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Price Action in Day Trading by Dadas

  • #381
  • Apr 3, 2013 3:23pm Apr 3, 2013 3:23pm
Now, this is something I call Forex Art:
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Seeing this picture in the morning, even without the last Bearish run,
would anybody have doubts which direction to Enter?
Trade the facts, not opinions.
  • #382
  • Apr 3, 2013 3:41pm Apr 3, 2013 3:41pm
Quoting limprobable
{image} My work since friday. I send you a private message.
I hope you still have the same PTECZ on your chart?

If not, draw again, start from the first one. Only one on chart.
Switch to M5 and put some arrow where you would enter and which direction.
Do the same for every one of the PTECZ.
Make picture of every Entry.

Then, share, I will answer.
Trade the facts, not opinions.
  • #383
  • Apr 3, 2013 7:27pm Apr 3, 2013 7:27pm
Quoting Dadas
ejiexe Can you explain just one issue? You are FF member since 2007 and you have 9 vouchers, 557 posts. How is it you are calling yourself "newbie"? I like your approach, and I am happy to see you can benefit from my method. But, this one little issue keeps bothering my mind?
I am a newbie because I am a struggle trader. I started learning forex since 2006 to be precise. I read so many threads on FF looking for a suitable way of trading but all effort to achieve my goals failed. I have lost so much in forex that I felt ashame to say but day by day I belive I am getting close to the success. The cost will one day be my tution fees which everyone must pay.

I got all my vouchers from LE1 thread who really tried for newbies and struggle traders. I participated in that thread alot. In fact, it was like a baby bcos I must go there everyday including weekends. I later move on to Dance and choros system which is an advanced method of LE1 and yet I am not consistence. It is not the system that is not working but psychology and flaw of rules which is very easy to do resulted to failure.

I got to belive now that no matter which method you want to use, you have to understand what price is doing and that is what you are teaching.
You system is not about entering and exit but it is all about Price behaviours. With this behaviour in mind now, we don't need to predict but act accordingly.

Your approached has really show more light and I am able to adapt to it because of experience.
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #384
  • Apr 4, 2013 1:19am Apr 4, 2013 1:19am
I can't post immediately I prepare the chart. Sleep time lol.

If you know the rules........

you will be safe to trade in any conditions


Master Dadas knowledge is full of wisdom.

I appreciate the knowledge he parted.
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THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #385
  • Apr 4, 2013 1:25am Apr 4, 2013 1:25am
GJ Update
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THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #386
  • Apr 4, 2013 1:33am Apr 4, 2013 1:33am
This is my other micro account. I should have allow to run because I did'nt remember setting TP on this. But when I saw the pips emotion got over me and forget to wait to see PTECZ and breakdown on 15min for exit so I exited immediately.

Well I am happy with the pips. Thank you Dadas for showing the way.
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THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #387
  • Apr 4, 2013 1:40am Apr 4, 2013 1:40am
Quote

"The Ultimate Realization"

Remember what I always said? Balance = 0

What has been taken, must be given back.
What has been given, must be taken back.

Sooner or later, one time or another.

I am just a word copier. I copy the word of the MASTER. That is all I am doing.
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THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #388
  • Apr 4, 2013 1:48am Apr 4, 2013 1:48am
GJ sell Update

Edit: I have moved stop to BE.

Warning. This is not a trade call. I am just showing my learning progress in realtime.

I love showing trade in realtime because I know from experience that it is very easy to analyse after the fact.
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THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #389
  • Apr 4, 2013 2:06am Apr 4, 2013 2:06am
Hi Ejiexe,
I don't know what Dadas' take on this. I usually look at higher time frame when there's a big movement of a candle. Consolidation in lower TF is tricky and not usually reliable when there's a big movement like this.

4x4x (still on vacation)
Quoting ejiexe
GJ sell Update Edit: I have moved stop to BE. Warning. This is not a trade call. I am just showing my learning progress in realtime. I love showing trade in realtime because I know from experience that it is very easy to analyse after the fact. {image}
  • #390
  • Apr 4, 2013 2:10am Apr 4, 2013 2:10am
Quoting forexforex
Hi Ejiexe, I don't know what Dadas' take on this. I usually look at higher time frame when there's a big movement of a candle. Consolidation in lower TF is tricky and not usually reliable when there's a big movement like this. 4x4x (still on vacation)
HTF is highly reliable and this is what you get there

"The Ultimate Realization"

Remember what I always said? Balance = 0

What has been taken, must be given back.
What has been given, must be taken back.

Sooner or later, one time or another.
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #391
  • Apr 4, 2013 2:21am Apr 4, 2013 2:21am
GJ update. Close remaining and waiting for next oportunity to come. I want to see what London guys want to do
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THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #392
  • Apr 4, 2013 2:37am Apr 4, 2013 2:37am
Quoting ejiexe
It is not the system that is not working but psychology and flaw of rules which is very easy to do resulted to failure. I got to belive now that no matter which method you want to use, you have to understand what price is doing and that is what you are teaching.
First of all, ejiexe, thanks a lot for the kind and wise reply!
Thank you for all your good words, as well!

I can tell by your posts, that you are the emotional type.

And, you are correct - a good system can help, good knowledge and understanding
of Price Action and reading charts, surely helps, but EMOTIONS always hinder.

Yes, it is emotions that cause all our failures.
Emotions are natural. They are there to give us information.
They are there to help us, not to disturb us.

They cause failure, when we are afraid of our emotions and try to run away from them.
We do not like the feeling the emotions generate in our body and try to suppress the emotion.

We like the feeling of the "good" emotions and then, we get too much exited.

In Forex all emotions are "bad"! They are out of place!
They cause our mistakes, thus we lose when we could have Profited!

The perfect state for Trading Forex is Nirvana - the Neutral State of Emotions.

But, we are all, only human!

We can, though, work with our emotions!

First step, is let your emotion be!
When you are trading and feel the coming emotion, and you know that,
you are aware that you have emotions, you even know when the emotion is there,
so, let it be, stop for a moment, just for a second or shorter and let the emotion
reach your consious mind, name the emotion, find the feeling in your body,
take a couple of deep breaths and relax, let the emotion flow, and use it to
your advantage! The emotion is your friend! Use it wisely! You have free will!

Take some free time to meditate and relax.
There is a lot of meditation and relaxation on the web.

Some people may laugh and say I am crazy or cranky, but I say:

Dare to be more than average!
Dare to be Great!

Dare to self-develop, to reach new highs!
Trade the facts, not opinions.
  • #393
  • Apr 4, 2013 2:47am Apr 4, 2013 2:47am
Switch to Daily. The Consolidation (shadow as Dadas refers to) on the same day did not give up so much from big gain. Usually, it waited a day or so before the "Balance = 0" took into effect.

4x4 (still on vacation)


Sorry about the yellow line. Please ignore it.
Quoting ejiexe
HTF is highly reliable and this is what you get there "The Ultimate Realization" Remember what I always said? Balance = 0 What has been taken, must be given back. What has been given, must be taken back. Sooner or later, one time or another.
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  • #394
  • Apr 4, 2013 2:56am Apr 4, 2013 2:56am
Quoting forexforex
Switch to Daily. The Consolidation (shadow as Dadas refers to) on the same day did not give up so much from big gain. Usually, it waited a day or so before the "Balance = 0" took into effect. 4x4 (still on vacation) Sorry about the yellow line. Please ignore it. {image}
Yes. It is just a matter of time

That is why Dadas said SOONER OR LATER. ONE TIME OT ANOTHER.

