I've spent the last few days backtesting pinbars for the months of August and October 2011. The results look very nice.
The backtest seemed to show that a 1:1 risk:reward ratio is optimal, with a trailing stop loss equal to half of the take-profit target. The trailing SL will ensure that the trade ends in break-even if it moves halfway in my favour before reversing.
112 trades were opened during the backtest, with the criteria for pinbars quite loose.
Win % = 53%
Break-even % = 13%
Lose % = 34%