Price Action Trading with Indicators! The Freebie System

is it possible to show us your history of your trade??

I started reading your thread and before I got to page 20 I found myself trading your strategy and making good progress in collecting PIPS. Great strategy !!!! Easy to follow , Easy to trade .

Dredding82 you are the MAN !!!!!

I won't ask to many questions until I've read through the post (like you've pointed out, "Read on, your questions may have been answered already"

Ok people! I highly suggest you read through the entire thread. Try it on demo and feel it out. I've been trading this live for a while now. (have also read udine's thread)

This week has been green pips all the way! No losses this week. You will have some losses as nothing is full proof! I have had the opportunity to log in the chat room one day this week,(hubby took my internet surfing laptop so couldn't log in the rest of the week) Udine, Mustangz were online trading, sharing jokes, they are wonderful guys and they keep you from being bored while trading.

The rules are simple and really idiot proof.

Forexdude1(dudette)

First time using this system after reading 26 pages over the weekend. Will continue reading and practice entry will live setup/trade to be posted on the forum.

Enter long for USD/JPY

1) Green Bar
2) Stoch Cross Up
3) Appearance at 50% fibo from previous up swing
4) ZZ Semafar formed at 79.43

TP: OPEN
SL:79.40

Why TP is open? The weekly chart look very promising with ZZ Semafar already formed and we MIGHT get a green candle and stoch cross by the end of the week.

* Dredding82 - did i miss any of the indicator in my chart? I have PM you, not sure whether you receive? My email is [email protected]

Buy at 0.80272
SL: 0.8010 (below the ZZ and 61.6% Fibo level
TP: 0.8045

Short entry

Once again short

This is my long entry on U/Cad. I have a loss. Hmmmm, i think all conditions were met.
What do you think about it?

market already reached upper ADR?, looks like the previous "1" semaphor would've been a good entry

All conditions were met but the RANGE....

The TREND was up so you were trading in the right direction...but the possible range high was almost already met...So you wait for a pull back.

Also the time of your trade was in the middle of the London session....The pair was USD CAD....none of the US or Canadian banks were open...So like i have said before...its best to trade a pair when at least one of the banks are open....

Here is the same chart with other possbile entries into the trade which would have worked out and you could have got your loss back....but im sure EMOTIONS were playing with you so once you made that loss you stopped trading that pair instead of looking at a higher TF...like the H1 to find better S&R levels to watch for.

As you can see there was a total of 6 total trades that could have been taken...only 1 would have been a loser...Which was the one close to the range high, your money could have been made back if you will not trade on EMOTIONS..

You can also see a long position i entered yesterday off of the 5th possible setup(US Banks were open) which is in profit now .....RISK REDUCED and SL moved....RISK FREE TRADE!

http://www.youtube.com/watch?v=wU1pD4xPe2M

After these nice trends("Ride the trend to the end"!)....its best to remember this song for the next week or so.


http://www.youtube.com/watch?v=LiE1VgWdcQM

Long entry

Hi guys. Sheesh I've been so scared to post 'cause of the way Dredding bites heads off in this thread but I'm hoping I'm safe with this post.

Any way I've been reading this thread over and over for some months now, demo trading into my third month and I must say considering all the mistakes I've made, I'm doing quite well, up 113% and going live in two weeks. I have to say this to who ever is going to read the thread after me who's new to trading, this system works!! take the time to go through the thread, learn the rules, understand what is meant with every word, and you'll be on your way to riches, demo demo demo till you've doubled or trippled your account (I think Udine mentioned this in the chatroom last time I was there). I haven't gone live with this strategy but I'm certain i'll never blow another account again (2 gone, on my 3rd), atleast not with this system. My slogan with this one is

READY, FIRE!!! AIM

Don't miss good trades out of fear, the newbies second biggest mistake (I know, I am one)

Just some questions Dred if you don't mind, please don't bite my head off rather ignore me then I'll know they were stupid questions...

I've had the most success on the smaller time frames with a 1 : 1 RR, namely the 5 minute and 15 minute charts. on the small time frames you some times hit some choppy spots where the semafor throws up more dots than usual, on 5 and 15 I circled them. Is there a way to tell when its safe to take the trade (as in choppiness is over) or do you take all the trades anyway and rely on MM to save you, or do you jump into a higher TF? Just your thoughts on whether or not the 5 minutes is good to trade (it gives me the earliest setups and the most wins so far) or should I stick to 15m plus.

Otherwise I have to say, the BEST, (NO SUCKING UP) strategy I've ever come across. I've tried tons, progressed with some and in the long term came out losing. Created my own simple strategies with fairly good wins but not enough long term wins to pay the bills ultimately, and this is nothing like the others, it even gives me earlier setups than my system (based on camarilla) does with less risk on my own system (I was about to quit it anyway, almost quit trading too, even sent a cv to mcdee's).

Beeeeg thumbs up to Dred and the guys in the chatroom and the other guys who posted on this thread helping us non question askers learn, and goodluck to my fellow FreebieNewbians. Thanks for saving my trading life!

Post the same chart with a line for London Open.....

That would be the Turquoise line. The choppiness starts around then

Now draw a line 1 hour before and 1 hour after open......I think you will see the point if you have not yet....

Yeah I thought I picked it up. Thanks Dred!!

Now that you get that...the answer to the rest of your question(s)....

Most times i take every signal i see that meets my rules for entry mostly with the trend.
But sometimes while trading on the M15 the trend might be up on the H4 but down on the D1...so i will take short trades even if the H4 trend is up only because the higher TF says its down. I want Daily,Weekly & Monthly profits. Anything i make intraday trading is just extra money i get to spend any way i wish.
I shoot for a higher R:R then 1:1 when i am with the trend...which will always make your loss back if you keep with the system and have no fear (emotions) while trading. If you are using PROPER MONEY MANGEMENT you should be trading way bigger lots then the smallest lot possible, With doing so you can close a % of your trade that is in profit instead of closing the whole trade and missing out on A LOT OF PIPS....Which is how you "Let your winners run" and "Reduce risk" that could become "RISK FREE TRADES" were none of your capital is at risk anymore...But you are still making profits.

Will it work on the M5....YUPS....as i am sure you have seen your self and i am sure other members have like Paulus has shown countless examples of his gains using it. But i just do not feel like waiting at my monitors and checking charts every 5 minutes for possible setups.....M15 is slow enough i do not have to chase every pip and fast enough to still make a killing intraday.

http://www.youtube.com/watch?v=iVkmr8wk9N8