Price Action Trading with Indicators! The Freebie System | Page 129 | 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

  • #2,561
  • May 25, 2011 8:43am May 25, 2011 8:43am
Quoting frontline141
Very bad day today

5 lose in a row

Feel like dying
Sorry to hear that frontline. Hope things turn around for you.

Down -12% on my demo account testing this today so looks like another bad day. Still long GU and up about 3% so far but waiting for it to hit TP at next pivot 16262

Will post my results and charts at the end of the day to see if anyone has any thoughts.

T
  • #2,562
  • May 25, 2011 8:46am May 25, 2011 8:46am
Update

EU +8% +5%
AU -5%
GU -5%-5%
UC 5%-5%-5%

ROc = -7%

P
  • #2,563
  • May 25, 2011 8:49am May 25, 2011 8:49am
Quoting frontline141
Very bad day today

5 lose in a row

Feel like dying

I trade at 5% risk but that's regarded as very high ..Frontline you need to trade at say 1% risk so 5 losers = 5% loss not 25% loss

Emotional burnout is avoided by lowering risk and growing the account slower
You should still get 50-70% growth per month on the account..its all about risk

2 winners at 15% puts you +5%

Risk and risk reward thats the key

P
  • #2,564
  • May 25, 2011 8:53am May 25, 2011 8:53am
Quoting Paulus
Update

EU +8% +5%
AU -5%
GU -5%-5%
UC 5%-5%-5%

ROc = -7%

P
Hi,

I know its a bad day Paulus but glad to see that i'm getting similar results to your own so that hopefully i'm doing something right in terms of entry and setting SL and TP. Any thoughts on why things are not working out over the last couple of days? Are you considering any alterations to your strat or do you just see this as part of trading?

T
  • #2,565
  • May 25, 2011 8:55am May 25, 2011 8:55am
Quoting Dredding82
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.
Hey Dredding, while working off the 5min charts today I was scanning the 1hr charts for some setups. Found one on the eugbp and entered using my demo account on the 15min chart(not sure if I should be doing it this way).. Risking 1% and return was just over 2%.. Got out at S3. Hopefully a setup that agrees with your rules . Think I'll demo this a bit more to identify setups on the higher tf. Didn't see this trade on your ea account though maybe it's a pair that the ea is not setup on? Anyhow, thanks for the input last night.

Balrog.
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp1.gif Size: 23 KB
  • #2,566
  • May 25, 2011 10:10am May 25, 2011 10:10am
Another one I entered on demo... made a mistake as had monthly/weekly pivots up when entered and looked good but not so sure now.. Hoping for S2 which is close to daily range

Update: Didn't have to worry.. Risk 1% got nearly 2%..

Dredding, your input on these trades would be helpful..

Balrog.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdchf1.gif Size: 21 KB
Click to Enlarge Name: usdchf2.gif Size: 21 KB
  • #2,567
  • May 25, 2011 10:33am May 25, 2011 10:33am
Quoting tritan
Hi,

I know its a bad day Paulus but glad to see that i'm getting similar results to your own so that hopefully i'm doing something right in terms of entry and setting SL and TP. Any thoughts on why things are not working out over the last couple of days? Are you considering any alterations to your strat or do you just see this as part of trading?

T
Part of trading nothing we can do about it othr than lower risk ie 5% to 3% perhaps untill we think volatility is back..but its an open ended question

I never make conclusions or major changes until the end of the day i could get 4 x 15% trades .....

P
  • #2,568
  • May 25, 2011 10:36am May 25, 2011 10:36am
Quoting Paulus
Part of trading nothing we can do about it othr than lower risk ie 5% to 3% perhaps untill we think volatility is back..but its an open ended question

I never make conclusions or major changes until the end of the day i could get 4 x 15% trades .....

P
Some nice trades coming in this afternoon taking from - to + Will post at the end of the day.

Still waiting on GU long to hit TP or SL. Looking good for TP although only at entry price now.

Cheers for the return P.
  • #2,569
  • May 25, 2011 10:54am May 25, 2011 10:54am
Here is a n ice EU long trade. Price comes up breaks the DPV line retests the line and then heads north. In on the green arrow candle. See we have L, H, HL combination.
Attached Image (click to enlarge)
Click to Enlarge Name: eu 5m t1 25.5.11.jpg Size: 127 KB
  • #2,570
  • May 25, 2011 11:47am May 25, 2011 11:47am
Quoting Paulus
Update

EU +8% +5%
AU -5%
GU -5%-5%
UC 5%-5%-5%

ROc = -7%

P
Update will post charts later

EU +8% +5% -5%+5% long from 1.4098
AU -5%+6%+5% no position at mo
GU -5%-5%+7% long from 1.6282
UC + 5%-5%-5%+5%+5% no position at mo

