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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #5,261
  • Sep 19, 2015 7:56am Sep 19, 2015 7:56am
Quoting Go5
{quote} Thanks for all your efforts you put in this thread and even more for coming back with tips . Learned a lot (in lurking mode...)! Now to your EU bad pinbar: I can see it's a bad one but I do see ( a 7 bar) divergence? {image}
Why do you people never read properly whats been written numerous times before. TRADE WITH THE TREND - it is far easier and more likely to result in profit. You have at least two pins near the middle of the BB indicating shorts WITH the TREND. Just because you see divergence does not mean you have to fight the trend -there are Pins and there are PIns -look at Jankones examples of counter trend Pins, apart from appearing within Divergence, the pins in counter trades are BIG pins at highs or lows. Go to post one or download Jankones PDF and study those pins.
every Saint has a past. Every Sinner has a Future
  • #5,262
  • Sep 20, 2015 2:22pm Sep 20, 2015 2:22pm
I've stopped having RSI on my charts, I no longer need it. I'm trading with trend trades only, Ryanmcd much preferred with trend trades and I can see why. Best piece of advise I can give you is focus on whether the charts are making higher highs/higher lows or lower highs/lower lows...
  • #5,263
  • Sep 20, 2015 2:30pm Sep 20, 2015 2:30pm
Friday EURUSD M5

This is how I read the market and how I look to trade it...
Attached Image (click to enlarge)
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  • #5,264
  • Sep 20, 2015 4:54pm Sep 20, 2015 4:54pm
Quoting Gareth22
Friday EURUSD M5 This is how I read the market and how I look to trade it... {image}
Great stuff Gareth
every Saint has a past. Every Sinner has a Future
  • #5,265
  • Sep 20, 2015 7:24pm Sep 20, 2015 7:24pm
Yeah i really like it. As i wrote before, i like simple things.
Seems like you dont care about shapes of bars, but only position (like mid bb with downtrend for example) and just take it.
I guess I'll add some of your reads for some personal testing

Quoting Gareth22
Friday EURUSD M5 This is how I read the market and how I look to trade it... {image}
  • #5,266
  • Sep 21, 2015 8:45am Sep 21, 2015 8:45am
Quoting turnip15
{quote} Why do you people never read properly whats been written numerous times before. TRADE WITH THE TREND - it is far easier and more likely to result in profit. You have at least two pins near the middle of the BB indicating shorts WITH the TREND. Just because you see divergence does not mean you have to fight the trend -there are Pins and there are PIns -look at Jankones examples of counter trend Pins, apart from appearing within Divergence, the pins in counter trades are BIG pins at highs or lows. Go to post one or download Jankones PDF and...
No intention of advocating any ct trading in my post but thanks for confirming the divergence for that case. Can you share any stats on "ideal" ct trades (compared to the trend trades)- they still are part of the system presented here...
  • #5,267
  • Sep 21, 2015 9:02am Sep 21, 2015 9:02am
Quoting Go5
{quote} No intention of advocating any ct trading in my post but thanks for confirming the divergence for that case. Can you share any stats on "ideal" ct trades (compared to the trend trades)- they still are part of the system presented here...
CT trades are definitely part of it, picking divergence trades are best in ranging markets (at least for me anyway). A lot of people try this method and it's hard enough to be successful just taking trend trades. I had a couple of nice losers today, could have avoided one by moving it to break even at 1:1 but moving sl and tp during a trade isn't part of my trading plan....I plan to stick around for the next couple of hours to make up for it, with proper mm i'll end the day positive
  • #5,268
  • Sep 21, 2015 11:02am Sep 21, 2015 11:02am
Quoting Go5
{quote} No intention of advocating any ct trading in my post but thanks for confirming the divergence for that case. Can you share any stats on "ideal" ct trades (compared to the trend trades)- they still are part of the system presented here...
Gareth answered it well
every Saint has a past. Every Sinner has a Future
  • #5,269
  • Sep 21, 2015 11:26am Sep 21, 2015 11:26am
Like Gareth says -not all trades work out. I trade Jankone with variations but not all win. Make sure you use stops and ruthlessly execute them.
My pair is the Euro.
Trendy is friendly
Attached Image (click to enlarge)
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every Saint has a past. Every Sinner has a Future
  • #5,270
  • Sep 22, 2015 5:39pm Sep 22, 2015 5:39pm
I have no idea what are you doing and what is that, I can't see reasonable pinbar etc.
And i have no idea what are you trying to say with that post. And I have no idea what system are you trading and why posting it here...?



Quoting turnip15
Like Gareth says -not all trades work out. I trade Jankone with variations but not all win. Make sure you use stops and ruthlessly execute them. My pair is the Euro. Trendy is friendly {image}
  • #5,271
  • Sep 23, 2015 6:08am Sep 23, 2015 6:08am
Quoting Jankone
I have no idea what are you doing and what is that, I can't see reasonable pinbar etc. And i have no idea what are you trying to say with that post. And I have no idea what system are you trading and why posting it here...? {quote}
They are variations used by RYANMCD
every Saint has a past. Every Sinner has a Future
  • #5,272
  • Sep 23, 2015 7:47am Sep 23, 2015 7:47am
Hey folks,


I just took another loss (so far I took 7 trades with this method, 1 Winner, 6 losers. I go for RR 1:1 and Set&Forget the trade).

