Price Action Trading with Indicators! The Freebie System | Page 220 | Forex Factory

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Price Action Trading with Indicators! The Freebie System

  • #4,381
  • Aug 4, 2011 8:47am Aug 4, 2011 8:47am
Quoting pradeep22
yup!!

http://i1178.photobucket.com/albums/...f?t=1312453672
Nice trade on GBPUSD. I took the earlier one and was stopped out (see sema dot before). What make you not take the earlier one?

Thankyou
  • #4,382
  • Edited 9:17am Aug 4, 2011 9:05am | Edited 9:17am
Quoting Dredding82
Dont move your SL....close out 1/2 your lots. If you can not close out lots because you are trading the smallest lot you can already...well your starting capital is not enough for the account type you have. Which means if you have a standard account you need to open a mini account, if already on a mini account then you need to switch to a mirco acount. Doing this you will be in a risk free trade or you can also close 1/2 of your lots and move your SL to breakeven, with this then you know for a FACT you have made profit(even if only a small %) and...
Ok, so close half of my lots at B/E and let the rest run. Ill give it a try. Ill take a small % over a loss any day. Thanks Dredd!
Damn The Torpedoes, Full Speed Ahead!
  • #4,383
  • Aug 4, 2011 9:14am Aug 4, 2011 9:14am
Quoting pradeep22
even i am having the same problem as dizzlefx..
what a great idea of closing some position and giving room to the others..

today was a great day for me earned around 95 pips just in EU
this system has made me a winner from loser..
thank you Dred!!

http://i1178.photobucket.com/albums/...f?t=1312465282
95 pips....doesnt sound like your having a problem! Nice trading!
Damn The Torpedoes, Full Speed Ahead!
  • #4,384
  • Aug 4, 2011 9:14am Aug 4, 2011 9:14am
Quoting DizzleFX
Ok, so close half of my lots at B/E and let the rest run. Ill give it a try. I guess once the trade is a few candles past myr B/E then move SL to lock in the remainder. Ill take a small % over a loss any day. Thanks Dredd!
Well when ever you would have moved your SL to B/E...that is when you would close 1/2 your lots and either keep your SL the same since now it would be a B/E trade or you would close 1/2 your lots and move SL to the entry price for the small gain. Either which way is reducing risk to protect your capital. Either which way you pick to do it you need to know that it will take alot more of a move to get the % you were first risking.

Say you were risking 2% when the trade was took. After a 1:1 risk:reward was hit you closed 1/2 of your lots, which now leaves you with a 1% profit and also a 1% risk if you did not move your SL. So for you to make the 2% you risked at the start of the trade the pair now needs to move to the 1:2 risk:reward for you to gain the whole 2% you first risked and so on.
  • #4,385
  • Aug 4, 2011 9:17am Aug 4, 2011 9:17am
Quoting pradeep22
even i am having the same problem as dizzlefx..
what a great idea of closing some position and giving room to the others..

today was a great day for me earned around 95 pips just in EU
this system has made me a winner from loser..
thank you Dred!!
Your welcome pradeep22....I took a short on EurUsd myself...closed 1/2 my lots when i got a 1:3 risk:reward and moved SL to entry...RISK FREE TRADE now.
  • #4,386
  • Aug 4, 2011 9:20am Aug 4, 2011 9:20am
Quoting Dredding82
Well when ever you would have moved your SL to B/E...that is when you would close 1/2 your lots and either keep your SL the same since now it would be a B/E trade or you would close 1/2 your lots and move SL to the entry price for the small gain. Either which way is reducing risk to protect your capital. Either which way you pick to do it you need to know that it will take alot move of a move to get the % you were first risking.

Say you were risking 2% when the trade was took. After a 1:1 risk:reward was hit you closed 1/2 of your lots, which...
Sounds good! It makes sence!
Damn The Torpedoes, Full Speed Ahead!
  • #4,387
  • Aug 4, 2011 9:41am Aug 4, 2011 9:41am
Quoting Goldmember
Nice trade on GBPUSD. I took the earlier one and was stopped out (see sema dot before). What make you not take the earlier one?

