₦airaland Forum

Trust you had a restful weekend, taking out time from your normal busy schedule to reflect and plan the next move is very strategic and beneficial.

Tip for the week... avoid trading impulses, always wait for pullback and like i always say, patience is key.

Always use appropriate lot size , when you start becoming overconfident , then thats a red flag. Money management is the most important part of trading, if you loose your capital, then its game over. Dont risk more than 2% of your capital per time. some do 10%, while some do 3%, yet some do 50%. But if you are following my lessons, then i advise you not to trade more than 2% per time.

Rickrux0:
Hi Pinbar. I just wanted to be sure i am doing this right. In the attached charts, the arrows indicate what I judge to be valid entries. Is this correct? If not, kindly help me out. Plus, I'm curious how you place your stops and targets. For now, I place SL just below the low(for long trades) and set TP as 2SL or higher, and trail it.

First of , my apologies for responding late. I noticed you were trying to connect two swing points, yes that is the normal conventional way, but this method is far from it. As against connecting two points, you hinge one point which remains permanent and you draw the other end to the last swing point. For stops and targets, there is no one way to it, your method is ok

EA update

Alert

Sell EU @ 1.2328

SL 1.2357
TP 1.2210

Rickrux0:
Awesome job bro...I've been quietly following your posts and I have joined ur telegram group. taken three trades off your strategy ... two in profit...one dancing around entry. All in all, appreciate ur contribution.

These are the kind of comments that makes it all worth it thank you. Make sure you master it and be a fisher of pips

Alert

Buy EJ @ 132.23

SL 131.61

Break even @ 40pips and forget the trade for next 2 weeks

check my channel for updates

wait another day for this nucca , if price drives back to trend line, ignore else pull the sell trigger and jump . Make sure you are wearing a parachute though

prettyboey:
@Pinbar, please I am waiting for your next write-ups ooo

current USDCHF trade. Will do some write up over the weekend

pinbar:
Alert

Sell ECAD @ 1.5576

SL 1.5656
TP open

Buy Gold @ 1344.20

SL 1337.98
TP 1354.11

Apply sound money management, nothing is guaranteed

These trades went well

Buy usdchf @ 0.9589

SL 0.9589


Buy AJ @ 82.87

SL 82.53
TP open

Trade safe. updates on my channel

Alert

Sell ECAD @ 1.5576

SL 1.5656
TP open

Buy Gold @ 1344.20

SL 1337.98
TP 1354.11

Apply sound money management, nothing is guaranteed

PIPnator:
UJ..

So price finally breaks out of the trendline and heading to 38.2 fibonacci..
My hope is, price overshoot the 38.2 fibonacci to 50 fibonacci level.
If it hits straight to 50 fibo level, price is likely to retrace back 38.2 fibo (the area i marked X in yellow).
If it plays out like that, then I will be adding more buy positions.
The UJ has a big potential to the up side because of the obvious head and shoulder pattern.

Keep up the good work PIPnator !

pinbar:
Alert


Buy EJ @ 131.50

sl 130.89
tp open

Buy CADJPY @ 84.10

SL 83.82
TP open

Buy AU @ 0.7710

SL 0.7643
TP open

Buy AUDJPY @ 82.40

SL 81.83
TP 84.39

Check my telegram channel for updates on this trades. They were based on our strategy

Always use appropriate lot size as per account size, NOTHING IS GUARANTEED

ALL trades move to breakeven

pinbar:
Alert


Buy EJ @ 131.50

sl 130.89
tp open

Buy CADJPY @ 84.10

SL 83.82
TP open

Buy AU @ 0.7710

SL 0.7643
TP open

Buy AUDJPY @ 82.40

SL 81.83
TP 84.39

Check my telegram channel for updates on this trades. They were based on our strategy

Always use appropriate lot size as per account size, NOTHING IS GUARANTEED

Please and please, you will notice dropping quite a number of alerts per time is very unlike me, THIS IS SOLELY FOR EDUCATIONAL PURPOSES . I simply used the strategy i had thought you to pick this setups . it will be very irresponsible to trade all the alerts on a small account. Money management should be your number one priority in this business, why ? if a trade goes bad and you had applied sound money management , you wont even feel it and you will be ready to take the next setup. But if you threw all caution to the wind and use crazy lot size, then you should be ready to move back to the village and start farming , just kidding. Just be careful guys

Alert


Buy EJ @ 131.50

sl 130.89
tp open

Buy CADJPY @ 84.10

SL 83.82
TP open

Buy AU @ 0.7710

SL 0.7643
TP open

Buy AUDJPY @ 82.40

SL 81.83
TP 84.39

Check my telegram channel for updates on this trades. They were based on our strategy

Always use appropriate lot size as per account size, NOTHING IS GUARANTEED

pinbar:
The strategy gives a sell trade alert for this pair(GBPCAD)

This pair seems to be ready to play along our strategy...

