Price Action Trading with Indicators! The Freebie System | Page 161 | Forex Factory

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Price Action Trading with Indicators! The Freebie System

  • #3,201
  • Jun 26, 2011 12:07pm Jun 26, 2011 12:07pm
Price action with indicators!! Interesting name..

Can someone tell me why some system are described in trading journals and some in Interactive trading rather than "Trading system" folder?

Is there any restriction in "trading system" like no live trade and all?

Thanks
  • #3,202
  • Jun 26, 2011 12:11pm Jun 26, 2011 12:11pm
Quoting zentrader99
Price action with indicators!! Interesting name..

Can someone tell me why some system are described in trading journals and some in Interactive trading rather than "Trading system" folder?

Is there any restriction in "trading system" like no live trade and all?

Thanks
your guess is as good as mine !

P
  • #3,203
  • Jun 26, 2011 12:27pm Jun 26, 2011 12:27pm
Quoting ericjschroed
Right, that's what the Room Up and Room Down is, the expected distance if today's range is the same as the average. Notice that your calculation is one pip different than the Room Down of 51, so you are understanding it correctly.
So now knowing, I have 51 pips or so before before I hit the daily low, how do i use that to determine TP? Do I shoot for for a pivot line that falls closest to those 51 pips? I know that I will start a trade with a 1:1 R/R, once I break even, I can move my SL to BE, knowing that I still have some remaining pips to catch before I hit the Daily Low. Am I understanding that right?
Damn The Torpedoes, Full Speed Ahead!
  • #3,204
  • Jun 26, 2011 2:33pm Jun 26, 2011 2:33pm
Quoting Paulus
Thought Id post a quicky on stop loss placement

Most people, do this a*se about face for some reason

They take a position and say my pain threshold is $100 Im trading a full contract so that's 10pips...and they place their stop

But this is totally irrelevant because the stop loss ...any stop loss has to be placed in a technically good position ..not just your pain threshold away,you dont just dump it on the chart any where .. its a stop loss..its their to 'stop a loss' ..you have to give it as much chance of doing that as possible

See...
amazing advice as always Paulus, i'm so glad you post up here as well as everyone else! in retrospect i am quite guilty of illogical stop placement
  • #3,205
  • Jun 26, 2011 5:23pm Jun 26, 2011 5:23pm
Quoting DizzleFX
Wow Paulus, Im glad you posted that. I have searched all over the web for a detailed breakdown on how to figure out how many contracts i need and of what type to stay within what Im willing to risk. Although my threshold will be more like $3, and will be using a micro account, but it all makes since now. LOL! I happen to fall under that 76.78% on Dredds poll, that wants to quit my day job and make some real money and I believe that this will be part of the Smart MM that will help build a solid foundation. Thanks!
This tool is fantastic for quick lot sizing based on where your stop is.
Read this carefully-----put the ea in ea's---put the script in scripts.
When you see a trade developing drag the ea onto the chart. Drag the red stop line to the last high /low or wherever you want your stop. The ea will calculate the size of your trade based on how far the stop is from the price. You can set the amount you want to risk---default is 1%
As soon as you see the the entry is right drag the script onto the chart---it will automatically make a buy or sell depending on where the stop is in relation to price. Very fast and very easy. I use it all the time.
Attached File(s)
File Type: mq4 Visual_OrderSize_EA.mq4   5 KB | 514 downloads
File Type: mq4 Visual_Order_Trade.mq4   3 KB | 480 downloads
We are all One. Be present. Be the Observer
  • #3,206
  • Jun 26, 2011 5:34pm Jun 26, 2011 5:34pm
Clear DOWNTREND....
Attached Image (click to enlarge)
Click to Enlarge Name: euro.jpg Size: 114 KB
  • #3,207
  • Jun 26, 2011 5:49pm Jun 26, 2011 5:49pm
Quoting Iamfx
This tool is fantastic for quick lot sizing based on where your stop is.
Read this carefully-----put the ea in ea's---put the script in scripts.
When you see a trade developing drag the ea onto the chart. Drag the red stop line to the last high /low or wherever you want your stop. The ea will calculate the size of your trade based on how far the stop is from the price. You can set the amount you want to risk---default is 1%
As soon as you see the the entry is right drag the script onto the chart---it will automatically make a buy or sell depending...

