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Price Action Trading with Indicators! The Freebie System

  • #6,481
  • May 22, 2012 5:28pm May 22, 2012 5:28pm
Quoting Dredding82

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.
.
Understood. Thanks again for clearing that up and all the best for the future.
Passion, patience, persistence... around my Pockets
  • #6,482
  • May 23, 2012 10:57am May 23, 2012 10:57am
Quoting DaGrindsmith
Understood. Thanks again for clearing that up and all the best for the future.

Here are just 2 of the many trades i am in .....most are RISK FREE TRADES....

When it hits a 1:1 i close a % of my lots and let it run. Once it gets to a higher R:R i will close another % of my lots. Once that happens its a risk free trade. You have to think about your lots to close and your R:R to make sure you keep enough on the table to be able to let it run and bank some major pips with the trend you are in. Once you feel it has made a new high/low that will hold that is below or above you can move your SL to below the enter....which you really do not have to do since even if the trades goes back to your SL now....YOU STILL MAKE MONEY! So moving your SL is not necessary.

P.S. Would have uploaded these earlier but fell asleep...
Attached Image(s) (click to enlarge)
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  • #6,483
  • May 23, 2012 5:21pm May 23, 2012 5:21pm
Noted. I assume I have to use my descretion when interms of deciding how much % of a trade to close relative to my risk, possible range etc.

What about resistence and support created by market turning points. E.g. Where price turns is considered resistence until its broken where it then becomes support and vice versa, would a fail at that R/S level be a valid signal?

I attached examples of two trades I saw today where that was possible but I didn't take them, to check first if the theory is valid. The thick blue lines are the lines I drew in based on a previous recent r/s level made by price turning.

P.S. I see what you meant by the 15m being fast and slow enough when trading with the trend
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: resistance1.gif Size: 42 KB
Passion, patience, persistence... around my Pockets
  • #6,484
  • May 23, 2012 5:40pm May 23, 2012 5:40pm
The bounce just after the support I marked I traded until s2, very nice pips
Attached Image (click to enlarge)
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Passion, patience, persistence... around my Pockets
  • #6,485
  • May 25, 2012 4:04am May 25, 2012 4:04am
Quoting DaGrindsmith
Noted. I assume I have to use my descretion when interms of deciding how much % of a trade to close relative to my risk, possible range etc.

What about resistence and support created by market turning points. E.g. Where price turns is considered resistence until its broken where it then becomes support and vice versa, would a fail at that R/S level be a valid signal?

I attached examples of two trades I saw today where that was possible but I didn't take them, to check first if the theory is valid. The thick blue lines are the lines I drew...

I think that is a question you can answer for yourself......
  • #6,486
  • May 25, 2012 6:08am May 25, 2012 6:08am
Figured I join in on the fun of posting pics of trades too..this is only one I took yesterday.
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  • #6,487
  • May 28, 2012 3:27am May 28, 2012 3:27am
Short entry. Trade failed on SL level
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  • #6,488
  • Jun 1, 2012 2:55pm Jun 1, 2012 2:55pm
Sth strange happened to MTF HA indicator.
My broker forced me to download new version of MT4 terminal (now it is 427 and older versions cant connect to broker servers) and since then i have 5 rows of dots . The lowest row has reversed colours to highest one.
Anybody has the same problem? What is a solution?
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  • #6,489
  • Jun 1, 2012 3:45pm Jun 1, 2012 3:45pm
you need to roll back to an earlier version of MT4.

ess you should not use live update until u know buys sorted out

you need to copy the terminal file from an earlier stable version and replace the one you have

http://seekingalpha.com/instablog/2052391-alexander-collins/449321-2-easy-to-do-steps-to-roll-back-mt4-platform-to-previous-version
" Dont wait for your boat to come in ..... swim out and meet it"
  • #6,490
  • Jun 2, 2012 3:27am Jun 2, 2012 3:27am
Quoting speedtrip
you need to roll back to an earlier version of MT4.

ess you should not use live update until u know buys sorted out

you need to copy the terminal file from an earlier stable version and replace the one you have

http://seekingalpha.com/instablog/2052391-alexander-collins/449321-2-easy-to-do-steps-to-roll-back-mt4-platform-to-previous-version
If you revert to an earlier terminal then you won't be able to connect to any metaquotes based servers.
  • #6,491
  • Jun 9, 2012 6:54am Jun 9, 2012 6:54am
Quoting iwan73
Short entry. Trade failed on SL level

Your trade did not follow the rules.

