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Price Action Trading with Indicators! The Freebie System

  • #201
  • Jan 20, 2011 1:29pm Jan 20, 2011 1:29pm
Since i am getting so many questions about the pivots and what is a valid trade i will post some examples of VALID trades
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  • #202
  • Jan 20, 2011 1:32pm Jan 20, 2011 1:32pm
GBPUSD
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  • #203
  • Jan 20, 2011 1:33pm Jan 20, 2011 1:33pm
Quoting Dredding82
YES! Fib S1 held on M15 and H1 so from that point it will prob go to Pivot,M3,Fib R1 or maybe Fib R2 and so on...but like i said uss a 1:1-1:4+ TP but DO NOT BE GREEDY! lol Greed kills your account not a system

Interesting,
you know the markets well and have good intuition on price movement.

Strange, when I sent you that pic you said that it was a possible sell but it did go threw the piv level so must likely I should be looking for a buy signal instead.

So, my last pic here.
The first line is an obvious buy. What about the second? just a continuation of the first trade or is it an entry?

I hope my questions are valid.
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  • #204
  • Jan 20, 2011 1:35pm Jan 20, 2011 1:35pm
Quoting Cubbybgood
Interesting,
you know the markets well and have good intuition on price movement.

Strange, when I sent you that pic you said that it was a possible sell but it did go threw the piv level so must likely I should be looking for a buy signal instead.

So, my last pic here.
The first line is an obvious buy. What about the second? just a continuation of the first trade or is it an entry?

I hope my questions are valid.
Gotta add a pic....unless you have some high tech invisible .jpg stuff i aint never seen before lol
  • #205
  • Jan 20, 2011 1:40pm Jan 20, 2011 1:40pm
I said it was a possible sell only because there was a nice movement down to the Fib S1...But as you seen i also said it was more then likey going to head higher because the S1 held on M15 & H1. That would be a valid retracement M15 enter from the buy on H1

A retracement trade like on this one is when price goes closes above the pivot goes back down to close below then pops up and closes back above the pivot.......HARDER FOR PEOPLE TO LEARN good setups...
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  • #206
  • Jan 20, 2011 1:43pm Jan 20, 2011 1:43pm
BUT i am not trying to get people to enter RETRACEMENTS! what i am trying to show and teach is how when a PIVOT FAILS it is a LOW risk HIGH reward setup....and to TRADE WITH THE TREND of a HIGHER TF
  • #207
  • Jan 20, 2011 1:46pm Jan 20, 2011 1:46pm
Quoting Dredding82
I said it was a possible sell only because there was a nice movement down to the Fib S1...But as you seen i also said it was more then likey going to head higher because the S1 held on M15 & H1. That would be a valid retracement M15 enter from the buy on H1

Awesome, I actualy got the buy on the re-entry.

Up 27 pips right now.

I wanted to talk about this trade that you marked in your pic. All of the entrys make sense but this one....

How would you enter this trade? it did break the fib piv point. You entered late on this trade. Why and how did you decide to enter?
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  • #208
  • Jan 20, 2011 1:47pm Jan 20, 2011 1:47pm
Quoting Dredding82
BUT i am not trying to get people to enter RETRACEMENTS! what i am trying to show and teach is how when a PIVOT FAILS it is a LOW risk HIGH reward setup....and to TRADE WITH THE TREND of a HIGHER TF

Got it.
Why not?
Do you not enter at these points or are you telling others entering on a retracement is risky?
  • #209
  • Jan 20, 2011 1:51pm Jan 20, 2011 1:51pm
Quoting Cubbybgood
Awesome, I actualy got the buy on the re-entry.

Up 27 pips right now.

I wanted to talk about this trade that you marked in your pic. All of the entrys make sense but this one....

How would you enter this trade? it did break the fib piv point. You entered late on this trade. Why and how did you decide to enter?
Your pivot line is wrong...my platform shows it at .9572 it failed 2 times and the risk was so small 13 pips and the TP was alot bigger 32-43 pips...you cant see a trade and think about it....just pull the trigger! if you dont then you will kick yourself when you would have make 100 pips or whateva.....DONT TRADE WITH EMOTIONS TRADE WHAT YOU SEE!! TRUST YOUR INDICATORS!!

NEVER TRUST YOUR WIFE THOUGH!! LMAO
  • #210
  • Jan 20, 2011 1:52pm Jan 20, 2011 1:52pm
Quoting Cubbybgood
Got it.
Why not?
Do you not enter at these points or are you telling others entering on a retracement is risky?
JUST DONT DO them!!! there only maybe a 1:1 or 1:2 risk/reward!!!.....once people learn to trade what i have told them already they will look and be like WOW hey thats prob a retracement but they NEED TO LEARN TO READ THE CHARTS!
  • #211
  • Jan 20, 2011 1:58pm Jan 20, 2011 1:58pm
Hi Dredding... great system, thanks for sharing!

Just a quick note..... The pivot indicator you are using is showing main Fib Pivot points but with Mid lines of normal Pivots.

