Price Action Trading with Indicators! The Freebie System | Page 138 | 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

  • #2,741
  • Jun 2, 2011 5:28am Jun 2, 2011 5:28am
long off pivot, in a bit late as multitasking here

TP1 +20
TP2 currently around +15
Target 1546.8 for +50
R1 = 1548.1
Stop @ BE +2

I have a free trade

M5 up
H1 up
H4 up

so says my indy

Off to repair stairgate, may be some time

ST
Attached Image (click to enlarge)
Click to Enlarge Name: gold020611.gif Size: 23 KB
" Dont wait for your boat to come in ..... swim out and meet it"
  • #2,742
  • Jun 2, 2011 5:30am Jun 2, 2011 5:30am
dup post
" Dont wait for your boat to come in ..... swim out and meet it"
  • #2,743
  • Jun 2, 2011 9:53am Jun 2, 2011 9:53am
Hey Paulus, can I pick your brain?

See attached chart for GU. I entered where the red arrow is and was stopped out (by the narrowest of margins) where the red x is. My question is would you have re-entered where the green arrow is?

I didn't and missed out on a few I got into an thinking match with myself as to whether I should take it or not (not good with this strategy). I won't worry as I'm up for the day but I'd be interested in your thoughts.

Cheers,
Balrog.
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.gif Size: 22 KB
  • #2,744
  • Jun 2, 2011 9:56am Jun 2, 2011 9:56am
Quoting balrog
Hey Paulus, can I pick your brain?

See attached chart for GU. I entered where the red arrow is and was stopped out (by the narrowest of margins) where the red x is. My question is would you have re-entered where the green arrow is?

I didn't and missed out on a few I got into an thinking match with myself as to whether I should take it or not (not good with this strategy). I won't worry as I'm up for the day but I'd be interested in your thoughts.

Cheers,
Balrog.
What is the different in the price from where you sold at and the one you didnt take? What is your brokers spread....If you added spread x2 would that have kept you in the trade?*WINK WINK* Spread is sometimes a game brokers like to play with NEWBIES that do not understand how to trade with it. If on a SELL order your SL = the last high. well sometimes the price moves back up to around your SL but never really reaches it but since you have spread...the ASK hit it or when above 1 pip....adding the SPREAD or SPREADx2 to your SL is a smart ideal.
  • #2,745
  • Jun 2, 2011 9:59am Jun 2, 2011 9:59am
Quoting Paulus
-5% on Uc
+13% on EU

ROC 21%

Hi Paulus,

Many thanks for your posts; I know that they help me and I'm sure many others. Bit cheeky I know, but could I ask you to please add the time of entry of each trade.... may be easier than adding charts, which I know takes time.

Thanks again,

Freddi
  • #2,746
  • Jun 2, 2011 10:06am Jun 2, 2011 10:06am
Quoting Dredding82
What is the different in the price from where you sold at and the one you didnt take? What is your brokers spread....If you added spread x2 would that have kept you in the trade?*WINK WINK* Spread is sometimes a game brokers like to play with NEWBIES that do not understand how to trade with it. If on a SELL order your SL = the last high. well sometimes the price moves back up to around your SL but never really reaches it but since you have spread...the ASK hit it or when above 1 pip....adding the SPREAD or SPREADx2 to your SL is a smart ideal.

Hey Dredding, how's the form? I'm still demo trading the 1hour while live trading the 5min. So far so good.

The short answer to your question is yes- I would still be in the trade if I added spread x2

Balrog.
  • #2,747
  • Jun 2, 2011 10:18am Jun 2, 2011 10:18am
Quoting balrog
Hey Dredding, how's the form? I'm still demo trading the 1hour while live trading the 5min. So far so good.

The short answer to your question is yes- I would still be in the trade if I added spread x2

Balrog.

You traded it right but like i said its a GAME the BROKERS play with newbies who do not understand how the spread( BID & ASK) works. SO just add it to your trading and see how it works for ya.
  • #2,748
  • Jun 2, 2011 10:24am Jun 2, 2011 10:24am
Quoting balrog
Hey Paulus, can I pick your brain?

