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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #5,141
  • Edited 5:41am Oct 19, 2013 5:25am | Edited 5:41am
From these 3 candle bars, I traded 1 and 3 (40 pips total), 2 was kind of hidden and after the WRB candle. I don't like them when they come after almost vertical price runs/drops, also not if the retracement is too sharp. 3 was not a true PB, but I liked the momentum and the location.
Jankone, did you trade any of these?

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r u ready?
  • #5,142
  • Oct 19, 2013 6:05am Oct 19, 2013 6:05am
Quoting rtrs111
From these 3 candle bars, I traded 1 and 3 (40 pips total), 2 was kind of hidden and after the WRB candle. I don't like them when they come after almost vertical price runs/drops, also not if the retracement is too sharp. 3 was not a true PB, but I liked the momentum and the location. Jankone, did you trade any of these? {image}
The candle 1 is not of the style of Jankone as this is not a protruding candle . He has explained the same in his previous reply Post 5140.

I personally feel this setup on EU and the one that formed in GU a good one. Basically because of
1> Engulfing Bearish Formation + 2 Bearish PB formed at continuous rejecting resistance line.
2> BB outer boundary was becoming flat.
3> A nice divergence formation

Generally these kind of setups signify a reversal and has potential to give at least 1.5 to 2R reward.
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  • #5,143
  • Oct 19, 2013 6:31am Oct 19, 2013 6:31am
Quoting JPraveen
{quote} The candle 1 is not of the style of Jankone as this is not a protruding candle . He has explained the same in his previous reply Post 5140. I personally feel this setup on EU and the one that formed in GU a good one. Basically because of 1> Engulfing Bearish Formation + 2 Bearish PB formed at continuous rejecting resistance line. 2> BB outer boundary was becoming flat. 3> A nice divergence formation Generally these kind of setups signify a reversal and has potential to give at least 1.5 to 2R reward. {image}

He gave a perfect example of a one leg CT trade. Mine was a double top, one of the other types of CT trades that were presented in this thread.
r u ready?
  • #5,144
  • Oct 19, 2013 6:44am Oct 19, 2013 6:44am
Here are some examples of good T trades, imo that I'm looking for. Any comments are more than welcome. Thanks!

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r u ready?
  • #5,145
  • Oct 19, 2013 8:20am Oct 19, 2013 8:20am
And these are T trades setups that I usually avoid to take, for my TP. Of course there is a trade off between the profitability and the RR ratio. If only 5 pips are targeted for example, probably more smaller wicks PBs or not from a good position would give 5 pips...

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r u ready?
  • #5,146
  • Oct 20, 2013 3:18pm Oct 20, 2013 3:18pm
yeah avoid this, this is not a pinbar u are waiting for , read my posts again , scroll up etc, it's bar hidden in the shadow of previous, we dont trade here. Think about location. again..

(im not sure if 5 pips worth risk/reward/ratio + spread (or whatever fee)

http://www.forexfactory.com/attachme...1&d=1382195784



Quoting rtrs111
And these are T trades setups that I usually avoid to take, for my TP. Of course there is a trade off between the profitability and the RR ratio. If only 5 pips are targeted for example, probably more smaller wicks PBs or not from a good position would give 5 pips... {image} {image} {image} {image}
  • #5,147
  • Oct 20, 2013 3:53pm Oct 20, 2013 3:53pm
Basic school 2nd step: how do we recognize good setup ( pinbars in trend)

It can't be easier. You see obvious down (or up) trend and you run into trade on correction . How? Just wait wait our pinbar ( because you know already, it's with trend so you dont need divergance as in CT (counter-trend trade) . Also if there is even div in your trend trade, you should be more sure about it.


so how do we recognize it? Well i have big secret again, it's nothing but location and shape.

