Jankone M5 thread (Jankone M5 thread) | Foreign exchange EA download- MT4/MT5 resources
September 2015 minor update
General information
I want you guys to know one thing.
There are some simple rules:
The timeframe is m5 (or m15 / whatever you want)
One setup is about trend trading,
One setup is related only to the countertrend of the RSI divergence.
It's about price action and trading one bar. It's a bar called a "pin bar" and it looks like this >
The first one is easy - counter trend pinbars always divergence from RSI
If you want to go short>
(inside blue circle)
and very long>
The RSI is 6, the blue line is ema 21, and the red line is SMA 50.
The second one is easier
Simple rule: all you need is a trendy and beautiful pinbar.
(note if there is a div too, in the transaction, it's usually A+++)
Basic School #1:
Basic School Step One: How We Recognize a Good Pinbar
Let's get started, I see a lot of you doing it wrong and I'm worried about your money. I think some people still don't understand location, imagine it's like a real estate business (you're selling a house or renting it out), location, location location. Look at this picture, I made a super simple picture in MS Paint, let's call it the basics of how to decide.
Setting 1 I see this a lot, maybe it's "pinbar", but you shouldn't even think about it. Here's some random crappy bar hiding in the shadows of previous bars
Setup 2 is the A+ you've been waiting for, it screams in your face, I'm here and you just can't miss it.
1 - As I wrote, the last pillar, especially if you are a newbie, you may think this is a great pinbar, you see the pinbar and make a no-brainer deal because you saw the cute pinbar (you bought the house and then you realized it was in the middle of nowhere) again think about the location (and shape).
2- Perfect shape, it's not hidden from the previous bar, this setup is perfect. Why? Open + Close + - are equal, the lowest is very close and the highest is huge (this could mean the market is exhausted or whatever) then you trade
Basic School #2:
Basic School Step Two: How We Recognize Good Settings (Pinbars in Trends)
It couldn't be simpler. You see a clear downward (or upward) trend, and you trade on corrections. how? Wait for our pinbar (as you already know, it's trending, so you don't need a divergence like a CT (counter trend trade)). Also, if there is even a div in your trend trade, you should be more sure.
So how do we identify it? Well, I have another big secret, it's just the location and shape.
1 - You can see that we are in a downtrending market (imagine, clearly a long term trend, the market corrected, you see your signal (pinbar), I drew 1* in it, there is space , it means that the pinbar is not in the shadow of the previous bar, so you trade
Imagine Christ the Redeemer (statue) on a hill in Rio de Janeiro, turned upside down (picture below)
2- You are in the same market where some bars have formed and you might think "oh, this is a pinbar", no it is not. Why? It's not on a hill and there's no space, which means our "pinbar" is in the shadow of the previous pub and you run the risk of entering the fat market.
Some good people made .pdf files of my trades, with brief information on some of the charts.
Even though I made money, I do think some of the trades taken out there today were terrible (Updated September 2015) You just have to recognize what a good pinbar, shape and placement is.
You can also see my trades when you search the images I posted > http://www.forexfactory.com/search.p...rchid=16959770
Older - not updated, but still worth it I hope
If you trade good pinbars and use good money management, you can make money. You can imagine what will happen to your account if you trade and know what money management is. I'm sure you know the coin toss theory: as a simple example, heads = you win $200, tails you lose $100. You will be a +- 50% winner after 100 flips. 50x to win $200, 50x to lose $100 = you make $5000. The same goes for trading pinbars, they give you an advantage.
After mastering some skills for a period of time, it is easy to have a 50% winning rate. With the same style, you can make money.
Live your dreams and do everything you want to do.
You are a profitable trader.
I can show you and learn from you my style, my trading, buying what you need to learn, how to be a good trader.
Updated October 24, 2009
Imagination strategy:
There are 2 simple rules - pinbar goes against the trend or pinbar + div goes against the main trend. If you want to make money, don't think about it, just do it.
Strategy is in your head.
Okay, let's imagine your system.
Your trade is very good and has the best pinbar for the trend, your stop loss is 0.5% of your account (good to start with) and your target is 1%.
SL low/high below/above pinbar, tp usually unique (e.g. last low, round number, S/R level or just fixed 1%)
If you only have about 50% winners, you can make money.
Same as CT trade (counter trend) - pinbar+div.
Same SL let's say again 0.5% to start, TP 1st s/r, or fix 1% even if ema21 is good TP.
Likewise, if you win +- 50%, you make money.
If you were to trade some small crappy bars, more dojis, or some volatile pinbars, you would screw up. You need to train through simulation or trade with a small account.
The timeframe is m5 (sometimes I trade m15)
Don't try to watch 50 markets, it works everywhere, yes, but stay focused, EUR/USD, GBP, EURJPY and USDJPY are all good because the spreads are lower. If you don't know what a divergence or pinbar is, learn it, it's the easiest to learn. Your fear, greed, and impatience will increase tenfold.
If you want to succeed, you will succeed.
