Price Action in Day Trading by Dadas

How about this possible trade. I didn't take it. PETZ formed on H4 in upward direction, entry off M15 on retrace ?

Yes, mine is London -1.

DR on my chart is 146 Pips today, now.

ejiexe,

Go easy on parsfx, he has his habits.
Some straight lines to help him see is not so bad!

It is clear without the lines, but maybe parsfx needs some time?

Why did people invent the Convergence/Divergence idea?
Maybe, they could not see the chart?

PTECZ - PTECZ - PTECZ - PTECZ - PTECZ - PTECZ - PTECZ - PTECZ

But, yes, a very good idea, if the Pip potential was still OK!

What a bout this Trade ..... Sell "EUR/JPY" @ 130.40 S.L : 130.85 T.P : 128.80 http://img7.imageshack.us/img7/745/eurjpy.jpg

Here's a trade I just entered (CADJPY) after a PTECZ on the Daily and I entered off the 4HR chart. This is my 1st trade according to Dadas method so i have no idea how much its according to the rules or not.

One thing I would appreciate comments on is: I would like to use this method on higher Tf's as tried in this trade. My plan is to use the Daily as my starting point and then use the 4Hr as the Tf from which I will id my entries. If I don't wanna go lower than 4Hr for my entries, would it be okay to only start at the Daily or should it be better to start at the Weekly chart?

Dadas can you mark your enter and exit points of your trades on the chart so that we can see actual trades made from your system?

euraud

Explain why?
Use the ideas presented from this thread!
This picture - your picture:

Says nothing!
It says, to me, that you are assuming something.
It says, to me, that you are not using any of the ideas in my thread!
It says, to me, that you DO NOT understand the PTECZ!

For those who need a million times repetition, I repeat:

I have, I am and I will!

Please, read the whole thread an find my earlier examples!

Please, if you are interested, follow the thread.

Please, instead of asking me for evidence, produce your own evidence!
First on demo accounts, then on real accounts!

I have my own trades going, which you may not understand what I am doing, and
I will not show these to you, or anybody!

In order to show you trades according to the PTECZ method I must find a little time
and be there when the situation or setup is there, so that I see it and Enter.
Then I must follow the price to Exit.

I, also must answer your questions and comment.

I, also must live a little bit of the normal life!

To those who understand, I say: A Great Thank You!

boerseun

Let us start from the beginning:
1. I understand your plan, but, there is a very important element missing, here.
Your target - What is your target?
How long do you plan to wait for Exit?
How many Pips can you potentially produce?
Without this element you are nowhere, in unknown position.

And your choice of currency shows that you did not think ahead.

All JPY pairs work the same, just look at the D1 charts:
EURJPY, USDJPY, GBPJPY, CHFJPY, CADJPY (as long as JPY is the second currency).
The CADJPY has a short history dating 2009.
The current Price is the AllTime High.
Where is your refference level?
How can you possibly judge the Potential?
How can you possibly estimate the Exit Point to look for?
How can you make a good analysis in this situation?

You are acting only on your positive feelings, and,
if you are following the news, on the assumption that BOJ will continue to weaken the Yen.

This, has very little in common with the PTECZ and the analysis I am showing, here.
Especially when you want to trade Long Terms, you must do Long Term analysis!
Where is the next potential level on this chart?

What can you expect? Nothing, infinity!

2. If you chose the EURJPY for example:

Now, you can relate, you can plan, you can analyse!
W1 chart,
Custom_Zone_Candle_Tf = 10080,
Custom_Zone_Candle_Index = 1.
You see the relative situation in history, you see the trend,
you see the last retrace with PTECZs.
The retrace was 8 weeks long.

Now, the question - Is that what you are planning to do?
Are you planning to wait weeks, maybe even 8 weeks to Enter Long on PTECZ?

Because, from this point of view, this train is already running.
The next stop is even 700 Pips away, potentially.
It could take a week or two, or three to get there!

If you still want to get on this train, then go to D1:

The train is runnig, there is no stop, there is no PTECZ!
Can't board from here.

Go to H4:

As you see, there were a lot of Stops - PTECZs on the way.
That is where you can board the train, at the stops.
You do not jump into the moving train!

Now, still want to board this train?
Then, set your SL at 200 Pips and TP at 650 Pips, for example.

But, that is not the idea of going from station to station, from PTECZ to PTECZ!
This is H4 PTECZ to PTECZ, good for Day Trading, right?

So, we go back to D1:

The almost Doji is considered a PTECZ (the indi may not show it),
so, we have a Stop. We could board, here.
But, we must know the Potential, so we find a historical PTECZ higher.
There is one, ca. 200 Pips up.

And finally, we want to board Long as Low as possible, to get the best seat!
So, we should watch PA at the end of yesterday Candle and beginning of today Candle.
Yesterday D1 Candle is the direction - UP.

Now, you can switch to M30 or lower, if you want!


Recheck on H1:


Recheck on H4:


SL and TP - your are on the ride!

