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Price Action Trading with Indicators! The Freebie System

  • #7,761
  • Mar 3, 2016 12:23pm Mar 3, 2016 12:23pm
Quoting keysharp
This is my demo with daily TF. The large losing trade is a manual trade that I am holding to probably clear in a few days. The daily has been in force for three candles. {image}


keysharp: Looking good.
About the only thing we can say is that the stops are larger hence therefor the trade has more room and the buffer is also larger so again the trade has more room to move about. So how is H4 doing? Hardly any trades right? Well then that tells me that we need more pairs, so we get more opportunities. I don't mean to add a bunch just add enough whereby we get say 1-3 trades on average per pair or 7-9 trades total on average/week Just need to keep the trading down. As I will show you guys this is what affected me live account this week, too many trades that did not yield a runner. But then again I messed it up to by not TURNING IT ON the other nite LOL. I would even venture to say that we could try the GPBAUD's and GBPJPY's , the volatile pairs on the higher TFs..

In addition I am using Candles = PatternsNoStocks on the Oanda demo. So far it has taken very few trades but has one solid runner.. (~ -400pips). This may be the way to go.. I mean use Patterns cause it does get u in earlier and less trades are made, which means less risk.

Oh on another note. Last nite I closed down all the 4 EAs on the Live account. I then fired up my TradeCopier on the Oanda demo and I started up the Slave portion of the TradeCopier on one chart of the Live Account. Now in theory I should now have the SAME EXACT trades as the demo account is performing, so far so good. Lets see if I get the same profit LOL.

Let me make sure that all is copied appropriately. If anyone is interested in going this route, remind me next week and I'll post the files and instructions.

Some of u may ask what's the difference with not using bluefx?
1. You don't have to worry about any funny business cause it can be run on your machine alone. No need for internet (other than for your MT4)
2. Once u setup the Freebie EA on your Master Account then all u have to worry about on the Slave account is what percent to risk(well basically there is 2 more options), that's it. Bluefx on the other hand has a tone of inputs LOL.
Our AWESOME IMAGINATION is the true holy grail!
  • #7,762
  • Mar 3, 2016 12:26pm Mar 3, 2016 12:26pm
Quoting Reamasesa
{quote} Hi, Thanks! So far this is how my v13.5 is looking. {image}
Reamasesa:
what was the broker u are using??
Our AWESOME IMAGINATION is the true holy grail!
  • #7,763
  • Mar 3, 2016 1:15pm Mar 3, 2016 1:15pm
[quote=xmess7;8791510]{quote} keysharp: Looking good. About the only thing we can say is that the stops are larger hence therefor the trade has more room and the buffer is also larger so again the trade has more room to move about. So how is H4 doing? Hardly any trades right? Well then that tells me that we need more pairs, so we get more opportunities. I don't mean to add a bunch just add enough whereby we get say 1-3 trades on average per pair or 7-9 trades total on average/week Just need to keep the trading down.

Yes, there are no trades last night or today. I have upped the number of pairs from 4 to 7.
  • #7,764
  • Mar 3, 2016 1:41pm Mar 3, 2016 1:41pm
hey keysharp...how much profit did those 2 trades on the higher TFs yield?
  • #7,765
  • Mar 3, 2016 2:54pm Mar 3, 2016 2:54pm
Quoting Superpmf
hey keysharp...how much profit did those 2 trades on the higher TFs yield?
One trade is still going and it is at .4% profit the closed trade was about .05% profit, if I had left it alone and let it run I would be at triple %.
  • #7,766
  • Mar 3, 2016 11:24pm Mar 3, 2016 11:24pm
Quoting keysharp
.... What about the thought that when a trade is closed because of wrong direction, then an opposite trade is taken immediately? {image}
Dude, question. How do we control this trade? In other words, once the opposite trade is taken how do we minimize the potential loss? And should the current approach of closing the trade on the opposite 3sema be changed?

Ideas man,,, I want to at least try this one time...
Our AWESOME IMAGINATION is the true holy grail!
  • #7,767
  • Mar 4, 2016 12:20am Mar 4, 2016 12:20am
Folks there is one thing that I think we have forgotten about... especially for the lower TF trades.

