Price Action Trading with Indicators! The Freebie System | Page 73 | Forex Factory

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Price Action Trading with Indicators! The Freebie System

  • #1,441
  • Feb 17, 2011 11:09am Feb 17, 2011 11:09am
After coming dangerously close to my SL (missed it by 24 pips) the day before, this trade has finally turned around and started to head into a little profit (about 40 pips). Dotted lime green line was my entry.
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  • #1,442
  • Feb 17, 2011 11:11am Feb 17, 2011 11:11am
Quoting snarlyjack
Dredding,

Question on the stochastics setting?

When I first started trading someone said to use the settings 5-3-3.
Later on someone said to use 8-3-3.
After that someone said to use 14-3-3.
Now your using 10-3-3.

Could you talk about the correct settings that we should be using on the
stochastics indicator? I like the stochastic indicator it is my favorite
indicator but I've been burned by it also.

I guess I just want your opinion of the stochastic indicator and your
indicator settings.

tks

snarlyjack
Settings can be changed if you wish...i just find 10,3,3 is better in my eyes of course you have been burned by it and every other indicator......NOTHING IS 100% you have to watch the charts....once you get used to how price moves or acts around certian levels you will beable to see the BIG picture clear...and like i have said USE a higher TFs trend.......
  • #1,443
  • Feb 17, 2011 11:12am Feb 17, 2011 11:12am
Quoting snarlyjack
Dredding,

Question on the stochastics setting?

When I first started trading someone said to use the settings 5-3-3.
Later on someone said to use 8-3-3.
After that someone said to use 14-3-3.
Now your using 10-3-3.

Could you talk about the correct settings that we should be using on the
stochastics indicator? I like the stochastic indicator it is my favorite
indicator but I've been burned by it also.

I guess I just want your opinion of the stochastic indicator and your
indicator settings.

tks

snarlyjack
10-3-3... you can see it in the examples throughout this thread.
  • #1,444
  • Feb 17, 2011 2:57pm Feb 17, 2011 2:57pm
I am changing my habits and shift to D1 now because of still being tied to a regular day job. Took this trade yesterday. Up 35 pips right now. There should be more pips coming my way.

fcxx

P.S. Please people, keep this thread clean. I know I would have walked away from this days ago if I was the OP. I can't imagine people would behave like this in a regular face2face conversation. Paying attention can't be that hard. Trade on.
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  • #1,445
  • Feb 17, 2011 5:39pm Feb 17, 2011 5:39pm
This is the list of people that will be getting an email tomorrow with the Freebie tpl and indicators...if your name is not on the list....you should know WHY!
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  • #1,446
  • Feb 17, 2011 6:35pm Feb 17, 2011 6:35pm
Quoting fxcc
I am changing my habits and shift to D1 now because of still being tied to a regular day job. Took this trade yesterday. Up 35 pips right now. There should be more pips coming my way.

fcxx

P.S. Please people, keep this thread clean. I know I would have walked away from this days ago if I was the OP. I can't imagine people would behave like this in a regular face2face conversation. Paying attention can't be that hard. Trade on.

Those Fib pivs look a little tight. What settings are you using? Or do you just need to zoom in a little? Could you repost your chart with the setup so that we couls see the Fibs a little better?
  • #1,447
  • Feb 17, 2011 6:37pm Feb 17, 2011 6:37pm
Quoting prof8t
After coming dangerously close to my SL (missed it by 24 pips) the day before, this trade has finally turned around and started to head into a little profit (about 40 pips). Dotted lime green line was my entry.
oh i see!!! I didnt know that we can use weekly pivot levels to trade on a daily chart! Thanks Prof8t!!!

Will demo that!! Excellent!!
  • #1,448
  • Feb 17, 2011 7:02pm Feb 17, 2011 7:02pm
Quoting fxcc
I am changing my habits and shift to D1 now because of still being tied to a regular day job. Took this trade yesterday. Up 35 pips right now. There should be more pips coming my way.

fcxx

P.S. Please people, keep this thread clean. I know I would have walked away from this days ago if I was the OP. I can't imagine people would behave like this in a regular face2face conversation. Paying attention can't be that hard. Trade on.

