I only had 3 trades this week: GBPCHF 4hr Pinbar which I consider to be an A+ trade, it formed at a swing high and was with the trend. Although price didn’t make it all the way down to my target of support, I did take nice profit from the trade.
I also entered the EURGBP 4hr pin bar which formed at the same time, I split the risk between the two and played this one much more tightly as I thought it would struggle. Perhaps not an A+ trade but it is a valid pinbar and formed at a good area
100% genuine, if you look elsewhere on this forum, you will find videos of me in the live trade and even entering some of them with very high lot sizes…
EDIT: I forgot to add GJ, but I did get STOPPED out of that trade…
Hi Mr B Ive just noticed something and that your charts are slightly different to mine ,Ive checked other peoples charts and they are the same as mine ie NYclose,are you using peperstone ? ,I’m on alpari and hot forex which Im sure are NY close,so I’m not sure what the story is (prob something I’m doing usually is )I’m sure ish im on the right one what do you think?I know you’ve been around as I have for quite some time so not sure why our charts difer slightly.
[QUOTE=“buster48;614368”] Hi Mr B Ive just noticed something and that your charts are slightly different to mine ,Ive checked other peoples charts and they are the same as mine ie NYclose,are you using peperstone ? ,I’m on alpari and hot forex which Im sure are NY close,so I’m not sure what the story is (prob something I’m doing usually is )I’m sure ish im on the right one what do you think?I know you’ve been around as I have for quite some time so not sure why our charts difer slightly.[/QUOTE] Hi Buster I usually use hot forex but they are currently behind clock wise, I’m using pepperstone at the moment until the clocks change. The charts I posted were pepperstone and as far as I know they are New York close. I hope this helps, roll on for the clocks to change back eh? No more early mornings
yes your charts have been right for months, but as I posted in here the other day; the charts changed timings about two weeks ago now on the 9th March and HotForex was one of the brokers that did not bother changing to stay in-line with NY close so they have been 1hr behind the true NY close brokers.
Pepperstone, Axitrader, Gomarkets etx all made the change when daylights savings changed and this meant the markets at the start of the week opened 1hr earlier than normal.
I am almost positive however that they will however come back into line with the correct NY close times when they daylight savings in Europe comes into affect at the end of the month on the 30th March because this happens every single year and it will happen again at the back end as well. Some brokers don’t bother staying in-line and each year and instead just wait for the timings to fall back in place and they then come back into line with NY close.
This is why it is important either to use a broker that continually changes their timings to stay inline or have multiple MT4’s you can compare and call on.
Three of four of these a month is all a trader needs to target and they will more then be on there way to building a serious account.
Nice trading and post Barracus. I did plan to come in here earlier tonight, but will have to come in tomorrow morning now as it is 2am, so will be back in the morning to discuss the markets for the week ahead.
[QUOTE=“Forex School Online;614476”] Great trading! Three of four of these a month is all a trader needs to target and they will more then be on there way to building a serious account. Nice trading and post Barracus. I did plan to come in here earlier tonight, but will have to come in tomorrow morning now as it is 2am, so will be back in the morning to discuss the markets for the week ahead. Johnathon[/QUOTE]
Thanks Johnathon, joining you guys over at FSO has been extremely helpful for me especially in regards to understanding better trade management which has been badly lacking from my trading until now. I have lots more learning to do but I now feel much more positive and because I risk less than I did, I also worry less which is a bonus. Thanks again for your help.
Well here i go again , going over some of the charts of the pairs i trade and plan out a strategy . Have a great week ahead for all you dedicated traders.
yes your charts have been right for months, but as I posted in here the other day; the charts changed timings about two weeks ago now on the 9th March and HotForex was one of the brokers that did not bother changing to stay in-line with NY close so they have been 1hr behind the true NY close brokers.
Yes I remember now you say Johnathon ,oh well got there in the end ,cheers
Trade management/money management is important IMO, and for your success as a trader also. If you are worrying about a trade, you are either risking too much, or the setup wasn’t the best. Gut feelings are usually always right I find.
these small inverted pins such as the one of the USDCHF are not pins you want to be trading and in fact in a lot of cases they are signals price is looking to go the other way. When you get inverted pins at extreme highs or lows they can be a sign price is looking to reverse the opposite way.
Notice how the USDCHF pin is not up at a high? The nose does not protrude past the previous candles? It does not stick out and away? I talked all about this in the last video I released on the false break about avoiding these trades.
It is the same again with the CADCHF. Regardless of where price goes or how this works out; this is not up at a high, it is not sticking out and away from all other price. Rather than being up at a high and activating a bunch of bears by rejecting a resistance and being up at a high, this is instead just in the middle and not really doing anything. if you continue to trade these candles that aren’t really anything and aren’t really telling us much it is going to make it really hard for you to make money because whilst you will have winners, there is no edge over the longer term.
Just to clarify this one here; there is no trend here. Price has been chopping and ranging now for literally over 12 months. Don’t try and gt to technical with this one or fall into the trap of thinking that every chart has to have a trend.
Looking at this chart from left to right tells us that this chart has been one of the most uncertain and choppy charts of the last year with no clear direction. There has no way we could make a trade in the last 12 months and say that there has been a clear trend in place to trade with.
Whilst this latest move has been a strong move higher, it is only just a move higher in what is a sideways trading range.
If you have any questions let me know, but also check the first page because there is a ton on trends.
Just on that last one on the Gold weekly chart; as far as I can see it is a valid BEEB as it fully engulfs the previous candle with a higher high and lower low. See chart below:
AUD/CHF D1 closing in on a promising level, where the last two touches from below at swing high have seen a strong rejection of the 0.814 area. Now all we need is some PA…
Mid-day it looked like a few promising Daily candles might be forming, but the close is what matters and all I ended up with is a whole lot of nothing!
