Pin Bar System

This is a discussion on Pin Bar System within the Trading Journals forums, part of the New Traders category; Originally Posted by splashy ws looking ok pocrel. twin bars... bit late in the day for me splashy i will ...

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Old Aug 16, 2011, 11:47am   #2633
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Default Re: Pin Bar System

pocrel started this thread
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Originally Posted by splashy View Post
ws looking ok pocrel. twin bars...
bit late in the day for me splashy i will leave to you

daily round up

2 trades

1 scratched for +0

1 win +17 points

not around tomorrow but back on thursday, have a good evning
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Old Aug 16, 2011, 11:59am   #2634
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Quote:
Originally Posted by pocrel View Post
bit late in the day for me splashy i will leave to you

daily round up

2 trades

1 scratched for +0

1 win +17 points

not around tomorrow but back on thursday, have a good evning
ok. Just for today i'll post lol...got in at 11444, target 11500, stop 11398, r/r 1.2:1
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Old Aug 16, 2011, 12:12pm   #2635
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ok. Just for today i'll post lol...got in at 11444, target 11500, stop 11398, r/r 1.2:1
stop to b/e
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Old Aug 16, 2011, 12:27pm   #2636
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stop to b/e
Out for +0. Considering the lateness in the day, i had decided to cash in if it reached 11482, yesterdays high but i blinked and the bottom fell out. Someone, somewhere must have said something...i'll find out what it was after tea...
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Old Aug 17, 2011, 2:06am   #2637
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I know it's before the Londond start, so outside Pocrel's rules but I've just taken a short on EUR/USD based on a break of the 6.00 -6.30 pin.
The reason I took it outside the rules is that it was a perfect pin, reversing in and out of a strong s/r level from yesterday afternoon and from my entry point (1.4401) my stop is 18 pips, but S1 is 50 pips away, so r/r of nearly 3-1.
But currently -9 on a pullback......
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Old Aug 17, 2011, 3:34am   #2638
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How stupid do I feel....
Set my initial T/P at S1 circa 50pips. London opened and it started falling fast, so removed my T/P, and felt quite smug when it sailed through S1, on it's way i thought to S2 where I would happily take 100pips.
Nearly cashed out when it slowed at 75pips, but greedily hung on to have my protective stop at +20 hit.
A win is a win, but I see it more as at least 30pips given away.

Worse still I took a short on GBP/JPY which was 0.9 pips from S1 at +19, now showing -16. So from having the chance of an easy 69 pips before 8.30 am, I will be lucky to stay in the black on these two trades. Must learn to manage my stops with more discipline !!!
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Old Aug 17, 2011, 3:35am   #2639
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Default Re: Pin Bar System

gbpusd long
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gbpusd-1708.jpg  
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Old Aug 17, 2011, 4:00am   #2640
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On my broker's platform GBP/JPY came within 0.003 of touching the pivot in the 8.30 -9.00am bar. R/R is 1/1 or just over, so is anyone taking it?
(I'm already in it from the pin in the 7.30-8.00am bar.)

Just broken north, so last pin invalidated, just home my earlier one stays intact.

Last edited by davechilde; Aug 17, 2011 at 4:10am. Reason: Update
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