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Price Action Trading with Indicators! The Freebie System

  • #621
  • Jan 25, 2011 3:38am Jan 25, 2011 3:38am
Quoting rohule
hi guys

nice set up waiting to confirm on eurusd!
What setup are you talking about? What TF?

Please read my post up a few....
  • #622
  • Jan 25, 2011 3:39am Jan 25, 2011 3:39am
Quoting prof8t
Ok... have a little issue I need assistance with. I love the strategy, however, I am having a problem identifying the trend on higher timeframes utilizing these indicators. My first instinct is to use the ZZ as a guide, however, I keep psyching myself out and convincing myself that the ZZ may change the trend, thus this may not be the corrrect way to identify it. So... for my mindset and sanity, I have decided to use a TMA set to the 60 minute chart on my 15 minute charts so as to make identifying the trend a little easier for me. My question is...
You might just try an 89 ema on your 15-minute chart. This will give an indication of the higher-term timeframe. Trade long when PA is above 89, and short when it is below 89. If 89 is straight and price is crossing back and forth on it, then you're probably in a range. This is not exact, but it's a place to start.
"Be the change that you wish to see in the world." --Gandhi
  • #623
  • Jan 25, 2011 3:42am Jan 25, 2011 3:42am
Quoting Wally1953
You might just try an 89 ema on your 15-minute chart. This will give an indication of the higher-term timeframe. Trade long when PA is above 89, and short when it is below 89. If 89 is straight and price is crossing back and forth on it, then you're probably in a range. This is not exact, but it's a place to start.
Thanks for replying to that Wally, Im gald memebers like you understand there are many ways to look for the trend...
  • #624
  • Jan 25, 2011 4:00am Jan 25, 2011 4:00am
Got to love trading for a LIVING!!
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  • #625
  • Jan 25, 2011 4:03am Jan 25, 2011 4:03am
Quoting Wally1953
You might just try an 89 ema on your 15-minute chart. This will give an indication of the higher-term timeframe. Trade long when PA is above 89, and short when it is below 89. If 89 is straight and price is crossing back and forth on it, then you're probably in a range. This is not exact, but it's a place to start.

Thanks... much appreciated. I thought about this a bit and remembered I used a 75 EMA with another strategy, and it seemed to work pretty well. I appreciate the input.
  • #626
  • Jan 25, 2011 4:24am Jan 25, 2011 4:24am
Quoting prof8t
Thanks... much appreciated. I thought about this a bit and remembered I used a 75 EMA with another strategy, and it seemed to work pretty well. I appreciate the input.
Thats good prof8t....I hope everyone is making some good pips, If you need to add indicators to confirm a trade to make you feel more comfortable PLEASE do so!!
  • #627
  • Jan 25, 2011 4:27am Jan 25, 2011 4:27am
Hi Dredding,
I've seen your post about haters and everything, but, please put this system up somewhere the non-haters and the curious are able to download.
I'd really like to give this method a try, so I'd appreciate all the help.

Sam OT

P.S. Haters show that you're onto something...
  • #628
  • Jan 25, 2011 4:29am Jan 25, 2011 4:29am
Darn it Dred,

I cant believe I slept through all these good pips..The one night I sleep through London open and I miss a move like that...on a good note though...the template is working with my broker now...I guess it is something with that sunday candle...
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No man is free who is not a master of himself. -P.M.-
  • #629
  • Jan 25, 2011 4:31am Jan 25, 2011 4:31am
Quoting pmullin86
Darn it Dred,

I cant believe I slept through all these good pips..The one night I sleep through London open and I miss a move like that...on a good note though...the template is working with my broker now...I guess it is something with that sunday candle...
YOU SNOOZE YOU LOSE!! lol Yea but dont worry there will be other trades this week that will make you profit!!

Thats good so i guess that just means all you people with those brokers get to take an extra day for a break lol
  • #630
  • Jan 25, 2011 4:34am Jan 25, 2011 4:34am
Got my 50 pips goal. Using 30 min, I just let it ran as the price dropped. And I am done for the day.
  • #631
  • Jan 25, 2011 4:36am Jan 25, 2011 4:36am
Quoting forexforex
Got my 50 pips goal. Using 30 min, I just let it ran as the price dropped. And I am done for the day.

Thats GREAT!! I hope you keep making pips
  • #632
  • Jan 25, 2011 4:40am Jan 25, 2011 4:40am
Yeah im not too worried about it...thats one thing i've picked up while working on my "trading psychology" lol...like you say dont be greedy and also not to worry about missed pips because the market is always full of opportunities and full of pips to be made lol...
No man is free who is not a master of himself. -P.M.-
  • #633
  • Jan 25, 2011 4:41am Jan 25, 2011 4:41am
Do you mind telling me when are the best times to trade using this stratergy. Thanks.
  • #634
  • Jan 25, 2011 4:41am Jan 25, 2011 4:41am
Quoting pmullin86
Yeah im not too worried about it...thats one thing i've picked up while working on my "trading psychology" lol...like you say dont be greedy and also not to worry about missed pips because the market is always full of opportunities and full of pips to be made lol...

YUPPERS! I didnt take the GBP trade....i wish i would have that would have been SWEET!!!!!!! but oh well lol
  • #635
  • Jan 25, 2011 4:43am Jan 25, 2011 4:43am
Quoting Checkz
Do you mind telling me when are the best times to trade using this stratergy. Thanks.
There is no "best time" you cant time when the markets are going to move...if you dont have the time to trade off the lower TFs then move to a higher TF

I trade right before london open till around US close since there is most times more volume in the markets
  • #636
  • Jan 25, 2011 4:44am Jan 25, 2011 4:44am
Thanks Dredding82. I got 10 pips the first test of R1, then only 40 pips in the 2nd test of R1. It could have been more pips in the last drop, but I am a conservative trader.

I am becoming more curious about this FIB indy. Does any here have a similar indy that will leave previous days' plotting,
  • #637
  • Jan 25, 2011 4:44am Jan 25, 2011 4:44am
Quoting pmullin86
Darn it Dred,

I cant believe I slept through all these good pips..The one night I sleep through London open and I miss a move like that...on a good note though...the template is working with my broker now...I guess it is something with that sunday candle...
Maybe you can download a demo for a different broker for monday
  • #638
  • Jan 25, 2011 4:45am Jan 25, 2011 4:45am
Quoting kiwiparis
Maybe you can download a demo for a different broker for monday
I WOULD not do that....i have watched demo next to my live charts and demo will jump in price when nothing happens on the live charts....Demo is BS in other words!

Best thing is to pick another broker with a low deposit...alot you can open a live account for $1.oo usd .....and use them for sunday or better yet take the time to relax and wait for the next day
  • #639
  • Jan 25, 2011 4:46am Jan 25, 2011 4:46am
Quoting Dredding82
There is no "best time" you cant time when the markets are going to move...if you dont have the time to trade off the lower TFs then move to a higher TF

I trade right before london open till around US close since there is most times more volume in the markets
Thanks
  • #640
  • Jan 25, 2011 4:48am Jan 25, 2011 4:48am
Quoting kiwiparis
Maybe you can download a demo for a different broker for monday

Im actually thinking about that...but I'm not sure which one I want to go with...a couple users with a similar problem mentioned there other broker that worked both being different so I may just use one of them since it would just be for charting purposes only anyway so its not too significant who I open one with I dont guess...but I still have to try what dredding suggested with going back on my higher time frame charts to help load up some data for it to work properly...so I have to wait until sunday again to try that first but I will have my back up by then in case of anything...
No man is free who is not a master of himself. -P.M.-
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