Apa shj ttg forex... anything about forex

Who is online?
In total there are 2 users online :: 0 Registered, 0 Hidden and 2 Guests

None

[ View the whole list ]


Most users ever online was 63 on Thu May 16, 2019 2:58 am
Top posters
Aqila (131)
Forex Trading System What happens when 1 pin fails to break? I_vote_lcapForex Trading System What happens when 1 pin fails to break? I_voting_barForex Trading System What happens when 1 pin fails to break? I_vote_rcap 
asiaforexmentor (36)
Forex Trading System What happens when 1 pin fails to break? I_vote_lcapForex Trading System What happens when 1 pin fails to break? I_voting_barForex Trading System What happens when 1 pin fails to break? I_vote_rcap 
sirz01 (21)
Forex Trading System What happens when 1 pin fails to break? I_vote_lcapForex Trading System What happens when 1 pin fails to break? I_voting_barForex Trading System What happens when 1 pin fails to break? I_vote_rcap 
KajolThappar (14)
Forex Trading System What happens when 1 pin fails to break? I_vote_lcapForex Trading System What happens when 1 pin fails to break? I_voting_barForex Trading System What happens when 1 pin fails to break? I_vote_rcap 
Admin (12)
Forex Trading System What happens when 1 pin fails to break? I_vote_lcapForex Trading System What happens when 1 pin fails to break? I_voting_barForex Trading System What happens when 1 pin fails to break? I_vote_rcap 
tavaNordFX (8)
Forex Trading System What happens when 1 pin fails to break? I_vote_lcapForex Trading System What happens when 1 pin fails to break? I_voting_barForex Trading System What happens when 1 pin fails to break? I_vote_rcap 
sandysr (8)
Forex Trading System What happens when 1 pin fails to break? I_vote_lcapForex Trading System What happens when 1 pin fails to break? I_voting_barForex Trading System What happens when 1 pin fails to break? I_vote_rcap 
ExpertGC (7)
Forex Trading System What happens when 1 pin fails to break? I_vote_lcapForex Trading System What happens when 1 pin fails to break? I_voting_barForex Trading System What happens when 1 pin fails to break? I_vote_rcap 
Matija Scalres (5)
Forex Trading System What happens when 1 pin fails to break? I_vote_lcapForex Trading System What happens when 1 pin fails to break? I_voting_barForex Trading System What happens when 1 pin fails to break? I_vote_rcap 
taie forex (3)
Forex Trading System What happens when 1 pin fails to break? I_vote_lcapForex Trading System What happens when 1 pin fails to break? I_voting_barForex Trading System What happens when 1 pin fails to break? I_vote_rcap 

July 2019
MonTueWedThuFriSatSun
1234567
891011121314
15161718192021
22232425262728
293031    

Calendar Calendar


You are not connected. Please login or register

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

Go down  Message [Page 1 of 1]

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

Forex Trading: Usd Chf pair
Forex Trading System What happens when 1 pin fails to break? Usdchf2pin

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

Back to top  Message [Page 1 of 1]

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