Price Action Trading with Indicators! The Freebie System | Page 165 | Forex Factory

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Price Action Trading with Indicators! The Freebie System

  • #3,281
  • Jun 28, 2011 4:10am Jun 28, 2011 4:10am
Quoting oblo
It didnt work. SL taken. I still have to figure out how to determine the right tp.

Hmmmm...........seems people NEED TO LISTEN! you MUST switch PIVOTS! From standard to fib pivots! which ever one HITS FIRST USE IT! along with the daily range..........
  • #3,282
  • Jun 28, 2011 4:12am Jun 28, 2011 4:12am
Quoting balrog
First trade today on the AU, hoping to get to H3 and 2%. Still in it and hoping to claw back some of yesterdays damage.

Balrog.
What happens when EurUsd moves down? AudUsd moves DOWN.......what happens whe AudUsd MOVES down..........EurUsd MOVES DOWN.............
  • #3,283
  • Jun 28, 2011 4:13am Jun 28, 2011 4:13am
Selling on the 15 minute chart and taking profit at the pivot/.382 fib level. Stop is set at breakeven.
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  • #3,284
  • Jun 28, 2011 4:15am Jun 28, 2011 4:15am
Quoting DrDave
I took a similar short on the EURUSD (It was NOT acccording to the rules of the thread--no failed pivot. I used prior S/R areas for the entry after lower H and break of prior low). I set TP to 5 pips above the Pivot line. Price came down only to 8 pips above the pivot, then made this big up move and stopped out.

The "rules" in this thread for the Freebie system are to set TP to the next Pivot line OR an obvious area of S/R.

DrDave

Edit: By the way, I looked closely at your chart. I have the the midpivots displayed, but you do not. If you...
NO!.............THE "RULES" state TP= 1:1-1:4 Risk:Reward......and use the DAILY RANGE! Very simple rules when you get USED to changing with the markets DAILY RANGE! lol
  • #3,285
  • Jun 28, 2011 4:19am Jun 28, 2011 4:19am
SELL
Trade With The Trend
1) ZZ Semafor On TOP(Within 1-3 Candles)
2) Failed At Pivot
3) Stoch Crossed DOWN
4) HA Candle Closed RED
SL= Last High(ZZ Semafor Dot)
TP= 1:1-1:4(risk/reward) or Use Other Pivots(The Daily Range indicator will tell you what pivot to MAX PROFITS)
DONT BE GREEDY!

BUY
Trade With The Trend
1) ZZ Semafor On BOTTOM(Within 1-3 Candles)
2) Failed At Pivot
3) Stoch Crossed UP
4) HA Candle Closed GREEN
SL= Last Low(ZZ Semafor Dot)
TP= 1:1-1:4(risk/reward) or Use Other Pivots(The Daily Range indicator will tell you what pivot to MAX PROFITS)
DONT BE GREEDY!
  • #3,286
  • Jun 28, 2011 4:23am Jun 28, 2011 4:23am
In other WORDS..........it is all about MM........MONEY MANAGEMENT!
  • #3,287
  • Jun 28, 2011 4:29am Jun 28, 2011 4:29am
The markets change everyday.....every hour.......EVERY MINUTE! why do so many people think they are going to find a drop and PROFIT system? Well the simple answer is......THEY ARE LAZY. NO BS! Come on guys...how many people have you seen ask for they indicators and they are all listed and posted in this thread..........Everyone wants to make a MILLION OVER NIGHT! not going to happen...........WATCH THE CHARTS......it is the only way to really learn the markets.
  • #3,288
  • Jun 28, 2011 4:31am Jun 28, 2011 4:31am
Quoting DrDave
I took a similar short on the EURUSD (It was NOT acccording to the rules of the thread--no failed pivot. I used prior S/R areas for the entry after lower H and break of prior low). I set TP to 5 pips above the Pivot line. Price came down only to 8 pips above the pivot, then made this big up move and stopped out.

The "rules" in this thread for the Freebie system are to set TP to the next Pivot line OR an obvious area of S/R.

DrDave

Edit: By the way, I looked closely at your chart. I have the the midpivots displayed, but you do not. If you...
Good POINT DrDave!...........ALL PIVOTS.........Even mid pivots you MUST USE!
  • #3,289
  • Jun 28, 2011 4:36am Jun 28, 2011 4:36am
Quoting DrDave
I took a similar short on the EURUSD (It was NOT acccording to the rules of the thread--no failed pivot. I used prior S/R areas for the entry after lower H and break of prior low). I set TP to 5 pips above the Pivot line. Price came down only to 8 pips above the pivot, then made this big up move and stopped out.

The "rules" in this thread for the Freebie system are to set TP to the next Pivot line OR an obvious area of S/R.

