Pin Bar System

[Kingdom2008]

Well i like to take 3/4 profits at 1/1 then let the rest ride untill the next resistance point but it depends on the initial risk as i only have a small account at the moment so anything over a 40-50pip risk i can only risk £1-2 per point

For the FTSE trade this morning i was just looking for 1/1 my profit target was 27 pips and it hit 25 so my order did not hit it happend very fast as well bit gutted but at least i didn't loose anything

 

[Kingdom2008]

nice spot on the DAX r/r at the moment is very good but i know what you mean though its already over 100 pips for today i might get in if im only risking about 20 pips

 

[pocrel]

Dollar index looking a bit oversold on the 30min chart, finding support down here

this is making me hesitant to take any trades against more dollar weakness

 

[Kingdom2008]

long dax 5555 stop 5525 only going for 1/1 so limit is at 5585

 

[Kingdom2008]

Unfortunately I need to leave the computer so i have set my stop to B/E 5555 and take profit of +25 5580
happy trading speak to you when i can get on next!!

 

[uksoundz]

Hi all,

First of all I must applaud Pocrel and all the posters on this thread, it's absolutely fantastic, and even though I'm only upto page 187, I'm going to keep reading.
I've been an investor for a few years now, and am wanting to try my hand at trading, stumbling upto this thread has been a godsend, and I've downloaded MT4, and setup a demo account with SmartLive, I will now try to give this ago.

I've spent all morning trying to setup the charts, and would it be possible for someone to have a look over some to see if I've done it correctly ?

One problem I have, is although I'm on days holiday today, I usually work Mon-Fri 8-5, so quite difficult for me, although I guess I can still trade the US markets?

Once again, thanks to all posters, this truly is a great resourse, and I hope to add my own trades as/if I become proficiant.


Paul.

 

[pocrel]

Hi all,

First of all I must applaud Pocrel and all the posters on this thread, it's absolutely fantastic, and even though I'm only upto page 187, I'm going to keep reading.
I've been an investor for a few years now, and am wanting to try my hand at trading, stumbling upto this thread has been a godsend, and I've downloaded MT4, and setup a demo account with SmartLive, I will now try to give this ago.

I've spent all morning trying to setup the charts, and would it be possible for someone to have a look over some to see if I've done it correctly ?

One problem I have, is although I'm on days holiday today, I usually work Mon-Fri 8-5, so quite difficult for me, although I guess I can still trade the US markets?

Once again, thanks to all posters, this truly is a great resourse, and I hope to add my own trades as/if I become proficiant.


Paul.

hi paul and welcome

your chart look good, very like mine

but the pivot are slightly different to mine so are you using autopivots or are you manually entering the numbers from livecharts and oilngold?

on the index and commodities you need to manually enter them

and i would not use autopivots on smartlive, they always seem to be a bit off, i would setup a UWC account for metatrader and use autopivots on that, they tend to be close to livecharts

hope that helps, and best of luck with the reading

 

[uksoundz]

hi paul and welcome

your chart look good, very like mine

but the pivot are slightly different to mine so are you using autopivots or are you manually entering the numbers from livecharts and oilngold?

on the index and commodities you need to manually enter them

and i would not use autopivots on smartlive, they always seem to be a bit off, i would setup a UWC account for metatrader and use autopivots on that, they tend to be close to livecharts

hope that helps, and best of luck with the reading

Thanks, I'll admit I copied one of your charts, to ensure it was setup right

I used autopivots on the currencies, and manually entered the numbers from livecharts into the indicies, brent and wti, and used oilngold for the gold.

Are the pivots I manually entered right ?
I will look at using UWC instead, never checked it out before...

Thanks,

Paul.

 

[pocrel]

going to have some lunch hope my filling can take it, back in an hour

morning round up

no trades

 

[pocrel]

Bit late in the day for me now and no trades on my radar

No trades today

back in the morning

 

[Kingdom2008]

Long Aud/Usd at 1.04815 stop 1.04695

 

[Kingdom2008]

Chart for Aud/Usd

 

[Kingdom2008]

wow quick -13 pips for me this morning!

 

[tomorton]

I had similar plans - entered long order on AUD/USD on the 0200-0600 4hr bar - I am cautious with pins - looked a good pattern but I have scrubbed it now.

 

[Kingdom2008]

nice one forming on the eur/gbp at the moment not confirmed yet tho

 

[pocrel]

Morning, always good to let the market tip its hand for the morning before entering

dollar index pushing up in to support so this breakout could be false

nothing on my radar yet

 

[pocrel]

trade alert: watching the dax at the moment if we finish like this then i will place a pending order to get short

 

[pocrel]

trade alert: watching the dax at the moment if we finish like this then i will place a pending order to get short

View attachment 121186

that order is cancelled now on the dax short

 

[pocrel]

Morning, always good to let the market tip its hand for the morning before entering

dollar index pushing up in to support so this breakout could be false

nothing on my radar yet

no sense of direction yet this morning, as i was saying earlier the initial breakout was dangerous as the dollar index was pushing up into support

here is the chart




now what has happened is that alot of people have been caught short here and will be looking to cover so that fuels the rally,

i am now looking for a little pull back to get long this market

 

[pocrel]

trade alert: order pending on the eurusd long