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Price Action Trading with Indicators! The Freebie System

  • #1,961
  • Apr 22, 2011 5:20am Apr 22, 2011 5:20am
Quoting tritan
Hi Paulus, hope you dont mind me re-posting. Just thought you might have missed this one seeing as you're busy and may not get to read all the posts. If you'd rather not I understand No more re-posts
Sure here you go

Sorry have my email and pvt always off

P
Attached File(s)
File Type: tpl dred cam.tpl   9 KB | 668 downloads
  • #1,962
  • Apr 22, 2011 5:24am Apr 22, 2011 5:24am
Quoting Paulus
Sure here you go

Sorry have my email and pvt always off

P
Cheers Paulus. Appreciate it
  • #1,963
  • Apr 22, 2011 6:00am Apr 22, 2011 6:00am
update

The pivot points are widely spaced this morning due to the price action yesterday...the lack of vol with the holidays today in the UK make pre US action slow and mid pivot

That saying I have had 2 trades

EU -5%+5% and short from 1.4559

nothing else has set up

cheers

P
  • #1,964
  • Apr 22, 2011 6:29am Apr 22, 2011 6:29am
EU trades

1st

Clearly a series of HL and HH
Long on white HA and above pivot
To win this needed to make a HH than the H at 3
It didnt so -5%

2nd
We made a L at 3 this was lower than the last low at A so this wasnt a pull back in an up trend
We then made a LH at B
take short refusal of Pivot red Ha
+5%

3rd

Didnt make a lower low at BUT did make a LH at
Took the short didnt like the L not making a LL but lack of volatilty decided to take it
Red ha and broken down through Pivot

For this to win we need to break the low at C to create a LL and break the Low at 3 to breal low of London session

All in all we have an edge and have stacked the odds in our favour 51% against 49%

IE on the 5min we have a down bias as opposed to an up bias

Worth the risk of 5% and will have to put on Mid pivot points for TP due to wide pivot points calculated on yest price action
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  • #1,965
  • Edited 6:52am Apr 22, 2011 6:40am | Edited 6:52am
So let me ask you this, I understand what it is your doing here or at least I believe I do to an extent but I'm curious as to why you didnt enter a long position at the candle after the one you have labeled with an A. It seems there is a test and fail at the pivot...semaphors clearly indicate a system of higher highs and lows and at the bar after the one labeled A there is a change of color of the haiken ashi to white if I'm seeing this correctly...so what kept you out of that...or was it because the price hadn't broken that last plum colored high to the left of the chart...thanks


Paul
No man is free who is not a master of himself. -P.M.-
  • #1,966
  • Apr 22, 2011 7:31am Apr 22, 2011 7:31am
Quoting pmullin86
So let me ask you this, I understand what it is your doing here or at least I believe I do to an extent but I'm curious as to why you didnt enter a long position at the candle after the one you have labeled with an A. It seems there is a test and fail at the pivot...semaphors clearly indicate a system of higher highs and lows and at the bar after the one labeled A there is a change of color of the haiken ashi to white if I'm seeing this correctly...so what kept you out of that...or was it because the price hadn't broken that last plum colored high...

I'll let Paulus answer for himself but I think that was before he starts his trading day. He mentioned sometime back that he starts at 8AM GMT. It's one that I would have been interested in if I was trading today.

Paulus, one thing I do notice is that my pivot points don't exactly match what you have on your charts even with the timezone settings changed on my pivot indicator. I'm presuming this may be due to the fact that we use different brokers?
  • #1,967
  • Apr 22, 2011 9:49am Apr 22, 2011 9:49am
Quoting pmullin86
So let me ask you this, I understand what it is your doing here or at least I believe I do to an extent but I'm curious as to why you didnt enter a long position at the candle after the one you have labeled with an A. It seems there is a test and fail at the pivot...semaphors clearly indicate a system of higher highs and lows and at the bar after the one labeled A there is a change of color of the haiken ashi to white if I'm seeing this correctly...so what kept you out of that...or was it because the price hadn't broken that last plum colored high...

Hi Yes your correct

I start my trading at 8am uk time which is the red vertical line

P
  • #1,968
  • Apr 22, 2011 9:51am Apr 22, 2011 9:51am
Quoting balrog
I'll let Paulus answer for himself but I think that was before he starts his trading day. He mentioned sometime back that he starts at 8AM GMT. It's one that I would have been interested in if I was trading today.

Paulus, one thing I do notice is that my pivot points don't exactly match what you have on your charts even with the timezone settings changed on my pivot indicator. I'm presuming this may be due to the fact that we use different brokers?

