Price Action Trading with Indicators! The Freebie System | Page 184 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Freebie 1 min trading method 1,227 replies

Naked Trading Using Price Action (No Indicators) 32 replies

Pure Price Action Trading - NO lines or indicators 49 replies

Help adding a filter to the Freebie Indicator 3 replies

EUR/USD Trading Price Action System 2 replies

Attachments: Price Action Trading with Indicators! The Freebie System
Exit Attachments

Price Action Trading with Indicators! The Freebie System

  • #3,661
  • Jul 9, 2011 7:45am Jul 9, 2011 7:45am
Quoting Porkpie
Nicely done Paulus.

Whislt I am on the subject here's more food for thought: http://www.moneyshow.com/video/video.asp?wid=7183&t=3&scode=010473

so Marty Schwartz makes 1000% per year. Paulus, are you up to the challenge?
Lol i think paulus has already blown this guy out the water..haha
No man is free who is not a master of himself. -P.M.-
  • #3,662
  • Jul 9, 2011 11:35am Jul 9, 2011 11:35am
Quoting Porkpie
Nicely done Paulus.

Whislt I am on the subject here's more food for thought: http://www.moneyshow.com/video/video.asp?wid=7183&t=3&scode=010473

so Marty Schwartz makes 1000% per year. Paulus, are you up to the challenge?
Good video, as well as an overall really good website. Its now bookmarked. Thanx!

I feel that 1000% per year, is not as hard as people make it out to be. At 2% increase a day and you let your wins compound, you should be able to reach that number. Granted you win some you lose some, but still if you are using MM, you will be close. Now Mark Schwartz did it with $1Million of his own money, so maybe considering a psychological perspective, because of the amount of money and extreme discipline, he was happy with 1000%.

Im just a newb, with a demo account, coming no were even close to 1000% per year, but with the returns ive seen Dredding and Paulus make, I know its not that hard once you figure it all out.
Damn The Torpedoes, Full Speed Ahead!
  • #3,663
  • Jul 9, 2011 12:54pm Jul 9, 2011 12:54pm
Quoting AndreyBecker
thanks, was a little bit surprised because of the 15% trade =) did you set your tp to 15% because of the NFP?
To be honest I miscalculated my TP ..I set both the TP and the SL and just walked away for a drink ..it happens some times mainly on slippage on the SB account but this was a genuine mistake

P
  • #3,664
  • Jul 9, 2011 1:03pm Jul 9, 2011 1:03pm
Quoting Porkpie
Nicely done Paulus.

Whislt I am on the subject here's more food for thought: http://www.moneyshow.com/video/video.asp?wid=7183&t=3&scode=010473

so Marty Schwartz makes 1000% per year. Paulus, are you up to the challenge?
Ive been asked to trade accounts for people,write a book on successful trading systems and enter competitions..lols

I dont do any ..I feel i would be pushing my luck ,people like to see you crash and burn that and the fact I wouldn't want to disappoint any one

Cheers

P
  • #3,665
  • Jul 9, 2011 3:10pm Jul 9, 2011 3:10pm
Quoting Paulus
My thought process of a trade on 5min

Cant get more mechanical than this

P
Paulus, I'm going through your previous posts (pearls of wisdom?) to clarify in my mind your simple version of this system. The post quoted here is definitely "a picture that says 1000 words" or pretty much encapsulates your whole system in about 25 words or so, but I would appreciate a little clarification on a few points.

First: when you determine a pivot rejection, how close, or rather how far is too far away? 5 pips, 10 pips, gut feel?

Second: if you get a pivot rejection, how far away or how many bars later will you still consider an entry signal?

Third: in your picture you label the next ZZ semafor after the first LL3 as a LH, but doesn't the LL3 followed by another dot most likely signal a reversal? You didn't place a trade in this example but in your last dozen or so chart pics you took 3 such trades and every one was a loss. Perhaps that's not the best place to take a trade?

