Price Action Trading with Indicators! The Freebie System | Page 194 | Forex Factory

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Price Action Trading with Indicators! The Freebie System

  • #3,861
  • Jul 14, 2011 10:24am Jul 14, 2011 10:24am
Quoting ericjschroed
I admire you for getting started at 16. If you are able to "get" this, you might be able to have a life without a stupid job working for someone else, unless you want to. I'm starting much later and really hoping to retire myself long before the "suggested" retirement age, when you're usually too old to really enjoy life. HOWEVER, first I hope your account is a demo, otherwise WHY the H*** are you risking 1% or more on each trade before you have some history of success??? If you have been following this for several weeks, I hope you have read and re-read this thread and start making notes about what fits the style of trading you have chosen.
Lol goodluck achieving your life goals I hope you suceed. I myself only got into the Forex business determined to make money and not even start with a day job but a full time trader. Yes obviously I started with a demo account I do not work and hope to only start a live account once I am certain I am going to make money. I have skimmed through this thread and have been recently following everyone that has been posting trades. Are you suggesting I read all 260 pages of this thread to fully grasp the concept of this system?
  • #3,862
  • Jul 14, 2011 11:03am Jul 14, 2011 11:03am
Quoting jibjib210
Lol goodluck achieving your life goals I hope you suceed. I myself only got into the Forex business determined to make money and not even start with a day job but a full time trader. Yes obviously I started with a demo account I do not work and hope to only start a live account once I am certain I am going to make money. I have skimmed through this thread and have been recently following everyone that has been posting trades. Are you suggesting I read all 260 pages of this thread to fully grasp the concept of this system?
YESSSSS! read EVERY post. It is a small investment of your time for a lot of valuable information. Did you become a GameBoy, XBox, Wii, or whatever expert by playing a couple of games for a couple of hours? I think not! I bet you invested THOUSANDS of hours in order to become an expert game player, (which got you NO $$$, did it?). So isn't it logical that you would need to invest even MORE hours to be able to make a shipload of $$$$$$????

Well, honestly, you don't need to read all 260 pages to grasp the concept. But as I said, there is a wealth of additional info in the thread. (OK,OK, so there is also a lot of crap in the thread, but Dredding has tried REALLY HARD to keep that out. But I keep posting anyway. LOL) And, only by reading every post can you discover which topics have been beaten to death, and posting on that subject will get you an instant IGNORE. LOL


DrDave
Bumps in the road are just diversions--the road is still there, so keep on truckin'!
To free Gazans of Hamas, use whatever it takes.
  • #3,863
  • Jul 14, 2011 11:31am Jul 14, 2011 11:31am
Quoting DrDave
YESSSSS! read EVERY post. It is a small investment of your time for a lot of valuable information. Did you become a GameBoy, XBox, Wii, or whatever expert by playing a couple of games for a couple of hours? I think not! I bet you invested THOUSANDS of hours in order to become an expert game player, (which got you NO $$$, did it?). So isn't it logical that you would need to invest even MORE hours to be able to make a shipload of $$$$$$????

Well, honestly, you don't need to read all 260 pages to grasp the concept. But as I said, there is a wealth...

Lmao you make a good point. I did spend many summers playing games to become an expert. Only makes sense to spend this summer learning how to make money . Especially when I'm on summer break for 2 months and aren't interested in any games anymore.

Thanks for the advice.
  • #3,864
  • Jul 14, 2011 1:47pm Jul 14, 2011 1:47pm
anyone using the freebie signal alert indicator? Are you using filter set to "true" or "false"?
  • #3,865
  • Jul 14, 2011 2:05pm Jul 14, 2011 2:05pm
Quoting jibjib210
Lmao you make a good point. I did spend many summers playing games to become an expert. Only makes sense to spend this summer learning how to make money . Especially when I'm on summer break for 2 months and aren't interested in any games anymore.

Thanks for the advice.
lucky guy i wish, i have started to trade forex with 16..but i´m not sad, i´m 21 now and have enough time too we are lucky, that we met this thread! Happy trading to you!

Cheers
  • #3,866
  • Jul 14, 2011 2:42pm Jul 14, 2011 2:42pm
Quoting AndreyBecker
lucky guy i wish, i have started to trade forex with 16..but i´m not sad, i´m 21 now and have enough time too we are lucky, that we met this thread! Happy trading to you!

Cheers
HAHA thanks. It will only be worthwhile if we are all winners in the end and become rich .
  • #3,867
  • Jul 14, 2011 4:10pm Jul 14, 2011 4:10pm
Quoting jibjib210
HAHA thanks. It will only be worthwhile if we are all winners in the end and become rich .

Yikes I have a son of 20 !

Im 49 think of the money you will have by the time your my age
...arghhhhhhhhhhhhh
  • #3,868
  • Jul 14, 2011 7:17pm Jul 14, 2011 7:17pm
Just got in on this one
Attached Image (click to enlarge)
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Damn The Torpedoes, Full Speed Ahead!
  • #3,869
  • Jul 14, 2011 8:00pm Jul 14, 2011 8:00pm
Quoting Paulus
Yikes I have a son of 20 !

Im 49 think of the money you will have by the time your my age
...arghhhhhhhhhhhhh

Lmao not even close to your level yet Paulus. Hope to be 1 day. Some of your ROC a day are unbelievable. Do not get how your trades go line to line whereas when I try it I always end up with losses :s. I guess I need more practice and more patience which is the hardest of them all. I'm sure I am going to need your help to become a sucessful as trader as you are.

