Hello ; please can anyone help me who has experience in forex and have been profitable if i want to use support and resistance with pin bar reversals will i get stopped out alot?
And is this strategy that the big boys and the banks use? I know they use support and resistance but is it this strategy? And please whats the difference between normal support and resistance and keylevels and how do i draw them do i need to look for the big bounces or for multiple bounces or both? I really appreciate if someone can help me and if its someone with experience and already trading and is profitable thanks in advance✌
Trading isn’t an exact science.
In e.g. chemistry, if you have one substance in contact with another substance, the outcome is always the same. But trading is an activity, and price chart patterns are just guides to how you can do something - they are not finger-prints or cast-iron predictions or unique DNA identifications.
Even if you found 10 traders who make this approach work, that doesn’t mean you can make it work as well for you. The best way to find out is to test this yourself on a demo account. Then move up to trading tiny amount s of money until you know this strategy as well as you know your own living room.
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Yes, they use support/resistant levels for their trading; but they don’t trade based on any specific bar like pin bar, inside bar etc!
it depend on your trade management and stop loss size
“key levels” are levels of frequent rejections, swings low and high, the more repeated the more “key”
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I trade pin bar reversals at area of support and resistance, and have been doing nothing else for months, and it’s profitable and works for me. You can see what I do, here Simple easy to execute trading strategy
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How do you know, LauChoKun - have you worked on a trading floor?
Basically, I know many instructional Forex traders and I know their style of trading! They mainly focus on all over the market scenario rather than 1 or 2 specific patterns!
Even I know enough to understand that what you’re saying is completely wrong, LauChoKun. Honestly, I think you should stop saying it - it doesn’t help anyone to offer advice when you don’t really understand it yourself.
This really isn’t so at all.
So, you mean candle Patten is the key? I can show you more than thousands of patterns with no result!
I know exactly what I’m talking about; what’s the wrong here? Please clarify me.
People reading the forum, if that point interests them, will form their own impressions of it. (I have formed the exact opposite impression, myself, mostly not from this specific thread).
I am totally agreed with Tonmor that trading business is not any scientific work. You can’t apply any fixed formula to get any expected result. The result of same strategy can be different for different trade. It is an activity. Here the most important element of trading is fluctuating all the time. No one can predict this market certainly. You can follow the strategy or apply it as a reference or guide.
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the blind are leading the blind, here 
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