riskier trade attached since counter trend but had nice rsi divergence. Closed for 5 pips since not much distance to 21ema or middle BB18.
This stuff works.
Steve
This stuff works.
Steve
James16+Rayanmcd(Jan kone) and ME 7 replies
DislikedJankone & Supreme:
Thank you for explaining what is now obvious with my lost trade I posted on the prior page. It was embarrassing but its what I did at the time. Both of your time is valuable; I appreciate you spending some of it helping me.
It would help us more if others would post their trades more often. Let's not keep this great system a secret.
I'll learn to be a better pinbar trader. After a few days with this method I am pleased with my winnings and basic understanding. Executing this knowledge flawlessly will take more time but...Ignored
Dislikedis the 34MA the one which is goldenrod/dark-yellowish in color?
the blue MA is the 21MA?
that PB is in-trend, + below mid-BB + below 21MA,
so i think it's a good one to take.Ignored
DislikedWell I've been having some success with the backtesting, a couple of observations:
a. I'm surprised how well inverted pin bars work as being pullbacks, haven't really played the numbers out but it gives a great opportunity to get in with a low stop and an increased position size.
b. I've been having some difficulties with setting stops, do you guys place the stop right at the bar high of the pin or give it a 1-2 pip buffer? I keep getting knocked off of a good position to find the market reverse position right at the top of the pin and go...Ignored
DislikedHaven just been closed out on the previous PB short, I now saw this setup. With a great PB at even a better position than the previous PB and still closed below 1.4300 I thought this to be A++. This time I was going to wait for the break of the bar which it did on the next bar just to be more conservative. Unfortunately, the same result.
Ryan and Jankone, am I FUBAR in my thinking or is this just one of those times that it just doesn't work?
ThanksIgnored
Disliked......
It would help us more if others would post their trades more often. Let's not keep this great system a secret.....Ignored
Disliked...I think there are two ways out of this, too be very picky like Jankone, or to take every setup and count that there will be more winners than losers. Any other ideas?Ignored
DislikedJazflyer,
what's FUBAR?
if i may...
First observation, u are plotting divergence lines in a different way (u are plotting lines within the candle body). plot lines on the highs &/or lows of the candles &/or the RSI.
on the first chart, price seem to have entered a range since about 12 bars prior the PB (the one touching BB low) timed 11.00. the first PB u based your short entry on was above 21ema & the PB closed above the mid-BB. u can also say the PB was [u]in between...Ignored
DislikedJazFlyer - You need to work on the divergence aspect. A divergence would be when price makes a new high/low and rsi does not. In your example if you were looking for a short, rsi should have a downtrend not a uptrend. Here is a pic of rsi divergence... there is not a pin bar for this example but price makes a new high, and rsi is diverged.Ignored
DislikedTrader - wouldn't we still have divergence if the price line was horizontal and the rsi line was up? Just trying to get a grip on determining divergence.Ignored
DislikedI took the same two setups today. Mine was under 21, and we don't need div. with the trend trades. .....Ignored
Disliked....
As far as div goes, I was plotting it the way you suggested until I remembered a post by Jankone stating he finds div more reliable from the close of the bar. I went back and looked at his charts and found that's how he plots it.....Ignored