Sign In
Email Address:
Password:
Forgot your password?
Sign Up
Home Features Social Network Performance page Traders Brokers Performances Forums

You are currently not signed in.

Please sign in or register.

Something that i have been for years in forex trading.

Page: 1 2 >
May 25, 2012 03:39 am
#1
asiaforexmentor User

Posts: 35
Member since: 16/03/2011

Forex trading strategies – Should we or should we not take this trade?

 

Today’s post is one of the forex trading questions that i got over the weekend which i thought would be helpful to share

 

 http://www.asiaforexmentor.com/coaching/q1.jpg 

Question:

I spotted a pin bar pointing down with the 150ema supporting the

cadjpy. The daily chart seem to be heading down but the weekly chart seem to be going

up. In these case, is it safe to sell as the day seems to be heading down

although the weekly still seems to be pointing up?

My Reply:

No, when i trade the daily forex chart, i will make sure the daily and the weekly are

in the same side of the trend.

Although its a price action pin bar off the 150, but the pin bar looks too small to

take away the strength of the uptrend. I may be wrong on this, but given the

small pin and the weekly uptrend. i will skip this trade.

 

Forex Trading Strategies – Here’s the recent Forex chart update on CadJpy

 http://www.asiaforexmentor.com/coaching/q11.gif 

 

Follow up:

True enough, the price action pin bar failed to take price down and its stoploss was triggered. Had we placed our stoploss at the top of the pin, we would have gotten stop out.

Take away Tip:

Pin bars happen & form all the time, it is by picking the right ones to trade in. There are several criterias which we use to call for a good trade and that is taught in our Winning Asia Forex Mentor Price Action Forex Course.

 

Ezekiel Chew

 

A complete professional forex trading system that even newbies can apply instantly. Asia Forex Mentor's forex course is now FREE!

May 25, 2012 09:11 am
#2
CFXsignals User

Posts: 359
Member since: 21/05/2012

In that case you would never really take a pin bar at a top of trend (as these are invariably when the weekly bar is up) - you are only taking pin bars in the direction of the trend?

May 27, 2012 12:33 am
#3
Champ User

Posts: 711
Member since: 17/05/2011

The thing is that before entring a trade, we should see calculate chances of success. This analysis will affect only traders with an average trading length of more than 1 day. A day trader can enter by carefully analysing pin bar behaviour in that day. By "carefully" means exiting from trade as soon as a reversal pin bar comes up.

http://www.fxstat.com/widget/link?t=tiny&c=1&s=24959&o1=growth&o2=drawdown&o3=profitfactor

May 27, 2012 09:55 am
#4
CFXsignals User

Posts: 359
Member since: 21/05/2012

So you are looking for a pin bar within a pin bar - usually I find pin bars in small timeframes not that useful for determining the direction of the trend or reversal.  Tends to be the pin bars against the main trend are false and price reverses against them quite quickly unless the market is in consolidation.

Jun 20, 2012 05:43 pm
#5
Jogi User

Posts: 685
Member since: 06/06/2011

I hardly understand this concept. Maybe some more screen shots with explanation can help me understand it.

http://www.fxstat.com/widget/link?t=wide&c=1&s=26883&o1=growth&o2=drawdown&o3=monthly&o4=equity

Jun 20, 2012 09:00 pm
#6
CFXsignals User

Posts: 359
Member since: 21/05/2012

Dunno - seemsto be a cut and paste from his website so who knows.

Jun 21, 2012 04:07 pm
#7
uniquetrader User

Posts: 939
Member since: 21/04/2011

Originally posted by CFXsignals

Dunno - seemsto be a cut and paste from his website so who knows.



Yes. These articles can be found on multiple forums. I think he should also participate in discussions so that he can answer to traders about questions arising from these articles. 

Stick to your rules

Jun 21, 2012 05:52 pm
#8
CFXsignals User

Posts: 359
Member since: 21/05/2012

Also it would be nice to his results - I only trust someone who states he can trade if actually has some verified results

Jun 22, 2012 08:58 am
#9
kashifrehman User

Posts: 66
Member since: 08/06/2012

please sher some of graphics of your strategy that make us more clear about your idea, It seems to be a good one but i did not see its practical demonestration any where or niether you post your results that you get while using this please cotinue you sharing we want to learn more.

Game is not over Till it's Over

Jun 29, 2012 05:41 pm
#10
uniquetrader User

Posts: 939
Member since: 21/04/2011

Originally posted by CFXsignals

Also it would be nice to his results - I only trust someone who states he can trade if actually has some verified results



Yea. Nice point. I would like to see trading history of AFM. I would like to see if his practical sckills are also as good as his theoritcal knowledge :)[aww]

Stick to your rules

Jun 30, 2012 12:08 pm
#11
CFXsignals User

Posts: 359
Member since: 21/05/2012

Originally posted by uniquetrader

 

Originally posted by CFXsignals

 

Also it would be nice to his results - I only trust someone who states he can trade if actually has some verified results

 



 

Yea. Nice point. I would like to see trading history of AFM. I would like to see if his practical sckills are also as good as his theoritcal knowledge :)<img alt=" />

 



 

Yep!  He could easily show it with a signature showing his % gain like a lot of people.  If he is such a good mentor, then surely he will have great results!  We should barrack every thread he starts with demands of showing his equity curve and drawdown!

Page: 1 2 >
 

Support

Platform

Legal

English فارسی საქართველო العربية Español Deutsch Français Português Italiano Türkçe 中文 اردو Русский
© 2024 FxStat Ltd. All Rights Reserved.

Risk Disclaimer

FxStat Ltd is authorised and regulated by the Financial Conduct Authority in the United Kingdom under FCA Firm Reference Number 537787. FxStat is a company registered in England and Wales under registered number: 07212997.

Trading foreign exchange ("Forex"), Commodity futures, options, CFDs and SpreadBetting on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange ("Forex"), Commodity futures, options, CFDs or SpreadBetting you should carefully consider your monetary objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your deposited funds and therefore you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange, Commodity futures, options, CFDs and SpreadBetting trading, and seek advice from an independent advisor if you have any doubts. Past returns are not indicative of future results.

Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. The broker/dealer and the referring broker will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

Any information, recommendation or promotion whether by email, newspaper or flyer, and not limited to any communication method that directly or indirectly links to any area of FxStat website must state that the promoter is not affiliated with FxStat and that any claims made are not endorsed by FxStat in any way.

​