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Price Action Trading with Indicators! The Freebie System

  • #2,641
  • May 27, 2011 3:23pm May 27, 2011 3:23pm
Quoting tuctuc
Whistlepips acceleration in a trend is what u could study in a trend, good stuff!

btw good thread!
Thank for the tip. Any advices where to find stuff. From FF?
  • #2,642
  • May 27, 2011 3:28pm May 27, 2011 3:28pm
Hi W no sorry no good links, what i can say is google it!
And checkout the SILVER chart classic example on there.
After an acceleration it drops hard! so look for that dredding signal after a acceleration. cheers and good weekend...
  • #2,643
  • May 27, 2011 3:41pm May 27, 2011 3:41pm
Quoting tuctuc
Hi W no sorry no good links, what i can say is google it!
And checkout the SILVER chart classic example on there.
After an acceleration it drops hard! so look for that dredding signal after a acceleration. cheers and good weekend...
Thanks tuc. I check it out. Same to you too.

BTW been riding one at Bangkok some time a go
  • #2,644
  • May 27, 2011 4:03pm May 27, 2011 4:03pm
Quoting tuctuc
zelden seen such a great 450 pips trend, this week was great! cheers and good weekend
On the 5min on the session I trade

cheers

P
  • #2,645
  • May 27, 2011 4:07pm May 27, 2011 4:07pm
Haha nice one W so u already know what accaleration is.
Getting those pips is just like riding in a tuctuc in Bangkok one wrong move and it over lol. Or slipping trou traffic like the 5% winning traders are doing in forex.
over and out

TucTuc
  • #2,646
  • May 27, 2011 4:11pm May 27, 2011 4:11pm
Quoting Paulus
On the 5min on the session I trade

cheers

P

Your right paulus sorry about that . doing a great job here
cheers p
  • #2,647
  • May 27, 2011 4:35pm May 27, 2011 4:35pm
Thanks heres my chart

ST

Quoting Whistlepips
My pivots are weekly pivots inspired by DreddŽs posts on the beginning of the week. There was so much space in between that I decided to add midpivots also. They seem to work preddy good on weekly.

Maybe too early to tell? Been using them only couple of days, but all in all I find weekly pivots predicting PA really good. Ive been using weekly pivots on camarillav9 indi. Check them out if you will.

Added: Thanks for the question I was just thinking do you need them anyway. They do provide some extra entry points, which happen more seldom on larger...
Attached Image (click to enlarge)
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" Dont wait for your boat to come in ..... swim out and meet it"
  • #2,648
  • May 28, 2011 3:34am May 28, 2011 3:34am
weekly results

M +38%
T -11%
W +21%
T +3%
F +12%

Weekly ROC = 63%

With a max RR of 3;1 and a min of 1;1 I never get dispondant if I have losing days

As a day trader we look at weekly profits
Monthly returns

My trading methology

 

  1. Never risk 10pips to get 5 pips ie a negative RR
  2. Never add to a losing position to average down
  3. Never risk more than 5% of your account on any 1 trade
  4. Never 2nd guess the market You dont know where its heading in the next 10mins neither do I
  5. Never over analyse your entry ,you get 3 green lights you enter thought process over
  6. Never move your stop from its initial position its in a technically excellent position ie below or above last swing hi or lo
  7. Never reduce your TP if your anxious leave the room
  8. Never enter late on a signal if you missed it wait for another
  9. Never be swayed by others opinion on any trade set up if your trading this system your are a technical trader not a fundamentalist
  10. Never over trade your position size if your nervous or anxious trade at 1% risk get used to the process of creating tickets entering and closing out.
  11. Never trade after an argument at home
  12. Never trade if you have been drinking
  13. Never trade if your are ill
  14. Always try to think logical and go back to basics higher hi,higher lo, lower hi lower lo
  15. Always try to think black or white ..red or green... No grey ... no amber
  16. Never think the market is out to get you it doesn't know you exist
  17. Never think brokers are hunting your stops there are bigger fish in the sea
  18. If you wake up drink coffee wash and clean your teeth feed the dog eat toast do 20 push ups and scream allowed in the garden for 10minutes before trading ..then do your routine very morning it will help you get into a logical thought process
  19. Never beat your self up from your mistakes identify them write them down do not make the mistake again
  20. Try to think like an EA

P

  • #2,649
  • May 28, 2011 3:40am May 28, 2011 3:40am
Quoting speedtrip
Thanks heres my chart

ST
Looks about the same as mine.

