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Trader Dale - daily trading levels

  • #8,501
  • Jul 24, 2017 8:00am Jul 24, 2017 8:00am
Quoting HappyMe
{quote} Well I hate this MarketProfile....it's not that clear... but personally I would do it as follows.... You have there a sort of a D-shape....support/rejection => look in the articles from Dale. The higher is at the break of the range The lower can seen as support....but not further then the POC of that area.... Following the profile I put the level a little lower then Dale this....BUT I don't have here the Future levels....that could make a small difference! {image}
WHAT ABOUT THE BEGINNING OF THE PRICE ACTION HERE?? is it relevant??
  • #8,502
  • Jul 24, 2017 8:07am Jul 24, 2017 8:07am
Quoting Neo1
{quote} WHAT ABOUT THE BEGINNING OF THE PRICE ACTION HERE?? is it relevant??
Beginning of the price action.... I think you mean price around 0.7533.
Well look at that small red arrow in my screenshot....indeed it's a level but it is acting as support. and if hit then don't trade above the POC. Because that POC is the balance area of that D-shape. From there it can go north...and south...

But...are those few pips (3 or 4pips) worth risking your money (I want to have 10pips TP to 12pips SL at least!)....no I don't think so....so it's not a real trade level!

The higher level was broken and became a support....

Hope this makes it clearer!?
You can manage risk, but you can't manage the return
  • #8,503
  • Jul 24, 2017 8:14am Jul 24, 2017 8:14am
Quoting happyme
{quote} beginning of the price action.... I think you mean price around 0.7533. Well look at that small red arrow in my screenshot....indeed it's a level but it is acting as support. And if hit then don't trade above the poc. Because that poc is the balance area of that d-shape. From there it can go north...and south... But...are those few pips (3 or 4pips) worth risking your money (i want to have 10pips tp to 12pips sl at least!)....no i don't think so....so it's not a real trade level! The higher level was broken and became a support.... Hope...
my question is very simple ...you said earlier that you place the level at the begining of the price action on that volume cluster so how you define the beginning of the price action ??
  • #8,504
  • Jul 24, 2017 8:30am Jul 24, 2017 8:30am
Quoting Neo1
{quote} my question is very simple ...you said earlier that you place the level at the begining of the price action on that volume cluster so how you define the beginning of the price action ??
The answer is also simple.....you have here a small D-shape.... respect the support and resistance for this shape!
Price action or not....if you want to trade that price-action with this D-shape as MP then you can take the trade from the price action towards the POC of that shape...... but it's not worth it.....that's what I said...

So in the end you have to combine this different things....

it's not just: Trade price action OR trade price action on high volume......not at all...

besides that if there is red news...do not trade the levels!
if levels are tested....do not trade the levels

Read the articles once more.... Dale also wrote about price action (2 or 3 articles) ....let it come down....and you will see it!
You can manage risk, but you can't manage the return
  • #8,505
  • Jul 24, 2017 12:02pm Jul 24, 2017 12:02pm
Quoting Neo1
{quote} This is a picture from the third article where he chooses his level at a price lower than the POC which doesnt make sense and there is no reason in the previous articles for that. SO WHY NOT THE POC?? {image}
Neo1, you picked an interesting and complicated example. The way I see it, there are all three types of price actions in the same day:
1. Aggressive initiation by buyers.
2.Sellers adding to the positions
3. Cumulation followed by sellers moving price down.
The large volume cluster combines all three, so its difficult to see. But what we are interested is in number 3.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 41 KB
  • #8,506
  • Jul 24, 2017 12:48pm Jul 24, 2017 12:48pm
Quoting bluejack
{quote} Hi Januszo, Is your TP 12, SL 12, and Be 1+ at 10?
Ej ,en,ea split into two 10/30 tp sl20 be@10 or more crazy 50tp


