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Price Action Trading with Indicators! The Freebie System

  • #4,681
  • Aug 18, 2011 11:50pm Aug 18, 2011 11:50pm
Quoting Dredding82
Yuppers...but guess what? 1:1 WAS HIT...so i closed out 1/2 my lots.....so doesnt hurt when its a free trade......

BTW...DAMN LOVING GOLD! 7,900+ PIPS now lol, well on just that one trade

WTG Dred ... Heck, that one trade would have covered the entire year goal for me almost twice over.
  • #4,682
  • Aug 19, 2011 12:43am Aug 19, 2011 12:43am
Quoting prof8t
WTG Dred ... Heck, that one trade would have covered the entire year goal for me almost twice over.
Thanks everyone for the cudos on the gold trade but it really was not hard..The INIDCATORS did all the work, i just did what they told me to do lol.

And this song is for all the haters past and present...........GET OVER IT! Its the SIMPLE TRUTH lol

http://www.youtube.com/watch?v=hNq8RhcE90Y
  • #4,683
  • Aug 19, 2011 1:14am Aug 19, 2011 1:14am
Ok... I have to admit that I cheated today...

I entered the market short at a position just off the chart with the intention of riding the slow downtrend into the US session. But watching the other world markets and their decline in the meantime, along with a report about a US stock sell-off occurring, left me with only one smart move and that was to hold onto the short going into the US session. As you can see not only did the market slide downward slowly heading into the US market, but the first three bars of the US market (gray box) tell the story.

First trade was worth +500 pips.

Of course at this point I'm not going to trade counter as the news was way terrible, so my second entry was due to the candle pattern. That second trade was good for +100 pips.

The last blue line is one I'm currently in. My plan is to ride it once again into the US market, as the news is worse and I'm expecting another bad day for the DOW.

Total for Thursday... +600 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: dow.gif Size: 19 KB
  • #4,684
  • Aug 19, 2011 4:07am Aug 19, 2011 4:07am
Bad day took only 2 trades both GBP/USD both losses. -10% ROC.

Here is one of the trades. Looked like a pretty good trade to me what you guys think?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd aug 18.gif Size: 34 KB
  • #4,685
  • Aug 19, 2011 4:55am Aug 19, 2011 4:55am
Quoting jibjib210
Bad day took only 2 trades both GBP/USD both losses. -10% ROC.

Here is one of the trades. Looked like a pretty good trade to me what you guys think?
Ive been thinking should I trade against the yellow dot or not as that red arrow in your picture, but havent had time to analyse it further. You cant backtest it properly because the dots repaint.
  • #4,686
  • Aug 19, 2011 5:04am Aug 19, 2011 5:04am
Quoting jibjib210
Bad day took only 2 trades both GBP/USD both losses. -10% ROC.

Here is one of the trades. Looked like a pretty good trade to me what you guys think?
If I'm looking in the right place, at the time you took the trade my heiken ashi was red on the 5min chart and hadn't closed green for quite a few candles, not only that but by that time the 15min had also closed red.
  • #4,687
  • Aug 19, 2011 5:54am Aug 19, 2011 5:54am
Quoting prof8t
Ok... I have to admit that I cheated today...

I entered the market short at a position just off the chart with the intention of riding the slow downtrend into the US session. But watching the other world markets and their decline in the meantime, along with a report about a US stock sell-off occurring, left me with only one smart move and that was to hold onto the short going into the US session. As you can see not only did the market slide downward slowly heading into the US market, but the first three bars of the US market (gray box) tell the...
explain the last 3 posts before this please...............

atleast now you get the intraday trading...along with the few others lol
  • #4,688
  • Aug 19, 2011 5:55am Aug 19, 2011 5:55am
Quoting prof8t
Ok... I have to admit that I cheated today...

I entered the market short at a position just off the chart with the intention of riding the slow downtrend into the US session. But watching the other world markets and their decline in the meantime, along with a report about a US stock sell-off occurring, left me with only one smart move and that was to hold onto the short going into the US session. As you can see not only did the market slide downward slowly heading into the US market, but the first three bars of the US market (gray box) tell the...
BTW...how is your OUR FA working out? its nice to know the truth about the number aint is lol
  • #4,689
  • Aug 19, 2011 6:21am Aug 19, 2011 6:21am
Quoting prof8t
Ok... I have to admit that I cheated today...

I entered the market short at a position just off the chart with the intention of riding the slow downtrend into the US session. But watching the other world markets and their decline in the meantime, along with a report about a US stock sell-off occurring, left me with only one smart move and that was to hold onto the short going into the US session. As you can see not only did the market slide downward slowly heading into the US market, but the first three bars of the US market (gray box) tell...

Hello to everyone!

I am following that thread for a long time and this my first post and i would like to say that is a great system! thank you Dred!