The UJ trade is also picking up .

This two trades are based on the strategy

Distractions bow to the power of focus . Challenges are very temporal, hold on to that which you believe so dearly, things will work out.

Great week ahead

Jlovin:
Let me know how I do @pinbar

you seem hungry for knowledge, follow my channel on my signature, so you dont miss out on any thought i post either here or on the channel. For avoidance of doubt, it is free. Freely have i received, freely will i give.

Jlovin:
Let me know how I do @pinbar

study the notes

Jlovin:
Let me know how I do @pinbar

i will address those charts one by one, stay tuned

For those that are learning and following, study and ask questions, if all is clear, start posting charts and alerts. Dont be scared of the trade going the other way.

Quick note on money management , Dont take more than a trade per time for a start.

The strategy gives a sell trade alert for this pair(GBPCAD)

Jlovin:
Well I don't quite get it. Hope you'll throw more light soon.

will need you to be more specific in your question, if it has to do with identifying swing point, study my chart number 2 again , i explained on the chart.

A candle that is higher than 2 candles before and after it is a swing point, same goes for a candle that is lower than 2 candles before and after it.

fxtee:
Hi pinbar, am lost here o... after identifying swing high and low, how do I trade it? I mean how do I identify entry point, exit point and TP.
Sorry for my amateur questions o... am still a learner!

Try and study my chart number 4 again, the entries were the once i indicated with an arrow. I will answer the questions again...

Ques : How do i trade it ?
Ans : Once you put up your trend line, have it hinged at a specific point, it could be a swing point, it could be in space, does not matter. just make sure the trend line you are drawing is not too steep otherwise you may be taken out of a profitable trade early, pull the right end of the trend line to pass through the last swing point as per how i have defined swing point for you, then observe price action. If price breaks the trendline , wait for a new candle to open and close without zooming back to the trend line and touching it, then open your new trade

Ques : Exit point
Ans : many ways , you could place your sl at the most current major swing point or you wait for price to give you an opposite signal, whichever happens first

Ques : TP
Ans : This type of strategy can make you maximize your profit, meaning so far the trend is not broken , keep trailing till you get stopped out. By trailing i mean moving your stop to the last swing point as per our definition

did i just see fxisreal now

Great to see you boss

Around year 2010 or so when you were active and posting those amazing charts, i was following and trying to be like you, then came Natruetalk who had similar style and yes natruetalk was also amazing.

Jlovin:
HOPE I got this @ pinbar.

You missed some points , will give you 60%

Let me explain the reason behind my swing points.... you have to be in tune with the current market conditions, it helps in bailing out of a bad trade soon enough, sometimes it maybe the market about going into sideways movement. So instead of you tying down your margin for a trade that is devoid of momentum at that period, you can bail out and scan for other setups

fxtee:
Hi pinbar, am lost here o... after identifying swing high and low , how do I trade it? I mean how do I identify entry point, exit point and TP.
Sorry for my amateur questions o... am still a learner!

Put up a chart, let me see your swing points , also let me see you identify trend . I will answer your question later today

Open a demo account and practice it for some time, when you get a hang of it , then you can move over to a live account. Dont see it as a waste of time, remember what i said about being in a hurry to making money? RED FLAG!

Ask questions where necessary

PIPnator:
The exercise with fractal was for Tunderr not you. Check carefully, i did yours. Exercise 1 and 2. To be honest bro, the reason i did the exercise was to encourage learning here. Im past that stage with my journey. I like to encourage healthy learning here without all the back and forth bickering i see here..

My apologies, i saw it.

i mentioned this trade call on my channel, it was strictly based on this strategy

To draw your trendline, hinge the left end at any reasonable point, be it at a swing point or in space, as the movement of price continues and a swing point is established, move the right end of your trendline through that point and observe price. If price breaks that trendline, wait till a new bar is opened and its not touching the line. From the chart i posted, the arrow were the entries and the cross sign were the points the trend line were moved from. The down arrow would be ignored because we were in an uptrend, though not in all cases , we play counter trend sometimes but for the sake of this lesson, stick to the major trend

The two exercises i asked of is the foundation of the strategy, so for those following , dont just read , practice it , train your eyes to read charts without indicators, you will be amazed by the power of your eyes when you train them. We move on... next write up coming up