Price Action Trading with Indicators! The Freebie System

They were designed specifically for forex ..I find them accurate

P

closed EU short +30..recovered my loss...

Closed my USD/JPY trade (chart posted earlier) for +35 on run on trade. Took 20 off earlier too so a total +55 on the trade.

So much for over thinking

trying the trend thing today made a boo boo on my 1st trade but ok since

Not using any other indicator simply looking at semaphore dots and using them as a guide looking at the following..I simply draw a rough line to identify current bias

Down trend

lower lo
Lower hi

Up trend

Higher hi
Higher lo

EU = shorts +21+55 and short from 1.4371
GU = - 23 ( booboo) short +29 looking for further shorts as above
GJ = +27+25 short from 1.3563
UC = no trades long bias

Paulus

charts

Hi Dredding, I had some trouble getting stopped out on wrong direction trades. Thanks for your help a couple of threads back. On the right track again. Currently 100 pips in for the day and still going strong.

just take this oil 5M long, from pivot to pivot made 47 pips, not take the other one after, nor the short before !

Could anyone send me Dredding's pivot indicators (and any others he sent) who received them from him? I have PM'd him twice but I think he is away for a while. I'm not asking for them to be posted on the forum (to respect his wishes) but maybe you could PM me with them... Thanks!

Just click on the paper clip on the right side of the page number and you will have all the charts and indicators who was posted here from the begining of the thread !

Thanks, Klaxon!
Dredding uses his own pivot indicator and has not shared on a post in the thread. Instead, he asked that anyone who wanted it to PM him and he would sent it, which I have done a couple of times with no response yet. At least this is what I understand... I can use the fib pivots and other pivots... I just wanted to see what he was using...

up on trades

I will be giving all my trades a % return figure rather than pips as it makse more sense

ie a loss of 40 pips may seem allot but will only be 5% of the account its the number and type of contracts traded that will reduce

Ie larger the stop less the contracts to qualify for 5% and visa versa

therefore if I place a trade and my stop is 5% and is 10 pips and the trade makes 30 pips I have made 15% of account on that 1 trade

EU +10%+30%-5%+6% = 41%
GU -5%+10%+5% = +10% and long from 1.6350
GJ +5%+3%-5%+15% = +8% and short from 1.3609
UC +8% and short from 0.9628

Total so far = +59%

Just take another one oil 5M long from around pivot to around pivot with trend on my side for 23 pips !

Thanks you Paulus for you feedback and congratulation for your success, you seem master this great system without any problems !

Just compare with the templates he posted on the first post, and you will get it, all the indies are in the paper clip !

Hey rossobonks, when i tried oil trading some years ago as i remember the open hour was 06:15 gmt to 18:15 gmt, is it still the same hour today ?

But i remember also the best liquidity was when US session open up till 18:15gmt, is it your favorite trading hours rossobonks ?

Hi Paulus,

Many thanks for all your informative Posts...giving a lot of us hope!!

Not being picky, but re your 'definition' of trend (below)...does it match up with the trendlines drawn on your Charts a few posts (Post 1806) later? Sorry if I've got it wrong!!

Would love to try the Camirilla Indy you are using...there are a few on FF; could you please PM me/Post. Thanks

Also thanks to Dredding82 for the thread.

Still reading thru the thread..hope to start demo trading (and posting) next week.

Cheers,

Freddi


[quote=Paulus;
Not using any other indicator simply looking at semaphore dots and using them as a guide looking at the following..I simply draw a rough line to identify current bias

[U]Down trend[/u]

lower lo
Lower hi

Up trend

Higher hi
Higher lo

well its a learning curve for all of us we have to settle into a way of trading this we feel comfortable with hence the experimentation

from a personal view if Im trading off the 5min i want to trade the 5min trend

a 1 hour up trend with big waves will have to have 5min smaller waves in a 5 time time frame

To look at the 1 hour and say long and then trade a long signal on the 5min when it could well be in a series of down waves until it gets to the 1hour trend line...and hence you lose

thats basic EW throry waves within waves

If you look at the piccy below you have a 60min up trend and within each up trend you have a series of 5min up trends and 5 min down trends

hence I look at the 5min trend and trade off the 5min chart

just a personal view

P

Hi

i dont draw perfect trend lines more using the zz draw my lower lo lower hi etc

P

Closed GU for +0%
Closed GJ for -5%
Closed UC for +3%

Cheers
P

This is one of the none of the before posts that I will make. but for the last 35 days I have, with this system, increased my accounts by 55%. In the two years I have worked with forex, this never has happened. I feel very comfortable with the manual system and I do use the semifor. I also use a trend indicator from another forum by somebody called law girl. It is precise with the direction and sufficiently accurate that I can count on an entry to go the direction indicated. If not the 3 dot will tell me that another 3 dot will have to appear in the opposite direction. If I go into draw down, then so be it, it will eventually work out. the pivot points and s/r levels are beneficial in determining what can be expected. But what I see as the true benefit is the simplicity of the system, if used in demo or live until a certain comfort is attained. If working with the system until an understanding is developed then the trading is easy. I am sure that my results would be much higher if I did not have to work with an American broker, nor for safety's sake use low lot sizes for safety. that is about to change.

All of you people asking questions about the system, forget about it, the only way is to study what is available, and it is in the first few posts, and find your comfort zone. There is no system that is adequate for everybody. Take Dredding's system and make it feel like your own. At that point you will start having results of what you want. It's what I did but I don't trade exactly as has been described in all the thread. It's what you have understood not somebody's formula.

Currently I am on 3 brokers with mt5 and mt4 platforms 8 pairs, draw downs are about2%, nothing to get upset over. by morning they will probably get into profit, at this moment they are moving in that direction. I do not use stop loss, even though I do not recommend it. The 3 dot has at times an uncanny way of moving when a higher or lower pa is recorded. If you do not have patience or are easily exited, use stop losses.

Well, this is enough for now, see you in about another 55%+.