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Price Action Trading with Indicators! The Freebie System

  • #5,961
  • Nov 2, 2011 7:34pm Nov 2, 2011 7:34pm
Quoting Batavier
Re: Freebie signal alert v1.
Dredd would you be so kind as to let us know what this measures. Your advice to us was not to us indis we didn't understand. I'd like to grow my understanding a little further.

Thanks for your time, effort and encouragement.
Please read the THREAD...it is described what the indicator does! And it is based off of 2 of the 4 RULES! Its really not that hard.
  • #5,962
  • Nov 2, 2011 8:17pm Nov 2, 2011 8:17pm
Quoting Dredding82
Please read the THREAD...it is described what the indicator does! And it is based off of 2 of the 4 RULES! Its really not that hard.
Doh! Of course it is. Semafor and Stochastic in agreement. Now u say it I see it. Thanks again.
Just trade the pullback you idiot!
  • #5,963
  • Nov 2, 2011 8:56pm Nov 2, 2011 8:56pm
Quoting Batavier
Doh! Of course it is. Semafor and Stochastic in agreement. Now u say it I see it. Thanks again.
No, HA's and stochastic in agreement.
  • #5,964
  • Nov 2, 2011 10:08pm Nov 2, 2011 10:08pm
Quoting ohammond
No, HA's and stochastic in agreement.
I stand corrected. Thanks Ohmnd.
Just trade the pullback you idiot!
  • #5,965
  • Nov 3, 2011 9:51am Nov 3, 2011 9:51am
Deankenny,

The news release is an unfortuante player in your trade, however if you look back over the numerous people that ask what went wrong with their trade, most of them DID NOT TRADE THE PIVOTS. You took a trade where no clear support/resistance is established. The trade is in no mans land. I will say it again and again, the missing link of making these high percentage trades is to use the pivots to more clearly define turning points. This is one of the rules. Use all the tools and rules Dredding has given us and you will be more successful.
  • #5,966
  • Nov 3, 2011 10:02am Nov 3, 2011 10:02am
Another positive day. The result is a very nice +12.1 % to the account

Green pips

Udine
Sleep less, live fast, as it aint gonna last
  • #5,967
  • Nov 3, 2011 10:15am Nov 3, 2011 10:15am
ok i bought here, got a failt at pivot, semafor was formed, H4 is green stoch crossed up lets go! but what went wrong?
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  • #5,968
  • Nov 3, 2011 10:19am Nov 3, 2011 10:19am
Quoting ejohnston5
Deankenny,

The news release is an unfortuante player in your trade, however if you look back over the numerous people that ask what went wrong with their trade, most of them DID NOT TRADE THE PIVOTS. You took a trade where no clear support/resistance is established. The trade is in no mans land. I will say it again and again, the missing link of making these high percentage trades is to use the pivots to more clearly define turning points. This is one of the rules. Use all the tools and rules Dredding has given us and you will be more successful....
that was a pivot, the yellow dotted line
  • #5,969
  • Nov 3, 2011 11:07am Nov 3, 2011 11:07am
Quoting deankenny21
ok i bought here, got a failt at pivot, semafor was formed, H4 is green stoch crossed up lets go! but what went wrong?
Just one of them trades that didnt go your way. If the system was perfect we would all be millionaires within weeks!

The problem from what I can see the 4hr HA turned green for a short while during the candle was forming but it then closed red. Looking back now there was never a trade.

I also think you need to have an idea of market sentiment for which today has been choppy but short $$.

D
  • #5,970
  • Nov 3, 2011 11:31am Nov 3, 2011 11:31am
Hi Dredd

I've been reading this thread on and off for many months and a few days ago made the decision to re-read it from the beginning and make notes.

I finished this morning & just wanted to thank you for providing such a simple and stress free system that as a newbie, I believe I can follow without being confused.

All the best for tomorrow as it is one of your favourite days for trading
  • #5,971
  • Nov 3, 2011 2:31pm Nov 3, 2011 2:31pm
Quoting deankenny21
ok i bought here, got a failt at pivot, semafor was formed, H4 is green stoch crossed up lets go! but what went wrong?

I too would have been more apt to have taken this trade as it seems to have found support on the M2. If I were trading today I may have been on the same boat. The earlier trade was not one I would have taken due to no S/R.

