tonyro44
September 20, 2013, 9:31am
13030
What works for me when i trade J’s method is, when i get the A + 1 set up and i take the trade, if it goes against me but does not hit my S/L and reverse, then i layer the trade. So is cost average in a positive way, it lets me make more pips.
dudest:
Hallo again,
Just to allay some concerns I picked up while catching up on the thread.
Johnathon’s PA method is simple, and uncomplicated ( not to be confused with “easy” or “trivial” ). The rules that Mr J has put up on what makes up a VALID + OBVIOUS pinbar/EB/2BR are straightforward, and do not change/bend with what the market is throwing at us ( gaps, “FOMC”, etc )
If you practice this way of thinking for a few months exclusively, you will get it pretty fast, I assure you.
But that means emptying the cup and chucking pre-conceived ideas (indis, trendlines, cluttered charts, R:R in isolation, mixing methods) out tha window!
If you must, have two demo accounts. In one, continue trading as you always have. In another, do exactly what Johnathon says, exclusively. Then after 3 months, see which one is out in front, and which one gave you the least stress. I won’t be surprised that that latter will be the one you enjoyed trading.
Lastly, trading from D1 (esp only D1 when learning the method) does not equal missing out on setups.
Trading from D1 has a lovely side effect of developing a fresh mental state that generates success time after time. Waiting for setups stops being a problem, because when they come in waves, you cleanup like nobody’s business!, then retreat into the shadows and wait for the market to make it’s next ‘mistake’
Once again, great work all!, happy to be back among this good bunch
Cheers
tonyro44:
What works for me when i trade J’s method is, when i get the A + 1 set up and i take the trade, if it goes against me but does not hit my S/L and reverse, then i layer the trade. So is cost average in a positive way, it lets me make more pips.
Care to explain this a bit more / provide an example? You’re saying that if price reverses deep enough on a position you have open (close to your stop), you actually open another position at the lower/higher price to secure more profit? What if you open, then your stop gets hit? Aren’t you essentially adding more risk into the position than initially was planned for? Just trying to see things from your perspective, b/c this is interesting…
So, in essence you’re probably opening small positions just to attempt to offset the reversal…This is intriguing. I have a few open positions right now, implemented this, and was already able to make some money. This seems dangerous though …
Pandex
September 20, 2013, 9:36am
13032
True, i’m pretty new to this while i’m reading through the posts i’m watching my charts for signals to trade. I consider this as thinking out loud, i know it’s recommended to not trade against the trend for the newer traders, i’m not taking this trade just looking for opinions on it.
Thanks for your point of view.
tonyro44:
What works for me when i trade J’s method is, when i get the A + 1 set up and i take the trade, if it goes against me but does not hit my S/L and reverse, then i layer the trade. So is cost average in a positive way, it lets me make more pips.
I’m sorry man, but I need to post one more thing: this strategy just absolutely blew my mind. Thanks for sharing. wow.
dudest
September 20, 2013, 10:05am
13034
Pandex:
BEEB has formed on the 4h gbp/cad, at swing high - round number
daily chart:
BEEB formed 4h chart, good entry point?
cons:
What you guys think?
Axi is showing a super huge pin (!) on both H4 and D1(not closed).
I have counter-checked with RoboForex and the same is not there.
Have contacted them, and they say they think it’s a glitch with one of their liquidity providers, and they will confirm conclusively on Monday.
.
Sounds good tonyro ! Johnathon, can we have your opinion on it? Ever tried?
dudest:
Axi is showing a super huge pin (!) on both H4 and D1(not closed).
I have counter-checked with RoboForex and the same is not there.
Have contacted them, and they say they think it’s a glitch with one of their liquidity providers, and they will confirm conclusively on Monday.
.
AxiUSA chart looks ok in MT4.
fazliy
September 20, 2013, 11:08am
13037
dudest:
Axi is showing a super huge pin (!) on both H4 and D1(not closed).
I have counter-checked with RoboForex and the same is not there.
Have contacted them, and they say they think it’s a glitch with one of their liquidity providers, and they will confirm conclusively on Monday.
.
