Pin Bar System

hi pocrel
cpl of queries:

1. brent trade - body looks a bit fat for a pin bar, i thought you erred on strict side when it came to following your trading rules?

2. you have mentioned frequently today that the markets are looking bearish or bullish and you are changing the setups you are looking (i.e. ignoring buy entries if you think its bearish and vice versa) for on the basis of your 'view':

My understanding is that a good TA strategy will decide your 'view' for you, or is that effectively what you are doing....taking a view from looking at the charts/price action but just havent mentioned it? If you are using experience/intuition/other TA signals to decide this and dont want to reveal all on T2W then fair enough. (Apols if you have already mentioned this somewhere but on quick search i cldnt find anything)

On an aside, I have enjoyed your thread and am dismayed at the negative comments you got on here since you decided to start your own service, considering your track record of live calls, and your patience in dealing with newbie questions, and that so few other members call live trades. Its perplexing that some of the so called intelligent and respected T2W members still struggle with the concept that a trader may also want to teach trading, immediately jumping to the conclusion that he/she must be a failed trader / con artist / more alterior sinister motives / general loser. There are many legitimate reasons why good traders take up tutoring (whether they swap one for other or combine the 2), i know a few traders who have done so, and it can be for so many different personal reasons, and there really shouldnt be any cause for them to justify their decisions to ppl who are doing their best to show how sad and bitter they really are.

Good luck with the site and future trading.

r

Hi rsh01

and thanks for the positive feed back put I wont get into another debate about teaching prefer to trade and teach and if someone does not want to follow or listen thats fine with me and as you said we all have different needs

going back to todays markets, I am get conflicting signals on my reading of the market especially today and with the 30min time frame things can change quickly

WTI was a long and so was brent(at the time), silver was a long and so was the euro when i last traded them

when i was talking about my last view which is a couple posts back you will clearly see that i called the index's bearish but commodities and forex eurusd and audusd bullish when i took the euro trade

All and all is been a confusing day for me as usually things follow each other but they are little out of synic today, you dont get this very often but they will revert back to normal again

hope this answers your questions and thanks again

patrick

Looking at shorting the eurgbp on break off pin lower

here is the chart

cancel that bar finished wrong in the end, shame not much setups this afternoon, I am still looking the sell the indices when i get the right bar formation

Finished for the day : Daily round up


4 trades
Brent -50 -£149

eurusd +26 £147

wti +36 +£98

silver +4 +£21

+£117

Model portfolio £1081

heading out to the Theodore Bullfrog, for The London Traders' Network November 2011 SOCIAL event

if anyone in london is free come along should be bout 40 people at it

cheers

patrick

Would someone giva an opinion on Nasdaq for the 1100 bar, please? I have S2 at 2314. May close above or below within 3 mins!

I know that it's out of hours with, for me, a 3 point spread, but I have made money on this, OOH, before.

The 1130 bar invalidated the pin by going lower.