Will post some charts soon for help and advice.

Thanks
  • #3,870
  • Jul 14, 2011 8:16pm Jul 14, 2011 8:16pm
As well as this one
Attached Image (click to enlarge)
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Damn The Torpedoes, Full Speed Ahead!
  • #3,871
  • Jul 15, 2011 12:55am Jul 15, 2011 12:55am
These are the 2 trades I have taken today. Aud/Usd just closed and hit my SL, went up .02 of a pip higher then dropped straight 30 pips . That was very frustrating but I'm guessing it happens? Other trade Eur/Usd hit my TP.

Let me know what you guys think of these trades. Advice like If I should have been more patient and got better trades or if my strategy needs to be tweaked.

Any advice would be much appreciated.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: eurusd july 14.gif Size: 40 KB
  • #3,872
  • Jul 15, 2011 1:25am Jul 15, 2011 1:25am
Quoting jibjib210
These are the 2 trades I have taken today. Aud/Usd just closed and hit my SL, went up .02 of a pip higher then dropped straight 30 pips . That was very frustrating but I'm guessing it happens? Other trade Eur/Usd hit my TP.

Let me know what you guys think of these trades. Advice like If I should have been more patient and got better trades or if my strategy needs to be tweaked.

Any advice would be much appreciated.
what is your tp? always 1:1?
  • #3,873
  • Jul 15, 2011 1:31am Jul 15, 2011 1:31am
Quoting AndreyBecker
what is your tp? always 1:1?
Most of the time yes. I try not to get too greedy just want to keep hitting T/P for now. Though if the next line is near by I try to go 1:2.
Should I always play line to line upto 1:3?
  • #3,874
  • Jul 15, 2011 1:50am Jul 15, 2011 1:50am
Quoting jibjib210
Most of the time yes. I try not to get too greedy just want to keep hitting T/P for now. Though if the next line is near by I try to go 1:2.
Should I always play line to line upto 1:3?
if you want to trade paulus-style, your tp should be next pivot line and you should trade only since london open till london close. if the next pivot line too near, so you must set your tp to 1:1
  • #3,875
  • Jul 15, 2011 1:52am Jul 15, 2011 1:52am
Quoting AndreyBecker
if you want to trade paulus-style, your tp should be next pivot line and you should trade only since london open till london close. if the next pivot line too near, so you must set your tp to 1:1
LOL alright thanks for the advice. Going to be kind of hard. It's 2:52 am at the moment and I'm passing out. Trying to stay up as long as I can waiting for atleast a couple good trades.
  • #3,876
  • Jul 15, 2011 1:55am Jul 15, 2011 1:55am
Quoting jibjib210
LOL alright thanks for the advice. Going to be kind of hard. It's 2:52 am at the moment and I'm passing out. Trying to stay up as long as I can waiting for atleast a couple good trades.
yes, it´s sometimes hard, if you see a good setup... i try not to look at the m5 charts till london opens... patience
  • #3,877
  • Jul 15, 2011 4:14am Jul 15, 2011 4:14am
Quoting AndreyBecker
yes, it´s sometimes hard, if you see a good setup... i try not to look at the m5 charts till london opens... patience
Lol I only trade 5 mins. After a long night I can see it is best to trade when london is open. Sure I should see a few more trades when New York and London overlap. Though it is 5:14 am now and I'm calling it a night.

Happy Trading.
  • #3,878
  • Edited 7:59am Jul 15, 2011 7:22am | Edited 7:59am
EURUSD M5 short
Had an up move, a retracement, then the follow through up leg failed to continue higher at the last red dot.
short at the open of 2nd down candle @1.4149
Stoch crossed down.

SL above the red dot high + 2X spread 1.4172
TP 1.4120
R:R 23:29

The down move starts a bit below the 1.4175 level, so expect to see it drop 2 more levels to 1.4125.

DrDave

EDIT: Hit TP.
I love this system. Entered the trade, posted the chart, went to wash the dishes, and returned to KA-CHING--pips in the bank. 29 pips for a trade lasting 26 minutes.

This one trade gives me my daily goal, so now I'm done for the day, done for the week.
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-07-15_15-13_MetaTrader 4 at.jpg Size: 112 KB
To free Gazans of Hamas, use whatever it takes.
  • #3,879
  • Jul 15, 2011 8:20am Jul 15, 2011 8:20am
It started to take my last 2 trades hours to actually mature, so I set them up with a TP of 1:1 and off to bed I went. Woke up, EURUSD hit TP for 38 pips, and the GBPUSD had the bottom fall off of it and hit my SL. Looking back on the GBPUSD H4, I should have noticed, that it momentum had slowed way down and was due for a retracement. Lesson learned!
Damn The Torpedoes, Full Speed Ahead!
  • #3,880
  • Jul 16, 2011 2:14am Jul 16, 2011 2:14am
Very bold of you to share this online, seems like it took a lot of work and frustration. Life of a trader is not an easy one, the mental stress can drive you to chasing women. I will give it a try and take snapshots of each bar be it five minutes or one hour. Thanks..
Attached File(s)
File Type: mq4 SnapShotI.mq4   3 KB | 414 downloads
File Type: ex4 SnapShotI.ex4   5 KB | 341 downloads
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