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Price Action in Day Trading by Dadas

  • #781
  • Edited 5:19am Apr 12, 2013 5:06am | Edited 5:19am
And, finally, the M1 PTECZ was all the way up, there!
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There is only 1 question:

How Aggressive do you want to get?
Trade the facts, not opinions.
  • #782
  • Apr 12, 2013 5:09am Apr 12, 2013 5:09am
Quoting Pipanje
Hi Dadas and all, my first trade {image}
Trade the facts, not opinions.
  • #783
  • Apr 12, 2013 5:17am Apr 12, 2013 5:17am
I feel my Aggressive Quotient is M30.

What is your AQ?
Trade the facts, not opinions.
  • #784
  • Apr 12, 2013 6:04am Apr 12, 2013 6:04am
my idea:
Historical PTECZ
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Entry
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Persian Gulf forever
  • #785
  • Apr 12, 2013 6:23am Apr 12, 2013 6:23am
Normally we consider the consolidation zone horizontally.
Sometimes the price is also the image of the flag state.
Can we consider this region as the consolidation zone?
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Persian Gulf forever
  • #786
  • Apr 12, 2013 6:25am Apr 12, 2013 6:25am
I have got to show you this:

Some people ask how do we deal with False Break Outs (FBO)?
I have been thinking, because I could not find an example.
I know there are FBOs.

I have got the answer!
Follow this:
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Just look for the PTECZ, you will most often be able to see,
that the FBO is just part of a larger Tf PTECZ!
Trade the facts, not opinions.
  • #787
  • Apr 12, 2013 6:30am Apr 12, 2013 6:30am
Quoting parsfx
my idea: Historical PTECZ {image} Entry {image}
Good idea, did you Buy on demo?
Trade the facts, not opinions.
  • #788
  • Apr 12, 2013 6:31am Apr 12, 2013 6:31am
Quoting Dadas
This is the way to do it! Now, I can point out your mistakes: GBPJPY First mistake: The general trend was strong Bullish. It was much wiser to wait for a Long entry. Especially, if you were going to bed and left the Entry for the next day! Second mistake: You did not estimate the Pip potential. It was 50-60 Pips. (ca. 66 Pips from PTECZ to PTECZ inside) {image} If you had estimated 50 Pips and set that as TP, the morning would have been much brighter. And, you could have continued. Where did you get the 100 Pips TP from? Your wishings? Your positive...
Hi Dadas,thanks for the corrections.I actually noticed it after reading your comments on my charts yesterday,i think there is improvement now because i was able to see the general directions last night and now i have 6 pairs closed at TP of 40pips each.However,i would like you to clear me on some things.what is the full meaning of ca.?also on estimation of pip potential,is it the difference PTECZ1 High and PTECZ2 Low for bullish trend and PTECZ2 High and PTECZ1 Low for bearish trend?i need to know how its calculated,Pls see one of the 6 charts.sorry if my questions are too much,thanks!!!
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If you dont stand for something,you 'll fall for anything.
  • #789
  • Apr 12, 2013 6:34am Apr 12, 2013 6:34am
Quoting parsfx
Normally we consider the consolidation zone horizontally. Sometimes the price is also the image of the flag state. Can we consider this region as the consolidation zone? {image}
Why should we, and what for?
We have got the PTECZ.
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Trade the facts, not opinions.
  • #790
  • Apr 12, 2013 6:40am Apr 12, 2013 6:40am
Remember the Short I had on GOLD on 4, April, that ran away upwards?
No, it was not a good Entry.

Well, I just closed at Profit!
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I do not advise any of you to do this!
Trade the facts, not opinions.
  • #791
  • Apr 12, 2013 6:45am Apr 12, 2013 6:45am
Quoting parsfx
Normally we consider the consolidation zone horizontally. Sometimes the price is also the image of the flag state. Can we consider this region as the consolidation zone? {image}
Your flag on your graph is on 1H: Watch the price on 5mn and 1 mn. It is probably a very good zone of PA scalping...?
Bottomless wonders spring from simple rules, which are repeated without end
  • #792
  • Apr 12, 2013 6:57am Apr 12, 2013 6:57am
Quoting Dadas
Remember the Short I had on GOLD on 4, April, that ran away upwards? No, it was not a good Entry. Well, I just closed at Profit! {image} I do not advise any of you to do this!
So why did you do that? What PA (or something else?) tell you that you have a chance that the price come back at this level? Do you have a SL anyway if the price never come back? Could you tell us more pls?
Bottomless wonders spring from simple rules, which are repeated without end
  • #793
  • Apr 12, 2013 7:11am Apr 12, 2013 7:11am
Quoting finaclefx
...what is the full meaning of ca.?
ca. = circa, about, approximately, estimatidely, potentially, more or less...