(for anyone who doesn't know, clicking the little arrow next to the name quoted will take you right to the quoted post.)
  • #3,666
  • Jul 10, 2011 5:09am Jul 10, 2011 5:09am
You guys have been busy here, while I was away. Took me about 5 hours to go through last 3 weeks of the thread. Really good stuff and looks like youve been making some pips.

Well it´s my turn now so be prepared to give them to me.........
  • #3,667
  • Jul 10, 2011 5:13am Jul 10, 2011 5:13am
http://www.youtube.com/watch?v=fLexgOxsZu0
  • #3,668
  • Jul 10, 2011 5:29am Jul 10, 2011 5:29am
Quoting Whistlepips
You guys have been busy here, while I was away. Took me about 5 hours to go through last 3 weeks of the thread. Really good stuff and looks like youve been making some pips.

Well it´s my turn now so be prepared to give them to me.........

WB man....hope you enjoyed the time off with the wife.
  • #3,669
  • Jul 10, 2011 6:52am Jul 10, 2011 6:52am
Quoting Dredding82
WB man....hope you enjoyed the time off with the wife.
Yes I did. Really great holiday trip.
  • #3,670
  • Jul 10, 2011 9:28am Jul 10, 2011 9:28am
Quoting ericjschroed
Paulus, I'm going through your previous posts (pearls of wisdom?) to clarify in my mind your simple version of this system. The post quoted here is definitely "a picture that says 1000 words" or pretty much encapsulates your whole system in about 25 words or so, but I would appreciate a little clarification on a few points.

First: when you determine a pivot rejection, how close, or rather how far is too far away? 5 pips, 10 pips, gut feel?

Second: if you get a pivot rejection, how far away or how many bars later will you still consider...
1st - Good question only been asked a few times but crucial and the only part of my trading atm that is fuzzy ..I am working on a definitive rule for his but for a long the low must be in the bottom 5th of the 2 pivot lines and visa versa for shorts..I will try and tighten it to a more definite rule

2nd - Has to be on the change of HA ie we get rejection on a pivot beneath us but HA is red when it goes white we enter... as long as all rules apply ..basically on change of colour on HA if you look at all my entry candles this is so

Will answer your 3rd point later as getting called to go out

hope it helps and dont let me forget the last question !

P
  • #3,671
  • Jul 10, 2011 11:03am Jul 10, 2011 11:03am
What the hell has to be done to get from 4 to 5 starts lols

P
  • #3,672
  • Jul 10, 2011 11:10am Jul 10, 2011 11:10am
Quoting ericjschroed

Third: in your picture you label the next ZZ semafor after the first LL3 as a LH, but doesn't the LL3 followed by another dot most likely signal a reversal? You didn't place a trade in this example but in your last dozen or so chart pics you took 3 such trades and every one was a loss. Perhaps that's not the best place to take a trade?
Ive looked at all signals on a daily basis to try and grade them A B C for effectiveness..also Ive looked at the prior days moves to try and indicate what swap is best to trade the following day..

Conclusion... There is no definit pattern 3 may of failed for -15% in the past but 1 win of 15% gets you back to break even.. On a system with a max 1:1 risk reward I grant you ...you need to grade out signals but this is different from the norm..it gives you the chance to take the larger TP

P
  • #3,673
  • Jul 10, 2011 12:33pm Jul 10, 2011 12:33pm
Quoting Paulus
2nd - Has to be on the change of HA ie we get rejection on a pivot beneath us but HA is red when it goes white we enter... as long as all rules apply ..basically on change of colour on HA if you look at all my entry candles this is so
Ok, I didn't ask this question right. Since you place your stop below the last dot, what if your pivot rejection and then entry signal is 60 pips away from the last dot? It seems to me that is too far. In other words, do you have a max SL?

E
  • #3,674
  • Jul 10, 2011 1:01pm Jul 10, 2011 1:01pm
Quoting ericjschroed
Ok, I didn't ask this question right. Since you place your stop below the last dot, what if your pivot rejection and then entry signal is 60 pips away from the last dot? It seems to me that is too far. In other words, do you have a max SL?

