Price Action Trading with Indicators! The Freebie System | Page 201 | Forex Factory

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Price Action Trading with Indicators! The Freebie System

  • #4,001
  • Jul 22, 2011 12:34am Jul 22, 2011 12:34am
Quoting jibjib210
Good to see all of you guys making money. I can't say the same for myself.

It is very hard to test this system when peak hours occur during London starting at 3 am for me. Since summer school for me has started and will continue till mid Aug should I test a new system?

I continue to trade 5 Min Paulus style in non-peak hours when London is closed and seem to get nowhere near the trades you guys get.

Any suggestions would be much appreciated.

Thanks
If you can not trade the small TFs then go to a HIGHER TIME FRAME...If you like the 1-2-3 setup that Paulus uses for trend ...it can be used there as well but the trades just take longer .... Dont try and rush to get weathly, it will come with time.
  • #4,002
  • Jul 22, 2011 12:40am Jul 22, 2011 12:40am
Quoting @mel

I agree with you Udine :-)

Dredding, how did you came up with this strategy? Sorry for asking but I am a curiouse woman and I always like to know more about others. lol

grtz
Watching the charts...............and ALOT of research into different indicators.
  • #4,003
  • Jul 22, 2011 12:58am Jul 22, 2011 12:58am
Took this trade using the Freebie PRO System just a little while ago...Not really much is going to happen today or so i think because its Friday and there are NO Reports really today.
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  • #4,004
  • Jul 22, 2011 1:32am Jul 22, 2011 1:32am
Quoting Dredding82
If you can not trade the small TFs then go to a HIGHER TIME FRAME...If you like the 1-2-3 setup that Paulus uses for trend ...it can be used there as well but the trades just take longer .... Dont try and rush to get weathly, it will come with time.

I agree, it is better to get rich slowly, than go broke spectacularly fast

Udine
Sleep less, live fast, as it aint gonna last
  • #4,005
  • Jul 22, 2011 1:35am Jul 22, 2011 1:35am
Quoting morris1
Paulus,

can you post the charts or at least USD/CAD?

Thx
Sure lines have changed some what but this is the set up

P
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  • #4,006
  • Jul 22, 2011 2:06am Jul 22, 2011 2:06am
Quoting bluexpec
Hi Dredding, could you please check if I'm doing this correct. I took a short on the USDCAD 1H (first pic) and second pic is the Long NZDUSD 1H

Upload better pics please....do not zoom in and cut how the WHOLE picture of PRICE......

If you do not know how...you RIGHT CLICK on your charts and pick "Save As Picture" then check "Active chart(as is)
  • #4,007
  • Edited 3:26am Jul 22, 2011 2:17am | Edited 3:26am
Quoting Dredding82
Took this trade using the Freebie PRO System just a little while ago...Not really much is going to happen today or so i think because its Friday and there are NO Reports really today.
I think that I will give that one a try also after a while short if it makes a red one on M15. Again at pivot.

Im also EU long and keeping AU, NU and EG on my checklist at the moment.

Added: Quite a run that usd/chf made today being friday with little reports. Now it looks green on the daily HA so I think have to check out if it turns to red again before entry.
  • #4,008
  • Jul 22, 2011 2:19am Jul 22, 2011 2:19am
Last UsdChf hit my SLlol...Entered into another position and made a mistake when setting up another possible enter into the trade so now i have 2 more open positions on UsdChf. But both are using the Freebie PRO System.
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  • #4,009
  • Jul 22, 2011 4:48am Jul 22, 2011 4:48am
Quoting Dredding82
Last UsdChf hit my SLlol...Entered into another position and made a mistake when setting up another possible enter into the trade so now i have 2 more open positions on UsdChf. But both are using the Freebie PRO System.
S**t happens (as terminator would have put it), lol

