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Price Action Trading with Indicators! The Freebie System

  • #4,521
  • Edited 5:32pm Aug 10, 2011 5:10pm | Edited 5:32pm
Quoting jpdwilson
Great trading my friend. These last few days have been too easy. Is it always like this?

Most weeks..YES..You just have to FOLLOW the MONEY...and the pips FLOW in. Making 200%+ on your account in a few days...NO, not unless you trade like a MAD MAN and HOLD your positions. Every position that account is in are "RISK FREE TRADES" but from what i was told earlier there is no such thing and the stops ALWAYS get hit, right?.....
  • #4,522
  • Edited 11:52pm Aug 10, 2011 5:50pm | Edited 11:52pm
YEE-HAW! RIDE THEM TRENDS!
http://www.youtube.com/watch?v=LiE1VgWdcQM
  • #4,523
  • Aug 10, 2011 6:30pm Aug 10, 2011 6:30pm
Quoting Dredding82
YEE-HAW! RIDE THEM TREND!
Well, I reckon I will!!
Damn The Torpedoes, Full Speed Ahead!
  • #4,524
  • Aug 10, 2011 11:48pm Aug 10, 2011 11:48pm
Quoting jpdwilson
Great trade. Again, a full 3:1 RR with very little DD.

I'm liking the GBP/JPY, I used to be scared of it.
KILLER TRADE...i took the GbpUsd M15 short when it failed at the pivot line. Got in a bit eariler but R:R was there for both trades.
  • #4,525
  • Aug 11, 2011 1:35am Aug 11, 2011 1:35am
Hi everyone, i just had a loss.

I entered at the close of the marked candle, SL@4250.

Was this my error or it was just a random loss "by the rules"?

Thanks a lot.
Attached Image (click to enlarge)
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  • #4,526
  • Aug 11, 2011 1:45am Aug 11, 2011 1:45am
Quoting SteMag
Hi everyone, i just had a loss.

I entered at the close of the marked candle, SL@4250.

Was this my error or it was just a random loss "by the rules"?

Thanks a lot.

Just looking at the chart without checking the higher timeframes, you should be able to see that the market was making higher highs and lows. Therefore, probably not a good trade to take.
  • #4,527
  • Aug 11, 2011 1:59am Aug 11, 2011 1:59am
Wanted to demonstrate something really nice about Dred's strategy. As you can see from the chart below, there was a nice bounce off the M2 pivot that resulted in a nice price reversal to the upside. This bounce occured just before the start of the day (three candles before the dotted white line).

Well... I missed that opportunity as well as a possible re-entry opportunity (first green candle after the first low green dot following the blue horizontal line). Now, one problem with the possible re-entry here was that the stochastic had crossed down and had not crossed back up to confirm the direction. And while I know that you could have theoretically taken a calculated risk and entered anyways, I wanted to look for a little more confirmation. So guess what I did???

I used Dred's Bosolo strategy here (blue line) and since it was a test, I decided to take the touch of the M3 line for profits (about 27 pips). Dred's Bosolo strategy is a very nice seamless integration into this strategy, and in this case served as a last ditch resort to capturing a few pips from a missed trade. Thanks for the new modified strategy Dred!!!
Attached Image (click to enlarge)
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  • #4,528
  • Aug 11, 2011 2:08am Aug 11, 2011 2:08am
Quoting SteMag
Hi everyone, i just had a loss.

I entered at the close of the marked candle, SL@4250.

Was this my error or it was just a random loss "by the rules"?

Thanks a lot.
Load the TEMPLATE i gave out for FREE....EurUsd is UP right now...All HAs are green...I have made it SO easy for you newer guys/gals....so use what i give you, if you dont like the colors then CHANGE THEM lol but im going to tell you looking at a white screen all day will KILL your EYES! Trust me. But if we were looking for shorts then YES it would have been a good enter.
  • #4,529
  • Aug 11, 2011 2:12am Aug 11, 2011 2:12am
Quoting prof8t
Wanted to demonstrate something really nice about Dred's strategy. As you can see from the chart below, there was a nice bounce off the M2 pivot that resulted in a nice price reversal to the upside. This bounce occured just before the start of the day (three candles before the dotted white line).