Echf 10/12 tp/sl no be


Eu eg try 15 tp sl,be @8

Inform us whatsuits U best.
  • #8,507
  • Jul 24, 2017 1:21pm Jul 24, 2017 1:21pm
Quoting Bestof27
{quote} hi looks fine I have 2 other long levels on EU 1.1605 and 1.1628 my UJ short is 111,47 cheers
1.1628 - Nice one
1.1605 - also had it marked, but wasn't sure.
  • #8,508
  • Jul 24, 2017 1:51pm Jul 24, 2017 1:51pm
Quoting Neo1
{quote} WHAT ABOUT THE BEGINNING OF THE PRICE ACTION HERE?? is it relevant??
Reads like you are getting quite frustrated Neo1. Can I recommend you don't try to figure out why Dale picks his levels and take up his course? FXdude, Januszo and HappyMe to name a few, have created their own way of reading Market Profile. If you rolled back Market Profile to when they were represented by letters associated by each 30 minute blocks you will see how the market shuffles up and down in and out of balance with S&R. Contributing factors are at the least, futures, volume, Price Action. A level is not just a level because there is a high volume there, a level uses all this factors to cause a reaction or a reversal. If you also looked at the way the market moves you can catch a rapid move that gains you more pips. But those big moves in one direction are not always a regular occurrence and have a high probability of hitting an S&R level then reversing just as quickly as it arrived there.
Think of it this way for one example, if a big candle shot price up to a point in the market, it will have to take a big candle to take you back down a level so these trades had a lower probability of winning. We early in this forum we came to a conclusion that big moves have less probability of a win and the EA that Sevan created accounts for this. This is just one rule, another of course is Red news.

How about you take the five Mayors, EU, AU, UC, UJ and GU, plot some levels using the following types of moves as per FXdude post:

1. Volume Cumulation
2. Aggressive Initiation and Aggressive initiation with a pause in the move
3. Strong rejection

Once you start to apply rules it is a very profitable way to trade. But note it is not something you can pick up and run with quickly.
Take 1 step forward, two small steps back
  • #8,509
  • Jul 24, 2017 2:16pm Jul 24, 2017 2:16pm
Quoting DrBeercan
{quote} Reads like you are getting quite frustrated Neo1. Can I recommend you don't try to figure out why Dale picks his levels and take up his course? FXdude, Januszo and HappyMe to name a few, have created their own way of reading Market Profile. If you rolled back Market Profile to when they were represented by letters associated by each 30 minute blocks you will see how the market shuffles up and down in and out of balance with S&R. Contributing factors are at the least, futures, volume, Price Action. A level is not just a level because there...
I was actually surprised that nobody took time to examine how Dale chooses his levels precisely not frustrated
I watched Dale's webinar he was talking about price action areas of interest there was no information about how to precisely choose the level to trade
  • #8,510
  • Jul 24, 2017 2:50pm Jul 24, 2017 2:50pm
Quoting Neo1
{quote} I was actually surprised that nobody took time to examine how Dale chooses his levels precisely not frustrated I watched Dale's webinar he was talking about price action areas of interest there was no information about how to precisely choose the level to trade
The information is there from the first post through to now. There are many ways to trade MP and Dale has his way, its a profitable one. I will leave you to try and figure it. Happy trading.
Take 1 step forward, two small steps back
  • #8,511
  • Jul 24, 2017 3:04pm Jul 24, 2017 3:04pm
Quoting DrBeercan
{quote} The information is there from the first post through to now. There are many ways to trade MP and Dale has his way, its a profitable one. I will leave you to try and figure it. Happy trading.
i wasnt discussing other ways of trading MP i was discussing Dale's strategy
  • #8,512
  • Jul 24, 2017 4:49pm Jul 24, 2017 4:49pm
guys
eu
1.1750
1.1672

