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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #5,161
  • Jan 21, 2014 4:45am Jan 21, 2014 4:45am
Quoting andyhardwick
now theres a better one on GU
where?
  • #5,162
  • Jan 21, 2014 4:53am Jan 21, 2014 4:53am
Quoting chazzle
EU M5 Long Euro
took a couple, just below test of opening range mid
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  • #5,163
  • Feb 14, 2014 2:28am Feb 14, 2014 2:28am
This method suits me down to the ground, I can wait for hours/days for a set up but I hate being in trades for long periods (i.e longer than 30 mins)

A couple of these a week is all you need, such a simple method but extremely effective.

This trade was counter trend which I don't normally like but the pin was so good and there was great divergence.

Thanks Jankone, I think if people had the discipline to wait for the 1 or 2 setups each week that ALWAYS form then everyone could be a successful trader.

All the best,

Gareth
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  • #5,164
  • Feb 14, 2014 4:19am Feb 14, 2014 4:19am
Gareth,
Try this method out for 500 trades then see if you are of the same opinion. Have you noticed that many original posters have faded away and are seeking the holy grail on other threads. I don't want to pee on your parade but demo for about 500 trades and see if your enthusiasm remains.
Good luck.
every Saint has a past. Every Sinner has a Future
  • #5,165
  • Feb 14, 2014 4:30am Feb 14, 2014 4:30am
Quoting turnip15
Gareth, Try this method out for 500 trades then see if you are of the same opinion. Have you noticed that many original posters have faded away and are seeking the holy grail on other threads. I don't want to pee on your parade but demo for about 500 trades and see if your enthusiasm remains. Good luck.
Hi,

I agree with you, I always see threads and then look to where the members are now after successfully posting successful trade after successful trade only to find they are posting elsewhere....the problem is, you say demo for 500 trades, if doing this method properly you might only be taking 2 trades a week, that would be about 5 years? I honestly feel looking back in the past of this thread, you see people posting something like "not the best pin, but so many reasons to take it, closed out for -5 pips" They often took 3-4 trades a day which isn't how to trade this method...

I trade other price action as well, but waiting for the A+ pin with EVERYTHING going for it, you'll be successful...

All the best
  • #5,166
  • Feb 14, 2014 5:22pm Feb 14, 2014 5:22pm
Quoting turnip15
Gareth, Try this method out for 500 trades then see if you are of the same opinion. Have you noticed that many original posters have faded away and are seeking the holy grail on other threads. I don't want to pee on your parade but demo for about 500 trades and see if your enthusiasm remains. Good luck.
Thats got nothing to do with this method at all
  • #5,167
  • Feb 15, 2014 2:08pm Feb 15, 2014 2:08pm
Quoting andyhardwick
{quote} Thats got nothing to do with this method at all
Enthusiasm and testing for validity have everything to do with any form of trading. If you can't see that -well-good luck in your search
every Saint has a past. Every Sinner has a Future
  • #5,168
  • Feb 15, 2014 2:29pm Feb 15, 2014 2:29pm
Quoting turnip15
{quote} Enthusiasm and testing for validity have everything to do with any form of trading. If you can't see that -well-good luck in your search
Pinbar is a strong price action tool, and if he's trading it on a live account after proper backtesting then I don't really see a problem with that. Andyhardwick is right, it has got nothing to do with this method.
  • #5,169
  • Feb 15, 2014 6:18pm Feb 15, 2014 6:18pm
No I meant that so many of the original gang arent posting anymore, that doesnt have anything to do with this method, Jankone is still using it and there is no doubt pin bars work in the right locations, but most people try a mathod and when it does yield 100% winners in the first month they move on still loooking for the holy grail that does
  • #5,170
  • Feb 17, 2014 3:47am Feb 17, 2014 3:47am
Counter trend, Divergence...1:1 target met
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  • #5,171
  • Feb 17, 2014 7:42am Feb 17, 2014 7:42am
Quoting Blackside
{quote} Pinbar is a strong price action tool, and if he's trading it on a live account after proper backtesting then I don't really see a problem with that. Andyhardwick is right, it has got nothing to do with this method.
Andy misunderstood me and replied saying so (see his post above). Therefore, what are you refering to ?
every Saint has a past. Every Sinner has a Future
  • #5,172
  • Feb 17, 2014 7:46am Feb 17, 2014 7:46am
Quoting Gareth22
Counter trend, Divergence...1:1 target met {image}
Thats not a pin bar -see Jankone page one. You missed a great up move about 28 bars back. Apart from that, a few pips profit is better than nothing.
every Saint has a past. Every Sinner has a Future
  • #5,173
  • Feb 27, 2014 10:58am Feb 27, 2014 10:58am
Quoting turnip15
Gareth, Try this method out for 500 trades then see if you are of the same opinion. Have you noticed that many original posters have faded away and are seeking the holy grail on other threads. I don't want to pee on your parade but demo for about 500 trades and see if your enthusiasm remains. Good luck.


I would argue that the reason for that is down to the person rather then the method.
  • #5,174
  • Mar 1, 2014 4:07pm Mar 1, 2014 4:07pm
I am not to familiar with RSI, but I don't seem to see very much divergence. That is with RSI and Trend. The last 2 examples I see some divergence. At the beginning of this Pinbar thread I didn't see much divergence.
  • #5,175
  • Mar 1, 2014 8:38pm Mar 1, 2014 8:38pm
divergence is just another confirmation tool to give us a a more confidence to enter trade imo. Just like everything in FOREX, nothing is 100%.

Gold H1 pin bar with divergence last week. Just an example.
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Everything you can imagine, is real - Pablo Picasso
  • #5,176
  • Mar 3, 2014 7:39am Mar 3, 2014 7:39am
Counter trend, divergence.

1:1

This method works, just depends on the trader....
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  • #5,177
  • Mar 4, 2014 2:50am Mar 4, 2014 2:50am
Quoting Direwolf
divergence is just another confirmation tool to give us a a more confidence to enter trade imo. Just like everything in FOREX, nothing is 100%. Gold H1 pin bar with divergence last week. Just an example.
I see the divergence in this example. There were a couple in the beginning of the thread that I didn't see much divergence. But I know what divergence is. I don't use it much but maybe I need to look at it more.
  • #5,178
  • Mar 4, 2014 11:19am Mar 4, 2014 11:19am
I really like this system, but how do you filter bad pin bars?
  • #5,179
  • Mar 4, 2014 5:00pm Mar 4, 2014 5:00pm
Quoting fuzz
I really like this system, but how do you filter bad pin bars?
Begin at Post 1 and read from there. Many pertinent examples of "good" and "bad" Pins are repeatedly shown.
every Saint has a past. Every Sinner has a Future
  • #5,180
  • Mar 4, 2014 8:42pm Mar 4, 2014 8:42pm
Quoting fuzz
I really like this system, but how do you filter bad pin bars?
Just me

1. First and most important, the pin must be obvious. You should be able to spot it even if you just flip through your chart 3 seconds per chart.
2. It's wick sticking out from other bars.
3. Much longer wick than its body. The more the better
4. Has some room to move. Say you have a triple bottom that price couldn't get through... then a pin bar formed leaving only 5 pips to move down to that triple bottom. would you take it?
Everything you can imagine, is real - Pablo Picasso
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