Price Action in Day Trading by Dadas

Thanks a lot for your help and encouragement! I do see what you did on your chart, it is much better zone. Here is gold on 1hour chart, what do you think?

GOLD is much more tricky.
It is like playing with explosives.
You must, really know what you are doing.


Trend does not always end where it looks like that on the chart.
It often ends earlier, but there is another testing which goes Higher or Lower.

In my opinion, this is then, not the continuation of trend, but just a sort of
ending explosion. Not easy to see, if you do not understand a lot of things.

That is why you must practise, practise, and practise, again.

And, yes, practise even more!

hi every body and dadas
dadas why u dont have sL in your positions?
i find ptecz in eurusd h4 that broke by bulish candle and i expect for reverse for thise zone and inter for buy position in lower tf

You could also look at it like this, from earlier PTECZs:

Another very good job

But, if this is your only reason for L? One H4 Bullish Candle and PTECZ?

Well, good, what about your destination?
Where are you going, potentially?

What are the other reasons for possible Long?

What is the time of day in relations to trading sessions?

What is your Global and Local positioning?

Maybe, because I know what I am doing?
Maybe, because I rather manage my Profit then manage my Loss?
Maybe, because I lose only when I really must?
Or, maybe, because I can hedge my losing trades?

You can do this, too, but only when you really know what you are doing!

Again, it is like playing with explosives.
If you do not know what you are doing, you can get killed, or badly injured.


In other words:
When you understand and see where you are, your Global and Local positioning,
and when you stop entering Long at the tops and Short at bottoms, you will
always have space for safe exit!

Entering Long at tops and Short at bottoms is the biggest and most common mistake!
It is the misinterpretation of Price Action.
It is when traders enter because they see the Price moving up or down.

Enter Shorts at tops.
Enter Longs at bottoms.

99% of times you will be safe.
The earlier you enter, the more room you will have to close safely if things go opposite.

Then, you can hedge, not with all brokers, be with the ones who allow hedge.
Hedging is an intelligent game, you must already be skilled.

Guys,

This thread is like a book.
You must remember where you finished and read on from that point.
There is always some new, useful information.

If you do not read it all, you will miss information.

i did forex trading for 6 years and i have my own system and when i read your thread i understood your idea about pas and pteczs are very good and i continue reading your thread and i use this idea for my trading for exampel i find pteczs in higher tf and trade it in lower tf with my system and your idea is good filter in my system for exampel when price are in pteczs i dont trade in lower tf and wait for break of ptecz and then i decide for inter in lower tf with my system
excuse me my english is not good.

Thank you for posting, here.

Your opinion is very valuable!

This is what I mean by Global positioning:

dadas when i use your indicator my chart dont show dash line
and what is the point in bottome of your candle ?

@davidtrader
I understand your idea.

Just for information, take a look at this view.
On H4 you find the PTECZ, as seen below:


Switch to M30, for example:


You could already be on the run!

You are, actually waiting for the Breakout and retrace of the D1 Zone Candle.
This is much later.

Additionally, EURAUD is on a strong Bearish trend, so you are taking a retrace on the Bearish trend.
Hope, you are doing this with full awareness?!

The Custom_Zone_Candle.mq4 does not include the dash lines.
They are 50% of Candle Body, I use D1 and W1 most often.

The dot under the Candle is my information about Candle Index number.
When I place the cursor over the dot, I can see the index number.

I do not think you need this?
It is for development, writing and testing programmes.

audusd:

Interesting dialog appearing here. Here is an person who has a method...( I personally do not trade his method but .. will follow along as I find interesting and MAY find something of value ) Why you ask??? Because is a PA trader and so am I... Essentially we all are to some degree. So instead of approaching from the point of view of your are wrong , I am right.... Maybe take the point of view of ... What can I learn from this idea, method, concept/ Will it fit into my trading style.. Maybe ?? Maybe not??

Its the mind set on the approach that is most important. Just as in trading you account. Your mindset is vital to your success. Why do you think so many fail.. They would have you all believe it was the method. I would argue strongly that it was you and not the method that caused the "most amount of damage" to your account. The learning curve can be very expensive and painful.. Add to that the self limiting, need to be right ego's and you will enter the Holy Grail of failure. Been there and lost it all. Wish someone would have told me that in the begining...OOps that right they did.. " I was just nit paying attention. I was of the mindset then that this "Mind Babble" really did not factor into successful trading... WAS I EVER FRIGGIN' WRONG!!!!!

I am not saying you cannot disagree but do it in a way that teaches you something. Look for what may be right ( for you ) not what is wrong because you disagree >>> because you need to be right.

Look at the Wright brothers.. They wanted to fly ???... How "crackers" was that way back then. Everyone had all the reason in the world why this could never happen... Really ??? Things that make you go mmmm??? I not saying he's a Wright Brother...But the concept is the same. Along the way people have taken this idea ( some good, some not so good, some worked, some did not ) and moved it forward. They added to their own ideas.. Built a better method. Look at us now.. We now put people into space on a regular basis.

The point: Do not let your bias put you in a position were you "potentially" cannot gain from another's ideas. Even if you disagree.. Look for opportunity..That small nugget that creates " your AH-HA" moment. Trading is about looking at an opportunity in a different way and profiting from it. This will take putting your bias aside...Sadly..most will not succeed in this, they will fail....If it were easy there would be a whole lot of traders making a fortune...and that AIN't Happening !!!

Again, I do not trade his method but, there may be something of value that I can use in my trading of PA that will allow to see the market better and hopefully gain more profit.

It all in the point of view...It cost me 1000's to figure this out.. and I did

Many pips to you all

TSD

Also, see how it beautifuly spreads on the M5:

Thank you very, very much for your post!

I would advise everybody to start from the following movies:

"What The Bleep Do We Know, Down the Rabbit Hole"


"The Secret"


"Beyond the Secret"


In this order, not once, but at least 3 times, and after a longer break, again.
Not only watch, but listen and understand, then do it!

Apply it to your life, to your trading.

Open Your Minds.

Hi Dadas,

Thank you again for your thread. Very constructive and help me too see the market on a different way. I am here to learn (my experience of forex is only 3 years) and still not find a good way. I stop trading since 1 month and i decide that i dont go back to real money still i dont find my way.

What do you think about this graph. It's not propely your way but i try to read with attention your first threads and work with it. Red and green are based on the bigger shadows of four hour candle. They looked like buying and selling areas showned four hour before.

I like this graph when i look the past, but i dont know yet when enter a trade in real live. Any idea to guide me?

Well, I have an idea for you!

First, take a deep breath, and relax.
Second, forget everything you know or think you know about Forex.
Third, take a clear chart, but my template, change colors, change view.

Take a deep breath, and relax, again.

Tomorrow, or Monday, when the market is working, open EURUSD H1.
Only on a demo account!

Put on your chart Custom_Zone_Candle.mq4 with Tf 1440 (default).

You should see a picture similar to this:


Look for PTECZ - only 2 PTECZ, not more, see the important ones,
the ones that ended a local Trend, like in the picture.


This is the first step.

Do not trade, just look for these PTECZ and draw them.
Do this for a week, every day, make pictures and after a week, contact me next Saturday by PM.
Make pictures and save them, just 2 PTECZ, the important ones!

Hi Dadas,

The Custom_Zone_Candle indicator basically outlines or draws the previous candle of the TF specified in the value of the variable.

How is this significant in relation to PTECZ?

What is the criteria in determining the PTECZ? Do you deviate from it depending on the PA.??

Sorry for asking these again if you already answered these queries?

4x4x