Price Action Trading with Indicators! The Freebie System | Page 302 | Forex Factory

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Price Action Trading with Indicators! The Freebie System

  • #6,021
  • Nov 9, 2011 3:00pm Nov 9, 2011 3:00pm
Quoting robin1962
I thank you All. I was probe First Day (today) Freebie system. I Think: Freebie system is very good for no trend Day (or small trend Day), but no good for big trend Day. Is this ok ? Robin
No, this system is great in all types of markets, you just adjust your expectancy accordingly. Don't forget, the HA's are confirming price action, not just saying go in whatever else is going on. The first thing, as fisheggs has already said, you didn't trade with the trend. The trend was obviously down, so to put buys in was nothing short of suicide. It wasn't just going down, it was moving like a freight train, which you don't want to stand in front of.
  • #6,022
  • Nov 9, 2011 3:15pm Nov 9, 2011 3:15pm
Quoting mustangzs
Have you read the thread? If not, go back and read it and re-read it. I guarantee you the answers you have are in the thread numerous times.
Thank you. ok, I go read. Robin
  • #6,023
  • Nov 9, 2011 3:15pm Nov 9, 2011 3:15pm
A couple of people have pm'd me and asked for my thought process this morning which made me enter short. Firstly, I never wait until all the HA's are green or red to get initially in on a trade, because if I do I find I am either too late or its due a pullback of some kind, so I look for other factors and then if 2 of the HA's are the same colour I go in. The factors I looked at this morning to go short on the chart below, are:

On opening the chart, we had pretty large divergence, secondly price went above yesterdays high (top pink dotted line) and promptly got rejected at Tokyo open. Then we had a double top right on a pivot (2 red arrows) then the bearish engulfing (2 bars before my entry at the first vertical line) all of that contributed to the chances this would be a good trade. As for the rest of the day, the speed of the down move should have screamed short and nothing else all day unless going for small scalps.

Also, I agree with mustangz when it comes to atr (the horizontal lines on my chart) I do take them into consideration but when price is moving like this, I just add the weekly and monthly pivots to the chart and keep going.

You will have to excuse this chart not having my actual trades on, I am now on the fxpro ecn platform and that doesn't have mt4.
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  • #6,024
  • Nov 9, 2011 4:34pm Nov 9, 2011 4:34pm
Quoting Jomadev
Awaited, or not, now is in your hands.

I recommend to read carefully the guide included, before using the EA in any way!
(Below you see a thumbnail of page 7 of the guide - 19 pages total)

Enjoy and let me know.

J.
Dredding82: Many Thanks for sharing your system.

JomaDev: What an impressive work of EA, I have seen in yours WitSensing. I would like to test and participate
  • #6,025
  • Nov 9, 2011 8:57pm Nov 9, 2011 8:57pm
The PDF guide to Witsensing was corrupted- Does anyone have a good copy?
  • #6,026
  • Nov 10, 2011 10:05am Nov 10, 2011 10:05am
Hey guys, not had a chance to trade much with work but caught this one today. I got out for 20 pips - should have been more. Long taken at re vertical line. Any comments welcome...
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  • #6,027
  • Nov 11, 2011 8:58am Nov 11, 2011 8:58am
Quoting los_pipos
Hey guys, not had a chance to trade much with work but caught this one today. I got out for 20 pips - should have been more. Long taken at re vertical line. Any comments welcome...
hello. what is indicator on your screen red and white arrows. thank you.
  • #6,028
  • Nov 11, 2011 10:39am Nov 11, 2011 10:39am
Umm...so...yeah..ridiculous money today?!?! Thanks to Dredding and Udine for the awesome systems.

Toast gentlemen!

Noticed you haven't posted Dredding...guess you're drowning in all that cash!!
  • #6,029
  • Nov 11, 2011 11:26am Nov 11, 2011 11:26am
Quoting genolom
hello. what is indicator on your screen red and white arrows. thank you.
It's the Freebie signal alert which indicates potential set ups by checking the HA candle on larger time frame for an idea of trend and stochastic values (and other things). It's detailed about 10 pages back I think. Obviously you need to know the system before you use it.
  • #6,030
  • Nov 12, 2011 2:01am Nov 12, 2011 2:01am
Quoting mustangzs
Umm...so...yeah..ridiculous money today?!?! Thanks to Dredding and Udine for the awesome systems.

Toast gentlemen!

Noticed you haven't posted Dredding...guess you're drowning in all that cash!!


I might know where Dred hangs out in the weekend, spending his cash

soon I will join him

Udine
Sleep less, live fast, as it aint gonna last
  • #6,031
  • Nov 12, 2011 2:26am Nov 12, 2011 2:26am
Quoting mustangzs
Umm...so...yeah..ridiculous money today?!?! Thanks to Dredding and Udine for the awesome systems.

Toast gentlemen!