OMG it is a fast thread,

It is post #156, trying to understand
Yes I am still here, but I regularly check newest pages

Please give me a note

thanks Dadas and friends here

I did not get off to a good start with this thread. Your dismissive attitude to two other traders who were starting similar threads was the main cause. Then when I saw there were discrepancies in your early posts, especially terminology, I posted my views accordingly. It was necessary for you to correct your early posts so that they made sense to experienced traders who use such terminology. That made it necessary for me to delete my posts, because your corrections made my questions look stupid. It was almost as though you were making it up as you went along, from my point of view.

For me, it is interesting to see a PTECZ method because of this: http://www.forexfactory.com/showthread.php?t=171552 and this: http://www.forexfactory.com/showthread.php?t=302007 and this: http://www.forexfactory.com/showthread.php?t=56907 and this: http://www.forexfactory.com/showthread.php?t=86766. The list goes on, but the theme is similar.

You have not made a friend here, but I am interested in the continuation of this thread. What I would like to see now, is some live trades, so that your subscribers and I can see the mind set that pulls the trigger on these trades. Fake outs, and some very vicious ones, are the biggest problem with trading out of consolidation zones.

Your examples all show the good outcome of breakouts from consolidation zones but based on retrospective analysis. Thank you.

Dadas,

All I can say is WOW!!!!!

Thank you very much for your reply. I never expected to get such a detailed response...it more resembles a training course then just a comment or reply. It amazes me that you find the time and patience to educate fellow traders in such a thorough manner.

You have inspired me to study deeper into your teachings. It will take me a while just to absorb the post above. let alone all your posts.

Thanks again

You are Most Welcome!

Be patient, be consistent, be persistent!

Stay with us!

Dadas' explanation is always an enlightening.
Dadas is

I did not have a dismissive attitude to anyone!

As far as forex4worth is concerned, I visited his thread, because I thought I would find
something along my way. I read his idea, I saw his charts. I contributed to his thread.
He told me to be patient. I understand what patience means, at Forex trading.
I can read charts, so I asked questions, because what I saw on his charts was
in strong contradiction to what he was saying. I just asked why he was telling me
to wait and for what. The guy had no answer. Until today, he has not answered.
I did not mean to dismiss him or anybody, but I stand for what I post.
So, far I have been able to defend myself. He has not even tried.

As far as Gumrai, he was the first to post his dismissive attitude to me. As were you, as well.
I encouraged him to start his own thread, which he did. It was a dialog between me and Gumrai.
Nothing dismissive at all.

There were no discrepancies. I know a few very experienced traders, 7+ years trading FX, to whom
Engulfing Candle means the Body Engulfs the previous Body, it need not Engulf the Shadows, and the Engulfing Candle is in opposite direction and ending the trend. I am more lenient to this definition,
because we are trading live charts, not models! Thus, even if the Candle does not exactly Engulf
the previous Candle, but is a Break Candle, it is an Engulfing Candle.
However, I do own this one to You and Gumrai, for pointing out that some people are having
interpretative problems, thus I corrected, explained, changed terminology to a more general one.

I am not looking for friends, here.
If you need friends, go look somewhere else.

Forex trading is not about making friends.
Forex trading is about making money!

I do welcome you to follow this thread.

There are some live trades amongst the examples.
You must find them yourself!
There is one from today.
This is a very good one, though, I could have Entered the Short on Close of the short Bullish M5 Candle
just before the Bearish Candle. I missed that one, so I waited for some pullback on the following Candle.
I closed on the first sign of Break Up, Engulfing, as I call it, and new Bullish high in relation to previous Candle.
After it had closed.
I did not follow for the Long, because I was busy posting and answering.

Retrospective is good, just follow the PTECZ and see for yourself.

FBO and other vicious ones?
That's where your SL & TP & MM comes in.
No method is 100% foolproof!

Again, just understand my idea of the PTECZ!
The above boerseun case analysis presents the idea very clearly.
If you do not believe in retrospective, play a demo game.
Just for the fun of it, follow the PTECZ.
You will understand a lot, but YOU must do it!

And, I can not tell You where to Enter and Exit!
And, I can not show You where to Enter and Exit!
And, You will never know what triggers the Trade,
until You have learned not only to read PA from the historical Candles,
but also learn to read PA from the Current Candle in Formation.

Yes, it is possible and the PA of the Current Candle carries information,
especially the lower Tf, like M5, which you can observe live.

Hi Dadas,
This is for those doubting the efficacy of your system,its a follow-up of my analysis posted yesterday(daily chart-M15 entry).I entered these trades at the beginning of a new trading day with targets of 100pips,but waking up this morning i noticed they all moved down more than 50pips each.I left them to run only for them to all retraced to entry point,but i didnt panic because of the efficiency of the strategy.As you can see,these trades just closed at my readjustment of 50pips each,wowowowowowowowowo!!! GOD BLESS YOU,DADAS!!!

Thanks!

Just one question:

How many en-lightnings must strike You?