1-you can see we are in downtrend market (imagine it's longer trend obviously and the market made a correction and you see your signal (pinbar), where i painted 1*, there is SPACE, it means, pinbar is NOT in the shadows of previous bars so YOU TRADE

Imagine Christ the Redeemer (statue) on the hill in Rio de Janeiro just upside down (picture below)

2- you are in very same market, some bar has been formed that u might think "oh it's a pinbar" , nope, it's not. Why ? it's NOT on the hill, there is no space and it means our "pinbar" is in the shadows of previous bars and you are risking that you will run into chubby market. YOU DON'T TRADE
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  • #5,148
  • Oct 21, 2013 1:00am Oct 21, 2013 1:00am
Quoting rtrs111
And these are T trades setups that I usually avoid to take, for my TP. Of course there is a trade off between the profitability and the RR ratio. If only 5 pips are targeted for example, probably more smaller wicks PBs or not from a good position would give 5 pips... {image} {image} {image} {image}
Cool rtrs... Understanding getting more better.. Keep posting your trades .. New comers definitely need experts ...
  • #5,149
  • Oct 21, 2013 7:40am Oct 21, 2013 7:40am
Hi guys,

First of all thanks for the thread, been studying and testing abit and it seems solid. Looking forward to learning and contributing.

I took my first trade today, EURUSD 5min. Was the spike right after home sales news I think. Should I have stayed out or did anybody else take the same trade and got burned?

Thanks
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  • #5,150
  • Oct 21, 2013 2:26pm Oct 21, 2013 2:26pm
Quoting christiaandu
Hi guys, First of all thanks for the thread, been studying and testing abit and it seems solid. Looking forward to learning and contributing. I took my first trade today, EURUSD 5min. Was the spike right after home sales news I think. Should I have stayed out or did anybody else take the same trade and got burned? Thanks {image}
I didn't trade this, but generally around news is not a good time to trade. Most traders here enter at the candle low/high not close. Even then sometimes brokers play with the spread and could take you in at the low and then revert abruptly. Also trend wasn't too bearish: M5 just got out a range, H1 was retracing from an uptrend, in a rangy bear flag and H4 has been raging in an uptrend. Overall range, slightly bulish, but not strong chances for shorting imo.
This was a fakey and I would suggest to try and focus only on strong trends for the beginning, even if they are 3 trades per month, get those under your belt, then gradually add few more types as you become more confortable with the patterns.
r u ready?
  • #5,151
  • Oct 21, 2013 10:56pm Oct 21, 2013 10:56pm
Quoting christiaandu
Hi guys, First of all thanks for the thread, been studying and testing abit and it seems solid. Looking forward to learning and contributing. I took my first trade today, EURUSD 5min. Was the spike right after home sales news I think. Should I have stayed out or did anybody else take the same trade and got burned? Thanks {image}
It be shake out on h1 TF. See on higher TF and trade with trend. Form PB bad too. See Jankone example for trade only GREAT PB.
  • #5,152
  • Oct 22, 2013 1:51am Oct 22, 2013 1:51am
Thanks guys, will do some more backtesting and hopefully improve. Guess there wont be much today till after NFP.
  • #5,153
  • Nov 1, 2013 4:36am Nov 1, 2013 4:36am
Two trades from today EurUsd
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  • #5,154
  • Nov 1, 2013 7:17am Nov 1, 2013 7:17am
UsdJpy trade.If you can catch one of these every once in a while and then manage to not totally kill yourself the rest of the time, then you have an edge.
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  • #5,155
  • Edited 2:56am Dec 19, 2013 2:35am | Edited 2:56am
AU M15

Aussie short - in trend
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  • #5,156
  • Dec 19, 2013 5:01am Dec 19, 2013 5:01am
Quoting chazzle
AU M15 Aussie short - in trend
+10
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  • #5,157
  • Jan 16, 2014 2:18pm Jan 16, 2014 2:18pm
AU M15

Short retest of last year low
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  • #5,158
  • Jan 16, 2014 5:17pm Jan 16, 2014 5:17pm
Quoting chazzle
AU M15 Short retest of last year low {image}
sticking to this level so I'm out
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  • #5,159
  • Jan 21, 2014 2:07am Jan 21, 2014 2:07am
EU M5

Long Euro
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  • #5,160
  • Jan 21, 2014 2:34am Jan 21, 2014 2:34am
now theres a better one on GU
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