The use of the daily average! The EA has an input for that very thing. I was thinking what about having the EA detect when price is either in the top 4th (no longs, but shorts are ok) or bottom 4th (no shorts but longs are allowed). That would cut down the trades and perhaps we can relax the opposite 3sema condition so as to allow trades to move around more...
Our AWESOME IMAGINATION is the true holy grail!
  • #7,768
  • Mar 4, 2016 1:32am Mar 4, 2016 1:32am
Quoting xmess7
{quote} Dude, question. How do we control this trade? In other words, once the opposite trade is taken how do we minimize the potential loss? And should the current approach of closing the trade on the opposite 3sema be changed? Ideas man,,, I want to at least try this one time...
Jess, I think this should be tied in with the part where a trade is closed because of an opposing dot. So, NO do not change the current set up but add- that as soon as the closing occurs that within so many pips a trade in the opposite direction is taken.

The only problem I see is that this taking a trade in the opposite direction is good in the lower time frames but looking at the Daily, I don't see an instance where it would be necessary. My 4Hr frame hasn't had a trade in two days. I just changed to 20sma and pattern recognition with no stocs.
  • #7,769
  • Mar 4, 2016 2:07am Mar 4, 2016 2:07am
Quoting xmess7
Folks there is one thing that I think we have forgotten about... especially for the lower TF trades. The use of the daily average! The EA has an input for that very thing. I was thinking what about having the EA detect when price is either in the top 4th (no longs, but shorts are ok) or bottom 4th (no shorts but longs are allowed). That would cut down the trades and perhaps we can relax the opposite 3sema condition so as to allow trades to move around more...
I like this idea. Let's try it out. How soon can you add this to the code? Also...I definitely think that the opposite dot thing needs to be relaxed...or the buffer needs to be widened.
  • #7,770
  • Mar 4, 2016 7:24am Mar 4, 2016 7:24am
Ya'll know this is NFP and Unemployment rate week USA today! Probably a lot of movement today, I understand. In six minutes.
  • #7,771
  • Mar 4, 2016 7:28am Mar 4, 2016 7:28am
Quoting xmess7
{quote} Reamasesa: what was the broker u are using??
Hi,

RoboForex.


Thanks.
  • #7,772
  • Mar 4, 2016 7:38am Mar 4, 2016 7:38am
Quoting keysharp
Ya'll know this is NFP and Unemployment rate week USA today! Probably a lot of movement today, I understand. In six minutes.
Oh right. That would explain the immediate open and close of a trade just now. Prolly if I were trading live, I would turn off the ea at this time.
  • #7,773
  • Edited 7:58am Mar 4, 2016 7:45am | Edited 7:58am
Quoting Superpmf
{quote} Oh right. That would explain the immediate open and close of a trade just now. Prolly if I were trading live, I would turn off the ea at this time.
Lol, I should have and big time. lost about 35 on a 500 live account. Not out of the woods yet but looking for several days of correction to get back to where we were.

from a quick review of this past NFP moment I like the Daily time frame. In fact after I summarize this week's activity I probably will set the live account to daily TF.
  • #7,774
  • Mar 4, 2016 8:07am Mar 4, 2016 8:07am
Lesson learned! Holy cow. The ea opened a sell trade on USD/JPY and I'm trying to close it manually to make a little profit but I can't get the order to process. What s nightmare!
  • #7,775
  • Mar 4, 2016 8:07am Mar 4, 2016 8:07am
This is an ouch moment. I don't think the opposite dot closing took place on this short trade. Here it would have been nice to have the short close and a long trade be entered.
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  • #7,776
  • Mar 4, 2016 8:19am Mar 4, 2016 8:19am
Quoting keysharp
This is an ouch moment. I don't think the opposite dot closing took place on this short trade. Here it would have been nice to have the short close and a long trade be entered. {image}

True...but then you might have order execution issues at the right price and may therefore end up suffering further losses.
  • #7,777
  • Mar 4, 2016 8:22am Mar 4, 2016 8:22am
Quoting Superpmf
{quote} True...but then you might have order execution issues at the right price and may therefore end up suffering further losses.
You may be correct. But other pairs in the same situation did right. I think that it may be an inconsistency. Thanks for your observation.
  • #7,778
  • Mar 4, 2016 9:05am Mar 4, 2016 9:05am
I like Daily and this is after NFP friday.
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  • #7,779
  • Mar 4, 2016 9:14am Mar 4, 2016 9:14am
Jess, this is what I was thinking about opposite trades. After the ea closed the trade I manually opened a long trade.
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  • #7,780
  • Mar 4, 2016 11:23am Mar 4, 2016 11:23am
here is an update to the previous post where I opened an opposite trade after the ea closed the losing trade. The EA came in later with a long trade which proved me right.
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