Price Action Trading with Indicators! The Freebie System | Page 213 | Forex Factory

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Price Action Trading with Indicators! The Freebie System

  • #4,241
  • Aug 2, 2011 3:57am Aug 2, 2011 3:57am
Quoting DrDave
Man, did you forget that he is trying to turn his $10,000 account to 1 million in 2 weeks??
DrDave

I did and I hope he does too

Udine
Sleep less, live fast, as it aint gonna last
  • #4,242
  • Aug 2, 2011 4:03am Aug 2, 2011 4:03am
Quoting DrDave
Jasjit,
Turn on HA candles. Look on any chart where it is OBVIOUS that price is moving from the lower left of the screen to the upper right. Now find any swing low. After the swing low, count how many consecutive up bars there are. Do this for 10-100 examples on that time frame. What is the smallest number, the largest number, and the average number? Does this tell you something?
Repeat but count the counter-trend down bars.
[font=Calibri][size=3]Any...
Nice post DrD
  • #4,243
  • Aug 2, 2011 4:05am Aug 2, 2011 4:05am
Quoting DrDave
Jasjit,
Turn on HA candles. Look on any chart where it is OBVIOUS that price is moving from the lower left of the screen to the upper right. Now find any swing low. After the swing low, count how many consecutive up bars there are. Do this for 10-100 examples on that time frame. What is the smallest number, the largest number, and the average number? Does this tell you something?
Repeat but count the counter-trend down bars.
[font=Calibri][size=3]Any...

DrDave,

Thank you very much fro your advice - I will definitely look into it.

Sorry to say that I misunderstood the purpose of looking at the higher time charts. This is all very new to me. Until a few weeks ago Forex to me was changing currency for my holidays . That's not an excuse - just an indication of my total lack of knowledge. And being an older fello, it kinda takes longer to absorb new things. I am slowly but surely coming to grips with it - only 7 years more of studying to be a professional trader

I really do appreciate all the knowledge that is being freely shared by people like yourself, Dred and many others.

Thanks again

Jasjit
  • #4,244
  • Aug 2, 2011 4:24am Aug 2, 2011 4:24am
EurUsd is in a CLEAR down trend so when i got the change of the HA i did not wait for the stoch to confirm also since it was a CLEAR rejection from a pivot level.

***EDIT** Moved SL to 1 pip below the enter to lock in just 1 pip of profit.....Risk Free Trade now.........
Attached Image (click to enlarge)
Click to Enlarge Name: euro.jpg Size: 117 KB
  • #4,245
  • Aug 2, 2011 4:30am Aug 2, 2011 4:30am
Quoting Dredding82
EurUsd is in a CLEAR down trend so when i got the change of the HA i did not wait for the stoch to confirm also since it was a CLEAR rejection from a pivot level.

Good trade. Do you wait for the low/high of the signal HA candle to be broken or do you simply place a trade at the open of the next candle after the colour change?
  • #4,246
  • Aug 2, 2011 4:32am Aug 2, 2011 4:32am
Quoting Delite
Good trade. Do you wait for the low/high of the signal HA candle to be broken or do you simply place a trade at the open of the next candle after the colour change?
Color change is enough for me. Well as long as there is a fail at a pivot & Stoch looks to be heading down or already crossed.
  • #4,247
  • Aug 2, 2011 4:32am Aug 2, 2011 4:32am
Quoting jasjit
Hi Pradeep,

Can you please tell me what is the set up you have to watch the 16 pairs.

I am having trouble watching just 4 pairs . Thanks

Jasjit
Ctrl + tab

if with these system one has to think so much then there is no point in using this system
all the hard work has already been done by Dred!!
just take the signals..
manage the trade.. move to BE if in profit
target 1:1 r:r..
any furhter analysis is futile for me..
pradeep
  • #4,248
  • Aug 2, 2011 4:32am Aug 2, 2011 4:32am
Quoting Dredding82
EurUsd is in a CLEAR down trend so when i got the change of the HA i did not wait for the stoch to confirm also since it was a CLEAR rejection from a pivot level.

***EDIT** Moved SL to 1 pip below the enter to lock in just 1 pip of profit.....Risk Free Trade now.........

We had the same entry...

I said I was done for the day, but this is easy money !!

Udine
Sleep less, live fast, as it aint gonna last
  • #4,249
  • Aug 2, 2011 4:33am Aug 2, 2011 4:33am
Quoting Dredding82
Color change is enough for me.

Thanks. Where in the US are you?
  • #4,250
  • Aug 2, 2011 4:34am Aug 2, 2011 4:34am
Quoting DrDave
Man, did you forget that he is trying to turn his $10,000 account to 1 million in 2 weeks??
DrDave
what if the account size is 100k?
  • #4,251
  • Aug 2, 2011 4:40am Aug 2, 2011 4:40am
For anyone that cares........GbpUsd is "gearing up" for a BREAKOUT..........lol

So use the Freebie Newbie System to trade a BREAKOUT.....