Seconed thing is that I will be very happy if you prof8t share with us the 4TF-HAS indicator because I try to find it and not succssed.
what do say?
  • #4,690
  • Aug 19, 2011 6:29am Aug 19, 2011 6:29am
Quoting Dredding82
explain the last 3 posts before this please...............

atleast now you get the intraday trading...along with the few others lol

LOL... The cheating only occurred on this particular day as I listened very carefully to the pre-market report before deciding to get out prematurely. That was my little cheat.

But what the heck... sometimes it pays to listen to the market news...

Oh but wait... using fundies to your advantage really isn't cheating now is it? LOL...
  • #4,691
  • Aug 19, 2011 6:34am Aug 19, 2011 6:34am
Quoting Dredding82
BTW...how is your OUR FA working out? its nice to know the truth about the number aint is lol
LOL... I am assuming you are referring to fundamental analysis. Well, it worked out beautifully yesterday by keeping me in the trade longer than I had planned. I am expecting much of the same in today's session, so I'm looking forward to a possible drop at US market open.
  • #4,692
  • Aug 19, 2011 6:56am Aug 19, 2011 6:56am
Quoting Taki
Hello to everyone!

I am following that thread for a long time and this my first post and i would like to say that is a great system! thank you Dred!

Seconed thing is that I will be very happy if you prof8t share with us the 4TF-HAS indicator because I try to find it and not succssed.
what do say?
Look in the paper clip at the top of the thread its called #mtf_heiken_ashi.mq4
  • #4,693
  • Aug 19, 2011 7:05am Aug 19, 2011 7:05am
Quoting jpdwilson
These are my questions Paulus.
I had the same problem as you just using Paulus' method on this. I've tried lots of variations on it but the only way I've made it work on the 5min is by taking the higher timeframes into account. And with an exceptional start to the NY session I have buys in on EU, GU, AU and EJ
  • #4,694
  • Aug 19, 2011 7:06am Aug 19, 2011 7:06am
Quoting ohammond
Look in the paper clip at the top of the thread its called #mtf_heiken_ashi.mq4
"#mtf_heiken_ashi.mq4" only has 3 TFs.

For the 4TF-HAS you will need "Rads MTF HAS Bar A.mq4" and "Heiken_Ashi_Smoothed.mq4" and then set MAPeriod/MAPeriod2 = 1
  • #4,695
  • Aug 19, 2011 7:12am Aug 19, 2011 7:12am
Quoting timo
"#mtf_heiken_ashi.mq4" only has 3 TFs.

For the 4TF-HAS you will need "Rads MTF HAS Bar A.mq4" and "Heiken_Ashi_Smoothed.mq4" and then set MAPeriod/MAPeriod2 = 1
Apologies then, but thats the one I have on mine and it has 4 time frames.
  • #4,696
  • Aug 19, 2011 7:16am Aug 19, 2011 7:16am
Quoting Whistlepips
Yo Dave. About 70 pips from the bottom. Nasty lookin zzdot on the down side on about 1,4270 on H1 and even on H4. Dont think it will pass that one?
Yeah, just got a bit of a spike below it.

But then H1 made it though the rally, and like I told you yesterday, H4 was next to rally. So did you go long yet on H4, using H1 for entry? Or even using M30 with a BOLOSO long.

I finally installed an ADR indicator that draws LINES on the price window for where the ADR high and low are. Now I have NO EXCUSE for not taking them into account. LOL

I put on both 7 and 14 period.

DrDave
To free Gazans of Hamas, use whatever it takes.
  • #4,697
  • Aug 19, 2011 7:40am Aug 19, 2011 7:40am
Quoting ohammond
Look in the paper clip at the top of the thread its called #mtf_heiken_ashi.mq4
Thanks for the help, but the #mtf_heiken_ashi.mq4 display only 3 time frames and the 4TF-HAS display 4 time frames. I google it very hard and still no succsses.
  • #4,698
  • Aug 19, 2011 10:44am Aug 19, 2011 10:44am
Good job guys! And for newbies here: this system works very well =) i had this week only 1 BE-day, the other 4 days i mad +10%. =)) itīs nice too see how my account grows =)

Cheers
  • #4,699
  • Aug 19, 2011 1:44pm Aug 19, 2011 1:44pm
Quoting Whistlepips
Ive been thinking should I trade against the yellow dot or not as that red arrow in your picture, but havent had time to analyse it further. You cant backtest it properly because the dots repaint.
Yea you cannot back test though I have yet to see a higher high and lower low without the yellow dot. Maybe I just haven't been playing long enough yet but, I had 2 trades very similar to this with the yellow dot and I traded against it and it worked in my favour.

The trend in M5 seemed upwards though when I looked in higher TF the trend was going down therefore I only set my my R&R 1:1.
  • #4,700
  • Aug 19, 2011 1:48pm Aug 19, 2011 1:48pm
Quoting ohammond
If I'm looking in the right place, at the time you took the trade my heiken ashi was red on the 5min chart and hadn't closed green for quite a few candles, not only that but by that time the 15min had also closed red.
We probley have different time zones? I matched my time zone to London time to match Paulus' charts.

I took the trade when the heiken ashi closed green.
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