Pin Bar System

This is a discussion on Pin Bar System within the Trading Journals forums, part of the Reception category; morning from sunny spain, thanks for everyone keeping the journal alive, i am going to shake things up a bit ...

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Old Jul 21, 2011, 10:10am   #2449
 
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Joined Nov 2008
Re: Pin Bar System

pocrel started this thread morning from sunny spain, thanks for everyone keeping the journal alive, i am going to shake things up a bit when i get back from holidays and i am going to focus more on my own trading but i am willing to help people improve their's if they want, i think by now people feel the pin br system is good but its hard to get exactly right this is were i come in, i can make it work i just need to get it to work for you

so if your interested in learning and participating in this "FREE" future training, trading room then let me know, pm me and i will add you

best of luck with the rest of the wekk

patrick
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Old Jul 21, 2011, 10:34am   #2450
 
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Joined Nov 2008
Re: Pin Bar System

pocrel started this thread
Quote:
Originally Posted by Gelly View Post
alert buy cac
i have not got any pivots on my charts gelly but looking t the price action, i would only be looking to get short the cac, very dangerous long in my eyes but lucky it broke down before triggering you in

well done on the audusd a lovely trade much better setup, well done mate and your my hero with your live calls
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Old Jul 21, 2011, 11:05am   #2451
Joined Apr 2011
Re: Pin Bar System

Quote:
Originally Posted by Gelly View Post
Stop to BE
Closed aud for +8pips
Pin on ftse but looks like it'll be broken
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Old Jul 21, 2011, 11:13am   #2452
Joined Apr 2011
Re: Pin Bar System

Quote:
Originally Posted by pocrel View Post
morning from sunny spain, thanks for everyone keeping the journal alive, i am going to shake things up a bit when i get back from holidays and i am going to focus more on my own trading but i am willing to help people improve their's if they want, i think by now people feel the pin br system is good but its hard to get exactly right this is were i come in, i can make it work i just need to get it to work for you

so if your interested in learning and participating in this "FREE" future training, trading room then let me know, pm me and i will add you

best of luck with the rest of the wekk

patrick
Hi Patrick, yes I'm in great need of an education, I'm not really focussing enough on the rest of the chart & other things only on the pinbars, & I'm finding it a struggle to make a profit. Your offer & expertise greatly welcomed - count me in. Enjoy your holiday first & build up some sunny reserve - you'll need it back home
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Old Jul 21, 2011, 12:20pm   #2453
Joined Apr 2011
Re: Pin Bar System

Currently long gbpjpy
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Old Jul 21, 2011, 12:21pm   #2454
Joined Apr 2011
Re: Pin Bar System

gbpjpy.gif
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Old Jul 21, 2011, 12:33pm   #2455
Joined Jan 2011
Re: Pin Bar System

Quote:
Originally Posted by Gelly View Post
Hi Patrick, yes I'm in great need of an education, I'm not really focussing enough on the rest of the chart & other things only on the pinbars, & I'm finding it a struggle to make a profit. Your offer & expertise greatly welcomed - count me in. Enjoy your holiday first & build up some sunny reserve - you'll need it back home
Hope you don't mind me butting in (just ask me to delete this if so). A couple of pointers you might find useful:

Try to treat the pin as just your trigger, and not the reason for your trade. After all, the pin doesn't really exist and the market is NOT moving because we've got a pin.

For example, say you see a great bullish pin bar. This is nice. But the motivation for the trade should be that you've got a strong uptrend and the pin has formed after a pull back to a good S/R flip. The pin is just showing you that you've got the price action you're looking for at the right location.

A pin on it's own could be anything - a little pause for breath, a bit of profit taking, whatever. It just shows a certain price behaviour, but it's much more likely to be a reversal if you've got strong supporting factors.

The other thing you can do if you're struggling to get profitable is exercise more quality control. This might sound nuts and feel free to scoff if you like, but this has been my experience.

Look at things like bar size and form. If I'm taking a pin as a reversal (and remember I'm not actually taking the pin) I like to see good size, a long protruding shadow, and a strong close. People say that the close for example is just arbitrary, and so it is. But I have found that these things improve results.

So if you're struggling to break into profitability, I'd recommend trading less and being more choosy. Insist on good form and size, and heavy supporting factors. Try demoing this alongside your current approach and see how you get on.
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Thanks! The following members like this post: pocrel
Old Jul 21, 2011, 1:23pm   #2456
Joined Apr 2011
Re: Pin Bar System

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Originally Posted by milka View Post
40 points profit banked
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