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Price Action Trading with Indicators! The Freebie System

  • #5,921
  • Oct 31, 2011 8:21pm Oct 31, 2011 8:21pm
Quoting deankenny21
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
Here found it for ya..it was on the 2nd page lol
I think i ranted some more a few posts/pages later also.....
Quoting Dredding82
Thanks man! yea if people only really knew how to use the indicators then they wouldnt lose so much money. I wish people on here would understand every indicator was made for a reason and there is a proper way to use it but there always loaded on to these forums by newbies asking how to use them.
Then you have those guys that say and think they know it all but have been in forums trying to learn how to make profits for years and years but when there is a real system thats so simple it makes them mad they never thought of it.
hope you really do...
  • #5,922
  • Oct 31, 2011 8:23pm Oct 31, 2011 8:23pm
Quoting Dredding82
Here found it for ya..it was on the 2nd page lol
I think i ranted some more a few posts/pages later also.....
thats just saying about using the indicators, not how to interpret the indicator i have on my chart, theres nothing there for that
  • #5,923
  • Oct 31, 2011 8:25pm Oct 31, 2011 8:25pm
Quoting deankenny21
thats just saying about using the indicators, not how to interpret the indicator i have on my chart, theres nothing there for that
PAGE 3! Click on the link thingy to it and READ THE WHOLE POST!....I should not have to tell people how to use an indicator....That is part of your "HOMEWORK" you should have already done if you want and wish to use an indicator and MAKE PROFITS.

Quoting Dredding82
Not trying to sound mean....but you didnt even read the thread if you did then you would have done what i have told everyone to do if they wanted the indicators..............

This is another reason alot of you traders have been in a forum for 1-5 years trying to learn to trade, because everytime you see a new system someone wants to share you jump on the wagon when you almost understood the last system you were trying to use to trade.

The best place for anyone to start in trading is to look at the standard indicators that come with your...
  • #5,924
  • Oct 31, 2011 8:30pm Oct 31, 2011 8:30pm
Quoting Dredding82
PAGE 3! Click on the link thingy to it and READ THE WHOLE POST!....I should not have to tell people how to use an indicator....That is part of your "HOMEWORK" you should have already done if you want and wish to use an indicator and MAKE PROFITS.
im not going to argue with you, not the road im heading down, i think i know enough about stochastics lol. Im changing them back to the original to save any confusion on future trades
  • #5,925
  • Oct 31, 2011 8:33pm Oct 31, 2011 8:33pm
Quoting deankenny21
im not going to argue with you, not the road im heading down, i think i know enough about stochastics lol. Im changing them back to the original to save any confusion on future trades

Well not to argue...but fill us all in on what stochastics are, who made the indicator, How did they use it....etc. Just for others that might not understand the indicator. lol
  • #5,926
  • Oct 31, 2011 8:37pm Oct 31, 2011 8:37pm
Quoting Dredding82
Well not to argue...but fill us all in on what stochastics are, who made the indicator, How did they use it....etc. Just for others that might not understand the indicator. lol
well the last thing im going to do is write an essay at 1:35am, but to put short a stoch is a oversold./overbought indicatorpretty much nothing more nothing less, indicating when a market is overbought or oversold according to its avearage trading etc.
  • #5,927
  • Edited 12:30am Nov 1, 2011 12:20am | Edited 12:30am
Quoting deankenny21
well the last thing im going to do is write an essay at 1:35am, but to put short a stoch is a oversold./overbought indicatorpretty much nothing more nothing less, indicating when a market is overbought or oversold according to its avearage trading etc.
Well sorta yes and sorta no.... lol

The Stochastic Oscillator Technical Indicator compares where a security’s price closed relative to its price range over a given time period. The Stochastic Oscillator is displayed as two lines. The main line is called %K. The second line, called %D, is a Moving Average of %K. The %K line is usually displayed as a solid line and the %D line is usually displayed as a dotted line.

