Price Action Trading with Indicators! The Freebie System | Page 274 | Forex Factory

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Price Action Trading with Indicators! The Freebie System

  • #5,461
  • Sep 30, 2011 8:09am Sep 30, 2011 8:09am
Quoting DizzleFX
I knew better. Don't know what I was thinking.
Correct me, if I'm wrong, but SL and TP is good, when you have MT on your machine, as long as you have power on.
  • #5,462
  • Sep 30, 2011 8:14am Sep 30, 2011 8:14am
Quoting morris1
Correct me, if I'm wrong, but SL and TP is good, when you have MT on your machine, as long as you have power on.
No, as long as its not via a script, but on the trading station itself it still works ok.
  • #5,463
  • Sep 30, 2011 9:11am Sep 30, 2011 9:11am
usd/chf m15 and usd/jpy m15.. both hit TP (1:1) ;-)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdchfm15.gif Size: 26 KB
Click to Enlarge Name: usdjpym15.gif Size: 32 KB
  • #5,464
  • Sep 30, 2011 9:20am Sep 30, 2011 9:20am
Quoting AndreyBecker
usd/chf m15 and usd/jpy m15.. both hit TP (1:1) ;-)
Nice trading Andrey!
Damn The Torpedoes, Full Speed Ahead!
  • #5,465
  • Sep 30, 2011 11:09am Sep 30, 2011 11:09am
Well the week is pretty much over guys/gals.........hope everyone had a KILLER WEEK! I know i did! Everyone enjoy the weekend.


P.S. ..........LOVING MY TRADES still! lol
  • #5,466
  • Sep 30, 2011 12:36pm Sep 30, 2011 12:36pm
My tades for today. It has been much more setups but I have not time for take it and some trades closed earlyer on emotions (usdcad)

eurusd +37
gbpusd +28
audusd +19
usdcad +13
eurjpy -38 +19 +55

so total 115pips
Attached Images
  • #5,467
  • Sep 30, 2011 12:42pm Sep 30, 2011 12:42pm
Quoting ohammond
No, as long as its not via a script, but on the trading station itself it still works ok.
Thank you for enlightenment, learning something all the time.
  • #5,468
  • Sep 30, 2011 1:05pm Sep 30, 2011 1:05pm
trying to scale out trades - take half out at 1:1 R/R and letting it run to the pivot at daily range low or high.

AUD/USD - got out half at 1:1 R/R, moved stop to breakeven and stopped out.
EUR/USD- same scenario, except trade went to almost 1:3 R/R and closed.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: eurusd.gif Size: 18 KB
  • #5,469
  • Sep 30, 2011 3:42pm Sep 30, 2011 3:42pm
This week last trade at at ALL ..I do something around computer, hear HA sound and place trade..33pips at the end
Attached Image
  • #5,470
  • Sep 30, 2011 6:14pm Sep 30, 2011 6:14pm
Quoting Paulus
Nice wd

22% up on account still short EU

cheers

P
Question for Paulus...

The MTF HA indicator may repaint the hourly HA color as it progresses through the hour. It seems like the beginning of an hour is the trickiest. Do you do anything to filter the possibility of a color change, or do you just go with it?
  • #5,471
  • Sep 30, 2011 6:39pm Sep 30, 2011 6:39pm
Took the EU trade on the hourly chart on Thursday early afternoon. By the time I had to return to my family for the night I was up 80 pips. Brought my SL down to 3 pips above the closest pivot and let the trade run for the night. I was pleasantly suprised the next day to see I was up almost 190 pips by the time I got back to the terminal. Moved my stop down again to just above the pivot where eventually I was stopped out at 188 pips. The trade went as high as about 224 pips before it seemed to find some support but I couldn't watch the trade close enough so I let the SL take care of it.

Lets just say I continue to be wowed as to how simple this system is to follow.

At this point I plan to demo trade this system for another 2 weeks. Then I would like to try it live on a penny account until the December holidays roll around at which point I will take a break and go back to demo trading. If all goes as planned this system will be on my main live account just after the new year and I should be ready to roll.
  • #5,472
  • Oct 1, 2011 8:14am Oct 1, 2011 8:14am
Quoting Brapp
Question for Paulus...

