Apa shj ttg forex... anything about forex

Who is online?
In total there is 1 user online :: 0 Registered, 0 Hidden and 1 Guest

None

[ View the whole list ]


Most users ever online was 40 on Sun Oct 27, 2013 11:32 pm

Latest topics

» Kelas Forex " Teknik 100 PIPS Sehari ! " & SIGNAL PERCUMA !
by Aqila Wed Nov 08, 2017 7:09 am

» Suggerimenti di sicurezza per i trader principianti durante il trading
by sandysr Fri Nov 03, 2017 8:18 pm

» Kursus Saham Bursa Malaysia & WallStreet (CFD) - RM69!
by Aqila Wed Nov 01, 2017 12:20 pm

» abcd abcd abcd abcd abcd abcd
by sandysr Fri Oct 13, 2017 5:33 pm

» Always avoid emotional trade in Forex
by sandysr Wed Sep 20, 2017 7:39 pm

» dds sf
by sandysr Tue Sep 19, 2017 4:47 pm

» How to trade?
by sandysr Mon May 22, 2017 9:52 pm

» A clear overview of the most traded candlestick pattern in the forex market
by sandysr Fri Apr 28, 2017 8:21 pm

» Top 3 Things to Consider While Choosing the Right Broker
by sandysr Mon Apr 03, 2017 3:14 pm

» Forex Trading, Currency Pair and Leverage
by sandysr Tue Mar 28, 2017 3:35 pm

» Life changing course to make massive income!
by Michaeljordan Wed Oct 14, 2015 5:36 pm

» 100% deposit bonus from FXVAN
by Mariatrader Tue Sep 09, 2014 9:04 pm

» FXVan - reliable brokerage company
by FXVan Tue Jul 22, 2014 9:49 pm

» FreshForex-www.freshforex.com
by FreshForex Thu Jun 12, 2014 8:04 am

» Grand Capital-grandcapital.net/eng
by ExpertGC Fri Oct 18, 2013 7:40 am

Top posters
Aqila (106)
 
asiaforexmentor (36)
 
sirz01 (21)
 
KajolThappar (14)
 
Admin (12)
 
tavaNordFX (8)
 
sandysr (8)
 
ExpertGC (7)
 
Matija Scalres (5)
 
taie forex (3)
 

November 2017
MonTueWedThuFriSatSun
  12345
6789101112
13141516171819
20212223242526
27282930   

Calendar Calendar


You are not connected. Please login or register

Forex Trading System What happens when 1 pin fails to break?

View previous topic View next topic Go down  Message [Page 1 of 1]

Forex Trading System What happens when 1 pin fails to break?

Forex Trading: Usd Chf pair


In the chart above shows 2 highlighted pin bars.
If a trader took the first price action pin bar (marked as 1) and placed his stop loss right at the bottom of the pin -
He would get stopped out and would have possibly missed the winning move upwards.
How can we improve this?
- This is the reason why i always recommend traders to place their stoploss 10 pips below the edge of the pin. By doing so you would still be in the trade and not get stopped out by the next bar.
- If you did get stopped out by the next bar. You would have gotten back your pips in this trade as the next bar formed another pin bar (marked as 2). This forms a double pin bar. A setup that shows that price is indeed going up.
Therefore you would still get back into the trade on this pin bar and took it right up.
Alot of traders when got stopped out by at the first pin would not have taken the 2nd pin due to the fact that they had made a loss in this pair, and they “feel” that this pair is no longer reliable. And they “feel” that since the first pin has been stopped out, the trend is no longer heading the direction they wanted.
This is a common syndrome by most traders – Dwelling on the PAST Trades
Remember – every trade you take is a new trade. And is a fresh beginning.
Forget what happened on the last trade, regardless of whether that is a winning or losing trade.
Focus on seeing what is right in the new trade. And not let PAST perceptions affect your judgement.
Therefore in this trade, had you not dwelled on the first pin that had been stopped out.
You would have seen that it formed a double pin bar! And this double pin bar is in the right upward trend movement.
You would have taken this trade without hesitation.

Ezekiel Chew
Asia's #1 Forex Mentor

View user profile

View previous topic View next topic Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum