Price Action with Indicators! ~The Freebie Newbie BOLOSO System~ | Page 24 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Please suggest a simple & effective Method/System of "Trading System" Forum to newbie 182 replies

Freebie 1 min trading method 1,227 replies

Newbie asking a newbie interest rate question: 1 reply

Help adding a filter to the Freebie Indicator 3 replies

evaluate a newbie's system 3 replies

Attachments: Price Action with Indicators! ~The Freebie Newbie BOLOSO System~
Exit Attachments

Price Action with Indicators! ~The Freebie Newbie BOLOSO System~

  • #461
  • Edited 3:25pm Feb 5, 2014 2:06am | Edited 3:25pm
I am still in the GBP/AUD trade. It's currently down 67 pips.
The price seems to have formed a box in which it's ranging. It's definitely not trending. (withing the m15 timeframe)

I hope that price continues with the trend: downwards, after the range has been broken.
Note that the price bounced right off my SL. I placed it a little higher than that or I would have been stopped.
Shows the power of BOLOSO.

Any comments on this trade?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpaudh1cor.png Size: 64 KB
Your authority is not recognized in fort Pipass.
  • #462
  • Feb 5, 2014 6:43pm Feb 5, 2014 6:43pm
The GBP/AUD is now +66 pips. I closed of 20% of the order and locked some pips.
The SL is now moved to the Sell price, so if things turn sour I can get out with a small profit. (No such thing as small profit.)

I hope someone else is active in this thread.
Your authority is not recognized in fort Pipass.
  • #463
  • Edited 1:15am Feb 6, 2014 12:41am | Edited 1:15am
Still waiting for the EURJPY to trigger. 2 Dojis have been formed (the very last 2 candles, one of them is actually a hammer I think. I need to study the candle stick patterns again). I checked and the volume was high. So I'm expecting a breakout soon! Hope it breaks towards downwards. But if it does not, no worries, I won't be in the trade.

Note: Don't worry about the Lawgirl Indy ( The little arrows with the currency's names on them; top right). They don't really work for me. Might stop using it.

Any thoughts on this trade?
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpydaily.png Size: 34 KB
Your authority is not recognized in fort Pipass.
  • #464
  • Edited 8:09am Feb 6, 2014 1:16am | Edited 8:09am
GBP/AUD:
I'm going to bed now, and it's up 63 pips now. When will I get my full 104 pips?! This trade's been on for two nights now!

Update:
Trade completed at 104pips! Nice!
Your authority is not recognized in fort Pipass.
  • #465
  • Feb 6, 2014 10:56am Feb 6, 2014 10:56am
New trade.
The Reward:Risk is less than 1. This would freak many people out.
http://en.wikipedia.org/wiki/Expected_value

Remember,
Value = % Odds for x Reward = % Odd against x Loss

Since this is a high probability trade, it doesn't really matter.
I might be wrong (it might not be a high probability trade), but again it's a demo.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audcadh1quickie.png Size: 27 KB
Click to Enlarge Name: audcadm15.png Size: 30 KB
Your authority is not recognized in fort Pipass.
  • #466
  • Feb 6, 2014 9:38pm Feb 6, 2014 9:38pm
I'm out of this trade (EUR/JPY). Look at the price action:
The price formed a flag and shot upwards after the breakout. Look at the blue lines.
Textbook breakout, but as a newbie I did not see it until it was too late!

Screw you market, I'm getting out.
Well I'm not in the market anyway. I'm cancelling my pending order.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpym30.png Size: 48 KB
Your authority is not recognized in fort Pipass.
  • #467
  • Feb 7, 2014 1:45am Feb 7, 2014 1:45am
Quoting Dr. Krieger
I checked and the volume was high. So I'm expecting a breakout soon! Hope it breaks towards downwards.
This is Forex....there is no central broker...bank..blah blah blah...Volume...is USELESS in Forex....Anyone who says different is just retarded...unless they have all the major banks giving them a direct feed....

If you need a quick way to see when a "price action"...."candle pattern" happens...blah blah blah....Please refer to my other thread "Freebie Newbie"...

