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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #4,261
  • Jun 8, 2011 11:14am Jun 8, 2011 11:14am
Quoting BlueGas
Trade closed with 30+ while risking -10 pips. Was playing with R:R- 1:3. Nice
Good job! Nice.
  • #4,262
  • Jun 8, 2011 11:23am Jun 8, 2011 11:23am
Yeah, second one would also be nice...But its easy to be smart now, as you see it
  • #4,263
  • Jun 8, 2011 11:33am Jun 8, 2011 11:33am
I got into this one also, im targettin last low, and putting sl at breakeven.Not sure if this A+ setup.
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  • #4,264
  • Jun 9, 2011 7:28am Jun 9, 2011 7:28am
I took this setup, ithink strong 10min pinbar. Gonna risk 7 pips to get 28. R:R- 1:4. Any opinions higly welcome
Edit.: Pure Stupidity,entering before the news, someone should slap me. :/
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  • #4,265
  • Jun 9, 2011 8:51am Jun 9, 2011 8:51am
Quoting BlueGas
I got into this one also, im targettin last low, and putting sl at breakeven.Not sure if this A+ setup.
How did this one turn out for you?
  • #4,266
  • Jun 9, 2011 8:52am Jun 9, 2011 8:52am
I took this one on the break of that pinbar for +96.
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  • #4,267
  • Jun 9, 2011 8:54am Jun 9, 2011 8:54am
Waiting to see if this will form a pinbar with this divergence as well.

Update: No pinbar on that candle close.
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  • #4,268
  • Jun 9, 2011 7:17pm Jun 9, 2011 7:17pm
Rode this pinbar for the ride back up.
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  • #4,269
  • Jun 13, 2011 1:17pm Jun 13, 2011 1:17pm
Took +20 on this one right before Obama spoke and things turned crazy. Max drawdown on this was -4 pips.
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  • #4,270
  • Jun 14, 2011 2:35am Jun 14, 2011 2:35am
I took this one, but got in bit faster on my own decison, but develop nice 20 min pinbar if you put 2 candles together, divergence also seen. Short @ 1.44662 risking -6 pips, target 22 pips. Also there was nice 20 min at last swing low, also took it.
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  • #4,271
  • Jun 14, 2011 4:23am Jun 14, 2011 4:23am
Exit 2/3 of position the rest will left run and stop to breakeven 4400 if we get there.
  • #4,272
  • Jun 15, 2011 10:59am Jun 15, 2011 10:59am
Quoting BlueGas
Exit 2/3 of position the rest will left run and stop to breakeven 4400 if we get there.
How many pips did you get off this trade?
  • #4,273
  • Jun 15, 2011 1:49pm Jun 15, 2011 1:49pm
Quoting jdcompute
How many pips did you get off this trade?
Last third was stopped out at breakeeven.
  • #4,274
  • Jun 16, 2011 6:56am Jun 16, 2011 6:56am
Im long @ 4103, sl 4094, Tp 4150, will watch it closely as it isnt really A+ 10min pinbar. R:R bit more then 1:5.edit. Stoped out, wasnt an A+ pinbar, got punished for not being patient enough to wait for an a+ setup.
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  • #4,275
  • Jun 16, 2011 10:38am Jun 16, 2011 10:38am
Hey Bluegas. Had 3 attempts today. Couple of b/e then I caught this one on EY which was nice.

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MD.
Keep smiling
  • #4,276
  • Jun 16, 2011 11:16am Jun 16, 2011 11:16am
Quoting BlueGas
Im long @ 4103, sl 4094, Tp 4150, will watch it closely as it isnt really A+ 10min pinbar. R:R bit more then 1:5.edit. Stoped out, wasnt an A+ pinbar, got punished for not being patient enough to wait for an a+ setup.
You got 'punished' for the 1:5 RR not for being impatient. It was a countertrend trade and you should've aimed for less pips. I've been trading the 5 minute chart for a long time and I've got some painful experiences from the past. Of course, I'm not telling you how to trade, just offering some advice that I thought might be useful.
If you don't risk, you don't ever have to lose.
  • #4,277
  • Jun 16, 2011 12:09pm Jun 16, 2011 12:09pm
Quoting bug
You got 'punished' for the 1:5 RR not for being impatient. It was a countertrend trade and you should've aimed for less pips. I've been trading the 5 minute chart for a long time and I've got some painful experiences from the past. Of course, I'm not telling you how to trade, just offering some advice that I thought might be useful.
True, advice taken, but maybe another mistake that trade was taken just before US open, when volatility starts to kick in,should have to wait bit more i guess. Oh well, on to the next one
  • #4,278
  • Jun 16, 2011 1:46pm Jun 16, 2011 1:46pm
Quoting BlueGas
True, advice taken, but maybe another mistake that trade was taken just before US open, when volatility starts to kick in,should have to wait bit more i guess. Oh well, on to the next one
On most days volatility does dry up around two hours after London open but I traded from pre-Frankfurt to US open today and I didn't notice any lack of volatility. However, as a rule of thumb, your observation is accurate.

By the way, I didn't notice it before, but one thing that could've saved you was placing your stop behind the candle's wick. This might seem like 'hindsight bias' but trust me, placing a stop behind the pin's wick (or tail, or whatever you want to call it) works. You have to make sure to avoid looooooong wicks, of course. If you're interested in taking hammers and other pin-like formations maybe you should take a peek at the latest pages on Vantage's Higher Lower, Higher High thread. I've learned a lot from them (it's Mr. and Mrs. V).
If you don't risk, you don't ever have to lose.
  • #4,279
  • Jun 16, 2011 3:21pm Jun 16, 2011 3:21pm
Quoting bug
On most days volatility does dry up around two hours after London open but I traded from pre-Frankfurt to US open today and I didn't notice any lack of volatility. However, as a rule of thumb, your observation is accurate.

By the way, I didn't notice it before, but one thing that could've saved you was placing your stop behind the candle's wick. This might seem like 'hindsight bias' but trust me, placing a stop behind the pin's wick (or tail, or whatever you want to call it) works. You have to make sure to avoid looooooong wicks, of course. ...
I meant, i think by experience, i its usually good to wait a bit, after opens London or US, cause usually its bit of shaking off. Hmm, Thought i did so, RR would be quite higher, not sure what r you aiming at, can you please explain bit more, i like different thoughts about it, 3 heads know more then one
  • #4,280
  • Jun 16, 2011 3:30pm Jun 16, 2011 3:30pm
Quoting bug
.... looooooong wicks...
The longer the wicks the stronger the "signal", on the other hand also bigger R:R, personally many times i like to see it develop, then next candle usually retraces a bit to the wick down or up, and then i like to enter @ that retracment just to get price cheaper and lower my R:R, but now i when i see it, i kinda think i was forcing it. Glad to see people sharing opinions i like it, makes me think
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