Price Action Trading with Indicators! The Freebie System

I guess the lesson I can take from that trade I made is that even if you are the wrong side of the main trend, as long as you use good MM then you wont get hurt!

Hi Dredding82

New to Forex, Just started reading the thread, sounds great, will look to trade your style and will post trades.

Many thanks for all your time on this thread, helping people to make profit from this beast known as forex.

D

Wanted to post charts from 2 trades I took today which illustrate the power of the Daily range lines. First is a 1H UJ trade which went from the daily range high to daily range low. Entry shown at white arrow, stop over last semaphore - R:R 1:2.

The second is a GJ 1H, again taken at the upper Daily range line (stop again above semaphore) and which travelled to the daily low line for a R:R 1:5 (I entered slighty early I confess, but you could have entered at the close of the red HA for only a few pips less profit).

Thought I'd revisit the thread. It gets lonely not sharing in on the excitement at times!

Took in 35 pips this morning while making coffee.

A big thank you to Dred for this thread, and I think my husband secretly thanks you too!

Short AUD/USD 1h live trade

EUR/USD short 1h live trade

Hi Dredding82 (http://www.forexfactory.com/dredding82)

Great stuff! How do I get the indicators?, as it looks like they have been removed.

Thanks

Pat

PAT - please read the first post - they are in attachments

S UJ

Hi i need help for the setup of my metatrader 4
in the first post there is a zip whit this fils:
dir Freebie Indicators, files:
1) #OHLC - HA.ex4
2) 3_Level_ZZ_Semafor.ex4
3) FFCal Headlines
4) Freebie Candles.ex4
5) Market Display Controller(Monthly).ex4
6) Market Display Controller(Weekly).ex4
7) Market Panel Clock.ex4
8) Market Panel Display Controller.ex4

dir Pivots, files:
9) Pivots (Mid).ex4
10) Pivots Monthly(Mid).ex4
11) Pivots Monthly.ex4
12) Pivots Weekly(Mid).ex4
13) Pivots Weekly.ex4
14) Pivots.ex4
15) PivotsForFreebie.ex4

dir Templates, files:
16) freebie newbie daily.tpl

which files i have to add ad each chart? i think only:
2) 3_Level_ZZ_Semafor.ex4
16) freebie newbie daily.tpl

it is right?
i attach my chart with this 2 files, i read the rulez written in the first post and i drawn a arrow where i think i have to enter long, can you check if it's right?


entry 1: stoch cross, pivot failed (gray line), green candle (too far from gray line?), stop loss 1 pip below purple circle with number 2
entry 2: stoch cross, pivot failed (gray line), green candle, stop loss 2 or 3pips below purple circle with number 2

i missed some entry?

http://img248.imageshack.us/img248/2...forexplace.png (http://imageshack.us/photo/my-images/248/gbpusdm15forexplace.png/)

thx

andrea from italy

This just shows one of my many factors i have tried to create. It does not issue what signal you use ALL WILL tell you when to get into the deals, If you know how to use it effectively. Does it mean we will always be right? But that is where studying MONEY MANAGEMENT comes into play!

I just wanted to take a minute and thank Dred for publishing this information. I have not posted here for a very long time but this thread was the genesis of profitability for me. I no longer use MT4 nor do I trade Forex ( I trade the ES/ Futures). The principals he teaches here all work the same. Entering on the pullback within the trend is a solid strategy- and Dred's tough love was really a great start to what I needed to make it in this business psychologically. I wish I had that semaphore indicator for Ninja but I have learned to live without it. I make my own indicators now with lines and a simple ema but the way I trade now is very similar to what Dred teaches here. So Thanks Dred. When people ask me I send them over to this thread- There is gold buried in here for those willing to work.

what is rgl and rgh in the chart since the price hit the level

Dredding82 I didn't know up open the trading journal back up.

Here's a trade I just placed goodnight.

Hi Dredding82.

I would just like to say thank you! This strategy is really working.. I have 79% winning trades right now.

Hi all,
I've been reading that thread for the last couple of days,
although I didn't finish YET but wanted to share a setup that I saw now on USDCAD
and I know it's not the sessions to trade USDCAD(asian session), but everything else is lined up so I couldn't help it but take that risk.



SELL
Trade With The Trend
1) ZZ Semafor On TOP(Within 1-3 Candles)
2) Failed At Pivot
3) Stoch Crossed DOWN
4) HA Candle Closed RED
SL= Last High(ZZ Semafor Dot)
TP= 1:1-1:4(risk/reward) or Use Other Pivots(The Daily Range indicator will tell you what pivot to MAX PROFITS)

EDIT: good trade,
I'll trail my stop with 15 setups to 1.08, would be nice to have 60 pip winner while risking around 8 pips

another trade on AUDUSD I took, lined up pretty nice before US close - so I took positive swap also ,
15m-Daily Heiken Ashi turned bullish,
I use HMA(Hull MA) on the 60m which also slope upwards, and needless to say, HH's/LH's



EDIT: consequence:

GBPCAD 15m I am not sure if it was the right idea to sell because market made a higher high so I decided to go this time with HMA on 60m chart to determine direction.
anyway I'll go into risk-free trade @ 1:1


EDIT:
Kool, almost 0 DD from entry +41 pips!
almost 1:3 R:R
paid for my loser on EURUSD

okay, insight about that particular trade:
although HA 4h was all blue and looked bullish, I didn't have 4h candle close by the time I took that trade,

not overthinking it, but if I want to determine the trend on the HA candles I should wait for candle close because it'll repaint on that indicator if I wouldn't wait for candle close, and then look for HH/LL etc..

it actually happened eventually on that trade, colors has changed from blue to red because 4h didn't close.

trade safe.

I see AUDCHF is started to form a new up trend

started to count my trend from ZZ level 3,
it also fits with the 60m chart PA which I took on my swing account.

BUY
Trade With The Trend
1) ZZ Semafor On BOTTOM(Within 1-3 Candles)
2) Failed At Pivot
3) Stoch Crossed UP
4) HA Candle Closed GREEN
SL= Last LOW(ZZ Semafor Dot)
TP= 1:1-1:4(risk/reward) or Use Other Pivots(The Daily Range indicator will tell you what pivot to MAX PROFITS)

EDIT:
nice ending for NY session this trade gave 1:1-1:1.5 risk ratio + swap candies


it's no surprise that 95% of the people lose money in forex,
even when you know to read price you still might end up on the wrong side.