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Price Action Trading with Indicators! The Freebie System

  • #3,081
  • Jun 22, 2011 5:06am Jun 22, 2011 5:06am
Quoting Paulus
sorry Im confused by your post and the white dots make it hard to follow..we must have a HH and HL to start with for longs and a LH LL for a short

This is a classic 123 set up and can depict the strt of a trend couple that with support on pivot or break through pivot and we have a good chance of success

Some of your trade do not show this classic pattern

P
Paulus, sorry to confused you. I did not took all these trade. I was try to put YOUR UC trade on the chart from my understanding of this system , to see if I will make same entry as your.
and please see the attach indicator. it will give you alert, when each new semophor dot appear. not sure will help you to spot a trade.
Attached File(s)
File Type: ex4 #4X 3 Semafor Alert.ex4   11 KB | 570 downloads
  • #3,082
  • Jun 22, 2011 5:35am Jun 22, 2011 5:35am
That was a good trade! I hope for You also guys
Attached Image (click to enlarge)
Click to Enlarge Name: Névtelen.jpg Size: 243 KB
  • #3,083
  • Jun 22, 2011 7:04am Jun 22, 2011 7:04am
Quoting Lizardman
That was a good trade! I hope for You also guys
Lizardman,
I'm wondering how you decided to sell. Before the ZZ 3 H, I see a a purple ZZ higher L that would keep me waiting. Maybe you look only at the ZZ 3s?

Or maybe 3 failed attempts (we could even say 4 attempts) to go higher was a good enough signal for you?

DrDave
To free Gazans of Hamas, use whatever it takes.
  • #3,084
  • Jun 22, 2011 7:57am Jun 22, 2011 7:57am
Quoting freddi
Hi Paulus,

I use this site...it's free and works well for me.

Forex @ DailyFX - Mobile Price Alerts from DailyFX (http://www.dailyfx.com/charts/mobile_price_alerts/)

Freddi
Thanks I will take a look

cheers

P
  • #3,085
  • Jun 22, 2011 7:58am Jun 22, 2011 7:58am
Quoting Dredding82
The #OHLC indicator along with the HeikenAshiAlert indicator and the Freebie Signal Alert all have alerts added to them for when a HA changes from one color to another.... makes it easier then watching the charts none stop. Once you get the alert you just check the charts and see if the other rules were ment or not..........

Cheers dred I appreciate that

P
  • #3,086
  • Jun 22, 2011 8:00am Jun 22, 2011 8:00am
I am currently long EU from 1.4385
and short UC from 0.9740

P
  • #3,087
  • Jun 22, 2011 8:15am Jun 22, 2011 8:15am
Quoting DrDave
Lizardman,
I'm wondering how you decided to sell. Before the ZZ 3 H, I see a a purple ZZ higher L that would keep me waiting. Maybe you look only at the ZZ 3s?

Or maybe 3 failed attempts (we could even say 4 attempts) to go higher was a good enough signal for you?

DrDave

No. I checked all rules, and then decided!

- Failed at Pivot (R1)
- Semafor
- Stoch crossed
- HA candles closed RED (first from semafor)

But I think the picture tells everything

Or maybe am I wrong?

(Sorry for my bad english!)
  • #3,088
  • Jun 22, 2011 8:27am Jun 22, 2011 8:27am
I am now short GU from 1.6107

P
Attached Image (click to enlarge)
Click to Enlarge Name: d10.gif Size: 13 KB
  • #3,089
  • Jun 22, 2011 10:49am Jun 22, 2011 10:49am
Quoting Lizardman
No. I checked all rules, and then decided!

- Failed at Pivot (R1)
- Semafor
- Stoch crossed
- HA candles closed RED (first from semafor)

But I think the picture tells everything

Or maybe am I wrong?

(Sorry for my bad english!)
It looks like luck to me....but atleast you caught the breakout trade and looked to MAX profits. In my eyes trend was still up but there was a chart pattern......double top which turned into a triple top which is like a GOLD mine most times for nice reversal trade. If you do zoom out of the chart you can see price is going from the top left to the bottm right...so if you used that for trend then yes....TREND was down. Either which way GREAT TRADE! just be careful if you dont understand trend or have a good why to judge it. You and everyone one else should look into chart patterns and just take a mental note when looking at your trade setups they do help alot off of key levels.
  • #3,090
  • Jun 22, 2011 11:18am Jun 22, 2011 11:18am
I was busy with kids today so relegated to demo.

TBH I mucked about a bit, just for something to do and took some losses, which pissed me off a bit.