Noticed you haven't posted Dredding...guess you're drowning in all that cash!!
I havent posted because i have been busy with other things this week but i have been in chat for most of the sessions.
  • #6,032
  • Nov 12, 2011 9:39am Nov 12, 2011 9:39am
Quoting Dredding82
I havent posted because i have been busy with other things this week but i have been in chat for most of the sessions.
I notice by the time I wake up and log in that I've missed you by 20 - 30 minutes each time.

Have a good weekend buddy, you too Udine.
  • #6,033
  • Nov 12, 2011 9:56am Nov 12, 2011 9:56am
Quoting Udine
I was asked to show a picture of the ADR I use and posted on the thread before.

So here it is:



it on the left bottom corner, if you haven't figured it out

So what does it show??

ATR 5 & ATR 25.
room up & down of the ADR
today's range
Average ADR
1 day ADR
5 day ADR
10 day ADR
20 day ADR.

So no more excuses of not knowing the ADR has been reached....

If you only trade when the ATR is green and the room up & down is green you have a higher probability of success. But that is one for you to find out ........

For some reason this indicator crashes my mt4 but only when i add it to GU. All my other pairs are fine even GJ.
  • #6,034
  • Nov 12, 2011 10:29am Nov 12, 2011 10:29am
Quoting los_pipos
It's the Freebie signal alert which indicates potential set ups by checking the HA candle on larger time frame for an idea of trend and stochastic values (and other things). It's detailed about 10 pages back I think. Obviously you need to know the system before you use it.
thanks for replay.
  • #6,035
  • Nov 12, 2011 1:40pm Nov 12, 2011 1:40pm
Hello,

I am new to forex and I am just going to try this system, I am sorry for my question, I have read so many posts but I couldn't find the answers I need so let me ask a few questions

1. Is there any currency pair and timeframe for this system or can I use it in any one?
2. I dont see numbers on the balls is it because today the markets are closed?
3. ZZ Semafor On top, where is this semaphore? is it the yellow line ?
4. Failed At Pivot what this mean? where is the pivot? is the pivot the resistence and support lines?
5. HA Candle Closed RED - The indicator that was loaded on my chart was the Freebie candles, is it the same as HA Candle ?

Thank you
  • #6,036
  • Nov 12, 2011 10:22pm Nov 12, 2011 10:22pm
Quoting migmac
Hello,

I am new to forex and I am just going to try this system, I am sorry for my question, I have read so many posts but I couldn't find the answers I need so let me ask a few questions

1. Is there any currency pair and timeframe for this system or can I use it in any one?
2. I dont see numbers on the balls is it because today the markets are closed?
3. ZZ Semafor On top, where is this semaphore? is it the yellow line ?
[color=black][font=Verdana]4. [color=black][font=Verdana]Failed At Pivot...
Read the #1 post.........then READ THE WHOLE THREAD! all your answers are there!
  • #6,037
  • Nov 13, 2011 5:57am Nov 13, 2011 5:57am
Hello,

I have loaded the template of the first post, it is missing the resistance and support lines (red and green dots) is it missing any indicator? or was it removed from the original template?

I have attach a screenshot

Thank you
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  • #6,038
  • Nov 13, 2011 1:05pm Nov 13, 2011 1:05pm
Quoting Dredding82
Read the #1 post.........then READ THE WHOLE THREAD! all your answers are there!
I think you should change the bottom caption that states, "You Will Always Lose Money Chasing Women, But You Will Never Lose Women Chasing Money!!" to "Read the DAMN thread from beginning to end!!"
  • #6,039
  • Nov 13, 2011 1:33pm Nov 13, 2011 1:33pm
Quoting mustangzs
I think you should change the bottom caption that states, "You Will Always Lose Money Chasing Women, But You Will Never Lose Women Chasing Money!!" to "Read the DAMN thread from beginning to end!!"
it's not easy to read all 400 posts and understand everything, this thread is hudge and I might have missed this step, I think I have understood around 300 posts already but that are still 100 to read, and also since I am a beginner at forex

if you did understood my question let me know in which post is the answer, if you can prove that it was already reply I will not make any more questions, let me know if you can show me the answer.
  • #6,040
  • Nov 13, 2011 4:11pm Nov 13, 2011 4:11pm
If you are new to forex, best you learn forex in general first. Babypips.com is a great place to start. I can tell you that all you need to get this method is in this thread, my suggestion is to read it thru at least twice, and only after you get a grasp of currency trading in general.

Quoting migmac
it's not easy to read all 400 posts and understand everything, this thread is hudge and I might have missed this step, I think I have understood around 300 posts already but that are still 100 to read, and also since I am a beginner at forex

if you did understood my question let me know in which post is the answer, if you can prove that it was already reply I will not make any more questions, let me know if you can show me the answer.
Read the entire thread BEFORE you ask questions!
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