In the last year I have tried lots of ideas but this is the one that I keep coming back to and now I am beginning to have some success using PA on small time frames - 5 to 15 minutes. Whether this is a short term or long term strategy for me we shall see, however my 'eye' is improving all the time.
I tend to use a stop loss and take profit of 1 ATR so I am not getting big wins but with money management and compounding it should still work nicely.
Now my question for anyone else using pinbars : The point of a pin bar is that it shows a change of direction (or continuation of direction!), the market goes up and comes down again. As such for the pin bar to be valid the next bar should continue down rapidly and not first retrace up the length of the pinbar. So I am looking at reducing my stop loss to say 1/2 atr1 and keeping my take profit at atr1. Hence potentially increasing my gains.
Has anyone else looked at anything similar. I am going to have to go through a lot of data anyway but I am curious as to others findings
thanks
max
I tend to use a stop loss and take profit of 1 ATR so I am not getting big wins but with money management and compounding it should still work nicely.
Now my question for anyone else using pinbars : The point of a pin bar is that it shows a change of direction (or continuation of direction!), the market goes up and comes down again. As such for the pin bar to be valid the next bar should continue down rapidly and not first retrace up the length of the pinbar. So I am looking at reducing my stop loss to say 1/2 atr1 and keeping my take profit at atr1. Hence potentially increasing my gains.
Has anyone else looked at anything similar. I am going to have to go through a lot of data anyway but I am curious as to others findings
thanks
max
Gravity goes both ways in forex...