Pin bars
May 03, 2014 at 22:11
526 Views
4 Replies
forex_trader_102328
Member Since Dec 10, 2012
30 posts
May 03, 2014 at 22:11
Is anybody trading pin bars successfully? I know there are too many false pin bars to successfully code an EA (unless it has many filters). Has anyone had any good experience with this?
Member Since Nov 21, 2011
1718 posts
May 04, 2014 at 18:36
Pin bar EA must be really good. It only depends when and where do you enter? Please provide a picture.
forex_trader_102328
Member Since Dec 10, 2012
30 posts
May 04, 2014 at 20:05
I agree, a pin bar must be really good to be profitable. I have not seen an ea that can filter out the false pin bars and have accurate entry/exit levels. There are profitable manual systems out there involving pin bars. There are lots of price action threads where they are discussed in detail.
A lot of successful traders out there use pure PA, and most of them trade manually. Finding a profitable EA that uses PA in its logic is rare (finding any profitable EA for that matter)
It is almost impossible to trade manually when you have a job and family life after work, there is no trading over weekends - which only leaves odd hours at night/morning.
Unfortunately I have no pictures to upload, but I will upload pdfs on pin bars, if anyone needs reading material.
A lot of successful traders out there use pure PA, and most of them trade manually. Finding a profitable EA that uses PA in its logic is rare (finding any profitable EA for that matter)
It is almost impossible to trade manually when you have a job and family life after work, there is no trading over weekends - which only leaves odd hours at night/morning.
Unfortunately I have no pictures to upload, but I will upload pdfs on pin bars, if anyone needs reading material.
Member Since Nov 21, 2011
1718 posts
May 04, 2014 at 21:47
They try too many free style on advanced settings. No need to be aggressive. When a Pin bar works, the risk reward is awesome and will cover the losses.
Live example on AUDUSD Daiy.
Setting for Long entry: @ 0.9255
SL Below the tail <= 0.9195
TP >= Last high 0.9460
This is the most effective and simple way to trade Pin Bar Price Action.
Live example on AUDUSD Daiy.
Setting for Long entry: @ 0.9255
SL Below the tail <= 0.9195
TP >= Last high 0.9460
This is the most effective and simple way to trade Pin Bar Price Action.
Member Since Nov 21, 2011
1718 posts
May 05, 2014 at 07:20
Long triggered: Lowest @ 0.9250 (5 pips from entry)
What else?
What else?
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