If you thought the trade was going to keep going down, then you should have placed a sell stop just below your number 3 semafor. OR wait until the price meets all of the rules.
  • #6,492
  • Edited 1:41pm Jun 19, 2012 11:06am | Edited 1:41pm
I hardly post anything anywhere (aren't I mean) but I came across this thread recently and am very grateful I did. Great system. Been using it for a few days with my own pivot/fib levels and below are images of the trades I took today.

I think one needs a little bit of discrection but even if not or you get the trend direction wrong a lot of the time I don't see how you can lose.... provided the money management / R:Rs is sound. Very important...

I also think that the stop should be "reasonable" when entering a trade. No point in going in on a massive candle and therefore having a massive stop with little chance of getting to a decent level or profit...

As far as pivot/fib levels are concerned I don't think it really matters what you use provided you stick with what you have and don't chop and change.

I used a 5 minute TF today as the markets were a bit rangy and it worked a treat. BTW the grey horizontal lines are ten pip increments.

I haven't always had winners but overall I'm very nicely up

MANY thanks Dredding82. This has given me a different perspective on the way I trade.
Attached Image(s) (click to enlarge)
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  • #6,493
  • Jun 26, 2012 8:53am Jun 26, 2012 8:53am
Hi Dredding,

First of all i would like to thank you for this super simple trading system. I am new to forex and my friend introduce me to your system and i find it really helping.

I have done 6 trades now and 5 came out profitable, though small profits. DON'T BE GREEDY!!!

I am still learning and i hope that i could post up some of my doubtful trades to get your comments.

I have attached a trade i made and hope can get some coments from you. I noted that EURUSD is in a downtrend (base on the EMAs). Please do comment if this is a valid trade.

Thank you very very much
Attached Image (click to enlarge)
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  • #6,494
  • Jun 27, 2012 10:22am Jun 27, 2012 10:22am
Hi,

is this a short entry?

Thanks.
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  • #6,495
  • Jun 27, 2012 2:58pm Jun 27, 2012 2:58pm
hello traders!
i am what u can call a newbie to forex , can anybody pls help , been trying to get my platform look like what u guys have got here.
can anyone direct me to the page or rather the file pls.
thanks
Enter Signature
  • #6,496
  • Jun 28, 2012 3:43am Jun 28, 2012 3:43am
A beer for the dedicated trader. Enjoy, cause I did!

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Damn The Torpedoes, Full Speed Ahead!
  • #6,497
  • Jun 28, 2012 6:14am Jun 28, 2012 6:14am
Quoting kbforex
hello traders!
i am what u can call a newbie to forex , can anybody pls help , been trying to get my platform look like what u guys have got here.
can anyone direct me to the page or rather the file pls.
thanks
Did you read the first post????
  • #6,498
  • Jun 28, 2012 6:44am Jun 28, 2012 6:44am
Quoting mustangzs
Did you read the first post????
hello mustangz, thanks for asking, YES, i did
my chart looks like this
Attached Image (click to enlarge)
Click to Enlarge Name: yes.gif Size: 18 KB
Enter Signature
  • #6,499
  • Jun 29, 2012 5:19pm Jun 29, 2012 5:19pm
Quoting kbforex
hello mustangz, thanks for asking, YES, i did
my chart looks like this
Try clearing out all your templates and custom indicators folder and try copying everything from the .zip file over again. Please note that as per POST #1 that a trend indicator is not a part of the template (unless it's been updated and I didn't know). Trend is up to you. Most seem happy using the multi-timeframe HA indicator which you'll be able to find by clicking on the paper clip at the top right of the forum.
  • #6,500
  • Jul 2, 2012 10:48am Jul 2, 2012 10:48am
hi all

how it is traded, depending on the trend TF:

Local trend

Attached Image (click to enlarge)
Click to Enlarge Name: eu local trend.gif Size: 38 KB


But h4 trend
Attached Image (click to enlarge)
Click to Enlarge Name: eu h4 trend.gif Size: 52 KB


But D1 trend
Attached Image (click to enlarge)
Click to Enlarge Name: eu d1 trend.gif Size: 43 KB


Dredding82, how you combine trends on the different TF or you trade, for example, for h1 only D1 trend?

(sorry,curve google translation)
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