It starts in your mind.
Successful people are looking for ways to achieve their goals.
An unsuccessful person is always looking for excuses, reasons why he cannot achieve his goals.
It makes a big difference over time.
__________________
Updated April 22, 2009
Guys,
This is pure gold. In trading, you need to control your money, your trading plan and control yourself. I am sure that you can do everything you want.
If your winning trades are more than 50% (not difficult with this material), you are profitable. After a few months, you will understand that there is one more important thing. Don't spend 85% of your time looking at charts, looking for the best indicator or the super cool new trading system or whatever it is you do. Take the time to study your psychology. Show yourself. Trading systems often work, but traders don't. Their minds are filled with emotions (greed, fear, impatience, etc.)
What is important? No matter what trade you take, test your system. and continue using your system. I can tell you that because I trade a system, I am profitable. The problem was just in my head, not in the trading system.
This M5 trading system couldn't be simpler.
You have to realize = it's all about the trader, not about the trading system.
I don’t really think about my “pinbars or disagreements.” I know what it's like, but I need to fight my dark side - you know, clear out my fear, greed and stay calm .
It's not just about PINBARS/DIVERGENCE, M5 or H1..whatever you want, it's about what you think...!
P.S. I hope you understand. The deal under the text may be a great deal for some and is +2%. For some it is 0, and for some it is even a losing trade. Why? Is the system bad? No, this is a trader.
16-4-09
All you need is a simple trading system, a desire to succeed, and a great mind for trading.
A person changed my life, his name is Ryanmcd, this article is dedicated to him, I want to humbly continue, what he did, I want to follow his way, step by step, and use his method to make great business.
Since I saw his approach I am very excited about his great system and I am 100% confident in my trading. I have been trading in his style for over 7 months and I have gone from an unprofitable trader to a profitable trader.
That's what I said to Ryanmcd.
September 23, 2008 8:10 pm
Yancone
Right decision. Good luck to you, you gave me a great idea. I want to train it as hard as possible.
You don't need to post anymore because it's still the same point, over and over again! I realize this.
thank you all
Now
I wanted to put up some of my old posts.
There are 2 simple settings
1st) - Simple rule - counter trend, called "countertrend"
There must be RSI divergence and a big pin bar (following the hammer somewhere)
Example here
There you can see great setups - great pinbars, great divergences, great trades.
For example, this is the first setup, continue tomorrow.
:-)
General information
I want you guys to know one thing.
There are some simple rules:
The timeframe is m5 (or m15 / whatever you want)
One setup is about trend trading,
One setup is related only to the countertrend of the RSI divergence.
It's about price action and trading one bar. It's a bar called a "pin bar" and it looks like this >
The first one is easy - counter trend pinbars always divergence from RSI
If you want to go short>
(inside blue circle)
and very long>
The RSI is 6, the blue line is ema 21, and the red line is SMA 50.
The second one is easier
Simple rule: all you need is a trendy and beautiful pinbar.
(note if there is a div too, in the transaction, it's usually A+++)
Basic School #1:
Basic School Step One: How We Recognize a Good Pinbar
Let's get started, I see a lot of you doing it wrong and I'm worried about your money. I think some people still don't understand location, imagine it's like a real estate business (you're selling a house or renting it out), location, location location. Look at this picture, I made a super simple picture in MS Paint, let's call it the basics of how to decide.
Setting 1 I see this a lot, maybe it's "pinbar", but you shouldn't even think about it. Here's some random crappy bar hiding in the shadows of previous bars
Setup 2 is the A+ you've been waiting for, it screams in your face, I'm here and you just can't miss it.
1 - As I wrote, the last pillar, especially if you are a newbie, you may think this is a great pinbar, you see the pinbar and make a no-brainer deal because you saw the cute pinbar (you bought the house and then you realized it was in the middle of nowhere) again think about the location (and shape).
2- Perfect shape, it's not hidden from the previous bar, this setup is perfect. Why? Open + Close + - are equal, the lowest is very close and the highest is huge (this could mean the market is exhausted or whatever) then you trade
Basic School #2:
Basic School Step Two: How We Recognize Good Settings (Pinbars in Trends)
It couldn't be simpler. You see a clear downward (or upward) trend, and you trade on corrections. how? Wait for our pinbar (as you already know, it's trending, so you don't need a divergence like a CT (counter trend trade)). Also, if there is even a div in your trend trade, you should be more sure.
So how do we identify it? Well, I have another big secret, it's just the location and shape.
1 - You can see that we are in a downtrending market (imagine, clearly a long term trend, the market corrected, you see your signal (pinbar), I drew 1* in it, there is space , it means that the pinbar is not in the shadow of the previous bar, so you trade
Imagine Christ the Redeemer (statue) on a hill in Rio de Janeiro, turned upside down (picture below)
2- You are in the same market where some bars have formed and you might think "oh, this is a pinbar", no it is not. Why? It's not on a hill and there's no space, which means our "pinbar" is in the shadow of the previous pub and you run the risk of entering the fat market.
