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Price Action Trading with Indicators! The Freebie System

  • #4,161
  • Aug 1, 2011 2:04am Aug 1, 2011 2:04am
Quoting Udine
To make it easier for yourself, decrease lotsize to the minimum keep trailing the stop with something like ETrailing (attached). So you dont have to worry anymore.

As soon as your trade is in profit with a trailstop you can forget the trade as it is a free trade and you can scan for the next set up.

Udine
thank you udine
looking forward to your suggestion..

pradeep

Quoting Udine
Why dont you wait for a break out of the signal bar, before entering ?? The break out of the signal bars shows you have momentum on your side, so you have a higher probability of success.

Udine
i think i should do as u say..
  • #4,162
  • Aug 1, 2011 2:12am Aug 1, 2011 2:12am
Quoting pradeep22
thank you udine
looking forward to your suggestion..

pradeep



i think i should do as u say..
It is what I do (waiting for the BO), and seems to work LOL

Udine
Sleep less, live fast, as it aint gonna last
  • #4,163
  • Aug 1, 2011 2:28am Aug 1, 2011 2:28am
Quoting pradeep22
Market is going to punish me for being over enthusiastic!!

http://i1178.photobucket.com/albums/...f?t=1312181184
One more thing: what was the situation on the higher timeframes when you entered (Daily, weekly)??

Udine
Sleep less, live fast, as it aint gonna last
  • #4,164
  • Aug 1, 2011 2:34am Aug 1, 2011 2:34am
Quoting Udine
One more thing: what was the situation on the higher timeframes when you entered (Daily, weekly)??

Udine
daily weekly trend is down!!
  • #4,165
  • Aug 1, 2011 2:38am Aug 1, 2011 2:38am
Quoting pradeep22
daily weekly trend is down!!
this is just one of my in total 62 general trading rules, I read before and after the trading day:

56. stop the bleeding: on an upday: only buy & on a down day: only sell !!

You will miss some trades, but your winning strike rate will improve considerably !!

Udine
Sleep less, live fast, as it aint gonna last
  • #4,166
  • Aug 1, 2011 2:48am Aug 1, 2011 2:48am
Quoting Udine
this is just one of my in total 62 general trading rules, I read before and after the trading day:

56. stop the bleeding: on an upday: only buy & on a down day: only sell !!

You will miss some trades, but your winning strike rate will improve considerably !!

Udine
so very true...
lesson learned big time!!
  • #4,167
  • Aug 1, 2011 4:25am Aug 1, 2011 4:25am
Quoting pradeep22
Market is going to punish me for being over enthusiastic!!

http://i1178.photobucket.com/albums/...f?t=1312181184
today seems to be one of the lucky days for me!!
signals taken under this system chances of loss is unlikely
thank you dred

http://i1178.photobucket.com/albums/...f?t=1312190587
  • #4,168
  • Aug 1, 2011 4:25am Aug 1, 2011 4:25am
FYI
Attached File(s)
File Type: pdf The%20Trader%27s%20Hill[1].pdf   46 KB | 823 downloads
Sleep less, live fast, as it aint gonna last
  • #4,169
  • Edited 4:39am Aug 1, 2011 4:27am | Edited 4:39am
Quoting pradeep22
today seems to be one of the lucky days for me!!
signals taken under this system chances of loss is unlikely
thank you dred

http://i1178.photobucket.com/albums/...f?t=1312190587

Where was your SL ?? I can see it, but what made you decide to keep more distance to the lower Semafor ??

Udine
Sleep less, live fast, as it aint gonna last
  • #4,170
  • Aug 1, 2011 4:43am Aug 1, 2011 4:43am
Quoting Udine
Where was your SL ?? I can see it, but what made you decide to keep more distance to the lower Semafor ??

Udine
1.36692

out of experience..
prices come back before a swing low is forming
that is what happened in this case
  • #4,171
  • Aug 1, 2011 4:47am Aug 1, 2011 4:47am
Quoting pradeep22
1.36692

out of experience..
prices come back before a swing low is forming
that is what happened in this case

I ask because according to Paulus rules this was not a trade, but I assume you know that )

Udine
Sleep less, live fast, as it aint gonna last
  • #4,172
  • Aug 1, 2011 4:48am Aug 1, 2011 4:48am
Quoting Udine
I ask because according to Paulus rules this was not a trade, but I assume you know that )

Udine

Maybe not with Paulus...but USING the FREEBIE System ....IT was a trade
  • #4,173
  • Aug 1, 2011 4:51am Aug 1, 2011 4:51am
Quoting Dredding82
Maybe not with Paulus...but USING the FREEBIE System ....IT was a trade
i was about to say the same..

no one knows where prices are heading..
signal is a signal..
all the trades that i have taken have the same setup..
  • #4,174
  • Aug 1, 2011 4:54am Aug 1, 2011 4:54am
Quoting Dredding82
Maybe not with Paulus...but USING the FREEBIE System ....IT was a trade

True.

Sorry about that one !!

Udine
Sleep less, live fast, as it aint gonna last
  • #4,175
  • Aug 1, 2011 4:56am Aug 1, 2011 4:56am
Quoting Whistlepips
Would be nice to see them.

Im not as strict with my trading yet at general level. I keep trading journal and stick with my system, but thats about it at the moment.
No trades today so far.

You've got mail.

Udine
Sleep less, live fast, as it aint gonna last
  • #4,176
  • Aug 1, 2011 5:03am Aug 1, 2011 5:03am
5th trade of the day lets see what market allows!!

http://i1178.photobucket.com/albums/...f?t=1312192966
  • #4,177
  • Aug 1, 2011 5:05am Aug 1, 2011 5:05am
Quoting Udine
You've got mail.

Udine
Thanks. Nice to see them. I think that I have to create something similar to myself.
  • #4,178
  • Aug 1, 2011 5:15am Aug 1, 2011 5:15am
Quoting pradeep22
5th trade of the day lets see what market allows!!

http://i1178.photobucket.com/albums/...f?t=1312192966
Pradeep, how many pairs do you follow?
Simplicity is the ultimate in sophistication ~ Leonardo Da Vinci
  • #4,179
  • Aug 1, 2011 5:31am Aug 1, 2011 5:31am
Quoting fisheggs
Pradeep, how many pairs do you follow?
16 pairs sir
  • #4,180
  • Aug 1, 2011 6:33am Aug 1, 2011 6:33am
Quoting pradeep22
16 pairs sir
Hell !!

You want to be a millionair by next week ???



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