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Price Action Trading with Indicators! The Freebie System

  • #3,021
  • Jun 21, 2011 9:22am Jun 21, 2011 9:22am
Quoting chaveznqoos
Hi Paulus;
I´m not so sure about your MM.
For example; if your start the Monday with an initial balance of 2000$ and this day your benefit is 40 %.. Your withdraw the 800 $of profit and start on Tuesday with 2000 $ ? or your withdraw on weekend ?.

I´m sorry for my bad english
[color=black][font=Arial][font=Verdana][size=2]Cheers...
All depneds on my outgoings and commitments I often withdraw..but that doesnt effect the actual % gains..that's why i show % gain not financial gain

P
  • #3,022
  • Jun 21, 2011 9:24am Jun 21, 2011 9:24am
Quoting DrDave
Brapp, As has been said by Dreddings and others over-and-over (and over-and-over...), it doesn't matter which pivots you use. Try a set of pivots and see how they look. For example, after you put on some pivots, scroll back in time and look to see how price has behaved around those lines in the past. Do those lines make good support/resistance by price getting rejected quite often? If yes, then try them out for several days of real trading and see how they work for you. Or does price mostly blow through your lines, rarely bouncing or even hesitating?...
To prove the point this week I am using the pivot indicator called camarilla9 1by lu as it works out the time automaticaly for you I have inc it here
Attached File(s)
File Type: ex4 camarillav9-1by_lu.ex4   26 KB | 469 downloads
  • #3,023
  • Jun 21, 2011 9:33am Jun 21, 2011 9:33am
Hy guys!

I just want to ask, that what is the best broker to this system in your opinion?
I use Admiral Market, but not always satisfied with it...

Thank you the answers!
  • #3,024
  • Jun 21, 2011 9:36am Jun 21, 2011 9:36am
update

GU +15%+15%
UC -5%+5%+5%+7%
EU -5% long from 1.4363
AU -5%

ROC +32%

Feel guilty about this when I see large losses..thats why I also changed broker and used auto camerilla..just to show this does work

P
  • #3,025
  • Jun 21, 2011 9:46am Jun 21, 2011 9:46am
Quoting Paulus
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 you enter thought process over[*]Never move your stop from its initial position its in a technically excellent position ie below or above last swing hi or lo[*]Never reduce your TP if your anxious leave the...
The last advice is the best; EAs don't THINK about a trade, they just ACT on the rules!

DrDave
To free Gazans of Hamas, use whatever it takes.
  • #3,026
  • Jun 21, 2011 9:53am Jun 21, 2011 9:53am
short UC 0.9720
Attached Image (click to enlarge)
Click to Enlarge Name: d8.gif Size: 14 KB
  • #3,027
  • Jun 21, 2011 10:11am Jun 21, 2011 10:11am
Quoting Paulus
update

GU +15%+15%
UC -5%+5%+5%+7%
EU -5% long from 1.4363
AU -5%

ROC +32%

Feel guilty about this when I see large losses..thats why I also changed broker and used auto camerilla..just to show this does work

P
Hi Paulus, using yr broker and c lines ,in G/U , can u tell me why u dont trade short at 11:05 ? It should be " failed at Pivot Line and a LH after a LL "

And is that one of yr "+15 trade" is trading at 12:25" ? (because I cant see other possible +15 trade)

But aint there just is a "low" but not a "higher low" ? As the high was still lower than the previous high


thanks
  • #3,028
  • Jun 21, 2011 10:23am Jun 21, 2011 10:23am
Quoting Dredding82
BLAH BLAH BLAH....If i make a post being a smarta**(Since if you read the thread... I DO ALOT! As in JOKING WITH THE PERSON) Which isnt to down the person...but to help them UNDERSTAND the SYSTEM...i get people that have never posted here before calling me names.....BLAH BLAH BLAH...Just another trader that will never be profitable because they have a stick shoved up there a** ...More pips for me! YUMMY! lol
Keep up the good work, Dredding. Keep running your thread as you see fit. Make all the flippant, sarcastic remarks that you think are appropriate. I get a good laugh now and then either from your remarks or some of the inane and hostile replies. I suspect the hostile ones are in a bad mood because they are losing pips, and can't figure out how to follow 4 simple rules.

