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Price Action Trading with Indicators! The Freebie System

  • #2,101
  • May 2, 2011 9:16am May 2, 2011 9:16am
Quoting neil324
My pivot is just above yours, so decided it never failed at pivot. What was your target on that trade MS1 or S1.
I was modestly hoping for MS1 but it fell short and headed back up.. -2% on the trade..

Yeah, if the pivots are out on peoples charts you will miss out on some but I have found that you will also enter on some that others don't ( well, I'm comparing my trades to paulus ) and hopefully keep in the positive.
  • #2,102
  • May 2, 2011 9:32am May 2, 2011 9:32am
interesting...guess I should have held my long position...but oh well better safe than sorry...

Paul
No man is free who is not a master of himself. -P.M.-
  • #2,103
  • May 2, 2011 11:29am May 2, 2011 11:29am
Short GJ

135.54
TP 135.38
SL 135.65

Short EU

148.71
TP 148.150
SL 148.530
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: geppy.gif Size: 57 KB
  • #2,104
  • May 2, 2011 11:40am May 2, 2011 11:40am
Quoting neil324
Short GJ

135.54
TP 135.38
SL 135.65

Short EU

148.71
TP 148.150
SL 148.530
Currently shorting AU (missed the eu one)

1.0968
TP 1.0951 (which is about 2% on my account)or pivot at 1.09416
  • #2,105
  • May 2, 2011 11:57am May 2, 2011 11:57am
Quoting balrog
Currently shorting AU (missed the eu one)

1.0968
TP 1.0951 (which is about 2% on my account)or pivot at 1.09416
Stopped out on the EU.

Seen the AU, but felt like all eggs in one basket. As it turns out i would have been still in. Hmmm. Mental block.

GJ hit target.
  • #2,106
  • May 2, 2011 12:17pm May 2, 2011 12:17pm
Update

EU +12.5% +4%+5% -5%
AU- after posting entry and 8 hours +25%
GU -5% -5% -5% long from 1.6680
UC -5% -5%

Total so far +16.5%

lost of losers today ..GU and UC been a nightmare

P
  • #2,107
  • May 2, 2011 12:27pm May 2, 2011 12:27pm
Nice trade on the AU, i remembered you had a trade open when it finally went on a tear.
  • #2,108
  • May 2, 2011 1:01pm May 2, 2011 1:01pm
Quoting Paulus
Update

EU +12.5% +4%+5% -5%
AU- after posting entry and 8 hours +25%
GU -5% -5% -5% long from 1.6680
UC -5% -5%

Total so far +16.5%

lost of losers today ..GU and UC been a nightmare

P
Good going today Paulus...

Increased my account size 2% today and have a short trade still on the AU but I've brought the stop loss to BE as it's late in the day and I'm off. Hopefully tomorrow I won't lose it back again .
  • #2,109
  • May 2, 2011 1:11pm May 2, 2011 1:11pm
well done on today chaps, ive not traded today as enjoying the bank holiday but did anyone see the moves on on NYMEX, Brent and Gold.

Look at the Gold chart and notice the two big 3s under R1 at 00.25 and 17.30, interesting stuff eh

ST
" Dont wait for your boat to come in ..... swim out and meet it"
  • #2,110
  • May 2, 2011 3:03pm May 2, 2011 3:03pm
Ok I have to admit to being a little confused

Having read every post on this thread, thanks Dredd, I then wandered across to check out the 1-2-3 thread, I'm currently at page 6 on there.

My question is aimed at Paulus, my confusion has arisen due to the fact that on the 1-2-3 thread you appear to enter a trade 1 pip below or above swing number 2, yet when I look at your charts on this thread your entries appear to take place much earlier in the move with little or no consideration of the break of swing number 2.

My current thoughts are that you're probably combining the two methods and possibly entering a trade on the break of the previous candle high/low with the support of a pivot, thereby getting into the trade earlier with both greater risk & reward, but if you could just please clarify, as you don't have horizontal entry lines marked on your charts, your entry points and why I'd really appreciate it.

