Hey, mike warned us before for Daz's setup if we seeing a bull divergence before, we need stoch to crossed not crossing to confirm the divergence completed..
I got a few private messages asking me about how I trade dazfx based on the comments I made on post 1255 last week. I don’t specifically look for dazfx but I do use it as an entry method based on how I observe the market on longer timeframe. I’m attaching a word document with an example of a trade I made last week. As you see you may use any entry method you are comfortable with but I’ll reference a dazfx setup in order to clarify what I said. I don’t always look for setups on 15Min chart. This was only for day trading purposes.
The truth is we will not trade same way, we will have to trade wot suits our personality.
Daz, its a nice way of trading but the creator wasn't around to put us through when we are making those losses as a result of picking wrong impulsive wave/wrong trend direction. then we were (PID,Chowclown,DoubleTop,Noel,Suspect,fiborex et al)
we all went away to look for how to trade this better before I figure out the infusion of TL to this strategy.
Rumba, i even incorporate support turning into resistance into my trading arsenal and even more, all to have confluence at trading daz.
Trading any method without proper understanding of the market will burn, so who ever is PMing you, shd trade the basics and get feel for mkt rhythm............
The truth is we will not trade same way, we will have to trade wot suits our personality.
Daz, its a nice way of trading but the creator wasn't around to put us through when we are making those losses as a result of picking wrong impulsive wave/wrong trend direction. then we were (PID,Chowclown,DoubleTop,Noel,Suspect,fiborex et al)
we all went away to look for how to trade this better before I figure out the infusion of TL to this strategy.
Rumba, i even incorporate support turning into resistance into my trading arsenal and even more, all to have confluence at trading daz.
Trading any method without proper understanding of the market will burn, so who ever is PMing you, shd trade the basics...
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I have to agree with Naija, any System/Method/Strategy without the feel for market is like gambling in the casino. I believe we all became good traders. Keep it up guys, the goal is getting close! The Best never Rest, keep going! Spiral out!
Daz, its a nice way of trading but the creator wasn't around to put us through when we are making those losses as a result of picking wrong impulsive wave/wrong trend direction.
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Hey Naija I don't blame daz for any losses I or anyone might have suffered due to his departure. You can take the best trading system and lose with it if you think there is an exact formula to trading. Every currency pair behaves a certain way and market conditions change constantly. All we can do is try not to get run over by our own greed. I've minimized the pairs I trade and I even may end up trading only one pair at some point....who knows. As a trader we all need to find our strength and stick with it. What I can count on is strong S/R levels on higher timeframes to avoid making dumb trading decisions. Despite all the recent volatilities in the market my approach still seems to work. Of course I need to be more generous with my stops but as long as I follow my money management strategy I know I can survive in this market.
Hey Naija I don't blame daz for any losses I or anyone might have suffered due to his departure.
We took those losses then bcoz most of us are newbies but we would have learnt faster if the creator were to be around. Honestly, am happy to have learnt the hard way and am back to my root in fx incorporating all that i have learnt into it. Good post rumba, and hope to see u in the room soon Mike
Hey Naija I don't blame daz for any losses I or anyone might have suffered due to his departure.
We took those losses then bcoz most of us are newbies but we would have learnt faster if the creator were to be around. Honestly, am happy to have learnt the hard way and am back to my root in fx incorporating all that i have learnt into it. Good post rumba, and hope to see u in the room soon Mike
Hey, we have different feeds on the 4h chart so I cannot really see the stochs on my chart.
However, the entry seems a little early. The entry is only valid after the formation of the confirmation candle, with 8,3,3 stoch pointing down or has already crossed down. The exact entry at the 5ema. Since these elements are missing on your chart, as long as you have adhered to them, it should be correct. All the best!
Attached is how it would have look like on my chart.
Hey, the setup looks good, but, considering the primary bias for this pair is still downtrend, on the 4h and daily chart, it is too risky to take this trade.
Daz mentioned to observe higher charts to determine the trend of the pair and taking only trades with the trend direction.
Hey, the setup looks good, but, considering the primary bias for this pair is still downtrend, on the 4h and daily chart, it is too risky to take this trade. Daz mentioned to observe higher charts to determine the trend of the pair and taking only trades with the trend direction.
Hey, the setup looks good, but, considering the primary bias for this pair is still downtrend, on the 4h and daily chart, it is too risky to take this trade.
Daz mentioned to observe higher charts to determine the trend of the pair and taking only trades with the trend direction.
hi guys after see many delay in skype Mike ask Robin to create room in yahoo mesenger but unfortunetly ym can't create conference room right now, ym disable that option. So i try to create room in mirc, if anyone interested can join in abjects server channel #DazFibo, i don't have experience in mirc, if someone can set it properly then it will be good. what do u think guys?.
Hi All,
i am very impressed with the Daz system. I am going to try and go to the skype room tomorrow and see if I can learn more about this system. Are there certain hours for the skype room? Is anybody welcome there or do you need an invite?
Forex Genius I am really impressed with how you have progressed since you tuned into the system. Hope I can do the same. It seems to fit my type of trading.
Good Luck To All,
TraderMan
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Joined Apr 2008
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Status: Willing to learn
|138 Posts
hey, guys, here is a good Daz's setup with gartley pattern on e/j yesterday. the entry is the tweeze top.
If we put the SL at the swing high, it turned to be a loss, but we should remember what mike said to us: if swing high/low is close to a suppor/resistence level, put SL above or below s&r.
Here's the chart, yellow line is the sl place which secure the win of this play
hey, guys, here is a good Daz's setup with gartley pattern on e/j yesterday. the entry is the tweeze top.
If we put the SL at the swing high, it turned to be a loss, but we should remember what mike said to us: if swing high/low is close to a suppor/resistence level, put SL above or below s&r.
Here's the chart, yellow line is the sl place which secure the win of this play
Hi All,
i am very impressed with the Daz system. I am going to try and go to the skype room tomorrow and see if I can learn more about this system. Are there certain hours for the skype room? Is anybody welcome there or do you need an invite?
Forex Genius I am really impressed with how you have progressed since you tuned into the system. Hope I can do the same. It seems to fit my type of trading.
Good Luck To All,
TraderMan
Ignored
Hello TraderMan:
A few individuals have sent me pm's asking about my trading.
Just to let everyone know, it is going quite well.
I have not posted anything in the thread because I am placing trades using the Daz method, but sometimes before the stoch turns. This means that there are times when the trade is not a true Daz trade since we should always wait for the stoch to turn to avoid bad trades.
I did not want to place weekly updates on trades that were not 100% Daz trades.
As I have posted in the past, I have not joined the group in the trading room because for whatever reason, I am unable to access tradingrooms.com. This has been going on for months.
I feel quite lonely out here by myself but because of what I learned from Mike and the other veterans, I am doing just fine.
Soyabean and I do keep in touch every now and again.
Hopefully, something will be worked out whereby we can all have access and brainstorm together as we did in the past. It certainly helped me grow tremendously and very quickly.
Everytime that I go to skype, there is no one in the room.
Good to read about the great success the new guys are having.
Yes, for Fib Expansion, your points would be A, B, C. C being the retracement high. Please take a look at the charts in my first post, the blue dotted lines are Fib Expansion lines.
Thanks
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Hi Daz ..
I didn’t try your method yet but it seem it is great but would you plz explain how you select A , B and C point and how you draw the Fib chart , as per what I know usually we take the highest and the lowest point last 24 hrs , is that right or you have other way
Powerful Fib Based System - by DAZfx