Thanks IamFX, I will give it a shot.
Damn The Torpedoes, Full Speed Ahead!
  • #3,208
  • Jun 26, 2011 5:59pm Jun 26, 2011 5:59pm
Looks like EurUsd is testing has tested that M2 several times, and UsdChf is on a retracement from that Head and shoulders, time to get in!
Damn The Torpedoes, Full Speed Ahead!
  • #3,209
  • Jun 26, 2011 6:50pm Jun 26, 2011 6:50pm
Be interesting to see what the Euro does. I'm trying this on the H4 and it certainly looks like it has hit a level of support. If it can break through the lows of the last 2 Thursdays, like a double bottom, then it could be off and running.
  • #3,210
  • Jun 26, 2011 7:30pm Jun 26, 2011 7:30pm
Quoting DizzleFX
Looks like EurUsd is testing has tested that M2 several times, and UsdChf is on a retracement from that Head and shoulders, time to get in!
Looks like I was way out in left field!
Damn The Torpedoes, Full Speed Ahead!
  • #3,211
  • Jun 26, 2011 7:42pm Jun 26, 2011 7:42pm
Took this one around the same time as my EurUsd which Hit the TP already and this one is getting really close. Just posting now cause i had to make dinner earlier
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.jpg Size: 105 KB
  • #3,212
  • Jun 26, 2011 7:43pm Jun 26, 2011 7:43pm
Quoting DizzleFX
Looks like I was way out in left field!

Dont think about what the market MIGHT do....trust your indicators and making money is EASY!
  • #3,213
  • Jun 26, 2011 8:00pm Jun 26, 2011 8:00pm
Quoting Dredding82
Took this one around the same time as my EurUsd which Hit the TP already and this one is getting really close. Just posting now cause i had to make dinner earlier
Hey Dredd, what was the indication that this was going to head South. It looks like the candle closed above the pivot line. I could be drunk though!
Damn The Torpedoes, Full Speed Ahead!
  • #3,214
  • Jun 26, 2011 8:12pm Jun 26, 2011 8:12pm
Quoting DizzleFX
Hey Dredd, what was the indication that this was going to head South. It looks like the candle closed above the pivot line. I could be drunk though!

Fridays pivot still held.......if i changed my pivots to fib pivots im sure theres a pivot there for today
  • #3,215
  • Jun 26, 2011 8:40pm Jun 26, 2011 8:40pm
Hey Dredd, with your system, using the Stoch, do you consider the over bought and over sold areas of the indicator?
Damn The Torpedoes, Full Speed Ahead!
  • #3,216
  • Jun 26, 2011 9:00pm Jun 26, 2011 9:00pm
Quoting DizzleFX
Hey Dredd, with your system, using the Stoch, do you consider the over bought and over sold areas of the indicator?

If you have read the thread then you know the answer to that question already........
  • #3,217
  • Jun 26, 2011 9:06pm Jun 26, 2011 9:06pm
Read the thread twice, and happen to be on page 30 going on the third time, leaving no stone unturned. If I happened to miss that one stone, could you point me in the right direction?

Quoting Dredding82
If you have read the thread then you know the answer to that question already........
Damn The Torpedoes, Full Speed Ahead!
  • #3,218
  • Jun 26, 2011 9:08pm Jun 26, 2011 9:08pm
Quoting DizzleFX
Read the thread twice, and happen to be on page 30 going on the third time, leaving no stone unturned. If I happened to miss that one stone, could you point me in the right direction?

read the thread...................
  • #3,219
  • Jun 26, 2011 9:43pm Jun 26, 2011 9:43pm
Quoting DizzleFX
Hey Dredd, with your system, using the Stoch, do you consider the over bought and over sold areas of the indicator?
The answer is NO, but I can't find the post where he answered this either so I'll let you off the hook, just once . It's just this amazing memory I have (see signature).
  • #3,220
  • Jun 26, 2011 9:57pm Jun 26, 2011 9:57pm
Quoting Dredding82
[color=red]If you want to call me out on something/be rude or think i am wrong about something....LETS TAKE IT OUTSIDE THE THREAD,LIKE MEN!!(PM me)....Im sure i can PROVE to you how your wrong and im right!! I am here to HELP people not ARGUE WITH IMMATURE NEWBIES that dont know anything!! or IMMATURE OLD TRADERS [color=black]that are stuck in there OLD WAYS!(Cant Teach an OLD DOG NEW TRICKS!)...
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Damn The Torpedoes, Full Speed Ahead!
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