ROC = +21%

Take every signal even if it means lowering your % risk you have to sub consciously prove to your self that the system is solid ..with that comes trading in the comfort zone that with %risk and risk return

P
  • #2,571
  • May 25, 2011 11:53am May 25, 2011 11:53am
Trades today (risk 1% per trade) using 4-point trend:

All New York time

Inserted Code
 
EURUSD     None
GBPUSD     2011.05.25 04:20      -1.0%
GBPUSD     2011.05.25 08:30      +1.6%
AUDUSD     2011.05.25 10:25      +1.5%
USDCHF     2011.05.25 06:15      +2.1%
-------------------------------------------
Total                            +4.2%

Screenshots available upon request.
  • #2,572
  • Edited 12:16pm May 25, 2011 12:01pm | Edited 12:16pm
MY own updates for the day:

EU +7% +5% -5% +5%
AU -5% +7%
GU -5% -5% +7% -5%
UC -5% +6% -5% -5% +10% -5%

ROC = 2%

Missed out on one of the AU trades you took Paulus as thought it was too far from the pivot. Ended up a winner but hey ho.

I'm done for the day so charts below for anyone interested:

Edit: That last GU would still be open as I didn't allow enough room in my Stop Loss. Will update once trade completes!

Attached Image (click to enlarge)
Click to Enlarge Name: eu 3.jpg Size: 112 KB


Attached Image (click to enlarge)
Click to Enlarge Name: au 3.jpg Size: 111 KB


Attached Image (click to enlarge)
Click to Enlarge Name: gu 3.jpg Size: 114 KB


Attached Image (click to enlarge)
Click to Enlarge Name: uc 3.jpg Size: 135 KB
  • #2,573
  • May 25, 2011 12:07pm May 25, 2011 12:07pm
Quoting balrog
Hey Dredding, while working off the 5min charts today I was scanning the 1hr charts for some setups. Found one on the eugbp and entered using my demo account on the 15min chart(not sure if I should be doing it this way).. Risking 1% and return was just over 2%.. Got out at S3. Hopefully a setup that agrees with your rules . Think I'll demo this a bit more to identify setups on the higher tf. Didn't see this trade on your ea account though maybe it's a pair that the ea is not setup on? Anyhow, thanks for the input last night.

Balrog.
Hey Balrog, is that a MTF Heiken Ashi on your charts?
  • #2,574
  • May 25, 2011 12:17pm May 25, 2011 12:17pm
Quoting tradingdaily
Hey Balrog, is that a MTF Heiken Ashi on your charts?
TD, it is..

Balrog.
  • #2,575
  • Edited 4:28pm May 25, 2011 1:37pm | Edited 4:28pm
First time on the computer today. Finally Not an anonymoys forex o´holics issue yet.

Testing higher timeframes on the basis of discussion yesterday. Just took this AU short on H1. Sl above semafor, tp 1.0433. Things seems to be in order. Stoch crossed down, trends down, fail at pivot, semafor, etc. Im in no hurry.......

Any comments guys?

Added: Grrrr.......no H, L, LH confirmation..........
Attached Image (click to enlarge)
Click to Enlarge Name: auh1.gif Size: 32 KB
  • #2,576
  • Edited 3:30pm May 25, 2011 1:51pm | Edited 3:30pm
BTW those weekly pivots lookin pretty good on higher TF´s H1+

THANKS DREDD!
  • #2,577
  • May 25, 2011 2:07pm May 25, 2011 2:07pm
Quoting balrog
TD, it is..

Balrog.
Can you share a link to it
  • #2,578
  • May 25, 2011 2:40pm May 25, 2011 2:40pm
Quoting tradingdaily
Can you share a link to it
Sure. Here you go.
Attached File(s)
File Type: mq4 #MTF_Heiken_Ashi.mq4   9 KB | 674 downloads
  • #2,579
  • May 25, 2011 4:14pm May 25, 2011 4:14pm
Cheers mate!
  • #2,580
  • May 26, 2011 12:52am May 26, 2011 12:52am
Hi zznbrm,

Are you risking 1% per trade? Would love to see charts of your trades.
Thanks,
Freddi

Quoting zznbrm
Trades today (risk 1% per trade) using 4-point trend:

All New York time

Inserted Code
 
EURUSD     None
GBPUSD     2011.05.25 04:20      -1.0%
GBPUSD     2011.05.25 08:30      +1.6%
AUDUSD     2011.05.25 10:25      +1.5%
USDCHF     2011.05.25 06:15      +2.1%
-------------------------------------------
Total                            +4.2%
Screenshots available upon request.
0 traders viewing now