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Price Action Trading with Indicators! The Freebie System

  • #4,041
  • Jul 26, 2011 2:42am Jul 26, 2011 2:42am
Quoting Dredding82
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...
Thanks man. I seem to be a H4 kinda quy. Three trades opened yesterday and they all were winners. Banked some pips

My weekly goal is done and its just tuesday. Well ill be demoing the rest of the week anyway.
  • #4,042
  • Jul 26, 2011 3:01am Jul 26, 2011 3:01am
Quoting Whistlepips
Thanks man. I seem to be a H4 kinda quy. Three trades opened yesterday and they all were winners. Banked some pips

My weekly goal is done and its just tuesday. Well ill be demoing the rest of the week anyway.

Well done !!

Udine
Sleep less, live fast, as it aint gonna last
  • #4,043
  • Jul 26, 2011 3:19am Jul 26, 2011 3:19am
Quoting Whistlepips
Thanks man. I seem to be a H4 kinda quy. Three trades opened yesterday and they all were winners. Banked some pips

My weekly goal is done and its just tuesday. Well ill be demoing the rest of the week anyway.
Excellent job!
That's a beautiful thing--three H4 trades in the green, weekly goal met, and still 3 days left in the week! Enjoy watching now.

DrDave
To free Gazans of Hamas, use whatever it takes.
  • #4,044
  • Edited 4:17am Jul 26, 2011 3:29am | Edited 4:17am
Quoting Dredding82
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.
Thanks Dredd for sharing this one. I think this is really IMPORTANT issue. I think that this one adds significantly the odds in our favor.

BTW would be really nice to know more of your trade management principles also. How do you move your stops and take profits as well as evaluate your ongoing trades? There has been some discussions of these, but maybe they are not fully dealt with yet.
  • #4,045
  • Jul 26, 2011 3:45am Jul 26, 2011 3:45am
Thanks DrDave (or should I say Doc) and Udine.
  • #4,046
  • Jul 26, 2011 5:23am Jul 26, 2011 5:23am
Quoting Dredding82
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
You got in before the HA and you entered at supply (with stochastic confirmation). Just shows you don't need HA. Nice trade
  • #4,047
  • Jul 26, 2011 5:25am Jul 26, 2011 5:25am
Quoting Porkpie
You got in before the HA and you entered at supply (with stochastic confirmation). Just shows you don't need HA. Nice trade

Of course because its part of the Freebie PRO System i use .......so HA is not used and neither is stochastics.....but you did get the S&R/S&D right lol

Thanks
  • #4,048
  • Jul 26, 2011 9:19am Jul 26, 2011 9:19am
AUDUSD | +15%
GBP/USD | -5%, +15%
EUR/USD | -5%
USD/CAD | -5%. +15%

ROC | 30%

Like I had expected, pretty quiet day due to a volatile Asia session. Much better than yesterday's consolidation around the pivots. Had I traded the Asian session these numbers would have been quite a bit higher. Some great trades set up as price pulled back into the pivots before taking off.

I wait for price to truly respect the pivot, meaning that the pull back doesn't actually break it by more than a pip or two and definitely doesn't close over it.

Pips and such,
Jonathan
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 26Chart_AUD_USD_5 Mins_snapshot.png Size: 21 KB
Click to Enlarge Name: 26Chart_GBP_USD_5 Mins_snapshot.png Size: 24 KB
Click to Enlarge Name: 26Chart_EUR_USD_5 Mins_snapshot.png Size: 22 KB
Click to Enlarge Name: 26Chart_USD_CAD_5 Mins_snapshot.png Size: 25 KB
Found a way to detect where the market will turn.
  • #4,049
  • Jul 26, 2011 10:25am Jul 26, 2011 10:25am
Nice work Jonathan !
Simplicity is the ultimate in sophistication ~ Leonardo Da Vinci
  • #4,050
  • Jul 26, 2011 10:49am Jul 26, 2011 10:49am
Quoting fisheggs
Nice work Jonathan !
Indeed!
  • #4,051
  • Jul 26, 2011 11:06am Jul 26, 2011 11:06am
I'm decreasing risk to 2% per trade from now on. My broker doesn't offer enough leverage to risk 5% per trade on the 5M charts. That will make for about 8% exposure at any given time maximum.

I'm trading four pairs and projecting based on history an average of 3 trades per day per pair at a 50%-66% hit rate. Assuming I only win 50% that is 12 trades with 6 wins and 6 losses at a 3:1 RR. That should be about 24% a day on average.

That sounds absolutely ridiculous. But, oh well. My account is small, though with those numbers it won't be for long, and it is all risk capital.

My goal will be to compound weekly, improving my hit rate to two out of three and slowly building strength psychologically. I will only take the very best trades, trades that show price's true respect for the pivot.

I'm in Chicago though. Really, 2:00am for the European session? Yikes.

Pips and such,
Jonathan
Found a way to detect where the market will turn.
  • #4,052
  • Jul 26, 2011 11:08am Jul 26, 2011 11:08am
Jonathan,

job well done !!!


It seems you have thought about it. Keep us posted on the journey.

Udine
Sleep less, live fast, as it aint gonna last
  • #4,053
  • Jul 26, 2011 5:42pm Jul 26, 2011 5:42pm
Here is a EurUsd H1 trade taken just before i went to bed for the night...had a BE set to move when the pair hit 1:1, closed 1/2 of my lots just a few mins ago.... so now its a RISK FREE TRADE....
Attached Image (click to enlarge)
Click to Enlarge Name: euro.jpg Size: 105 KB
  • #4,054
  • Jul 26, 2011 5:56pm Jul 26, 2011 5:56pm
Quoting Dredding82
Here is a EurUsd H1 trade taken just before i went to bed for the night...had a BE set to move when the pair hit 1:1, closed 1/2 of my lots just a few mins ago.... so now its a RISK FREE TRADE....
Gotta luv the Freebie System!
Damn The Torpedoes, Full Speed Ahead!
  • #4,055
  • Jul 26, 2011 11:04pm Jul 26, 2011 11:04pm
I am new to this thread.........

I am a bad trader and I am trying to change that......
Hope you guys could help me out...
So far everything I read seems promising.....


Keep them pips coming and help teach us newbies.

Thanks
  • #4,056
  • Jul 26, 2011 11:15pm Jul 26, 2011 11:15pm
I upload the wrong file...
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy.gif Size: 36 KB
  • #4,057
  • Jul 26, 2011 11:26pm Jul 26, 2011 11:26pm
Hi,
I am new to this thread but would suggest with the chart you put up the trend is clearly sieways so I do not believe it is a good one if you are new perhaps you could look for a retracement in a trending market?
Maybe the old hands can shed more light
  • #4,058
  • Jul 26, 2011 11:44pm Jul 26, 2011 11:44pm
Quoting fxtrain
I upload the wrong file...
Looks good on the M15 but you need to look at the higher TF to confirm trend...which in my eyes is UP...so i would have took the trade.
  • #4,059
  • Jul 26, 2011 11:53pm Jul 26, 2011 11:53pm
Quoting Dredding82
Looks good on the M15 but you need to look at the higher TF to confirm trend...which in my eyes is UP...so i would have took the trade.

I still have alot to learn....
  • #4,060
  • Jul 27, 2011 12:34am Jul 27, 2011 12:34am
Has anyone here (who uses 4 digit brokers) seen any weirdness with the ZZ3 semafor on a 4 digit broker? Mine seems to throw in extra 3's for no apparent reason, but only on the M15.
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