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Price Action Trading with Indicators! The Freebie System

  • #2,981
  • Jun 20, 2011 1:18pm Jun 20, 2011 1:18pm
GU no good for me atm as its mid pivot..good luck though
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  • #2,982
  • Jun 20, 2011 1:22pm Jun 20, 2011 1:22pm
Quoting Paulus
GU no good for me atm as its mid pivot..good luck though
Good to see some live trades here.. Been short on the GU for a while now.. My pivots are different to yours paulus which got me in. Hoping for 1.6164 to give me 1:3. Also short on the AU.

Balrog.
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  • #2,983
  • Jun 20, 2011 1:22pm Jun 20, 2011 1:22pm
AU looking ok

have hit 10% my rule as per earlier trades several weeks ago is TP is next pivot or 15% gain what ever hits 1st

In this case it looks like 15% rather than the pivot which is lower

Paulus
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  • #2,984
  • Jun 20, 2011 1:25pm Jun 20, 2011 1:25pm
Quoting balrog
Good to see some live trades here.. Been short on the GU for a while now.. My pivots are different to yours paulus which probably got me in. Hoping for 1.6164 to give me 1:3. Also short on the AU.

Balrog.

I believe in what dredding has said in the past draw any pivot lines and trade around them with semaphore and entry candles

You get some I dont and visa versa..comes out same in the long run

cheers

P
  • #2,985
  • Jun 20, 2011 1:35pm Jun 20, 2011 1:35pm
Quoting Paulus
I believe in what dredding has said in the past draw any pivot lines and trade around them with semaphore and entry candles

You get some I dont and visa versa..comes out same in the long run

cheers

P
Quite right.. sorry Dredding my comment wasn't meant to kick off another round of who's got the correct pivots just an observation. What Paulus says is correct any pivots will do.

Balrog.
  • #2,986
  • Jun 20, 2011 1:43pm Jun 20, 2011 1:43pm
Hi Balrog

I do honestly believe that if we closed our eyes and drew on the chart 7 horizontal lines..ie 1 central pivot 3 lower 3 higher and traded around them with RR of 1:1 up to 3:1 with semaphore to show higher hi lower hi etc and entry candles via HA for example then you make profit every day

P
  • #2,987
  • Jun 20, 2011 1:51pm Jun 20, 2011 1:51pm
Quoting Paulus
AU looking ok

have hit 10% my rule as per earlier trades several weeks ago is TP is next pivot or 15% gain what ever hits 1st

In this case it looks like 15% rather than the pivot which is lower

Paulus

6 pips from 15% target and then some one lit a fire under it lols arghhhh

I will hold untill SL or 15%TP

cheers

P
  • #2,988
  • Jun 20, 2011 2:10pm Jun 20, 2011 2:10pm
Quoting Paulus
Hi Balrog

I do honestly believe that if we closed our eyes and drew on the chart 7 horizontal lines..ie 1 central pivot 3 lower 3 higher and traded around them with RR of 1:1 up to 3:1 with semaphore to show higher hi lower hi etc and entry candles via HA for example then you make profit every day

P
From what I've learned on this thread I think you might be right.. although I might try it on a demo account first

GU and AU heading in right direction again..

Balrog.
  • #2,989
  • Jun 20, 2011 2:29pm Jun 20, 2011 2:29pm
Quoting Paulus
6 pips from 15% target and then some one lit a fire under it lols arghhhh

I will hold untill SL or 15%TP

cheers

P
haha you truly are a computer paulus, i still find myself jumping ship occasionally when I'm a few pips from TP
  • #2,990
  • Jun 20, 2011 2:36pm Jun 20, 2011 2:36pm
Quoting neuron
haha you truly are a computer paulus, i still find myself jumping ship occasionally when I'm a few pips from TP
hehe...if you close 2 pips early then 2 weeks from now you will be closing 5 pips early..6 weeks from now 10 pips early..and 12 weeks from now your SL will be bigger then your TP 16weeks from now you will have no account

Strict rules..emotional free trading .. black and white decisions...for me its the only way

P
  • #2,991
  • Jun 20, 2011 2:45pm Jun 20, 2011 2:45pm
Quoting Paulus
hehe...if you close 2 pips early then 2 weeks from now you will be closing 5 pips early..6 weeks from now 10 pips early..and 12 weeks from now your SL will be bigger then your TP 16weeks from now you will have no account

Strict rules..emotional free trading .. black and white decisions...for me its the only way

P
"working like a machine?? have a break, have a kitkat" itīs a commercials on german tv..
  • #2,992
  • Jun 20, 2011 2:52pm Jun 20, 2011 2:52pm
ah we have it here ..

I only work like a machine at trade entry..after that I cannot do any thing like now for example on my trade I sit with thumb in mouth .. or I may push the boat out and watch a piece of metal on my desk rust ......

P
  • #2,993
  • Jun 20, 2011 7:04pm Jun 20, 2011 7:04pm
Ouch was in profit but then hit SL

I suppose I need to reevaluate my risk:reward ratio when trading against the trend

No biggie, good thing my lot sizes were appropriate that the drawdown isn't too painful
  • #2,994
  • Jun 20, 2011 11:11pm Jun 20, 2011 11:11pm
Thanks everyone for continuing to post trades and results and charts! I'm still new to this method and have to find a way to manual trade around my job, etc., until/unless I can program an EA to trade while I'm asleep.

