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Pin bars-advanced.pdf

Pin bars-advanced

geyi2008
2012-06-24 0人阅读 举报 0 0 暂无简介

简介:本文档为《Pin bars-advancedpdf》,可适用于经济金融领域

Pinbars:advancedmaterialLincoln(akalwooatForexfactorycomforums)ThistutorialfocusesonmoreadvancedpinbarsetupsItshouldonlybereadaftertheintroductorytutorialasitcontinuesthesamethemesandassumessomeknowledgeofpinbarsThesourceofthismaterialconsistsofnumerouspostsbyJames(wwwjamesgroupcom)atforexfactorycomandseveralothermemberswhohaveexperimentedwithpinbarsThistutorialcoversthefollowingtopics:•Settingtheinitialstoploss–amoreaggressivestrategy•Enteringthetradeearly–amoreaggressivemethodofenteringatradebasedonapinbar•Whattodoifyougetan‘almostpinbar’–sometimesyouwillgetabarthatyouthinkisapinbarandthissectionshowsyouhowyoumightplayit•Whichpinstotrade–ashortdiscussiononthetypesofpinsyoushouldbetrading•Tradingusingmultipletimeframes–howyoucanusealongertermpinbartosetthesceneforseveraltradesonshortertimeframes•Closingremarks–somefinalthoughtsontradingpinbarsLegalnotes:Theauthoracceptsnoliability(orresponsibility)forlossordamagesufferedthroughapplicationoftechniquesormethodsdiscussedinthisfilePermissionisgrantedtodistributethisfilewhilethecontentsremainunchangedandnochargeismadeSettingtheinitialstoplossThissectiontalksaboutsettingamoreaggressivestoplossinitiallyThismeansthatthestoplosswillbeclosertotheentrypointandwillallowabetterreturnonasuccessfultradebutitwillbemorelikelythatthetradewillbestoppedoutTherearethreemethodsofsettingtheinitialstopmoreaggressivelybasedonthe:)eye)fibretracements)confluenceSlightlymoreaggressiveorexperiencedtradersmaydecidetoputtheirstopabovethelevelofthefirsteyeAgain,thestopmaybeplacedjustabovetheleveloftheeyeLookingatFigurethestoplosswouldbeplacedpipsabovethehighformedbytheeyeFigureSettingastopbeyondtheeyeFigureSuccessaftersettingthestop!InFigurethestophasbeensetjustbeyondtheeyeThisisforGBPUSD,dailychart,forJanAfterthepinbarthepricefellnicelyandfailedtohitthestop!AlternativelyatradermayplacetheirstopjustbeyondthefibretracementofthepinbarIfpricesdogopastthispointthenthereisagoodchancethattheywillcontinuetogofurtherSeeFigureforhowthisstoplossissetAgain,FigurecanbeinspectedtoseehowthetraderanafterthispointWeseethatthepricesretracethepintowheretheymayjusthitthestoplosspointAnalternativeaggressiveapproachistoplacestopsjustbeyondafiblevelormovingaverage(orconfluenceofthese)thatpassesthroughthenoseofthepinbar(thishasnotbeenillustrated)ThiswillproduceatighterstopthansettingthestopbeyondthepinbarhoweveritisstillmorepronetobeingstoppedoutUnderthesecircumstancesthetraderishopingthattheconfluenceoffactorswillexertenoughresistancetopricestopreventtheirstopsfrombeinghitEnteringthetradeearlyThereareseveralaggressivewaystoenteratraderatherthanwaitingforabreakofthepinbarTheygetyouinatbetterpricesbutthereisagreaterchancethatthetradewillnotworkoutThetwokeymethodsare:enteringonthecloseofthepin,and,waitingforaretracementofthepinbarIfthetraderdecidestoenteronthecloseofthepinbartheywillgetabetterpricethanwaitingforabreakofthepinItishigherrisk,however,asthetradeismorelikelytofailOnebenefitisthatitwillgetthetraderintothetradeEnteringontheretracementmightnot(Pricesmaynotretracethepinbaratall–theymayjustshootoffintherightdirection!)WhenatraderdecidestoenterontheretracementofthepinbartheycangetaverygoodpriceItishigherriskthanwaitingforabreakofthepinItalsohasthedangerthatpricesmaynotmakeittotheretracementlevelchosen,inwhichcasethetraderwillmissoutonagoodtrade!ThepositionofthecloseofthepinbarwilldeterminewhichofthesemethodswouldbemoreprofitableIftheyarecoupledwiththemoreaggressivesettingoftheinitialstoplossitispossibletohavesomegoodtradesetups,eveniftheyareriskierFinallysometradersmaydecidetoenteronmultiplepointsTheymaydecidetoenterahalfofthetradeonthecloseofthepin,thenanotherhalfofthetradeonaretracementifthepricesreachthislevelThiswaytheywillcertainlygetahalfpositioninplace(onthecloseofthepin)butifthepricesretracethentheywillgetasecondhalfofthetradeonatanevenbetterpriceItisalsopossibletoplaceasellstopbelowthebottomofthepinbarasthoughthepinbarwasgoingtobeplayedconservativelyThismeansthatthetradewillbeenteredandthetraderwillnotmissoutHowever,pricesmayfirstretracesomeofthepinbar,allowinganopportunityforthetradertogetinatabetterpricethantheywouldiftheytookaconservativeapproachIfthishappensthetradermayadjustthesellstopssothattheiroverallriskismanagedeffectivelyWhattodoifyougetan‘almostpinbar’Thissectiondetailswhattodoifthepinbardoesnot‘lookright’FigureHowtotradethislikeitISapinbarShowninFigureisasetupthatdoesnotqualifyasapinbarThischartisofOctoberthroughFebruaryoftheUSDCAD,weeklychartNotethatthecloseofthe‘almostpinbar’isbelowtheeyeformedbythepreviousbarFigureFindingandcreatinga'proxy'eyeforthepinbarSo,nowwhatItisnotatruepinbarHoweverinFigureweseethattherewasanearlierbar(whichwascoincidentlyapinbar)whichhasalowthatislowenoughthatitwouldmakeagoodeye(thelowforthisbarisbelowtheopencloseofour‘almostpinbar’)Thisbarcanbeusedasa‘proxyeye’inplaceoftheeyethatisnormallyformedbythebarprevioustothepinbarNotehowthe‘proxyeye’isnowlevelwiththecurrentneweye(notethatinthiscasethebarformingtheneweyehasnotfinishedyetitmaystillcloselower)FigureSeeingthispinbarsetupInFigurewecanseethepinbarsetupusingthis‘proxyeye’Theimagehashadthebarsbetweenthenew‘proxyeye’andthecurrentpinbarcutoutsothatthepinbarsetupcanbeclearlyseenThispinbarcannowbetradedasa‘regular’pinbarTradersmaytreatthissetupwithcautionandacceptthatithasahigherriskthananidealpinbarsetup(Ifyougobackandcheckthistradeyouwillseethatitwasgoodforquiteafewpipsbutwasnotfantastic)WhichpinstotradeThissectiongivessomeexamplesofpinsthatare‘good’andwouldbegoodtotradeaswellaspinsthatmightbeavoidedTradersmaycombinepinbarswithothermethodologies,particularlytechnicalanalysisPinbarsoffsupportresistanceorchannelscanbeparticularlyeffectiveTradersmaydecidenottotakeatradeintoanareaofsupportorresistanceBetterprobabilitieswillbefoundtradingawayfromareasofresistancesupportRememberthatthatapinbarwithahigherprobabilityofsuccesswillbebouncingofftheseareas!SometimesitistemptingtoplayapinbaronaHchartuntilyourealisethatonthedailycharttheremaybesomeseriousresistancethatwouldneedtobeovercomeforthepinbartobesuccessfulIfthereisaweeklypinthatsuggeststhatlongtradesshouldbetaken,tradersmaybecautiousabouttakingashortpositionbasedonadailyoraHpinbarsoonafterthisRememberthatpinbarsonlongertimeframesgivemorepowerfulandlongertermindicationsofpricemovementsYoucanbepatientandtakeonlythebestpinbartradesTakethematswinglowswinghighandwhenthepinbouncesoffconfluenceoffiblevelsandmovingaveragesorotherareasofsupportresistanceThesearethebestsetupsBeselectiveandmakesurethatthepinbar‘looksright’AsatraderplaysmorepinbarstheywillgainexperienceandunderstandingofhowpricereactswithpinbarsOvertimethisexperiencewillhelptraderstotradepinbarsmoresuccessfullyinthefutureinsimilarcircumstancesWheninvestigatingpinbarsetupsyoumayfindyourselfunsureaboutaspecificpinbarsetupTradersmaydecidenottotakequestionablepinsthattheyhavedoubtsaboutYoumightthinkthatyouaretradingintoheavyresistancebutthepinbardoeslookgoodDonottradeitBeselectiveandtakethebestTradingusingmultipletimeframesAssuggestedintheprevioussection,itisoftenprofitabletotradeusingmultipletimeframesUseapinbaronthelongertimeframetosettheprobablydirectionofthetrendthattradesmaybetakeninThenswitchtoasmallertimeframetofinetuneyourentryandstopBydoingthisyoucanachievemuchtighterstopswhichcanallowgreaterprofitsTradingonthesmallertimeframesmightbeusingpriceactionandpinbars,orothermethodsTradersmayusealongtermpinbarsetuptodetermineneartermpricemovementsandtradeusingdifferentmethodsonashortertimeframeinthisnewtrenddirectionSometradersatforexfactorycomhaveusedpinbarsondaychartstoidentifyturningpointsbeforeenteringtradesusingVegas’HTunnelIfFigureisinvestigatedanddailychartsforUSDCADarepulledupthereissoonapinbarformingonthedailychartwiththenosepointingUPintheoppositedirectiontotheweeklypinbar!Inthiscaseitmaybewisetopaymoreattentiontotheweeklypinbarbecausethesetendtobemorereliablesopriceswillprobablycontinueupforawhile,despitethedailypinbarsuggestingthatpricesmayheaddownClosingremarksInclosingIwouldliketoremindreadersthatitisimportanttopractisegoodmoneymanagementwhiletradingTradelessoftenandtakeonlythebestsetupsTradingisaprobabilitiesgameTheoutcomeofeachtradeisgoingtoberandomandyoucannotknowtheoutcomeinadvancebutovertimeyoucanmakeconsistentprofitifyoucantiptheoddsinyourfavourYoucandothisusingpinbarsIwouldliketothankJim(akaJamesatforexfactorycomandthekeyinstructoratwwwjamesgroupcom)forteachingmanymembersoftheforexfactorycomforumstotradeusingpinbarsIhopethatsomereaderswillfindthesefileshelpfulandthattheywilllearntotradepinbarsandenjoyitItishighlyrecommendedthattheJamesChartsthread(atforexfactorycom)isreadthroughasthiscontainsnumerousexamplesoftradingusingpinbarsTradersmayalsobeinterestedintheJamesGroup(wwwjamesgroupcom)wheretheycangetmorerapidfeedbackfromJimaswellasmanygreatexamplesofsetupspostedastheyoccurinthemarketsJimalsohasseveralothersystemspostedthathetradesTherearetwoothertradersthatprovideinstructionandhelpFijiTraderspecialisesinmoneymanagementpsychologyDiallistteachestheKnife,amoremechanicaltradingmodeladaptedfromVegas’HTunnelmodel

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