Ahhh... your EURO trade is counter-trend. Not such a bad deal on the daily timeframes. I will only counter-trend trade on daily timeframes. I'm up 160 pips on the USDCHF counter-trend. I won't post counter-trend charts here so as not to introduce more confusion to the individuals trying to learn the basic strategy but you can load it up for yourself and take a look.
  • #1,449
  • Feb 18, 2011 12:25am Feb 18, 2011 12:25am
I have been happily involved with this thread from day 1 but due to my status on FF I have been unable to PM Dreddings for the templates and Indies...

Please another Friday and NO goodies coming my way?

[email protected]
  • #1,450
  • Feb 18, 2011 1:33am Feb 18, 2011 1:33am
Quoting Gryffn
I have been happily involved with this thread from day 1 but due to my status on FF I have been unable to PM Dreddings for the templates and Indies...

Please another Friday and NO goodies coming my way?

([email protected])

YOU PEOPLE ARE pissing me off............If you really have been involved you would know NOT TO POST YOUR CRAP ON THE THREAD BUT PM ME! Search the NET for the indicators! your on IGNORE!

Point MADE ONCE AGAIN! People want to make money but do not want to take time to learn or understand how to do it!
  • #1,451
  • Feb 18, 2011 2:43am Feb 18, 2011 2:43am
Ok since most are newbies here and dont really know how to make money i thought i would show people what happens when you compound your gains as i have said a few times!

"Whenever you decide to invest in something for the long term, you should always think ahead on what would be the best choice in the long run while having persistence to follow through with it. The scenario was that if you were given a choice to receive one million dollars in one month or a penny doubled every day for 30 days, which one would you choose? When I first heard this, I knew that the penny doubled everyday must have been the better choice to go with as it was a little obvious to me that it had to be a trick question of some sort. But how much better would it be was not something that I knew immediately. So to demonstrate this, it was actually written out with all the calculations and it turned out to something like this:

Day 1: $.01
Day 2: $.02
Day 3: $.04
Day 4: $.08
Day 5: $.16
Day 6: $.32
Day 7: $.64
Day 8: $1.28
Day 9: $2.56
Day 10: $5.12
Day 11: $10.24
Day 12: $20.48
Day 13: $40.96
Day 14: $81.92
Day 15: $163.84
Day 16: $327.68
Day 17: $655.36
Day 18: $1,310.72
Day 19: $2,621.44
Day 20: $5,242.88
Day 21: $10,485.76
Day 22: $20,971.52
Day 23: $41,943.04
Day 24: $83,886.08
Day 25: $167,772.16
Day 26: $335,544.32
Day 27: $671,088.64
Day 28: $1,342,177.28
Day 29: $2,684,354.56
Day 30: $5,368,709.12

Quite a big difference once you look at it as you would be getting over 5 million dollars with the penny doubled everyday for 30 days route. The funny thing when I look at this is how it is almost like starting a business and trying to make a profit. In the beginning you struggle a lot to get things going and afterwards once it reaches to a point it just takes off smoothly. How does that analogy go again……it is something like starting a business is like a rocket ship taking off into space. You spend 80% of your fuel during take off and once it reaches a certain point it flies smoothly with minimal consumption."

Now just think of that as your account and you only started with $1.00 with a broker you can think of it as days/weeks/months really doesnt matter long as you get the POINT!.....Maybe will tell you the trick to make it work someday soon! lol
  • #1,452
  • Edited 7:55am Feb 18, 2011 2:53am | Edited 7:55am
1. $1.00
2. $2.00
3. $4.00
4. $8.00
5. $16.00
6. $32.00
7. $64.00
8. $128.00
9. $256.00
10. $512.00
11. $1,024.00
12. $2,048.00
13. $4,096.00
14. $8,192.00
15. $16,384.00
16. $32,768.00
17. $65,536.00
18. $131,072.00
19. $262,144.00
20. $524,288.00
21. $1,048,576.00
22. $2,097,152.00
23. $4,194,304.00
24. $8,388,608.00
25. $16,777,216.00
26. $33,554,432.00
27. $67,108,864.00
28. $134,217,728.00
29. $268,435,456.00
30. $536,870,912.00
31. $1,073,741,824.00

Well theres $1.00 USD compounded 31 times by 100% of course your not going to make 100% profit on your balance everyday but can you make 1%-10%? HECK YEA!! .........ANY QUESTIONS?(JK) lol Heres the calculator so you can do your own math! lol
Attached File(s)
File Type: xls CompoundInterestCalculator.xls   1.4 MB | 652 downloads
  • #1,453
  • Edited 3:00am Feb 18, 2011 2:57am | Edited 3:00am
Hi Dredding82,

Haven't finished reading the whole thread yet, still on page 40 sumpthn',
but took my first trade today on M15 E/U and made a quick 30pips.
I didn't have much time, so just picked 30 as my TP, but could have made more if I had time to stay in front of the charts.

