4H Pin Bar Method | Forex Factory

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4H Pin Bar Method

  • #1
  • First Post: Edited Apr 24, 2008 7:20am Apr 25, 2007 6:14pm | Edited Apr 24, 2008 7:20am
hi
  • #2
  • Apr 25, 2007 6:36pm Apr 25, 2007 6:36pm
If it works for you, I'm all for it.

A pin bar isn't really a pin bar until the high (the one on your chart) or low is taken out.

If I understand you, you may enter before this happens.

Like I said, if it makes money, who cares.
  • #3
  • Apr 25, 2007 6:39pm Apr 25, 2007 6:39pm
just some thoughts;

What do you pay for the (50% * PinBar) pip gain?

- You risk missing the pinbar trade
- Imo you have a higher risk of entering a losing trade

Is it worth it?

In the trade you posted you risked ~60 pips. So your tp would normally be at 120 pips. Obviously you missed out on quite some pips in this trade by using the 'twice my risk rule'. If you want to use non-dynamic tp rules use something like; 'on first bear candle I close my long'.

Anyway; you gained 60-70 pips by entering @ 50% of the pinbar. Thats pretty good compared to your win of 120.

BUT; If you wouldve entered on the open of the next candle after pinbar has formed, and closed at first bear candle. Not only would you have gained more pips in your trade, but also.. you would have gained the 2 points mentioned above!


Also; you said you only trade the best ones on 4hr chart. These are quite rare, and to spot one in live trading is even more rare.

What I would recommend is:

- Find out if the (50%*PinBarHL) is worth what you pay for it
- Scale down on time-frame so you get more signals
  • #4
  • Apr 25, 2007 7:58pm Apr 25, 2007 7:58pm
HiI try to use this method too in conjunction with other systems I am currently testing.So far, this 4hour pinbar seems to be very promising and profitable. Looking back at history of some pairs, profits go by the hundreds of pips on this one.This is very good for swing traders. Instead of the 50% retracement of the pinbar as ENTRY, I use Stochastics and CCI and go several timeframes lower to maximize potential profits.Thank you for bringing this methiod up for discussion.I am sure there are others who will be able to contribute their experience here.How many pairs do you use this method on and how do you monitor them? Do you check every 4 hours and which platform are you using? I currently use several platforms for my demo and due to their time differences on the servers, there would be differences on the type of candles showing on them.Do you use window or audible alerts? I think I came across a 4pinbar alert in one of the threads. But I am not so sure if thayt really worked fine. I was wondering if someone got that PinBar Alert to work fine now.
  • #5
  • Apr 25, 2007 8:03pm Apr 25, 2007 8:03pm
Hey FrankSwhich timeframes lower than 4h would you recommend?do you prefere specific pairs to use this on?
  • #6
  • Apr 25, 2007 8:06pm Apr 25, 2007 8:06pm
extensive trading and talk on pinbars in the James16 threads


Best of luck on your journey,
Mike
  • #7
  • Apr 25, 2007 8:11pm Apr 25, 2007 8:11pm
Quoting Someone
Hi all,

I would like to explain a method i have been using with some success to see if anyone is doing anything simular.

Ok what i do is use a 4H chart and look for pin bars (I only take the best one's) then once one is formed I draw fib levels on the actual pin bar and place my entry at the 50% level with my stop just above the tip of the pin bar.

In my testing I noticed that most of the time price will retrace to the 50-60% fib level of the pin before heading in the direction the pin bar predicted.

I risk 3% of my account on each trade and use micro lots to get this as acreute as possible.
For example if the pin bar is 40 pips in length and my entry was at the 50% fib level my stop would be about 22pips to get it just past the tip of the pin. using an account of $1500 and risking 3% i would risk $45 on the trade.

Once the trade has opened and is at the other end of the pin gaining the 3% i risked I move stop to break even and normally close the trade once i have gained twice my risk.

Sometimes if the trend is strong and the pin is with the trend i will let it run.

Below is a picture of a pin bar with the fib levels on it, see how price came down to the 50% level before taking off!!

If anyone is trading pin bars on the 4H charts or smaller please let me know.


If anyone has any questions about this method please just ask.

-S-
Ok, What is a pin bar? How do you draw the fibs? Can you please explain this with examples. thanks
  • #8
  • Apr 25, 2007 8:13pm Apr 25, 2007 8:13pm
Quoting mbqb11
extensive trading and talk on pinbars in the James16 threads


Best of luck on your journey,
Mike
I strongly agree with Mike.
Pin bars are a great tool. When choosing the best ones on the 4H timeframe and even higher (Daily, Weekly) they can be very profitable.

The best place to get exposure and learn more about pin bars is in the James16 threads.

