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Price Action Trading with Indicators! The Freebie System

  • #6,281
  • Feb 16, 2012 3:17am Feb 16, 2012 3:17am
Quoting Dredding82
TP levels are easy...determine how long before you place the trade that you will want to say in that trade. Then go to that TF and look at the pivots and ADR . Either use the ADR or a pivot close to it. Learning to not use emotions is very hard for most because they are trading small accounts and risking to much on each trade so when they do lose on a trade the DD makes them feel like they have just lost half of the account even if it was only 10%. Which is why it makes it a bit easier when you reduce risk so you pull all your capital out of the...
So True Dredd. I did an experiment ... I placed $500 in a trading account and I made my trades tiny ....$20 dollars per trade ..(ok 4% its double the recommended trade size)The exercise was to see what emotional stresses get in the way of the actual trade .From this experiment I was able to work out my risk profile and see how the loss affected my trading ability . So far it all be good and the account is on $100 profit ....I'll blame that profit on perfect trading conditions over the past three days>>> I want to see how I can grow this account slowly slowly catch a monkey !!
  • #6,282
  • Feb 16, 2012 8:35am Feb 16, 2012 8:35am
Here you go. Trade still open, closed half..etc..etc.
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  • #6,283
  • Feb 16, 2012 9:12am Feb 16, 2012 9:12am
Way to go Mustangz!

Here you go too...

Was waiting for HL on 15m... went in with low risk today as didnt have much confidence selling $$$..

D
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  • #6,284
  • Feb 16, 2012 9:46am Feb 16, 2012 9:46am
Close to 100 pips today. Several trades closed at daily open. Good fundamentals for US open.
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  • #6,285
  • Feb 16, 2012 10:50am Feb 16, 2012 10:50am
Wow Mustangzs, that looks great.......seems like you have this styly going well for you!
  • #6,286
  • Feb 16, 2012 11:38am Feb 16, 2012 11:38am
nice trading!

had a rough london session, was being dumb and was trading against trend thinking it would hit resistance, to add salt to the wound, it appeared I did that multiple times. (I have now written in BOLD on paper to remind myself lol) I'm thinking a little overconfidence from good days of trading earlier this week skewed my thoughts

stopped trading for a few hours, analyzed what I was doing wrong, started new york session fresh and came out +143
  • #6,287
  • Feb 16, 2012 11:52am Feb 16, 2012 11:52am
Just a few trades...but PIPS are CrAzY!
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  • #6,288
  • Feb 16, 2012 12:45pm Feb 16, 2012 12:45pm
Found that fricking song.....Now i can make me a KOOL ass video lol


http://www.youtube.com/watch?v=t9u9mZz-o-g

  • #6,289
  • Feb 16, 2012 2:27pm Feb 16, 2012 2:27pm
dredding i did not take that one because trend was down then, how did you decide this trade?

Quoting Dredding82
Just a few trades...but PIPS are CrAzY!
  • #6,290
  • Feb 16, 2012 9:34pm Feb 16, 2012 9:34pm
Quoting wild
dredding i did not take that one because trend was down then, how did you decide this trade?

Remember what i said yesterday in chat...."what goes up/down MUST come down/up, Before it continues HIGHER/LOWER"

I think i proved that point with my play trade with FxMedic on the AudUsd trade....or was it not clear how powerful the use of the ADR is if implied right?

Trend = MORE pips.......
Counter Trend = LESS pips.....


Refer to POST # 1!
  • #6,291
  • Feb 17, 2012 10:32am Feb 17, 2012 10:32am
Feel like I am getting a bit cocky now for my own good! I can feel a loss coming on very soon but not today...

Just 2 trades today. Both on AU. Stayed away from EU.

First was taken just after the London open on the 15m chart. Only took a few pips and didnt quite make the 1:1 R/R. Was expecting a pullback so was looking for a LH. 30m and 60m TF both offered LH so got involved allbeit a little late on the 30m chart. AU is range bound now on 4hr TF so I have reduced my risk.