See attached chart for GU. I entered where the red arrow is and was stopped out (by the narrowest of margins) where the red x is. My question is would you have re-entered where the green arrow is?

I didn't and missed out on a few I got into an thinking match with myself as to whether I should take it or not (not good with this strategy). I won't worry as I'm up for the day but I'd be interested in your thoughts.

Cheers,
Balrog.
I personally would not re enter this is hind sight in reality price made a higher hi and so could of revered and gone up

cheers

P
  • #2,749
  • Jun 2, 2011 10:25am Jun 2, 2011 10:25am
Quoting freddi
Hi Paulus,

Many thanks for your posts; I know that they help me and I'm sure many others. Bit cheeky I know, but could I ask you to please add the time of entry of each trade.... may be easier than adding charts, which I know takes time.

Thanks again,

Freddi
Ok they will be uk time

P
  • #2,750
  • Jun 2, 2011 10:29am Jun 2, 2011 10:29am
Quoting Paulus
I personally would not re enter this is hind sight in reality price made a higher hi and so could of revered and gone up

cheers

P
Thanks..
  • #2,751
  • Jun 2, 2011 11:44am Jun 2, 2011 11:44am
Quoting Paulus
Ok they will be uk time

P

Cheers!

F
  • #2,752
  • Jun 2, 2011 12:55pm Jun 2, 2011 12:55pm
up date

EU 15% +7%
AU -5%-5% long from 1.0663
GU -5%
UC +15%

ROC +22%

P

ps
sorry the time thing took quite a time and loot more typing sounds weird but by the time I put the % and then the time and then the direction I may as well post charts at the end of the day sorry
  • #2,753
  • Jun 2, 2011 3:06pm Jun 2, 2011 3:06pm
Quoting Paulus
up date

EU 15% +7%
AU -5%-5% long from 1.0663
GU -5%
UC +15%

ROC +22%
Close the AU long for +5%

ROC +27%
  • #2,754
  • Jun 2, 2011 4:28pm Jun 2, 2011 4:28pm
This an example D1 chart for GU.

I am new to D1 so trying to figure out how to use it.

Putting trend to one side for the moment.

Obv this is past tense so semaphor and pivots may have moved.

I assume I check candle at midnight (GMT +1)

Long Trade 24/5

candle made LL
rejected FIB S2
closed above S2 and bang on S1
stop under BIG 3 which is below me
range to pivot is +165
range to stop +130

Short Trade 31/5

candle made HH
FIB R1 failed
closed below R1
stop above HH/R1
range to pivot +90
range to stop +110
Attached Image (click to enlarge)
Click to Enlarge Name: d1example020611.gif Size: 29 KB
" Dont wait for your boat to come in ..... swim out and meet it"
  • #2,755
  • Jun 2, 2011 5:18pm Jun 2, 2011 5:18pm
Quoting speedtrip
This an example D1 chart for GU.

I am new to D1 so trying to figure out how to use it.

Putting trend to one side for the moment.

Obv this is past tense so semaphor and pivots may have moved.

I assume I check candle at midnight (GMT +1)

Long Trade 24/5

candle made LL
rejected FIB S2
closed above S2 and bang on S1
stop under BIG 3 which is below me
range to pivot is +165
range to stop +130

Short Trade 31/5

candle made HH
FIB R1 failed
closed below R1
stop above HH/R1
range to pivot +90
range to stop +110
Trading the higher TFs is the same as the lower...trade with the trend for the most pips. Like i said the higher the TF the more pips.
  • #2,756
  • Jun 2, 2011 8:11pm Jun 2, 2011 8:11pm
Quoting balrog
Hey Paulus, can I pick your brain?

See attached chart for GU. I entered where the red arrow is and was stopped out (by the narrowest of margins) where the red x is. My question is would you have re-entered where the green arrow is?

I didn't and missed out on a few I got into an thinking match with myself as to whether I should take it or not (not good with this strategy). I won't worry as I'm up for the day but I'd be interested in your thoughts.

Cheers,
Balrog.
I got same trade as yours. will try to add spread next time.

