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Pin bars and more...

  • #1
  • First Post: Jan 17, 2009 2:21pm Jan 17, 2009 2:21pm
Im getting into forex and Im currently looking for trading scenarios that fit my conservative approach, and in that regard Im looking at pin bars(there are some great articles here on FF)- My goal is to specialize in a few setups and master them properly.

How many tradeable pin bars are usually to be found in a pair in a month on 4h and daily? By tradeable I mean pretty conservative setups?

Thanks for your time!
  • #2
  • Jan 17, 2009 10:48pm Jan 17, 2009 10:48pm
How many angels can dance on the head of a pin?
  • #3
  • Jan 17, 2009 10:58pm Jan 17, 2009 10:58pm
Quoting opie999
How many angels can dance on the head of a pin?
Nowadays only four angels can dance there. Formerly there was no limit, but OSHA passed the Angel Safety Law recently, which also requires that the pin must be inspected twice each year for structural defects.

source:
http://www.answerbag.com/q_view/35011
  • #4
  • Jan 17, 2009 11:08pm Jan 17, 2009 11:08pm
Good job, thatwasme. Isn't there a provision in the OSHA regs that exempt unionized angels?
  • #5
  • Jan 18, 2009 4:29am Jan 18, 2009 4:29am
Thanks for your help guys, it's much appreciated!! I will exercise the same relevant contribution on your future threads, count on it!
  • #6
  • Jan 18, 2009 8:42am Jan 18, 2009 8:42am
Quoting Jonah1
Im getting into forex and Im currently looking for trading scenarios that fit my conservative approach, and in that regard Im looking at pin bars(there are some great articles here on FF)- My goal is to specialize in a few setups and master them properly.

How many tradeable pin bars are usually to be found in a pair in a month on 4h and daily? By tradeable I mean pretty conservative setups?

Thanks for your time!
I am not a pin expert, but I have studied them. You mention "a pair". Generally speaking, to get enough setups in a month, you should watch all the majors, one pair alone will not suffice. Also, if you're truly conservative then you'll focus exclusively on the daily charts. The longer the timeframe, the more reliable they are and H4 charts will give you more false signals than D1.
  • #7
  • Jan 18, 2009 8:47am Jan 18, 2009 8:47am
Quoting Jonah1
Thanks for your help guys, it's much appreciated!! I will exercise the same relevant contribution on your future threads, count on it!
Sorry about that. Just a little humor. Oh well. On PBs, would you really trust the opinion of someone's research, not your own, when it is your money on the line? I would not.

It is not that hard to go back one year on each of the majors over a weekend and find out.

So you see the Angel statement is absolutely relevant. The answer of course is either somewhere between zero and infinite. I mean after all it's your money.
  • #8
  • Jan 18, 2009 9:46am Jan 18, 2009 9:46am
Thanks LongToBeFree for your feedback. Its much appreciated.

Att: thatwasme - I might have overreacted abit, but keep in mind that this a the rookie section, and there is bound to be so-called stupid questions asked in this section, so, when you guys used my thread to poke fun and not contribute with anything useful, that's usually considered trolling in most forums -- anyhow, we're all adult here. No harm done.

And yes I will do my own research, next month Im subscribing to james16group.us - right now Im just trying to learn everything I can about forex, price action etc, and Im trying to figure out doing backtests on metatrader.
  • #9
  • Edited 10:36am Jan 18, 2009 9:58am | Edited 10:36am
Quoting Jonah1
Thanks LongToBeFree for your feedback. Its much appreciated.

Att: thatwasme - I might have overreacted abit, but keep in mind that this a the rookie section, and there is bound to be so-called stupid questions asked in this section, so, when you guys used my thread to poke fun and not contribute with anything useful, that's usually considered trolling in most forums -- anyhow, we're all adult here. No harm done.

And yes I will do my own research, next month Im subscribing to james16group.us - right now Im just trying to learn everything I can...
I mean no disrespect, however, perhaps you are not clear on the mathematical implications of the Angels on the point of a pin statement. Circa 1678

The James 16 forum is an excellent choice. You will find the answer to all of this there. Also, have you looked at the j16 thread here?

An interesting mathematical quantum gravity approach here to the Angels on the point of a needle.
  • #10
  • Jan 18, 2009 10:06am Jan 18, 2009 10:06am
Quoting thatwasme
I mean no disrespect, however, perhaps you are not clear on the mathematical implications of the Angels on the point of a pin statement. Circa 1639

The James 16 forum is an excellent choice. You will find the answer to all of this there. Also, have you looked at the j16 thread here?
Yeah, I have heard only good things about the private group, and Im slowly working my way through the j16 thread, pure gold!
  • #11
  • Jan 18, 2009 11:42am Jan 18, 2009 11:42am
I didn't mean to poke fun Jonah, but as thatwasme explained, my "angels on a pin" reply was entirely relevant and intended to provoke thought.

I also agree that you can't go wrong with the J16 thread.

The "No Brainer" thread by BRV is also excellent as is Jacko's "Pleasure and Pain".
  • #12
  • Last Post: Jan 18, 2009 12:19pm Jan 18, 2009 12:19pm
Quoting opie999
I didn't mean to poke fun Jonah, but as thatwasme explained, my "angels on a pin" reply was entirely relevant and intended to provoke thought.

I also agree that you can't go wrong with the J16 thread.

The "No Brainer" thread by BRV is also excellent as is Jacko's "Pleasure and Pain".

No harm done, it's partly my ignorance about pinbars that made me think you poked fun or whatever, I now see what you say, but being a rookie it just came across as being nonsense, hehe

I actually read nobrainertrades and found it very useful, it really makes sense to me and I have decided to implement his thoughts along with james16. In the two months I have been reading about forex I have found support/resistance and price action to be the areas I want to focus on. I think that will excel my undertanding and keep me out of holy grails. I want to focus on a few set-ups and master them and not let greed shorten my learning curve.

Thanks again guys and see you around!
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