Pin Bar System

[mark120169]

Pocrel,

What's your opinion of this recent Pinbar short on EJ ? Would you set up for this. I ask because I have seen you post trades of longs off short closed (red) pin bars and shorts off long close pinbars (green) before.

However I did notice this one both opened and closed long above the pivot?

Would you say this is too dodgy becasue of the open and close but would be ok if it had closed long but the open was below the pivot, so it closed long through the pivot as such?



M

 

[pocrel]

Pocrel,

What's your opinion of this recent Pinbar short on EJ ? Would you set up for this. I ask because I have seen you post trades of longs off short closed (red) pin bars and shorts off long close pinbars (green) before.

However I did notice this one both opened and closed long above the pivot?

Would you say this is too dodgy becasue of the open and close but would be ok if it had closed long but the open was below the pivot, so it closed long through the pivot as such?



M

bar looks like a doji to me, not a very clear bar so would leave that one

 

[pocrel]

trade alert long ftse now

 

[pocrel]

trade alert long ftse now

chart

 

[mark120169]

chart

View attachment 116666

Cool. I had decided to take this on papertrade. I like to make my own decison before checking here some time later. So I would be live on this too if live trading.

M

 

[pocrel]

chart

View attachment 116666

moving my stop on this occassion due to the second pin bar just to reduce risk so stop now sitting under the 5687 level

looking to take profits around the 5719 level

 

[pocrel]

that will do me 5718 so +14 full points on the ftse

 

[pocrel]

going to have a break

totals for the morning : 3 trades

2 wins
1 loss

+30 full points

 

[mark120169]

that will do me 5718 so +14 full points on the ftse

Cut profits short @ less than 1/2% ? Is this because you don't like to leave trades running when away from the screens? Why not just move to +1 or sell 50% and move to b/e?

For sure that market doesn't act any differently while you are watching it on the screen!

M

 

[pocrel]

Cut profits short @ less than 1/2% ? Is this because you don't like to leave trades running when away from the screens? Why not just move to +1 or sell 50% and move to b/e?

For sure that market doesn't act any differently while you are watching it on the screen!

M

ideally i like to be out of all positions before i have a break it just clears my head for the lunch time and i think this is a good thing as if your constantly worrying about a position while you have a break you will never relax its like having a over night position its always in the back of your mind and you never get a great nights sleep

its just something that keeps me sane in this battle with the markets and oneself

 

[pocrel]

On call for work so not sure if i will get another trade today will have to wait and see

just want to give my monthly round up of live points i made

Week 5: 10 trades +40.5

Week 6: 2 trades +6.5 (half a week)

Week 7: Holidays no trading

Week 8: 8 trades +12.5

Week 9: 19 trades +48

Trades: 39 Total Points: +107.5

Monthly round up of live points made:

Week 10: 25 trades +14

week 11: 7 trades +147.5

week 12: 15 trades -123 (gold pivots wrong)

week 13: 5 trades +77.5

week 14: 1 trades +10 (working most of week)

week 15: 10 trades +47


Trades: 63 Total Points: +173

 

[mark120169]

Gold and Silver pinbars both came good off the long pins that formed 12.30 - 1pm.

Gold went live on time but silver took 4 candles to trigger but should have cancelled but I left it as trading on a demo account and felt the precious metels might snap higher.

Both just snapped and came in for over 1% each, slightly bigger than 1:1 RRR.

Gold +41 pips (32 stop)

Silver +24 pips (24 stop)


M

 

[pocrel]

Did anyone buy the lunch time Gold pin?



slow to begin with but if you held your nerve

 

[pocrel]

Gold and Silver pinbars both came good off the long pins that formed 12.30 - 1pm.

Gold went live on time but silver took 4 candles to trigger but should have cancelled but I left it as trading on a demo account and felt the precious metels might snap higher.

Both just snapped and came in for over 1% each, slightly bigger than 1:1 RRR.

Gold +41 pips (32 stop)

Silver +24 pips (24 stop)


M

silver would not have been a trade, pin is below the pivot and also if order fails to kick in after two 30 min bars order to buy or sell must be cancelled

well done on the gold

 

[megamuel]

EUR/JPY trade...

 

[pocrel]

trade alert : long audusd

chart

 

[mark120169]

silver would not have been a trade, pin is below the pivot and also if order fails to kick in after two 30 min bars order to buy or sell must be cancelled

Decided to set up for Silver as Gold was live and it touched the pivot @35.48 on my SLM charts. Also the next three candles could get below the low of that pin and kept setting higher high's, the last also just touching the pivot again. With 1 pip + spread as trigger I knew it wouldn't trigger until the pivot was breached and sure enough on the 4th candle it went and shot straight up to R1.

Like you say sometimes you have to use your own judgement like one of your trades yesterday that just touched the pivot, Oil one I think.

M

 

[pocrel]

trade alert : long audusd

chart

View attachment 116674

going to call it a day folks out of audusd for +0

just survived it

not a bad week

 

[pocrel]

weekly summary

trades:11

+47 points

have a good weekend i am back on monday

 

[mark120169]

weekly summary

trades:11

+47 points

have a good weekend i am back on monday

Made 4 trades today on Demo.

1 loss , 3 wins, +68.5 pips , or - 1% and +3% , so net +2%.

Interesting.

M