Trading is a delicate balance of Strategy , Money management and Psychology
James16+Rayanmcd(Jan kone) and ME 7 replies
DislikedI have been using Jankone method since a long time now.
I want to share my experience so that it may be useful for struggling traders
Jankone CT setups give quick profits and he calls then ' Quick pips in the Bank '. IMHO, the CT setups which occur near imp round numbers like the ones ending in 00 or multiples of 100 pips there after are worth trading. They really give quick pips in the bank. If you are not greedy, 1:1 RR will do fine and more than 80% of time this TP will be hit. Also note the pins occuring near important pivots.
So in summary...Ignored
Do you use any other indicators?
If so would you care to post them.
DislikedI had a quick look with recomended settings and if I took all the pin bars as indicated there would be 40% success rate with the risk/reward 1/1. Doesn't look promising.
Maybe I didn't use the right settings?Ignored
DislikedHey, how's it goin Demoreal?
I counted 3 that I would have traded on this chart (Of the 3, one was with the trend). You have to wait for the pins that have all the right symptoms of a good setup. Most of the ones you posted were not divergent in price and they weren't protruding from the BB. For the most part, the CT pins that work out are the ones that are after a run (Preferably close to a round), protruding the BB, and are divergent. Much higher hit rate than 40% if you use that as a template.
Don't forget to work with the pins that are...Ignored
DislikedPS Have you find any system with a reasonable success rate? (reasonable=more than 60%)Ignored
DislikedDid you read the whole thread from the beginning?
I guess not because otherwise you wouldnīt be asking these questions / making these comments.
You posted a screenshot of your chart, marked all "pinbars" and calculated some win% and expectancy out of these few trades? Come on, how serious can that be?
This method is profitable, it works - in the hands of a trader with the right mindset. There are many profitable methods/systems around here on FF - all of them "work", and none of them - it just depends on you, the trader.
Thanks for the advice.
I've read through the first 20 pages of the thread. Agree with you about Jankone and Ryanmc posting good posts.
I'll have a look again - of course I wouldn't trade the system with the real money. Only based on that random choice of 10 different quality signals 40% worked. I was disappointed with that 2nd and 5 th signal faiure - according to Jankone they should have been easy money - counter trend with divergence.
DislikedWhen you get more experience (and a willingness to listen and look) you will learn that all trades will not result in wins no matter whether or not thay looked "easy." You show that you have a lot to learn in identifying good pins and evaluating them in the light of surrounding info. Even then, as stated above, all decisions will not result in wins -how you handle these and manage them will determine if you will make it. Above all - the biggest obstacle to success is your self (Sound glib but any experienced successful trader will tell you the...Ignored