Just remember, we will ALL have losers. Just make sure and watch the R:R and follow good money management to stay in for the long haul.

Thanks for posting the trades.
  • #5,972
  • Nov 3, 2011 11:59pm Nov 3, 2011 11:59pm
Quoting deankenny21
ok i bought here, got a failt at pivot, semafor was formed, H4 is green stoch crossed up lets go! but what went wrong?

Hi Dean,

sorry for the late reply, but came home last night and found family members ill, so I had my hands more than full....

maybe before entering, wait for the break out of the signal bar...
The signal bar is the bar where you got your signal.

If there is no break out there is no momentum, so no entry. The worst that can happen is that you profit a few pips less, but this way you might stack the probability in your favor

But you have to accept a loss once in a while as the cost of doing business.

Udine
Sleep less, live fast, as it aint gonna last
  • #5,973
  • Edited 4:22am Nov 4, 2011 3:33am | Edited 4:22am
Quoting Udine
well done

Udine

Hi Udine

After thanking Dredd for sharing his system, I also wanted to thank you for sharing the link to CrucialPoint's thread, which I've read & found incredibly valuable.

Also, I would be lying if I said that I don't have a few questions on your implementation of Dredd's system

As a junior member I can't PM and in line with Dredds wishes to keep this thread focused on his system, I've created a temporary email account (xxxx) which hopefully you will use to contact me.

Thanks

KK
  • #5,974
  • Nov 4, 2011 3:52am Nov 4, 2011 3:52am
Quoting KingKhan
Hi Udine

After thanking Dredd for sharing his system, I also wanted to thank you for sharing the link to CrucialPoint's thread, which I've read & found incredibly valuable.

Also, I would be lying if I said that I don't have a few questions on your implementation of Dredd's system

As a junior member I can't PM and in line with Dredds wishes to keep this thread focused on his system, I've created a temporary email account ( ([email protected])) which hopefully you will use to contact me.

Thanks...
mail sent

Udine
Sleep less, live fast, as it aint gonna last
  • #5,975
  • Nov 4, 2011 4:25am Nov 4, 2011 4:25am
Quoting Udine
mail sent

Udine

Hi Udine

Email received and thanks for the prompt response

KK
  • #5,976
  • Nov 4, 2011 6:02am Nov 4, 2011 6:02am
you're welcome

Udine
Sleep less, live fast, as it aint gonna last
  • #5,977
  • Nov 4, 2011 6:13am Nov 4, 2011 6:13am
The ADR indy I use

Udine
Attached File(s)
File Type: ex4 xADR_0.2.ex4   6 KB | 619 downloads
Sleep less, live fast, as it aint gonna last
  • #5,978
  • Nov 4, 2011 12:24pm Nov 4, 2011 12:24pm
Sooooo...how did everyone do this week?
  • #5,979
  • Nov 4, 2011 12:33pm Nov 4, 2011 12:33pm
rough week, typical newbie meltdown. big gains got me greedy and didn't stick to my money management rules strictly

overexposure and trying to reap too large of a risk:reward ratio, the kicker is I know my trades would've done okay if i positioned myself accordingly and stuck to a 1:1 or 1:2 return

hopefully lessson learned. theres always next week
  • #5,980
  • Nov 4, 2011 3:40pm Nov 4, 2011 3:40pm
Quoting neuron
rough week, typical newbie meltdown. big gains got me greedy and didn't stick to my money management rules strictly

overexposure and trying to reap too large of a risk:reward ratio, the kicker is I know my trades would've done okay if i positioned myself accordingly and stuck to a 1:1 or 1:2 return

hopefully lessson learned. theres always next week

Im sure for some it was a tough week...The start of the week was BEAUTIFUL! But then it went into a ranging up trend in the middle of the week like most NFP weeks!

As i have stated many times...Reduce risk and let profits run. Some might think it sounds crazy and you could never make any kind of profit from it. But if you yourself would have reduced risk at what ever R:R instead of trying to hit a home run every trade your account would only took small losses while saving your capital for better trading conditions.

Lessons are learned everyday. What does not blow your account only makes you ready for the next time something like this happens.
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