DrDave
To free Gazans of Hamas, use whatever it takes.
  • #3,029
  • Jun 21, 2011 10:27am Jun 21, 2011 10:27am
Quoting tradingdaily
could someone explain to me about pivot lines? what should I do at pivot points? what indicators do we use?..... I might have missed something.

Hi TD. Ummmm, I suspect that the main thing you missed was reading the thread from page 1 to at least page 50! Answers to ALL of your questions are contained therein.

DrDave
To free Gazans of Hamas, use whatever it takes.
  • #3,030
  • Jun 21, 2011 10:38am Jun 21, 2011 10:38am
Quoting frontline141
Hi Paulus, using yr broker and c lines ,in G/U , can u tell me why u dont trade short at 11:05 ? It should be " failed at Pivot Line and a LH after a LL "

And is that one of yr "+15 trade" is trading at 12:25" ? (because I cant see other possible +15 trade)

But aint there just is a "low" but not a "higher low" ? As the high was still lower than the previous high


thanks
Hi Frontline,

I'm sure Paulus will answer you but I attach my chart of trades on the GU. I got two 1:3 RR trades today on the GU ( not sure if they will be the same as paulus, different broker/pivots ) and one 1:1 loss. Hope this helps somewhat.

Balrog.
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.gif Size: 12 KB
  • #3,031
  • Jun 21, 2011 10:49am Jun 21, 2011 10:49am
Quoting frontline141
Look at the chart,

I short at M3, and the GBP has just "kissed" the Pivot Line
It looks like you may be causing yourself problems by trying to save space on your screen. The vertical red and green bars (histo) should be separate because you're covering up the MTF and can't see that some of the squares are green, not red. Separate the 2 and make them smaller. Also you can see that price made a LL, then a High, then a HL which suggests it may be changing direction, so you might expect a smaller TP. And you might need a different broker, or find a Hidden SL & TP EA and put your visible stops farther away.
  • #3,032
  • Jun 21, 2011 10:49am Jun 21, 2011 10:49am
Quoting balrog
Hi Frontline,

I'm sure Paulus will answer you but I attach my chart of trades on the GU. I got two 1:3 RR trades today on the GU ( not sure if they will be the same as paulus, different broker/pivots ) and one 1:1 loss. Hope this helps somewhat.

Balrog.
Thanks Balrog !

Here's the thing I'm confusing

For your first winning trade, the "Low" before yr trade is higher than the previous low, and the previous high is a higher high

so, to me , it is a Lower High, looking for long trade


and the second wining trade, its the same issue , it's not a "low" after a "higher high"

is that I have some misconcept?


thanks
  • #3,033
  • Jun 21, 2011 11:01am Jun 21, 2011 11:01am
Quoting ericjschroed
It looks like you may be causing yourself problems by trying to save space on your screen. The vertical red and green bars (histo) should be separate because you're covering up the MTF and can't see that some of the squares are green, not red. Separate the 2 and make them smaller. Also you can see that price made a LL, then a High, then a HL which suggests it may be changing direction, so you might expect a smaller TP. And you might need a different broker, or find a Hidden SL & TP EA and put your visible stops farther away.

Thanks for yr advice

but it's hard to know it's HL until it hit the SL

and I just try to win 1:1 only
  • #3,034
  • Jun 21, 2011 11:04am Jun 21, 2011 11:04am
Quoting frontline141
Hi Paulus, using yr broker and c lines ,in G/U , can u tell me why u dont trade short at 11:05 ? It should be " failed at Pivot Line and a LH after a LL "

And is that one of yr "+15 trade" is trading at 12:25" ? (because I cant see other possible +15 trade)

But aint there just is a "low" but not a "higher low" ? As the high was still lower than the previous high


thanks
there was no semaphore for me at 11.05 so no count and yes the +15% was at 12.20 long for me ..the other 15% was a short at 8.25pm

