Jankone M5 thread

I see, do you mean not trade directly into traffic right?

Hello
Can anyone tell me where I went wrong?
This pinbar this right?

no divergence

I hope that g/u will make my day I don't trade this way anymore, but this setup seems to be good.

Sometimes even good setup fails. It's just the way it is. But if your MM is good, loosers are just part of the business.

with good money management (actually, I prefer to call it 'risk management'), you can still make money if only 50% of your trades are winners - just make sure your risk/reward ratio is something like 1:2. BUT... even if you perform 100/100 perfect trades (meaning, you only open trades when getting A+ signals), you're still gonna have 'losers', which is exactly why you cannot let those run. In my humble opinion, letting losers run (after the market manipulators lure you into the wrong direction, for instance by feeding you the perfect pin bar) is the shortest way for blowing up accounts.

It's by sticking to high probability setups, in combination with good r/r ratio (and compounding, which means increasing your lot size as your account grows bigger, and vice versa), that one will eventually become profitable in this business. This is why Jakone impresses the importance of developing patience and discipline AND BELIEVE THAT YOU CAN DO IT (fear and doubt will only attract more 'bad trades' - greed is fear/doubt too: fear/doubt of not being able to win the next trade(s)).

Cheers

"Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes.


This disclaimer was put underneath a short article regarding divergence:


"The RSI is showing a clear sign of divergence which means that while the price is making the higher high,
the RSI is not confirming this. Therefore, the bias could be to the downside."





Then there's this article, which 'explains' why the strategy used and freely shared here by Jankone is pretty sound:

"Price manipulation in the forex market - stop running - EUR/USD


by Macplauz , 05-16-2013 at 05:24 AM (2282 Views)


Price manipulation in the Forex market - Observation in the Euro/US Dollar

A very important aspect in Trading Forex in my opinion is that price is most often pushed/ (particular at news release) to slightly penetrate or break Support/Resistance zones (for example recent Highs/Lows/Pivot Points or in general where stops are anticipated) to trigger the stops and often reversing after completing the stop run and targeting the opposite zone where stops are anticipated (for example the stops of the fooled breakout traders). The manipulation aims to catch the stops and to fool breakout traders at Support and Resistance or striking levels for example highs/lows and psychological numbers. This allows market manipulators to position themselves against the mainstream trader (setup). This may explain why most of the traders and mainstream trading strategies fail and will fail in the future.
Thus, an efficient way to successfully trade forex might be to accept and understand the way of market manipulation. Hence, it becomes important to analyze the intention of the manipulator, which is to catch stops of the mainstream traders and to fool them into bad mainstream setups by moving the market in the opposite direction targeting the mainstream stop zone e.g. at popular Support/ Resistance. Mainstream setups only work out when they are related to the manipulator's strategy. So it often falls back to the manipulator's trading strategy but if the mainstream trading strategy will work out, which probably is statistically insignificant , then this often reinforces the hype about the mainstream trading strategies, which are mostly fooling traders into bad setups and give manipulators the advantage to know how most of the traders trade, including the location of their stop/limit order positions.
Furthermore, there are many algorithmic trading programs of the market manipulators, which are automatically employed on the short term time frames like 1 min, 5 min,hourly..., programmed to use their market power to move market against the mainstream traders to shift the odds of successfully trading forex heavily against them.
In general, I would argue that stop running on at least the shorter time frames should be accepted by traders and that it should play an important part in a traders day and swing trading strategy to successfully trade forex. A wise alternativae would be to stay away from forex."

Is it clear now why trading pin bars (fake moves), in combination with divergence (showing manipulation), is the way to go? This market manipulation is also the reason that 'trading naked' (pure price action, no indicators) is another path to becoming a profitable trader - traditional trading education involves (lots of) indicators and classic trading rules, but all it does is making you more predictable, and hence more vulnerable to get trapped by the 'big boys'.

Hope this helps.

Why would it be wrong to take trades from the middle bb band?? It's just a 20 SMA (standard setting, that is. But Jakon's 18,2 setting is also very close to the 21 EMA that's also part of this system anyway... Maybe it's even better than (only) taking trades when price is close to the upper/lower bollinger band, because it's a MA lots of people use, so that makes it a target for market manipulators and therefor a place where you can get in, after the fake move (represented by the pinbar/divergence).


Hope this helps (especially the newbies, who have no clue as to why open trades where :-)


Good luck to all!

GOLD M15

Gold long...

this died on it's ass, after 1 or 2 very fleeting opps. to cash out for scalp (which I missed) - got a couple of points on it

Same old setups, same old results....

2nd setup might not have been a "Jankone" setup, but Ryan would have taken it...

It would be great to bring this once great thread back to life, I know it's all been said but isn't that the same for every thread?

Would be nice to hear how others are doing....

This isn't a pin bar setup, but it fits in with Ryanmcd so I'm sure Jankone wouldn't mind....

This is actually one of my favourite setups, a high is made followed by a one or two bar retracement followed by a slightly new high WITH rsi divergence.

The great thing about this setup is you can have a tight stop and normally aim for 2:1 or 3:1 (3:1 would have worked here)

P.S I didn't take this setup (I took lunch at the wrong time!)

Just a review of possible setups yesterday....

Hey Ronald123, thanks a lot, this really cleared up some questions I had regarding these trapping sons of bi**** who keep playing their dirty games!

Cheers man!!!

Ronald

Can you share the indi that put arrows on pin bars ? 10x

Hey ronald you are newbei !!!! Keep learning mate !!!

Today's EURUSD 5 min chart...

What Ryanmcd gave us was pure gold...

What I find works best is when the pull back to the middle bb is also at a swing high or low.

Anyone know where RYAN is these days?
Is he on another site ?