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Price Action in Day Trading by Dadas

  • #801
  • Apr 12, 2013 8:33am Apr 12, 2013 8:33am
Quoting Dadas
Good idea, did you Buy on demo?
Currently
for my eyes get accustomed
for better see the signal, I practice.
Persian Gulf forever
  • #802
  • Apr 12, 2013 8:36am Apr 12, 2013 8:36am
Quoting zarach
{image} 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
Please, we are not here to slap you, or anybody!

Please, this thread is not about if you are right or if you are wrong.

You can not be right and you can not be wrong,
because you do not know what the Price will do next!

We are using the PTECZ idea and the Zone Candle idea
to identify Potential Trend Ending Consolidation Zones.

When we identify this Zone or Zones, we watch Price Action inside the Zones
and around the Zones. Price Action is telling us which direction the Price wants to go.

We make chart analysis to know our Global and Local Positioning according to individual strategy.

What is your strategy?
What is your target?
What is your analysis?

We do not know anything about what you are asking.

The Price Action in the PTECZ and around the PTECZ knows what it does.

Show me your analysis, I will comment.

And, better for you, if you find a 5-digit broker!
Trade the facts, not opinions.
  • #803
  • Apr 12, 2013 8:38am Apr 12, 2013 8:38am
Quoting markup
Yes i do .... from time to time ... and i pay for them
Well, you see, I pay only when I decide, or really must.

Not only in Forex.
Trade the facts, not opinions.
  • #804
  • Apr 12, 2013 8:40am Apr 12, 2013 8:40am
Quoting parsfx
Currently for my eyes get accustomed for better see the signal, I practice.
You know the Strategy Tester function in MT4?

Try it, I wrote about it last night.
Trade the facts, not opinions.
  • #805
  • Edited 9:15am Apr 12, 2013 9:04am | Edited 9:15am
I'm really sorry sir please forgive me if any of my word offend you..
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm30.png Size: 31 KB


There from M30 on blue rectangle would you consider it a PTECZ?

My analysis would be as follow:
after accumulation of sell from around 1.3112 looks like seller doesn't like to sell below 1.3039 so the price consolidate or there is buyer who willing to buy at that price.
after consolidating price jumped and make that long low shadow as PTECZ zone confirmation (if I'm read it right since I just started reading the chart the way you do today)

so from that point I might consider to buy if price retrace back to that area or sell from around 1.3110 and make it as my take profit point.

your comment is appreciated but if there is any word offend you I apologize in advance since english is not my native language probably I not mention clearly what I mean to say
  • #806
  • Apr 12, 2013 9:30am Apr 12, 2013 9:30am
one more thing out of topic what reason behind using 5 digit broker from your point of view?
  • #807
  • Apr 12, 2013 9:32am Apr 12, 2013 9:32am
Quoting zarach
I'm really sorry sir please forgive me if any of my word offend you.. {image} There from M30 on blue rectangle would you consider it a PTECZ? My analysis would be as follow: after accumulation of sell from around 1.3112 looks like seller doesn't like to sell below 1.3039 so the price consolidate or there is buyer who willing to buy at that price. after consolidating price jumped and make that long low shadow as PTECZ zone confirmation (if I'm read it right since I just started reading the chart the way you do today) so from that point I might consider...
English is my second language. I understand what you say!
Your words do not offend me, it is OK.

I want you to understand the idea, here!

You must study from beginning, from post#1.

EURUSD H1
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh1_now.png Size: 69 KB


EURUSD M30
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm30_now.png Size: 65 KB


EURUSD M5
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm5_now.png Size: 75 KB


If you wanted to Buy, you are too late, now.
Trade the facts, not opinions.
  • #808
  • Apr 12, 2013 9:34am Apr 12, 2013 9:34am
Quoting zarach
one more thing out of topic what reason behind using 5 digit broker from your point of view?
Show me your M1 chart and M5.
Trade the facts, not opinions.
  • #809
  • Apr 12, 2013 9:49am Apr 12, 2013 9:49am
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm5.png Size: 30 KB

Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm1.png Size: 30 KB

there is the M5 and M1 what is it?
Glad if you're not offended then since I'm going to learn a lot from you it's not a good idea to make you angry we say in my country good seed = good crop, bad seed = bad crop
I've read through from post 1 what I'm trying to ask is confirmation of your PTECZ maybe later I'm going to post live order and the analysis rather than posting chart like before
oh want more thing about my analysis what do you think of it? since in D1 right now price is consolidating but not PTECZ can we play tik tak sell and buy since price play inside the zone and inside the zone there is zone too "price move from consolidation area to consolidation area" ?
  • #810
  • Apr 12, 2013 10:03am Apr 12, 2013 10:03am
Quoting zarach
{image} {image} there is the M5 and M1 what is it? Glad if you're not offended then since I'm going to learn a lot from you it's not a good idea to make you angry we say in my country good seed = good crop, bad seed = bad crop I've read through from post 1 what I'm trying to ask is confirmation of your PTECZ maybe later I'm going to post live order and the analysis rather than posting chart like before oh want more thing about my analysis what do you think of it? since in D1 right now price is consolidating but not PTECZ can we play tik tak...
Look carefully at your Candles, look carefully at my Candles, one by one:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm1.png Size: 73 KB

You have missing data.
Your broker is probably Dealing Desk Broker.
He will play against you.
If you lose money, he is happy.
If you win money, he will make your trading difficult!
I wrote about it earlier.

You have big spreads, 3 Pips on EURUSD.
I have even 0.1 Pip on EURUSD.

There are 3 kinds of brokers:
Dealing Desk (DD),
Straight Through Processing (STP),
Electronic Connection Network (ECN).

Please find information on the internet. There is a big difference.
I will not tell you which style of trading you must take.

It is dangerous to play Pip-pong with the Price!
You make 2-3 wins, then lose.

Learn and practise the PTECZ trading, then decide what you want.

Scalping or more serious business?
Trade the facts, not opinions.
  • #811
  • Apr 12, 2013 10:10am Apr 12, 2013 10:10am
Quoting Dadas
Look carefully at your Candles, look carefully at my Candles, one by one: {image} You have missing data. Your broker is probably Dealing Desk Broker. He will play against you. If you lose money, he is happy. If you win money, he will make your trading difficult! I wrote about it earlier. You have big spreads, 3 Pips on EURUSD. I have even 0.1 Pip on EURUSD. There are 3 kinds of brokers: Dealing Desk (DD), Straight Through Processing (STP), Electronic Connection Network (ECN). Please find information on the internet. There is a big difference. I...
There are good MM brokers and bad... same for ECN/STP. Brokers usually dont play against specified traders and if they do then they usually last for very short time in this market. If you have 0.1 spread on STP/ECN broker then you pay commission for sure which might amount for 1 full pip. I see you are trading thru Fxsalt which claim to be ECN ... and thats good but you might aswell trade on Oanda which isnt ECN but their bussines model is really good + they are a lot longer on the FX market and have a better reputation. Different strokes for different folks
  • #812
  • Apr 12, 2013 10:16am Apr 12, 2013 10:16am
yes there is no shadow on many of my candles, guess it's time to consider finding a new broker

so the best is following the big picture momentum then, since I'm not quite good at processing too much information which time frame do you suggest to see the big picture (I'm mainly using M30 or M15)?
looking forward monday this weekend I'm going to practice it on simulator
Thank you sir
  • #813
  • Edited 11:57am Apr 12, 2013 11:43am | Edited 11:57am
Quoting markup
There are good MM brokers and bad... same for ECN/STP. Brokers usually dont play against specified traders and if they do then they usually last for very short time in this market. If you have 0.1 spread on STP/ECN broker then you pay commission for sure which might amount for 1 full pip. I see you are trading thru Fxsalt which claim to be ECN ... and thats good but you might aswell trade on Oanda which isnt ECN but their bussines model is really good + they are a lot longer on the FX market and have a better reputation. Different strokes for different...
Yes, you are right.
I have Oanda MT4, too, I have tested many different brokers' charts, from all over the world.

