Price Action Trading with Indicators! The Freebie System | Page 176 | Forex Factory

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Price Action Trading with Indicators! The Freebie System

  • #3,501
  • Jul 6, 2011 1:12pm Jul 6, 2011 1:12pm
Quoting DrDave
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
Im with on the double 00s but what are the 1/8s ?.

Speed
" Dont wait for your boat to come in ..... swim out and meet it"
  • #3,502
  • Jul 6, 2011 2:21pm Jul 6, 2011 2:21pm
Quoting speedtrip
Im with on the double 00s but what are the 1/8s ?.

Speed
Depending on the timeframe, I take two 00 levels, e.g. 1.4200, 1.4300, and then divide into 1/4, or continue to 1/8s if slow and small moves. So at the moment, on the M5 and M15, I have the 1/4's: 1.4200, 1.4225, 1.4250. 1.4275, 1.4300, etc. Of course, those are absurdly small divisions on the H4 and higher, and too wide for the M1. So I have another chart that includes the 1/8's that I also check for the M1 and M5.

By the way, note that price reached that 1.4300 target
DrDave
To free Gazans of Hamas, use whatever it takes.
  • #3,503
  • Jul 6, 2011 11:48pm Jul 6, 2011 11:48pm
Took this trade a few hours ago, already moved my SL to BE since it has moved so far.....The early bird always gets the WORM!(Pips) lol
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  • #3,504
  • Jul 7, 2011 1:08am Jul 7, 2011 1:08am
Quoting ohammond
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%?

I only set to 5% when the next pivot from entry is to close,also in the thread I have said I do not move my SL at all

To move my SL to 5% after it has moved so far will only produce a series of trades that give me 5%

I need a better RR than that..many trades do come back to break even then go on to hit 15%

Try to find my post in this thread its all explained

cheers

P
  • #3,505
  • Jul 7, 2011 1:29am Jul 7, 2011 1:29am
Quoting Dredding82
Took this trade a few hours ago, already moved my SL to BE since it has moved so far.....The early bird always gets the WORM!(Pips) lol

If it takes out 1.5950.. and then 1.5990 you will make allot on that trade Dred
it should just fall off the cliff

its a good set up that for sure

P
  • #3,506
  • Jul 7, 2011 1:54am Jul 7, 2011 1:54am
Quoting Paulus
If it takes out 1.5950.. and then 1.5990 you will make allot on that trade Dred
it should just fall off the cliff

its a good set up that for sure

P

Im hoping so...We have ADP numbers today and NFP tomorrow so its about to go some where....wonder where....lol
  • #3,507
  • Jul 7, 2011 2:17am Jul 7, 2011 2:17am
Took this trade also a few hours ago around when i took the GbpUsd trade...its taking some time to come down so SL is still at the last high +spread.

I am only waiting to post my trades alittle later now so people do not try and copy my trades....I HATE LAZY PEOPLE! lol
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  • #3,508
  • Jul 7, 2011 2:22am Jul 7, 2011 2:22am
Just wondering....but did anyone enjoy any of the songs when i posted some of my trading music?
  • #3,509
  • Jul 7, 2011 2:26am Jul 7, 2011 2:26am
Quoting Dredding82
Just wondering....but did anyone enjoy any of the songs when i posted some of my trading music?
Love the Bruno Mars Billionaire one. Have it saved on my own Youtube as well and is listened to regularly.
  • #3,510
  • Jul 7, 2011 2:28am Jul 7, 2011 2:28am
Proof once again my trades are real as this is how many pips in profit each trade was in when the pic was taken.......BLAH!
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  • #3,511
  • Jul 7, 2011 2:30am Jul 7, 2011 2:30am
Quoting tritan
Love the Bruno Mars Billionaire one. Have it saved on my own Youtube as well and is listened to regularly.
Kool! Got to have the pick me up music somedays to remind you why you spend so many hours looking at a screen lol
  • #3,512
  • Jul 7, 2011 2:33am Jul 7, 2011 2:33am
Quoting Dredding82
Kool! Got to have the pick me up music somedays to remind you why you spend so many hours looking at a screen lol
Too true. It'll all be worth it in the end hopefully
  • #3,513
  • Jul 7, 2011 2:35am Jul 7, 2011 2:35am
Quoting tritan
Too true. It'll all be worth it in the end hopefully

Thats why i listen to the first one i posted over and over again it says there will peace when you are done....lol plus classic rock is killer anyways! "Carry On My Wayward Son" Post #3495
  • #3,514
  • Jul 7, 2011 2:56am Jul 7, 2011 2:56am
Quoting Dredding82
Took this trade a few hours ago, already moved my SL to BE since it has moved so far.....The early bird always gets the WORM!(Pips) lol
I'm fairly certain that DizzleFX also got on this pip-train, but he intends to ride the D1 circuit.

