Forex Freeway - page 7
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One more possibility, attach the DeMark Trendline indicator to your charts. It draws trendlines from high/lows according to DeMark and signals when the trendline is broken. It also plots a potential take profit level. Again, stops should be placed at the last swing high/low. Take the trade in the break on the close if all roads are a go. You can change the colors to suit your needs. Choose between either the 5m or 15 min. Even works on 60m. Enjoy. DeSoft
Thanks again
How does this one calculate the take profit level?
On my short swissy right now, it is projecting 1.2515 from 5 min.
Long way to go...
Thanks again
How does this one calculate the take profit level?
On my short swissy right now, it is projecting 1.2515 from 5 min.
Long way to go...Dan,
I think it calculates it based on the high/low but I'll need to go back into my notes and see. I tested it sometime back and saw some potential in it. The problem was that you needed to know the main trend direction. That is why I thought it might be helpful for some in combo with the Forex Freeway. I'll post later on the info.
DeSoft
How is everyone doing with the Forex Freeway strategy? Please add your comments and let's work together to be profitable.
DeSoft
How is everyone doing with the Forex Freeway strategy? Please add your comments and let's work together to be profitable. DeSoft
I booked +88 pips so far.
9 trades closed, 7 profitable, 2 expenses
2 still open positions short swissy at +15 and short e/j +10
........
swissy just hit target +20
so I am up a healthy 108 pips today
Great stuff!
I booked +88 pips so far.
9 trades closed, 7 profitable, 2 expenses
2 still open positions short swissy at +15 and short e/j +10
........
swissy just hit target +20
so I am up a healthy 108 pips today
Great stuff!Great job Dan!!! Keep it up!
DeSoft
I hope everyone will find success with the Forex Freeway indicator, however you may use it. It saddens me to see so many people stumbling in the Forex market. There are so many so called "gurus" out there telling you when to buy/sell or trade their way and you will be rich. They charge alot of money yet leave the person with a broken bank account. Or you see those on the forums (especially MoneyTec & StrategyBuilderFX) that take a strategy or an indicator off the internet, package it as their own and then try and sell it (sometimes for $4,000.00). My advice, stay away from these people. If their so called system is so great and makes tons of pips a day, why do you need to sell it begin with. The answer, because it is not successful. How I learned to trade the Forex market was to read, listen, and understand market dynamics. I also stopped trying to predict turning points and focus on the trend (what the market is telling you). So, I hope you use the Forex Freeway indicator and inpliment it into your own trading style. You don't have to follow mine. Even though I've been successfull with it, you may be different in your approach. Whatever you do, share it here with everyone. This is probably one best forums I've seen on the net for sharing ideas. I look forward to helping as many traders as I possibly can (for free). Look forward to seeing how everyone is doing.
DeSoft
I agree with every letter you wroted De Soft all of what you mentined is truth anf reality
Timeframe ideas
Anyone have some good thoughts on what indicators might work best with the freeway for 1 hour trading? Thanks for your help.
This is a very good system.....can anyone devise an alert when all 4 bars go green/red??
Just a little update.
My remaining short e/j from yesterday hit the +20 target over night.
That makes a total of +128 with an amazing accuracy.
11 trades
9 wins @ +20
2 losses at -18 and -34
For my first day trading this.
I really like this strategie alot, the hit and run mentality of booking +20 pretty fast in most cases. The last ej trade lasted for 11 hrs though. The SL was pretty save behind the swing high before I entered the short. At one time it was pretty close to get hit, but it later followed the freeway again.
Desoft, I really want to say thank you again for sharing your method here.
It is simple and visual enough to be easily followed, but yet flexible enough to make it work the way you want it to use.
I hope I can conserve this kind of performance
The first day was very healthy for my trading acct!