Quoting finaclefx
...also on estimation of pip potential,is it the difference PTECZ1 High and PTECZ2 Low for bullish trend and PTECZ2 High and PTECZ1 Low for bearish trend?i need to know how its calculated,Pls
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Quoting finaclefx
... see one of the 6 charts.
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Quoting finaclefx
...sorry if my questions are too much,thanks!!!
I started this, I am here to answer.
Trade the facts, not opinions.
  • #794
  • Apr 12, 2013 7:16am Apr 12, 2013 7:16am
Quoting limprobable
So why did you do that? What PA (or something else?) tell you that you have a chance that the price come back at this level? Do you have a SL anyway if the price never come back? Could you tell us more pls?
Know your instrument, well!

A very, very, very long story.

PA included, but the much larger picture.

If the price never comes back, I lose.

But very little chance, here.

And, it does not mean that I can not make other trades to hedge.

As long as the account is long enough!

I am telling you this, all the time.

Know what you are doing, know the picture in many aspects:
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Do not wander in alien environment!
Trade the facts, not opinions.
  • #795
  • Apr 12, 2013 7:35am Apr 12, 2013 7:35am
Guys, everyone can make mistakes.

Sometimes you will have a bad day,
sometimes you did not sleep well,
sometimes you had a bad diarrhoea,
or the women's bad days!

For many different reasons, you can make a mistake.

Does it mean you must SL?

SL is your choice, a safety mechanism for those who
are not so certain in the Forex Market and Charts, and Price Action.

Risk is one of the main elements, here.
Are you ready to Risk?
How much are you ready to Risk?
How does that apply to your account?

Know what you are doing!
Know your Global and Local Positioning!
Know your possibilities!

Be aware of what you are doing!

Then, you chose what you want to do and when.
Trade the facts, not opinions.
  • #796
  • Apr 12, 2013 7:59am Apr 12, 2013 7:59am
And, the PTECZ never stops to amaze me:
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Trade the facts, not opinions.
  • #797
  • Apr 12, 2013 8:00am Apr 12, 2013 8:00am
Quoting Dadas
Know your instrument, well! A very, very, very long story. PA included, but the much larger picture. If the price never comes back, I lose. But very little chance, here. And, it does not mean that I can not make other trades to hedge. As long as the account is long enough! I am telling you this, all the time. Know what you are doing, know the picture in many aspects: {image} Do not wander in alien environment!
So why do you need all those PTECZ, rules etc if you are not taking losses?
It would only take couple of Bernanke words about QE to send you into deep DD on this one.


Short Gold at the longterm support and hoping for price to comeback to BE - not good idea my friend.
  • #798
  • Apr 12, 2013 8:05am Apr 12, 2013 8:05am
Quoting markup
So why do you need all those PTECZ, rules etc if you are not taking losses? It would only take couple of Bernanke words about QE to send you into deep DD on this one. Short Gold at the longterm support and hoping for price to comeback to BE - not good idea my friend.
Like I said, it was not a good trade, my mistake, I confess!

You never make mistakes?

About #2 (DD), do not worry, I was ready to take the Loss.
Otherwise, I would have closed.

And, tell me, how many times you wished you did not SL,
because the Price went back over you TP level?
Trade the facts, not opinions.
  • #799
  • Apr 12, 2013 8:06am Apr 12, 2013 8:06am
Quoting Dadas
Like I said, it was not a good trade, my mistake, I confess! You never make mistakes?
Yes i do .... from time to time ... and i pay for them
  • #800
  • Apr 12, 2013 8:16am Apr 12, 2013 8:16am
Attached Image (click to enlarge)
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Just want to confirm this EU is breaking up from consolidation area?
or do I need a bigger candle to consider a valid break up?

PS:
trying to forward test break from consolidation
thanks in advance
please slap me if I'm wrong
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