If anyone can help with this I'd appreciate your input
  • #2,111
  • May 2, 2011 5:50pm May 2, 2011 5:50pm
Dec 1, 2010 7:11pm

Paulus
Member

Member Since Dec 2007
2,060 Posts
Advanced entry
using the same principle here is an advanced way of entry..advanced being another word for riskier .. but maybe more production in pips

We wait until our 3 count has gone in..this is determined by

Being more than 1 candle from the 2 count
The low of the prospective 3 count is higher than the low of the 1 count

All above is normal with the 123 set up

So once our 3 count has gone in we draw a line along the highs of the candles as shown in the piccy below.When we get a candle that closes above the line ..not breaks it but closes above it we go long

In the case of the 1st example we get 5 extra pips as our TP will be the same .In the 2nd example we get 7 extra pips

On the 1hour trade today an extra 45 pips

Cheers

P
  • #2,112
  • May 2, 2011 7:33pm May 2, 2011 7:33pm
eu short
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: eur usd met take profit.gif Size: 28 KB
No man is free who is not a master of himself. -P.M.-
  • #2,113
  • May 3, 2011 1:40am May 3, 2011 1:40am
Quoting stochman
Ok I have to admit to being a little confused

Having read every post on this thread, thanks Dredd, I then wandered across to check out the 1-2-3 thread, I'm currently at page 6 on there.

My question is aimed at Paulus, my confusion has arisen due to the fact that on the 1-2-3 thread you appear to enter a trade 1 pip below or above swing number 2, yet when I look at your charts on this thread your entries appear to take place much earlier in the move with little or no consideration of the break of swing number 2.

My current thoughts...
Hi

I do not use any 123 methodology in this system at all..its stand alone

When I get a Dred signal I think Dred ..nothing else

If im using a 1min system using stoch and I get a 1min signal on that chart then I think nothing then that system...

hope that helps

P
  • #2,114
  • May 3, 2011 1:41am May 3, 2011 1:41am
Quoting stochman
Dec 1, 2010 7:11pm...
Hi

I hadnt made that connection

they are similar in there approach due to the fact of the HL for a long or LH for a short

But I do not mix the 2

Cheers

P
  • #2,115
  • Edited 4:13am May 3, 2011 1:59am | Edited 4:13am
A narrow range USDCAD trade, but taking this on demo for the practice.

Failed at mid-pivot
10 point stoploss, so 10 point initial target
run on trade target set to the support just above cam s1 pivot
http://screencast.com/t/F7qKtVxN

---edit ---

OK, it failed. I notice the nice "3" has since repainted. It was very speculative anyways, and I normally wait until London's opened before I get in to a trade. Further, the range was just too narrow.
http://screencast.com/t/F7qKtVxN
Attached Image (click to enlarge)
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  • #2,116
  • Edited 5:05am May 3, 2011 4:36am | Edited 5:05am
OK, the above failed, however it did go and get me all my pips back in a nice move.

However, I feel I got lucky as (2) was clearly a Lower High and therefore negated the pattern (?). Didn't notice this until I was marking the charts up.

I also feel I may have erred as I think I should have waited for the candle to close above and not break my entry point.
Attached Image (click to enlarge)
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  • #2,117
  • May 3, 2011 6:11am May 3, 2011 6:11am
hi Art

why do you not get any 2 semafors on your charts ?

thanks
  • #2,118
  • May 3, 2011 6:32am May 3, 2011 6:32am
Quoting HiArt
OK, the above failed, however it did go and get me all my pips back in a nice move.

However, I feel I got lucky as (2) was clearly a Lower High and therefore negated the pattern (?). Didn't notice this until I was marking the charts up.

I also feel I may have erred as I think I should have waited for the candle to close above and not break my entry point.
Yeah No2 negated the pattern but as far as I know as long as entry candle closed with the correct coloured HA you should be good to go otherwise
We are all One. Be present. Be the Observer
  • #2,119
  • Edited 8:21am May 3, 2011 8:02am | Edited 8:21am
Heres my attempt at a chart, sorry about lack of indys but im playing with settings atm.

Up arrow is HH
1st down arrow is LH under the HH
2nd down arrow is my entry candle but I was a bit slow and got in on the next one

both red candles (down arrows closed under the pivot 12834)

lot 1 hit tp for +20
lot 2 stop @ BE and still going but may get stopped out

I missed the BUY at S1 otherwise may have gone long there with HLs above S2 (LL)

If I have time later will repost with indys

ST
Attached Image (click to enlarge)
Click to Enlarge Name: dow030511.jpg Size: 82 KB
" Dont wait for your boat to come in ..... swim out and meet it"
  • #2,120
  • May 3, 2011 8:47am May 3, 2011 8:47am
Heres a Gold Trade using one of the templates on here, thanks guys.


Attached Image (click to enlarge)
Click to Enlarge Name: gold030511.gif Size: 28 KB
" Dont wait for your boat to come in ..... swim out and meet it"
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