P
  • #3,035
  • Jun 21, 2011 11:04am Jun 21, 2011 11:04am
Took this trade like 5 hours ago but then took a nap so didnt post it but heres the screen shot of a long on EurUsd M15, It has already moved to my Risk:Reward TP area so i moved my SL to breakeven but im shooting for the Daily Range which says it could go aroiund 50 more pips or so.
Attached Image (click to enlarge)
Click to Enlarge Name: euro.jpg Size: 119 KB
  • #3,036
  • Jun 21, 2011 11:05am Jun 21, 2011 11:05am
Quoting balrog
Hi Frontline,

I'm sure Paulus will answer you but I attach my chart of trades on the GU. I got two 1:3 RR trades today on the GU ( not sure if they will be the same as paulus, different broker/pivots ) and one 1:1 loss. Hope this helps somewhat.

Balrog.
they are the same trades .. and the no trade at the X

P
  • #3,037
  • Edited 12:12pm Jun 21, 2011 11:07am | Edited 12:12pm
In trade

Short 94.20

Traders aiming for pivot (93.03)

Exit 93.30

Edit: As you can see from the third chart price was rejected at pivot before retracing back up to fail @ M3 (LH was 10 pips from M3) and about 20 from FIB R1.

Given this is clearly DT I would normally take this as price being blocked above and shorted with the pivot as target. I didnt as in the garden but I think this is a valid way to trade these levels even thoughs Dredds indicator did not produce a red arrow to sell. As you can see we high above us, followed by LHs and LLs below. The pivot has given way. Would appreciate any views, as this is the way I trade

Edit: When shorting NYMEX today I also shorted G/CHF ( a pair i like). I shorted @ 1.36853. This was under the days high achieved at the london open and was downtrend all session. As you can see (chart 4) FIBS1 provided support so I was antipcating shorts at todays highs. This is why I shorted at 16.46 GMT (17.46 on chart). This was before the BIG3 or red arrow had painted. For me this was failing $1.37 and was also failing todays high achieved this morning. I was in trade when oil started motoring whereas this was still making its mind up. I decided to focus on oil, very haapy wih that so exited for a few pips loss here. as u can see it when on to make +30. at the time i had daily pivots on so pivot was not showing at 1.36893, but it shows if u can identity the days turning points this can be very effective.

Thanks for input

ST
Attached Image(s) (click to enlarge)
Click to Enlarge Name: nymex220611.gif Size: 27 KB
Click to Enlarge Name: nymexcont220611.gif Size: 26 KB
Click to Enlarge Name: nymexm3fail220611.gif Size: 27 KB
Click to Enlarge Name: gchfpivotfail220611.jpg Size: 124 KB
" Dont wait for your boat to come in ..... swim out and meet it"
  • #3,038
  • Jun 21, 2011 11:10am Jun 21, 2011 11:10am
Quoting Paulus
GU +15%+15%
UC -5%+5%+5%+7%
EU -5% long from 1.4363
AU -5%

short UC 0.9720
A failure on UC -5%

the open EU just made 10%

GU +15%+15%
UC -5%+5%+5%+7%-5%
EU -5% +10%
AU -5%

ROC +37%
Attached Image (click to enlarge)
Click to Enlarge Name: d9.gif Size: 30 KB
  • #3,039
  • Jun 21, 2011 11:11am Jun 21, 2011 11:11am
Quoting frontline141
Thanks Balrog !

Here's the thing I'm confusing

For your first winning trade, the "Low" before yr trade is higher than the previous low, and the previous high is a higher high

so, to me , it is a Lower High, looking for long trade


and the second wining trade, its the same issue , it's not a "low" after a "higher high"

is that I have some misconcept?


thanks
Hi Frontline,

I'm only looking at the last 3 semafors so for the first trade I had a high-low-lower high then bounce off H3 and red HA. Same process with the other trades. Hope this helps.

Balrog.
  • #3,040
  • Jun 21, 2011 11:22am Jun 21, 2011 11:22am
Quoting balrog
Hi Frontline,

I'm only looking at the last 3 semafors so for the first trade I had a high-low-lower high then bounce off H3 and red HA. Same process with the other trades. Hope this helps.

Balrog.
thank you ! will try this way tomorrow
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