Great checklist Paulus. Great results also as usual.
  • #2,650
  • May 28, 2011 4:39am May 28, 2011 4:39am
Paulas, that is an excellent post, hit the mark exactly

ST

Quoting Paulus
weekly results

M +38%
T -11%
W +21%
T +3%
F +12%

Weekly ROC = 63%

With a max RR of 3;1 and a min of 1;1 I never get dispondant if I have losing days

As a day trader we look at weekly profits
Monthly returns

My trading methology

[list][*]Never risk 10pips to get 5 pips ie a negative RR[*]Never add to a losing position to average down[*]Never risk more than 5% of your account on any 1 trade[*]Never 2nd guess the market You dont know where its heading in the next 10mins neither do I[*]Never over analyse your entry ,you get 3 green lights...
" Dont wait for your boat to come in ..... swim out and meet it"
  • #2,651
  • May 28, 2011 4:52am May 28, 2011 4:52am
Quoting Paulus
weekly results

M +38%
T -11%
W +21%
T +3%
F +12%

Weekly ROC = 63%

With a max RR of 3;1 and a min of 1;1 I never get dispondant if I have losing days

As a day trader we look at weekly profits
Monthly returns

My trading methology

[list][*]Never risk 10pips to get 5 pips ie a negative RR[*]Never add to a losing position to average down[*]Never risk more than 5% of your account on any 1 trade[*]Never 2nd guess the market You dont know where its heading in the next 10mins neither do I[*]Never over analyse your entry ,you get 3 green lights...

great results and the checklist is awesome! iŽll print it out and hang on my wall wish you all the best!

Cheers

Andrey
  • #2,652
  • May 28, 2011 8:06am May 28, 2011 8:06am
Quoting Paulus
Try to think like an EA

Yes, nice list.

But the big question is "How do you think like an EA for this strategy?"

What checklist (entry criteria) do you use before entering a trade?
  • #2,653
  • May 28, 2011 8:12am May 28, 2011 8:12am
Quoting Paulus
weekly results

M +38%
T -11%
W +21%
T +3%
F +12%

Weekly ROC = 63%

With a max RR of 3;1 and a min of 1;1 I never get dispondant if I have losing days

As a day trader we look at weekly profits
Monthly returns

My trading methology

[list][*]Never risk 10pips to get 5 pips ie a negative RR[*]Never add to a losing position to average down[*]Never risk more than 5% of your account on any 1 trade[*]Never 2nd guess the market You dont know where its heading in the next 10mins neither do I[*]Never over analyse your entry ,you get 3 green lights...

very inspiring .... thx
  • #2,654
  • May 28, 2011 9:41am May 28, 2011 9:41am
Quoting zznbrm
Yes, nice list.

But the big question is "How do you think like an EA for this strategy?"

What checklist (entry criteria) do you use before entering a trade?
What I mean by this is dont fuddle the entry by to many what ifs.

An EA would look at the trade like this

For a long

 

  1. Have we had a Higher hi
  2. Is the entry a higher lo or have we had a higher lo
  3. Is the entry candle breaking up through a pivot and did it close above the pivot
  4. Or has a pivot just been refused and we are above it
  5. Did the HA indicator go from red to white on the entry candle

Cheers

P

  • #2,655
  • May 28, 2011 10:55pm May 28, 2011 10:55pm
Quoting Paulus
What I mean by this is dont fuddle the entry by to many what ifs.

An EA would look at the trade like this

For a long

 

  1. Have we had a Higher hi
  2. Is the entry a higher lo or have we had a higher lo
  3. Is the entry candle breaking up through a pivot and did it close above the pivot
  4. Or has a pivot just been refused and we are above it
  5. Did the HA indicator go from red to white on the entry candle

Cheers

P

paulus. great list. one question about TP.
so, you set the two TP ,
1. 15% from entry point.
or, 2, First next in line of pivot line from your entry .
whatever hit first. right?
and you never change the 5%, SL. or 15% TP, or next in line pivot TP when the trade start, right?
thanks.
  • #2,656
  • May 28, 2011 11:38pm May 28, 2011 11:38pm
paulus,
All you do is highly appreciated. Thank you.

Quoting Paulus
What I mean by this is dont fuddle the entry by to many what ifs.

An EA would look at the trade like this

For a long

 

  1. Have we had a Higher hi
  2. Is the entry a higher lo or have we had a higher lo
  3. Is the entry candle breaking up through a pivot and did it close above the pivot
  4. Or has a pivot just been refused and we are above it
  5. Did the HA indicator go from red to white on the entry candle

Cheers

P

  • #2,657
  • Edited 4:52am May 29, 2011 3:02am | Edited 4:52am
Let's take look at the 1 hr chart of the EU. We've made a nice run up over the last 3-4 days. Now look to the left and you'll see we're coming into a resistance level. The last 2 times we were here we had big rejections (aqua arrows). We also have divergence in price and on the indicator giving us a signal that the up trend may need to correct.

Monday we may see a push to the up side early in the session and then a reversal from the resistance level. If we clearly break the resistance level to the top side then I would look for a retest of the level and a move to the long side.

So either way we have a game plan for Monday.
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  • #2,658
  • May 29, 2011 4:09am May 29, 2011 4:09am
Quoting ozziedave
Let's take look at the 1 hr chart of the EU. We've made a nice run up over the last 3-4 days. Now look to the left and you'ii see we're coming into a resistance level. The last 2 times...
thanks for your quick and understandable analysis, dave!
  • #2,659
  • May 29, 2011 6:27am May 29, 2011 6:27am
Quoting ozziedave
Let's take look at the 1 hr chart of the EU. . .
Thank you, Dave! What pivot indicator do you use? I like that it keeps the previous days in place.
  • #2,660
  • May 29, 2011 12:03pm May 29, 2011 12:03pm
Would youguys take this kind of a setup? Several semafors in between those two lows, but those two can be estimated to be from a trend in a larger tf. Maybe I should check is there semafors present in those larger tf`s?
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