If anyone likes the Fib_Pivots indicator, I've modified it to fit Dredd's recommendations. From H1 on down, it shows D1 Pivots, H4 shows W1 and D1 shows M1 Pivots, so you only need one indicator and can easily switch between TFs. You can also choose if you want Standard Pivots instead of Fib Pivots by a True or False. If you want Camarillas, use the Camarilladt like Paulus.
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  • #2,995
  • Jun 21, 2011 12:08am Jun 21, 2011 12:08am
Quoting Paulus
Quick update

GU +5%+5%
UC +5%
EU +5%
AU -5% ..semaphore now gone

ROC +15%

P
I lost 1% on the EU short this was closed when I went to bed

I was 1 pip away from +15% on it ..needed 55 hit 56 but that's trading forgotten already

ROC yest +14%
P
  • #2,996
  • Jun 21, 2011 12:10am Jun 21, 2011 12:10am
Quoting ericjschroed
Thanks everyone for continuing to post trades and results and charts! I'm still new to this method and have to find a way to manual trade around my job, etc., until/unless I can program an EA to trade while I'm asleep.

If anyone likes the Fib_Pivots indicator, I've modified it to fit Dredd's recommendations. From H1 on down, it shows D1 Pivots, H4 shows W1 and D1 shows M1 Pivots, so you only need one indicator and can easily switch between TFs. You can also choose if you want Standard Pivots instead of Fib Pivots by a True or False. If you...
Thanks appreciated

P
  • #2,997
  • Jun 21, 2011 12:37am Jun 21, 2011 12:37am
Paulus.. I'm interested in your theory on break even. I notice you don't ever use it, even when you are up 10% and target has just missed and price is reversing.
Usually a trader would move to at least BE under these circumstances. I know you like to think in black and white, i.e win or lose, but is there any flexibility for BE?
We all see the same dream, just from different viewpoints
  • #2,998
  • Jun 21, 2011 12:56am Jun 21, 2011 12:56am
Quoting Paulus
Hi Balrog

I do honestly believe that if we closed our eyes and drew on the chart 7 horizontal lines..ie 1 central pivot 3 lower 3 higher and traded around them with RR of 1:1 up to 3:1 with semaphore to show higher hi lower hi etc and entry candles via HA for example then you make profit every day

P
paulus , please point out if any rules wrong:
1. looking for entry only after london open.

2. long trade if:
2.1 count Only last three semafor point ,if you see a base semafor , higher semafor, then higher low semafor than base semafor.
2.2 price bar close at near and on top of pivot line .
2.3 at same time HA bar change color from short to long trade.
2.4 entry long trade at begin of second HA long bar.

3. SL at 2pip+ at low of higher low semafor bar.

4. TP at next pivot line or 3x pips from SL to entry. if next pivot too close, just make TP same pips with SL to entry. makr RR 1:1

do I miss anything ? paulus. thanks
  • #2,999
  • Jun 21, 2011 1:22am Jun 21, 2011 1:22am
Quoting Ironbark
Paulus.. I'm interested in your theory on break even. I notice you don't ever use it, even when you are up 10% and target has just missed and price is reversing.
Usually a trader would move to at least BE under these circumstances. I know you like to think in black and white, i.e win or lose, but is there any flexibility for BE?

Not for me..break even at 10% is like capping at 10% very few trades will go straight down to 15% without a retracement..I look for the perfect text book RR of 3:1 and results have been very good

One bad day capping at 10% and soon I will be moving stop to break even at 5%..its just some thing Ive never done

cheers

P
  • #3,000
  • Jun 21, 2011 1:25am Jun 21, 2011 1:25am
Quoting piphat
paulus , please point out if any rules wrong:
1. looking for entry only after london open.

2. long trade if:
2.1 count Only last three semafor point ,if you see a base semafor , higher semafor, then higher low semafor than base semafor.
2.2 price bar close at near and on top of pivot line .
2.3 at same time HA bar change color from short to long trade.
2.4 entry long trade at begin of second HA long bar.

3. SL at 2pip+ at low of higher low semafor bar.

4. TP at next pivot line or 3x pips from SL to entry. if next pivot too close, just...
paulus , please point out if any rules wrong:
1. looking for entry only after london open.

2. long trade if:
2.1 count Only last three semafor point ,if you see a base semafor , higher semafor, then higher low semafor than base semafor.correct

2.2 price bar close at near and on top of pivot line .yes or just broken through on signal bar
2.3 at same time HA bar change color from short to long trade.yes
2.4 entry long trade at begin of second HA long bar.or close of 1st which will be close of 5min bar

3. SL at 2pip+ at low of higher low semafor bar.1pip I use

4. TP at next pivot line or 3x pips from SL to entry. if next pivot too close, just make TP same pips with SL to entry. makr RR 1:1correct

do I miss anything ? paulus.... dont think so looks good to go

P
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