Price Action Trading with Indicators! The Freebie System | Page 292 | Forex Factory

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Price Action Trading with Indicators! The Freebie System

  • #5,821
  • Oct 27, 2011 6:42am Oct 27, 2011 6:42am
Went short on the NU trade last night and noticed while looking on iphone that I got stopped out Oh well, you win some you lose some.
  • #5,822
  • Oct 27, 2011 8:40am Oct 27, 2011 8:40am
I have made 3 trades this morning, please help me determine where I did wrong, as at the time of the trade, the ZZ semafor is following the rules.

GBPJPY: +5.8 pips
EURJPY: -27 pips
EURGBP: -9.7 pips
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  • #5,823
  • Oct 27, 2011 9:05am Oct 27, 2011 9:05am
GU was pretty choppy first thing so stayed out until I could see something worth trading. Took the one below because it had formed a bull flag on 15min and broke through, along with breaking through the pivot as per the rules and ha's green. Set the take profit just below the pivot between the level 1 and 2 atr lines.
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  • #5,824
  • Oct 27, 2011 9:23am Oct 27, 2011 9:23am
Quoting johnjwong
I have made 3 trades this morning, please help me determine where I did wrong, as at the time of the trade, the ZZ semafor is following the rules.

GBPJPY: +5.8 pips
EURJPY: -27 pips
EURGBP: -9.7 pips

I dont understand why you have MAs on your chart and DO NOT USE THEM! If you are using them for trend i think you can see why your trades did not work...TREND WAS UP! lol Well on the first 2 the third looked down. So you should have had 2 WINNERS and 1 loser!

My only trade for today....Over slept! Damn pain killers! lol But 90 pips works for me!
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  • #5,825
  • Oct 27, 2011 9:36am Oct 27, 2011 9:36am
Quoting ohammond
GU was pretty choppy first thing so stayed out until I could see something worth trading. Took the one below because it had formed a bull flag on 15min and broke through, along with breaking through the pivot as per the rules and ha's green. Set the take profit just below the pivot between the level 1 and 2 atr lines.
Hope we'll see you back in chat when you have the new PC. (Hope the language doesn't bother you; no filters there!) I use 3 monitors myself. 1 for chat, 1 for trading, 1 for other stuff (to keep me from watching every single tick once I'm in a trade!).

In a few weeks I'm taking a week off from work so I can stay up for the whole London session. Missed those lovely trades yesterday. Right now, if I don't get my setups before I have to go to sleep, I can only look back and say, "one of these days".
  • #5,826
  • Oct 27, 2011 9:38am Oct 27, 2011 9:38am
This one was one of the longest I've had to hang on for around +60
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  • #5,827
  • Oct 27, 2011 11:28am Oct 27, 2011 11:28am
nice strong uptrend, come close to a 5 min demand level, so took the long with all rules in place, currently at 55 pips profits taken with some left in
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  • #5,828
  • Oct 27, 2011 11:57am Oct 27, 2011 11:57am
Quoting ohammond
This one was one of the longest I've had to hang on for around +60
hi,
which pivot have you used in this chart?
mine just looks at today but i would like to get one that shows pviot differently with each day, so i can go back and study

have a great day,
J
  • #5,829
  • Oct 27, 2011 1:24pm Oct 27, 2011 1:24pm
Quoting Jhfx
hi,
which pivot have you used in this chart?
mine just looks at today but i would like to get one that shows pviot differently with each day, so i can go back and study

have a great day,
J
They are the ones that Dred posted if you look in the attachments at the top of the thread they are in the zip file he uploaded, they are the normal pivots with the fibonnaci setting at false.
  • #5,830
  • Oct 27, 2011 2:02pm Oct 27, 2011 2:02pm
heres a loser trying to counter trend, only obvious thing is against the trend.

Entry is the red vertical line

Anyway i shorted at red line obviously that green ha was yet to form, so it was close of the red HA candle according to rules, stoch now red going down.

ANd altough there is no semafor that big number 3 which is higher up was beatifully placed on the R2 line which was my biggest reason for entry.

So all 4 rules were met as far as i can see.
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  • #5,831
  • Oct 27, 2011 2:11pm Oct 27, 2011 2:11pm
Quoting ohammond
They are the ones that Dred posted if you look in the attachments at the top of the thread they are in the zip file he uploaded, they are the normal pivots with the fibonnaci setting at false.

thank you! got it!
i was using pivotsforfreebie, but now changed to pivots!

thank you again,
J
  • #5,832
  • Oct 27, 2011 2:13pm Oct 27, 2011 2:13pm
Quoting Jhfx
thank you! got it!
i was using pivotsforfreebie, but now changed to pivots!

thank you again,
J
which one is better to use, and whats the difference?
  • #5,833
  • Oct 27, 2011 2:45pm Oct 27, 2011 2:45pm
Quoting deankenny21
which one is better to use, and whats the difference?
Dean use Pivots.

I think 90 % of the people here use it.

Udine
Sleep less, live fast, as it aint gonna last
  • #5,834
  • Oct 27, 2011 3:02pm Oct 27, 2011 3:02pm
Quoting deankenny21
which one is better to use, and whats the difference?
I like it because you can look at it historically.
  • #5,835
  • Oct 27, 2011 3:07pm Oct 27, 2011 3:07pm
next week about now you will have your dream set up... Nice...
Udine
Sleep less, live fast, as it aint gonna last
  • #5,836
  • Oct 27, 2011 3:12pm Oct 27, 2011 3:12pm
Quoting Udine
next week about now you will have your dream set up... Nice...
Udine
  • #5,837
  • Oct 27, 2011 4:06pm Oct 27, 2011 4:06pm
Entry on both at red vertical line, TP at pivot closest to daily range, got EUR/JPY, USD/CAD took half of the table at 1:1 R/R, rest still going, but not much of the steam in it, SL at BE, so no pressure.
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  • #5,838
  • Edited 6:21pm Oct 27, 2011 6:16pm | Edited 6:21pm
@johnwong

Dredding called half of it, you have the MA on there all going solidly one direction and you traded against them. Still in my mind the biggest reason for the failed trades was the lack of any failed pivot level on the trades. The semi's are all in no mans land, no S/R identified. I'm not sure about others but the Pivot lines I have found to be very essential to identifying a good trade vs just some random bounce. It also helps in identifying your initial SL point and maybe first and second target levels for TP. USE THE PIVOTS.

Edit - You can see on your third chart GJ that you enter long after a semi that bounces into nowhere. It then goes up and retraces back down and bounces this time off of M2. After finding that support and going up I would be more inclined to believe it will follow through to the up side.

Trade On.
  • #5,839
  • Oct 27, 2011 8:34pm Oct 27, 2011 8:34pm
At last I've gotten to the end of this thread. Took me all week. I have 34 pages of notes. Eyes bugging out. But I've had my epiphany.
Read page 1. Follow the 4 rules. Check higher TF. Place trade. Who needs 34 pages of notes....Dredding was right. Read the thread.

Thanks Dredding you've taught an old bloke some new tricks. I appreciate your efforts.
I now sing the Whipsaw Song. Drives my kids mad.
Blessings. Batavier
Just trade the pullback you idiot!
  • #5,840
  • Oct 28, 2011 4:45am Oct 28, 2011 4:45am
Quoting Checkz
A bill money setup maybe in the making on the daily chart.
Im still waiting for a sell signal to make some bill money. I feel like .82334 maybe a good place to look for me a sell signal but who knows price might break it.
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