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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #5,281
  • Sep 24, 2015 5:42am Sep 24, 2015 5:42am
[quote=ihezzz;8506217]
Quoting JackAntigua
{quote} 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. {image}
I would agree to a certain extent when trading with the trend and price is rejecting the mid-line. When you’re trying to go against the recent trend though, it is definitely helpful to have clear and obvious divergence.
  • #5,282
  • Sep 24, 2015 10:35am Sep 24, 2015 10:35am
What do you guys think of this one?

I'm trying to learn, so please correct me:

Location of PB: good
Shape of the PB: not perfect (quite bullish close), but good
Divergence: Too weak?
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM5.png Size: 18 KB
  • #5,283
  • Sep 24, 2015 10:57am Sep 24, 2015 10:57am
Quoting ihezzz
What do you guys think of this one? I'm trying to learn, so please correct me: Location of PB: good Shape of the PB: not perfect (quite bullish close), but good Divergence: Too weak? {image}
Your fighting the trend again
every Saint has a past. Every Sinner has a Future
  • #5,284
  • Sep 24, 2015 11:35am Sep 24, 2015 11:35am
Quoting turnip15
{quote} Your fighting the trend again
I know, but I'm about to learn this method, and CT trades are part of the method, so of course, I try to understand how good CT trades work...

But I guess you're right, I should stop CT trades and focus on trend trades first.

Again, thanks for you comment, I hope I don't annoy you guys too much.
  • #5,285
  • Sep 24, 2015 12:58pm Sep 24, 2015 12:58pm
Quoting ihezzz
{quote} I know, but I'm about to learn this method, and CT trades are part of the method, so of course, I try to understand how good CT trades work... But I guess you're right, I should stop CT trades and focus on trend trades first. Again, thanks for you comment, I hope I don't annoy you guys too much.
Honestly, all people new to this method should just try trend trades. I've been trading this way a while and I still only trade trend trades, except when the bollinger bands are flat indicating a range.

Keep trying though, best of luck..
  • #5,286
  • Sep 24, 2015 2:09pm Sep 24, 2015 2:09pm
yeah, amen. CT trades can be tricky. Basically with trend trades, you can not make many mistakes.

Quoting Gareth22
{quote} Honestly, all people new to this method should just try trend trades. I've been trading this way a while and I still only trade trend trades, except when the bollinger bands are flat indicating a range. Keep trying though, best of luck..
  • #5,287
  • Sep 24, 2015 2:25pm Sep 24, 2015 2:25pm
I'll try to stick to the trend trades.
For me it's above all a question of patience. Due to work I can't watch the charts
the whole day and I it happens so often that I switch on my station just after a nice trade occured.
Then I get angry and impatient and try to force things... Thats how I end up taking trades I shouln't have done.

I need to stop the feeling of missing opportunities and rushing things then. Dont know If that would
make the big difference to beeing profitable, but it would definitely prevent MANY dumb trades.

Thanks guys.
  • #5,288
  • Sep 24, 2015 2:28pm Sep 24, 2015 2:28pm
If you dont have time for that, just trade h4 or d1. You can't do much without time with m5.

Quoting ihezzz
I'll try to stick to the trend trades. For me it's above all a question of patience. Due to work I can't watch the charts the whole day and I it happens so often that I switch on my station just after a nice trade occured. Then I get angry and impatient and try to force things... Thats how I end up taking trades I shouln't have done. I need to stop the feeling of missing opportunities and rushing things then. Thanks guys.
  • #5,289
  • Sep 24, 2015 4:29pm Sep 24, 2015 4:29pm
Quoting Gareth22
{quote} Honestly, all people new to this method should just try trend trades. I've been trading this way a while and I still only trade trend trades, except when the bollinger bands are flat indicating a range. Keep trying though, best of luck..
I agree with Gareth..............."Flat Bollinger Bands."
every Saint has a past. Every Sinner has a Future
  • #5,290
  • Sep 25, 2015 5:34am Sep 25, 2015 5:34am
Jankone, I'll try the bigger timeframes.

But for learning to spot the good setups I have attached another M5 chart.

Overall trend is down, Pinbar occurs and sticks out, theres even slight Divergence.

