Price Action Trading with Indicators! The Freebie System | Page 175 | Forex Factory

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Price Action Trading with Indicators! The Freebie System

  • #3,481
  • Jul 6, 2011 6:28am Jul 6, 2011 6:28am
Going nice today,will probably stop for the day

GU: +5% , +3%, +4%, 9,5%
EU: -5%

Roi: 16,5%
  • #3,482
  • Jul 6, 2011 7:39am Jul 6, 2011 7:39am
Ok guys....Ive made my pips and calling it aday! Hope everyone else made some of these killer pips today! See ya guys later
  • #3,483
  • Jul 6, 2011 7:42am Jul 6, 2011 7:42am
Quoting Dredding82
Ok guys....Ive made my pips and calling it aday! Hope everyone else made some of these killer pips today! See ya guys later
See ya Dredding. Good work
  • #3,484
  • Jul 6, 2011 7:45am Jul 6, 2011 7:45am
Quoting Ultimatus
Dredding, I saw the video on stop trailing....how do you apply that? Do you move your stop on pullbacks on m15 or drop lower to m5 and trail it that way? I need to start doing this as I could have taken a lot more profit on that EU trade.
Ultimatus,

It is simple enough to just scroll back on your charts, find an appropriate run, and do an experiment of trailing a stop on any time frames that you wish to compare.

DrDave
To free Gazans of Hamas, use whatever it takes.
  • #3,485
  • Jul 6, 2011 7:57am Jul 6, 2011 7:57am
Seems like today would have been a good day to call in sick, so i could have stayed home and done some trading. I guess you never know how the market is gonna act each day.
Damn The Torpedoes, Full Speed Ahead!
  • #3,486
  • Jul 6, 2011 8:13am Jul 6, 2011 8:13am
Quoting DizzleFX
Seems like today would have been a good day to call in sick, so i could have stayed home and done some trading. I guess you never know how the market is gonna act each day.

OR... trade bigger charts, like H4 or D1! Depending on your location, you might be able to look for a set up before heading for work, during lunch, or right after quitting time.

DrDave
To free Gazans of Hamas, use whatever it takes.
  • #3,487
  • Jul 6, 2011 8:29am Jul 6, 2011 8:29am
Quoting Caillou
Long USD/CAD at 0.9645 (Aqua Line), SL: 0.9628 (last Low + 1)

1.- Semafor on Bottom
2.- Failed at Pivot
3.- Stoch crossed Up
4.- HA closed Green

5.- Trend is Up
6.- Average Daily Range (10): 78.8, Today: 37.5

Letīs see.........

TP hit, +22 pips, move SL to BE before news.......
  • #3,488
  • Jul 6, 2011 8:36am Jul 6, 2011 8:36am
Quoting DrDave
OR... trade bigger charts, like H4 or D1! Depending on your location, you might be able to look for a set up before heading for work, during lunch, or right after quitting time.

DrDave
I work to far from were i live, but everyday after quiting time i sit in front of my computer screen looking over that days chart while waiting on a setup. Hopefully the Asian session has half the action the London/US session had
Damn The Torpedoes, Full Speed Ahead!
  • #3,489
  • Jul 6, 2011 9:40am Jul 6, 2011 9:40am
+35 on GU
+35 on GBCHF
+10 on Oil (didnt take profits at TP)

ST
" Dont wait for your boat to come in ..... swim out and meet it"
  • #3,490
  • Jul 6, 2011 9:41am Jul 6, 2011 9:41am
Quoting DizzleFX
Seems like today would have been a good day to call in sick, so i could have stayed home and done some trading. I guess you never know how the market is gonna act each day.
EVERY day is a good day to call in sick!
  • #3,491
  • Jul 6, 2011 9:53am Jul 6, 2011 9:53am
Quoting ericjschroed
EVERY day is a good day to call in sick!
AMEN to that, bro'!

But after you reach full-time trader status, it's a non-issue.
To free Gazans of Hamas, use whatever it takes.
  • #3,492
  • Jul 6, 2011 10:08am Jul 6, 2011 10:08am
Quoting Caillou
TP hit, +22 pips, move SL to BE before news.......
I checked that USDCAD M15 chart...that was a nice setup using the Freebie system. Maybe consider trailing a stop, like in that video Dredding posted. (Of course in this specific trade, a trailing stop would have you out already.)

You see how easy this great system is? And it gets even better when you have gained experience and know to add in some other factors.

DrDave
To free Gazans of Hamas, use whatever it takes.
  • #3,493
  • Jul 6, 2011 10:22am Jul 6, 2011 10:22am
Quoting DrDave
I checked that USDCAD M15 chart...that was a nice setup using the Freebie system. Maybe consider trailing a stop, like in that video Dredding posted. (Of course in this specific trade, a trailing stop would have you out already.)

You see how easy this great system is? And it gets even better when you have gained experience and know to add in some other factors.