You can get even more good signals if you use Mid Lines of Fib pivots
  • #212
  • Jan 20, 2011 1:59pm Jan 20, 2011 1:59pm
Quoting d4n
Hi Dredding... great system, thanks for sharing!

Just a quick note..... The pivot indicator you are using is showing main Fib Pivot points but with Mid lines of normal Pivots.

You can get even more good sugnals if you use Mid Lines of Fib pivots
Yes i know....but trust me this works alot better since you have fib pivots and reg pivots!
  • #213
  • Jan 20, 2011 2:00pm Jan 20, 2011 2:00pm
Quoting Dredding82
Your pivot line is wrong...my platform shows it at .9572 it failed 2 times and the risk was so small 13 pips and the TP was alot bigger 32-43 pips...you cant see a trade and think about it....just pull the trigger! if you dont then you will kick yourself when you would have make 100 pips or whateva.....DONT TRADE WITH EMOTIONS TRADE WHAT YOU SEE!! TRUST YOUR INDICATORS!!

NEVER TRUST YOUR WIFE THOUGH!! LMAO


Ok.
Awesome!
I think this was an important conversation here.

The piv points are way different then I thought... At least with this system. You explaining this makes sense. I know that others think the same way about piv points which is unfortunate.

Really? Should I not believe what I've learned about FPP?
I'm not really sure who to trust. I guess when it comes to this system I should trust you! Lol.

Looking at the charts with the new understanding of piv points makes a HUGE difference on the system!

I will contenue to use it.
  • #214
  • Jan 20, 2011 2:02pm Jan 20, 2011 2:02pm
What do you think I should do about my brokers fib levels? should I even worry about if mine are a little different?
  • #215
  • Jan 20, 2011 2:03pm Jan 20, 2011 2:03pm
Dredding,

I have been studying your system. You asked for a PM to receive the
Fib and pivot indicators. I sent the pm yesterday morning with that request.
I will send again. When you have the time, could you send those indicators.

Thank you for putting your system on this thread and taking the time to educate on how to use it.

BigANC
  • #216
  • Jan 20, 2011 2:09pm Jan 20, 2011 2:09pm
Quoting Cubbybgood
What do you think I should do about my brokers fib levels? should I even worry about if mine are a little different?
brokers should not matter....you will get signals on some pairs before or after others or maybe not at all, but the ones you get we might not get so it kinda equals out...if you dont get any signals ever or only like 1 a day.....TIME TO CHANGE BROKERS!!lol
  • #217
  • Jan 20, 2011 2:12pm Jan 20, 2011 2:12pm
Quoting Cubbybgood
Ok.
Awesome!
I think this was an important conversation here.

The piv points are way different then I thought... At least with this system. You explaining this makes sense. I know that others think the same way about piv points which is unfortunate.

Really? Should I not believe what I've learned about FPP?
I'm not really sure who to trust. I guess when it comes to this system I should trust you! Lol.

Looking at the charts with the new understanding of piv points makes a HUGE difference on the system!

I will contenue to use it.
Well remember it but just NOT WITH THIS SYSTEM! or you will more then likely LOSE your account!
  • #218
  • Jan 20, 2011 2:51pm Jan 20, 2011 2:51pm
Quoting Longshot
Enough said. Not a shred of proof that you've been profitable for the last 3 years. I've seen very similar systems (complete with rapid-fire posting from somoene who "doesn't have time" to verify their claims) for over 5 years on forums. I just browse these threads occasionally out of morbid curiosity. I do fine by my trading systems and don't need a subjective, non-verified "easy pips" approach.

I'm just hoping to give newbies a fair warning and some food for thought...Big claims and cherry-picked examples prove nothing.

Bye.
BIG CLAIMS? CHERRY PICKED? are you serious you re re?

CLAIMS--- look at the others using my system already on demo or live(hope not yet till they get a real feel for it) They understand it and they have made pips!! EASY PIPS!!

CHERRY PICKED? OH COME ON!! all the charts are from the current charts!!! CRAP some are from others that are trying to learn the system!!! So how the H*LL are they CHERRY PICKED!! HUH!!!! go back to your systems and make your pips (3 years in a forum) and leave MY THREAD ALONE!!
  • #219
  • Jan 20, 2011 3:09pm Jan 20, 2011 3:09pm
A thread writer that shares his system is doing so to try to help other traders for FREE. A thread writer does not have to prove how well the system works for them, the thread reader (if their smart) has to research and try the system to see if it works for them. Dredding is responding to all questions and helping above and beyond what should be expected. We all know that traders trading the same system will have different results. So to all...try the system, ask questions and if it works for you then go make some pips, if it doesn't then move on to the next one. There's plenty to choose from on FF.
Thanks again Dredding!
Barry
  • #220
  • Jan 20, 2011 3:24pm Jan 20, 2011 3:24pm
Dredding82,

Do you give any credence to the Top of The Hour trade?

I have watched the beginning of the hour bar and noticed many big moves take place at this time. It seems that each hour bar is good for one good move at the beginning.

I am going to watch this time frame using your system for entries.

Any thoughts?

Regards,
Cigarguy
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