• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
Trading Heroes

Trading Heroes

Forex Trading Education

  • About
  • Free Training
  • Products
  • Work With Me
  • Login

EURAUD – Pin Bar Trade Analysis and Results

It's another Pin Bar! Learn what went wrong with this trade and why I'm OK with it. The funny thing is that it made the same amount of money, as a trade that went totally right.

Home / Trader Life / EURAUD – Pin Bar Trade Analysis and Results

Last updated: August 11, 2022
By Hugh Kimura

Here is a Pin Bar trade that I just took that didn't work out quite as I wanted. But that's just how trading works, it won't always be perfect.

In this Pin Bar trade analysis, I'll break down what worked, what didn't, and why I'm not stressed.

Before We Start:

  • This is for educational use only, it is not trading advice.
  • Just because this trade worked out, it does not mean that all trades with this strategy will work out.
  • You need to backtest any technical trading method before you ever trade it with real money.
  • The standard Trading Heroes risk disclaimer always applies.

Now that we have that out of the way, here’s the trade…

The Setup

Here is what the Pin Bar alert on my phone via the MT4 app looked liked. If you are following along closely at home, this is not the actual signal, but what my alert indicator looks like. I accidently erased the actual signal 🙂

Pin bar alerts on iPhone

The Entry

I traded the EURAUD on the H4 chart.

RELATED: Positive affirmation tracks to reprogram your subconscious

This Pin Bar was a little different than the type I usually trade, in that it is a trend continuation Pin Bar, instead of a trend reversal Pin Bar. But the price action was good, there was a strong move, followed by a pullback, ending (hopefully) with a Pin Bar.

The lines on the chart are as follows:

  • Red: Stop Loss
  • Blue: Entry
  • Green: 1st Profit Target

The entry parameters are as follows:

  • Risk: 0.5%
  • Positions:
    • 1st: 1R target, 80% of total position
    • 2nd: no profit target, move stops as price moves in positive direction, 20% of total position

EURAUD open of trade

Trade Results

I put this trade on and went to sleep. There was some upcoming Australian news, but I thought that the trade would be OK.

…and here's what it looked like when I woke up:

Pin bar trade analysis

Sweet, right?

Well, not so much.

It turns out that the spread widened and I actually got stopped out on the second position!

So price shot up, hit the first profit target, and the trade bagged 86 pips.

Closed Buy $EURAUD 1.52838 for +86.4 pips, total for today +86.4 pips << https://t.co/FeiQErpBtN #TFALchallenge

— Hugh Kimura (@TradingHeroes) May 6, 2016

…then price came back, the spread widened (or maybe vice versa), and my stop got hit. Crap.

Closed Buy $EURAUD 1.52838 for -22.3 pips, total for today -22.3 pips << https://t.co/FeiQErpBtN #TFALchallenge

— Hugh Kimura (@TradingHeroes) May 5, 2016

The Final Result From MyFxBook is as Follows:

Trading results

It was a total gain of 0.4% on the account or $3.60 in this small trading account. 

I hope that this shows you that you can trade safely, even with a small account. It’s all about using nano lots. 

Post Pin Bar Trade Analysis

The results of this trade were not optimal, but I'm OK with it. I made money on balance, and I actually made the same amount that I made on the last Pin Bar trade I analyzed.

In the past, I would have obsessed over losing that second position. But I have learned how to embrace the suck and move on.

Next trade!

Do you have any thoughts about this trade? Could I have done something differently? Let me know in the comments below…

 

 

Disclaimer: Some links on this page are affiliate links. We do make a commission if you purchase through these links, but it does not cost you anything extra and we only promote products and services that we wholeheartedly believe in. 

 

Related Articles

  • Bail-in vs Bail-outWhat's the Difference Between a Bail-Out and a Bail-In?
  • Greg McLeod: How A South Central Public School Teacher Became A Successful Forex...Greg McLeod: How A South Central Public School Teacher Became A Successful Forex...
  • Forex Trading in Tallinn, EstoniaForex Trading in Tallinn, Estonia
  • why 90% of traders failWhy Over 90 Percent of Forex Traders Fail
  • spirituality in tradingSpirituality in Trading
  • forex trading volumeWhat is Volume in Forex Trading?
  • Happiness in lifeThe 7 Trading Training Steps of Professional Forex Traders
  • Bank buildingWhat is a Negative Interest Rate?

Category: Trader Life Tag: Live Trading Results

About Hugh Kimura

Hi, I'm Hugh. I'm an independent trader, educator and researcher. I used to work at a hedge fund and the largest bank in Hawaii. Now I help traders optimize their trading psychology and trading strategies. Learn more about me here.

You only need 1 really good trading strategy. Focus.
You only need 1 really good trading strategy. Focus.

Primary Sidebar

Trading Guides

The Ultimate Beginner’s Guide to Forex Backtesting

How to Figure Out Your Trader Personality Profile

The Forward Testing Guide for Beginners

How to Create a Precise Trading Plan (with PDF worksheet)

 

Learn how to backtest...the right way.

Learn More

Learn the weird trading method that doesn't use stop losses...

Forex Hedging Guide
FREE Guide
Download Now

Footer

Company

  • Trading Courses and Education
  • Trading Blog
  • About
  • Contact
  • Beware of Imposters

Community

  • YouTube
  • Twitter
  • Instagram
  • Facebook

Tutorials & Guides

  • Best Trading Resources
  • Free Forex Trading Course for Beginners
  • Free Backtesting Guide for Beginners
  • Trader Personality Profile
  • Best Trading Books

Articles

  • Backtesting
  • Podcast
  • Trader Life
  • Trading Psychology
  • Trading Software Tutorials
  • Trading Strategies

Trading involves risk and can result in the loss of your investment. Invest at your own risk. Past performance does not guarantee future results. All information on this site is for informational purposes only and is not trading, investment, tax or health advice. The reader bears responsibility for his/her own investment research and decisions. Seek the advice of a qualified finance professional before making any investment and do your own research to understand all risks before investing or trading. TrueLiving Media LLC and Hugh Kimura accept no liability whatsoever for any direct or consequential loss arising from any use of this information. You are 100% responsible for your losses...and gains. You are more powerful than you know, keep expanding.

 

Copyright © 2007–2023 TrueLiving Media LLC | Terms | Privacy | Risk

Learn Forex Hedging

Hedging can be a low-stress and consistent way to trade. Enter your email and I'll send you the FREE guide. 

x