A question to you Dredd about your stops. As you know ive been wondering them lately. Do you still place your stops couple of pips (+ spread) abowe/below the last swing high/low (eg. in H1 if you are trading on that tf). You mentioned some day that it could be possible to place the stops also to the opposite end of daily range. I use those H1 swing stops, but I was thinking of doing some backtesting with stops during weekend and maybe tweak them a little afterwards if I will find something worth it.
  • #4,010
  • Jul 22, 2011 5:21am Jul 22, 2011 5:21am
took this trade on eur/jpy m15... =) entry, sl and tp are the red lines
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  • #4,011
  • Jul 22, 2011 8:07am Jul 22, 2011 8:07am
Hi Dred
Great system, the only one I seem to make a few pips on weekly. However I have a question that has bothered me for sometime. I think the answer has been hinted at before but I'm not sure. Post 4003 when you took the short UsdChf trade, Do you not respect the large #3 semafor to its left? I realize the #3 can move with price, but isn't it a good indicator that the down move is ending. I have tried to go back thru and check on old charts, but as you know if your trade had gone for a winner the #3 would not be in its present position on the old chart (thus all I ever find are the ones that did not workout). I have always been afraid to take a continuation trade like this UChf once a #3 has appeared. Hope I have asked my question in a clear enough manner for you to understand.
Thank you in advance.
ps: I guess I'm a system alcoholic. Like many others on FF, I try to put together systems that have a high % hit rate and I always end up putting back into them most of your system. When you were first developing this system did you realize right away you had a winner or did it take some time to sink in? thanks
gmcc
  • #4,012
  • Jul 22, 2011 8:10am Jul 22, 2011 8:10am
Quoting gmcc
Hi Dred
Great system, the only one I seem to make a few pips on weekly. However I have a question that has bothered me for sometime. I think the answer has been hinted at before but I'm not sure. Post 4003 when you took the short UsdChf trade, Do you not respect the large #3 semafor to its left? I realize the #3 can move with price, but isn't it a good indicator that the down move is ending. I have tried to go back thru and check on old charts, but as you know if your trade had gone for a winner the #3 would not be in its present position on the...
As i stated it was not a Freebie Newbie System trade but a Freebie PRO System trade...so i will not comment on that trade due to that fact.

I'm a winner so i knew my system would be one also! lol
  • #4,013
  • Jul 24, 2011 1:10pm Jul 24, 2011 1:10pm
Thank you guys for your diligence with this thread, I've learned a lot about how price tends to behave and I'm going live tomorrow with a small account. Updates coming.
Found a way to detect where the market will turn.
  • #4,014
  • Jul 24, 2011 3:47pm Jul 24, 2011 3:47pm
Quoting jpdwilson
Thank you guys for your diligence with this thread, I've learned a lot about how price tends to behave and I'm going live tomorrow with a small account. Updates coming.
Happy pipping tomorrow JPD
  • #4,015
  • Jul 24, 2011 10:46pm Jul 24, 2011 10:46pm
Quoting jpdwilson
Thank you guys for your diligence with this thread, I've learned a lot about how price tends to behave and I'm going live tomorrow with a small account. Updates coming.
Good luck jpdwilson....just remember to take it easy and do not rush a trade just to try and get ahead of the market...go with the flow......
  • #4,016
  • Jul 25, 2011 12:25am Jul 25, 2011 12:25am

Its about that time once again to start a new week of trading.......Best of luck to everyone....Now lets make some PIPS! lol

  • #4,017
  • Jul 25, 2011 1:17am Jul 25, 2011 1:17am
Good luck to all.

Wish you a green week !!

Udine
Sleep less, live fast, as it aint gonna last
  • #4,018
  • Jul 25, 2011 2:23am Jul 25, 2011 2:23am
Done for the day..

Got my +5 %. Wish you all the same.

Udine
Sleep less, live fast, as it aint gonna last
  • #4,019
  • Jul 25, 2011 2:35am Jul 25, 2011 2:35am
Quoting Dredding82

Its about that time once again to start a new week of trading.......Best of luck to everyone....Now lets make some PIPS! lol

Thanks. Back at the office again. Made a decision this weekend to start to trade H4 with weekly pivs & goals. Gives me a little more time and space with trades during office hours (them being = London session).

Good luck to you all.
  • #4,020
  • Jul 25, 2011 2:37am Jul 25, 2011 2:37am
Quoting Udine
Done for the day..

Got my +5 %. Wish you all the same.

Udine
udine, you're a monster trader! What trade(s) did you take to finish so fast?

DrDave
To free Gazans of Hamas, use whatever it takes.
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