That is my TP1. 4HR TF trade.
Decent, letās see what the Ny open brings.
Cheers
Did anyone take the GBPUSD D1?
*Edited about 30 minutes later after looking into this further. I donāt think this would be a good trade b/c of 2nd from the top Resistance line. Youād be trading with the trend yes, but, youād be trading right into a major point.
So because on daily chart the PB is not so obvious (if I compare it with previous candle ā¦ PB is small) you take the trade on 12 h where it looks better?
Still not see big different between PB on EURNZD 4H and AUDJPY 12H. If I compare them with previous candles ā¦ they look same ā¦ so are they āobvious enoughā to A+ trade?
What are your requirements to say: "yes this PB is large and obvious enough I can trade it"
Thanks
bambi
OK! Iām not saving detailed info from Result Tab (donāt see a benefit in this), but Iām writing general results on paper, for future evaluation. Every trade had strictly 1:1 R:R (I gave up on attempts to master this fancy 1:4 stuff). So, first 4 month of 2012:
EUR/USD 1 win
GPB/USD 0 trades
USD/CHF 2 wins
USD/JPY 1 win
USD/CAD 2 wins, 1 lose
AUD/USD 1 win
EUR/GBP 1 win, 1 didnāt hit TP/SL
EUR/AUD 0 trades
Iām planning to practice this way every day with ultimate goal to test every pair I plan to trade on live on all the time in terminal. And I also plan to continue this backtests after I begin trading live, because it seems to be an excellent exercise, and an answer to question, that troubled me since I began to learn Forex: how can I gain a lot of statistics and personal experience, making 3-4 trades in a month at best? But this backtesting is essentially a time machine:59:
PS There was also a trade I missed, because just got distracted, and didnāt hit pause to place an order, of course in live Iād have a whole day to notice it lol
Hi Bambino,
Here is what I saw,
Aud/Jpy rejected the 86.40 level( previously 2 bar reversal) with a pinbar(meeting all criteria).
However I saw a pinbar on the 12H before the Daily candle closed and placed my buy stop on top of that.
There is no use to compare pinbars with each other, what you are looking for in a decent pinbar is that it should stand out from the high or low it is now,does that make sense?
About Eur/Nzd, even though price is at a resistance, there was no decent pinbar formed(wick wasnt 3x the body,lower wick somewhat long too). However playing the trade would have put you on a 100 pip profit so far,but simply wasnāt a A+ setup.
Cheers
GBPCAD: The candle you see on the D1- I call that a āJesus Candleā b/c it looks like a cross. That is not a PB to me. I took the trade of the 4hr chart, because it is SO obvious when I flicked over to that pair, it was the first thing that caught my eye. I then checked out S/R, the trend, and decided to set my pending order.
EURNZD: The tail on the 4HR seems too small. You probably could have taken the trade and made some money, but Iām learning that Iād rather āTake the trade and make some moneyā, than, āTake the trade and probably make some moneyā.
I donāt use 12hr charts so I canāt comment on that.
Hope this helps. Please take this with a grain of salt though, as I am not a PA expert by any definition of the term. Iām here to learn, but also try and help because we all can learn and make some money by helping one another out.
Distracted?Yeah itās difficult backtesting and playing call of duty at the same time,lol (just kiddinig)
These are some great results, I was looking forward to see some dates posted, could you for example post;
Eur/Usd 01.05.2013 winner ā¦etc.
Cheers
I didnāt, because my support was a bit lower, so I saw this PB as hanging in the air
2 things bother me about this positions:
1- the previous bearish candle is very bigger then the pinbar .
2- pinbarās body is exactly at the middle of it .
for me itās a indecision candle and not a good setup . Should I consider these ?
Thanks
Iām on this with bigcheefer, we all try to go for the obvious trades,share and compare ideas and donāt be bothered if some trades end up getting stopped the idea is the long run,after all we all know we done our homework.
Cheers
When you close tested chart you no longer have an access to your info, but thatās not a problem, Iāll add this detail in next backtesting session:) Iām planning to do it every day, so Iāll post next result with dates and type of setup! Iām doing 2-4 pair on 4 month in a session, moving in mt4 list of pairs from top to bottom. ā¦I wouldnāt dare to lunch CoD, kids with mp7 always pound my pride into dust:p
Lolā¦I know they are sweating it out.
Cheers
Hallo,
I would like to, but it would be unfair to FSO members if I discussed trade management details.
But lemme just say Iām aiming for recent highs and next logical S/R zones/(V)BRNs; entry as always a few pips above pin high.
Great thing is that others here are free to discuss trade specifics ( as has been the case ), and between the discussions, there is great help ( remember thereās no right or wrong, just profit ).
Hope thatās helpful 
Cheers!
As of last night when I posted this there was strength in the pair and it wasnāt able to form any sort of bearish price action. I woke up this morning and on the H8 it looks like there may be a 2BR forming, but itās still too early to tell. So itās not out of my sites just yet.
Hey Sergei!
If I may ask: why the fixed risk:reward ratios? [ 1:1, 1:4 ]
.
Hi Dudest,
In other words everyone on FSO is on this trade?
Not meant to be cheekyā¦
Cheers
I just measure SL, then check if there enough space to TP of same length. If not (TP < SL), then I pass. If there is enough space - I place 1:1 trade. I never set bigger TP, because I really (reeeaaalllyyy!) like TP to be hit as often as possible, and it seems to me that widening TP is decreasing the chance of success. So, I donāt practice custom TP, b/c of frightening thought that price will reverse before hitting the targetā¦
The goal is a primitive scenario: wins > 50 % with fixed 1:1 and thatās all. PA gives the impression of a strategy that can give this āmore than 50 percentsā winning rate, so Iām just continuing to implement this R:R model without other reasons! Hope I managed to formulate it clearly:)
Hallo Sergei013!
I use the same LFH indi to back test this method & Iām doing it everyday. Itās pretty cool, I donāt like that you canāt change timeframes once you start though, thatās a real bummer! but what can you do?
Letās work!
I definitely agree with both of you. That is reason why I am on this forum. I am happy that there are people how answer to questions and be sure that I try to take something from all answers and all posts. I never trade price action before so I am sure that my posted trades probably arenāt good and I am glad that you tell me what is wrong and what is right. So thank you
If i become a millionaire I bought ice cream to all of you ā¦ of course big ice cream 
cheers
Bambi