Pin Bar System

[DDI]

out of eurjpy with 10 pips loss (in fact the high of pin was hit but i had a lucky escape as my stop was a few pips higher.

sorry if I am not posting charts as I have added so many indicators and moving averages that it wouldnt be very clear. it is the 10:30 to 11am bar.

 

[pocrel]

trade alert watching eurousd for entry long

 

[pocrel]

trade alert watching eurousd for entry long

long euro now

chart

 

[DDI]

long eurjpy

 

[DDI]

long eurjpy

from 11571 stop 11544, on bar that closed 3pm

 

[DDI]

from 11571 stop 11544, on bar that closed 3pm

out 90 for +19

 

[pocrel]

long euro now

chart
View attachment 114316

closing full position on the euro +24

+24 full points

getting late in the day for currencies for me

 

[advfntrader]

Porcel am I correct in thinking if you had seen it you'd also have been long the EUR previous pinbar and that would have been stopped out

 

[pocrel]

Today round up:

2 trades

+45.5 full points

back tomorrow morning

 

[pocrel]

Porcel am I correct in thinking if you had seen it you'd also have been long the EUR previous pinbar and that would have been stopped out

hi advfntrader, i did see the previous pin bar and i was going to post it on as order pending, but by the time i setup the trade the pin got broken

so the previous pin got broken to the down side before we broke up so the pin was negated

hope that makes sense

 

[advfntrader]

ah I see now

 

[DDI]

Pocrel & DDI, as you have both been running this system for a while. Do you have any stats on the more profitable instruments (ant the ones to avoid). Just from a kind of feel for the trades as they are happening it looks like brent and wti have been the best performers lately, The jpy pairs seem good for at least 1:1 and maybe the GBP pairs being the worse of the lot.

Hi Mata Nui,

Here is what I have so far:

Oil: 22 Winners, 9 Losers, 5 x 1:1

Forex: 47 winners, 29 losers, 18 x 1:1

Indices: 13 winners, 11 losers, 4 x 1:1

Gold/Silver: 10 winners, 9 losers, 7 x 1:1

 

[DDI]

The only logic I can think of for poorer results of indices and gold/silver:

1) Index "out of hours" prices sometimes move substantially. Thus the cash pivots can sometimes be meaningless. For eg if USA crashes late in the day (taking euro futures down with it), then the pivots calculated from High/Low/Close values on cash ftse/dax may be of little value for the next morning.

2) Gold/Silver pivot levels are the most obscure. Livecharts (when it works) says one thing, OilnGold another and broker autopivots something else!

 

[pocrel]

Morning line are drawn, i think we missed a nice setup with silver so i will leave it

as for today i need to do some diy around the house so i wont be trading as much

also heading to tokyo tomorrow so will be back for a full week from tuesday

 

[pocrel]

trade alert : long ftse now

 

[pocrel]

trade alert : long ftse now

chart

 

[pocrel]

chart
View attachment 114386

going to close the ftse for +0

no point holding it for Retail sales news in a few mins

 

[pocrel]

Not sure if i will get another trade today and working tomorrow

so weekly round up

trades: 7

+147.5 full points

great stuff

 

[mcclaine]

Not sure if i will get another trade today and working tomorrow

so weekly round up

trades: 7

+147.5 full points

great stuff

Thanks Pocrel. Question for you and others who trade this system. Do you risk a fixed percentage of your account per trade, so that whether the stop loss is 10 points away or 100 points away, you only risk $X and adjust lot size accordingly?

If so, should we make the weekly results based on number of trades won and lost (with net wins X stake giving us the weekly potential profit) as opposed to the number of net points gained in a week (which may not indicate a profitable week if you lose more trades than you win?) - something like what DDI does?

Not asking that you do more work(!), you've already done far too much by T2W standards with this stellar thread, just checking if what I'm saying above makes sense.

thanks and have a good trip to Tokyo.

 

[pocrel]

Just manage a quick look at the charts and i see it was a very nice day for the system, did anyone catch the winning setups?

i dont really see anyone posting and there are plenty who follow the thread