See a range.......Place limit orders at the last ZZ Dots plus SPREAD.......Just remember TREND or do both if you have good Money Mangement SKILLZ.....lol

**EDIT** I wont get into much detail on the subject or about SL/TP/BE..etc...but just look at the charts.....they speak for them self.
  • #4,252
  • Aug 2, 2011 4:46am Aug 2, 2011 4:46am
Quoting Dredding82
For anyone that cares........GbpUsd is "gearing up" for a BREAKOUT..........lol

So use the Freebie Newbie System to trade a BREAKOUT.....


See a range.......Place limit orders at the last ZZ Dots plus SPREAD.......Just remember TREND or do both if you have good Money Mangement SKILLZ.....lol

**EDIT** I wont get into much detail on the subject or about SL/TP/BE..etc...but just look at the charts.....they speak for them self.
dred
i m confused
moving stop to BE

http://i1178.photobucket.com/albums/...f?t=1312278372
  • #4,253
  • Aug 2, 2011 4:49am Aug 2, 2011 4:49am
Quoting pradeep22
dred
i m confused
moving stop to BE
Look at the H1 chart..........then you would not be confused.....And DO NOT LET ME TRADE FOR YOU! That is just F*UCKING being LAZY! You need to beable to see these things on your own and not rely on someone to tell or show you these things.

"Scared Money Does Not Make MONEY!"
  • #4,254
  • Aug 2, 2011 4:51am Aug 2, 2011 4:51am
Quoting Dredding82
Look at the H1 chart..........then you would not be confused.....And DO NOT LET ME TRADE FOR YOU! That is just F*UCKING being LAZY! You need to beable to see these things on your own and not rely on someone to tell or show you these things.

"Scared Money Does Not Make MONEY!"
BTW....Im SHORT...and i dont care if i hit SL or not......its called MONEY MANGEMENT...........lol
  • #4,255
  • Aug 2, 2011 4:53am Aug 2, 2011 4:53am
Quoting Dredding82
Look at the H1 chart..........then you would not be confused.....And DO NOT LET ME TRADE FOR YOU! That is just F*UCKING being LAZY! You need to beable to see these things on your own and not rely on someone to tell or show you these things.

"Scared Money Does Not Make MONEY!"
students rely on their masters if allowed!!

even H1 is down i think..

just this trade if u can explain it would be good learning!!

thank you
pradeep
  • #4,256
  • Aug 2, 2011 4:54am Aug 2, 2011 4:54am
Quoting pradeep22
students rely on their masters if allowed!!

even H1 is down i think..

just this trade if u can explain it would be good learning!!

thank you
pradeep

NOPES Not talking about it...See what YOU see and TRADE IT...just look at your chart man....What is the PAIR doing? RANGE! So what have i always said? RANGE = BREAKOUT.........Easy....
  • #4,257
  • Aug 2, 2011 4:56am Aug 2, 2011 4:56am
Quoting Dredding82
BTW....Im SHORT...and i dont care if i hit SL or not......its called MONEY MANGEMENT...........lol

ohh!! even i was short for the last 3 and half hours..
your gearing up comment i thought it is going up..
thanks
  • #4,258
  • Aug 2, 2011 4:58am Aug 2, 2011 4:58am
Quoting pradeep22
ohh!! even i was short for the last 3 and half hours..
your gearing up comment i thought it is going up..
thanks
Gearing up is a mass amount of buying and selling or that is what i mean by it...which causes a RANGE. When Buyers>Sellers=BREAKOUT or If Sellers>Buyers=BREAKOUT

Gearing up...like pressing the gas pedal in your car but you not having your car in gear...but your ready to BURN RUBBER! lol Just have to either drop it in 1st gear or reverse then dump the clutch
  • #4,259
  • Aug 2, 2011 4:59am Aug 2, 2011 4:59am
All of these taken on the daily chart...

EUR/CAD - First position closed with +50. Second position now at B/E.

GBP/USD - First position closed with +50. Second position now at B/E.

EUR/USD - First position closed with +100. Second position now at B/E.

Total profit +200 with more to come hopefully.
  • #4,260
  • Aug 2, 2011 5:02am Aug 2, 2011 5:02am
Quoting prof8t
All of these taken on the daily chart...

EUR/CAD - First position closed with +50. Second position now at B/E.

GBP/USD - First position closed with +50. Second position now at B/E.

EUR/USD - First position closed with +100. Second position now at B/E.

Total profit +200 with more to come hopefully.
GREAT TRADING prof8t! Keep up the good trades along with MM and you will reach all your goals.
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