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Price Action Trading with Indicators! The Freebie System

  • #2,001
  • Apr 26, 2011 7:48am Apr 26, 2011 7:48am
Quoting Paulus

Im long EU from 1.4574 TP is 1.4612
had a short on UC for +3%

cheers

P
Update

EU +7.5%-5%
GU +5% short from 1.6470
GJ -5% short from 1.3456
UC +3%-5%+3% short from 0.9523

ROC - +3.5%

P
  • #2,002
  • Edited 8:05am Apr 26, 2011 7:54am | Edited 8:05am
chart attached to show last nites trade, hopefully you can see trade with these colours

03.56 GMT +1
BUY 123.05 (HLs above S1)
SL 122.65 under S1
TP 123.60 under PP (123.65)



ST

Attached Image (click to enlarge)
Click to Enlarge Name: brentsb260411.jpg Size: 96 KB
" Dont wait for your boat to come in ..... swim out and meet it"
  • #2,003
  • Apr 26, 2011 9:19am Apr 26, 2011 9:19am
Attached is a screenshot of my template (GBPUSD) taken at 10:15am NY time
I am using Alpari UK I have the Camerill pivot indi, set to GMT offset = zero
Can anyone tell me if this is correct?
And since I am asking questions here.....what do the 3 and the 2 and the 1 mean on the semaphor indi?

thx!

PGPB
Attached Image
  • #2,004
  • Apr 26, 2011 10:35am Apr 26, 2011 10:35am
Well, I don't want to open up a can of worms here, but I've been reading through this thread skipping the odd post but can't see too much on the time settings.

And seeing as the pivots are important to this system, I would imagine the time settings are important too.

I'm using a different pivot indi to you, but it has a timeshift from GMT which when I set to 0.... it has GBPUSD pivot as 1.6504, like yours.

However, I also use Alpari UK, and their server time is 2 hrs ahead of GMT (1 hour ahead of current DST), so I actually put a timeshift of 2 in. It moves the pivot down a pip but on other days I imagine it could have a larger effect...

Can't help with the semafor.
  • #2,005
  • Apr 26, 2011 10:59am Apr 26, 2011 10:59am
Quoting Pips Queak
Well, I don't want to open up a can of worms here, but I've been reading through this thread skipping the odd post but can't see too much on the time settings.

And seeing as the pivots are important to this system, I would imagine the time settings are important too.

I'm using a different pivot indi to you, but it has a timeshift from GMT which when I set to 0.... it has GBPUSD pivot as 1.6504, like yours.

However, I also use Alpari UK, and their server time is 2 hrs ahead of GMT (1 hour ahead of current DST), so I actually put a timeshift...
Hey Pips Queak

Can you post the pivot indi that you are using?
I would like to experiment with a few.

I am experimenting with this one (attached)

PGPB
Attached File(s)
File Type: ex4 xPivotMultiday_v1.31.ex4   30 KB | 432 downloads
  • #2,006
  • Apr 26, 2011 11:12am Apr 26, 2011 11:12am
Sure, I robbed it from the THV thread a few years back. Its the most customisable one I've found ...
Attached File(s)
File Type: ex4 THV3 SDX-TzPivots_v4.ex4   27 KB | 602 downloads
  • #2,007
  • Apr 26, 2011 12:29pm Apr 26, 2011 12:29pm
Quoting Pips Queak
Sure, I robbed it from the THV thread a few years back. Its the most customisable one I've found ...

Thanks.....so for Alpari UK is this how you have the time setting?
(see attached)

PGPB

By the way, my understanding of this system is as follows

Zig-zag indi tells you which way price *has* been moving, it hits a pivot/R/S line stalls, and then the HA indi turns the other way, stochs (or any other oscilator) turn the other way, so you trade the alternate way.

Is this a simplistic understanding of this system?

PGPB
Attached Image
  • #2,008
  • Apr 26, 2011 1:59pm Apr 26, 2011 1:59pm
Paulus,

Just reviewing some questions and to confirm your not using the #1 semafors only the 2's and 3's at a pivot level or is a #1 ok to use also?

Thank you..
  • #2,009
  • Apr 26, 2011 3:43pm Apr 26, 2011 3:43pm
Quoting brettM
Paulus,

Just reviewing some questions and to confirm your not using the #1 semafors only the 2's and 3's at a pivot level or is a #1 ok to use also?

Thank you..