DrDave
Yes, really easy. Now as you said itīs a matter of experience. Itīs really interesting to see how price reacts similarly when it reaches pivot levels.....
  • #3,494
  • Jul 6, 2011 10:56am Jul 6, 2011 10:56am
Quoting BlueGas
Going nice today,will probably stop for the day

GU: +5% , +3%, +4%, 9,5%
EU: -5%

Roi: 16,5%

Nice wd

I lost 21% yesterday only 3rd time I think in around 6months ..I do some times wonder if 5% is too aggressive .... but keeping to it as I have grown comfortable using it

Today is different so far

GU +12+10= +22%
UC +13%
EU short from 1.4320
AU +10% -5% long from 1.0690

ROC = +40%

Just shows dont stop and take all the signals consistency ..think how I would of felt if I didnt trade today because of yesterday ?

P
  • #3,495
  • Jul 6, 2011 11:01am Jul 6, 2011 11:01am
Quoting Paulus
Nice wd

I lost 21% yesterday only 3rd time I think in around 6months ..I do some times wonder if 5% is too aggressive .... but keeping to it as I have grown comfortable using it

Today is different so far

GU +12+10= +22%
UC +13%
EU short from 1.4320
AU +10% -5% long from 1.0690

ROC = +40%

Just shows dont stop and take all the signals consistency ..think how I would of felt if I didnt trade today because of yesterday ?

P
Exactly, also some of your posts made me also think about it. R:R is a must,once you are in and set tp sl, you are basically free,the marketdoes the rest. mostly if countertrend im satisfied with 1:1, if with trend 1:2 or 1:3. Currently im long on usd/jpy with R:R 1:3
  • #3,496
  • Jul 6, 2011 11:09am Jul 6, 2011 11:09am
Quoting ericjschroed
EVERY day is a good day to call in sick!
I know thats right. Maybe oneday i will be working from home, until then its just a dream!
Damn The Torpedoes, Full Speed Ahead!
  • #3,497
  • Jul 6, 2011 12:11pm Jul 6, 2011 12:11pm
Quoting Paulus
Nice wd

I lost 21% yesterday only 3rd time I think in around 6months ..I do some times wonder if 5% is too aggressive .... but keeping to it as I have grown comfortable using it

Today is different so far

GU +12+10= +22%
UC +13%
EU short from 1.4320
AU +10% -5% long from 1.0690

ROC = +40%

Just shows dont stop and take all the signals consistency ..think how I would of felt if I didnt trade today because of yesterday ?

P
These are my 2 open trades

London has closed now so no more trades will be opened

The results for these 2 will be 1 of 3 outcomes

My TP is hit
My SL is hit
I close when i go to bed

The EU did hit around 12%
The AU has a large stop..pips wise but still only 5% of funds available at the time of the trade

I cannot close at the 1st Pivot as my rules states at least 1:1 RR to close at the 1st pivot only gives around 3% so now the 2nd rule comes in fixing my TP at 5% irrespective

I have marked this area with a blue line just below the H3 short pivot

P
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  • #3,498
  • Jul 6, 2011 12:43pm Jul 6, 2011 12:43pm
Quoting Paulus
Nice wd

I lost 21% yesterday only 3rd time I think in around 6months ..I do some times wonder if 5% is too aggressive .... but keeping to it as I have grown comfortable using it

Today is different so far

GU +12+10= +22%
UC +13%
EU short from 1.4320
AU +10% -5% long from 1.0690

ROC = +40%

Just shows dont stop and take all the signals consistency ..think how I would of felt if I didnt trade today because of yesterday ?

P
Yeah not bad paulus. :-D i got nearly the same results as you! Finally. :-)

Cheers
  • #3,499
  • Jul 6, 2011 12:50pm Jul 6, 2011 12:50pm
Quoting Paulus
These are my 2 open trades

London has closed now so no more trades will be opened

The results for these 2 will be 1 of 3 outcomes

My TP is hit
My SL is hit
I close when i go to bed

The EU did hit around 12%
The AU has a large stop..pips wise but still only 5% of funds available at the time of the trade

I cannot close at the 1st Pivot as my rules states at least 1:1 RR to close at the 1st pivot only gives around 3% so now the 2nd rule comes in fixing my TP at 5% irrespective

I have marked this area with a blue line just below the H3 short...
I'm also in that EU short, but based on the M15 with entry using M5. I'm experimenting with "00" numbers and 1/8's as my pivots. So I had what I call a fail just above the 1.4325 line that I shorted (in at 1.4326). My TP is the 1.4300 line. Risk:Reward 14:26.
DrDave
To free Gazans of Hamas, use whatever it takes.
  • #3,500
  • Jul 6, 2011 12:59pm Jul 6, 2011 12:59pm
Quoting Paulus

The EU did hit around 12%


P
Just a quick question Paulus if you don't mind, if the minimum you like to get is 1:1 why did you allow it to go to 12% up and then into loss, why didn't you move your stop loss to 5% profit or indeed take the 10-12%?
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