PATIECE IS THE KEY IN THIS INDUSTRY. WE GOT TO HAVE
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #395
  • Apr 4, 2013 2:59am Apr 4, 2013 2:59am
Thanks for pointing it out.
Quoting ejiexe
Yes. It is just a matter of time That is why Dadas said SOONER OR LATER. ONE TIME OT ANOTHER. PATIECE IS THE KEY IN THIS INDUSTRY. WE GOT TO HAVE
  • #396
  • Apr 4, 2013 3:05am Apr 4, 2013 3:05am
Quoting Dadas
First of all, ejiexe, thanks a lot for the kind and wise reply! Thank you for all your good words, as well! I can tell by your posts, that you are the emotional type. And, you are correct - a good system can help, good knowledge and understanding of Price Action and reading charts, surely helps, but EMOTIONS always hinder. Yes, it is emotions that cause all our failures. Emotions are natural. They are there to give us information. They are there to help us, not to disturb us. They cause failure, when we are afraid of our emotions and try to run...
Thanks so much Master. I will work on emotion part and I will let you know as I progress. I may still suffer some kind of emotional state as I am in the process of building all looses pips. So I may not want to give back for now.

Your teaching is helping to identify and really know if the behaviour of the market is going to hold or not.

This is also supported by these EJ trade and GJ trade.

The truth of the matter is that I was able to figure out stoploss and not chassing market.

Edit: My stop was seriously challenge on EJ and that is the beauty of it. I should have put the stop on EJ alittl above weekly closed. I am just luck not to be hit
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THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #397
  • Apr 4, 2013 3:10am Apr 4, 2013 3:10am
One thing the Trader must do is know the instrument well!

Some of you watch 8 different instruments, maybe more.

OK, if you are able to grasp the whole thing?

I have worked regularly with 3 instruments only:
1. GOLD,
2. EURUSD,
3. EURJPY.
I can say I know a lot about these three.
They, sometimes surpprise me, but in general, they have their own characters.

Ever since I am with youy guys, here, I started analising what you post.

So, I discover other instruments, Price Action is Price Action, no matter which instrument!

But, when I see something like today on GBPJPY, I say - You must know your instrument!
Looking at GBPJPY history, this is quite unusual, even for the GJ!

Long signals are not present on higher Tfs.
There are two Long signals on the M30:
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They are not so clear on M15:
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But, if someone was following the Zone Candle and PTECZ:
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And was there at the right time:
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They would have gotten a nice Post-Easter Present!
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Trade the facts, not opinions.
  • #398
  • Apr 4, 2013 3:28am Apr 4, 2013 3:28am
Quoting forexforex
Sorry about the yellow line. Please ignore it. {image}
Guys, I am a patient person, but when I get ANGRY, you had better get out if my way!

"Sorry about the yellow line. Please ignore it."

The yellow line, blue with others, stands out in foreground,
covers the Candles, makes it impossible to read Price Action,
and You say "ignore it" - both of you!?

The least you could do is tick the "Chart on foreground" option in chart Properties.
Or, the MA in background.

The best thing to do is get rid of it, completely.

It is like saying: "I can see it is blue, but tell me is it blue?"

Wake up now, wake up completely!
Trade the facts, not opinions.
  • #399
  • Apr 4, 2013 3:34am Apr 4, 2013 3:34am
The Safest entry point is first retrace to consolidated zone. Do you agree?
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Persian Gulf forever
  • #400
  • Apr 4, 2013 4:01am Apr 4, 2013 4:01am
Quoting parsfx
The Safest entry point is first retrace to consolidated zone. Do you agree? {image}
It is not the question if I agree or not.

The answer is You.
You must see that it is for you, or not.

You are getting the idea, you are using the PTECZ.

You must practise 100 times, 1000 times, 100 000 times!
Then you will have Your own answer!

I can agree, I can disagree.

That makes no difference to You!

There is a lot of study material in this thread.

To understand, you must find the same situation on your charts and copy
everything to your charts step-by-step! That is how you learn.
Just reading and then trying to apply is too little, not enough.

You must do it, first repeat my steps, find the same situation on your chart.
Get the same picture as you see on the image in every detail - on your chart.

You can not do that in one day!
You must do it regularly, until you master.
Trade the facts, not opinions.
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