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Price Action Trading with Indicators! The Freebie System

  • #4,581
  • Aug 12, 2011 6:16am Aug 12, 2011 6:16am
Quoting jibjib210
LOL yea i just went back and checked Paulus' and Dreds charts and strategies. I was way off in my trading strategy this couple of days. I was soo focused on just picking out HH HL that I didn't realize the other trades I could have taken. You cannot back test Paulus' system the lines change everyday? I refuse to go to higher TF. I am to ignorant to feel that I wasted my time with M5. I want to suceed on M5 trading and also lack patience to see a candle every 15 mins or more .

Thanks for the advice
Well take the freebiestyle on M1 (jk).
There should be enough gunslinging to ya

Seriously speaking. You should be able to see the probabilities also afterwards if you keep a trading journal. And please keep us informed how do you manage with it.
  • #4,582
  • Aug 12, 2011 6:30am Aug 12, 2011 6:30am
Quoting Whistlepips
Well take the freebiestyle on M1 (jk).
There should be enough gunslinging to ya

Seriously speaking. You should be able to see the probabilities also afterwards if you keep a trading journal. And please keep us informed how do you manage with it.
LMAO! Yea I am keeping a screen shot of every trade I take so I can refer back to the entry point and result at the end of the day and learn from my mistakes.

You really want me to tell you how I do lol? I thought you guys would'nt of cared if a 16 year old made a few couple of bucks. It's not really worth somthing to me untill I cross the $1000 dollar mark.
  • #4,583
  • Aug 12, 2011 6:45am Aug 12, 2011 6:45am
Quoting jibjib210
LMAO! Yea I am keeping a screen shot of every trade I take so I can refer back to the entry point and result at the end of the day and learn from my mistakes.

You really want me to tell you how I do lol? I thought you guys would'nt of cared if a 16 year old made a few couple of bucks. It's not really worth somthing to me untill I cross the $1000 dollar mark.
Always nice to know if someone is making money, lol
  • #4,584
  • Aug 12, 2011 6:51am Aug 12, 2011 6:51am
Quoting jibjib210
LMAO! Yea I am keeping a screen shot of every trade I take so I can refer back to the entry point and result at the end of the day and learn from my mistakes.

You really want me to tell you how I do lol? I thought you guys would'nt of cared if a 16 year old made a few couple of bucks. It's not really worth somthing to me untill I cross the $1000 dollar mark.
Thats the wrong mind set man! You should CARE...You should have treated them demo accounts as REAL money! It should be worth something to you even if you only make $1 dollar....Treat it serious and you WILL make money...Think trading is a joke or treat is as such..then you will LOSE!
  • #4,585
  • Aug 12, 2011 9:41am Aug 12, 2011 9:41am
Folks the week isn't yet ended, shorted the GU, is that ok?
Attached Image (click to enlarge)
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  • #4,586
  • Aug 12, 2011 9:48am Aug 12, 2011 9:48am
Quoting SteMag
Folks the week isn't yet ended, shorted the GU, is that ok?
If I understood your entry correctly to me that looks like a counter trend trade MTF HA H4 being green. May I ask, what was your logic for taking this short. I would have been looking for longs 4H HA being green. GU M15 may be making a higher low as we speak.
  • #4,587
  • Aug 12, 2011 9:56am Aug 12, 2011 9:56am
Quoting Whistlepips
If I understood your entry correctly to me that looks like a counter trend trade MTF HA H4 being green. May I ask, what was your logic for taking this short. I would have been looking for longs 4H HA being green. GU M15 may be making a higher low as we speak.
Out at +2, need to go now.

Yes, that trade was completley wrong.

I saw that 4h MTF was green, but i tried the trade anyway, without considering the rising lows.

MY BAD indeed.
  • #4,588
  • Aug 12, 2011 10:15am Aug 12, 2011 10:15am
Quoting SteMag
Out at +2, need to go now.

Yes, that trade was completley wrong.

I saw that 4h MTF was green, but i tried the trade anyway, without considering the rising lows.

MY BAD indeed.
I think that I got your point of taking this trade. Were you thinking that the yellow zzdot may be the yellow zztop If thats the case, I suggest that you dont solely count on ZZ´z. Thats just a heads up.

Wouldnt be the first time the H4 HA changes colour during the way down, but that one wouldnt met freebierules anyway. Atleast if I have understood them correctly. In addition all the higher tf´s are pointing north.
  • #4,589
  • Aug 12, 2011 1:45pm Aug 12, 2011 1:45pm
Quoting Dredding82
Thats the wrong mind set man! You should CARE...You should have treated them demo accounts as REAL money! It should be worth something to you even if you only make $1 dollar....Treat it serious and you WILL make money...Think trading is a joke or treat is as such..then you will LOSE!
LOL I am not sure I should. Isn't one of the most important rules of trading to trade with no emotions and trade what you see not what you feel. That is why I specifically traded with amount I do not feel emotionally attached to if lost.

I take it seriously I wait patiently for the best trades possible though once in a trade with following the rules I do not care about the money lost or made.