You need to set your trades..then WALK AWAY! stop sitting in front of the screen or log on to your platform every hour or every other hour....you only need to do that if you are a day trader...I do not know your level of experience in the markets....but start on the D1 and as your level grows move down (or up) till you find your preferred time frame...one that does not seem to move too fast or slow..in your own eyes...but you have to be honest...not think about the profits you could be making if you were only to trade a lower time and enter more positions.
  • #468
  • Feb 7, 2014 1:50am Feb 7, 2014 1:50am
Quoting Dr. Krieger
Still waiting for the EURJPY to trigger. 2 Dojis have been formed (the very last 2 candles, one of them is actually a hammer I think. I need to study the candle stick patterns again). I checked and the volume was high. So I'm expecting a breakout soon! Hope it breaks towards downwards. But if it does not, no worries, I won't be in the trade. Note: Don't worry about the Lawgirl Indy ( The little arrows with the currency's names on them; top right). They don't really work for me. Might stop using it. Any thoughts on this trade? {image}

Please refer to Post #1....there is a GREAT example of the setups to look for....
  • #469
  • Edited 8:51am Feb 7, 2014 8:30am | Edited 8:51am
Quoting Dredding82
{quote} This is Forex....there is no central broker...bank..blah blah blah...Volume...is USELESS in Forex....Anyone who says different is just retarded...unless they have all the major banks giving them a direct feed.... If you need a quick way to see when a "price action"...."candle pattern" happens...blah blah blah....Please refer to my other thread "Freebie Newbie"... You need to set your trades..then WALK AWAY! stop sitting in front of the screen or log on to your platform every hour or every other hour....you only need to do that if you are...
Holy shit, I didn't think of that. Now I understand yeah. Thank You so much for clearing that up.
Your authority is not recognized in fort Pipass.
  • #470
  • Feb 7, 2014 1:47pm Feb 7, 2014 1:47pm
A BOLOSO setup:

Ignore the "ranging", and the lines, they are notes for me. Notice the ZZ semafor!
Attached Image (click to enlarge)
Click to Enlarge Name: boloso setup.png Size: 43 KB
Your authority is not recognized in fort Pipass.
  • #471
  • Feb 11, 2014 10:01am Feb 11, 2014 10:01am
Quoting Dr. Krieger
A BOLOSO setup: Ignore the "ranging", and the lines, they are notes for me. Notice the ZZ semafor! {image}
Update on that trade:
TP for 70 pips! Profit 70pips!
Perfect Monday!
Your authority is not recognized in fort Pipass.
  • #472
  • Edited 11:21pm Feb 17, 2014 9:51am | Edited 11:21pm
Unfortunately I was not trading last week, which sucks, because last week must have made many a trader rich!
My poorly trained eyes do not spot any good trade so far, this week.

Edit:
OK, so I made a quick 50 on the GBP/JPY and my AUD/CAD never triggered.
Your authority is not recognized in fort Pipass.
  • #473
  • Feb 18, 2014 9:41am Feb 18, 2014 9:41am
GBP/JPY seems to be a money making train right now. Great BOLOSO setups on many timeframes. Let's get on the pip-pip train.
Your authority is not recognized in fort Pipass.
  • #474
  • Edited Feb 19, 2014 3:10pm Feb 18, 2014 8:58pm | Edited Feb 19, 2014 3:10pm
Here we go!

Edit: Closed out for -47 pips!
If I had chosen to enter a little higher the order would not have been taken, lesson learned: Follow the system closely. I put the order near the wrong dot. My TP should have been my enter. Oh, well!
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpym30trade.png Size: 47 KB
Your authority is not recognized in fort Pipass.
  • #475
  • Feb 26, 2014 1:31pm Feb 26, 2014 1:31pm
Post your trades people!
Your authority is not recognized in fort Pipass.
  • #476
  • Edited 5:18pm Mar 4, 2014 11:08am | Edited 5:18pm
Cheers Dredding,
Now I think I get it!

Let's see where this goes.
Attached Image (click to enlarge)
Click to Enlarge Name: perfecttrade.png Size: 154 KB
Your authority is not recognized in fort Pipass.
  • #477
  • Edited 1:35pm Mar 4, 2014 1:24pm | Edited 1:35pm
Quoting Dr. Krieger
Cheer Dredding, Now I think I get it! Let's see where this goes. {image}
I take it you have found.....

