Price Action Trading with Indicators! The Freebie System | Page 319 | Forex Factory

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Price Action Trading with Indicators! The Freebie System

  • #6,361
  • Mar 1, 2012 7:49am Mar 1, 2012 7:49am
Quoting kbeza
Hi. Iīm a rookie.(donīt have a real account, My business is crashing all demo accounts I have opened) I have a problem with "fail at pivot". Donīt know if Iīm understanding well. I donīt talk English so if somebody can explain me the concept in other words Iīll be thankfully
Regards
What is your native language and maybe we can find someone to help you. Also, I'm sure someone has posted it on Google in your language. Have you tried to search online?
  • #6,362
  • Mar 1, 2012 8:59am Mar 1, 2012 8:59am
Quoting mustangzs
What is your native language and maybe we can find someone to help you. Also, I'm sure someone has posted it on Google in your language. Have you tried to search online?
Spanish. I donīt google it. Only use google translator. You are right, Iīll try to find what means "fail at pivot" in a spanish forex page(there arenīt good ones). If cannot find it Iīll ask again. Thanks a lot.
Regards from Uruguay.
Alvaro
  • #6,363
  • Mar 1, 2012 9:29am Mar 1, 2012 9:29am
Quoting the-game
fail of pivot = price goes to pivot only to reverse again

sell = price going up to a pivot then reversing

buy = price going down to a pivot then reversing
kbeza, here's the definition of "fail at pivot" made by the-game in post #54
  • #6,364
  • Mar 1, 2012 10:38am Mar 1, 2012 10:38am
Quoting Koopa
kbeza, here's the definition of "fail at pivot" made by the-game in post #54
Thanks. I read it. But my question is, has the candle to close above pivot (and M pivots, too?) and then reverse for a buy or it isnīt necessary that the candle close above for taking it as a valid fail? Very sorry for my English. Thanks again.
  • #6,365
  • Mar 2, 2012 1:50am Mar 2, 2012 1:50am

http://www.youtube.com/watch?v=1v8MWXQ0Cfw&feature=youtu.be
  • #6,366
  • Mar 2, 2012 1:57am Mar 2, 2012 1:57am


http://www.youtube.com/watch?v=gfrNvlCPFuQ&feature=youtu.be
  • #6,367
  • Edited 3:15am Mar 2, 2012 2:59am | Edited 3:15am
Well people hate to tell you.....thats as LIVE as you can get...Real LIVE VIDEO....so Blah blah blah...blah? BALH! lol

And who keeps hearing NOT TO TRADE on Fridays?.....Seems alot of my posts with KILLER trades happen on FRIDAYS......
  • #6,368
  • Edited 5:02am Mar 2, 2012 4:46am | Edited 5:02am
D1 is trending up..has been....H4 is down...Hit the lower range for me to start looking for longs to get back into the BIG PICTURE....This is why Money Management is important and should be used wisely! Even if this trade goes to SL i am not risking any of my profits i have made on EurUsd or GbpUsd. Only risk a % of your profits not the whole gain....If im right its going to pay BIG time..Because i am looking at the BIG Picture! If im wrong...OH WELL...my gains are protected and i still come out ahead with positive gains for the day.

http://www.youtube.com/watch?v=-ooXR9Xu2XI&feature=youtu.be
  • #6,369
  • Mar 2, 2012 9:25am Mar 2, 2012 9:25am
Quoting kbeza
Thanks. I read it. But my question is, has the candle to close above pivot (and M pivots, too?) and then reverse for a buy or it isnīt necessary that the candle close above for taking it as a valid fail? Very sorry for my English. Thanks again.
Do not worry too much about pivots. Even Dredding has said you can trade this system without pivots if you want. On your chart the price may cross the pivot line and come back (which is a fail at pivot) but on someone else's it may never cross the line (fail at pivot). Or it may stop half way between 2 of your pivot lines and reverse (not a fail at pivot) but be a perfect fail on someone else's chart. If everyone used the same pivots based on 000 GMT, then it would be very significant. If you can look back on your chart to previous days and see your pivot lines the way they were then, see if price reacts there, stops or reverses. If so, then it may be significant on your chart; if not, then don't use the pivots. Look more for Support and Resistance zones and Big Round Numbers.
  • #6,370
  • Edited 10:51am Mar 3, 2012 9:20am | Edited 10:51am
Quoting Dredding82
Well people hate to tell you.....thats as LIVE as you can get...Real LIVE VIDEO....so Blah blah blah...blah? BALH! lol
Hmmmmmmmm, not wanting to stir up the hornets nest but isn't the EURUSD like 4 hours into the trade and GBPUSD at least 30 mins?

I'm not saying you should post live trades as then people would just copy your trades and not improve themselves but just wondering whether it would be more beneficial to your followers to show the trades as you take them then showing the end result..... but only posting them the following day or something so they cant copy. Just a thought.
  • #6,371
  • Mar 3, 2012 9:46am Mar 3, 2012 9:46am
Quoting tritan
Hmmmmmmmm, not wanting to stir up the hornets nest but isn't the EURUSD like 4 hours into the trade and GBPUSD at least 30 mins?
Do i get paid to post trades or try and help people? NO....And i do not post trades right as i take them for a reason...So people can not copy my trades and some of them are taken by an EA i use.....Besides that...I trade more then just 2 pairs and forex. So i make the videos as i have time.....not just because someone wants me to.