D
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  • #6,292
  • Feb 17, 2012 10:34am Feb 17, 2012 10:34am
Like Dred said, why trade on Friday?
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  • #6,293
  • Feb 17, 2012 3:51pm Feb 17, 2012 3:51pm
Just looking over the longer TF charts while enjoying a beer after a very productive week.

EU weekly chart has got SELL written all over her. Next week I will be looking at getting into EU on the shorter TF and holding for a lot more than 1:1 R.R.

Lets see what happens.

Cheers Y`all

D
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  • #6,294
  • Feb 19, 2012 1:50pm Feb 19, 2012 1:50pm
Quoting mustangzs
One of three of my trades today. Here's one for the newbies in the thread. Join us in the chat-room guys/gals. You can see where I closed half of my trade and let the other half ride with the trend. Stop loss was moved to breakeven. TP was set rather close because I am not at home for most of the day today and trailing stops just never work well with me. Got +80 for today total. Here ya guys go. Enjoy.

Hi mustangzs.
I wonder why you enter that trade. H4 chart (HA is red)is standing in opposision to M15 (HA is green).
Am i right the reason to enter is HL on M15 TF (see attached screen).
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  • #6,295
  • Edited Feb 20, 2012 2:13am Feb 19, 2012 10:10pm | Edited Feb 20, 2012 2:13am
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Hi Dredding,
Still a noob. Did I get the trade correct?
I did a Buy...after seeing the following

1) HA turn Green (M15 - H4)
2) Fail at pivot
3) stoch crossed up (but like turning down soon when i entered the trade)
4) Zig Zag line is below

R:R is 1:1...

UPDATE - SL Hit...
  • #6,296
  • Feb 19, 2012 10:12pm Feb 19, 2012 10:12pm
Quoting iwan73
Hi mustangzs.
I wonder why you enter that trade. H4 chart (HA is red)is standing in opposision to M15 (HA is green).
Am i right the reason to enter is HL on M15 TF (see attached screen).
Being that it's been a few day since that trade I can't tell you exactly why I took the trade verbatim. But overall you had a perfect fail at pivot, the overall trend was upward and you just saw a significant pullback. As well I can't recall but I think that average daily range had just hit it's daily low and that price shouldn't have moved any further down; this isn't to say that it wouldn't have gone further down. Being that the overall trend was up and all other rules were met I placed the trade. I think there was some economic reports that were coming out that were speculating dollar strength for that day as well. Hope that helps you out. That's about all I can recall.
  • #6,297
  • Feb 20, 2012 4:58am Feb 20, 2012 4:58am
Thanks for reply mustangzs.


My short trade.
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  • #6,298
  • Feb 20, 2012 5:46am Feb 20, 2012 5:46am
Quoting iwan73
Thanks for reply mustangzs.


My short trade.
iwan

You should not have been looking for shorts today on any $ pairs. 4hr chart heiken may have been red at the time of your trade but for me I was not looking for shorts.

D
  • #6,299
  • Edited 3:07am Feb 21, 2012 2:52am | Edited 3:07am
S entry


Edit: I am sorry. I am at work now and i had only 1 minute to post chart. I was in a hurry and of course i took long trade not short.
Sorry for missunderstanding.
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  • #6,300
  • Edited 3:18am Feb 21, 2012 3:01am | Edited 3:18am
Quoting jlpk007
Attachment
Hi Dredding,
Still a noob. Did I get the trade correct?
I did a Buy...after seeing the following

1) HA turn Green (M15 - H4)
2) Fail at pivot
3) stoch crossed up (but like turning down soon when i entered the trade)
4) Zig Zag line is below

R:R is 1:1...

UPDATE - SL Hit...
How can anyone tell you....you guys have to POST A FULL CHART...not some BS zoomed in crap that i cant even look on my chart to see where and when you placed the trade, MARK your entry with a LINE......See how my pics show the time,date,price and MARKED with a LINE....

And how were you trading on the 19th? lol All the trades i might have taken which are marked by the solid yellow lines did not hit SL...The "L" line is London OPEN..."N" line is New York OPEN....etc
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