E

No its always 5% irrespective of pip size..as long as the signal qualifies under the other parameters I take it

5 pip or 100pip my max loss will still be 5%

P
  • #3,675
  • Jul 10, 2011 2:49pm Jul 10, 2011 2:49pm
Quoting Paulus
First: when you determine a pivot rejection, how close, or rather how far is too far away? 5 pips, 10 pips, gut feel?

1st - Good question only been asked a few times but crucial and the only part of my trading atm that is fuzzy ..I am working on a definitive rule for his but for a long the low must be in the bottom 5th of the 2 pivot lines and visa versa for shorts..I will try and tighten it to a more definite rule
Hi, Paulus, must be nearing the end of your day, right? So more brain picking here:

which "low" are you referring to? The 3? or the pivot rejection candle? I know some people would use the low of the wick and others would use the low of the candle body. I've seen several good rejections where the wick broke the pivot but the body never did, which I believe is how most traditional candle trades use it.

and in your second scenario, where the bar breaks through the pivot, obviously the previous low will usually be no where near the next pivot line.

Thanks for your replies. I'm just trying to clarify the fuzzy parts that are based on experience that I don't have yet. And you may have guessed I'm trying to code an EA either to alert me to trade setups or possible actually make the trades, since your system works best during my "sleepy time".
  • #3,676
  • Jul 10, 2011 4:10pm Jul 10, 2011 4:10pm
Quoting ericjschroed
Hi, Paulus, must be nearing the end of your day, right? So more brain picking here:

which "low" are you referring to? The 3? or the pivot rejection candle? I know some people would use the low of the wick and others would use the low of the candle body. I've seen several good rejections where the wick broke the pivot but the body never did, which I believe is how most traditional candle trades use it.

and in your second scenario, where the bar breaks through the pivot, obviously the previous low will usually be no where near the next...
The sL is always the semaphore low behind the signal for a long or semaphor high for a short

Its the low and high not open and close
Attached Image (click to enlarge)
Click to Enlarge Name: d43.gif Size: 32 KB
  • #3,677
  • Jul 10, 2011 4:13pm Jul 10, 2011 4:13pm
example of SL of breaking candle through pivot...not my chart but close enough

P
Attached Image (click to enlarge)
Click to Enlarge Name: eu1.gif Size: 12 KB
  • #3,678
  • Jul 10, 2011 4:26pm Jul 10, 2011 4:26pm
Quoting ericjschroed
Ok, I didn't ask this question right. Since you place your stop below the last dot, what if your pivot rejection and then entry signal is 60 pips away from the last dot? It seems to me that is too far. In other words, do you have a max SL?

E
Your SL and TP will never be the same unless you use a 1:1 risk/reward...When looking for a fail at a pivot there should be no more then 5-10 pips between the ZZ Dot and the pivot itself.

"IF YOUR SCARED TO LOSE MONEY.....YOUR TOO SCARED TO MAKE MONEY!'
  • #3,679
  • Jul 10, 2011 4:32pm Jul 10, 2011 4:32pm
Quoting Paulus
The sL is always the semaphore low behind the signal for a long or semaphor high for a short

Its the low and high not open and close

Paulus uses only 1 pip added to his SL but im sure with the betting company he doesnt have spread to think of....So if you have spread with your broker you need to add your spread....You do this since if price does come back to your SL even if the ASK gets there that is not the TRUE price(BID)...so you MUST add spread or spreadx2 to be even safer which will keep you from being stopped out by your TRICKY Broker...lol If you want to only use 1 pip go ahead and try it....if you keep being stopped out by 1-3 pips try adding your spread and see if that keep you in the trades where you can reach your TP area
  • #3,680
  • Jul 10, 2011 10:57pm Jul 10, 2011 10:57pm
Are there any coders here? I'm working on an alert for the M5 (Paulus) method and having a challenge with the coding. I need another set of eyes to hopefully find my problem. Anyone with coding experience willing to take a look? PM me please.
Eric
24 traders viewing now