Price Action Trading with Indicators! The Freebie System | Page 182 | Forex Factory

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Price Action Trading with Indicators! The Freebie System

  • #3,621
  • Jul 8, 2011 6:47am Jul 8, 2011 6:47am
Quoting Dredding82
Well everyone should remember i do only risk 1%-2%(or less) per trade 5% max with all open orders and i average around 10%-20% capital gain per week. Once i hit my % goal i set my SL to BE or where i can not lose my % gain and leave it alone to either reverse and hit the SL or hit TP.

A 1% risk per trade is totally reasonable, is what I'm doing right now. In this way you will live bad days really comfortable.....
  • #3,622
  • Edited 7:53am Jul 8, 2011 7:43am | Edited 7:53am
My NFP EurUsd Trade using the Freebie PRO System....lets see if Euro comes back down even after that bad news....if not oh well..It works 70% of the time lol guess this will be one of the 30% times it doesnt
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  • #3,623
  • Jul 8, 2011 8:54am Jul 8, 2011 8:54am
Quoting Dredding82
My NFP EurUsd Trade using the Freebie PRO System....lets see if Euro comes back down even after that bad news....if not oh well..It works 70% of the time lol guess this will be one of the 30% times it doesnt
Should you factor in this fact as well?

Quote
it has hit the low of the Daily Range
Plus, it made a double bottom.
DrDave
To free Gazans of Hamas, use whatever it takes.
  • #3,624
  • Jul 8, 2011 9:33am Jul 8, 2011 9:33am
i love forex and i love this amazing strategy

GU: -4,1%, +5%
EU: +15%, +7,4%
UC: +12%
AU: +2,3%

total: +41,5%

the best week in all my "forex-career"..

the last AU-trade a closed earlier, because of the double-bottom and i´m full of emotiones at the moment.. i think it is better to stop trading for today
  • #3,625
  • Jul 8, 2011 9:40am Jul 8, 2011 9:40am
EURUSD M5
Just snatched up a quick 19 pips on this down move from a double top.
Add that to earlier 16 pips, and I'm over my daily goal. (Now time to close the charts and concentrate on my consulting job. LOL)

Kudos to Dredding for this freebie system and all the free info and indicators.

DrDave
To free Gazans of Hamas, use whatever it takes.
  • #3,626
  • Jul 8, 2011 9:42am Jul 8, 2011 9:42am
Quoting AndreyBecker
i love forex and i love this amazing strategy

GU: -4,1%, +5%
EU: +15%, +7,4%
UC: +12%
AU: +2,3%

total: +41,5%

the best week in all my "forex-career"..

the last AU-trade a closed earlier, because of the double-bottom and i´m full of emotiones at the moment.. i think it is better to stop trading for today
Hey Andrey, that's an outstanding job! Do that again next week, pal.

DrDave
To free Gazans of Hamas, use whatever it takes.
  • #3,627
  • Jul 8, 2011 9:46am Jul 8, 2011 9:46am
Quoting AndreyBecker
the last AU-trade a closed earlier, because of the double-bottom and i´m full of emotiones at the moment.. i think it is better to stop trading for today
Well, did you meet your daily goal? Then of course you're done.
If not, did you meet your weekly goal? Then of course you're done.
(I will guess that making your best career result for the week means that you exceeded your weekly goal.)

DrDave
To free Gazans of Hamas, use whatever it takes.
  • #3,628
  • Jul 8, 2011 9:46am Jul 8, 2011 9:46am
Quoting DrDave
Hey Andrey, that's an outstanding job! Do that again next week, pal.

DrDave
thanks dave! i see you are okay too have a good weekend!

cheers
  • #3,629
  • Jul 8, 2011 9:48am Jul 8, 2011 9:48am
Quoting AndreyBecker
i love forex and i love this amazing strategy

GU: -4,1%, +5%
EU: +15%, +7,4%
UC: +12%
AU: +2,3%

total: +41,5%

the best week in all my "forex-career"..

the last AU-trade a closed earlier, because of the double-bottom and i´m full of emotiones at the moment.. i think it is better to stop trading for today
Hi Andrey,

Do you risk 5% per trade on a live account?

Thank you
  • #3,630
  • Edited 10:19am Jul 8, 2011 9:52am | Edited 10:19am
Who would have thought EurUsd it would go SO HIGH just to have it come RIGHT back DOWN? Not me says the newbie trader lol
  • #3,631
  • Jul 8, 2011 9:54am Jul 8, 2011 9:54am
Quoting DrDave
Should you factor in this fact as well?


Plus, it made a double bottom.
DrDave
These trades were made using the Freebie PRO System....So no to both questions...

I trade with the TREND....and use S&R with R:R
  • #3,632
  • Jul 8, 2011 9:56am Jul 8, 2011 9:56am
Quoting Caillou
Hi Andrey,

Do you risk 5% per trade on a live account?

