Price Action with Indicators! ~The Freebie Newbie BOLOSO System~ | Page 2 | Forex Factory

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Attachments: Price Action with Indicators! ~The Freebie Newbie BOLOSO System~
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Price Action with Indicators! ~The Freebie Newbie BOLOSO System~

  • #21
  • Aug 6, 2011 1:49pm Aug 6, 2011 1:49pm
I will try it and speak my mind on it.
  • #22
  • Aug 6, 2011 5:12pm Aug 6, 2011 5:12pm
Will try this and use it in conjunction with original Freebie Newbie original...

Looking forward to FNPro

Thanks D82...
Think Outside the Box.....
  • #23
  • Aug 6, 2011 7:25pm Aug 6, 2011 7:25pm
Thanks again for helping us all become better traders.
  • #24
  • Aug 6, 2011 11:51pm Aug 6, 2011 11:51pm
Hey Dred..

Good stuff you have here. I'll be following.
  • #25
  • Aug 7, 2011 12:09am Aug 7, 2011 12:09am
Price action made easy...very nice Dread..
  • #26
  • Aug 7, 2011 2:38am Aug 7, 2011 2:38am
Quoting orderphlow
Your OP has me thinking infomercial for some reason.... Just sayin'

(disregarding method merit etc)

But GL none the less!
Well im young and cocky........lol the only difference i guess is that i am sharing it for FREE...lol
  • #27
  • Aug 7, 2011 2:40am Aug 7, 2011 2:40am
Quoting outman
I will try it and speak my mind on it.
Besides "speaking your mind"....post pictures of trades you take and i will tell you if you are doing something wrong....that way you dont say bad things because you were not following the 3 simple rules. But if you have a good MM plan in place then your set...
  • #28
  • Aug 7, 2011 2:41am Aug 7, 2011 2:41am
Quoting e-trader
Will try this and use it in conjunction with original Freebie Newbie original...

Looking forward to FNPro

Thanks D82...
Dont over load yourself with trading systems...if you are already ok trading the first system i posted here then go ahead. If not then you would just try this on the higher TFs till you either get the first one or this one shows it is easier for you to trade.

Since most that are in my other thread get why and how it works i thought i would start slow with breakout trades before i let the Freebie PRO System out to the public....
  • #29
  • Aug 7, 2011 3:04am Aug 7, 2011 3:04am
Quoting Dredding82
Dont over load yourself with trading systems...if you are already ok trading the first system i posted here then go ahead. If not then you would just try this on the higher TFs till you either get the first one or this one shows it is easier for you to trade.

Since most that are in my other thread get why and how it works i thought i would start slow with breakout trades before i let the Freebie PRO System out to the public....
Good point. Nice to be present from the beginning of this thread. I can be the first one to ask the questions
1. I checked the ZZ semafor indi and its settings are a bit different than in the freebie newbie. Have you tweaked them to work better with this approach? Maybe only for M15?
2. About TP rules. RR 1:1-1:4 (+risk/reward). Does this mean that you aim atleast 2:1 and do you use the same money management rules than in freebie newbie (2 positions and the first closed at RR 1:1 (or 2:1 with this approach?))
3. About the trades in your pics on that first post. Both of them are taken from the first pullback of a starting M15 trend. Would you be restricting this method only to this first pullback (or the second included, or all pullbacks)? Checked the charts yesterday and it seems that probabilities are higher if you only (try to) take the first one.

BTW I think that I see your idea this being the first step with BO trades.
  • #30
  • Aug 7, 2011 3:38am Aug 7, 2011 3:38am
Quoting Whistlepips
Good point. Nice to be present from the beginning of this thread. I can be the first one to ask the questions
1. I checked the ZZ semafor indi and its settings are a bit different than in the freebie newbie. Have you tweaked them to work better with this approach? Maybe only for M15?
2. About TP rules. RR 1:1-1:4 (+risk/reward). Does this mean that you aim atleast 2:1 and do you use the same money management rules than in freebie newbie (2 positions and the first closed at RR 1:1 (or 2:1 with this approach?))
3. About the trades in your pics...
Look at a chart while reading the #1 post....all answers are there you just need to STOP OVER THINKING! which you do way to much man lol

I never said open 2 positions with ANY system i have talked about...

Risk:Reward is RISK REWARD....There is not magic answer to what ratio to close your whole position on....Money Mangement is KEY to any system and it working for the trader. 1:1 is just the smallest amount of profit you should look to close your position...For this system or ANY system..

It is UP TO YOU when you WANT TO TRADE...THERE IS NO MAGIC TIME.....But as everyone knows the markets move more when that pairs banks are open.
  • #31
  • Aug 7, 2011 4:17am Aug 7, 2011 4:17am
Quoting Dredding82
Look at a chart while reading the #1 post....all answers are there you just need to STOP OVER THINKING! which you do way to much man lol

I never said open 2 positions with ANY system i have talked about...