?
  • #8,513
  • Jul 24, 2017 6:59pm Jul 24, 2017 6:59pm
Fresh from the oven take the level touched first.....
UJ long 111.11 or short 111.43
Follow the flow of water in a stream
  • #8,514
  • Jul 24, 2017 10:14pm Jul 24, 2017 10:14pm
Quoting spynoza
Fresh from the oven take the level touched first..... UJ long 111.11 or short 111.43
The only solid call for UJ is above 112.000. 111.11 is not a good order imo. as for 111.43, prolly yes
  • #8,515
  • Jul 24, 2017 10:17pm Jul 24, 2017 10:17pm
Quoting januszo
guys eu 1.1750 1.1672 ?
Janus, i have been seeing you posting a lot of orders everyday, mind to share the result?
  • #8,516
  • Edited 7:22am Jul 25, 2017 6:12am | Edited 7:22am
Hi Guys,

A time ago I (and others with me) were asking why there isn't a trade explorer in this thread with good or bad results. For some reason nobody wants to publish the results with this strategy. Even Dale (as far as I know) wasn't showing a Trade Explorer. Well he did show an excel-sheet with results....and that looked to me and some others suspicious. Well for that reason I thought....why not do it yourself.... After a month tracking the results I still really don't now why nobody can/could show a nice trade explorer...?!

For serious the last month results made me amazed (month isn't finished jet)! I never ever had such a good and steady results.......! I'm very happy about that and hope I can proceed with such results, month after month after month. That would be killing!!

Just look to my Trade Explorers here on FF in my profile. I made one for my demo-account and one for my live-account.

On both accounts only my EA was trading. Every evening I only feed the levels and red-news items to the EA....pretty stand-alone during the day. Anyway...I need to look during the day because I'm intersted in how it goes and if the EA does what it needs to do : "Just manage the given levels"
Good to know: in the beginning of the Demo-tracking my EA made some-errors (I fixed those bugs)...at the moment the EA is I think good stable but as yesterday I still found a small bug in it. If I am more sure about the EA I will publish him in a few days/weeks.

Regards and Good Luck!!
You can manage risk, but you can't manage the return
  • #8,517
  • Jul 25, 2017 10:37am Jul 25, 2017 10:37am
Quoting HappyMe
Hi Guys, A time ago I (and others with me) were asking why there isn't a trade explorer in this thread with good or bad results. For some reason nobody wants to publish the results with this strategy. Even Dale (as far as I know) wasn't showing a Trade Explorer. Well he did show an excel-sheet with results....and that looked to me and some others suspicious. Well for that reason I thought....why not do it yourself.... After a month tracking the results I still really don't now why nobody can/could show a nice trade explorer...?! For serious the...
Really good job mate! Were you trading my levels or yours? Either way congratz! Also good job on creating the EA!
  • #8,518
  • Jul 25, 2017 10:38am Jul 25, 2017 10:38am
Hello guys, I have a little gift for you: 10 educational videos on Market Profile that I made for members of my course at the end of June and start of July. See them at my video section: http://trader-dale.com/day-trading-videos/
Also check out my yesterday's and today's trading at the Recent Trades section here: http://trader-dale.com/recent-forex-trades/
  • #8,519
  • Edited 11:17am Jul 25, 2017 11:01am | Edited 11:17am
Quoting Trader-Dale
{quote} Really good job mate! Were you trading my levels or yours? Either way congratz! Also good job on creating the EA!
Thanks Dale, I actively changed to your levels since +/- a month Dale...
You can manage risk, but you can't manage the return
  • #8,520
  • Jul 25, 2017 12:10pm Jul 25, 2017 12:10pm
Quoting Trader-Dale
Hello guys, I have a little gift for you: 10 educational videos on Market Profile that I made for members of my course at the end of June and start of July. See them at my video section: http://trader-dale.com/day-trading-videos/ Also check out my yesterday's and today's trading at the Recent Trades section here: http://trader-dale.com/recent-forex-trades/
Hi Dale Thanks for the videos but did you upload them?? because there are only commentary videos there
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