There are several ways to interpret a Stochastic Oscillator. Three popular methods include:

Buy when the Oscillator (either %K or %D) falls below a specific level (e.g., 20) and then rises above that level. Sell when the Oscillator rises above a specific level (e.g., 80) and then falls below that level;

Buy when the %K line rises above the %D line and sell when the %K line falls below the %D line;

Look for divergences. For instance: where prices are making a series of new highs and the Stochastic Oscillator is failing to surpass its previous highs.


Calculation:
The Stochastic Oscillator has four variables:

%K periods. This is the number of time periods used in the stochastic calculation;

%K Slowing Periods. This value controls the internal smoothing of %K. A value of 1 is considered a fast stochastic; a value of 3 is considered a slow stochastic;

%D periods. his is the number of time periods used when calculating a moving average of %K;

%D method. The method (i.e., Exponential, Simple, Smoothed, or Weighted) that is used to calculate %D.

The formula for %K is:

%K = (CLOSE-LOW(%K))/(HIGH(%K)-LOW(%K))*100
Where:
CLOSE — is today’s closing price;
LOW(%K) — is the lowest low in %K periods;
HIGH(%K) — is the highest high in %K periods.

The %D moving average is calculated according to the formula:

%D = SMA(%K, N)
Where:
N — is the smoothing period;
SMA — is the Simple Moving Average.

For more info ....http://en.wikipedia.org/wiki/Stochastic_oscillator
  • #5,928
  • Nov 1, 2011 1:13am Nov 1, 2011 1:13am
Quoting dawsonsg
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
You might be right, but I am still convinced that if I am to trade on 15M time frame, I should look at the 15M TF for trends as there should be enough say 30 bars of data for me to determine the trend, any older bars will be not relevant as 30 bars is already 7.5 hours. I do not intend to hold the trade longer than that and I do not need to if I play at the correct session of the pair. If I look at the 4 hour chart, there will be lots of additional information that are useful but not suited to my style as I do not intend to hold the trade for long time (I only day trade, close at end of day).

I might be wrong but to me, looking at the higher time frame is same as zooming out to see the bigger picture, when my intention is to hold the trade in less than several hours, the bigger picture becomes irrelevant and the most current trend (trend at 15M) becomes more relevant. Am I wrong?
  • #5,929
  • Nov 1, 2011 1:25am Nov 1, 2011 1:25am
Thanks for sharing dredd. This is certainly a solid method. I took my first trade today with 1:1 RR. Just got home and saw my target was hit. Here is my long on Loony this morning.
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  • #5,930
  • Nov 1, 2011 2:39am Nov 1, 2011 2:39am
only been a couple hours but closed a few nice trades with risk:reward ranging from 1:1 to 1:2

on the 5M, shorted EUR/USD, GBP/USD, GOLD, mini Dow, Oil


im diggin the new indicator, helps you stay with the trend with that autotrend "on" only work you gotta do is keep an eye out for pivot points and place them orders!
  • #5,931
  • Nov 1, 2011 4:04am Nov 1, 2011 4:04am
Quoting A-game
Thanks for sharing dredd. This is certainly a solid method. I took my first trade today with 1:1 RR. Just got home and saw my target was hit. Here is my long on Loony this morning.
Killer Trading!
  • #5,932
  • Nov 1, 2011 5:28am Nov 1, 2011 5:28am
Quoting neuron

im diggin the new indicator, helps you stay with the trend with that autotrend "on" only work you gotta do is keep an eye out for pivot points and place them orders!
I second that, how lazy can we be and still earn money
  • #5,933
  • Nov 1, 2011 6:29am Nov 1, 2011 6:29am
one small 1:1 trade this morning...

regards
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  • #5,934
  • Nov 1, 2011 7:43am Nov 1, 2011 7:43am
I had been about +110 up on the above but they kept bouncing off lows and retracing back to about +50.