But FxSalt shows better and more.

Commission is no problem.
You are right that a few tens or a Pip go to the Broker, but I have no lags, no requotes,
everything goes through, and on GOLD spread is 2.2 Pips, now.

It is variable, I have seen 7 Pips for a short while, at times,
there are times it drops down to 1 or less Pips.

Show me another Broker like this.

Try, it is a different experience!

PS.
DD or MM brokers do not play against a specific trader, but they play in their own favour.
Thus, you get requotes, if the broker can't take your Order.
Trade the facts, not opinions.
  • #814
  • Apr 12, 2013 11:46am Apr 12, 2013 11:46am
Quoting zarach
yes there is no shadow on many of my candles, guess it's time to consider finding a new broker so the best is following the big picture momentum then, since I'm not quite good at processing too much information which time frame do you suggest to see the big picture (I'm mainly using M30 or M15)? looking forward monday this weekend I'm going to practice it on simulator Thank you sir
Always see the whole picture:
MN, W1, D1, H4, H1, M30

Look for early entries on:
M15, M5 or M1
Trade the facts, not opinions.
  • #815
  • Apr 12, 2013 11:54am Apr 12, 2013 11:54am
Quoting Dadas
Yes, you are right. I have Oanda MT4, too, I have tested many different brokers' charts, from all over the world. But FxSalt shows better and more. Commission is no problem. You are right that a few tens or a Pip go to the Broker, but I have no lags, no requotes, everything goes through, and on GOLD spread is 2.2 Pips, now. It is variable, I have seen 7 Pips for a short while, at times, there are times it drops down to 1 or less Pips. Show me another Broker like this. Try, it is a different experience! PS. DD or MM brokers do not play against a...
Nothing beats Futures market for costs/ATR ratio where you dont have to pay the spread / only commision

AMP futures is pretty good if you ask me

For FX , LMAX is best if you want to trade majors intraday. Nothing out there beats them atm.
Basically its always nice to have the ability to place "real" limit orders in the market without the need to pay the bid/ask spread.
  • #816
  • Apr 12, 2013 12:04pm Apr 12, 2013 12:04pm
@markup

Did you see this on any of your charts?
Attached Image (click to enlarge)
Click to Enlarge Name: xauusdm30_hist.png Size: 71 KB


Thanks for the valuable input!
Trade the facts, not opinions.
  • #817
  • Apr 12, 2013 12:29pm Apr 12, 2013 12:29pm
Hi Dadas,

I have got your file in meta editor on my platform but can't get it to load.....I've fiddled about with everything .....but no luck. I'm sure it is very much the same as other platforms on here mt4. Grateful for any help.

Thanks
We always have a choice to be right or kind,be kind you will learn more.
  • #818
  • Apr 12, 2013 12:39pm Apr 12, 2013 12:39pm
Quoting Dadas
@markup Did you see this on any of your charts?
Nope I'm not paying much attention to Gold intraday.
  • #819
  • Apr 12, 2013 12:41pm Apr 12, 2013 12:41pm
"Second mistake:
You did not estimate the Pip potential.
It was 50-60 Pips. (ca. 66 Pips from PTECZ to PTECZ inside)"

please @Dadas how can I do the above, please show step by step ways to do this.
Time always comes before price
  • #820
  • Apr 12, 2013 12:42pm Apr 12, 2013 12:42pm
Quoting emailpat
Hi Dadas, I have got your file in meta editor on my platform but can't get it to load.....I've fiddled about with everything .....but no luck. I'm sure it is very much the same as other platforms on here mt4. Grateful for any help. Thanks
If you followed the steps I posted twice, it should work.

How can I help remotely, when I do not know what you are doing?

When you have the file in the MetaEditor you must save it from MetaEditor
to the C -> Program files (x86) -> MetaTrader 4 -> experts -> indicators folder.

Only then, you must Compile the file in MetaEditor by clicking the Compile button.

Other than that, how can I help you?
Trade the facts, not opinions.
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