Price Action Trading with Indicators! The Freebie System | Page 283 | Forex Factory

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Price Action Trading with Indicators! The Freebie System

  • #5,641
  • Oct 13, 2011 5:24am Oct 13, 2011 5:24am
Took this trade a few minutes ago on EUR/USD. SL is 25 pips, TP set 9 pips above ADR. R/R 1:3.
Attached Image (click to enlarge)
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  • #5,642
  • Oct 13, 2011 6:54am Oct 13, 2011 6:54am
Just closed 50% of my trade, moved stop loss to break even. Risk free trade from here on out.
  • #5,643
  • Oct 13, 2011 6:56am Oct 13, 2011 6:56am
If at first you don't succeed lol. First trade failed -32 second more than made up for it +100. Had to leave it and go out after setting it to +1 came back and saw it was just about to take profit
Attached Image (click to enlarge)
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  • #5,644
  • Oct 13, 2011 7:04am Oct 13, 2011 7:04am
Quoting ohammond
If at first you don't succeed lol. First trade failed -32 second more than made up for it +100. Had to leave it and go out after setting it to +1 came back and saw it was just about to take profit
Can you show us where the first trade was taken at and then the second trade? I'm having trouble seeing through the chart.
  • #5,645
  • Oct 13, 2011 7:20am Oct 13, 2011 7:20am
Quoting mustangzs
Can you show us where the first trade was taken at and then the second trade? I'm having trouble seeing through the chart.
Sorry I don't know how to draw the lines in now as the trade is gone from the tradestation. The first trade was between 08:00 and 10:00 on the chart where the small red arrow is, along with the stop loss line above. The second trade was taken at the beginning of the 4th candle after the other one got stopped out.
  • #5,646
  • Oct 13, 2011 7:28am Oct 13, 2011 7:28am
Quoting ohammond
I have the 6 charts open at the same time and have an alert that tells me when the 15min changes colour as long as another HA is also the same colour and the stoch is in the right direction. I usually wait for the 30 minute to close the same colour as well, even if another HTF is showing correctly.
When you say "another HA is also the same colour" which one do you mean? Since you already mentioned the 15 and the 30, do you mean either the H1 or the H4? tx
  • #5,647
  • Oct 13, 2011 7:39am Oct 13, 2011 7:39am
Quoting mustangzs
Can you show us where the first trade was taken at and then the second trade? I'm having trouble seeing through the chart.
Okay, I see where you took the trades. Nice job not letting emotions keep you out of the next trade; which was obviously a winner for you.
  • #5,648
  • Oct 13, 2011 7:43am Oct 13, 2011 7:43am
Quoting mustangzs
Can you show us where the first trade was taken at and then the second trade? I'm having trouble seeing through the chart.
Did this image anyway so will probably make it easier to see where the has were etc.
Attached Image (click to enlarge)
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  • #5,649
  • Oct 13, 2011 7:44am Oct 13, 2011 7:44am
Quoting mustangzs
Okay, I see where you took the trades. Nice job not letting emotions keep you out of the next trade; which was obviously a winner for you.
Thats what I think people have the most trouble with, I know I did to start with, now I try to take every signal whether I've just been stopped out or not, because you never know which will be the winner.
  • #5,650
  • Oct 13, 2011 7:47am Oct 13, 2011 7:47am
Quoting ericjschroed
When you say "another HA is also the same colour" which one do you mean? Since you already mentioned the 15 and the 30, do you mean either the H1 or the H4? tx
Any of them really, I do prefer to wait for the 30 minute to close, but depending on candle patterns I might go in on the 15 along with the H4 matching or the H1. For instance with the charts I've just posted, the first one was taken when the 30min closed, the second was taken when the 15 closed and everything turned red, good bearish engulfing and momentum so went in.
  • #5,651
  • Oct 13, 2011 11:22am Oct 13, 2011 11:22am
Another 2 trades, the AU hadn't failed at the pivot but I saw divergence and the candle patterns looked bullish so I took a chance. + 40 on each.
Attached Image(s) (click to enlarge)
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  • #5,652
  • Oct 13, 2011 3:19pm Oct 13, 2011 3:19pm
Ohammond,

Even though you had all the red signals going for you and the stochastics were crossed down and took the trade, I didn't take that trade because the stochastics were sooooooofar down already. Look at the positive +100 pips trade. Stochastics were a lot higher in the over bought area and had just crossed down with lots and lots of room to run. I only picked up +88... LOL. I know never be unhappy with money in your pocket.

Pipsaway!
  • #5,653
  • Oct 13, 2011 4:12pm Oct 13, 2011 4:12pm
Quoting ejohnston5
Ohammond,

Even though you had all the red signals going for you and the stochastics were crossed down and took the trade, I didn't take that trade because the stochastics were sooooooofar down already. Look at the positive +100 pips trade. Stochastics were a lot higher in the over bought area and had just crossed down with lots and lots of room to run. I only picked up +88... LOL. I know never be unhappy with money in your pocket.

Pipsaway!
Congratulations on the trade.

Stochastics are a good thing to look at but I don't make it a fast rule, if I did I would have missed most of those pips yesterday including the one below, look where the stochastic was then.

What I should have taken notice of though with the losing trade today was the doji candle before I went in, which shows indecision and should probably have waited until it broke below it to go in.
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  • #5,654
  • Oct 13, 2011 4:28pm Oct 13, 2011 4:28pm
I think you're right. How ever you trade just be consistent, if you take all crosses, take all crosses, if you only take extreme high/low crossovers, always take those crossovers. Inconsistent trading produces inconsistent results. Have a plan, trade the plan.

Good call on the doji, I hadn't thought that far through it. A little more chart recognition of patterns and candles would have been beneficial and probably been more reason why I would have sat it out. Thanks for the heads up on that.

Pipsaway.
  • #5,655
  • Oct 14, 2011 2:01am Oct 14, 2011 2:01am
One of today's trades below on EU +41 also took the AU at the same time for +50
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  • #5,656
  • Oct 14, 2011 4:55am Oct 14, 2011 4:55am
Quoting ohammond
One of today's trades below on EU +41 also took the AU at the same time for +50
Congratulations on your trades.
  • #5,657
  • Oct 14, 2011 5:01am Oct 14, 2011 5:01am
Hope you all had a good week of trades. I'm heading out this weekend to get married....

See you all Monday morning! Make those pips for me today!!
  • #5,658
  • Oct 14, 2011 5:03am Oct 14, 2011 5:03am
All best from me .. I merried before 2 month
  • #5,659
  • Oct 14, 2011 5:07am Oct 14, 2011 5:07am
Quoting Jomadev
Awaited, or not, now is in your hands.

I recommend to read carefully the guide included, before using the EA in any way!
(Below you see a thumbnail of page 7 of the guide - 19 pages total)

Enjoy and let me know.

J.

Hi Jomadev,

wow - there's a lot to cover here.
Looks impressive - the guide is good too
I'm testing on demo - first with your standard settings on GMT +2 (Alpari UK)

lets see what happens.
  • #5,660
  • Oct 14, 2011 5:39am Oct 14, 2011 5:39am
Quoting mustangzs
Hope you all had a good week of trades. I'm heading out this weekend to get married....

See you all Monday morning! Make those pips for me today!!
Congratulations mustangzs, hope it all goes well.
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