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Price Action Trading with Indicators! The Freebie System

  • #5,521
  • Edited 5:28am Oct 5, 2011 5:04am | Edited 5:28am
Today
UsdCad -30 enter again on second line 15 pip so far
NzdUsd -34
Attached Images
  • #5,522
  • Oct 5, 2011 5:22am Oct 5, 2011 5:22am
Quoting kolesar007
Today
UsdCad -30
NzdUsd -34
Got any charts?
  • #5,523
  • Oct 5, 2011 5:32am Oct 5, 2011 5:32am
..uploaded
  • #5,524
  • Oct 5, 2011 5:37am Oct 5, 2011 5:37am
Quoting kolesar007
Today
UsdCad -30 enter again on second line 15 pip so far
NzdUsd -34

On the first UsdCad trade i do not see a fail at a pivot so i would have not took it because of that. The second on i took because i had a fail at the pivot point and i am still currently in the trade but only up a few pips at the moment.

For the other trade..."Shit Happens" lol

Like most traders you should wait for that pairs markets to open to trade the pair...or if that pair goes not really have a time for both markets use the major markets (London & US) and only take trades between the times that those markets are open. Yes you will miss some trades due to the limited hours but you will also WIN alot more because there is VOLUME in the markets at those times.
  • #5,525
  • Oct 5, 2011 5:43am Oct 5, 2011 5:43am
Quoting kolesar007
Today
UsdCad -30 enter again on second line 15 pip so far
NzdUsd -34
Also you need to adjust your pivots sometimes. For me i am using standard pivots for NzdUsd today because the first fail at a pivot was on a STANDARD pivot mid level...which leads me to think that the standard pivots are being used more for S&R levels then other pivots today.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: nzd1.jpg Size: 114 KB
  • #5,526
  • Oct 5, 2011 5:59am Oct 5, 2011 5:59am
Quoting Dredding82
On the first UsdCad trade i do not see a fail at a pivot
Middle pivot is gray dotted line.. but price did not reach it so its not valid failed?

Finaly UsdCad +33pip
  • #5,527
  • Oct 5, 2011 5:59am Oct 5, 2011 5:59am
Here are 3 trades i am in right now....had a few losers so just making back my loss right now.."Shit Happens!" I already made my 10% goal for the week! Of course most of you know i risk far less then most do...a MAX of 5% with all open orders. I got in one of the trades alittle late but i felt it was a good trade still so i pulled the trigger. Oh and the indcator at the bottom of my charts in nothing new...its just a MTF HA indicator that shows the H4 HA! so dont Pm me or post asking for it...its already on the thread.
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Click to Enlarge Name: cad.jpg Size: 125 KB
Click to Enlarge Name: chf.jpg Size: 119 KB
Click to Enlarge Name: euro.jpg Size: 116 KB
  • #5,528
  • Oct 5, 2011 5:59am Oct 5, 2011 5:59am
To me it looks like the Trend Direction is changing and I'm staying out until after all the big USD announcements.

To me it looks like the following currencies are changing to:
EURUSD - LONG
GBPUSD - LONG (still waiting for trend cross)
USDCHF - SHORT (still weak)
AUDUSD - LONG
NZDUSD - LONG

but playing it safe with my real money, waiting and maybe looking for entry after the USD ISM announcement.
  • #5,529
  • Oct 5, 2011 6:00am Oct 5, 2011 6:00am
My son woke up late last night not feeling well. Ended up oversleeping this morning. Look at all those good setups I missed. I hope you all left some pips for me!!!
  • #5,530
  • Oct 5, 2011 6:01am Oct 5, 2011 6:01am
Quoting kolesar007
Middle pivot is gray dotted line.. but price did not reach it so its not valid failed?

Finaly UsdCad +33pip

Read post #1..........."Failed At Pivot"......

It does not say came kinda sorta almost some what close to the pivot.....lol


If you read the thread you will see i say if you want to count something like that i limit the distance between 5-10 pips within the pivot, but that is more risky since it did not fail (touch) at the pivot.
  • #5,531
  • Oct 5, 2011 6:13am Oct 5, 2011 6:13am
Quoting Dredding82
Here are 3 trades i am in right now....had a few losers so just making back my loss right now.."Shit Happens!"

