Price Action Trading with Indicators! The Freebie System | Page 296 | Forex Factory

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Price Action Trading with Indicators! The Freebie System

  • #5,901
  • Oct 31, 2011 12:31pm Oct 31, 2011 12:31pm
The lower the tf you use, the more susceptible you are to whipsaws.


Quoting deankenny21
what was wrong with this trade

i got a fail at pivot there WAS a semafor marked where i put the red X symbol.

lower lows and lower highs formed, red ha on higher tf's

trade took me out on next candle didnt even gimme a chance
  • #5,902
  • Oct 31, 2011 12:33pm Oct 31, 2011 12:33pm
Quoting deankenny21
what was wrong with this trade

i got a fail at pivot there was a semafor marked where i put the red x symbol.

Lower lows and lower highs formed, red ha on higher tf's

trade took me out on next candle didnt even gimme a chance
read the thread! Adr was already reached!
  • #5,903
  • Oct 31, 2011 12:39pm Oct 31, 2011 12:39pm
Quoting mustangzs
I'm out for the day with +97 pips. Thanks to whom ever it was a few weeks ago that posted their trades on the EUR/CAD pair. I never thought to trade that currency pair and I've been trading it for 2 weeks with much success. Large swing highs and lows, nice volume, very easy to trade with this system.

EUR/CAD +27
EUR/AUD +70

Did anyone take my advice on the USD/JPY?
yap i took usdjpy and audjpy and both gave $$$!
by the way, i read cnbc homepage headlights, but is there a page where you specifically go in to read articles?

regrads,
J
  • #5,904
  • Oct 31, 2011 12:52pm Oct 31, 2011 12:52pm
Quoting Jhfx
yap i took usdjpy and audjpy and both gave $$$!
by the way, i read cnbc homepage headlights, but is there a page where you specifically go in to read articles?

regrads,
J
I usually don't bother reading the articles, mainly I'm listening to Bloomberg tv throughout my trading day, then I'm watching it again at night with a little Jim Cramer's MAD MONEY at 6. I get everything I need from listening to interviews and headlines through the day. That way, I'm getting the information before the journalist has time to type up the interviews/information.
  • #5,905
  • Oct 31, 2011 2:50pm Oct 31, 2011 2:50pm
Hi John,

My understanding is that you should be looking for the trend on a higher timeframe, not the one you are trading.

For that USDCAD I took I looked at the 4hr and it was definetly all down.

Steve

Quoting johnjwong
Udine: continuing on our discussion on the chat, I have attached the following 2 pictures.
The first one is to indicate how I define the trend, higher high and higher low on ZZ.
The 2nd one I took the trade again... following all Dredding's 4 rules: pivot failed on M3, green HA, trend up, crossed stoch and a low semafor (within 3 bars).
  • #5,906
  • Oct 31, 2011 3:08pm Oct 31, 2011 3:08pm
Hope everyone had a good day trading today. It sounds like there was a lot of confusion about identifying trend..guessed some people got tricked today, but tonight is all treats!! See you all bright early tomorrow morning.........if the monsters that hide in the shadows at night don't get me first......ARGGHH!!!

Happy Halloween.
  • #5,907
  • Oct 31, 2011 3:08pm Oct 31, 2011 3:08pm
Ok so the arrows looked great on the Freebie Signal Alert v1.0 but i found out today that the email was not working which i already fixed. There is also another bug that makes it alert EVERY candle pretty much. I am trying to fix it but not having any luck. I have asked another person that codes to give the code a look to see if he can find were i messed up on the alert code. If anyone else that codes wants to give it a look PM me ...
  • #5,908
  • Oct 31, 2011 3:47pm Oct 31, 2011 3:47pm
I finally got my sell signal on the Nzd/Usd. I entered it BOLOSO style when price broke the 2 semafor. Over 50 pips of profit stop at breakeven. Today was agood day!
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.jpg Size: 136 KB
  • #5,909
  • Oct 31, 2011 4:02pm Oct 31, 2011 4:02pm
exited trade with 52 pips of profit after I saw the Adr was hit.
  • #5,910
  • Oct 31, 2011 7:11pm Oct 31, 2011 7:11pm
Quoting deankenny21
what was wrong with this trade

i got a fail at pivot there WAS a semafor marked where i put the red X symbol.

