Hi guys,
Just found this thread and still ploughing through it (I am a refugee from Net Trap and RH's other efforts, looking for a more intuitive price action centred system). Lots of reading to go but seems to be a first class method, but from the recent activity the thread seems to have died somewhat. Anyone still following this system? Any help would appreciated.
Pin bars work as well, or as badly, as any other signal. There is no reason not to use them but everything, and this goes for other signals, too, depends on the traders ability to decide when the trade is not performing as he wished and his discipline to cut it, then.
The whole thing is to to enter at a certain point. Some may use pins, others Bollingers, averages, highs or lows. It all depends on the trader's preference. I would say, though, that the chances of making money by using one of the mentioned methods are just as good as one based on more complicated methods.
I don't have any fish to fry, here, pocrel. I was just answering a post. I am out of touch with the reasons you had for closing and it doesn't matter to me, really.
pocrel
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No worries Splitlink, I agree with what you said. I think I stopped posting as I was just getting negative comments and you can only take so much crap from people before you give up or move on
have you talked to them? were they good traders?
Any thread with "honest" trading has got to be a positive so voted yes.
Not the first time a good journal came to an end because of constant negative comments from members.
PaddyMcTaff
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I have voted and will follow that up by posting as well (for the first time on this forum in years). I have read this thread from start to finish after finding it a few weeks ago and after doing the whole 'searching every system in the world' thing this is easily the one I feel comfortable with in terms of timeframe, simplicity (I have always been drawn to price action alone) and also the fact that the system hasn't changed through the thread like so many others.
I would just like to say a huge thank you to Porcel for his time and effort and that I will be gutted if the thread stops because of the standard forum idiots.
If nothing else why not treat it like a personal blog for people to follow along and ask useful, relevant questions. If you get negative crap just ban people. There are a number of threads on Babypips and FF that are like that and have been v sucessful. A good example is the stairstep breakout box system on FF where the thread owner was super strict in the first instance and now there is a group of committed followers, none of whom have time for any lazy haters etc who try to be negative or ask questions without bothering to read the thread first...
Andy
I would just like to say a huge thank you to Porcel for his time and effort and that I will be gutted if the thread stops because of the standard forum idiots.
If nothing else why not treat it like a personal blog for people to follow along and ask useful, relevant questions. If you get negative crap just ban people. There are a number of threads on Babypips and FF that are like that and have been v sucessful. A good example is the stairstep breakout box system on FF where the thread owner was super strict in the first instance and now there is a group of committed followers, none of whom have time for any lazy haters etc who try to be negative or ask questions without bothering to read the thread first...
Andy
I was trying something new, today, because I can afford it, just now, and it involves a bit more stop risk than I normally use.
I don't view pinbars as anything more than a curiosity but thought that I would mention this one. It is the the 1400 2 hour pin on Footsie.
Just in case anyone is interested. I hope that it works, because I am short, at present. I have been higher and running at a loss, but am now getting into profit.
I don't view pinbars as anything more than a curiosity but thought that I would mention this one. It is the the 1400 2 hour pin on Footsie.
Just in case anyone is interested. I hope that it works, because I am short, at present. I have been higher and running at a loss, but am now getting into profit.
pocrel
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Nice little setup splitlink, I am currently short the s and p so looking at something similar, let hope it works for both of us
pocrel
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This is not a pin bar system setup but it has some elements, I love fading the 1.27 fib extension of the previous up trust, no need for a confirmation bar just enter at that level and ride it back to previous days high or previous weeks high which happen to be the same from yesterday. The zigzag indicator help to measure the the move just for anyone who wants to try something a little bit different, I find this works very well on the 1 hour time frame and also we should be close or at Average Daily range to reduce stoploss risk
I've been trying the SP, too, but have not been able to get too enthusiastic about it. I found it very slow, perhaps because it has been running sideways for a while. The Ft has a 1 point spread and, although it is OOH two hours after Wall Street opens, it seems to move the same and has more points to the move. Probably my imagination.
pocrel
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and there you go pattern complete, last weeks high becomes support now
I would always recommend having the previous weeks high and lows and previous days high and low and use them as support and resistance if your struggling to find levels
pocrel
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Just to show people what I mean by using previous highs and lows
here are a few examples from today and this can be used on all time frames and the levels you might want to keep an eye, this is very easy support and resistance to mark on your chart, now just like anything else it does not work all the time and you should base your entry on a few other things
usdcad
wti
gold
here are a few examples from today and this can be used on all time frames and the levels you might want to keep an eye, this is very easy support and resistance to mark on your chart, now just like anything else it does not work all the time and you should base your entry on a few other things
usdcad
wti
gold