Rule #1
Rule #2
and.... Rule #3


Now you just need to know the ADR (Average Daily Range)...which if trading on a higher TF...use the AWR (Average Weekly Range), AMR (Average Monthly Range)or AYR (Average Yearly Range)....and use those or a pivot line...or a round number close to it as targets to TP or exit points in which you close a % of the current position....and blah blah blah...lol

Anyways....your on the right path now

P.S. If you change your setting to the pivot indicator to a higher period....instead of 1440 then the lines will expand and show the monthly pivots on the D1 chart
  • #478
  • Edited 2:20pm Mar 5, 2014 1:23pm | Edited 2:20pm
Quoting Dredding82
{quote} I take it you have found..... Rule #1 Rule #2 and.... Rule #3 Now you just need to know the ADR (Average Daily Range)...which if trading on a higher TF...use the AWR (Average Weekly Range), AMR (Average Monthly Range)or AYR (Average Yearly Range)....and use those or a pivot line...or a round number close to it as targets to TP or exit points in which you close a % of the current position....and blah blah blah...lol Anyways....your on the right path now P.S. If you change your setting to the pivot indicator to a higher...
Hey thanks. I guess I'm on my way to the 1% now. I'm not in a big hurry. I'll be demoing for some more months.
Thanks for posting your knowledge! As long as you go with the trend hard to lose money (with good MM) with this system.
Thank you so much for making this thread. I'm also glad this is the first system I used.
Just need a long ass trend like EUR USD in the past and maybe I can retire too!
Alright, I am studying AWR and I got a MQ4 from Babypips. Learning to use it.

Depending on the success rate I think it's possible to go up to 5% per trade. I'll be posting more trades soon.

Before anyone asks about ATR (ADR):
Quoting merlin
{quote} ATR is more an indicator that helps you set your postion size, stop loss, and profit target. its not really used very much for entry points. the way you use it for your stoploss and profit target is that you take some multiple of ATR. for instance, you might use a 3x multiple for your stoploss, and a 6x multiple for your profit target. if the ATR on EURUSD hourly bars is at 0.0021, that makes your stoploss 63 pips, and your profit target 126 pips. btw, before using the ATR you must understand what it is. if you are looking at daily bars, the ATR is the average distance covered by the price in a single day. thats why its so useful for setting stop and profit targets, because tells what size move is "normal". hope this helps!
Your authority is not recognized in fort Pipass.
  • #479
  • Edited 5:36pm Mar 10, 2014 12:25pm | Edited 5:36pm
A new BOLOSO setup!
GBP/AUD Daily
Put your order on the last (2) dot. Right where it says 0.0.
#1 and #2 checked!
#3 is up to you!
Note: My entry isn't perfect.
Also, you might want to wait and see if the price goes upward before getting in this trade, but we are in an uptrend, so you may skip that; your discretion.
Not clear? Ask me questions!
Attached Image (click to enlarge)
Click to Enlarge Name: gbpauddailybosoloperfect.png Size: 39 KB
Your authority is not recognized in fort Pipass.
  • #480
  • Mar 10, 2014 8:06pm Mar 10, 2014 8:06pm
Quoting Dr. Krieger
A new BOLOSO setup! GBP/AUD Daily Put your order on the last (2) dot. Right where it says 0.0. #1 and #2 checked! #3 is up to you! Note: My entry isn't perfect. Also, you might want to wait and see if the price goes upward before getting in this trade, but we are in an uptrend, so you may skip that; your discretion. Not clear? Ask me questions! {image}
Added pictures to i guess make rules clearer lol
**NOTE: Nothing wrong with the setup if you still believe the pair is in an uptrend.
But if the last low is broken, a signal for a trend reversal could have occurred.

But also because as one goes UP (GbpAud) the other goes DOWN (AudUsd)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpauddaily.png Size: 51 KB
Click to Enlarge Name: audusddaily.png Size: 45 KB
0 traders viewing now