Price Action Trading with Indicators! The Freebie System | Page 198 | Forex Factory

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Price Action Trading with Indicators! The Freebie System

  • #3,941
  • Jul 19, 2011 3:41am Jul 19, 2011 3:41am
Quoting Ultimatus
is it me or have there not been many Freebie trades lately? I mean m15 freebie trades not m5 Paulus style.
Neither for me, so I trade M5 with Freebie Style (only with higher TF Trend). I took a trade a few bars ago, long EUR/CHF, TP hit, + 30pips.......
  • #3,942
  • Jul 19, 2011 5:19am Jul 19, 2011 5:19am
Hi Dredding, great Thread you have here!

I have read the whole thread before posting anything. I just wanted to say thank you for sharring your thoughts and thx to everyone for posting charts and comments. I see through your reply that the success rate is very high.

To Paulus.... You are a very good trader. I like your black and white stuff lol.
I particulary enjoyed the posts about Money Management, Dredding.

I must admit that I never was a big fan of indicators. I have to admit that I never learned to master them in the past also.
I am trading supply and demands zone and by looking at the charts last week, your system kinds of confirm the signals I get with my own system.

So , again thanks for everything.
Good luck to everyone.

Mel
  • #3,943
  • Jul 19, 2011 5:38am Jul 19, 2011 5:38am
Quoting @mel
Hi Dredding, great Thread you have here!

I have read the whole thread before posting anything. I just wanted to say thank you for sharring your thoughts and thx to everyone for posting charts and comments. I see through your reply that the success rate is very high.

To Paulus.... You are a very good trader. I like your black and white stuff lol.
I particulary enjoyed the posts about Money Management, Dredding.

I must admit that I never was a big fan of indicators. I have to admit that I never learned to master them in the past also.
I am...
lol
  • #3,944
  • Jul 19, 2011 6:15am Jul 19, 2011 6:15am
Thinking whether or not to take G/J short on H1? It seems to be retracing on smaller tf´s. Maybe it is worth to wait a retracement on m5 or m15. What do you guys think.
  • #3,945
  • Jul 19, 2011 6:51am Jul 19, 2011 6:51am
When a system really work well, you will always see good results. This is the type of system i have been looking for, for the past 3 years. The major aspect of it that i like much is entering the market timely and win big with good MM. THANK YOU PROF.DREDDING and the crew of this small community. I searched for it and i finally got it.Now i can easily trade small time frame and still make good money. I used it today to make over 50 pips, though got out earlier but i am building confidence. Thank you all. Please still post your chats more either win or loss so that we can learn more.
We Win Some, We Loose Some, But Let your Win Rates be More to be Successful
  • #3,946
  • Jul 20, 2011 4:52am Jul 20, 2011 4:52am
Just closed eu long, because I think that it will retrace on H1. +35 pips
Lets see if Im right or wrong.
  • #3,947
  • Jul 20, 2011 5:31am Jul 20, 2011 5:31am
Quoting Whistlepips
Just closed eu long, because I think that it will retrace on H1. +35 pips
Lets see if Im right or wrong.
Ha-Ha! I took that buy on H1 EU. when I came back from lunch, KA-CHING! 44 pips in the bank.

Dredding's Freebie system does it again.

DrDave
To free Gazans of Hamas, use whatever it takes.
  • #3,948
  • Jul 20, 2011 5:43am Jul 20, 2011 5:43am
DrDave Well done !!

I have just reached my daily target again (+5 %) so I am done for the day.

I wish you all a green pip day!!

Udine
Sleep less, live fast, as it aint gonna last
  • #3,949
  • Jul 20, 2011 5:44am Jul 20, 2011 5:44am
Text book
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 24 KB
Simplicity is the ultimate in sophistication ~ Leonardo Da Vinci
  • #3,950
  • Jul 20, 2011 5:47am Jul 20, 2011 5:47am
Quoting Udine
DrDave Well done !!

I have just reached my daily target again (+5 %) so I am done for the day.

I wish you all a green pip day!!

Udine
Thanks, udine. I also hit my daily goal with this single trade. This trade plus yesterday's single trade give me my WEEKLY goal. LOL So now I am free from the charts.

DrDave
To free Gazans of Hamas, use whatever it takes.
  • #3,951
  • Jul 20, 2011 5:48am Jul 20, 2011 5:48am
Good work Udine and DrDave.
Simplicity is the ultimate in sophistication ~ Leonardo Da Vinci
  • #3,952
  • Jul 20, 2011 5:59am Jul 20, 2011 5:59am
Quoting DrDave
Thanks, udine. I also hit my daily goal with this single trade. This trade plus yesterday's single trade give me my WEEKLY goal. LOL So now I am free from the charts.