What do you think?
Attached Image (click to enlarge)
Click to Enlarge Name: EUM5259.png Size: 43 KB
  • #5,291
  • Sep 25, 2015 6:09am Sep 25, 2015 6:09am
Quoting ihezzz
Jankone, I'll try the bigger timeframes. But for learning to spot the good setups I have attached another M5 chart. Overall trend is down, Pinbar occurs and sticks out, theres even slight Divergence. What do you think? {image}
We’re above the mid-line and price is making higher highs and higher lows so I would argue that at this point in time, on this timeframe, the trend is up. Also, the pinbar closed up.

Compare and contrast with the earlier one which rejected the mid-line and closed in the direction we wanted to go.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD 5 min #1.PNG Size: 85 KB
  • #5,292
  • Sep 25, 2015 11:56am Sep 25, 2015 11:56am
Quoting JackAntigua
{quote} Were above the mid-line and price is making higher highs and higher lows so I would argue that at this point in time, on this timeframe, the trend is up. Also, the pinbar closed up. Compare and contrast with the earlier one which rejected the mid-line and closed in the direction we wanted to go. {image}
Alright, have to include the BB's... Thanks !
  • #5,293
  • Sep 25, 2015 1:33pm Sep 25, 2015 1:33pm
Quoting ihezzz
Jankone, I'll try the bigger timeframes. But for learning to spot the good setups I have attached another M5 chart. Overall trend is down, Pinbar occurs and sticks out, theres even slight Divergence. What do you think? {image}
No - the left hand side of your chart is in a down trend. Therefore, your Pin bar is with trend and profitable. The left hand side of your chart is in an uptrend (Use Bollinger Band and look at the 21ma) and your Pin is against the trend hence its' highly probable failure. Why not go to Jankones' profile and look at his charts?
every Saint has a past. Every Sinner has a Future
  • #5,294
  • Sep 25, 2015 1:46pm Sep 25, 2015 1:46pm
Quoting ihezzz
Jankone, I'll try the bigger timeframes. But for learning to spot the good setups I have attached another M5 chart. Overall trend is down, Pinbar occurs and sticks out, theres even slight Divergence. What do you think? {image}
I'm not denying it's 20/20 vision when analysing historic charts, but you have to try and see basic market structure. Is it making higher highs or lower highs etc. Swing points are great places to look to enter trades.
Attached Image (click to enlarge)
Click to Enlarge Name: 2509eu.png Size: 37 KB
  • #5,295
  • Sep 26, 2015 3:26am Sep 26, 2015 3:26am
Quoting Gareth22
{quote} I'm not denying it's 20/20 vision when analysing historic charts, but you have to try and see basic market structure. Is it making higher highs or lower highs etc. Swing points are great places to look to enter trades. {image}
Excellent example Gareth -great summary.
every Saint has a past. Every Sinner has a Future
  • #5,296
  • Sep 26, 2015 8:52am Sep 26, 2015 8:52am
You are welcome to make more posts with your attitude, i really like it and it's so helpful. I'm posting trades basically only with pinbar, but there are trades we really can trade more bars, once we understand location of that bar/trend.
good job.


Quoting Gareth22
{quote} I'm not denying it's 20/20 vision when analysing historic charts, but you have to try and see basic market structure. Is it making higher highs or lower highs etc. Swing points are great places to look to enter trades. {image}
  • #5,297
  • Sep 27, 2015 9:02pm Sep 27, 2015 9:02pm
Dear Jankone,
I have followed your posts on here since 2013.
You are a really amazing, sharing, and selfless dude.
Thanks.
  • #5,298
  • Sep 27, 2015 9:08pm Sep 27, 2015 9:08pm
So who here can recommend the most honest broker for me to follow Jankone.
  • #5,299
  • Edited 4:29pm Sep 28, 2015 4:13pm | Edited 4:29pm
Hey there guys nice thread Jakone, a couple of questions;

1. Did I understand correctly that we should trade until we get 10 trades at a 10 tick profit or 20 tick loss per day?

2. Typically how many reliable trades will occur during the London and US session respectively?

3. You've alluded to the fact that you use other bars, would you be kind enough to post some pics with descriptions?


I decided to learn and use the method on the London and the start of the US sessions just gone. No signals that I could see but in terms of the London session that was a good thing as it was choppy as hell (Account remained intact). As for the US session I went to bed given where I am and one cant trade 24 hours! That said I see some pairs and the DJ mini took off.

Jankone, it would be useful to know if some of the other bars you use would have picked up those trades on EUR/US and DJ Mini?

All the best...
  • #5,300
  • Sep 29, 2015 3:04am Sep 29, 2015 3:04am
why is this thread in the commercial section?
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