However, I got my "trading head" back on and got some nice trades on making back my losses to BE +10p for the day.

To be honest I did try a bit too hard to get my losses back (ie greed) and it was harder than it should have been, and had I kept to my original TP levels I would be comfortably up for the day

Anyway tomorrows another day as they say.

ST
" Dont wait for your boat to come in ..... swim out and meet it"
  • #3,091
  • Jun 22, 2011 11:37am Jun 22, 2011 11:37am
2 trades so far for today...
1. gbp/usd m15 short
2. usd/cad m15 long

BUT both weren´t failed clear at pivot.. gbp/usd was 2 Pips of the pivot and usd/cad was 0,5 pip of the pivot... but i think it´s still okay =)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusdm15.gif Size: 48 KB
Click to Enlarge Name: usdcadm15.gif Size: 48 KB
  • #3,092
  • Jun 22, 2011 11:47am Jun 22, 2011 11:47am
Quoting AndreyBecker
2 trades so far for today...
1. gbp/usd m15 short
2. usd/cad m15 long

BUT both weren´t failed clear at pivot.. gbp/usd was 2 Pips of the pivot and usd/cad was 0,5 pip of the pivot... but i think it´s still okay =)
Within 5-10 pips from a pivot is ok if your going with the trend....If you look back a candle or a few you can see there was a break of the pivots then a test after the break and the pivot held.
  • #3,093
  • Jun 22, 2011 11:58am Jun 22, 2011 11:58am
Quoting Dredding82
Within 5-10 pips from a pivot is ok if your going with the trend....If you look back a candle or a few you can see there was a break of the pivots then a test after the break and the pivot held.
okay thanks dred!
  • #3,094
  • Jun 22, 2011 12:35pm Jun 22, 2011 12:35pm
Quoting speedtrip
had I kept to my original TP levels I would be comfortably up for the day

Anyway tomorrows another day as they say.

ST
The red one applies

My trading methodology

 

  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

We all do it..

P

  • #3,095
  • Jun 22, 2011 1:08pm Jun 22, 2011 1:08pm
possible short trade on usd/chf m15..
  • #3,096
  • Jun 22, 2011 1:15pm Jun 22, 2011 1:15pm
Quoting Paulus
The red one applies

My trading methodology

[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...
Have saved this methodology to my phone and will print off later.. great list.

Balrog.
  • #3,097
  • Jun 22, 2011 1:54pm Jun 22, 2011 1:54pm
Quoting AndreyBecker
2 trades so far for today...
1. gbp/usd m15 short
2. usd/cad m15 long

BUT both weren´t failed clear at pivot.. gbp/usd was 2 Pips of the pivot and usd/cad was 0,5 pip of the pivot... but i think it´s still okay =)
1.gbp/usd: +10,6%
2. usd/cad: -4,7%

= +5,9%

EDIT: 3. usd/chf: -5,9%
  • #3,098
  • Jun 22, 2011 2:41pm Jun 22, 2011 2:41pm
Quoting Lizardman
No. I checked all rules, and then decided!

- Failed at Pivot (R1)
- Semafor
- Stoch crossed
- HA candles closed RED (first from semafor)

But I think the picture tells everything

Or maybe am I wrong?

(Sorry for my bad english!)
I think that you left out an important rule: identify trend direction. From what I can see on the pic you posted, the trend is up, not down. The higher low follwed by an equal high is not a confirmation of a down trend, and is also indicating the uptrend MIGHT be ending there. But maybe you don't consider the trend and just look for the 4 rules that you posted.

DrDave
To free Gazans of Hamas, use whatever it takes.
  • #3,099
  • Jun 22, 2011 3:01pm Jun 22, 2011 3:01pm
Great Stuff as usual Paulas

I remember this post from yonks back, time passes quickly, eh.

I would add one more to the list "dont trade when tired" but if i did that i would rarely trade. In fact yesterday when I came back in from working I had a cup of tea and then had a kip in the garden for an hour. I returned fighting fit and had a great afternoons trading.

EU down +70 as I type this.

Trade well and prosper all

ST



Quoting Paulus
The red one applies

My trading methodology

[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...
" Dont wait for your boat to come in ..... swim out and meet it"
  • #3,100
  • Jun 22, 2011 4:11pm Jun 22, 2011 4:11pm
This has been one of the busiest and toughest days for a long time..small movement means lots of signals close together and has been very difficult for me to control considering I do not place my trades within MT4

I am now going to bed as I feel very tired ...lols

I will do a break down tomorrow but the results are

16 signals for a gain of 8% ROC

Its been a tough one

hope you all done well

P
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