Thankyou
most of the time
stochs should come down from around 80 levels for sell
reverse for buy.. (i.e. 20 levels)
not a hard rule.. but if it maintains, good!!
sometimes discretion can be used
  • #4,388
  • Aug 4, 2011 9:59am Aug 4, 2011 9:59am
OK, thanks. I know about overbought and oversold levels. It's not part of Dredding's rules though. On post one a lot of the entries are not coming out of overbought/oversold areas either but I'll keep it in mind.

Thanks again.
  • #4,389
  • Aug 4, 2011 10:36am Aug 4, 2011 10:36am
guys,

enjoy August as much as I will.

See you all again week 35.

Leave some pips for me when I get back

Udine
Sleep less, live fast, as it aint gonna last
  • #4,390
  • Aug 4, 2011 11:22am Aug 4, 2011 11:22am
have a good break Udine

Today

GU -5% and short from 1.6313
UC no trade
EU +12% -5% + 14%
AU + 5%

ROC +17% 1 position open

cheers

P
  • #4,391
  • Aug 4, 2011 11:31am Aug 4, 2011 11:31am
Hi Jomadev,

Thanks for the indicator.

Because you have only 1 post so far, you cannot receive private messages. How can we contact you?

DrDave
To free Gazans of Hamas, use whatever it takes.
  • #4,392
  • Aug 4, 2011 1:31pm Aug 4, 2011 1:31pm
Quoting Paulus
have a good break Udine

Today

GU -5% and short from 1.6313
UC no trade
EU +12% -5% + 14%
AU + 5%

ROC +17% 1 position open

cheers

P
GU now closed for 15% as per rules

Return on account + 32%
Attached Image (click to enlarge)
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  • #4,393
  • Aug 4, 2011 2:49pm Aug 4, 2011 2:49pm
Quoting Paulus
GU now closed for 15% as per rules

Return on account + 32%
Thats pretty impressive trading
  • #4,394
  • Aug 4, 2011 3:53pm Aug 4, 2011 3:53pm
Quoting Paulus
GU now closed for 15% as per rules

Return on account + 32%

hi Paulus,

I notceid that you trade with the "camarilla eqaution" indicator.

So it be great to know How and if it fits with the "Freebie" method?

nixi
  • #4,395
  • Aug 4, 2011 4:18pm Aug 4, 2011 4:18pm
very mechanical just follow numbers counts and rules

P
  • #4,396
  • Aug 4, 2011 4:20pm Aug 4, 2011 4:20pm
Quoting Nixi
hi Paulus,

I notceid that you trade with the "camarilla eqaution" indicator.

So it be great to know How and if it fits with the "Freebie" method?

nixi
the equation if you believe the web was written by a forex trader and many regard it as the most powerful but as Dred often says any pivots will do

Iv doubled my account dozens of times using it on this system

cheers

P
  • #4,397
  • Aug 4, 2011 4:59pm Aug 4, 2011 4:59pm
Quoting Paulus
the equation if you believe the web was written by a forex trader and many regard it as the most powerful but as Dred often says any pivots will do

Iv doubled my account dozens of times using it on this system

cheers

P
I belive in 2 things in forex:
1. support & ressintens, that "creat" next day pivots.
2. round numbers - Because that's all the "fight" - the Price!!

I will be happy if you PM me, or even write here the rules and indictors YOU following them in the way for success.

cheers

nixi
  • #4,398
  • Aug 4, 2011 5:46pm Aug 4, 2011 5:46pm
Took this trade earlier today during my lunch. Got home had about 80 pips in the bank! LOVIN IT! Moved my SL to BE and closed half of my lots! Thanx Dredd! I might have to make a visit to the strip club as well, I think I feel like making it RAIN this weekend! Haha!

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd0804.gif Size: 36 KB
Damn The Torpedoes, Full Speed Ahead!
  • #4,399
  • Aug 4, 2011 7:11pm Aug 4, 2011 7:11pm
Well... I thought this one would run out of steam but it's still going. Almost +300 pips so far...
Attached Image (click to enlarge)
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  • #4,400
  • Aug 4, 2011 8:05pm Aug 4, 2011 8:05pm
A heck of a trade..
Nice job.
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