Pin Bar System

[mags_g]

great reversal bars off the r1 on DOW AND S AND P but risk/reward terrible, shame

Slightly better risk/reward now, but only slightly >>>

 

[mags_g]

All that glitters is not always Gold, check out Silver >>>>

 

[pocrel]

Hi, would this not be one of the "negative" pin bars to avoid - i.e. it is a long trade to take but the close of the starting pin was less than the open?

Also, on DDI's chart, why were bars at 9.30 (long) and 10.30 (short) not trades? If they were, they would both have been losses?

Thanks for sharing your method - it looks very simple and has great results, but as I read through the thread and see the ones you avoided, it becomes clear that this is a very subtle method that you have finely honed with great amounts of practice.

Well done indeed, and thanks in advance for answering the questions.

hi mcclaine cheers for the support,

well the cac40 bar that i said was a trade there was only 1 point differance between the open and the close (which is very acceptable even with a negative bar, negative close)

as for the 930 long, i had looked at that but the risk/reward was just less than 1 to 1 so i walked away from it, if it was a better risk/reward it was an acceptable trade

as for the 1030 bar we are sitting at S3, we basically have no where else to aim for ie no target so i cant judge a risk/reward

and at S3 or R3 we are only looking for reversal signals so we can quantify risk/reward and position size

hope that all makes sense?

 

[pocrel]

Slightly better risk/reward now, but only slightly >>>

we still have not broken the pin low, it is only a trade if this happens, then you could look for an entry back up the pin to give it a better riskreward

great silver trade, thanks for pointing it out

 

[mags_g]

we still have not broken the pin low, it is only a trade if this happens, then you could look for an entry back up the pin to give it a better riskreward

great silver trade, thanks for pointing it out

True, guess I'm just gambling now that the pin low will break. From this higher entry point its a low risk gamble and as soon as the top of the pin is taken out I am out of there. Which appears imminent!

 

[trader_dante]

Slightly better risk/reward now, but only slightly >>>

Pocrel can correct me if I'm wrong but in my opinion the whole point of floor trader pivots is that other traders are watching them which is why they become a self-fulfilling prophecy with buy and sell limits being placed at them.

With that in mind, I wouldn't place them in the Dow rolling unless I was trading the Dow rolling off a floor trader pivot in the Dow future. The reason for this is that the Dow rolling is not traded directly.

As an example of this: your cash rolling has largely ignored the pivots today whereas in the Dow future they have worked perfectly.

 

[mags_g]

Pocrel can correct me if I'm wrong but in my opinion the whole point of floor trader pivots is that other traders are watching them which is why they become a self-fulfilling prophecy with buy and sell limits being placed at them.

With that in mind, I wouldn't place them in the Dow rolling unless I was trading the Dow rolling off a floor trader pivot in the Dow future. The reason for this is that the Dow rolling is not traded directly.

As an example of this: your cash rolling has largely ignored the pivots today whereas in the Dow future they have worked perfectly.

Would you place them in Silver rolling?

 

[mcclaine]

hi mcclaine cheers for the support,

well the cac40 bar that i said was a trade there was only 1 point differance between the open and the close (which is very acceptable even with a negative bar, negative close)

as for the 930 long, i had looked at that but the risk/reward was just less than 1 to 1 so i walked away from it, if it was a better risk/reward it was an acceptable trade

as for the 1030 bar we are sitting at S3, we basically have no where else to aim for ie no target so i cant judge a risk/reward

and at S3 or R3 we are only looking for reversal signals so we can quantify risk/reward and position size

hope that all makes sense?

Perfect, thank you.

 

[Gas in exile]

Trade alert!

 

[Gas in exile]

Pocrel, would you take this one mate?

 

[Gas in exile]

Pocrel, would you take this one mate?

Tail is .0002 off touching the S1 (on my chart!).

Close enough or no trade?

 

[brettus]

Tail is .0002 off touching the S1 (on my chart!).

Close enough or no trade?

I think thats close enough.

 

[Gas in exile]

Trade alert!

Got shaken out - Bummer! Win some you lose some eh!

 

[brewski1984]

i thought the rule was dont trade currency after 4:30pm?

 

[Gas in exile]

i thought the rule was dont trade currency after 4:30pm?

Not sure, I didn't take the USDCAD one anyway. One I lost on was Brent. Took a nice win on it yesterday. The Lord giveth and the Lord taketh away.

 

[DDI]

i took this one on wti...sorry guys i didnt post it on time as was stuck on phone

 

[brettus]

i thought the rule was dont trade currency after 4:30pm?

I think i'm gonna stick to that rule as well. The market is painful after 4:30pm most times.

 

[pozzyp]

Big moves overnight!

 

[DDI]

morning..... yup..when this happens, especially 10pm-midnight, the PP of my broker and livecharts are completely different as livecharts uses 10pm close and my broker midnight!

 

[pocrel]

morning all, anyone catch the wti entry?


just a little early for me