DrDave

Edit: By the way, I looked closely at your chart. I have the the midpivots displayed, but you do not. If you...

Does your broker use SPREAD? if so what was the SPREAD? Learn to use SPREAD as part of your GAME............DONT FOLLOW YOUR BROKERS LEAD!
  • #3,290
  • Jun 28, 2011 4:51am Jun 28, 2011 4:51am
Quoting Dredding82
Does your broker use SPREAD? if so what was the SPREAD? Learn to use SPREAD as part of your GAME............DONT FOLLOW YOUR BROKERS LEAD!
The spread was 2 points.
To free Gazans of Hamas, use whatever it takes.
  • #3,291
  • Jun 28, 2011 5:17am Jun 28, 2011 5:17am
Quoting Dredding82
WATCH THE CHARTS......it is the only way to really learn the markets.
Couldn't agree more.
  • #3,292
  • Jun 28, 2011 5:38am Jun 28, 2011 5:38am
yes, if I did in the way u suggest, it would have been a profit now. No doubts!


Quoting Dredding82
Hmmmm...........seems people NEED TO LISTEN! you MUST switch PIVOTS! From standard to fib pivots! which ever one HITS FIRST USE IT! along with the daily range..........
  • #3,293
  • Jun 28, 2011 7:38am Jun 28, 2011 7:38am
Quoting balrog
First trade today on the AU, hoping to get to H3 and 2%. Still in it and hoping to claw back some of yesterdays damage.

Balrog.
Missed SL by a couple of pips and went to TP.. made my 2% but have lost elsewhere.. Currently long on eu and hoping she has some legs.
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  • #3,294
  • Jun 28, 2011 7:59am Jun 28, 2011 7:59am
Have also taken 2% on the eu trade.. I got out early (I know it's not what I should do) as it had a long way to go for 3% while meeting some historical resistance and 2% looks better in my account after yesterdays trials. +1% so far for the day.
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  • #3,295
  • Jun 28, 2011 8:07am Jun 28, 2011 8:07am
I havent posted for since friday so lots of posts to catchup.

Had exellent days friday and monday bit could do with a bit of help on NYMEX see charts below.

First time as PC today so not trading yet

As you can see pivot has provided support at London open and offered long trade which has bounced off FIB R3.

My only concern is the trend as Oil has been very bearish of recent.

I see

M5 up
M15 up
H1 down (you can also see FIB 3 area failed 23/6 @ 11pm GMT +1)

Looking back I believe the long trade off the pivot is countertrend so this would be a more risky trade and against the overall trend, even tho I would have been tempted and swapped on failure.

The safer approach is to wait for failure (at FIB R1) and sell of that (offering +50 at the moment with S2 just below).

Would appreciate any input as my heads a bit wooley today with head cold

Thanks guys

ST
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" Dont wait for your boat to come in ..... swim out and meet it"
  • #3,296
  • Jun 28, 2011 10:57am Jun 28, 2011 10:57am
Because of work, I only get to play the Aus/Asian market and im not getting much action. Im just curious if anyone is having any luck with those markets, if so what pairs. Might need to just try a higher time frame.
Damn The Torpedoes, Full Speed Ahead!
  • #3,297
  • Jun 28, 2011 11:08am Jun 28, 2011 11:08am
Yes, I too have similar issues and am trying it on H4 right now. Trading the Asian session is usually, but not always, about as exciting as trading the D1. Even on the M5 or M15 you can check your charts about once an hour or more, although occasionally there will be a nice move that you might miss unless you have the alerts on. I have to get up twice every night to check the charts but if I start making money, I guess I can live with that for now.
  • #3,298
  • Jun 28, 2011 11:25am Jun 28, 2011 11:25am
Quoting ericjschroed
Yes, I too have similar issues and am trying it on H4 right now. Trading the Asian session is usually, but not always, about as exciting as trading the D1. Even on the M5 or M15 you can check your charts about once an hour or more, although occasionally there will be a nice move that you might miss unless you have the alerts on. I have to get up twice every night to check the charts but if I start making money, I guess I can live with that for now.
I think thats what im gonna start looking into. About how many trades do you make in a week?
Damn The Torpedoes, Full Speed Ahead!
  • #3,299
  • Jun 28, 2011 11:53am Jun 28, 2011 11:53am
ended up losing 12% yesterday...

But up 10% today after 8 trades over 4 swaps have ditched gold I spent 30mins looking back yest and didnt like the look of it at all..

Short currently EU from 1.4365 and this will be a 15% TP as the next pivot down is in the next solar system...

Cheers

P
  • #3,300
  • Jun 28, 2011 11:55am Jun 28, 2011 11:55am
Does anyone else have a problem with ZZ semafor slowing their platform down to a crawl?
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