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Price Action Trading with Indicators! The Freebie System

  • #4,021
  • Jul 25, 2011 2:42am Jul 25, 2011 2:42am
Quoting DrDave
udine, you're a monster trader! What trade(s) did you take to finish so fast?

DrDave

DrDave,

I have adapted Dred's system to my style. I have promised Dred not to specify or show my trades here, as they are not 100% according to his system.

I will tell you that I play FIFO: Fast In Fast Out. I only trade EU & GU. It gives me all that I need.

Sorry I cannot specify more, but I respect Dreds wishes.

Udine.
Sleep less, live fast, as it aint gonna last
  • #4,022
  • Jul 25, 2011 6:20am Jul 25, 2011 6:20am
Andrew you have mail.

Udine
Sleep less, live fast, as it aint gonna last
  • #4,023
  • Jul 25, 2011 1:28pm Jul 25, 2011 1:28pm
This was a textbook entry it seems.

Tough day on the EUR/USD and GBP/USD with a lot of consolidation around the pivots, tough to see clear signals - signals that truly show prices respect for the pivot point. However, even with several losses, a 3:1 RR should keep you above the water.
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_USD_CAD_5 Mins_snapshot.png Size: 22 KB
Found a way to detect where the market will turn.
  • #4,024
  • Jul 25, 2011 10:52pm Jul 25, 2011 10:52pm
Here are two trades i took almost 2 hours after the Jap open...both moved like wild fire and already moved my SL to above the enter to lock in profits along with closing a % of the lots and now i am in 2 RISK FREE trades...just have to manage them properly and take profits as i see fit till i let the pair reverse and hit a SL. On the GbpUsd there is another buy line above my enter but that is from a trade from friday that is still going.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aud.jpg Size: 117 KB
Click to Enlarge Name: gbp.jpg Size: 120 KB
  • #4,025
  • Jul 25, 2011 10:56pm Jul 25, 2011 10:56pm
Quoting jpdwilson
This was a textbook entry it seems.

Tough day on the EUR/USD and GBP/USD with a lot of consolidation around the pivots, tough to see clear signals - signals that truly show prices respect for the pivot point. However, even with several losses, a 3:1 RR should keep you above the water.
Great trade! Just take your time and dont hunt out every trade possible to try and get rich over night...
  • #4,026
  • Jul 25, 2011 11:02pm Jul 25, 2011 11:02pm
Here is the last order i had from Friday for shorting UsdChf using the Freebie PRO System....Its BANKING like a mofo! So i made back all the loss of the failed trades and still have some profits for my efforts. Hope everyone got their ticket for this train as i was telling everyone last week....lol

**BTW** I love "Gaps" .....the make me alot of $$$ just like NFP lol
Attached Image (click to enlarge)
Click to Enlarge Name: chf.jpg Size: 127 KB
  • #4,027
  • Jul 25, 2011 11:07pm Jul 25, 2011 11:07pm
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...
Dont look at the numbers...infact DL the new tpl in the #1 post and i have took the numbers off the chart so people will not even look at them anymore.
  • #4,028
  • Jul 25, 2011 11:10pm Jul 25, 2011 11:10pm
Quoting Udine
Done for the day..

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

Udine
Good job Udine. And thank you for not posting how you use the Freebie System as you do. Im sure if people want to know about it they will msg you for the details, well if they are not lazy lol
  • #4,029
  • Jul 25, 2011 11:15pm Jul 25, 2011 11:15pm
Quoting Whistlepips
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.

