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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #4,801
  • Jul 24, 2013 10:23am Jul 24, 2013 10:23am
Quoting dbeach777
It didn't fail, it just behaved a little different then you wanted it to {quote} {image}

lol, same as previous answer about back testing. Many T trades will have a good CT signal before that scares you to stay out. The length of the flag and the long wick extended out of it also gave me extra confidence to take it, but I agree about the next opposite PB, I should've closed it.
Thx!
r u ready?
  • #4,802
  • Jul 24, 2013 10:24am Jul 24, 2013 10:24am
Quoting rtrs111
{quote} First one was not a strong retracement or near any S/D level, I took it because of the strength of the drop and based on backtesting - statistically this type of retracement makes money.
After move of 70 pips on M5 chart ??
Even though I walk through the darkest valley, I will fear no evil
  • #4,803
  • Jul 24, 2013 10:29am Jul 24, 2013 10:29am
Quoting rtrs111
And another one from yesterday that failed (on EU) - comments are more than welcome: {image}
Took that one for 2 pips. And in the right up corner, double top with pin bar and diver +15 pips .
Even though I walk through the darkest valley, I will fear no evil
  • #4,804
  • Jul 24, 2013 10:34am Jul 24, 2013 10:34am
from today +7 pips
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm5.png Size: 80 KB
Even though I walk through the darkest valley, I will fear no evil
  • #4,805
  • Jul 24, 2013 10:52am Jul 24, 2013 10:52am
Quoting monocor
I was checking my trades with pinbars, win rate is 80%, but I always looking for divergence and for M5 my TP10, but normally I close after 3rd bar, and my average is 5pips per trade. So my risk reward is 2:1, which is really low. This thread is bean here for a while. Is anybody making a good living of this method ???

If that's after transaction costs, theoretically should make about 170% ROI with 2% per trade over 100 trades.
r u ready?
  • #4,806
  • Jul 24, 2013 10:55am Jul 24, 2013 10:55am
Quoting monocor
{quote} Took that one for 2 pips. And in the right up corner, double top with pin bar and diver +15 pips .

That's my favorite CT trade, but unfortunately I wasn't around...
r u ready?
  • #4,807
  • Jul 24, 2013 11:03am Jul 24, 2013 11:03am
Quoting rtrs111
{quote} If that's after transaction costs, theoretically should make about 170% ROI with 2% per trade over 100 trades.
Well it is not that good how it looks like. I had 5 trades this week, o losses but I have only 25 pips for 3 days of trading. It is ok because I am taking pins on the way while I am trading. Consider to my other profit of 95 pips for 3 days. That 25 pips is a good plus.
Even though I walk through the darkest valley, I will fear no evil
  • #4,808
  • Jul 25, 2013 3:46am Jul 25, 2013 3:46am
This one from M30, +30 pips
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpym30.png Size: 11 KB
Even though I walk through the darkest valley, I will fear no evil
  • #4,809
  • Jul 25, 2013 3:19pm Jul 25, 2013 3:19pm
Quoting rtrs111
And another one from yesterday that failed (on EU) - comments are more than welcome: {image}
You are counter trend trading a strong down move with no divergence. The next pin WITH the TREND was the better trade imho.
every Saint has a past. Every Sinner has a Future
  • #4,810
  • Jul 25, 2013 3:21pm Jul 25, 2013 3:21pm
Quoting monocor
This one from M30, +30 pips {image}
Seems there a few of us who prefer the 15 or 30min charts
every Saint has a past. Every Sinner has a Future
  • #4,811
  • Jul 25, 2013 3:41pm Jul 25, 2013 3:41pm
Quoting turnip15
{quote} Seems there a few of us who prefer the 15 or 30min charts
All 3 time frames M5, M15, M30,
Even though I walk through the darkest valley, I will fear no evil
  • #4,812
  • Jul 25, 2013 8:44pm Jul 25, 2013 8:44pm
Quoting turnip15
{quote} You are counter trend trading a strong down move with no divergence. The next pin WITH the TREND was the better trade imho.

To me the trend was north, both MAs were nicely angled and separated. Seems like the FTA compression continued deeper into the D zone. Just checked it now and saw the mistake: M1 didn't have a good CT signal. Btw, MTF combos for this strategy are dynamite, I gotta test it more though. Thinking about loaded M1/H1 plays + trailing.
r u ready?
  • #4,813
  • Jul 30, 2013 8:15am Jul 30, 2013 8:15am
This is a great thread. Easy to understand the basic concepts. Been lurking for a while and using this method on some trades. I'll post when I can. I really hope the interest picks up.
  • #4,814
  • Jul 30, 2013 10:15am Jul 30, 2013 10:15am
10:35 EST short +11 pips USDJPY. Nice PB with nice div. Will post charts when I am able.
  • #4,815
  • Jul 31, 2013 6:48am Jul 31, 2013 6:48am
Another loss today (EU, M5), didn't enter at #1 because of opposite PBs and too short retracement, instead I got in at #2.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 25 KB
r u ready?
  • #4,816
  • Jul 31, 2013 7:02am Jul 31, 2013 7:02am
Quoting rtrs111
Another loss today (EU, M5), didn't enter at #1 because of opposite PBs and too short retracement, instead I got in at #2. {image}
look for bigger candles - your 2 pins are 5 and 6 pips in size - in terms of higher probability - the bigger the better imo
  • #4,817
  • Jul 31, 2013 7:45am Jul 31, 2013 7:45am
Quoting chazzle
{quote} look for bigger candles
EJ M5

like this: 23 pip pin on EJ , divergence and in trend (1week) - an equal amount from it's close brings us to the mid June swing-high
Attached Image (click to enlarge)
Click to Enlarge Name: ej.PNG Size: 31 KB
  • #4,818
  • Jul 31, 2013 7:53am Jul 31, 2013 7:53am
Quoting chazzle
{quote} EJ M5 like this: 23 pip pin on EJ , divergence and in trend (1week) - an equal amount from it's close brings us to the mid June swing-high {image}
EJ M5

on the 4th candle:done
Attached Image (click to enlarge)
Click to Enlarge Name: done.PNG Size: 33 KB
  • #4,819
  • Jul 31, 2013 1:19pm Jul 31, 2013 1:19pm
UJ M5

how's that for a pin?
Attached Image (click to enlarge)
Click to Enlarge Name: HT.PNG Size: 38 KB
  • #4,820
  • Jul 31, 2013 1:49pm Jul 31, 2013 1:49pm
I went with EURUSD. Had some good div too.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm5.png Size: 54 KB
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