Pin Bar System

Should Pocrel trade the "pin bar system" live again

  • Total voters
    24
  • Poll closed .
Hits76 said:
Hi Pocrel would you be able to give an idea of your win rate and average R:R? Also have you tried trading this method using support and resistance line instead of pivot levels?
Click to expand...

hi hits76

on average r and r is 1 to 1 but can go much further, so average trade looks for about 20 points but it can be more or less

hit rate is about 60 to 70 % but will depend on what r and r you use, this reduces if you look for more than 1 to 1 or just automate the whole thing but of course you only need one big winner to gain back losses

as for support and resistance i use them in conjunction with the pivots, you will find me not taking all the trades that have setup on the pivots that s because of support and resistance levels may not agree with the pivots or they are in the way, but as i am trying to keep the system simple i prefer people to try and figure this stuff out for themselves,
but i will point out what i am thinking and seeing if i feel its significant

patrick
 
pocrel said:
mine is an autopivot indicator (posted many times on the journal), which is very reliable its only off by a pip so cant complain on that and the pin would cut all those levels shown on livecharts anyway so trade away and good luck with it

yours sounds a bit off and this can be to brokers times so if your broker times are not reliable then you ned to double check the pivot levels with live charts before taking the trade

cheers

patrick
Click to expand...
Your comments about gold pivots yesterday saved my bacon today - as you say they are quite a bit different. (So are silver). However I missed the eur trade this am because my pivot levels were different to yours. I use indicator mentioned above, but this is different to Livecharts by enough to prevent me getting into a couple of trades you have found recently. It means I have to manually enter forex pivots to see if there is a trade, as well as if it is valid. I'm having trouble with all these differences, although I use SML & am in UK, so should be same as yours. Yet your pivot seems the same as livecharts. Any advice well appreciated. Thanks, Geoff
 
pocrel said:
Missed euro long trade this morning, well i did nt miss it but i had in my mind that the euro was going down instead of just following the price action

its hard to get something out of your mind when its implanted itself in there

chart
View attachment 115380
Click to expand...

I had this as my first PB trade 2day +25 couldve went way further
 
Gelly said:
Your comments about gold pivots yesterday saved my bacon today - as you say they are quite a bit different. (So are silver). However I missed the eur trade this am because my pivot levels were different to yours. I use indicator mentioned above, but this is different to Livecharts by enough to prevent me getting into a couple of trades you have found recently. It means I have to manually enter forex pivots to see if there is a trade, as well as if it is valid. I'm having trouble with all these differences, although I use SML & am in UK, so should be same as yours. Yet your pivot seems the same as livecharts. Any advice well appreciated. Thanks, Geoff
Click to expand...

hi geoff

i tend not to use smartlive for currency pivots as they are off more than most service providers if you use the autopivot indicators that i use on the site (its been posted many times) and download UWC DEMO account i find the autopivot indicator works very well with there time periods and is rarely off livecharts levels (except for r3 which we do not use from livcharts as they calculate this differently to us)
 
Hits76 said:
Hi Pocrel would you be able to give an idea of your win rate and average R:R? Also have you tried trading this method using support and resistance line instead of pivot levels?
Click to expand...

here is an example of a nice confluence for me hits76

i am not trading gold today but if i was then you have a pin bar , pivot level and a lovely bounce of a trend line also you have old resistance becoming support

chart
gold.gif
 
Last edited:
cant seem to get a trade, going to have a break

morning summary: 1 trade (scratched)

+0
 
jm4x said:
Pocrel, I have found your system to be very good. I live in the Midwest of the USA and see you still start some post that your lines are drawn and ready to trade. Do you just verify the Pivots. I noticed the bad trade day May 9 2011. that the pivots were an issue. Thank You, for your journal and system. I am going to get up at 3AM and try some trades. Thanks Jeff👍
Click to expand...


Has anyone seen jeff? his alarm must not have gone off 😆
 
pocrel said:
Has anyone seen jeff? his alarm must not have gone off 😆
Click to expand...

in answer to your questions, i manually input my index and commodities from livecharts and oilngold in the morning, i enter these into a manual pivot indicator high,low and close to get my levels and i use autopivot for currencies, but i always cross check the autopivots with livecharts.co.uk and oilngold.com to ensure i have the correct levels for the day (the only difference is that we do not use r3 from live charts)

hope that helps

patrick
 
pocrel said:
banking +30 full points on brent

need some points today

so +30 full points
Click to expand...

ah snatched at it story of my life, dropping lovely now, crude oil inventories came in with surplus so you expect it to drop
 
ouch thats hurts 😢

brent chart
brent.gif


anyway that will do it for me today my patience paid off

2 trades

1 scratched +0

1 win +30 full points

catch you tomorrow
 
Hi pocrel thanks for the response. I was thinking of demo trading this system but using support and resistance levels mostly. This will be my first ever attempt at trading and I was concerned there would not be enough trades to make it worthwhile. Have you found there are enough signals to make a living from this system and are you trading from a live account? Please forgive me if I am being too intrusive!
 
pocrel said:
in answer to your questions, i manually input my index and commodities from livecharts and oilngold in the morning, i enter these into a manual pivot indicator high,low and close to get my levels and i use autopivot for currencies, but i always cross check the autopivots with livecharts.co.uk and oilngold.com to ensure i have the correct levels for the day (the only difference is that we do not use r3 from live charts)

hope that helps

patrick
Click to expand...
Yes that helps a bunch, could you now ring me up at 3AM like a drill sarg and say get the hell up you @#$%^&^%$@# time to trade , Ha just kidden. I'll be up this mo rning. Thanks Pocrel
🙂
 
morning, lines are drawn watching the market nothing going on at the moment again gold pivots a little out so will pass on it again today
 
also non farm payroll day so i dont expect alot of movement before the numbers could be a bit boring till the numbers then all hell will break loose
 
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