No problem. I agree, there is a lot of info out there and a lot of different opinions. Sometimes it is hard to filter out junk but if you put all the theories to practice, everything should come out in the wash in the end.
Nick,
Did you get an invite recently to a skype group? It is me and a few of my friends…we’d be interested in bringing you in if you’re interested…we offer each other commraderie, sharing of knowledge, etc…it’s fun. Anyway, if you are interested, let me know…you can PM me.
Hi Jim
Could I ask what M5 & M15 pinbars are?
Thankyou
NJ
Hey Ramah
You bet, count me in. I will PM you. I didnt actually notice the email invite as i never look in there but now i know to look in there too!
I look forward to it.
NJ :21:
Howdy Nick. Just shorthand for pin bars that develop on the 5-minute and 15-minute timeframe charts.
I have gone through the Nail Fuller PA course. I thought it was reasonable, though i don’t know if it is worth the cost to be honest. I think PA can definitely be a profitable system and I had some take a ways from it. But it was by no means a real eureka moment for me. I guess if your just feeling in the dark for a system then its as good a place to start as any. But I have attempted some of his techniques in my live account with reasonable success. I personally only use PA as a confirmation rather than a trading trigger or set up itself. But i hope you find a path that suits your personality, I am still finding and refining mine. Although i know that the core of my strategy fits my personality and is intuitive mentally for me. But this weekend made a MAJOR overhaul. Anyway those 3 core set ups that Nial talks about are effective, i would also look at a couple e other long standing threads here, like alternative technical templates, or Nikita’s pure price action for dummies. They are both quite good. though alternative technical templates is a bit more complex, which if you don’t know what 5M and 15M means you should probably look at Nikita’s first.
Cool…got it.
Thanks Jim
Hi Finalz
Thanks for the response
Yes i agree fully…ahhh…to be a ninja…even just for those funky 2 toed boots they wear!
Ok, so here is a question on pinbars. I am building the tool box of trading methods and individual items to apply to the varios situations that prevail…so…my question is:
What signals of confluence are there in total and which are the more common signals (if any)?
Here is what i have come up with so far:
1/ Support & resistance levels (is there evidence of the market being rejected on either)
2/ Can a trend line be drawn connecting higher highs or lower lows depending on long or short
3/ Is there either a crossover of the moving average or is there a parralel formation with the trend line signaling consistency
4/ Confirmation via other price action signals
5/ The price action signal itself (of course)
6/ Fibonacci retracement (i only know of it and that it can be a signal i dont yet know how it works)
7/ Two or more points of confluence that confirm the direction of the potential trade is “likely” to continue (going with the dominant trend)
8/ Taking into consideration the horizontal key lines that I draw in at the beggining of the week and look for confluence there also
Ok, so thats what i have come up with so far. They may not all be correct for this application however, as always i am open to correction and would love to hear of some more. This question is obviously open to everyone as are any of my replies.
BTW - best ninja of all time for me is Master Shifu from kung fu panda. Dry as they come on the humor side! A little like me.
Nick Jordan
Day 10/365
Earnings to date $0.00
Thanks again
Noted. I have found this glossary of FX terms however it does seem abit over the top…
Know of an 80/20 GOT’s, One that lists the most commonly used terms?
Thanks again M
NJ
Haha, yes, scoob is typically what people call me on here. As for price action not really (I’m not watching for candle stick patterns and such) but I mostly use forms of S/R such as fibs
Noted
Thanks again BM
Nick Jordan
Day 10/365
Earnings to date $0.00
Thanks jim
Hey Long and Short!
I just came across this thread you started 10 months ago. How are you coming along with your goals?
How’s the price action education coming along. Are you a pin-bar ninja yet?