I like to think that if I can trade without having care for the pocket change I make, then when I hit the $1000 mark and the money does have value to me I will be used to trading without emotions and trade with big amounts of money exactly how I am trading with small amounts.

If that makes any sense lol
  • #4,590
  • Aug 13, 2011 3:20pm Aug 13, 2011 3:20pm
Quoting jibjib210
I do not have any financial goals. I am 16 years old and I am in the learning process. Sorry but I also do not believe in daily goals. I feel that if you restrict yourself to just a certain number then when there is bad trading days you will be forced to take trades to meet your daily goal. I would rather just take every trade that I feel best fits my rules. As long as at the end of the day I am in profit I am satisfied.

Thanks for the advice.
Consider changing "daily goal" to "daily condition". Then, use two conditons: 1) if positive condtion is met (e.g. made >19 pips today ), stop trading; 2) if negative condition is met (e.g., lost 1% of my account today), stop trading.

Then there is never any pressure to "take trades to meet your daily goal" on "bad trading days".

DrDave
To free Gazans of Hamas, use whatever it takes.
  • #4,591
  • Aug 13, 2011 6:51pm Aug 13, 2011 6:51pm
Quoting jibjib210
LOL I am not sure I should. Isn't one of the most important rules of trading to trade with no emotions and trade what you see not what you feel. That is why I specifically traded with amount I do not feel emotionally attached to if lost.

I take it seriously I wait patiently for the best trades possible though once in a trade with following the rules I do not care about the money lost or made.

I like to think that if I can trade without having care for the pocket change I make, then when I hit the $1000 mark and the money does have value to...
You need to re think what you just said and what "Trading Without Emotions" means...
  • #4,592
  • Aug 14, 2011 3:37am Aug 14, 2011 3:37am
Quoting DrDave
Consider changing "daily goal" to "daily condition". Then, use two conditons: 1) if positive condtion is met (e.g. made >19 pips today ), stop trading; 2) if negative condition is met (e.g., lost 1% of my account today), stop trading.

Then there is never any pressure to "take trades to meet your daily goal" on "bad trading days".

DrDave
I agree and live by that...
  • #4,593
  • Edited 2:05am Aug 15, 2011 12:00am | Edited 2:05am
I need some testers for my trend indicator...its kind of like the law girl indicator but it uses different indicators for the trend instead of the RSI so i have modified it to see trend WAY BETTER!!, It looks just like it but you can add both to a chart and see mine is way different...first 5-10 people that PM me and are already active in this thread i will send them a copy of it. Please include your EMAIL in the PM so i may send....Im just looking for feed back on how it is working out and if it helps you see the trend even easiser. Since you will just have to look at 1 arrow that is either UP(Green) / DOWN(RED) / NO SIGNAL(GOLD X)
  • #4,594
  • Edited 3:47am Aug 15, 2011 12:32am | Edited 3:47am
Come on guys...Any takers? Gosh never knew helping people to help me would be so hard ....lol

**EDIT** Have 3 on the list so far...need a few more, trying to get a few people so i can see how it works on different brokers.

**EDIT 2** Have 5 people testing....Oh yea...it "should" pick up the change BEFORE the higher TF HA candles also! lol So dont worry if the higher TF HA candles do not match the Freebie Trend Arrow yet....:nerd: Just test and when you get the alert on EACH TICK that says "The Indicator Testing Period Has Expired...."...report your feed back...DO NOT PASS IT OUT! I am ONLY LOOKING TO TEST IT...

**EDIT 3 ** If you make the MILLION $$$ mark using it..I want my TRIP to VEGAS! LMAO
  • #4,595
  • Aug 15, 2011 2:19am Aug 15, 2011 2:19am
hey dred! would test it too, but i´m a little bit too late!! overslept the millions!
  • #4,596
  • Aug 15, 2011 2:21am Aug 15, 2011 2:21am
hey dred always down to test, lmk if it's not too late
  • #4,597
  • Aug 15, 2011 2:53am Aug 15, 2011 2:53am
Quoting Dredding82
I need some testers for my trend indicator...its kind of like the law girl indicator but it uses different indicators for the trend instead of the RSI so i have modified it to see trend WAY BETTER!!, It looks just like it but you can add both to a chart and see mine is way different...first 5-10 people that PM me and are already active in this thread i will send them a copy of it. Please include your EMAIL in the PM so i may send....Im just looking for feed back on how it is working out and if it helps you see the trend even easiser....
Hi Dred,
since i was the author of lawgirl trend indicator maybe can help you.
I'll send you a PM

gspe
  • #4,598
  • Aug 15, 2011 3:20am Aug 15, 2011 3:20am
first trade demo with this sys long at the green arrow Sl under the last low tp at the yellow line 1.0469 any comments are welcome if I have some thing wrong let me know
thanks
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  • #4,599
  • Aug 15, 2011 4:25am Aug 15, 2011 4:25am
http://www.youtube.com/watch?v=PHVeyo4W18U
  • #4,600
  • Aug 15, 2011 4:28am Aug 15, 2011 4:28am
Lets see how the Freebie Trend Arrows do.....Right now it just turned to red and down...but no signal yet since HA didnt close read and stoch is heading up
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