lower lows and lower highs formed, red ha on higher tf's

trade took me out on next candle didnt even gimme a chance
As well as what Dred said, that the atr had been reached, the stoch had also not crossed down on my chart.
  • #5,911
  • Oct 31, 2011 7:21pm Oct 31, 2011 7:21pm
Quoting ohammond
As well as what Dred said, that the atr had been reached, the stoch had also not crossed down on my chart.
u need to go back a candle, as that was confirmation candle, i entered at beginning of that candle i have red line on dont forget, so the stoch now not crossing would have happaned during the forming of this candle, so the stoch was down at point of entry
  • #5,912
  • Oct 31, 2011 7:40pm Oct 31, 2011 7:40pm
Quoting deankenny21
u need to go back a candle, as that was confirmation candle, i entered at beginning of that candle i have red line on dont forget, so the stoch now not crossing would have happaned during the forming of this candle, so the stoch was down at point of entry
Yes I see where you went in and thats what I found a bit strange as I also trade with FXPro and where you have the Freebie signal arrow I have none until about another 4 candles further over.
  • #5,913
  • Oct 31, 2011 7:48pm Oct 31, 2011 7:48pm
Posted a pic so you can see what I'm looking at.
Attached Image (click to enlarge)
Click to Enlarge Name: nzusd5.gif Size: 36 KB
  • #5,914
  • Oct 31, 2011 7:53pm Oct 31, 2011 7:53pm
Quoting ohammond
Posted a pic so you can see what I'm looking at.
yes ive noticed this, the crossover happens later compared to the one line colour changing stoch
  • #5,915
  • Oct 31, 2011 8:05pm Oct 31, 2011 8:05pm
Quoting deankenny21
yes ive noticed this, the crossover happens later compared to the one line colour changing stoch
I would love to say you are right about the cross did happen. But you are wrong, if you look in the indicators code you will see that the color change happens when the k%[0] < K% [1] or for a buy....K%[0] > K%[1]. So the cross of the K% and D% never happened since the indicator is coded to only look at the K%. It might look at [1] & [2] but i do not have the code.
  • #5,916
  • Oct 31, 2011 8:09pm Oct 31, 2011 8:09pm
Quoting Dredding82
I would love to say you are right about the cross did happen. But you are wrong, if you look in the indicators code you will see that the color change happens when the k%[0] < K% [1] or for a buy....K%[0] > K%[1]. So the cross of the K% and D% never happened since the indicator is coded to only look at the K%. It might look at [1] & [2] but i do not have the code.
so the coloured stoch im using is misleading then, as theres no way to tell if a real cross happened because i got 2 loaded on same screen colour and cross, and the the colour one always changes colour 1 candle before the crossover one
  • #5,917
  • Oct 31, 2011 8:12pm Oct 31, 2011 8:12pm
Quoting deankenny21
so the coloured stoch im using is misleading then, as theres no way to tell if a real cross happened because i got 2 loaded on same screen colour and cross, and the the colour one always changes colour 1 candle before the crossover one
No it is not misleading...you just did not understand HOW the indicator worked. Since you said you could code, it is an easy change in the code. Just where you see the second K% change it to D% and it will only change color once the cross has happened with the K% & D%
  • #5,918
  • Oct 31, 2011 8:17pm Oct 31, 2011 8:17pm
Quoting Dredding82
No it is not misleading...you just did not understand HOW the indicator worked. Since you said you could code, it is an easy change in the code. Just where you see the second K% change it to D% and it will only change color once the cross has happened with the K% & D%
no what im meaning is, if other people are using it, they are all looking for the colour change as the signal, im not just meaning me, im going by how other people are using it.
  • #5,919
  • Oct 31, 2011 8:19pm Oct 31, 2011 8:19pm
Quoting deankenny21
no what im meaning is, if other people are using it, they are all looking for the colour change as the signal, im not just meaning me, im going by how other people are using it.

Read the first few pages of the thread please. I have went over about newbies using some indicator they found on some webpage and have no understanding of how the indicator really works and such. lol
  • #5,920
  • Oct 31, 2011 8:20pm Oct 31, 2011 8:20pm
Quoting Dredding82
Read the first few pages of the thread please. I have went over about newbies using some indicator they found on some webpage and have no understanding of how the indicator really works and such. lol
read about 10 times, lol you know how long you thread is dude. I cannot save everything in my mind that ive read for oveer 380 pages, im not a machine lol
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