Price Action Trading with Indicators! The Freebie System | Page 115 | Forex Factory

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Price Action Trading with Indicators! The Freebie System

  • #2,281
  • May 12, 2011 10:09am May 12, 2011 10:09am
Quoting Dredding82
Great job guys/gals this week as most weeks! Here is a quick shot of the profit the EA has made as i am using a demo to test on the H1 to see if the trade enters are working ok....still have not finished the coding due to alot of other things i have going on. Hopefully i can find the bits of code i need to make it what i want so i can copy and paste it in the EA...but its doing its thing pretty good...its made around what i make a week hand trading the system....+1400 PIPS!

Hope Everyone keeps having a good week! MAKE THEM PIPS!


Dredding82...
Good job Dredding.. I'm not a big fan of EAs, probably due to all the horror stories that I have heard in relation to them, and since starting this thread I have come on in huge steps thanks to you (and to Paulus). So while I look forward to seeing what the EA can do I am growing more confident in my trading ability and hope to have more days like today..
Using your 'system' and following Paulus style I am up about 8% on my account today while risking 1% in all my trades. A great day for me I must admit but nowadays I am % positive more often. Still got lots to learn but heading in the right direction methinks.

Keep up the good work,
Balrog.
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  • #2,282
  • May 12, 2011 10:48am May 12, 2011 10:48am
some of this pms trades
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" Dont wait for your boat to come in ..... swim out and meet it"
  • #2,283
  • May 12, 2011 11:04am May 12, 2011 11:04am
Short Gold TP1 hit and stopped +2 Lot2

Was a bit late getting in as order would not execute for some reason, otherwise good CT trade

Firm rejection of $1500, and techncially still with trend if you look back at longer t/fs.
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" Dont wait for your boat to come in ..... swim out and meet it"
  • #2,284
  • May 12, 2011 12:04pm May 12, 2011 12:04pm
TP1 hit and around +25 on lot 2
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" Dont wait for your boat to come in ..... swim out and meet it"
  • #2,285
  • May 12, 2011 4:04pm May 12, 2011 4:04pm
One late freebie trade after London close for +11 pips. I missed the best moves so much for sleeping in....
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  • #2,286
  • May 12, 2011 4:39pm May 12, 2011 4:39pm
I've certainly learned the most from reading this thread and chatting with dred than any other system/indicator iv tried

Just gotta stick to the rules! Paulus method of determining trend is great, I'm trying to make it second nature for myself
  • #2,287
  • May 12, 2011 6:28pm May 12, 2011 6:28pm
Quoting HiArt
Although I use Metatrader platform, my broker is Smart Live and they are spread betting using MT4. This makes my life easier, as I am not buying or selling any sort of contract!

So, before I get in to a trade I look at where the exit point is going to be. Let's say this is 22 pips away. I will normally round this up to 25 pips. As I am going to be opening 2 trades my risk is 50 pips.

x * 50 = bank * 0.05 therefore x = bank * 0.05 / 50
e.g. bank = 1000, x = 1000 * 0.05 / 50 = 50 / 50 = £1.00

With SLM I have to round this to a multiple of 10p,...

Good method to use. I use the 20 pips per day method myself. I figure, if you can maintain the consistency, then you can just simply increase the lot sizes.
  • #2,288
  • May 12, 2011 6:32pm May 12, 2011 6:32pm
This one was good for 80 pips.
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  • #2,289
  • May 13, 2011 1:43am May 13, 2011 1:43am
Good for 50 pips...
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  • #2,290
  • May 13, 2011 2:48am May 13, 2011 2:48am
Nice London launch. I was on M5 the M15 looked like it was earlier set up.

Made 2:1/ 2% for day...
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  • #2,291
  • May 13, 2011 10:09am May 13, 2011 10:09am
Been a funny day today have had only 2 signals and so only 2 trades

AU was a short
UC was a long

Both closed for +5% so ROC is at 10% so far

On my 5min charts

EU down trending
AU same
GU same
UC Up trending

Cheers

P
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  • #2,292
  • May 13, 2011 11:16am May 13, 2011 11:16am
Hi Paulus,

I thought there was an entry on EU this morning, Can I ask why you didn't enter this one? (entry marked with red vertical line)

Also, do you enter a set up if its close to a news release?

