Making Money Trading

[superspurs]

does this mean your long from the 4 hr pin??if so was it a BE stop that saved you??

yes long from the 4hr pin,the stop is still under the 4hr pin,i moved it up because of the doubt yourself and td were highlighting,but according to tds ideas you move stops up after the next bout of PA which might indicate adding to the trade or quitting the trade.if this bar finishes as a bullish outside bar,then stop will be moved up to just under it.

 

[superspurs]

hi 1,i dont know what you mean if i identify a pivot with 3 or 4 touches,it stays on my charts or goes in my little black book.you are looking for PA at that pivot,if no PA no trade

 

[jonj]

i think it also depends on the time frames,shorter time pivots do tend to erode sometimes and loose validity ,i tend to update mine relevent to the most recent PA.

 

[1Pipped]

hi 1,i dont know what you mean if i identify a pivot with 3 or 4 touches,it stays on my charts or goes in my little black book.you are looking for PA at that pivot,if no PA no trade

Hi spurs, a picture speaks a thousand words so have a look at this to show what I mean. Would you have let it stop you putting my latest trade on because the pivot was just above where the buy order entry would be meaning no where near 1:1 risk:reward ? I mean do you still respect it ?

I update mine as well jonj, what I do now is have a profile for each pair in metatrader, with four charts (weekly, daily, 4h, 1h), and draw levels on each chart so its less cluttered. I update them all at weekend and copy to mobile metatrader so Im 'singing from the same hymn sheet' as it were. I update 4hr and 1hr as they develop through the week.

 

[superspurs]

a defined pivot will not always work because it will be support until broken and then becoming resistance,the blue area was indecision

 

[superspurs]

Hi spurs, a picture speaks a thousand words so have a look at this to show what I mean. Would you have let it stop you putting my latest trade on because the pivot was just above where the buy order entry would be meaning no where near 1:1 risk:reward ? I mean do you still respect it ?

i also had a pivot @9740 a bit higher than yours but i like trades that break thru pivots and then come back to them,and no it would not have put me off,it didn,t trigger anyway.mine did trigger and when it got to the pivot above @9740 it had broke thru the down trend line which now became support.i have got a lot of pivots above @ 9960ish be looking to exit around there.i also dont get R:R if you are going to let the trade run then you can only measure it after the fact

 

[portomar]

ok im reluctant to block up the thread with all the "thanks" posts, but id feel like some strange trading board voyeur unless i posted now after pouring over 237 pages over the last month and a half! just wanna thank t_d for sharing, at the risk of being hyperbolic, it really demonstrates the milk of human kindness which i find exists in the small experience in trading circles i have. thanks also to all the other contributors. thanks to 1pipped for all his comments and charts, same for superspurs (hope keane keeps belting them in for you next season!) hope lurkerlurker comes back to us soon, back to trading with a small amount of capital hopefully, be a shame for such an obviously keane and honest trading mind to jack it in altogether. if not, he can take solace in the fact that theres no suc thing as wasted education. later, ill post some pin calls and we'll see how well ive been listening!

 

[jonj]

anybody on this one???any thoughts???

 

[superspurs]

nice i really like that set up but not on the hourlies for me,good luck

 

[superspurs]

moved stop up to just under pivot @ 9752,still holding on tight,btw if you want to see some pins have a look at this lol

 

[superspurs]

hey jonj,you just might be standing in front of a fast train,only looking for longs on that

 

[1Pipped]

I like that setup as well jonj, I see the latest bar is also a pin (at the moment anyway, still 20mins to go until its finished). I might join you. Ive got 3 trades on already though, dont know if my brain can handle another one... then again perhaps it can !

edit:
superspurs, I also have a target about 1.9960 on £$ and then 2.0 - but only because its 2.0 not because of any levels.

 

[superspurs]

does this interest any of you hourly fans,inside bar at a pivot,38 retracement

 

[jonj]

hey jonj,you just might be standing in front of a fast train,only looking for longs on that

yeah you could be right superspurs,iv been stung a few times latley with this pair,its not one i follow closely,in fact only since a chart was posted here.the weekly and monthly do look like there could be some pullback to the trend lines though,but even so intraday prices can still move conciderably either way so im not adverse to trading ,short term, against the longer term trend.

 

[jonj]

does this interest any of you hourly fans,inside bar at a pivot,38 retracement

not a pair i watch but it looks very promising,nice pivot,nice confluencewill be keeping an eye on it
the same on the euro gbp and it is usually a good sign when they both go together .

 

[jonj]

we now have a dblhlc/bearish harami on the aussie,lets see what happens:?:
i will find out when i get back from work...sigh

 

[superspurs]

according to J16 thread that is not a DBHLC,the close needs to be lower than the low of the previous bar,but you are still hanging in there.
here is a doc from another forum people might find helpful.all credit must go to the composer of this doc whoever he or she may be

 

[portomar]

according to J16 thread that is not a DBHLC,the close needs to be lower than the low of the previous bar,but you are still hanging in there.
here is a doc from another forum people might find helpful.all credit must go to the composer of this doc whoever he or she may be

cheers for the .doc supersours. does anyone have the excel pin bar calculator? or could anyone direct me to the page it was attached to. bit lost in all the pages

 

[1Pipped]

portomar
http://www.trade2win.com/boards/first-steps/26947-making-money-trading-129.html#post381860
Is that it ?

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superspurs
Are you leaving your £$ trade over weekend, (its bank holiday on Monday just incase you werent aware). I have just moved my stop up but will leave it now.
Last time I worried about a weekend I missed a good move on the aussie, so this time will probably be the one I should have worried about and got out now

 

[superspurs]

yes still holding