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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #4,661
  • Nov 12, 2012 8:46am Nov 12, 2012 8:46am
Would you guys take this one?
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  • #4,662
  • Nov 12, 2012 8:57am Nov 12, 2012 8:57am
stockex, I certainly agree with your comments a couple of posts back where you found posters with initial enthusiasm but became discouraged. I too tried this, perhaps even a year or so ago, and wasn't profitable. Jankone couldn't make me a profitable trader and I didn't realize at the time that I only can do that. I have been reading this thread for the last couple of weeks because: 1. PBs are easily recognized (although not all PBs are equal), and 2. With the economic crises around the world I think shorter TFs are better (even though I haven't quite solved the profitability of it.)

Thanks for bearing the load of this thread and I will demo this for the rest of the year, but I don't trade from mid-Dec. until after the new year. Many thanks for your patience and teaching. p.
  • #4,663
  • Nov 12, 2012 8:59am Nov 12, 2012 8:59am
Quoting liopro
Would you guys take this one?
I would not because the PB is not at a swing high or low but that's just my op. p
  • #4,664
  • Nov 12, 2012 1:46pm Nov 12, 2012 1:46pm
Quoting liopro
Would you guys take this one?
No Pinbar with trend ,No divergence NO trade.
  • #4,665
  • Nov 12, 2012 1:48pm Nov 12, 2012 1:48pm
Quoting piprac
stockex, I certainly agree with your comments a couple of posts back where you found posters with initial enthusiasm but became discouraged. I too tried this, perhaps even a year or so ago, and wasn't profitable. Jankone couldn't make me a profitable trader and I didn't realize at the time that I only can do that. I have been reading this thread for the last couple of weeks because: 1. PBs are easily recognized (although not all PBs are equal), and 2. With the economic crises around the world I think shorter TFs are better (even though I haven't...
Hey thanks

Wish you all the best.
  • #4,666
  • Nov 12, 2012 1:53pm Nov 12, 2012 1:53pm
Quoting stockEX
No Pinbar with trend ,No divergence NO trade.
Why not?

1. There're higher lows and higher highs, SMA21 is above SMA50. So why isn't it a trend?
2. There's hidden divergence between the lows.
3. The pinbar itself isn't perfect one. That's true.

Could you post some "with-trend" set-ups you would take,please?
  • #4,667
  • Nov 12, 2012 2:08pm Nov 12, 2012 2:08pm
I see you meant the last bar Thats not a Pinbar though.
I thought you where talking about the Countertrend Pin were the Black line is. It would help when you mark your entry in your charts. I will post some trades tomorrow.
  • #4,668
  • Nov 12, 2012 2:13pm Nov 12, 2012 2:13pm
Quoting stockEX
I see you meant the last bar Thats not a Pinbar though.
I thought you where talking about the Countertrend Pin were the Black line is. It would help when you mark your entry in your charts. I will post some trades tomorrow.
Point taken Well it's a kind of pinbar. Grade B I'd say I took it and had a loss. Happens though. But do post your examples, it would be definitely of a great help to all of us.
  • #4,669
  • Nov 13, 2012 5:34am Nov 13, 2012 5:34am
What's wrong with this one?
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  • #4,670
  • Nov 13, 2012 6:08am Nov 13, 2012 6:08am
thanks!

Quoting stockEX
Here is a little guide on how to get the work done http://i1.fxf5.com/forums/images/smilies/wink.gif

NOTE: An indicator can be of 2 format (extensions), .MQ4 and .EX4. MQ4 is the source code, and EX4 is the compiled version of the code.

Step By Step

1) Download/Copy/Save the MQ4/EX4 file into your Crogram FilesMetaTrader 4expertsindicators folder
2) Close your MetaTrader application (assuming it's currently open ... Ignore this if the application hasn't been launched)
3) Launch your MetaTrader...
  • #4,671
  • Nov 13, 2012 7:03am Nov 13, 2012 7:03am
With trend PB with Div. Loss. Am I doing anything wrong?
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  • #4,672
  • Nov 13, 2012 7:21am Nov 13, 2012 7:21am
Quoting liopro
With trend PB with Div. Loss. Am I doing anything wrong?
Looks good to me plus you are moving up from a support zone. Good luck
  • #4,673
  • Nov 13, 2012 7:29am Nov 13, 2012 7:29am
Quoting piprac
Looks good to me plus you are moving up from a support zone. Good luck
It was a loss. But it's reassuring to know that I'm not the only person who would trade it
  • #4,674
  • Nov 13, 2012 9:38am Nov 13, 2012 9:38am
Quoting liopro
With trend PB with Div. Loss. Am I doing anything wrong?
Here is how that situation looks on my chart, this is certainly not a defined Trend sideways at best.
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  • #4,675
  • Nov 13, 2012 9:40am Nov 13, 2012 9:40am
Overall very strong downtrend.
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  • #4,676
  • Nov 13, 2012 9:41am Nov 13, 2012 9:41am
So how do you define trend then?You've got higher highs and higher lows,SMA21 above SMA50.What else do you want to see?
  • #4,677
  • Nov 13, 2012 9:45am Nov 13, 2012 9:45am
This is a Bar you would want to trade. Longterm Up ,Shortterm Up, Big Pinbar ,good Trade.

I hope that helps.
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  • #4,678
  • Nov 13, 2012 9:48am Nov 13, 2012 9:48am
Quoting liopro
So how do you define trend then?You've got higher highs and higher lows,SMA21 above SMA50.What else do you want to see?
I want to be able to zoom out my chart and see the same trend direction that I see when I look at it zoomed in .While its technically true that short movements like this could be defined as some kind of mini trend ,the are not very secure at all.
  • #4,679
  • Nov 13, 2012 9:48am Nov 13, 2012 9:48am
But wait, Jankone as well as Ryan consider "with trend" bars as those which close above 21SMA if the trend is up.The bar you've showed now isn't a "with trend" bar but kind of a trade when BB is flat.
  • #4,680
  • Nov 13, 2012 9:53am Nov 13, 2012 9:53am
BB is Upwards. I´m not a Fan of using "Below/Above" Sma as Trendconfirmation. Rolling Stoploss thats all that Sma´s are for me.
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