Thanks.

Tritan

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Quoting Paulus
Been a funny day today have had only 2 signals and so only 2 trades

AU was a short
UC was a long

Both closed for +5% so ROC is at 10% so far

On my 5min charts

EU down trending
AU same
GU same
UC Up trending

Cheers

P
  • #2,293
  • May 13, 2011 1:16pm May 13, 2011 1:16pm
Hi Paulus,

Is that you are using different freebie signal alert?

My chart shows more signals


Thanks

FL


Quoting Paulus
Been a funny day today have had only 2 signals and so only 2 trades

AU was a short
UC was a long

Both closed for +5% so ROC is at 10% so far

On my 5min charts

EU down trending
AU same
GU same
UC Up trending

Cheers

P
  • #2,294
  • May 13, 2011 1:30pm May 13, 2011 1:30pm
Quoting tritan
Hi Paulus,

I thought there was an entry on EU this morning, Can I ask why you didn't enter this one? (entry marked with red vertical line)

Also, do you enter a set up if its close to a news release?

Thanks.

Tritan

Attachment
Hi Tritan

The pivots are used mainly for showing resistance and support areas,in other words if we are coming up to a pivot line we should not want to go long 'hoping' that it will break the pivot and continue.

rather if it is coming up to a pivot it breaks it as our signal is given in which case as long as we have had a series of HH and HL we can go long...

or...

If it breaks it and then comes down to it and then goes up again

The trade you have picked may have HH HL and the HA ind is showing the right colour........BUT........where is the support from the pivot ?

In the example you show there is no support for the long

On a long I need

Support from a pivot
HH HL
White HA

On a short I need

resistance from a pivot
LH LL
Red Ha

3 elements each time ..your signal show only 2

In fact because i dont use the stoch the entry for me would be 1 bar earlier at the point the HA goes white from red .. thats mid pivot way to dangerous for me no support under me and potential resistance a few pips above me

I need odds stacked in my favour and my 3 rules help with that

cheers

P
  • #2,295
  • May 13, 2011 1:38pm May 13, 2011 1:38pm
I am currently long EU from 1.4110

TP is 1.4151
SL is 1.4076

Risk reward is therefore 1.2 to 1 with potential profit of 6%

P
  • #2,296
  • May 13, 2011 2:08pm May 13, 2011 2:08pm
Quoting Paulus
Hi Tritan

The pivots are used mainly for showing resistance and support areas,in other words if we are coming up to a pivot line we should not want to go long 'hoping' that it will break the pivot and continue.
P
Damn, and there's me thinking it was only because you were sleeping and it was a good trade ha ha.

Thanks for the reply Paulus. Definitely given me some good advice there and i'll definitely be looking to include that third element in my trades going forward

Have a great weekend.

T
  • #2,297
  • May 13, 2011 2:37pm May 13, 2011 2:37pm
Here is what the EA has made this week in pips....all trades are open at this time but i am going to close them due to the market about to close for the weekend....will update this post in alil while with the pip count...but i do know its like 3 or 4 times what it was just 2 days ago when i posted the other profit pic from the EA
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  • #2,298
  • May 13, 2011 2:48pm May 13, 2011 2:48pm
Ok just added the pips up....$$$$$$$$$$$ 2789 PIPS! now thats one hell of a week....
  • #2,299
  • May 13, 2011 2:56pm May 13, 2011 2:56pm
Quoting Dredding82
Ok just added the pips up....$$$$$$$$$$$ 2789 PIPS! now thats one hell of a week....
C'mon Dredd, release it and stop teasing
  • #2,300
  • May 13, 2011 2:58pm May 13, 2011 2:58pm
Quoting stochman
C'mon Dredd, release it and stop teasing
Its not done.....but i am still testing the entry into trades and to make sure it can pick the "trend" right .....i still need to add a SL...TP...MM and maybe a few other things...but like i said since i dont code and everyone that does will not help me...it might take sometime till either i can figure out how to code it or find the code i need and want in another EA ...
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