Nice to see you're still human and it happens to the best of us
  • #5,532
  • Oct 5, 2011 6:14am Oct 5, 2011 6:14am
Quoting mustangzs
My son woke up late last night not feeling well. Ended up oversleeping this morning. Look at all those good setups I missed. I hope you all left some pips for me!!!

Take care of your son ....the markets will always be here...its a NFP week anyways so its gonna be UP & Down or DOWN & Up kinda week.
  • #5,533
  • Oct 5, 2011 6:17am Oct 5, 2011 6:17am
Quoting tritan
Nice to see you're still human and it happens to the best of us

Yups i have losers! but i either have a better risk:reward or winning rate that always makes me my loss back. I think it was a week ago when i was sick i posted on another thread for that weeks return i made...90% winners on shorts and i think it was 60% winners on longs, another week i had like a 46% hit rate on both short and long but my risk:reward took care of any losers......click my name and you can find it in the attachments i have posted.
  • #5,534
  • Oct 5, 2011 6:21am Oct 5, 2011 6:21am
Quoting Dredding82
Yups i have losers! but i either have a better risk:reward or winning rate that always makes me my loss back. I think it was a week ago when i was sick i posted on another thread for that weeks return i made...90% winners on shorts and i think it was 60% winners on longs, another week i had like a 46% hit rate on both short and long but my risk:reward took care of any losers......click my name and you can find it in the attachments i have posted.
Will do. I think its a good thing for the rest of us that you have losers as it shows everyone that nothing is 100% and pushes them to deal with the fact that they have to learn to lose sometimes as well. Its all part of trading.
  • #5,535
  • Oct 5, 2011 6:35am Oct 5, 2011 6:35am
Hi,

I have opened a Skype room for anyone here trading Dreddings Freebie system.
I certainly do not profess to be any sort of expert on trading this method, I have had some very good trades and a few losing ones but together hopefully together we can all improve helping each other.
I think that it would be best if we all communicated in the room using text rather that chat, that way a record of the days activities in the room will be available for reference.
If you are interested in joining the room please pm me with your Skype I D.

Noel.
  • #5,536
  • Oct 5, 2011 6:35am Oct 5, 2011 6:35am
Quoting mustangzs
Profit hit on EUR/USD trade. Thought it was going to get away from me for a little bit but Bernanke moved it in the direction the trade supported. Red vertical line was my entry. At the time I entered the trade, MTF HA indicator H1 and H4 were both green. Indicator repainted midway through the trade. R/R was a little shy of 1:1. I got in late from where I should have entered. Got in almost 10-15 pips from the trigger. I need to work on taking profits off the table and letting a trade ride risk free like Dredding says. I've been an all or nothing...

Finding "risk free" trades and letting them run to MAX your gains will come with time....just dont try and rush to get there.
  • #5,537
  • Oct 5, 2011 6:38am Oct 5, 2011 6:38am
Yes I know that was risky trade but I took them anyway.

Im still in eurjpy, audusd, gbpusd, eurusd, usdcad
  • #5,538
  • Oct 5, 2011 7:03am Oct 5, 2011 7:03am
Quoting Noel
Hi,

I have opened a Skype room for anyone here trading Dreddings Freebie system.
I certainly do not profess to be any sort of expert on trading this method, I have had some very good trades and a few losing ones but together hopefully together we can all improve helping each other.
I think that it would be best if we all communicated in the room using text rather that chat, that way a record of the days activities in the room will be available for reference.
If you are interested in joining the room please pm me with your Skype I D.

Noel.
Nice one Noel. If I wasn't still 'working for the man' then i'd definitely join. Planning a wee break from work next year once i've pulled some cash together for trading so if the room is still open i'll pop along.

  • #5,539
  • Oct 5, 2011 7:05am Oct 5, 2011 7:05am
i know i am going to sound like a complete newbie but i really really could do with some visual aid on this question if anyone out there is willing to help

what is fail at pivot?

a few examples would really benefit me as everything else has fallen into place of my understanding

thanks
  • #5,540
  • Oct 5, 2011 7:24am Oct 5, 2011 7:24am
Quoting hope&glory
i know i am going to sound like a complete newbie but i really really could do with some visual aid on this question if anyone out there is willing to help

what is fail at pivot?

a few examples would really benefit me as everything else has fallen into place of my understanding

thanks
If you look at Dred's charts there are plenty of examples. Look how price goes to the pivot and gets rejected? Thats a fail of the pivot, but as far as examples go Dred has given plenty of them.
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