Risk:Reward is RISK REWARD....There is not magic answer to what ratio to close your whole position on....Money Mangement is KEY to any system and it working for the trader. 1:1 is just the smallest amount of profit you should look to close your position...For this system or ANY system..

It is UP TO YOU when you WANT TO TRADE...THERE IS NO...
Thanks man. Sorry about those positions. Mixed my ways and your sayings (I open several positions, because I can close only an entire position at a time (not half positions like you mentioned on that other thread) in my broker.

You are right with that Im overthinking, but Im not sure if I can help myself from making things complex while learning them but I sure can make less questions, lol
  • #32
  • Edited 5:04am Aug 7, 2011 4:21am | Edited 5:04am
Quoting Whistlepips
Thanks man. Sorry about those positions. Mixed my ways and your sayings (I open several positions, because I can close only an entire position at a time (not half positions like you mentioned on that other thread) in my broker.

You are right with that Im overthinking, but Im not sure if I can help myself from making things complex while learning them but I sure can make less questions, lol
If you can not close a % of your lots from just one trade...then like i have said your starting capital is not enough for the account type you have since you are only able to trade the smallest lot size your broker offers. You should down grade your account status so that you can do so.

**EDIT** Just so you know...if on a standard account 10 cent is 0.01 lots...on a mirco account 10 cent would be 1.0 lots...so you can still trade the same amount but with the different account type you will beable to imply better MONEY MANAGEMENT, you will also be trading on the RIGHT account type for your starting capital.
  • #33
  • Aug 7, 2011 6:04am Aug 7, 2011 6:04am
hi dredding... can you put the indicators, please?... I Canīt open the zip

thanks
  • #34
  • Aug 7, 2011 6:09am Aug 7, 2011 6:09am
Quoting porfirio
hi dredding... can you put the indicators, please?... I Canīt open the zip

thanks
They are in the zip file....so if you can not open it just DOWNLOAD them from doing a search on this site they ARE listed.
  • #35
  • Aug 7, 2011 6:13am Aug 7, 2011 6:13am
hmmm ... dunno, but I could open the zip without any probs ... its all ok
  • #36
  • Aug 7, 2011 6:51am Aug 7, 2011 6:51am
yeah I must read the whole thread first..
  • #37
  • Edited 7:53am Aug 7, 2011 7:42am | Edited 7:53am
Quoting Sarythsaya
Cheers for the thread. Price action is king. Thanks also to Law Girl for the indy. It gives the direction of RSI (3) across five timeframes.

Just be sure to change the settings so that it only shows the trend of the current pair you are looking at - or 15 or so pairs come up at once.
I was asked to post visuals of the aforementioned indy. The first box that is able to be edited in the indy is the "onlyshowcurrentpair" box. I have a screenshot for when it is true and when it is false. Having every pair on one chart can help you target the specific price action that you may be interested in - i can't think of another reason why you would have them all on at once otherwise.

You can change the timeframes to any that you wish - the only limitation is that only 5 can be displayed.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: lawgirl trend 1.gif Size: 20 KB
Click to Enlarge Name: lawgirl trend 3.gif Size: 28 KB
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  • #38
  • Aug 7, 2011 8:05am Aug 7, 2011 8:05am
Quoting Dredding82
If you can not close a % of your lots from just one trade...then like i have said your starting capital is not enough for the account type you have since you are only able to trade the smallest lot size your broker offers. You should down grade your account status so that you can do so.

**EDIT** Just so you know...if on a standard account 10 cent is 0.01 lots...on a mirco account 10 cent would be 1.0 lots...so you can still trade the same amount but with the different account type you will beable to imply better MONEY MANAGEMENT, you will also...
Thats a good point. I may have to change my broker in order to do this.
  • #39
  • Aug 7, 2011 2:49pm Aug 7, 2011 2:49pm
D82,

Thanks for sharing your system.

Correct determination of the trend is oft times a fickle choice. Direction can reverse on a dime. Why not let the actual price action determine the direction?

We will maintain your trading method but PA allows us to make a profit with a move in either direction. Simply straddle pending orders on the corresponding zz/semafor points for a breakout in either direction. Cancel the order that doesn't get hit.

Best regards,
BC2
  • #40
  • Aug 7, 2011 8:28pm Aug 7, 2011 8:28pm
Quoting Bobcat2
D82,

Thanks for sharing your system.

Correct determination of the trend is oft times a fickle choice. Direction can reverse on a dime. Why not let the actual price action determine the direction?

We will maintain your trading method but PA allows us to make a profit with a move in either direction. Simply straddle pending orders on the corresponding zz/semafor points for a breakout in either direction. Cancel the order that doesn't get hit.

Best regards,
BC2
Yes you can use this as a breakout straddle system...if you do not wish to trade with the trend...But do remember TREND is your friend...and if you go with it...its ALOT easier most times to make profits and let them ride instead of losing trades or not getting a good Risk:Reward ratio.
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