The MTF HA indicator may repaint the hourly HA color as it progresses through the hour. It seems like the beginning of an hour is the trickiest. Do you do anything to filter the possibility of a color change, or do you just go with it?
I go with it..what ever colour it is when I get a potential signal

Hope that helps

P
  • #5,473
  • Oct 1, 2011 1:07pm Oct 1, 2011 1:07pm
A perfect signal as per my rules

15% gain on the account

very clear what is commonly known as 'a no brainer'

1 hour trend down
5min making LL and LH
Broke through L4 pivot
Came back up and L4 retested

New semafor is put in
HA turned red on fail
Entry
Risk 5% ( 1 pip above last semafor hi)
TP 15%

P
Attached Image (click to enlarge)
Click to Enlarge Name: d4.gif Size: 32 KB
  • #5,474
  • Oct 2, 2011 3:23am Oct 2, 2011 3:23am
Paulus, you forgot to tell that you enter on closed of marked candle..right?
  • #5,475
  • Oct 2, 2011 3:34am Oct 2, 2011 3:34am
Quoting kolesar007
Paulus, you forgot to tell that you enter on closed of marked candle..right?
Yes you are correct

I click on candle close then forget its out of my hands and as I dont reverse its either win 15% or lose 5% on this particular trade

Regards

P
  • #5,476
  • Oct 2, 2011 4:47am Oct 2, 2011 4:47am
Quoting Paulus
A perfect signal as per my rules

15% gain on the account

very clear what is commonly known as 'a no brainer'

1 hour trend down
5min making LL and LH
Broke through L4 pivot
Came back up and L4 retested

New semafor is put in
HA turned red on fail
Entry
Risk 5% ( 1 pip above last semafor hi)
TP 15%

P

Paulus, thanks for your time and effort here, its very much appreciated.

I traded your 'style' last week on the EU 5min, and enjoyed it.

I have a question regarding the pivots, I'm using a different broker to you and my broker time is GMT +1 , this has meant that my pivots are a little different to yours, please see chart attached. This meant a losing trade for me.

Would you just trade what you see on any particular broker or have you found an optimum broker for your method? I seem to remember you are in the UK like myself. thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: 30092011.gif Size: 91 KB
  • #5,477
  • Oct 2, 2011 6:33am Oct 2, 2011 6:33am
Quoting stricky1967
Paulus, thanks for your time and effort here, its very much appreciated.

I traded your 'style' last week on the EU 5min, and enjoyed it.

I have a question regarding the pivots, I'm using a different broker to you and my broker time is GMT +1 , this has meant that my pivots are a little different to yours, please see chart attached. This meant a losing trade for me.

Would you just trade what you see on any particular broker or have you found an optimum broker for your method? I seem to remember you are in the UK like myself. thanks.
I think you'll find that Dred has said a lot further back and many times that he didn't want conversations about pivots, you will win some and lose some using any pivots.
  • #5,478
  • Oct 2, 2011 7:38am Oct 2, 2011 7:38am
Quoting stricky1967
Paulus, thanks for your time and effort here, its very much appreciated.

I traded your 'style' last week on the EU 5min, and enjoyed it.

I have a question regarding the pivots, I'm using a different broker to you and my broker time is GMT +1 , this has meant that my pivots are a little different to yours, please see chart attached. This meant a losing trade for me.

Would you just trade what you see on any particular broker or have you found an optimum broker for your method? I seem to remember you are in the UK like myself. thanks.
Just trade what you see ..it really doesnt matter...your 1st short would not qualify for me as no seamphor above..

Cheers

P
  • #5,479
  • Oct 2, 2011 7:48am Oct 2, 2011 7:48am
Quoting Paulus
Just trade what you see ..it really doesnt matter...your 1st short would not qualify for me as no seamphor above..

Cheers

P
Ok , thanks, thought as much.

Did you mean 2nd short, trade 2, had no semaphore? If so it did have one before price moved up and it repainted higher a few mins later.
  • #5,480
  • Oct 2, 2011 8:53am Oct 2, 2011 8:53am
Quoting stricky1967
Ok , thanks, thought as much.

Did you mean 2nd short, trade 2, had no semaphore? If so it did have one before price moved up and it repainted higher a few mins later.
ok that happens .. in that case it was valid

cheers

P
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