Price Action Trading with Indicators! The Freebie System | Page 289 | Forex Factory

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Price Action Trading with Indicators! The Freebie System

  • #5,761
  • Oct 24, 2011 10:41am Oct 24, 2011 10:41am
A couple of trades that I am still in. The EURUSD and USDCHF, I have already hit 1:1 on both of them and have over a 100 pips combined. Closed out half my lots and moved my SL to break even. Im gonna let them run until the race is over.

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Damn The Torpedoes, Full Speed Ahead!
  • #5,762
  • Oct 24, 2011 11:06am Oct 24, 2011 11:06am
My trades. Ucad entry bit too early (no pivot rejection).
Total 90pips win.
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  • #5,763
  • Oct 24, 2011 11:07am Oct 24, 2011 11:07am
Closed out my trades, done for the day. Close to 130 pips in the bag...lovin' these Benjamins.

**I noticed in the chat this morning that everyone was looking for shorts on the EUR/USD. I'm sorry I didn't give in my input. I was actually afraid of looking like an idiot since it looked like everyone was looking for a short and I was the only one looking for a long; that is why I was in chat for a grand total of 2-3 minutes before leaving without saying a thing. I wish I at least spoke up.**

I longed the EUR/USD for a few reasons:
1) Stochastics crossed up, fail at pivot, hiekin ashi, etc..etc..
2) Stochastics being one of my favorite technical indicators has multiple purposes. It can represent overbought and oversold areas, entries and exits, swing high and swing low points....but my favorite part of stochastics which has rarely...if ever...let me down....DIVERGENCE!!! I drew positive divergence on my stochastics chart this morning.

3) Fundamentals....yes, fundamentals. I hate trading solely off of technical indicators. I've always traded with the belief that FUNDAMENTALS sets the long term trend, TECHNICAL'S tell you when to enter and exit. Dow futures were climbing upwards this morning. For those of you who trade stocks or trade in the US, Caterpillar reported earnings this morning, which were positive; also a heavy weight in the DOW (At least that's what bloomberg was saying this morning). There's a fundamental trend that most people should have noticed by now or do notice and that is USUALLY...DOW UP, DOLLAR DOWN.

Here's my charts. I'm sorry this was so long. I really doubted myself this morning when everyone was talking about shorts and I was looking for a long entry. Really caused me to have to battle my emotions this morning.
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  • #5,764
  • Edited 12:38pm Oct 24, 2011 11:17am | Edited 12:38pm
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Quoting mustangzs
Closed out my trades, done for the day. Close to 130 pips in the bag...lovin' these Benjamins.

**I noticed in the chat this morning that everyone was looking for shorts on the EUR/USD. I'm sorry I didn't give in my input. I was actually afraid of looking like an idiot since it looked like everyone was looking for a short and I was the only one looking for a long; that is why I was in chat for a grand total of 2-3 minutes before leaving without saying a thing. I wish I at least spoke up.**

I longed the EUR/USD for a few reasons:
1)...
Great Trading! Good use of TA & FA, Looks like you are on the road to become a GREAT Trader...not just a good trader.

Not everyone was talking about shorting...I did take a counter trend short trade on EurUsd and banked some nice pips on it. But if you go in to the chat logs you will see i told everyone a reversal would happen soon in between a certain level...and now........BANKING! 300+ pips at the moment
  • #5,765
  • Oct 24, 2011 11:18am Oct 24, 2011 11:18am
Quoting magnepan
My trades. Ucad entry bit too early (no pivot rejection).
Total 90pips win.

KILLER TRADING!
  • #5,766
  • Oct 24, 2011 11:19am Oct 24, 2011 11:19am
Quoting DizzleFX
A couple of trades that I am still in. The EURUSD and USDCHF, I have already hit 1:1 on both of them and have over a 100 pips combined. Closed out half my lots and moved my SL to break even. Im gonna let them run until the race is over.

Attachment
Attachment

Nice Trades!

I am in both myself and have close a % of my lots and also locked in profit myself!
  • #5,767
  • Oct 24, 2011 11:20am Oct 24, 2011 11:20am
Quoting Checkz
I just enter this trade off the 15 minute. I hope it goes in my favor.


You need to check you higher TF trends and make sure you have enough room for a ok pullback if you want to counter trend trade and make profit on those types of trades.
  • #5,768
  • Oct 24, 2011 11:23am Oct 24, 2011 11:23am
Quoting dojirock
how i see e/u..for a short coming...but need dredds sys confirmation...

