Do your homework, follow the footprints of smart money
- Joined Dec 2015 | Status: Member | 7,924 Posts
Do your homework, follow the footprints of smart money
Good places to start for trading knowledge 19 replies
Gap Trading Knowledge Resources? 3 replies
more knowledge more problems 25 replies
Disliked{quote} {image} I wouldn't trust too much this image actually. Let's take for example the first single "PINBAR". This is actually a very good signal, but I read it often quite opposite. If this RED candle is on the end of longer move up (let's say 5-10 candles) this is quite good signal (ca.70%) for reversal, especially if We are above some MA [10 - 20]. If the same RED candle (Yes, Red !) is on the end of longer move down, that this is very good signal (ca. 90% and up) for reversal. Best Regards!Ignored
DislikedHi SoreLoser1, Actually I use this signal very often, but among others. If I would have "full developed strategy" based on this kind of PINBAR I would share it with You with pleasure. But I don't, because generally I trade differently. I don't use strict strategies, but rather I trade intuitively, basing on signals and other analysis that I know and understand. To be more clear, let's take an example: This "Pinbar signal" is a good signal under conditions that I wrote in previous post. But for me such signal gives only information what to do, but...Ignored
Disliked{quote} Haha your right as a "analytical" person I just need a set of rules or a algorythmic logic to follow. Basicaly if I take into account what your saying we should have a high probability of a reversal or correction if a pinbar appears after a long move up or down, atleast X amount of candles. We add a stop loss and trail our profits with no fixed take profit and there we have a strategy. If I can create a EA I'll share it with you thanks MareckiIgnored
Disliked{quote} OK, so let's try to collect some conditions to explain computer how to deal with the trades. I would probably try to do it this way: 1. Check if this is proper pinbar: ( small body in relation to the longer wick, long wick down when move was up or long wick up when move was down body down when move was down or body up when move was up ) 2. Check if move was big enough (in time / in value / in both): (let's say minimum 6 of 7 consecutive candles are same direction or at least 2 candles same direction with really long body) 3. Open trades...Ignored
Disliked{quote} Yes, I have subscribed already! This is very much useful thread for me!Ignored
Disliked{quote} I will post some new content soon buddy. Ive been busy with a few projects and trading my secondary account. Thanks for supporting.Ignored
DislikedWell, nice idea! That’s the main advantage of using forums community! By the way, here for being a successful Forex trader, we have to ensure technical, fundamental even sentimental trading skill! Without knowledge success is impossible!Ignored
Disliked{quote} please don't take it personally , i never found at any successful trader from Forum communities.Ignored
Disliked{quote} How do you know? I mean, how to determine which trader is success or not?Ignored