DrDave
To free Gazans of Hamas, use whatever it takes.
  • #3,515
  • Jul 7, 2011 4:51am Jul 7, 2011 4:51am
First of all my sincere thanks to Dredding for his generosity in sharing his system with us and for all the time his spends here. Also thanks to all the active members who share their insights.

A fair warning to all - I am an absolute Newb. Not only to FF but to trading. Until a couple of days ago I would not have known what a Fib Point was - even if it landed on my head. No doubt I will put my foot in it along the way - please bear with me.

I have patiently read all the posts - yes all 3,541 as of now. I have started my second read through making notes along the way so that I can have all the points easily at hand without the 'noise'.

SO, you are probably wondering what's my point. Well - I just want a couple of confirmations to make sure I have got everything straight.

First of all - the Indicators. From my reading I have got the following from FF downloading the latest files on the attachments list.

freebie newbie pa.tpl
freebie newbie.tpl

b-clock
ZigZag
3_Level_ZZ-Semafor
Daily Range Calculator
Support and Resistance (Simple)
Camarillav9-1by_lu
PivotsForFreebie
AutoSwitchingPivotsForFreebie
Stochastic Oscillator
Freebie Histo Signal
HeikenAshiAlertHeiken Ashi (HA CANDLES!!)

I am sure there are others - please let me know if I have missed anything important.

I am going to start trading micro lots on M1 and M5 to get in some leg time. Long term, I will move up to M15 and M30. Beyond that will really depends on how much patience I can exercise.

I have put in my first trade on M1 and I would appreciate if someone could let me know if I got it right - and if not, what I missed. My checklist for the trade was as follows:-


Trading with the trend (down in this case)
3 lights up on ZigZag
Fails at Pivot (closest I could see was Pivot line at 1.4356)
Waited for second candle to turn red
Stoch had crossed
Short at 1.43397
Closed Trade at 1.42992

If I have missed something, please do let me know - that's the only way I am going to be able to improve. Thanks in advance.

One thing I am not so clear on is whether 3 must always be painted on Zigzagfor the trade to be set up. Clarification on this would be great.

The picture below was taken off my Demo account.

Sorry for the long post - will make sure it doesn't happen again.
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  • #3,516
  • Jul 7, 2011 4:57am Jul 7, 2011 4:57am
Hello Dredding82,

I think this is a great system and would love to start using it with my live account.

I know you mentioned to PM you for the indicators that are on your chart, but I cannot due to my membership. Can you post or send me the indicators or just their names?

Thank you,
Nehad
  • #3,517
  • Jul 7, 2011 5:44am Jul 7, 2011 5:44am
Quoting nibrahim
Hello Dredding82,

I think this is a great system and would love to start using it with my live account.

I know you mentioned to PM you for the indicators that are on your chart, but I cannot due to my membership. Can you post or send me the indicators or just their names?

Thank you,
Nehad

Shows you didnt even read the thread or POST #1....IGNORE!
  • #3,518
  • Jul 7, 2011 5:48am Jul 7, 2011 5:48am
Quoting nibrahim
Hello Dredding82,

I think this is a great system and would love to start using it with my live account.

I know you mentioned to PM you for the indicators that are on your chart, but I cannot due to my membership. Can you post or send me the indicators or just their names?

Thank you,
Nehad
Oh cmon, is it so hard to use google? if thats too hard, maybe trading is also, put some effort in...
  • #3,519
  • Jul 7, 2011 5:49am Jul 7, 2011 5:49am
Quoting jasjit
First of all my sincere thanks to Dredding for his generosity in sharing his system with us and for all the time his spends here. Also thanks to all the active members who share their insights.

A fair warning to all - I am an absolute Newb. Not only to FF but to trading. Until a couple of days ago I would not have known what a Fib Point was - even if it landed on my head. No doubt I will put my foot in it along the way - please bear with me.

I have patiently read all the posts - yes all 3,541 as of now. I have started my second read through...
RE Read the thread...THE ANSWER IS there...ANSWERED i would say 100 TIMES!
  • #3,520
  • Jul 7, 2011 5:54am Jul 7, 2011 5:54am
DO NOT post on this thread with questions about OTHER indicators ...THEY ARE NOT NEEDED! I DO NOT add other indicators then find new ones like other thread starters!!!DO NOT ask me if i trade this or if it is profitable! ...look at the other thread i started....ALL ANSWERS are there....DO NOT post asking for the indicators..DO NOT post asking others for indicators, PM THEM!!.IF you DO NOT know what is on my charts PM me...these indicators ARE FREE and CAN ALL be SEARCHED AND FOUND on this forum or any other forum about investing! KEEP THIS THREAD CLEAN OF BS QUESTIONS!!!! PLEASE!!

** IF YOU DO ANY OF THE ABOVE YOU WILL BE PUT ON IGNORE!**

**What is a BS question you ask? ANY QUESTION THAT HAS ALREADY BEEN ANSWERED MORE THEN ONE(1) TIME!**


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