Paulus, please see the chart, and tell me what I did is wrong or ?
the first red Vertical line was my long entry, SL hit.
the second red vertical line was my short entry , SL hit. if that was you are you going to take second short trade?

EU, +5, +15
UC +15
GU, -5
AU -5,-5

next time will try post all the trade on the chart before Piovt line change at end of day. thanks

Paulus, please take look of my last post #2752. and try give me your view of point on my question. thanks for help.
Attached Image (click to enlarge)
Click to Enlarge Name: au.jpg Size: 94 KB
  • #2,757
  • Jun 3, 2011 1:42am Jun 3, 2011 1:42am
Quoting michaelwen
I got same trade as yours. will try to add spread next time.

Paulus, please see the chart, and tell me what I did is wrong or ?
the first red Vertical line was my long entry, SL hit.
the second red vertical line was my short entry , SL hit. if that was you are you going to take second short trade?



Paulus, please take look of my last post #2752. and try give me your view of point on my question. thanks for help.
1st entry long ...unless you had a semaphor giving higher low just because it broke a pivot the trade should not of been taken..we need a semaphor swing low beneath us for a long trade I do not see one on your chart

2nd entry short looks ok as a lower high was made as long as the entry bar broke a pivot its a valid signal
  • #2,758
  • Jun 3, 2011 1:46am Jun 3, 2011 1:46am
Quoting michaelwen
for find the trend. we only focus on last three semaphor location to determine H, L , LH?

EU +13%,+10%
GU -5,-5,+10,-5
AU -5,-5
ROC, +8
some good set up I miss it, did not see at that time.

and Paulus, you said, you are only trade from London open untill end right? what happen if you still have trade open at london close, are you close it , or left open untill hit SL or TP?
Correct yes we need 3 semaphor to determine probable 5min trend which is a classic 123 formation

http://mediaserver.fxstreet.com/Reports/1a0c4633-c3fc-4a76-89a7-1ccb8925281b/3ee6e5cb-538c-4f66-b45d-8ab92bc2ecee.pdf

I leave it open untill I go to bed then close simple as that most nights thats 10-11pm

cheers

P
  • #2,759
  • Jun 3, 2011 1:51am Jun 3, 2011 1:51am
thx 4 responding dredd, i lost connection for a while last nite so could not finish editng my post.

i completely agree re tradiing with trend

what i was trying to illustrate, assuming if the trend is there, that long or short i would be entering on close of the daily candle, which invariably means larger stops and placing stop above/below relevant high/low which is where the semaphor is, as price may retrace near to that positon before resuming its move assuming I am on right side of trend.

I therefore need to look for moves with at least 1:1+ RR just like I would on M5 or whatever.

I am using 10080 on the fibo and like on M5 I would target the next pivot level as TP. Sometimes just like on lower M5 etc there is not room for the necessary R:R so we wait for the next setup.

I wanted to ask if those trading the D1 etc still target the next pivot or do we just look for 1:1+. I am aware of longer term traders who for example may just use a stop of -100 and a TP of +200 but that would mean ignoring the prescence of FIB levels when considering TP levels, and this does not sound right either.

It may be that I still use the Fib levels as TP but I may only get 1/2 setups per week on D1 per pair/instrument and I need to get to used to checking the candles every day until I see a good setup with R:R of at least 1:1.

I will setup up another broker to demo my longer t/f trading.

Would welcome views

ST

Quoting Dredding82
Trading the higher TFs is the same as the lower...trade with the trend for the most pips. Like i said the higher the TF the more pips.
" Dont wait for your boat to come in ..... swim out and meet it"
  • #2,760
  • Jun 3, 2011 4:05am Jun 3, 2011 4:05am
Quoting Paulus
1st entry long ...unless you had a semaphor giving higher low just because it broke a pivot the trade should not of been taken..we need a semaphor swing low beneath us for a long trade I do not see one on your chart

2nd entry short looks ok as a lower high was made as long as the entry bar broke a pivot its a valid signal
Paulus, thanks for the comment. yes, the first long entry had HL semaphor when I entry. see the chart.
Attached Image (click to enlarge)
Click to Enlarge Name: eu 1.jpg Size: 138 KB
19 traders viewing now