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Rihan
Rihan
May 03 2014 at 22:11
30 โพสต์
Is anybody trading pin bars successfully? I know there are too many false pin bars to successfully code an EA (unless it has many filters). Has anyone had any good experience with this?
CrazyTraderfx (CrazyTrader)
May 04 2014 at 18:36
1718 โพสต์
Pin bar EA must be really good. It only depends when and where do you enter? Please provide a picture.
Rihan
Rihan
May 04 2014 at 20:05
30 โพสต์
I agree, a pin bar must be really good to be profitable. I have not seen an ea that can filter out the false pin bars and have accurate entry/exit levels. There are profitable manual systems out there involving pin bars. There are lots of price action threads where they are discussed in detail.

A lot of successful traders out there use pure PA, and most of them trade manually. Finding a profitable EA that uses PA in its logic is rare (finding any profitable EA for that matter)

It is almost impossible to trade manually when you have a job and family life after work, there is no trading over weekends - which only leaves odd hours at night/morning.

Unfortunately I have no pictures to upload, but I will upload pdfs on pin bars, if anyone needs reading material.
CrazyTraderfx (CrazyTrader)
May 04 2014 at 21:47
1718 โพสต์
They try too many free style on advanced settings. No need to be aggressive. When a Pin bar works, the risk reward is awesome and will cover the losses.

Live example on AUDUSD Daiy.

Setting for Long entry: @ 0.9255
SL Below the tail <= 0.9195
TP >= Last high 0.9460

This is the most effective and simple way to trade Pin Bar Price Action.
CrazyTraderfx (CrazyTrader)
May 05 2014 at 07:20
1718 โพสต์
Long triggered: Lowest @ 0.9250 (5 pips from entry)
What else?
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