Price Action Trading with Indicators! The Freebie System | Page 228 | Forex Factory

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Price Action Trading with Indicators! The Freebie System

  • #4,541
  • Aug 11, 2011 3:58am Aug 11, 2011 3:58am
Quoting Dredding82
You can try and "Guess" the bottom...but just use really small lots....but the SMART way it to let it make the breakout....then jump in on the retrace....thats the beauty of the system...if your trading the M15 but looking at the H4 for trend...Guess what! Your really trading the H4! lol Your just being smart and using a smaller TF to get in on the retrace of the HIGHER TF....
This is one of my favorite remarks made by Dredding82
  • #4,542
  • Aug 11, 2011 5:09am Aug 11, 2011 5:09am
Quoting Dredding82
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

Only problem I had in the beginning was my inability to consistently trade the lower timeframes due to work commitments. You see... I am the man.... I own the business... therefore I have to spend a lot of time tending to it. But that's ok... I do like the larger timeframes much better...
  • #4,543
  • Aug 11, 2011 5:14am Aug 11, 2011 5:14am
Quoting prof8t
Only problem I had in the beginning was my inability to consistently trade the lower timeframes due to work commitments. You see... I am the man.... I own the business... therefore I have to spend a lot of time tending to it. But that's ok... I do like the larger timeframes much better...
Yes i know..i was not saying you were not getting the system...just you were not trading the right TF.
  • #4,544
  • Aug 11, 2011 5:15am Aug 11, 2011 5:15am
YAWN! Need i say anything?
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  • #4,545
  • Aug 11, 2011 5:23am Aug 11, 2011 5:23am
Quoting Dredding82
YAWN! Need i say anything?
Another one I missed and had to Bosolo trade. Good for +50 though...
  • #4,546
  • Aug 11, 2011 5:24am Aug 11, 2011 5:24am
Quoting prof8t
Another one I missed and had to Bosolo trade. Good for +50 though...
Thats the best thing about BOLOSO...set and forget..just set a TSL to 1:1 for a just incase and dont worry about it lol
  • #4,547
  • Aug 11, 2011 5:45am Aug 11, 2011 5:45am
thanks Dredding 82 I have just finished reading from post 1 on page 1 304 pages later I got to end . I must say I have found some interesting reading here and thanks to all that put the time into thread. I'll have some time out and be back next week for a test run. Keen on the HTF . Top marks to all Thanks
  • #4,548
  • Aug 11, 2011 8:45am Aug 11, 2011 8:45am
Still reading the whole topic, and in the meantime looking at the charts.

Some sort of possible setup forming on EU and EJ?
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  • #4,549
  • Aug 11, 2011 4:22pm Aug 11, 2011 4:22pm
Good thread indeed. A question to all who have been using this sytem for a while. I trade from a 15 min chart. Is it worth it to trade this sytem at any time of the day (or night) knowing that once London closes, the market generally dries down? My assumption is that trading on such a short time frame, I'd have to babysit the trade for hours just to get the 20 to 25 pips that the market typically makes after the London session. Thanks.
  • #4,550
  • Aug 12, 2011 12:32am Aug 12, 2011 12:32am
Quoting jdcool10
Good thread indeed. A question to all who have been using this sytem for a while. I trade from a 15 min chart. Is it worth it to trade this sytem at any time of the day (or night) knowing that once London closes, the market generally dries down? My assumption is that trading on such a short time frame, I'd have to babysit the trade for hours just to get the 20 to 25 pips that the market typically makes after the London session. Thanks.

Once again....TRADE PAIRS WHEN THAT PAIRS BANKS ARE OPEN...That is when there is VOLUME in that PAIR....So if you are trading the ASIAN session...What pairs do you want to trade? DUH! lol If trading LONDON...What pairs do you want to trade? If trading the US ...What pairs do you want to trade.

If you are not seeing the movement you want then GO TO A HIGHER TF.........
  • #4,551
  • Aug 12, 2011 1:52am Aug 12, 2011 1:52am
Hi!

Just sold the EJ (on the retrace, last candle in the chart), this shall be by-the-rules.
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  • #4,552
  • Aug 12, 2011 1:58am Aug 12, 2011 1:58am
Quoting SteMag
Hi!

Just sold the EJ (on the retrace, last candle in the chart), this shall be by-the-rules.

Looks GOOD to me....well from the pic, havent pulled up the chart though lol
  • #4,553
  • Aug 12, 2011 2:04am Aug 12, 2011 2:04am
Quoting Dredding82
Looks GOOD to me....well from the pic, havent pulled up the chart though lol
Yeah, i know that, it's FRIDAY

I'm in @109, 2pips floating now, tgt@74 (M2), SL@17 (last H)
  • #4,554
  • Aug 12, 2011 2:06am Aug 12, 2011 2:06am
Quoting SteMag
Yeah, i know that, it's FRIDAY

I'm in @109, 2pips floating now, tgt@74 (M2), SL@17 (last H)
Out at +24 pips net
  • #4,555
  • Aug 12, 2011 2:07am Aug 12, 2011 2:07am
Quoting SteMag
Yeah, i know that, it's FRIDAY

I'm in @109, 2pips floating now, tgt@74 (M2), SL@17 (last H)
Fridays are good days to trade....alot of people are unloading there orders from the week....well the NEWBIES! lol so just make sure there are some kind of reports or something happening in the world that day...and MAKE THEM PIPS! lol
  • #4,556
  • Aug 12, 2011 2:10am Aug 12, 2011 2:10am
Quoting Dredding82
Fridays are good days to trade....alot of people are unloading there orders from the week....well the NEWBIES! lol so just make sure there are some kind of reports or something happening in the world that day...and MAKE THEM PIPS! lol
Looking forward to it, i'm waiting by the window now
  • #4,557
  • Aug 12, 2011 2:13am Aug 12, 2011 2:13am
Loving that DROP on a FRIDAY arent you? lmao!
  • #4,558
  • Aug 12, 2011 2:15am Aug 12, 2011 2:15am
Quoting SteMag
Out at +24 pips net
You need to use better JUDGEMENT! 24 pips is alittle more the 1:1 risk:reward since i think you said your SL was 17 pips away...next time cut your lots down and leave your SL or just wait for it to hit a 1:2 and cut your lots...you have to let your winners WIN......

In other words...dont just CLOSE your order because YOU ARE SCARED of a LOSER....Let it hit a TP area then close it...or close a % of your lots and "RIDE THAT TREND TILL THE END" lol
  • #4,559
  • Aug 12, 2011 2:20am Aug 12, 2011 2:20am
Quoting Dredding82
You need to use better JUDGEMENT! 24 pips is alittle more the 1:1 risk:reward since i think you said your SL was 17 pips away...next time cut your lots down and leave your SL or just wait for it to hit a 1:2 and cut your lots...you have to let your winners WIN......

In other words...dont just CLOSE your order because YOU ARE SCARED of a LOSER....Let it hit a TP area then close it...or close a % of your lots and "RIDE THAT TREND TILL THE END" lol
Indeed
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  • #4,560
  • Aug 12, 2011 2:29am Aug 12, 2011 2:29am
Quoting SteMag
Indeed
It will come with chart time....But a winner always feels better then a loser! lol
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