IMHO, for a newbie like me… just follow the trend
fazliy
September 20, 2013, 11:14am
13038
anyone can explain to me a little bit about managing a trade? still blur about it…:eek:
wm247
September 20, 2013, 11:19am
13039
Hi dudest,
we also encounter the same problem with Pepper, but not FXDD. Johnathon himself is investigating this issue now with fellow traders at FSO. Seems like this issue is not universal, not everyone got this problem. Anybody here has the same problem? Especially GBPCAD D1/H4 tf?
dudest:
Axi is showing a super huge pin (!) on both H4 and D1(not closed).
I have counter-checked with RoboForex and the same is not there.
Have contacted them, and they say they think it’s a glitch with one of their liquidity providers, and they will confirm conclusively on Monday.
.
shane
September 20, 2013, 11:22am
13040
Anyone here getting into gbp/aud d1 pin bar trade?
Matthgm
September 20, 2013, 11:23am
13041
[QUOTE=“Kasravi;536766”]
Did Matt not post this yesterday?[/QUOTE]
FTA hit, profit taken, moved stop to BE
bigcheefer30:
-Blue dashed line is 1.7
-1.7 is indeed a key psychological level. But, here’s how I see this. I feel 1.68779 is more significant than 1.7. This zone (lower horizontal line) was tested multiple times b/w Jun-Aug and more recently in Sep (gray shadows) and held almost perfectly. This, to me, illustrates a key flip zone (or, the “kill zone”).
-The 1.7 level has only recently been tested (only looking back to May). And, what I see is price popping up and down through it. Price rotated around 1.7 7 times (with the 7th being the most recent PB). That is a signal to me that there really isn’t much of a solid identity for that level (in other words, we don’t know if it’s Support or Resistance yet).
With that said, I feel this reversal off the previously held 1.68779 level (2 BR 9/10-9/11 & previous resistance) is a solid setup. Ideally, it would have been nice to see that pin close above 1.7, but, I truly don’t feel that in the overall scheme of things, price is going to have any trouble staying above. The 2 candles following the high candle (of the most recent swing) are pretty telling to me. Price was trying to break down, and that 1.68779 - 1.7 zone held firm.
I am. Already have taken some profit.
ivan7342
September 20, 2013, 11:29am
13043
I´m in the gbp/aud d1 pin bar trade on demo
Same here
adamjn
September 20, 2013, 12:08pm
13045
[QUOTE=“dudest;536873”]
Axi is showing a super huge pin (!) on both H4 and D1(not closed).
I have counter-checked with RoboForex and the same is not there.
Have contacted them, and they say they think it’s a glitch with one of their liquidity providers, and they will confirm conclusively on Monday.
.[/QUOTE]
I got the same problem on axi, checked my go markets chart and its not present…
chisha
September 20, 2013, 12:18pm
13046
Hi Guys,
Anyway I was concerned with the recent up move but noticed that price had rallied twice from the same lows & this level has held on both occasions. The preceding bar was quite large but closed below resistance & I also took note of the VBRN of 96.000.
I set my pending orders before going to bed and I got filled.
Did anyone else take this trade? For those that saw this setup and decided not to take it care to share your thoughts?
mselva
September 20, 2013, 1:18pm
13047
Thank you Kas and congratulation, it was indeed a good trade.
Kasravi:
Hi Mselva,
I am glad you ask (Usd/Chf short),
But to answer your question, I took the trade based on the massive 2BR. Very convincing,in my opinion it was big enough to drive the pair all the way down to 0.9200.(which just happened)
Then as you can see things didn’t go that well. Once that bearish candle came up (which was actually a BEEB) I totally regained confidence in that trade. You know the outcome.
I am looking to go short again on a pullback exactly at that area that you are pointing out. But as you say if that level doesn’t get revisited we need to look for continuation setups, which I understand is an advanced subject in Johnathons teachings. (you gotta be a member to find out more about that)
Hope that helped
Cheers.
Hi guys,
i have a question or am looking for advice.
example, GBP/AUD that is being discussed. at this point, the price still has room for profit… if i have missed the entry, would it be ok to just jump in? or once is missed, let it go.
chisha:
Hi Guys,
Anyway I was concerned with the recent up move but noticed that price had rallied twice from the same lows & this level has held on both occasions. The preceding bar was quite large but closed below resistance & I also took note of the VBRN of 96.000.
I set my pending orders before going to bed and I got filled.
Did anyone else take this trade? For those that saw this setup and decided not to take it care to share your thoughts?
I saw it but i chickened because it was counter trend
