Pin Bar System

[Gelly]

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)

Thanks again, I was already using that version, so put on the pivot tool & as you say the levels are practically spot on.
BTW, are you trading everything s normal it being NFP day? Cheers, Geoff

 

[pocrel]

Thanks again, I was already using that version, so put on the pivot tool & as you say the levels are practically spot on.
BTW, are you trading everything s normal it being NFP day? Cheers, Geoff

yes Geoff that UWC demo account seems to be the best i have seen for the pivots and i have used alot of accounts (but you can get complacent so just double check before taking a trade)

i am trading as normal but extra careful, to be honest its best not even to trade today alot people dont trade it just because its to much like a casino, but we will see how it goes, i certainly wont be trading anywhere near the figures times

 

[jm4x]

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

Top of the morn Patrick, I'm going over to livecharts and look around. I'll just set up a PIN BAR profile in the mt4 today. Thanks Jeff

 

[pocrel]

Top of the morn Patrick, I'm going over to livecharts and look around. I'll just set up a PIN BAR profile in the mt4 today. Thanks Jeff

ah morning Jeff, your a mad man getting up a this hour to trade this system, i really hope you make some money from it, if not get back into bed and trade the system in US market times might be better for your health :cheesy:

but good to see you here mate👍

 

[pocrel]

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![/QUOT


Its a good idea to demo first but the sooner you get onto real money the better i think as you will not have the same emotions when real money is on the line (even if it s 50p per point)

on 30min time frame there is plenty of trades, perhaps you need to start at a slower time frame perhaps 4hr so you can digest the market and whats happening and then if you think you need something quicker move down but only when you know what your doing

i trade a real money account and i make decent enough money from it but i also work so not as much pressure on me

good luck with your first trade whatever it is👍

 

[pocrel]

trade alert : shorting wti now

 

[pocrel]

trade alert : shorting wti now

chart

 

[pocrel]

chart
View attachment 115444

banking all profits on wti, lovely move down

half at +23
other half+30

so total +26.5 full points on wti

 

[pocrel]

chart
View attachment 115444

alot of technical things lined up there for that move down

1/ trend line break followed by retrace back to the trend line

2/ double top

3/ round number support 00

4/ pin bar

5/ pivot point

 

[pocrel]

trade alert looking to short eurgbp, nothing done yet

 

[pocrel]

trade alert looking to short eurgbp, nothing done yet

chart

 

[Gelly]

Hi Pocrel, I nearly took a Brent trade on 8.30 bar earlier but it looked a bit more like a doji. Wouldn't have then done WTI too, but wondered what you thought of the bar. (Crossed DP at 115.08).

 

[pocrel]

short eurgbp now 8884 stop 8896

 

[pocrel]

Hi Pocrel, I nearly took a Brent trade on 8.30 bar earlier but it looked a bit more like a doji. Wouldn't have then done WTI too, but wondered what you thought of the bar. (Crossed DP at 115.08).

to me thats a doji also so i would not have taken that bar

 

[geewcee]

pocrel where are you getting pivot data for EURGBP, its not listed on livecharts?

 

[pocrel]

pocrel where are you getting pivot data for EURGBP, its not listed on livecharts?

my autopivot plots my data for me as as i said before UWC demo account is very accurate with all pairs so i dont see why it would not be with eurgbp but if you want to cross check the levels (except R3) then you can have a look here http://www.pivotfarm.com/pivot-points.php

hope that helps

 

[geewcee]

Yep, cheers for the link Pocrel I will use that site in future.
EURGBP is a pair I had added but your screen shot made me realise my pivots were miles out compared to yours.

 

[pocrel]

short eurgbp now 8884 stop 8896

Right not got the follow on so going to close eurgbp for +1

+1 full points on eurgbp

getting close to non farm so going to back off now

morning round up

trades 2

+27.5 full points

2 wins

 

[pocrel]

well did you play black or red? 😀

looks like wti had a second go at our trend line and plummeted, great level

chart

 

[Hits76]

Its a good idea to demo first but the sooner you get onto real money the better i think as you will not have the same emotions when real money is on the line (even if it s 50p per point)

on 30min time frame there is plenty of trades, perhaps you need to start at a slower time frame perhaps 4hr so you can digest the market and whats happening and then if you think you need something quicker move down but only when you know what your doing

i trade a real money account and i make decent enough money from it but i also work so not as much pressure on me

good luck with your first trade whatever it is👍

Thanks pocrel. I know what you mean about emotions. I know you are uk based... Do you spread bet this system? I was considering spread betting with smart live markets as they have mt4 platform and allow 10p per point.

EDIT just noticed your charts are smart live spread bet! Good broker in your experience?