I myself took a M15 short from almost the high since i was looking for a pullback on the H1 for the H4 uptrend.
  • #5,769
  • Oct 24, 2011 11:24am Oct 24, 2011 11:24am
Quoting jukiol
This is an interesting thread, I read it from the beginning. I am testing the strategy on demo now.

I have question about the exit: "use daily range/pivots to max profits".

How is this done exactly? If the daily range is 100pips as an example - is my tp in 100pips? Or do I choose the pivotline that is next to the dailyrange? Is this dependent on the timeframe? Or do I use the same range in M15 as in H4?

I think entry is clearly displayed in the thread, but I think it is nice if somebody could emphasize on the exit.
You need to make sure you have aleast a 1:1 R:R before you enter the trade. you use the ADR as the MAX a pair might go for the day. To use it with pivots, since they are a form of S&R...you just find a pivot near the ADR level and that would be "use daily range/pivots to max profits". But you do need to think about your MM....
  • #5,770
  • Oct 24, 2011 11:26am Oct 24, 2011 11:26am
Quoting tritan
Can someone tell me, is it 10 people maximum in the chatroom? Tried to get in earlier and couldn't due to a restriction but was trying on my iphone so not sure if that was what was causing the problems.

Hope everyone is getting green pips
Yes 10 was the max...but it has been upgraded so more then 10 can come in the chat room at once now.

Everyone can send their thanks to Noel...he upgraded the room.
  • #5,771
  • Oct 24, 2011 11:28am Oct 24, 2011 11:28am
Lovin this thread....2nd day live... here are the trades today..am I done?
nope...just takin lunch!
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  • #5,772
  • Oct 24, 2011 1:44pm Oct 24, 2011 1:44pm
Quoting Dredding82
Yes 10 was the max...but it has been upgraded so more then 10 can come in the chat room at once now.

Everyone can send their thanks to Noel...he upgraded the room.
Cool. Just been in and had a looksy.... and a good chuckle at all the kick outs lol

Cheers for upgrading Noel
  • #5,773
  • Edited 5:02pm Oct 24, 2011 1:47pm | Edited 5:02pm
we consider only the EURUSD...

3 nice signals on M15-chart. As I can see all rules are met. Please correct me if I'm wrong.

I hope this helps you. It helps me.

cheers
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  • #5,774
  • Oct 24, 2011 4:53pm Oct 24, 2011 4:53pm
Quoting mustangzs
Closed out my trades, done for the day. Close to 130 pips in the bag...lovin' these Benjamins.

**I noticed in the chat this morning that everyone was looking for shorts on the EUR/USD. I'm sorry I didn't give in my input. I was actually afraid of looking like an idiot since it looked like everyone was looking for a short and I was the only one looking for a long; that is why I was in chat for a grand total of 2-3 minutes before leaving without saying a thing. I wish I at least spoke up.**

I longed the EUR/USD for a few reasons:
1) Stochastics...
I consider both long and short, if its a good signal I take it
  • #5,775
  • Oct 24, 2011 6:08pm Oct 24, 2011 6:08pm
Quoting Dredding82
You need to check you higher TF trends and make sure you have enough room for a ok pullback if you want to counter trend trade and make profit on those types of trades.
Thanks and I will.
  • #5,776
  • Oct 24, 2011 11:17pm Oct 24, 2011 11:17pm
Here are my yesterday trades that I took instead of previus mention eurusd, usdchf and gbpusd.
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  • #5,777
  • Oct 25, 2011 12:33am Oct 25, 2011 12:33am
If you use the trendgirl indicator, which timeframes do you pay attention to? The same as the one you are trading in? The timeframe above? Or all displayed? (which means there is rarely a trade?)
  • #5,778
  • Oct 25, 2011 1:37am Oct 25, 2011 1:37am
I look at H1, H4 and D1. If others agree it is much better . I have this just for confirmation of HA bars.
  • #5,779
  • Oct 25, 2011 6:31am Oct 25, 2011 6:31am
My trades today in range market. I know that I must wait to go out but I demo so I try . On all trades I take same profit and move SL to BE.
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  • #5,780
  • Oct 25, 2011 7:00am Oct 25, 2011 7:00am
Anybody in on EURCAD? I went in @ MS1 and bailed @ S1. Cheers.
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