But if you want to start being a dick...you can go on ignore also...
  • #6,372
  • Mar 3, 2012 11:48pm Mar 3, 2012 11:48pm
i do follow your trade a lot sure you did a very good job with that system but pl be a gentlemen ,too put people on ignore list or used rude words,do not solved your problem,keep smiling make o lot of pips then be happy LARY
  • #6,373
  • Mar 5, 2012 11:52am Mar 5, 2012 11:52am
Hey Dredd,

How did you do today? it was whipsaw day today.
-any tips on how to trade days like this?
-or any thing that makes you stay out before hand?

Ps; keep up the good work. doubled the account, although days like today threaten to take me back to 9-5.
  • #6,374
  • Mar 5, 2012 1:30pm Mar 5, 2012 1:30pm
Sell entry after fail at pivot.
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  • #6,375
  • Edited 5:12am Mar 6, 2012 12:50am | Edited 5:12am
Quoting kevguy
Hey Dredd,

How did you do today? it was whipsaw day today.
-any tips on how to trade days like this?
-or any thing that makes you stay out before hand?

Ps; keep up the good work. doubled the account, although days like today threaten to take me back to 9-5.
You saw a whipsaw...from Fridays action i knew there would have to be some kind of good pullback in price for the current trend to continue on most pairs. Not all pairs had good pullbacks...about half of the major pairs kept with the trend from Friday and just kept going the others had a pullback...which is why trading more then just a few pairs comes in handy. The winners on the trending pairs that did not have a pullback more then paid for the losers that had pullbacks, only of course if you applied good money management to your trading.

After a nice move in price you should almost always wait for a pullback in price before looking to get back into a trending pair...or use the BOLOSO which is just a super simple breakout system that will confirm a pullback has happened and trend should continue.

Thats killer you have doubled your account. Make sure not to get greedy now and imply proper money management to your trading capital. The feeling of making returns is amazing but many only see the gains and do not remember about the risk and possible loss that could happen because they only have making more money in their mind.

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  • #6,376
  • Mar 6, 2012 1:48am Mar 6, 2012 1:48am
Quoting iwan73
Sell entry after fail at pivot.

I am stoped out over last semaphore
  • #6,377
  • Edited 5:05am Mar 6, 2012 4:26am | Edited 5:05am
Quoting iwan73
I am stoped out over last semaphore
Did you add spread to your SL or spread x 2. If stopped out there why did you not enter the next signal for short? EMOTIONS! if you would have entered the next short after your loss you would have made your loss back and also made profits! DO NOT TRADE ON EMOTIONS!

The first yellow line to the left is your trade 21 pip SL (or 1%)...2 hours before the US markets close....Which means what...NO ACTION....

The second yellow line is the next trade setup 15 pip SL (or 1%). ADR TP level is 95 pips away from your entry. Which could have a possible Risk:Reward ratio of 1 : 6.3 .... Which would have made your loss back 21 pips (1%) and PROFITS of 74 pips (5.3%). This all depends on the money management applied and your compounding rate applied (Per Trade/Daily/Weekly/Monthly).
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  • #6,378
  • Mar 6, 2012 6:09am Mar 6, 2012 6:09am
Quoting Dredding82
If stopped out there why did you not enter the next signal for short?
Answer is very simple. Signal candle was closed at 4 AM. It is not possible to watch charts all night and go to work in the morning. Maybe some day when i become profitable with your great system i dont have to get up 6 am to go to work. But since i am poor trader on longer TF's i cant loose job.
I have some sucess on scalping M1 charts, but i dont want to sit on the screen all my life. Thats why i try to trade your system on M15 and mostly H1 TF to have time to enjoy life and family.
  • #6,379
  • Mar 6, 2012 6:30am Mar 6, 2012 6:30am
Quoting iwan73
Answer is very simple. Signal candle was closed at 4 AM. It is not possible to watch charts all night and go to work in the morning. Maybe some day when i become profitable with your great system i dont have to get up 6 am to go to work. But since i am poor trader on longer TF's i cant loose job.
I have some sucess on scalping M1 charts, but i dont want to sit on the screen all my life. Thats why i try to trade your system on M15 and mostly H1 TF to have time to enjoy life and family.
If you are missing possible setups then you are on the wrong TF..move to the D1..yes making gains will take longer...but then you will not miss good setups due to not being able to trade because of work or other things.

I know it sucks to see people making a killing on the lower TFs and everyone wants it...but the truth is if you can not watch that chart for every candle then it is pointless to trade that TF. If you are making profits that is great but think of all the loss you could have made back if you were trading the proper TF for the time you have to trade....
  • #6,380
  • Mar 7, 2012 5:23am Mar 7, 2012 5:23am
Short entry.
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