Well... I missed that opportunity as well as a possible re-entry opportunity (first green candle after the first low green dot following the blue horizontal line). Now, one problem with the possible re-entry here was that the stochastic had crossed down...

AH!!! Someone is adding 2+2 now.....Which = PIPS! lol
  • #4,530
  • Aug 11, 2011 2:16am Aug 11, 2011 2:16am
Quoting Dredding82
AH!!! Someone is adding 2+2 now.....Which = PIPS! lol

I'm a fast learner my friend... Now bring on that PRO strategy... LOL...
  • #4,531
  • Aug 11, 2011 2:19am Aug 11, 2011 2:19am
Quoting prof8t
I'm a fast learner my friend... Now bring on that PRO strategy... LOL...

Maybe soon....if i remember correct at the start when i first posted this thread you were having problems for a little while till you went up to the higher TFs....lol
  • #4,532
  • Aug 11, 2011 2:35am Aug 11, 2011 2:35am
Prof8t, you are using pivotsforfreebies right?
Mine just look totally off, even tried the false setting..
Do you have any idea why?


Thanks
Attached Image (click to enlarge)
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  • #4,533
  • Aug 11, 2011 2:37am Aug 11, 2011 2:37am
Quoting fxtrain
Prof8t, you are using pivotsforfreebies right?
Mine just look totally off, even tried the false setting..
Do you have any idea why?


Thanks
Two WORDS...and dont ask again im Fing sick of pivot questions....

Answer: Different BROKERS
  • #4,534
  • Aug 11, 2011 2:43am Aug 11, 2011 2:43am
Sorry, my bad..
Quoting Dredding82
Two WORDS...and dont ask again im Fing sick of pivot questions....

Answer: Different BROKERS
  • #4,535
  • Aug 11, 2011 2:49am Aug 11, 2011 2:49am
Which actually means you're just trading random lines and don't actually need the pivots indis at all. You'd have better luck with actual price pivots and/or supply/demand areas.
P.S. I didn't say stops always get hit, whatever gave anyone that idea?
  • #4,536
  • Aug 11, 2011 2:51am Aug 11, 2011 2:51am
Quoting Goldmember
Which actually means you're just trading random lines and don't actually need the pivots indis at all. You'd have better luck with actual price pivots and/or supply/demand areas.
P.S. I didn't say stops always get hit, whatever gave anyone that idea?
ITS YOUR BROKERS DATA....EVERY BROKER HAS DIFFERENT DATA so they are NOT just random LINES, SO like i have said ANY pivots will work, Any LEVELS!! WILL WORK!.......and YES you did.

Quoting Goldmember
That's what happen s to breakeven stops - they get stopped out.
Im sick of your slick mouth already...IGNORE!
  • #4,537
  • Aug 11, 2011 3:08am Aug 11, 2011 3:08am
Quoting prof8t
Just looking at the chart without checking the higher timeframes, you should be able to see that the market was making higher highs and lows. Therefore, probably not a good trade to take.
Quoting Dredding82
Load the TEMPLATE i gave out for FREE....EurUsd is UP right now...All HAs are green...I have made it SO easy for you newer guys/gals....so use what i give you, if you dont like the colors then CHANGE THEM lol but im going to tell you looking at a white screen all day will KILL your EYES! Trust me. But if we were looking for shorts then YES it would have been a good enter.
ok, thank you for the advice and the tips!

I don 't really have the hang on using that MTF HA indicator.. haven't read about it 'till now, but i'm at about 20% of reding the whole topic, so i will probably read 'bout it in the latter pages.

Keep studying!
  • #4,538
  • Aug 11, 2011 3:13am Aug 11, 2011 3:13am
Trade on EU15' at close of candle or i'm wrong?
Attached Image (click to enlarge)
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  • #4,539
  • Aug 11, 2011 3:16am Aug 11, 2011 3:16am
Quoting SteMag
Trade on EU15' at close of candle or i'm wrong?

Look at #1 post....Are the RULES met?
  • #4,540
  • Aug 11, 2011 3:21am Aug 11, 2011 3:21am
Quoting Dredding82
Look at #1 post....Are the RULES met?
I am a f***ing dumb! :S

No ZigZag on bottom of the price!
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