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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #4,401
  • Oct 30, 2011 3:06pm Oct 30, 2011 3:06pm
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?

Well iam not trading this system but iam also trading M15 with RSI Divergence, countertrend, EU only , and the day you posted was one of the worst , it was a loosing day for me too. Dont worry those days happen from time to time. But i can assure you that after a while youre able to trade divergence profitable . Divergence of oscillators is at least the best attempt i found over the years ..

But as always you need screentime,screentime,screentime,screentime , youll get a feeling of good setups after while ...

Oh and by the way you posted a trade or two on low voltality times , i would skip trading EU when NY and London are closed , sometimes youll miss good setups specialy if youre a trend trader(which iam not) but it isnt worth the risk for me .
Iam trading from 8:00 to max 19:00(or is stop after two winners _(where BE trades are considered winners too) GMT+1 Those times are quite good on volume most days, and you simply need a target , iam not only talking about a tp , but you also need to know when to start and when to end , thats very important at least for me
Oh and always look for double and triple tops , in 90% of the cases theyll show divergence too and those are my best trades most of the time .
  • #4,402
  • Oct 30, 2011 3:23pm Oct 30, 2011 3:23pm
Quoting blutkehlchen
Well iam not trading this system but iam also trading M15 with RSI Divergence, countertrend, EU only , and the day you posted was one of the worst , it was a loosing day for me too. Dont worry those days happen from time to time. But i can assure you that after a while youre able to trade divergence profitable . Divergence of oscillators is at least the best attempt i found over the years ..

But as always you need screentime,screentime,screentime,screentime , youll get a feeling of good setups after while ...

Oh and by the way you posted a...
Thanks Blutkehlchen.

At this moment I'm confused re. London opening time etc.
Last week Frankfurt would open at 7am London time, London at 8am, New York at 1pm and Chicago at 2pm (all London time). Now there was change in British time - 1 hour back or forward. What about the European and American time? Did they change them last night?

What GMT would you trade tomorrow.

Regards
DR

PS I love double and triple tops/bottoms with divergence - traded that few times.
  • #4,403
  • Oct 30, 2011 4:09pm Oct 30, 2011 4:09pm
Hey DR

Yes youre right thats confusing specially if youre broker is in a third, totally different timezone, but youll find "tradingclocks"(dont know the english word) for every timezone all across the internet so this isnt a real problem.

Iam in GMT+1(Germany) so london opens at 9:00 for me , but ill start looking from franfurt opening at 8:00 my time , you dont have to worry about DST timechanges much, if your country has a DST time too

Good luck
  • #4,404
  • Oct 30, 2011 5:17pm Oct 30, 2011 5:17pm
Amazing ! to see lot of new ppl coming..welcome and good luck.
also i saw some of your trades, go to #1
and look at bars how they looks like and WHERE their position should be.
he must scream "here i am, happy to take me". not every bar that looks like pinbar and it's in choppy market...
but a lot of you guys made really some nice trades, keep it up! :-)
  • #4,405
  • Oct 31, 2011 5:17am Oct 31, 2011 5:17am
Quoting Jankone
Amazing ! to see lot of new ppl coming..welcome and good luck.
also i saw some of your trades, go to #1
and look at bars how they looks like and WHERE their position should be.
he must scream "here i am, happy to take me". not every bar that looks like pinbar and it's in choppy market...
but a lot of you guys made really some nice trades, keep it up! :-)

Thanks Jankone.

How true - especially on a short time frame - money can disappear in a short time as well if one is not very choosy with pin bars.

Much appreciate your generous posts.

Regards
DR
  • #4,406
  • Nov 11, 2011 6:27am Nov 11, 2011 6:27am
Thanks to Jankone for the great thread. I'm in the process of doing the 'Mark Douglas experiment of 20 consecutive trades. I'm finding that the location of the signal is 'as' important as the bar/divergence set up itself. Upper BB was breached but closed inside the bands ( false break ).
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  • #4,407
  • Dec 4, 2011 12:29am Dec 4, 2011 12:29am
Quoting Jankone
Amazing ! to see lot of new ppl coming..welcome and good luck.
also i saw some of your trades, go to #1
and look at bars how they looks like and WHERE their position should be.
he must scream "here i am, happy to take me". not every bar that looks like pinbar and it's in choppy market...
but a lot of you guys made really some nice trades, keep it up! :-)
hi, Jankone,

It makes me surprised to see you still working on this thread. I can't agree more about your trading psychology----management of greed, fear and impatience. Each trading system gets its little invalid moment. Accumulation of pips relies on winning rate and risk control, not on 100% win rate system.
it's too far away from the topic.sorry.
The first page of your pictures is out of run. It doesnt display. having read your strategy, i‘d like to see your sample pics. Would u please edit that for us?
one more questions. in one post, you suggested it's better to LONG when price action gave a uptrend. Under such condition, we should only consider a bullish hidden divergence?(higher lows in price, lower lows in indi.)