Just wanted to say thank-you. Already had all these indi's in my toolbox but, like you said, didn't know how to use them properly.

Just voted too, hope you get the 5stars soon. You definitely deserve it!
Will PM you later.

BTW, here's my trade earlier today. Entry a little late at red vertical line.

Regards,

Forexjpn
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  • #1,454
  • Edited 3:22am Feb 18, 2011 3:02am | Edited 3:22am
Quoting forexjpn
Hi Dredding82,

Haven't finished reading the whole thread yet, still on page 40 sumpthn',
but took my first trade today on M15 E/U and made a quick 30pips.
I didn't have much time, so just picked 30 as my TP, but could have made more if I had time to stay in front of the charts.

Just wanted to say thank-you. Already had all these indi's in my toolbox but, like you said, didn't know how to use them properly.

Just voted too, hope you get the 5stars soon. You definitely deserve it!
Will PM you later.

BTW, here's my trade earlier today. Entry...
GREAT TRADE! im in that one myself already took some profit and locked in for B/E! MAY THE PIPS BE WITH YOU...LOL...Star Wars is on here HAHAHA
  • #1,455
  • Feb 18, 2011 4:45am Feb 18, 2011 4:45am
Good post Dredd, have you read "Slight Edge" by Jeff Olson as he gives that exmaple in a story is his book.

A good read btw

ST

Quoting Dredding82
Ok since most are newbies here and dont really know how to make money i thought i would show people what happens when you compound your gains as i have said a few times!

"Whenever you decide to invest in something for the long term, you should always think ahead on what would be the best choice in the long run while having persistence to follow through with it. The scenario was that if you were given a choice to receive one million dollars in one month or a penny doubled every day for 30 days, which one would you choose? When I first...
" Dont wait for your boat to come in ..... swim out and meet it"
  • #1,456
  • Feb 18, 2011 5:16am Feb 18, 2011 5:16am
Hi again, I currently trade intrady using pa/pps but looking for another method to trade on longer t/fs.

This looks to have great potential so been running a few demo trades.

Took this off FiB R1 last nite (bit late getting in) for about 30 pips.

Paper traded the BUY this am as around the kids but dont think that qualified as stoch above 20 (8.30 SML). Obviously CT so not for everyone but given PP below felt happy with it.

Paper Traded the SELL off FIB1 again which worked well

More to come with practice

Thanks Dredd, will be looking at the dailys in due course, thanks for the education

ST
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" Dont wait for your boat to come in ..... swim out and meet it"
  • #1,457
  • Edited 7:46am Feb 18, 2011 7:01am | Edited 7:46am
Anyone else feel like trading with the TREND!? I did on this euro! Once you get the hang of my system....PIPS JUST FLOW YOUR WAY!

BTW....look at the MONKEY SWING!!! lol The green line at the bottom is the top of the "Buy Zone"...and the red at the top is the "Sell Zones"


So i guess the point is.....who ever told you NOT TO TRADE on friday or monday....THEY LIED! I always do.....
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  • #1,458
  • Feb 18, 2011 7:16am Feb 18, 2011 7:16am
Dredding82....Great education and a terrific system to boot.Once you see the big pix and then just enter with the trend,the pips just flows your way.
look at my chart ,just took longs on Euro and over 100pips and I am calling it a day and my weekend starts now...
Dredding your sharing of this system is very generous and easy to follow and I thank you for that
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Rumiguru FXEngineer
  • #1,459
  • Feb 18, 2011 7:17am Feb 18, 2011 7:17am
Do you trade off the small dots on the semafor?
  • #1,460
  • Feb 18, 2011 7:18am Feb 18, 2011 7:18am
Quoting rotunda
Do you trade off the small dots on the semafor?

READ THE THREAD..............Its in there...First pages..............
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