Thats kool Whistlepips...just take your time and do not rush into trades till your signals are confirmed and make sure you have a good R:R ratio before hand. I have attached a shot of the kind of profits(in pips) you should hope to make if not more using H4 charts. These are live trades that are still open at this moment of posting with everyone being a RISK FREE trade but 1 or 2 but the others make up for any loss those few could make. Well 2 are from M15 trades today and the UsdJpy i took because i think the Japs will step in making the UsdJpy jump in price but its a small risk for a BIG hope lol.
Attached Image (click to enlarge)
Click to Enlarge Name: Weekly Profit.jpg Size: 40 KB
  • #4,030
  • Jul 25, 2011 11:18pm Jul 25, 2011 11:18pm
Quoting Whistlepips
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...
I do not use the ADR for SL...i just make sure that there is a ZZ Dot on the current TF and a higher one before the trade so that it is a low or high on more then one TF.. doing that keeps your SL in pips low.
  • #4,031
  • Jul 25, 2011 11:51pm Jul 25, 2011 11:51pm
Dred,

Great trading as always. You confirm everytime that trading does not have to be complicated.

Udine
Sleep less, live fast, as it aint gonna last
  • #4,032
  • Jul 26, 2011 12:13am Jul 26, 2011 12:13am
Quoting Udine
Dred,

Great trading as always. You confirm everytime that trading does not have to be complicated.

Udine
Thanks Udine, it is very easy to do when you stop over thinking and just follow the FLOW ....lol
  • #4,033
  • Jul 26, 2011 12:45am Jul 26, 2011 12:45am
What are you guys' thoughts on the European session?

Probably quiet or a reversal, right?

The EUR/USD has already moved over 140 pips in the Asian market.
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_EUR_USD_5 Mins_snapshot.png Size: 23 KB
Found a way to detect where the market will turn.
  • #4,034
  • Jul 26, 2011 12:46am Jul 26, 2011 12:46am
Quoting jpdwilson
What are you guys' thoughts on the European session?

Probably quiet or a reversal, right?

The EUR/USD has already moved over 140 pips in the Asian market.

Dont think what will happen...just react to what happens........
  • #4,035
  • Jul 26, 2011 1:08am Jul 26, 2011 1:08am
Quoting Dredding82
Dont think what will happen...just react to what happens........

Thats right. Just let the charts do the talking. And if the charts (EU & GU)dont say anything.... I will have a day off of trading... not the work.

You only trade when there is a reason to trade, not because you want to trade...

Green pips to all.


Udine
Sleep less, live fast, as it aint gonna last
  • #4,036
  • Jul 26, 2011 1:22am Jul 26, 2011 1:22am
Quoting Dredding82
Dont think what will happen...just react to what happens........

Holy truth!!!
Do not think what will happen because they think of big fish and you eat!. Respond to what they are doing!!
  • #4,037
  • Jul 26, 2011 1:36am Jul 26, 2011 1:36am
For me no trading on the EU, as the ADR has already reached its limit for today. My focus will be on the GU, but its also near its daily limit.

This does not guarantee that it there are no trades possible, but for me I am not going to risk my money. My first goal in trading is to preserve my account.

Regards and good luck to all.

Udine
Sleep less, live fast, as it aint gonna last
  • #4,038
  • Jul 26, 2011 1:40am Jul 26, 2011 1:40am
Dipped my toe in the water today with a micro acount one win one loss but the win was 3 times the size of the loss gotta be happy with that!!!
Have to go out just as London opens but may be able to jump in later tonight.
Thanks for a great system
  • #4,039
  • Jul 26, 2011 1:44am Jul 26, 2011 1:44am
Quoting Stumpy1
Dipped my toe in the water today with a micro acount one win one loss but the win was 3 times the size of the loss gotta be happy with that!!!
Have to go out just as London opens but may be able to jump in later tonight.
Thanks for a great system

Well done !!!

Show us the chart please.

Udine
Sleep less, live fast, as it aint gonna last
  • #4,040
  • Jul 26, 2011 2:00am Jul 26, 2011 2:00am
Quoting Udine
For me no trading on the EU, as the ADR has already reached its limit for today. My focus will be on the GU, but its also near its daily limit.

This does not guarantee that it there are no trades possible, but for me I am not going to risk my money. My first goal in trading is to preserve my account.

Regards and good luck to all.

Udine

As I said: but there would be a trade on the EU and I would get my TP. So what the markets will be there tomorrow also. I did not risk anything and did not lose anything.

Standing aside is also a position.

Green pips.

Udine
Sleep less, live fast, as it aint gonna last
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