Correct my broker is 2 hours ahead of my actual time so 8am on my PC is 10am on my chart...hence I have to set my Cam ind to -2 GMT to get new cam lines at midnight PC time

P
  • #1,969
  • Apr 22, 2011 10:07am Apr 22, 2011 10:07am
Quoting Paulus
Correct my broker is 2 hours ahead of my actual time so 8am on my PC is 10am on my chart...hence I have to set my Cam ind to -2 GMT to get new cam lines at midnight PC time

P
Ahh ok.. I was just wondering. My broker is 1hr ahead of PC time so I tried -2/-1/0/1/2 but pivots still didn't match up with yours.
  • #1,970
  • Apr 22, 2011 10:27am Apr 22, 2011 10:27am
Quoting Paulus
update

EU -5%+5% and short from 1.4559

nothing else has set up

cheers

P
EU -5%+5% and still short from 1.4559 currently up 6.3%

Also short GJ from 135.19 currently up around 2.5%

P
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  • #1,971
  • Apr 22, 2011 10:29am Apr 22, 2011 10:29am
EU signal looking better now

currently up 10% TP is M2 line

P
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  • #1,972
  • Apr 22, 2011 12:10pm Apr 22, 2011 12:10pm
Quoting Paulus
EU -5%+5% and still short from 1.4559 currently up 6.3%

Also short GJ from 135.19 currently up around 2.5%

P

Closing EU as off down to the south coast +10%

so

EU -5%+5%+10
GJ -5%

Total return on account +5%

which is cool considering

P
  • #1,973
  • Apr 22, 2011 1:24pm Apr 22, 2011 1:24pm
Paulus,

Thanks for your posts and especially the charts and commentary...really helpful, and I've learned a lot. I plan to go live trading after Easter, risking only 1% per trade to start with.

Have a great weekend,

Freddi

Quoting Paulus
Closing EU as off down to the south coast +10%

so

EU -5%+5%+10
GJ -5%

Total return on account +5%

which is cool considering

P
  • #1,974
  • Apr 22, 2011 2:50pm Apr 22, 2011 2:50pm
Quoting Paulus
Closing EU as off down to the south coast +10%

so

EU -5%+5%+10
GJ -5%

Total return on account +5%

which is cool considering

P
  • #1,975
  • Apr 24, 2011 7:22pm Apr 24, 2011 7:22pm
@ Paulus,

Would you mind posting your lot size calculator or link to, based on SL and % risk.
Do you use a pending order to enable precise lot size?, As market order may change your lot sizing due to slippage etc
We all see the same dream, just from different viewpoints
  • #1,976
  • Apr 25, 2011 8:29am Apr 25, 2011 8:29am
Quoting Ironbark
@ Paulus,

Would you mind posting your lot size calculator or link to, based on SL and % risk.
Do you use a pending order to enable precise lot size?, As market order may change your lot sizing due to slippage etc

Hi

I simpley take the current actual account balance and x 5%

I do this when waiting for a signal

I use a spread betting company to trade with not a forex broker so I trade in £/per and each swap is the same..I only use MT4 for my signals as the broker software is quite basic

Ie I can trade £100 per pip on EU as simply as GU and GJ without copmplex
calculations..spread is very reasonable

You do get a slight slip as you say but its swings and round abouts

This may help you though their good risk calculators

P
Attached File(s)
File Type: xls Money Management Calculator.xls   37 KB | 629 downloads
File Type: xls Risk Calculation.xls   27 KB | 482 downloads
  • #1,977
  • Apr 25, 2011 9:25am Apr 25, 2011 9:25am
update

EU +12%-5%
GU +15%+5%
GJ +6% short from 135.18 need 134.94
UC +2% ( bad risk trade only took as was up well on account)+5

Return on account = 40%

P
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  • #1,978
  • Apr 25, 2011 9:30am Apr 25, 2011 9:30am
GJ trade
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  • #1,979
  • Apr 25, 2011 9:50am Apr 25, 2011 9:50am
Soon as I get a red HA on this GU chart i will be short

Every thing else looks good we have stacked the odds in our favour if it fails it fails risk 5% for potential 5-15%..

We have an edge atm

P
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  • #1,980
  • Apr 25, 2011 9:57am Apr 25, 2011 9:57am
Quoting Paulus
Soon as I get a red HA on this GU chart i will be short

Every thing else looks good we have stacked the odds in our favour if it fails it fails risk 5% for potential 5-15%..

We have an edge atm

P
Short now
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