Price Action Trading with Indicators! The Freebie System | Page 100 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Freebie 1 min trading method 1,227 replies

Naked Trading Using Price Action (No Indicators) 32 replies

Pure Price Action Trading - NO lines or indicators 49 replies

Help adding a filter to the Freebie Indicator 3 replies

EUR/USD Trading Price Action System 2 replies

Attachments: Price Action Trading with Indicators! The Freebie System
Exit Attachments

Price Action Trading with Indicators! The Freebie System

  • #1,981
  • Apr 25, 2011 10:07am Apr 25, 2011 10:07am
Quoting Paulus
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
GJ hit TP +11%
GU failed and hit SL -5%

EU +12%-5%
GU +15%+5%-5%
GJ +6% +11%
UC +2%

Return on account = 46%
  • #1,982
  • Apr 25, 2011 10:09am Apr 25, 2011 10:09am
Quoting Paulus
Soon as I get a red HA on this GU chart i will be short

P
Hi Paulus

HA = ??
What is HA?
Heikin ashi??

By the way, I really appreciate your posts.
I notice you are now posting in this thread and I will read the whole thread to catch up, but I am guessing you are still faithful to the 1-2-3 set up?

thanks!

PGPB
  • #1,983
  • Apr 25, 2011 10:19am Apr 25, 2011 10:19am
Hi

yes HA is heikin ashi

Red and white bars at bottom of chart are HA bars

yes like 123 but this gets me in earlier and I can easily see the SL and where the TP is which is often 2 -3 times risk

Thanks again to dred for putting it all together very very nice system ..possibly 1 of the best on FF
  • #1,984
  • Apr 25, 2011 10:24am Apr 25, 2011 10:24am
opened several trades now

EU short 1.4544 tp 1.4530
GU short ( Again) 1.6466 tp 1.6447
GJ short 134.87 tp 134.67
UC long 0.9557 tp 0.9568

If all fail -20% but still up healthy on the day

P
  • #1,985
  • Apr 25, 2011 12:28pm Apr 25, 2011 12:28pm
this is a sweet way to trade scored 2% today on this eu short
Attached Image (click to enlarge)
Click to Enlarge Name: 2% mon.gif Size: 21 KB
  • #1,986
  • Edited 1:00pm Apr 25, 2011 12:37pm | Edited 1:00pm
trying this out after ny lunch see if i get a puch up to the pivot...

out with +1 too slow this monday
Attached Image (click to enlarge)
Click to Enlarge Name: gu long mon.gif Size: 24 KB
  • #1,987
  • Apr 25, 2011 12:53pm Apr 25, 2011 12:53pm
Quoting Paulus
opened several trades now

EU short 1.4544 tp 1.4530
GU short ( Again) 1.6466 tp 1.6447
GJ short 134.87 tp 134.67
UC long 0.9557 tp 0.9568

If all fail -20% but still up healthy on the day

P
I am learning so much just by following your trades! I have heard it again and again to avoid overtrading, but you take trade after trade, even on holidays, and with incredible success! I am curious about your thoughts on the subject... thanks.
  • #1,988
  • Apr 25, 2011 1:08pm Apr 25, 2011 1:08pm
Quoting balrog
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.
Not sure if this will help..but it might..
If you adjust the camerilla settings GMT Shift Sunday Setting to 20.0 then it seems to match up exactly to Paulus' pivot settings shown on his charts today..

My charts have 22.00 gmt - 00.00 candles displaying Sunday..
So I experimented thinking that it might be the number of candles etc

I am still not sure exactly yet why the figure of shifting 20.0 works - which is a tad annoying..
But it does on my demo IBFX charts
Worth a try though..
  • #1,989
  • Apr 25, 2011 1:16pm Apr 25, 2011 1:16pm
Quoting gdb
Not sure if this will help..but it might..
If you adjust the camerilla settings GMT Shift Sunday Setting to 20.0 then it seems to match up exactly to Paulus' pivot settings shown on his charts today..

My charts have 22.00 gmt - 00.00 candles displaying Sunday..
So I experimented thinking that it might be the number of candles etc

I am still not sure exactly yet why the figure of shifting 20.0 works - which is a tad annoying..
But it does on my demo IBFX charts
Worth a try though..
Thanks! I was just trying to get that to work, and it did. Although setting mine to 20 or 22 appears to make no difference -- they both match Paulus. I have IBFX as well.
  • #1,990
  • Apr 25, 2011 2:38pm Apr 25, 2011 2:38pm
Quoting Brapp
I am learning so much just by following your trades! I have heard it again and again to avoid over trading, but you take trade after trade, even on holidays, and with incredible success! I am curious about your thoughts on the subject... thanks.
I have had a series of losers today so holiday volatility did catch up on me
In reality with the Uk market shut down its a risky day to trade as allot of signals will not punch through the pivots with the trend..early trend signals will but the follow through wont be there hence my "later in the trend" trades

I only traded today due to the increase in account over the last few weeks

An update on my progress

EU +12%-5%-5%-5%
GU +15%+5%-5%-5% long from 1.6502
GJ +6% +11%-5%+5%
UC +2% +5%-5% short from 0.9540

Return on account = +26%

P
  • #1,991
  • Apr 25, 2011 7:21pm Apr 25, 2011 7:21pm
paulus...Thanks for the TM spreadsheet.
I found another at FF. Here's the link..Hope dredding82 doesn't mind, but it is about MM.
This visually shows risk by dragging SL and then you can open order with associated script ..post #60
http://www.forexfactory.com/showthread.php?t=48623&page=4

