Pin Bar System

Should Pocrel trade the "pin bar system" live again

  • Total voters
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  • Poll closed .
Morning,

trade alert, buying eurusd here @ 1.3130 stop 1.3110

chart

eurusd.gif
 
Hi Pocrel loving this thread, nice to see someone creating a very constructive journal without spamming trolls.

Quick newbie question, what tool do you use to specify the ever changing pivot levels? Or do you specify them manually on your charts? (i.e. horizontal lines)

Keep up the good stuff, and i apologize if you have already specified this somewhere on here!
 
pocrel said:
This is my system that i have been trading for a while now, its very profitable and i want to share it with you :

What you need to do if you want to trade along with me :

1/Pin bars

2/ 30 min charts

3/ Daily Pivot points (which can be found here) Forex Pivot Points - Free Daily Pivot Points and Camarilla Levels

4/ Markets : eur/usd, gbp/usd, eur/gbp, eur/jpy,aud/usd, and usdjpy for currencies and ftse, dax, cac40, s and p, dow, gold and wti oil


Rules for entry:

1/Pin bar must cut the Daily Pivot points this can be the DP, R1, R2,R3, S1,S2,S3

2/ The pin bar can be in the direction of the trend or counter trend

3/Entry is 1 point above or below the pin in direction of the pin

4/ Stop is 1 point below or above the pin

5/ Risk/reward must be at least 1 to 1,

6/ If you take a trade off the Daily Pivot point short then your target is S1 or if you go long then the target would be R1

example trades:
View attachment 106164
View attachment 106166
View attachment 106168
View attachment 106170
View attachment 106172

you can use an indicator to plot your pivot points for currencies which i find very accurate but if you want to plot the index, gold and oil you can use the one here on number 6 http://www.trade2win.com/boards/gen...aily-pivot-indicator-mt4-ohlc-adjustable.html

you will have to input all the levels before you trade in the morning from livcharts.co.uk this should take you a few minutes

also just to add, i will trade ftse dax and cac till 430 uk time and all the currencies from 830 to 4pm uk time
i will trade the dow and s and p just after the US open which is normally 230pm here in the uk
and i will trade Gold and OIL from 830am uk time to 430pm
any question please shout
Click to expand...

Alot people have asked me how I take my trades so here is a check list I run either in my head or on paper if you can remember it, it might help you to filter out the bad from the good trades

Check List update :

1/ Is the Trend clear
2/ pin bar looks right
3/ close to pivot levels
4/any news immanent
5/Average daily range (where are we within the range)
6/Stock market trend
7/Current time of day for what your trading
8/Is it a monday
9/Is there another value area close to the trade entry
10/ how close is a round number

These things all affect my trade entry and they are things that I can scan in a few seconds

Happy trading
 
pocrel said:
Alot people have asked me how I take my trades so here is a check list I run either in my head or on paper if you can remember it, it might help you to filter out the bad from the good trades

Check List update :

1/ Is the Trend clear
2/ pin bar looks right
3/ close to pivot levels
4/any news immanent
5/Average daily range (where are we within the range)
6/Stock market trend
7/Current time of day for what your trading
8/Is it a monday
9/Is there another value area close to the trade entry
10/ how close is a round number

These things all affect my trade entry and they are things that I can scan in a few seconds

Happy trading
Click to expand...

Hey Pat

How's it going?

Brett
 
pocrel said:
Alot people have asked me how I take my trades so here is a check list I run either in my head or on paper if you can remember it, it might help you to filter out the bad from the good trades

Check List update :

1/ Is the Trend clear
2/ pin bar looks right
3/ close to pivot levels
4/any news immanent
5/Average daily range (where are we within the range)
6/Stock market trend
7/Current time of day for what your trading
8/Is it a monday
9/Is there another value area close to the trade entry
10/ how close is a round number

These things all affect my trade entry and they are things that I can scan in a few seconds

Happy trading
Click to expand...

Hi Pocrel. Reading the Worldspreads demise news a few days ago suddenly made me think of this thread as I seem to remember you used their platinum account (£5k+ balance) to get their FX zero spreads.

Did you get you money out before this out have they wiped you out?

M
 
Thanks for your concern Mark but Worldspreads kicked me out of the platinum account last year, they said they did not like my kind of trading (or winning) so I moved on. Shame to hear about them going under I hope everyone get there money back. I think its a good warning for everyone spread your money around as anything can happen to any broker, only keep what you need in the account.
 
Heading out to the London Traders Network drinks night tomorrow night at Penderel's Oak
283-288 High Holborn, WC1V 7HP, London starts at 630pm if anyone fancies a pint and a chat about trading, 75 people booked to attend so will be a big event
 
Heading out to the London Traders Network drinks tonight 19th sep at Penderel's Oak
283-288 High Holborn, WC1V 7HP, London starts at 630pm if anyone fancies a pint and a chat about trading, over 100 people booked to attend so will be a big event
 
pocrel said:
Heading out to the London Traders Network drinks tonight 19th sep at Penderel's Oak
283-288 High Holborn, WC1V 7HP, London starts at 630pm if anyone fancies a pint and a chat about trading, over 100 people booked to attend so will be a big event
Click to expand...

sorry got a darts match
 
pocrel said:
Heading out to the London Traders Network drinks tonight 19th sep at Penderel's Oak
283-288 High Holborn, WC1V 7HP, London starts at 630pm if anyone fancies a pint and a chat about trading, over 100 people booked to attend so will be a big event
Click to expand...

How did it go?
 
D70 said:
How did it go?
Click to expand...

Great Night out, biggest yet in the meetup group, if these number that to get bigger and bigger then a new venue will have to be found.

I did not meet alot of people from trade2win but hopefully any London based ones can make it to the next meetup

The organiser Paul is a great guy and worth meeting just alone for a chat, also this time people were divided up into different groups depending on what they trade and timeframes so it helps you to pick who to chat too

patrick
 
pocrel said:
Great Night out, biggest yet in the meetup group, if these number that to get bigger and bigger then a new venue will have to be found.

I did not meet alot of people from trade2win but hopefully any London based ones can make it to the next meetup

The organiser Paul is a great guy and worth meeting just alone for a chat, also this time people were divided up into different groups depending on what they trade and timeframes so it helps you to pick who to chat too

patrick
Click to expand...

I'll try for the next one.
 
Just chat and drinks, nothing to serious and anyone trying the hard sell is told to move on, but its a chance to chat with alot of home traders about anything you want, I wont be at the next meeting but will try to be at as many as I can, let me know if you decide to go so we can have a chat
 
Hi guys,
Just found this thread and still ploughing through it (I am a refugee from Net Trap and RH's other efforts, looking for a more intuitive price action centred system). Lots of reading to go but seems to be a first class method, but from the recent activity the thread seems to have died somewhat. Anyone still following this system? Any help would appreciated.:confused:
 
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