Have been reading some of the recent posts on Make Money Trading and cannot see how one can judge a risk, reward ratio of a trade. They are talking about risking 5 to make 50. How is that assessed? Damned if I know how it is done. I know what is possible, but not whether it is likely! Even if you are able to tell me this, how do I know that your opinion is correct?
This is what puzzles me about all of these ideas. There is so much faith and not a great deal of substance. Of all the charts I have seen on this thread, they are only a miniscule example of the possible trades that are similar and that fail.
This is an observation, by an unconvinced poster, that this pin idea looks good on a chart, but in practice it needs to work with other information. Last week I watched hourly pins form on instruments that I was trading and I was, also, watching RS lines with which the pins were coinciding. They did not convince me, on their own, to trade them.
Split
Hi Split
I will keep you company
Agree, I can"t put my hand on heart and say I have really checked out method to the bone (like own method) but an hour pinbar to me (trade ftse only) = first thought
oh great a stop run,
chance to get in for free usually and plenty of action both ways over the next hour or two, but then I have a different idea regards trading opportunity compared to td
I am interested where it forms and how it formed and even what time it formed, but to be honest its just a pretty bar to me that stands out on a chart.
eye balled many charts on various instruments and a hour pinbar looks at best a 50/50 event up or down after one forms and predicts very little imho
Td method does start at day time frame and to be honest split if I were to trade that timeframe I do not really see anything I do not like.
Top down approach
select the best leave the rest
Do not think it even requires fibs to be very profitable.
Does require you can select the best
Best of td setus imho are not that far off supplied link set up so you may as well buy or sell the level and forget waiting for a bar to form, if one does you can draw comfort from it if you like.
You do require that timeframe to be in your comfort level regards risk (not mine) if not :?: well your wasting your time imho, you will never overcome that gene, comes at birth imho no point in getting an ulcer over a trade, not at your age any hows Split
I suspect hour pinbars are a cheap version of the original day pinbars and you no what happens if your not willing to pay for the genuine article
Thats just my opinion and own method and ideas regarding all TA are probably best not posted
T2W Day Trading & Forex Community
Targets Split, I agree again, have always found them hard to set and stick to.
Today I do not give a monkeys what my entry target hope is or was. Have never found it works out, could never see point of holding out for an extra 10 pts when price action suggested time to leave
I trade in and out on what I see in the moment, (front end which to me is 15 min tf) based on top down pre-market look.
I work out the math after in past sense, just a record of what took place not what is taking place imho. Who said
"Every moment in [a game] is unique." it is so Just select and play your best on each shot imho.
oh look av winner up this month oh look av loser down or up, quick eye ball to see if any stand out bad uns or good uns, something I should look at perhaps in a bit more detail . Record open pl drawdown etc but do not get hung up on it imo.
Some frames at snooker are dire to look at, both players struggle to make a 30 break
WIN = END OFF, if you have to play safe for an hour forget the crowd and looking good, do whats required WIN, within 1% risk per trade of course when trading.
Have a Good week Split :clover:
Latter
