Pin bar? Not again - Page 2
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Thread: Pin bar? Not again

  1. #11
    Quote Originally Posted by featurelion View Post
    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.
    Can you show your trades with pinbars? I think, everyone in community will be interested in seeing how it really works. Why not to participate in trading journals contest?

  2. #12
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    I may not know how other traders takes this, in my own trading experience till this late, this trading pattern on my chart look terrible all the time i trade it, the loss i have with it is more tan the beauty they are talking about this pin bar. You should make trading of pin bar to be the alternative to your main trading checkup or verification.

  3. #13
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    Quote Originally Posted by featurelion View Post
    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.
    Yes i agree with you that pin bar formation is profitable for many traders like me,but most traders confuses to trade with the pin bar,in my trading i only first learn the trend of the market and then watch the pin bar formation is support or resistance level or it's on any swing point,some time i enter the market aggressively but mostly i want 50% retracement and after that i enter in the market which will give me more than 1:1 risk to reward ratio..

  4. #14
    Yes sometime the pinbar showing false signal.If we only open our trade for pinbar then it's not ok we have to following something for pinbar trading.We have to find support and ressistance.Where is the close the pinbar.If the pinbar have big shadow then it's properly a good pinbar.Pinbar trading is good if we follow something for the pinbar then we are not loss our trade for the pinbar trading.
    SUCCESS Is the SUM of SMALL efforts,
    Repeated DAY IN AND DAY OUT.

  5. #15
    Quote Originally Posted by Value trader View Post
    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
    Looks like you are right especially about the risk. I often losing in forex just because I think I already trade with low risk, it make me trade carelessly. And when I think I already have a good position then I just put new orders since I become too greedy to get more profit. After that my floating minus increased until my forex account wiped out. It already happen many times and thanks for this thread, it already open my mind.. :)

  6. #16
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    Usually, pinbar pattern will give signal that the price will move in reversal movement. But the signal will be accurate if it is seen in high time frame and there is no high impact news which will appear. Pinbar is candlestick which had thin body and long shadow, the body candlestick could be above or below the shadow but it's not in the middle of candlestick because it's doji candlestick. A lot of practice will make you easier to recognize pinbar candlestick accurately.

  7. #17
    Quote Originally Posted by andry777 View Post
    Usually, pinbar pattern will give signal that the price will move in reversal movement. But the signal will be accurate if it is seen in high time frame and there is no high impact news which will appear. Pinbar is candlestick which had thin body and long shadow, the body candlestick could be above or below the shadow but it's not in the middle of candlestick because it's doji candlestick. A lot of practice will make you easier to recognize pinbar candlestick accurately.
    it is certainly true that a lot of practice is needed to accurately trade with pinbar candlestick. Also pinbars may not be too significant in smaller time frames except the market is already in oversold or overbought. And it is certainly good to trade pinbar with other indicators.

  8. #18
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    Quote Originally Posted by Value trader View Post
    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.

    Attachment 2596

    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?

    Attachment 2597

    Good luck!
    This is really very nice information and i will definitely use this in my trading as this quite sound good that in the bottom we can find the hammer and we can also less the risk in the trading although this is something new for me but as a newbie i will make use of it in my trading and i will see what and how it effect my trading.

  9. #19
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    Quote Originally Posted by jonking View Post
    it is certainly true that a lot of practice is needed to accurately trade with pinbar candlestick. Also pinbars may not be too significant in smaller time frames except the market is already in oversold or overbought. And it is certainly good to trade pinbar with other indicators.
    As this pin bar is being formed, it can not make you to do trading with it and get successful result with lower time, so, you are correct about the higher time frame on this, it is the way that will make trader to get less stress or headache on it and remain focused. It is good that you confirmed this with your trend trading too, if changed.

  10. #20
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    Quote Originally Posted by silverlady View Post
    As this pin bar is being formed, it can not make you to do trading with it and get successful result with lower time, so, you are correct about the higher time frame on this, it is the way that will make trader to get less stress or headache on it and remain focused. It is good that you confirmed this with your trend trading too, if changed.
    yes trading higher time frames can always be more clear and more profitable especially in this matter,when you trade larger time frames like daily or at least hourly you can see the effect of news and market psychology on it while trading smaller time frames is usually random and i could not understand the movement.
    Bend your view to the charts, not the charts to your view

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