Have a nice weekend! dude

joey
  • #4,408
  • Dec 4, 2011 1:57am Dec 4, 2011 1:57am
hi,

i use it at m1 TIMEFRAME + add filter.
Attached File(s)
File Type: mq4 Ichimoku.mq4   5 KB | 457 downloads
  • #4,409
  • Dec 4, 2011 8:28am Dec 4, 2011 8:28am
How are you guys deciding when a pin is with the trend and counter trend? Is it using moving average cross over or higher highs and higher lows or some other method?
  • #4,410
  • Dec 4, 2011 11:42am Dec 4, 2011 11:42am
Read from Post 1. It's all there
every Saint has a past. Every Sinner has a Future
  • #4,411
  • Dec 4, 2011 11:45am Dec 4, 2011 11:45am
Quoting hotjoey
hi, Jankone,

It makes me surprised to see you still working on this thread. I can't agree more about your trading psychology----management of greed, fear and impatience. Each trading system gets its little invalid moment. Accumulation of pips relies on winning rate and risk control, not on 100% win rate system.
it's too far away from the topic.sorry.
The first page of your pictures is out of run. It doesnt display. having read your strategy, i‘d like to see your sample pics. Would u please edit that for us?
one more questions. in one post, you...
Read from Post 1. It's all there. All charts display perfectly. Make the effort -read and study from page 1.
every Saint has a past. Every Sinner has a Future
  • #4,412
  • Dec 4, 2011 11:50am Dec 4, 2011 11:50am
Quoting turnip15
Read from Post 1. It's all there
Thank you that's incredibly helpful.
  • #4,413
  • Dec 5, 2011 3:58am Dec 5, 2011 3:58am
Oneuniverse put this together and it will be of great benefit to read. Happy trades!
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File Type: doc best posts from Ryan.doc   2.4 MB | 1,511 downloads
  • #4,414
  • Dec 5, 2011 4:38pm Dec 5, 2011 4:38pm
This was put together by 'jduester'...many thanks to him.

Happy trades
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File Type: pdf Jankone's charts.pdf   1.3 MB | 1,610 downloads
  • #4,415
  • Dec 7, 2011 4:46pm Dec 7, 2011 4:46pm
Hello,

Here are my two first trades with this method. Im not big fan of showing my trades, but i can't look how this precious thread is dying. And im little bit suprised that nobody is posting here anymore. This method is pure gold, like Jankone said, maybe all of oldtimers of this thread are millionaires now, and have more interesting things to do now. And all you grammar masters, sorry for my english
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  • #4,416
  • Dec 14, 2011 1:08am Dec 14, 2011 1:08am
I wouldn't like to see the thread die, either. After a long journey looking for a trading system that matched my personality, I finally found this. I've been trading it since October with a very small account, and so far, it has worked perfectly, excepting the times when I decide to "bend" the rules...
Now, while I wait or the London Open in this crazy EURUSD market, will start re-reading the entire thread once again. Will also highly recommend the summary of Ryan MCDs comments posted a few days ago

Thanks a lot Jankone, for starting this thread!
  • #4,417
  • Dec 14, 2011 8:21am Dec 14, 2011 8:21am
Quoting Septem
I wouldn't like to see the thread die, either. After a long journey looking for a trading system that matched my personality, I finally found this. I've been trading it since October with a very small account, and so far, it has worked perfectly, excepting the times when I decide to "bend" the rules...
Now, while I wait or the London Open in this crazy EURUSD market, will start re-reading the entire thread once again. Will also highly recommend the summary of Ryan MCDs comments posted a few days ago

Thanks a lot Jankone, for starting this...
Hi Septem it's good to hear success stories. I was going to start back testing this next week. Can I ask what has been your win loss ratio and risk reward ratio so far?
  • #4,418
  • Dec 15, 2011 12:43am Dec 15, 2011 12:43am
Hi, hits. Mine isn't exactly a "success" story, at least not yet I'd call it the beginning of a journey.
So far in the past 3 months, win/loss ratio has been around 50/50. But instead of only taking pinbars, I've also tried with other reversal patterns, so that may affect the outcome.
Regarding R/R, I started using fixed 1:2, taking profit at a fixed 2R. But my psychology is still having a lot of problems with seeing trades go past 1R just to come back to break even, so I'm in the middle of an experiment here. I'm trying 1/3 at 1R (SL to BE), 1/3 at 2R, and the last third with a TS of 1R once 2R is reached. I'm going to compare this with the fixed 2R for a couple of months and see how it fares
Hope that helps.
  • #4,419
  • Dec 15, 2011 9:32am Dec 15, 2011 9:32am
Thanks for the feedback septem. Win loss 50/50 and 2R sounds great to me! I think this is where back testing will be useful.... to determine what R value is optimal.
  • #4,420
  • Dec 19, 2011 10:36am Dec 19, 2011 10:36am
I live in the UK and I get home around 6:30pm which is 1:30pm NY time, so that's the only period I can trade, unless I stay up all night for asian session. Wonder if that's enough time to trade this method?
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