Thank you
yes, for the first time... after 1 or 2 monthes i will reduce it to 2 or 3%

cheers
  • #3,633
  • Jul 8, 2011 10:01am Jul 8, 2011 10:01am
Quoting AndreyBecker
i love forex and i love this amazing strategy

GU: -4,1%, +5%
EU: +15%, +7,4%
UC: +12%
AU: +2,3%

total: +41,5%

the best week in all my "forex-career"..

the last AU-trade a closed earlier, because of the double-bottom and i´m full of emotiones at the moment.. i think it is better to stop trading for today
Told ya FULL TIME TRADER in no time! lol

Great Trading man!
  • #3,634
  • Jul 8, 2011 10:08am Jul 8, 2011 10:08am
I dont know why i trade NFP Fridays.....Oh YEA cause i LOVE THE PIPS! banked a few hundred pips and didnt do anything but place a few limit orders....

Great trading guys! Glad to see the newer guys making them PIPS i always talk about FLOWING IN!

Call it a week and enjoy your weekend!
  • #3,635
  • Jul 8, 2011 10:21am Jul 8, 2011 10:21am
Quoting DrDave
EURUSD M5
Just snatched up a quick 19 pips on this down move from a double top.
Add that to earlier 16 pips, and I'm over my daily goal. (Now time to close the charts and concentrate on my consulting job. LOL)

Kudos to Dredding for this freebie system and all the free info and indicators.

DrDave
Great job DrDave!

Yea you better get to your JOB or your going to get fired lmao
  • #3,636
  • Jul 8, 2011 10:52am Jul 8, 2011 10:52am
Quoting AndreyBecker
yes, for the first time... after 1 or 2 monthes i will reduce it to 2 or 3%

cheers
Amazing results!!!! Congratulations!!! For now I' m happy with 1-2% per trade.....anyway bigger risk bigger reward...
  • #3,637
  • Jul 8, 2011 10:57am Jul 8, 2011 10:57am
I have been lurking for a while not because of the strategy per se but because its probably only one of a thousand threads here on FF that puts RR and the law of probabilities first and foremost as the core of this simple strategy, and its really great to see people getting it. Well done guys and keep it up. Dredding and Paulus are exemplary traders. Respect to you both

Mark Douglas quote below for those that need a little help :

"Traders who have learned to think in probabilities are confident of their overall success, because they commit themselves to taking every trade that conforms to their definition of an edge.

They don’t attempt to pick and choose the edges they think, assume, or believe are going to work and act on those; nor do they avoid the edges that for whatever reason they think, assume, or believe aren’t going to work. If they did either of those things, they would be contradicting their belief that the “now” moment situation is always unique, creating a random distribution between wins and losses on any given string of edges. They have learned, usually quite painfully, that they don’t know in advance which edges are going to work and which ones aren’t. They have stopped trying to predict outcomes.

They have found that by taking every edge, they correspondingly increase their sample size of trades, which in turn gives whatever edge they use ample opportunity to play itself out in their favor, just like the casinos.

On the other hand, why do you think unsuccessful traders are obsessed with market analysis. They crave the sense of certainty that analysis appears to give them. Although few would admit it, the truth is that the typical trader wants to be right on every single trade.

He is desperately trying to create certainty where it just doesn’t exist. The irony is that if he completely accepted the fact that certainty doesn’t exist, he would create the certainty he craves: He would be absolutely certain that certainty doesn’t exist. When you achieve complete acceptance of the uncertainty of each edge and the uniqueness of each moment, your frustration with trading will end. Furthermore, you will no longer be susceptible to making all the typical trading errors that detract from your potential to be consistent and destroy your sense of self-confidence".
Mark Douglas
  • #3,638
  • Jul 8, 2011 11:06am Jul 8, 2011 11:06am
Quoting Porkpie
I have been lurking for a while not because of the strategy per se but because its probably only one of a thousand threads here on FF that puts RR and the law of probabilities first and foremost as the core of this simple strategy, and its really great to see people getting it. Well done guys and keep it up. Dredding and Paulus are exemplary traders. Respect to you both

Mark Douglas quote below for those that need a little help :

"Traders who have learned to think in probabilities are confident of their overall success, because...

Yes, I read "Trading in the Zone" a few months ago. It's like Mark Douglas was thinking in this thread when he wrote it.......
  • #3,639
  • Jul 8, 2011 11:24am Jul 8, 2011 11:24am
Quoting Dredding82
Great job DrDave!

Yea you better get to your JOB or your going to get fired lmao
Thanks.

Yea, well, as they say, "A chemist's work is never done". LOL

But I don't have a typical ball-and-chain mind-numbing JOB: I do consulting so I do a lot of technical writing from home.

DrDave
To free Gazans of Hamas, use whatever it takes.
  • #3,640
  • Jul 8, 2011 11:47am Jul 8, 2011 11:47am
Quoting AndreyBecker
i love forex and i love this amazing strategy

GU: -4,1%, +5%
EU: +15%, +7,4%
UC: +12%
AU: +2,3%

total: +41,5%

the best week in all my "forex-career"..

the last AU-trade a closed earlier, because of the double-bottom and i´m full of emotiones at the moment.. i think it is better to stop trading for today
Wd .. the system loads the gun and aims we jut pull the trigger

Great result

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