Price Action Trading with Indicators! The Freebie System

I just want to remind everyone that is viewing this thread that it has slowed down a little bit because we've moved into the chat room. Don't want anyone to be discouraged and don't want newbies to think that this is just some other thread that has gone the way of the Dodo bird. Come join us in the chat room. Love to get more people involved.

I took a few days to read through your thread. I then downloaded the indicators and have since entered 5 trades. All were winners! I must say that this is one of the best, and easiest to follow, systems I have ever run across. I have been trading, both live and demo, for several years now and this system is well....awesome! Thanks for all of your hard work putting this system together, and most of all for sharing it for FREE!!!

D1 in obvious downtrend so not to hassitate to enter Short.

Uch S entry. SL moved to BE

A few trades from this morning. All of them have hit 1:1 and I have closed 2/3 of the lots on them. I'm not going to move to B/E quite yet, but even if it ends up hitting my stop, I will still be in the plus for the day.

Im still uig this strategy .. have been for a long time now

Still use it on 5min and enter on a 123 ,,its a good solid system that gives good TP with great RR

p

2 x diversity entries 1 x 123 count

only 3 trades today from 9 swaps watched

P

good to see you posting again Paulus!

definitely have read many of your examples, admire your systematic approach

Thanks Paulus! I see pivot area fails are significant.

Hey Paulus, nice to see you here.

Can you detailed your divegence criteria ??? And other that you use...

Hi Divergence is my strongest entry using the Dred system
Divergence shows up strength and weakness but like all my trading I try to make it mechanical

I have followed 9 swaps with this system for a long time now .. I may only get 2 trades some days 5 or 6 the others but they seem to be very strong entries

3 from Friday..I set my SL 5 pips above the last swing hi so that will be my entry candle or the last swing wave

I use the MACD_4CZ indicator for my divergence as It gives me colours on bar size change and aids in my entry

A simple rule makes it work for me that is posted on the chart

The 3 trades made around 25% ROC
P

ROC = Rate Of Change???

How does the Rate Of Change, relate to your strategy?

return on account

.....

P

Duh.... over thought that one

Trades open and closed today so far

P

Closed USDCAD = +10% ROC

Total today +8%+10% = + 18% ROC

Awesome trading Paulus. Thanks for sharing your insight on divergence setups.

NP thanks

Closed remaining positions for + 17% ROC

Total= +35% ROC

P

Paulus, with your screenshots I can see that you go short even if there is a bullish divergence on MACD.

Do you get better results trading like this than by just pulling the trigger when the divergence is in favor of the trade direction ?

Do you have any idea of the Win/Loss ratio of this system ?

Thank you for your friendly spirit.

J.O

Hi

I see any divergence as a sign in the market of strength or weakness in price

Couple that will a break in a pivot level and we have enough edge to take the trade

We risk 5%
We have an edge
We place the SL a few pips above the last swing hi or lo
We do not move our stop
We have a defined TP

I see only 2 outcomes

I win
I lose

The above gives me a more than fair chance of winning

My win rate is around 70% and I use spread betting firms to place the actual trades at a nominated sterling figure per pip

This way a 5% loss USDJPY will be the same as a 5% loss on EURUSD

Spread betting companies will only go up to a maximum value per pip..for example £100 per pip so you need 2 or 3 so you can share the load if required

here is a list of the top 10

http://www.money.co.uk/financial-spread-betting.htm




Very easy with a standard fixed pip value across 9 swaps

P