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Price Action Trading with Indicators! The Freebie System

  • #5,181
  • Sep 12, 2011 10:53am Sep 12, 2011 10:53am
Entry on close of marked candle.
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  • #5,182
  • Sep 12, 2011 11:02am Sep 12, 2011 11:02am
Is it a valid fibo pivot rejection? (i know it is countertrend to H1 )
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  • #5,183
  • Sep 12, 2011 11:06am Sep 12, 2011 11:06am
Something I wanted to ask you Dred if you don't mind. Do you ever consider adding to winning positions if you get a fresh signal. For instance, on that big EU trade you had, after a retrace while the original trade is in there, would you add to it, or are you just happy with the pips you have from the original?
  • #5,184
  • Sep 12, 2011 11:14am Sep 12, 2011 11:14am
Quoting ohammond
Something I wanted to ask you Dred if you don't mind. Do you ever consider adding to winning positions if you get a fresh signal. For instance, on that big EU trade you had, after a retrace while the original trade is in there, would you add to it, or are you just happy with the pips you have from the original?
Of course i do...If it is a valid signal. Why do you think i keep saying risking 5% per trade is crazy to me...if i did that then i could only make 1 or 2 trades at a time...if i risk 1% per trade or less and my max capital i want to risk is 5% i can have 5+ trades open at once instead of just 1-2 trades. I almost never do it while trading the M15 but on the H1 and above i do it all the time!
  • #5,185
  • Sep 12, 2011 11:19am Sep 12, 2011 11:19am
Quoting Dredding82
Of course i do...If it is a valid signal. Why do you think i keep saying risking 5% per trade is crazy to me...if i did that then i could only make 1 or 2 trades at a time...if i risk 1% per trade and my max capital i want to risk is 5% i can have 5 trades open at once instead of just 1 trade. I almost never do it while trading the M15 but on the H1 and above i do it all the time!
Ok thanks, I thought you probably did, but just wanted to be sure.
  • #5,186
  • Sep 12, 2011 11:34am Sep 12, 2011 11:34am
Quoting magnepan
Is it a valid fibo pivot rejection? (i know it is countertrend to H1 )

Look at your last picture then ask yourself just one(1) question.....Where is the pivot? Then i think you will see the answer.
  • #5,187
  • Sep 12, 2011 11:40am Sep 12, 2011 11:40am
Quoting Dredding82
Look at your last picture then ask yourself just one(1) question.....Where is the pivot? Then i think you will see the answer.
Price is dancing on pivot level for one hour or more (4-5 candles). So it is not valid rejection.
  • #5,188
  • Sep 12, 2011 11:46am Sep 12, 2011 11:46am
Quoting ohammond
Ok thanks, I thought you probably did, but just wanted to be sure.

Just remember when you do you do such and you do have a winner you want to risk less then your first position so that if the trend runs out you are not risking the profits that would have been made by the first position. So lets say you risk 1% per trade. You have a winning trade on EurUsd and see there is another setup ....when you take it you would cut your % down to lets say .5% or even .25%. You could keep risking 1% if that fits your trading style but seems kind of foolish to risk gains because of greed. Of course that is just my 2 cents lol.
  • #5,189
  • Sep 12, 2011 11:54am Sep 12, 2011 11:54am
Quoting DizzleFX
SL 29 already at 1:1
Attachment

Nice trade! Looks like it went for about a 1:3 then retraced back up..........
  • #5,190
  • Sep 12, 2011 12:07pm Sep 12, 2011 12:07pm
Quoting Dredding82
Just remember when you do you do such and you do have a winner you want to risk less then your first position so that if the trend runs out you are not risking the profits that would have been made by the first position. So lets say you risk 1% per trade. You have a winning trade on EurUsd and see there is another setup ....when you take it you would cut your % down to lets say .5% or even .25%. You could keep risking 1% if that fits your trading style but seems kind of foolish to risk gains because of greed. Of course that is just my 2 cents lol....
Thanks Dred, will bear that in mind
  • #5,191
  • Sep 12, 2011 12:43pm Sep 12, 2011 12:43pm
Quoting Dredding82
Nice trade! Looks like it went for about a 1:3 then retraced back up..........
I only got 1:1 after moving my SL to BE and closing half my lots. Was a risk free trade though. I took one on the EU at the same time and a little whipsaw action hit my stop thenmn headed south. It happens!
Damn The Torpedoes, Full Speed Ahead!
  • #5,192
  • Sep 12, 2011 1:08pm Sep 12, 2011 1:08pm
Here are 2 trades taken alittle bit ago ...sitting on around 80 pips of profit right now from both trades, already moved my SL on the UsdChf trade to reduce my risk alittle still waiting to move my SL on the EurUsd trade..... next setup please.....lol

**EDIT** The indicator in the stoch window is the same indicator i have been working on and testing i just added colors to it because i know someone down the line when i let it out will ask for it ...lol and you guys know how i LOVE my pretty colors and repainting indicators!
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Click to Enlarge Name: chf.jpg Size: 112 KB
Click to Enlarge Name: euro.jpg Size: 109 KB
  • #5,193
  • Sep 12, 2011 8:46pm Sep 12, 2011 8:46pm
Took this one a little while ago. Almost at 1:1. SL 27 pips......

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Click to Enlarge Name: nzdusd0912.gif Size: 40 KB
Damn The Torpedoes, Full Speed Ahead!
  • #5,194
  • Sep 12, 2011 9:18pm Sep 12, 2011 9:18pm
countertrend but i think i pulled the trigger to early just looking for a couple pips
is it a good setup?
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Click to Enlarge Name: possible setup.gif Size: 26 KB
  • #5,195
  • Sep 13, 2011 12:08am Sep 13, 2011 12:08am
Closed the trade for a small profit, not quite 1:1. Time for bed!
Damn The Torpedoes, Full Speed Ahead!
  • #5,196
  • Sep 13, 2011 12:23am Sep 13, 2011 12:23am
Is it OK to enter long on close of marked candle? Brown horisontal line is Fib S1 level.
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  • #5,197
  • Sep 13, 2011 2:15am Sep 13, 2011 2:15am
Quoting magnepan
Is it OK to enter long on close of marked candle? Brown horisontal line is Fib S1 level.
Its been about 2 hours since you posted...So how do you like them pips? lol
  • #5,198
  • Sep 13, 2011 2:16am Sep 13, 2011 2:16am
Just took both a few candles ago..........Looking so so pretty to me!

OPPS! better turn my EA on....lol
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audusd.jpg Size: 108 KB
Click to Enlarge Name: euro.jpg Size: 112 KB
  • #5,199
  • Sep 13, 2011 2:37am Sep 13, 2011 2:37am
I am curious. You entry was good, but I was wondering what do you see that keep you from entering at point A.

Thanks.
Quoting Dredding82
Just took both a few candles ago..........Looking so so pretty to me!

OPPS! better turn my EA on....lol
Attached Image (click to enlarge)
Click to Enlarge Name: euro.jpg Size: 194 KB
  • #5,200
  • Sep 13, 2011 2:56am Sep 13, 2011 2:56am
Quoting fxtrain
I am curious. You entry was good, but I was wondering what do you see that keep you from entering at point A.

Thanks.

Look at my TREND indicator...at the time it was saying longs only........The line changes just as the arrow does..i have the line so i could make sure the arrows change right lol.
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