The GU trade you posted which lost 5%. The trade was against the 3 wave. Do you ignore the 3 and just use the new LH ?
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-04-26_gupaulus.png Size: 61 KB
We all see the same dream, just from different viewpoints
  • #1,992
  • Apr 25, 2011 10:52pm Apr 25, 2011 10:52pm
Hoping someone can comment on this current live trade.
I took the short signal as indicated and the trade very nearly hit the target but then rebounded to give a long signal. I was thinking that this could be a possible exit--even though I much prefer just to leave the trade alone as Paulus suggests.
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-04-26_1333gu_poss_exitxx.png Size: 145 KB
We are all One. Be present. Be the Observer
  • #1,993
  • Apr 26, 2011 1:29am Apr 26, 2011 1:29am
Quoting Ironbark
paulus...Thanks for the TM spreadsheet.
I found another at FF. Here's the link..Hope dredding82 doesn't mind, but it is about MM.
This visually shows risk by dragging SL and then you can open order with associated script ..post #60
http://www.forexfactory.com/showthread.php?t=48623&page=4

The GU trade you posted which lost 5%. The trade was against the 3 wave. Do you ignore the 3 and just use the new LH ?

Thanks for the EA..

i dont mix systems if I can help it esp if there as clean cut as this and 123

I think the main cause of failure is just lack of volatility at that time of day..signals in the early part of the trend were ok if the trend was any longer there wasnt enough interest to get it through last lows or highs etc

just my opinion

P
  • #1,994
  • Apr 26, 2011 1:36am Apr 26, 2011 1:36am
Quoting Iamfx
Hoping someone can comment on this current live trade.
I took the short signal as indicated and the trade very nearly hit the target but then rebounded to give a long signal. I was thinking that this could be a possible exit--even though I much prefer just to leave the trade alone as Paulus suggests.

Once in a trade let it hit TP or SL as you will often get loads of reversal signals

The only way your going to get a good risk return is to let it run to TP
other wise you will be closing out a good trade for 3 pips and losing 20 on the failed reversal

You get loads of reversal signals this system is all about support and resistance around key levels...pivots... trading in the direction of the trend and using HA as the final trigger to get in

just my opinion but leave reversal well alone

P
  • #1,995
  • Apr 26, 2011 1:39am Apr 26, 2011 1:39am
Quoting Iamfx
Hoping someone can comment on this current live trade.
I took the short signal as indicated and the trade very nearly hit the target but then rebounded to give a long signal. I was thinking that this could be a possible exit--even though I much prefer just to leave the trade alone as Paulus suggests.

This trade hit its TP RR was around 2;1 thats a 10% gain on account

try not to make things complicated for your self

2-3 rules does it on this system

P
  • #1,996
  • Apr 26, 2011 2:47am Apr 26, 2011 2:47am
Quoting Paulus
This trade hit its TP RR was around 2;1 thats a 10% gain on account

try not to make things complicated for your self

2-3 rules does it on this system

P
OK thanks Paulus
Yeah --it turned out well- so I may take your advice
We are all One. Be present. Be the Observer
  • #1,997
  • Apr 26, 2011 2:56am Apr 26, 2011 2:56am
Im long EU from 1.4574 TP is 1.4612

had a short on UC for +3%

cheers

P
Attached Image(s) (click to enlarge)
Click to Enlarge Name: d23.gif Size: 16 KB
Click to Enlarge Name: d24.gif Size: 16 KB
  • #1,998
  • Apr 26, 2011 3:05am Apr 26, 2011 3:05am
Quoting Ironbark
paulus...Thanks for the TM spreadsheet.
I found another at FF. Here's the link..Hope dredding82 doesn't mind, but it is about MM.
This visually shows risk by dragging SL and then you can open order with associated script ..post #60
http://www.forexfactory.com/showthread.php?t=48623&page=4

The GU trade you posted which lost 5%. The trade was against the 3 wave. Do you ignore the 3 and just use the new LH ?
Good EA.. something which I was looking for. Will try it out today.
  • #1,999
  • Apr 26, 2011 3:16am Apr 26, 2011 3:16am
Quoting Paulus
Once in a trade let it hit TP or SL as you will often get loads of reversal signals

The only way your going to get a good risk return is to let it run to TP
other wise you will be closing out a good trade for 3 pips and losing 20 on the failed reversal

You get loads of reversal signals this system is all about support and resistance around key levels...pivots... trading in the direction of the trend and using HA as the final trigger to get in

just my opinion but leave reversal well alone

P
Paulus,

When you trade the 5m TF using this system, is your SL placed behind the most recent Semafor (a "3" or a "2"), and you gauge the R:R on offer by looking at that pip risk (entry level determined by FSA signal/price action) in relation to the next pivot level. For example, if the price action prints a 3 semafor at the daily pivot, then if the entry involves 20-pips of risk and there is 40-pips of potential reward between entry and the next pivot (R1 or S1 depending on long/short) you are happy with this R:R relationship. After that, it either hits your SL or your TP, is that fair to say?
  • #2,000
  • Apr 26, 2011 7:37am Apr 26, 2011 7:37am
Quoting FreddieTradr
Paulus,

When you trade the 5m TF using this system, is your SL placed behind the most recent Semafor (a "3" or a "2"), and you gauge the R:R on offer by looking at that pip risk (entry level determined by FSA signal/price action) in relation to the next pivot level. For example, if the price action prints a 3 semafor at the daily pivot, then if the entry involves 20-pips of risk and there is 40-pips of potential reward between entry and the next pivot (R1 or S1 depending on long/short) you are happy with this R:R relationship. After that, it...
1pip below semafor for longs 1 pip above for shorts..the rest is correct I do not move my stop I do not use a sliding stop..if we have picked direction right by means of HH HL etc then our 1 pip below recent swing hi lo should be safe..

P
26 traders viewing now