Hi

Yes 1,2 and 3 are being used

P
  • #2,010
  • Apr 27, 2011 8:08am Apr 27, 2011 8:08am
Quoting pgpb
Thanks.....so for Alpari UK is this how you have the time setting?
(see attached)

PGPB

By the way, my understanding of this system is as follows

Zig-zag indi tells you which way price *has* been moving, it hits a pivot/R/S line stalls, and then the HA indi turns the other way, stochs (or any other oscilator) turn the other way, so you trade the alternate way.

Is this a simplistic understanding of this system?

PGPB
This pdf might be of help in your settings of your TzPivots indicator.. or else it may just confuse
Attached File(s)
File Type: pdf TzPivotsD.pdf   39 KB | 1,059 downloads
  • #2,011
  • Apr 27, 2011 11:38am Apr 27, 2011 11:38am
The key to the pivots is not how they're calculated, or what number to put in to the input box, but rather what time do you want to start your calcs from.

There's different opinions all over the web, let alone FF.

For GBP swaps, it seems GMT is the best bet. And for USD swaps, 5.00pmEST which is GMT -2. So you get different start times depending on the swap.

I didn't think it made too much of a difference to the PP placement, but the PP for USDCHF today moved 40 pips depending on whether you set it for GMT or EST.

Confused? Me too.

Being a Brit, I think I'll stick to GMT.
  • #2,012
  • Apr 27, 2011 3:46pm Apr 27, 2011 3:46pm
Correct me if i'm wrong but i thought the last close of the New York session was the mostly used settings for pivots.

I use this to check mine.

http://www.actionforex.com/markets/pivot-points/standard-pivot-points-2010040848154/
  • #2,013
  • Apr 28, 2011 10:06am Apr 28, 2011 10:06am
Paulus, I sure was encouraged (and taught) by your posts! Please come back!
  • #2,014
  • Apr 28, 2011 11:34am Apr 28, 2011 11:34am
g u entry at 1.66530
stop at 1.66680
tp is last low plum semaphor
Attached Image
No man is free who is not a master of himself. -P.M.-
  • #2,015
  • Apr 28, 2011 11:36am Apr 28, 2011 11:36am
here is the trade after take profit met
Attached Image (click to enlarge)
Click to Enlarge Name: g u after take profit.gif Size: 29 KB
No man is free who is not a master of himself. -P.M.-
  • #2,016
  • Apr 28, 2011 12:02pm Apr 28, 2011 12:02pm
Nice trade pmullin. And thanks for the before and after. always prefer those ones

Quoting pmullin86
here is the trade after take profit met
  • #2,017
  • Apr 28, 2011 12:32pm Apr 28, 2011 12:32pm
Quoting Brapp
Paulus, I sure was encouraged (and taught) by your posts! Please come back!
Up 32 % yest and have been trading today

Replace GJ with AU as i couldnt deal with the spread being so large

P
  • #2,018
  • Apr 28, 2011 12:36pm Apr 28, 2011 12:36pm
up 14% today

Lots of trades went to mid pivot area with good pips but then ran out of steam and collasped and hit Sl

Not suprising really last day before 4 day break low vol no guts to push it further

Long from 0.9508 on UC TP is 0.9526 SL is 0.9494

P
  • #2,019
  • Edited 10:06pm Apr 28, 2011 9:30pm | Edited 10:06pm
WOW....was just checkin on the thread to see how everyone is doing...which i see GREAT! but guess what? THE MODS will not let me see the threads i have started anymore(Had to search for my thread)! and i maybe get 1 email for every 10 posts made to this thread! LMAO! SO WHAT DOES THAT TELL YOU ABOUT THIS SITE? THEY DONT WANT YOU TO MAKE MONEY! Look how many people have never made profits month after month that are now starting to MAKE PROFIT! and they wont even let me keep up with people to help them with MM or other parts of trading they might not have mastered yet!

Anyways guys....Keep up the good trading! double,triple....etc your accounts and get back what the brokers have stole from you x millions and billions MORE(Paulus& Others)!!! If your still not used to the system or how to use it keep trying on demo till you get it..but i cant see anyone not getting it after a month if not a few weeks! Hopefully soon i can start posting again once i get my projects finished up(Trying to learn to code & building a house for a friend).

(Sorry MNFX, had to use you as your the first one i seen on the thread that had a thread you started)
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  • #2,020
  • Apr 29, 2011 5:29am Apr 29, 2011 5:29am
USDCAD m15

H4 and D1 - Downtrend

Failed at fib and pull the trigger.

Used 1:1 risk reward ratio.

Great!!!!!

Thanks D!!
Attached Image (click to enlarge)
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