Some good people made .pdf files of my trades, with brief information on some of the charts.
Even though I made money, I do think some of the trades taken out there today were terrible (Updated September 2015) You just have to recognize what a good pinbar, shape and placement is.
You can also see my trades when you search the images I posted > http://www.forexfactory.com/search.p...rchid=16959770
Older - not updated, but still worth it I hope
If you trade good pinbars and use good money management, you can make money. You can imagine what will happen to your account if you trade and know what money management is. I'm sure you know the coin toss theory: as a simple example, heads = you win $200, tails you lose $100. You will be a +- 50% winner after 100 flips. 50x to win $200, 50x to lose $100 = you make $5000. The same goes for trading pinbars, they give you an advantage.
After mastering some skills for a period of time, it is easy to have a 50% winning rate. With the same style, you can make money.
Live your dreams and do everything you want to do.
You are a profitable trader.
I can show you and learn from you my style, my trading, buying what you need to learn, how to be a good trader.
Updated October 24, 2009
Imagination strategy:
There are 2 simple rules - pinbar goes against the trend or pinbar + div goes against the main trend. If you want to make money, don't think about it, just do it.
Strategy is in your head.
Okay, let's imagine your system.
Your trade is very good and has the best pinbar for the trend, your stop loss is 0.5% of your account (good to start with) and your target is 1%.
SL low/high below/above pinbar, tp usually unique (e.g. last low, round number, S/R level or just fixed 1%)
If you only have about 50% winners, you can make money.
Same as CT trade (counter trend) - pinbar+div.
Same SL let's say again 0.5% to start, TP 1st s/r, or fix 1% even if ema21 is good TP.
Likewise, if you win +- 50%, you make money.
If you were to trade some small crappy bars, more dojis, or some volatile pinbars, you would screw up. You need to train through simulation or trade with a small account.
The timeframe is m5 (sometimes I trade m15)
Don't try to watch 50 markets, it works everywhere, yes, but stay focused, EUR/USD, GBP, EURJPY and USDJPY are all good because the spreads are lower. If you don't know what a divergence or pinbar is, learn it, it's the easiest to learn. Your fear, greed, and impatience will increase tenfold.
If you want to succeed, you will succeed.
It starts in your mind.
Successful people are looking for ways to achieve their goals.
An unsuccessful person is always looking for excuses, reasons why he cannot achieve his goals.
It makes a big difference over time.
__________________
Updated April 22, 2009
Guys,
This is pure gold. In trading, you need to control your money, your trading plan and control yourself. I am sure that you can do everything you want.
If your winning trades are more than 50% (not difficult with this material), you are profitable. After a few months, you will understand that there is one more important thing. Don't spend 85% of your time looking at charts, looking for the best indicator or the super cool new trading system or whatever it is you do. Take the time to study your psychology. Show yourself. Trading systems often work, but traders don't. Their minds are filled with emotions (greed, fear, impatience, etc.)
What is important? No matter what trade you take, test your system. and continue using your system. I can tell you that because I trade a system, I am profitable. The problem was just in my head, not in the trading system.
This M5 trading system couldn't be simpler.
You have to realize = it's all about the trader, not about the trading system.
I don’t really think about my “pinbars or disagreements.” I know what it's like, but I need to fight my dark side - you know, clear out my fear, greed and stay calm .
It's not just about PINBARS/DIVERGENCE, M5 or H1..whatever you want, it's about what you think...!
P.S. I hope you understand. The deal under the text may be a great deal for some and is +2%. For some it is 0, and for some it is even a losing trade. Why? Is the system bad? No, this is a trader.
16-4-09
All you need is a simple trading system, a desire to succeed, and a great mind for trading.
A person changed my life, his name is Ryanmcd, this article is dedicated to him, I want to humbly continue, what he did, I want to follow his way, step by step, and use his method to make great business.
Since I saw his approach I am very excited about his great system and I am 100% confident in my trading. I have been trading in his style for over 7 months and I have gone from an unprofitable trader to a profitable trader.
That's what I said to Ryanmcd.
September 23, 2008 8:10 pm
Yancone
Right decision. Good luck to you, you gave me a great idea. I want to train it as hard as possible.
You don't need to post anymore because it's still the same point, over and over again! I realize this.
thank you all
Now
I wanted to put up some of my old posts.
There are 2 simple settings
1st) - Simple rule - counter trend, called "countertrend"
There must be RSI divergence and a big pin bar (following the hammer somewhere)
Example here
There you can see great setups - great pinbars, great divergences, great trades.
For example, this is the first setup, continue tomorrow.
:-)
Attachment to original post (1)
📦 Summary of post attachments(76)
Below are all the files shared in the reply (76).
💡 Featured Recommendations
✍️ Latest by the author
- •
- •
- •
- •
- •
- •
📌 Popular topics
- •
- •
- •
- •
- •
- •
- •
- •
🔗 You May Be Interested In
- •
- •
- •
- •
- •
- •