DrDave
Lol.

Im also well beyond my daily goal, but after some losses earlier in the week Im about BE now. Ive been using larger stops (from H1 swings) allthough taking trades from smaller tf´s. That seems to be working. Atleast for now. I think that while Im getting better to use the system and spotting the pullbacks, larger stops may be a good idea. So when the hit rate of my entrys becomes better I can also use smaller stops and still be profitable. I dont know? What do you guys think of this? Could it go this way?

Added: The problem with those larger stops are the drawdowns, which can be huge on those bumpy weeks.
  • #3,953
  • Jul 20, 2011 6:28am Jul 20, 2011 6:28am
Quoting DrDave
Thanks, udine. I also hit my daily goal with this single trade. This trade plus yesterday's single trade give me my WEEKLY goal. LOL So now I am free from the charts.

DrDave

Don't worry. If you continue like this you will start to hate the weekends and cant wait for Monday to start
Sleep less, live fast, as it aint gonna last
  • #3,954
  • Jul 20, 2011 6:28am Jul 20, 2011 6:28am
Quoting fisheggs
Good work Udine and DrDave.

Thanks

Udine
Sleep less, live fast, as it aint gonna last
  • #3,955
  • Jul 20, 2011 6:29am Jul 20, 2011 6:29am
Quoting fisheggs
Text book

Well done !!!

Udine
Sleep less, live fast, as it aint gonna last
  • #3,956
  • Jul 20, 2011 6:38am Jul 20, 2011 6:38am
Quoting Whistlepips
Lol.

Im also well beyond my daily goal, but after some losses earlier in the week Im about BE now. Ive been using larger stops (from H1 swings) allthough taking trades from smaller tf´s. That seems to be working. Atleast for now. I think that while Im getting better to use the system and spotting the pullbacks, larger stops may be a good idea. So when the hit rate of my entrys becomes better I can also use smaller stops and still be profitable. I dont know? What do you guys think of this? Could it go this way?

Added: The problem with those...

Decide to demo trade the system AS IS, for at least a month, wihtout changing anything. Keep a tradelog/journal, where you write down ALL the details and save them with the printscreens (entry & exit). Prepare an entry checklist and use this checklist for every trade. Keep it with the tradelog. This will also train your discipline and trade with 100 % compliance with your trading rules.

At the end of the month analyze the results with the printscreens and see what went well and what went wrong.

All you need is consistency, as with consistency you will build confidence, and with confidence the trading will become successful and boring.

Remember you just need a consistant system that will give you 1 - 2 % per day and with PATIENCE; DISCIPLINE AND in a couple of years you can have the dream life you want.


Udine
Sleep less, live fast, as it aint gonna last
  • #3,957
  • Jul 20, 2011 6:40am Jul 20, 2011 6:40am
good work guys!
  • #3,958
  • Jul 20, 2011 7:40am Jul 20, 2011 7:40am
Quoting Udine
Decide to demo trade the system AS IS, for at least a month, wihtout changing anything. Keep a tradelog/journal, where you write down ALL the details and save them with the printscreens (entry & exit). Prepare an entry checklist and use this checklist for every trade. Keep it with the tradelog. This will also train your discipline and trade with 100 % compliance with your trading rules.

At the end of the month analyze the results with the printscreens and see what went well and what went wrong.

All you need is consistency, as with consistency...
Thanks Udine for your reply. I think that with these larger stops now figured out I just might be able to do that . Im finding that a bit problematic, because im still relatively new at forex. Been around alltogether about 8 months now and learning much every day. This is the second trading system I have used systematically for a longer period of time. I think about 3 to 4 months now.

I use trading journal and like it very much, but my entry rules are still a bit open so I have to deal with them somehow in order to lock them. Im almost there.

Trading journal is a very good idea, because with it I can base my system-tweaking decisions to facts if tweaking of the system is needed. Im hoping that I will learn to use this system with confidence and to be profitable with it soon.

Do you still (need to) learn from forex and tweak your system? Would be interesting to know how this process goes for you. Im quessing that you might be using facts from your trading journal to make these decisions if needed
  • #3,959
  • Jul 20, 2011 7:43am Jul 20, 2011 7:43am
Quoting AndreyBecker
good work guys!
Thank you
Sleep less, live fast, as it aint gonna last
  • #3,960
  • Jul 20, 2011 5:59pm Jul 20, 2011 5:59pm
EURUSD trying to break 1.42812. Something needs to happen, I'm just waiting!
Damn The Torpedoes, Full Speed Ahead!
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