All the best,
Tom
  • #9
  • Apr 25, 2007 8:22pm Apr 25, 2007 8:22pm
Quoting Peacelover
Ok, What is a pin bar? How do you draw the fibs? Can you please explain this with examples. thanks
check out the James16 thread in the trading system section

and enjoy

Mike
  • #10
  • Apr 26, 2007 1:42am Apr 26, 2007 1:42am
Quoting yano125
HiI try to use this method too in conjunction with other systems I am currently testing.So far, this 4hour pinbar seems to be very promising and profitable. Looking back at history of some pairs, profits go by the hundreds of pips on this one.This is very good for swing traders. Instead of the 50% retracement of the pinbar as ENTRY, I use Stochastics and CCI and go several timeframes lower to maximize potential profits.Thank you for bringing this methiod up for discussion.I am sure there are others who will be able to contribute their experience here.How many pairs do you use this method on and how do you monitor them? Do you check every 4 hours and which platform are you using? I currently use several platforms for my demo and due to their time differences on the servers, there would be differences on the type of candles showing on them.Do you use window or audible alerts? I think I came across a 4pinbar alert in one of the threads. But I am not so sure if thayt really worked fine. I was wondering if someone got that PinBar Alert to work fine now.

Hi,

Yes I check every 4hours fort a pin bar, I am also looking for an alert that works well the one on FF misses alot of them.

As for taking the trade on the break of the pin bar, I have manually tested taking the trades on the break and taking the trades on the 50% fib on the 4H and the daily. Taking it on the fib level was far more profitable (not in pips but in account gain in %)

I would post the results but they are not with me.

-S-
  • #11
  • Apr 26, 2007 6:27am Apr 26, 2007 6:27am
What is a minimal size (from high to low) of the pin bar you take?
Also what other max-min parametres of the pin bar you SHOULD take for trade?
Size -
Distance between open and close -
Size of the down shadow -
Size of the up shadow -
Ratio down shadow to up shadow -
Etc -
Thank you!
  • #12
  • Jul 29, 2008 4:20pm Jul 29, 2008 4:20pm
Quoting yano125
HiI try to use this method too in conjunction with other systems I am currently testing.So far, this 4hour pinbar seems to be very promising and profitable. Looking back at history of some pairs, profits go by the hundreds of pips on this one.This is very good for swing traders. Instead of the 50% retracement of the pinbar as ENTRY, I use Stochastics and CCI and go several timeframes lower to maximize potential profits.Thank you for bringing this methiod up for discussion.I am sure there are others who will be able to contribute their experience here.How many pairs do you use this method on and how do you monitor them? Do you check every 4 hours and which platform are you using? I currently use several platforms for my demo and due to their time differences on the servers, there would be differences on the type of candles showing on them.Do you use window or audible alerts? I think I came across a 4pinbar alert in one of the threads. But I am not so sure if thayt really worked fine. I was wondering if someone got that PinBar Alert to work fine now.
I use 15 pairs to find the best pin bars on daily chart .
In my experience of trading the best entry point is 32.8 fib level retracement.
I mean one level higher than 50 fib level.
You will never miss any good trade by this entry point and also have a good risk/reward ratio.

There will be 4-5 opprtunities in a month ( Best Pin bars )
You have to be very patient if you wanna play pin bars .
I use Pin bar plus the other methods to trade on daily charts.
  • #13
  • Jul 29, 2008 4:48pm Jul 29, 2008 4:48pm
Quoting Dracula
I use 15 pairs to find the best pin bars on daily chart .
In my experience of trading the best entry point is 32.8 fib level retracement.
I mean one level higher than 50 fib level.
You will never miss any good trade by this entry point and also have a good risk/reward ratio.

There will be 4-5 opprtunities in a month ( Best Pin bars )
You have to be very patient if you wanna play pin bars .
I use Pin bar plus the other methods to trade on daily charts.
Dracula, this thread seems to be dead... last post more than 1 year ago.... Thread starter's last activity in september/07....
Many share my views with me. But I don't share them with them...
  • #14
  • Apr 17, 2012 12:36pm Apr 17, 2012 12:36pm
Hi All,

Want to share one experience which is right now going on on the http://barchart.com/quotes/futures/HGK12 chart kindly have a look at One day chart and you ppl will see A reaLLLY very nice pin bar in the bottom have alook

An where i can get more reading materials on the pin bar!!! I have really loved this method and it really works like magic...
  • #15
  • Apr 17, 2012 12:56pm Apr 17, 2012 12:56pm
Quoting vedantika
Hi All,

Want to share one experience which is right now going on on the http://barchart.com/quotes/futures/HGK12 chart kindly have a look at One day chart and you ppl will see A reaLLLY very nice pin bar in the bottom have alook

An where i can get more reading materials on the pin bar!!! I have really loved this method and it really works like magic...
james16 thread on the commercial.
Iam just A pips on the rode :nerd:
  • #16
  • Last Post: Apr 17, 2012 1:12pm Apr 17, 2012 1:12pm
Quoting vedantika
Hi All,

Want to share one experience which is right now going on on the http://barchart.com/quotes/futures/HGK12 chart kindly have a look at One day chart and you ppl will see A reaLLLY very nice pin bar in the bottom have alook

An where i can get more reading materials on the pin bar!!! I have really loved this method and it really works like magic...
I recommend the below thread extremely highly.

http://www.forexfactory.com/showthread.php?t=163972
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