Pin bar? Not again
Page 1 of 137 123451151101 ... LastLast
Results 1 to 10 of 1370

Thread: Pin bar? Not again

  1. #1
    Educator
    Join Date
    Jun 2013
    Posts
    1,105
    Promo (¢)
    15
    Thumbs Up
    Received: 571
    Given: 191

    Pin bar? Not again

    Hi traders. Today I want you to show common trap that too many traders fall into what I call «I see pinbar near lower side of the channel» or «picking bottoms»

    Recently I have read on one of trading blogs:

    «I see hammer at the lower side of the channel, we may significantly go up and now trade location is very good». This guy was searching for a bottom, obviously. This guy can feel that his loss is reasonable because the potential profit was very high, but we must distinguish potential profit and potential for profit.

    hammer.jpg

    Potential profit doesn’t make sense if potential for profit is very low. There was a story when one gambling house in England started to accept stakes for strange event – one receives 1 million pounds betting just 1 penny if duke considered as dead would enter the central street of the city on his horse.

    Guess what? This gambling house had collected 10000 pounds from those who had the feel of very low risks. The same is in trading. Every day traders think that they bet affordable money to lose, thinking that potential reward could be significant :)

    For me, risk can not be calculated just in dollars, it’s a combination of outcome (negative) and probability of that outcome. If you have low risk in trade, you have both small loss and small probability of that loss

    In recent market conditions market went through massive liquidation and overall inventory became neutral if not short. So, why price has to grow? It shows that demand is no longer there. Of course, it doesn't mean that new buyer can't enter at low prices, but we are expected to trade what we see, not what we think, right?

    By the way - that's how this story with a pinbar continues. Think this is random move?

    euro_go.jpg

    Good luck!

    Not allowed!

  2. #2
    Banned
    Join Date
    Sep 2013
    Posts
    27,036
    Promo (¢)
    0
    Thumbs Up
    Received: 285
    Given: 50
    Hello Value trader, than you for this once again, I have being trying to follow the issue of the pin bar for many times, but it is still to know success. I will like to ask you if you are actually using this for success? The last time i use it, i lost all the money. Also, presently i am seeingthis same picture you uploaded on the usdjpy, but it is scary to enter such presently. Please advice.

    Not allowed!

  3. #3
    Registered user
    Join Date
    Nov 2013
    Posts
    167
    Promo (¢)
    270
    Thumbs Up
    Received: 6
    Given: 0
    when you are trading pin bars you must be cautious as trader to make sure that what you are trading is the right pin bar at the right place because not all pin bars can give you what you want because the forex market too always produce pin bars just for the deceit it occasionally does so that innocent traders can loose money.

    Not allowed!

  4. #4
    Registered user
    Join Date
    Mar 2013
    Location
    Am fuly awear of the difficulties of life,so ill try to bounce back
    Posts
    1,169
    Promo (¢)
    0
    Thumbs Up
    Received: 9
    Given: 1
    Funny enough I just had the same experience a few days ago,in the EURNZD,on the day chart it formed a pin bar but broke it after untreated Tate reduction in the Europe,so I entered a sell order the next day thinking the trend would continue to the down side bit to my surprise it formed another pin bar again but I still held on to my entry hoping that fundamentals would prevail I price movement,but I got stops out due to the fact that I never faces the reality that a bottom has been formed after price formed double bottom pin bar,that is to say that its important we trade what we see on the price chart and not what we think the price should move.

    Not allowed!

  5. #5
    Educator
    Join Date
    Jun 2013
    Posts
    1,105
    Promo (¢)
    15
    Thumbs Up
    Received: 571
    Given: 191
    Quote Originally Posted by cozard007 View Post
    Hello Value trader, than you for this once again, I have being trying to follow the issue of the pin bar for many times, but it is still to know success. I will like to ask you if you are actually using this for success? The last time i use it, i lost all the money. Also, presently i am seeingthis same picture you uploaded on the usdjpy, but it is scary to enter such presently. Please advice.
    What picture you are talking about?

    Not allowed!

  6. #6
    Rookie Azis Muslim's Avatar
    Join Date
    Sep 2013
    Posts
    4,832
    Promo (¢)
    -20
    Thumbs Up
    Received: 268
    Given: 172
    Yes sir, I agree with you. We can not make 1 million profit daily if we only have small amount of money to trade. Stop thinking to make huge profit using small capital because if we use small capital, we will get small profit and small risk of loss. Making 10% daily profit is better than making 100% daily because when we only focus on 10% daily, we will trade safe with low risk and will stop trading until the target reached. If we try to make 100% daily profit, we will trade with high risk and the ratio of loss also increased. Most people who trade with high risk can double his account in days but lost all of his money just in hours.

    Not allowed!

  7. #7
    Banned
    Join Date
    Nov 2013
    Posts
    14,851
    Promo (¢)
    0
    Thumbs Up
    Received: 105
    Given: 14
    I do not often trade pin par, most time i see it on chart it seen like there is a very volatile market that has messed up the trading chart. it often happen with the news statement that has a very huge impact in the market. This might still go either way if the trader is not careful of what he is doing in the market that time.

    Not allowed!

  8. #8
    Registered user
    Join Date
    Aug 2013
    Location
    Male
    Posts
    1,963
    Promo (¢)
    500
    Thumbs Up
    Received: 18
    Given: 17
    This is a learning tools for me, but I do not trade with this pin bar opportunity. Normally I make very small trade now when I found market is maintaining the trend. Abnormal market movement can bring us abnormal profit/loss, so we need to avoid if and become a easy but profitable trader through trading normally maintaining normal market trend and support/resistance.

    Not allowed!

  9. #9
    Registered user Nizar's Avatar
    Join Date
    Aug 2013
    Location
    Khartoum,Sudan
    Posts
    748
    Promo (¢)
    500
    Thumbs Up
    Received: 16
    Given: 24
    when i am faced with a bottom of a channel then i have tow choices of course which is buy or sell,but the problem is how do i know if the price is going to bounce of penetrate the channel,i personally in order to decide that i look at daily range if it is exhausted then i expect bouncing and if it is till not moved a lot the i expect penetration of the channel to up or down.

    Not allowed!
    Bend your view to the charts, not the charts to your view

  10. #10
    Registered user
    Join Date
    Aug 2013
    Posts
    1,300
    Promo (¢)
    5,440
    Thumbs Up
    Received: 5
    Given: 1
    Quote Originally Posted by silverlady View Post
    I do not often trade pin par, most time i see it on chart it seen like there is a very volatile market that has messed up the trading chart. it often happen with the news statement that has a very huge impact in the market. This might still go either way if the trader is not careful of what he is doing in the market that time.
    I love to trade pinbar every time because these pin bars gives me more and more profit every time but it should be used on support and resistance areas and on swing points. This is my favorite candlestick pattern and i use this candlestick pattern in all pairs by using good money and risk management techniques.

    Not allowed!

Page 1 of 137 123451151101 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •