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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #4,381
  • Sep 3, 2011 8:36pm Sep 3, 2011 8:36pm
Hello Redart ,

I think Fyrana has given your answer

cheers
Winston
Trading is a delicate balance of Strategy , Money management and Psychology
  • #4,382
  • Sep 9, 2011 3:45am Sep 9, 2011 3:45am
Quick profit on pin, down trend EUR/USD.
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  • #4,383
  • Sep 12, 2011 7:00am Sep 12, 2011 7:00am
CT trade pin + divergence EUR/USD
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  • #4,384
  • Sep 12, 2011 9:47am Sep 12, 2011 9:47am
One of the best
Pin with up-trend and divergence EUR/GBP

BE on 5 pips profit because we don't want this to be a loser.
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  • #4,385
  • Sep 30, 2011 3:45am Sep 30, 2011 3:45am
Hello guys,
I did some experiments to help traders to find setup according my formaton and i found very good coleration with Jankon system for wich i think that is one of the best scallpers methodes.I dont trade scallper i trade VOlume channel analysis but anyway i want to help.

My thread is http://www.forexfactory.com/showthread.php?t=251378

I know very well Jankone system and think that my formation can help for better setups..

This is example from yesterday EURUSD sell...
Cheers
Petar
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"Buy on fear, sell on greed !!!
  • #4,386
  • Oct 6, 2011 6:04am Oct 6, 2011 6:04am
ONe setup from bolinger mid with good pin,pin setup and my formation...Clear sell we will see..

Cheers
Petar
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"Buy on fear, sell on greed !!!
  • #4,387
  • Oct 13, 2011 9:03pm Oct 13, 2011 9:03pm
nice to see that you make some really nice trades guys.
  • #4,388
  • Oct 24, 2011 3:44am Oct 24, 2011 3:44am
Div + pinbar with the trend. Not a perfect pinbar but i guess like he always says the trend does the magic for a quick 20pips. Thanks for shown this treasure
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Let God be true, and every other man be a liar
  • #4,389
  • Oct 25, 2011 4:28am Oct 25, 2011 4:28am
Nice - I would not have spotted that.
  • #4,390
  • Oct 25, 2011 4:48am Oct 25, 2011 4:48am
Another EURUSD 5 min divergence -- a few hours after above trade
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  • #4,391
  • Oct 28, 2011 3:49pm Oct 28, 2011 3:49pm
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  • #4,392
  • Oct 29, 2011 9:55am Oct 29, 2011 9:55am
Quoting oneuniverse
I 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...
Thanks OU

Do you use any other indicators?
If so would you care to post them.

Regards DR
  • #4,393
  • Oct 29, 2011 10:55am Oct 29, 2011 10:55am
Quoting demoreal
Thanks OU

Do you use any other indicators?
If so would you care to post them.

Regards DR
I 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?
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  • #4,394
  • Oct 29, 2011 11:17am Oct 29, 2011 11:17am
Quoting demoreal
I 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?
Hey, 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 in trend as well.
I dream, therefore I become.
  • #4,395
  • Oct 29, 2011 11:58am Oct 29, 2011 11:58am
Quoting mike w
Hey, 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...

Hi Mike.

Thanks for your observations about the chart. For me 2nd and 5th signal/pin bar are diverging = price is making higher high and RSI is making lower highs. So as I understood the entries would be according to the system - countertrend with divergence? BTW both failed this time.

I've been trying to find a good system. Was checking 'Trading Made Simple', then 'The System II', then this one. They are all sort of a biscuit short of a packet - kind of nice when you have a look at what happened.

On the other hand if you try to guess where the price is likely to go on the right hand side of the chart then it becomes more difficult. If only there was a broker to let me do some hindsight trading.

PS Have you find any system with a reasonable success rate? (reasonable=more than 60%)
  • #4,396
  • Oct 30, 2011 8:54am Oct 30, 2011 8:54am
Will someone post the post number where using the BBs is discussed. I tried to do a search on this thread but I haven't been successful. Much appreciated, thank you. p.
  • #4,397
  • Oct 30, 2011 9:10am Oct 30, 2011 9:10am
Quoting demoreal
PS Have you find any system with a reasonable success rate? (reasonable=more than 60%)
Did 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.
Another (reasonable) question can be: Is a method/system suitable for me? - in the sense that I feel comfortable with it, and that I can meet the methodīs requirements (e.g. timewise). But thatīs another story.

You really can save yourself a ton of time if you start it right. My recommendation is: Read the Jankone M5 thread from the start. Donīt rush it. Let go of your impatience. Take your time to really read each post - especially the ones by Jankone and Ryanmcd. There is a ton to be learned in these few pages, not only technical stuff, but a lot on psychology.
I know itīs hard to accept that advice, and even harder to actually follow it. Maybe youīre not ready yet - only few are in such early stages. I wish I had been ready back then, it would have saved me a good 4-5 years.

I wish you all the best
RM
  • #4,398
  • Oct 30, 2011 12:20pm Oct 30, 2011 12:20pm
Quoting Rainmaker
Did 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.
Another (reasonable)...
Hi RM.

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.

Best wishes
DR
  • #4,399
  • Oct 30, 2011 1:41pm Oct 30, 2011 1:41pm
Quoting demoreal
Hi RM.

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.

Best wishes
DR
When 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 same).
Just consider this - if Jankones method was so easy everyone would be rich - it is not a black box system but merely a method in which the outcome is very much determined by the pschology of the trader!
every Saint has a past. Every Sinner has a Future
  • #4,400
  • Oct 30, 2011 1:54pm Oct 30, 2011 1:54pm
Quoting turnip15
When 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...
Thanks for the advice Turnip.

I'll need to spend some time learning about pins etc.:nerd:

However I'd prefer the system's higher success rate, so I can blame myself (the psychology) if the outcome is not satisfactory.
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