I had been tempted to exit fearing a reversal but with this mornings euronews i thought there must be more to come

In the end, and after a long wait i exited for +81

The minute after i exited dow dropped 60+ and oil+30

Unbelievable!!!
" Dont wait for your boat to come in ..... swim out and meet it"
  • #5,935
  • Nov 1, 2011 7:47am Nov 1, 2011 7:47am
Quoting speedtrip
I had been about +110 up on the above but they kept bouncing off lows and retracing back to about +50.

I had been tempted to exit fearing a reversal but with this mornings euronews i thought there must be more to come

In the end, and after a long wait i exited for +81

The minute after i exited dow dropped 60+ and oil+30

Unbelievable!!!


lol dont worry brother thatd the beauty of the markets. There will always be more opportunities tomorrow.
  • #5,936
  • Nov 1, 2011 1:10pm Nov 1, 2011 1:10pm
Johngjwong,

I have found in the years of trading that the higher time frames are always more reliable for trading and taking signals. To take it to an extreme, imagine trading on the M1 time frame. Yes you can see enough semi's to do a HH/LL analysis but all it takes is one big commercial trader to jump in and do something and your chart is all screwed to He!!. The M15 time frame is nice becuase you actually start to see some trends that will hold and the signals become a little more believeable but you are still very susceptible to whipsaw behavior in the market. Need to really watch the trades very close and be prepaired for a much higher loss rate than higher TFs. I agree with what many others have said that if you are going to trade the lower time frames why would you not at least use the more reliable higher TFs data to make sure you are heading the with the trend and increase your likelyhood of success. If you are getting lots of losses, move up to the next TF.
  • #5,937
  • Nov 1, 2011 2:08pm Nov 1, 2011 2:08pm
Evening guys,

I'm looking to trade the US session after work as it's getting a bit difficult to get my trades on in the office. Here is one I tool earlier. Currently +15.

Looks good to me but if anybody has anything critical to point out, please do!
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  • #5,938
  • Nov 1, 2011 2:16pm Nov 1, 2011 2:16pm
Quoting ejohnston5
Johngjwong,

I have found in the years of trading that the higher time frames are always more reliable for trading and taking signals. To take it to an extreme, imagine trading on the M1 time frame. Yes you can see enough semi's to do a HH/LL analysis but all it takes is one big commercial trader to jump in and do something and your chart is all screwed to He!!. The M15 time frame is nice becuase you actually start to see some trends that will hold and the signals become a little more believeable but you are still very susceptible to whipsaw behavior...
I am an accountant, and in financial statements, there is a trade off between using historical prices vs fair value prices. The trade off after all is between reliability and relevance. I agree with you, the indicators at higher time frame will certainly be more reliable due to less noise. However, we must balance this with the relevance of historical chart information, the lower time frame promotes relevance since should there be a break out, waiting for higher time frame confirmation may be too slow to capture the profits. I may be wrong, but trading at 1M or 5M have the most relevant information as they are the most current however, they are also much less reliable due to noise. Trading at Weekly or daily time frame will be much reliable but their information may be less relevant. There comes my balance of trading at 15M time frame and completely relying on the information on the time frame. Of course, I agree with your suggestion of checking out the higher time frame, but afterall, we are the one to balance the relevance vs reliability trade offs.
  • #5,939
  • Nov 1, 2011 2:49pm Nov 1, 2011 2:49pm
Quoting los_pipos
Evening guys,

I'm looking to trade the US session after work as it's getting a bit difficult to get my trades on in the office. Here is one I tool earlier. Currently +15.

Looks good to me but if anybody has anything critical to point out, please do!
LFC

Nothing wrong with your trade as far as I can see. For the evening session for us in the UK I would recommend watching the S&P. The thing that would put me off in going long $`s tonight is the fact the S&P seems to be finding some support (for now!). One of them sessions where you dont like shorting it at support (although the signals would have given pips!) but cant long it either as we have not had the 4hr heiken change.

D
  • #5,940
  • Nov 1, 2011 3:42pm Nov 1, 2011 3:42pm
Nice trading Agame!!!!
Time ta makes some pips!

dojirock
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