 2011 5:13am
Hey man, thanks for the reply. Yes this will be strickly demo for two months, so far im 4/4 for +80 with a 20% ROI on Account. Im going to try to tinker with a few take profit ideas like take half off at +20 let the rest run. Or let the trades run till I get a Reversal Signal or the trade hits the 21EMA.
  • #4,252
  • May 17, 2011 1:48pm May 17, 2011 1:48pm
Day two with the strat proved one thing: ALL PINBARS ARE NOT CREATED EQUAL

I got caught up in the fast pace of 5m trading. Ive spent the last year and a half on 1hr or higher time frames. So I was a little trigger happy needless to say. In the Real world I went 3/8 with a -7% ROI. Not to bad considering yesterday I made a 20% ROI. But in a perfect world, I should have went 1/2 with a 3% ROI.

G/U (Loss)
http://img709.imageshack.us/img709/4005/jankone.gif

E/U
http://img268.imageshack.us/img268/1993/jankonev.gif
  • #4,253
  • May 17, 2011 2:33pm May 17, 2011 2:33pm
I trade mostly pinbars with divergence in the direction of the trend or countertrend. Either way, I have to have regular divergence or hidden divergence backing up my pinbars and I trade them only on 1HR timeframes. I have roughly 75% success rate doing it this way.
  • #4,254
  • Jun 4, 2011 7:45pm Jun 4, 2011 7:45pm
great to hear .
thank you

Quoting NiceGuy
I think I havent say this properly,

Hi Mr Jankone...
Thanks for everything.
You are awesome...


NG
  • #4,255
  • Jun 4, 2011 7:50pm Jun 4, 2011 7:50pm
Hello, thanks s lot. I d like to say

"You can be free. You can live and work anywhere in the world. You can be independent from routine and not answer to anybody. This is life of a a successful trader. "

(Dr Elder in his Trading for a living)

this is one of the biggest reasons why I do, what I do.

FREEDOM



:-)

Quoting jajo
Hi everybody I just wanted to bump this thread because it completely changed my life. I spent last year watching 5M charts for 12 hours/day including weekends and analyzed all pin setups on major pair for last few years. I picked up my own setups and situations when I have the highest probability to enter a successful trade. And guess what? I paid off. Last 5 months I finally have started making some serious money and quit my daily job Suddenly I have no boss, more time and some real LIFE! THANKS JANKONE!
  • #4,256
  • Edited 7:13am Jun 7, 2011 7:01am | Edited 7:13am
Quoting Jankone
Hello, thanks s lot. I d like to say

"You can be free. You can live and work anywhere in the world. You can be independent from routine and not answer to anybody. This is life of a a successful trader. "

(Dr Elder in his Trading for a living)

this is one of the biggest reasons why I do, what I do.

FREEDOM



:-)
I knew this sentence of Elder (it was in french) , because it's one of my first book i have read.


Very great emotions when you started the book and you read that, it's whaoooo

I hope one day i can make a living with trading, i work hard to reach this goal

Thanks for the thread jankone
I hear and I forget. I see and I remember. I do and I understand.
  • #4,257
  • Jun 7, 2011 3:23pm Jun 7, 2011 3:23pm
everything is real


Quoting boubafx
I knew this sentence of Elder (it was in french) , because it's one of my first book i have read.


Very great emotions when you started the book and you read that, it's whaoooo

I hope one day i can make a living with trading, i work hard to reach this goal

Thanks for the thread jankone
Attached Image
  • #4,258
  • Jun 8, 2011 7:43am Jun 8, 2011 7:43am
I think this is A pinbar on 10min chart. There is divergence, also psych level @ 4600. Im taking this one, also its with trend if you look bigger timeframe.
Attached Image (click to enlarge)
Click to Enlarge Name: eu10.png Size: 32 KB
  • #4,259
  • Jun 8, 2011 8:40am Jun 8, 2011 8:40am
Trade closed with 30+ while risking -10 pips. Was playing with R:R- 1:3. Nice
  • #4,260
  • Edited 8:51am Jun 8, 2011 8:46am | Edited 8:51am
Hmm. Maybe overtrading but i took short risking 6pips, counting on 12+.Lets see.
Im putting stoploss to breakven, no need to give back.
Edit. Taking off the table, another pinbar formed.
Attached Image (click to enlarge)
Click to Enlarge Name: eu5.png Size: 33 KB
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