It was a CT trade with a Pin and Div.

Jankone, can you tell me if the setup was correct in your eyes?
Attached Image (click to enlarge)
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  • #5,273
  • Sep 23, 2015 7:55am Sep 23, 2015 7:55am
Quoting ihezzz
Hey folks, I just took another loss (so far I took 9 trades with this method, 2 BE, 1 Winner, 6 losers). It was a CT trade with a Pin and Div. Jankone, can you tell me if the setup was correct in your eyes? {image}
you missed a pin around1.11712 ish which was WITH the TREND.
Seems you traded against the trend which is why you lose so often. Be patient and wait for pins with trend or divergence in consolidations as per Ryanmcd.
I trade variations on Jankone and use some ryanmcd stuff that doesn't always use pins -so I might get told off for posting here.
But, remember -the trend is your friend along with patience to sit on your hands.
every Saint has a past. Every Sinner has a Future
  • #5,274
  • Sep 23, 2015 10:32am Sep 23, 2015 10:32am
Today I got some free time, so I use it to post some more trades I took.
The next one after trade I posted some hours ago was just an emotional, crappy reaction to the loss.
I wanted to force the market to give me back my money. There wasnt even a Pinbar. The trade hit SL right away.

Todays third and last trade was a winner. Huge bearish Pin+Div.
Attached Image(s) (click to enlarge)
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  • #5,275
  • Sep 23, 2015 11:33am Sep 23, 2015 11:33am
Quoting ihezzz
Today I got some free time, so I use it to post some more trades I took. The next one after trade I posted some hours ago was just an emotional, crappy reaction to the loss. I wanted to force the market to give me back my money. There wasnt even a Pinbar. The trade hit SL right away. Todays third and last trade was a winner. Huge bearish Pin+Div. {image} {image}
That's not a Pin. You were lucky. Perhaps you should start from the first page on Jankone's thread.
every Saint has a past. Every Sinner has a Future
  • #5,276
  • Sep 23, 2015 12:36pm Sep 23, 2015 12:36pm
Quoting turnip15
{quote} That's not a Pin. You were lucky. Perhaps you should start from the first page on Jankone's thread.
Okay, thanks for the advice!
  • #5,277
  • Sep 23, 2015 5:53pm Sep 23, 2015 5:53pm
Yeah please check #1 again, especially basic school i wrote. I think I wrote "enough" about location/shape. Ton bars can look like a pinbar, but unless it has specific conditions (like location) it's just "random bar" that you really CAN NOT rely on.
Just a reminder, pinbar is a bar obvious "alone" standing on top or bottom, screaming here i am. Like cherry on top. If you trade random bars, in kinda sideways market, that just "look like a pinbar" but dont have that desired location, you will run into troubles.

Would you pick cherry on top of awesome cake? Yeah, so don't take cherries somewhere hidden in the cake.


Quoting ihezzz
Today I got some free time, so I use it to post some more trades I took. The next one after trade I posted some hours ago was just an emotional, crappy reaction to the loss. I wanted to force the market to give me back my money. There wasnt even a Pinbar. The trade hit SL right away. Todays third and last trade was a winner. Huge bearish Pin+Div. {image} {image}
  • #5,278
  • Sep 24, 2015 2:17am Sep 24, 2015 2:17am
Quoting Jankone
Yeah please check #1 again, especially basic school i wrote. I think I wrote "enough" about location/shape. Ton bars can look like a pinbar, but unless it has specific conditions (like location) it's just "random bar" that you really CAN NOT rely on. Just a reminder, pinbar is a bar obvious "alone" standing on top or bottom, screaming here i am. Like cherry on top. If you trade random bars, in kinda sideways market, that just "look like a pinbar" but dont have that desired location, you will run into troubles. Would you pick cherry on top of awesome...
Jankone, thanks for your opinion, I'll go through the stuff again.
Just one more thing: Wasn't even the first one I posted good?
Attached Image (click to enlarge)
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  • #5,279
  • Sep 24, 2015 3:18am Sep 24, 2015 3:18am
[quote=ihezzz;8505808]{quote} Jankone, thanks for your opinion, I'll go through the stuff again. Just one more thing: Wasn't even the first one I posted good? {image}[/quote

If you were trading divergence, there was none between points A and B but there was between points B and C.
Attached Image (click to enlarge)
Click to Enlarge Name: Div.PNG Size: 113 KB
  • #5,280
  • Sep 24, 2015 4:51am Sep 24, 2015 4:51am
[quote=JackAntigua;8505980]
Quoting ihezzz
{quote} Jankone, thanks for your opinion, I'll go through the stuff again. Just one more thing: Wasn't even the first one I posted good? {image}[/quote If you were trading divergence, there was none between points A and B but there was between points B and C. {image}

Okay, I thougt a more or less vertical trendline on the RSI in comparison to a clearly angled trendline on the price chart does also count as divergence.
I attach an old chart from Jankone to show what I mean.
Attached Image (click to enlarge)
Click to Enlarge Name: trendtshort_pin_div.gif Size: 20 KB
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