Price Action Trading with Indicators! The Freebie System | Page 128 | Forex Factory

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Price Action Trading with Indicators! The Freebie System

  • #2,541
  • May 24, 2011 8:16pm May 24, 2011 8:16pm
HHs being formed, possible breakout or will R2 hold?

ST

Quoting balrog
Thanks Dredding.. I kinda moved towards 5min as it suited my style and I felt comfortable with it but I had mentioned sometime back in this thread that I would like to gravitate to one of the higher timeframes (after you pointing out some trades on the 1hr charts).. Maybe time for you to introduce the PRO way Dredding
" Dont wait for your boat to come in ..... swim out and meet it"
  • #2,542
  • May 24, 2011 8:21pm May 24, 2011 8:21pm
Quoting speedtrip
HHs being formed, possible breakout or will R2 hold?

ST
"The Trend Is Your Friend" so trade with the trend but if your atleast 50% sure it might be a break out put a limit order above other S&R.....
  • #2,543
  • May 24, 2011 8:37pm May 24, 2011 8:37pm
Quoting Dredding82
"The Trend Is Your Friend" so trade with the trend but if your atleast 50% sure it might be a break out put a limit order above other S&R.....
Dredding, is this the type of trade you would have taken? Would have been pretty profitable with a small stop loss.. You mention that pivots should not be necessary so I took them off the chart..
Off to sleep.. late here..

Balrog.
Attached Image (click to enlarge)
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  • #2,544
  • May 24, 2011 8:41pm May 24, 2011 8:41pm
Quoting balrog
Dredding, is this the type of trade you would have taken? Would have been pretty profitable with a small stop loss.. You mention that pivots should not be necessary so I took them off the chart..
Off to sleep.. late here..

Balrog.
PIVOTS ARE NEEDED...i never said they were not! I said it does not matter what pivots you use ....i said a fail at a pivot is not needed if you dont understand it, Pivots are needed for TP levels along with the Daily RANGE. But look at my profile and the trade explorer thingy..did the EA take that trade? If so then i prop would have too! and the EA is BANKING! lol
  • #2,545
  • May 24, 2011 8:43pm May 24, 2011 8:43pm
Looks like the TREND is INDEED your FRIEND lol
  • #2,546
  • May 24, 2011 8:45pm May 24, 2011 8:45pm
Quoting balrog
Dredding, is this the type of trade you would have taken? Would have been pretty profitable with a small stop loss.. You mention that pivots should not be necessary so I took them off the chart..
Off to sleep.. late here..

Balrog.
See how all of his HA's in the subwindow are RED....DOWN TREND....MAKE THEM PIPS TIME lol
  • #2,547
  • May 24, 2011 8:53pm May 24, 2011 8:53pm
Quoting Dredding82
PIVOTS ARE NEEDED...i never said they were not! I said it does not matter what pivots you use ....i said a fail at a pivot is not needed if you dont understand it, Pivots are needed for TP levels along with the Daily RANGE. But look at my profile and the trade explorer thingy..did the EA take that trade? If so then i prop would have too! and the EA is BANKING! lol
Yep, ea took the trade a few hours ago..trade looking good now
  • #2,548
  • May 24, 2011 8:53pm May 24, 2011 8:53pm
H1 AudUsd trade...risk would have been 18 pips....PROFIT is like 54 pips now....Risk:Reward is there if you trade with the TREND....
  • #2,549
  • May 24, 2011 9:01pm May 24, 2011 9:01pm
Quoting Dredding82
H1 AudUsd trade...risk would have been 18 pips....PROFIT is like 54 pips now....Risk:Reward is there if you trade with the TREND....
Cheers. Will demo with the 1hr timeframe over the next while.. but need to get some sleep as I'll be up with the 5min charts soon.

Balrog.
  • #2,550
  • May 24, 2011 9:10pm May 24, 2011 9:10pm
Ok man...have a good night im heading there myself soon. If you want to improve your trading....open another account...demo or live if your already trading the Freebie System live and use one on the M5 for "Fun Money" as i call it and use the other for a higher TF like the H4 or D1 for "Bill Money" as i call it....you will see its the same kind of returns it just takes a bit longer the higher the TF you trade.
  • #2,551
  • May 25, 2011 1:59am May 25, 2011 1:59am
Quoting Dredding82
Quick question for ya buddy....do the candles on your charts go from the bottom left and UP or the top left and DOWN? There is your trend...so you should only look for trades WITH THE TREND....This is one reason you are not getting good trades...your trading against the TREND...lol TREND IS YOUR FRIEND...
Hey Dredding, just trying to follow Paulus' 5m method for the week on this one.
  • #2,552
  • May 25, 2011 2:14am May 25, 2011 2:14am
just the first 10mins in London session -__-

-5% Aud

-5% Cad
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  • #2,553
  • Edited 2:25am May 25, 2011 2:23am | Edited 2:25am
Short USDCAD from 09797
SL 09808
TP next pivot @ 09785

T

Edit: SL hit
  • #2,554
  • May 25, 2011 3:09am May 25, 2011 3:09am
Short again on USDCAD from 09799 (entry was 7 candles ago after previous lower high and break through the pivot, just didn't have time to update)
SL 09811
TP still next pivot @ 09785

T
  • #2,555
  • May 25, 2011 3:27am May 25, 2011 3:27am
My first day trading this system today and the 5 min charts seem very messy.

May hold off or go back to demo for a bit.

Anyone seeing any setups?
  • #2,556
  • May 25, 2011 3:55am May 25, 2011 3:55am
Quoting tritan
Short again on USDCAD from 09799 (entry was 7 candles ago after previous lower high and break through the pivot, just didn't have time to update)
SL 09811
TP still next pivot @ 09785

T
USDCAD working out well so far. Bounced just short of TP but expect it to hit next time around.

EU hit TP for +7% and GU got taken out by news for -5%

Going to stop updating for now as dont have time to put charts up until the end of day so this isn't really helpful
  • #2,557
  • May 25, 2011 5:52am May 25, 2011 5:52am
This is my eu short with the trend failed at a pivot , looks good so far .....
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  • #2,558
  • May 25, 2011 8:36am May 25, 2011 8:36am
Very bad day today

5 lose in a row

Feel like dying
  • #2,559
  • May 25, 2011 8:39am May 25, 2011 8:39am
Quoting frontline141
Very bad day today

5 lose in a row

Feel like dying
I feel your pain!! My first day, I had a coupe of wins but more losses.
  • #2,560
  • May 25, 2011 8:41am May 25, 2011 8:41am
Quoting frontline141
just the first 10mins in London session -__-

-5% Aud

-5% Cad

I cant see your entry's on your chart can you mark with an arrow plse what arrow out of all the arrows are your entry arrows
..other wise we cant see what you took

P
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