Price Action in Day Trading by Dadas | Page 57 | Forex Factory

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Price Action in Day Trading by Dadas

  • #1,121
  • Apr 19, 2013 4:28am Apr 19, 2013 4:28am
Quoting EaglePip
Just want to share my latest attempt using PTECZs. Started on W1 and D1 and to me price is clearly rangebound. {image} Moved down to M5 and was waiting for retrace to upper PTECZ, but it was not going there. Came back later and found I missed the entry and it was now in between the upper and lower Ptecz. So, looked for the most recent PTecZ and entered on pullback. {image}
Good, so far.
Just work on the Exit in the same way.
You let your reward fly away!
Trade the facts, not opinions.
  • #1,122
  • Apr 19, 2013 4:37am Apr 19, 2013 4:37am
Quoting Dadas
....... You let your reward fly away!
Yes, I know its not your typical set and forget 50-100 pip trade.
It was mainly to illustrate the frustration of real time trading and watching the screen for hours.
I lack the patience, and hate to see profts evaporate, and this why I tend to exit too early.
This is where your post #1072 p 72 on defending the trade is so important.
Will just need to practice a lot and develop confidence in the system.
  • #1,123
  • Apr 19, 2013 5:11am Apr 19, 2013 5:11am
Quoting EaglePip
Yes, I know its not your typical set and forget 50-100 pip trade. It was mainly to illustrate the frustration of real time trading and watching the screen for hours. I lack the patience, and hate to see profts evaporate, and this why I tend to exit too early. This is where your post #1072 p 72 on defending the trade is so important. Will just need to practice a lot and develop confidence in the system.
Notice the last PTECZ you chose for entry.
This PTECZ was for a real close M1 Entry.

You had another PTECZ just next to the left.
It was with the real Low for this moment.
Plot it now, and see your Entry for the Pips that flew away.

Then, follow to the left and see the PTECZs which ended every Bearish retrace.
Remember, the trend to the left looks Bullish!
Trade the facts, not opinions.
  • #1,124
  • Apr 19, 2013 6:04am Apr 19, 2013 6:04am
Quoting Dadas
The idea is to enter as early as possible and to Enter Short at the top, so, look for Short Entry inside the Zone, or as close as possible. This way, you will be safe most of the times even if the price turns against you, you can Break Even. That is why you need a lower Tf for precise Entry. The train of endless SL (Stop Losses) usally happens when you are Entering Short at bottoms or going against the Bigger Trend. Those two combined, kill the trader. PS. Stop Loss is SL. Stopout is when the broker closes some or all your trades because Free Margin...
How do you enter short at the top? It's impossible to know where exactly the top is.
  • #1,125
  • Apr 19, 2013 6:15am Apr 19, 2013 6:15am
Quoting Dadas
EURJPY I entered this Long yesterday, a few hours before D1 Candle Close. It was ca. 21:00 my local time (London+1), ca. 19:00 platform time. Based on H4 PTECZs and PA. {image} I am already good, but I am not supposed to look until the end of day.
Why would you enter on that candle specifically? It looks to me like the entry point off the lower PTECZ would have been 28 candles prior.
  • #1,126
  • Apr 19, 2013 6:18am Apr 19, 2013 6:18am
Quoting stevepatt
Moved Stop Loss up {image}

I don't understand why you entered where you did. I see it looks like price bounced off the gray PTECZ, but then you entered smack dap in the center of another PTECZ on weak looking candles. How did you know price was going to continue going up????
  • #1,127
  • Apr 19, 2013 6:19am Apr 19, 2013 6:19am
Quoting Dadas
Notice the last PTECZ you chose for entry. This PTECZ was for a real close M1 Entry. You had another PTECZ just next to the left. It was with the real Low for this moment. Plot it now, and see your Entry for the Pips that flew away. Then, follow to the left and see the PTECZs which ended every Bearish retrace. Remember, the trend to the left looks Bullish!
I see! I chose the Lowest PTECZ, but should have used the one with the lowest high.
Good tip.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm5.png Size: 42 KB
  • #1,128
  • Apr 19, 2013 6:33am Apr 19, 2013 6:33am
Quoting Bookman
How do you enter short at the top? It's impossible to know where exactly the top is.
Bingo!

That is why the Zone! PTECZ!

The rest is your R/R & MM.

And, many, many, many examples in this thread!

Literally, hundreds!
Trade the facts, not opinions.
  • #1,129
  • Apr 19, 2013 6:35am Apr 19, 2013 6:35am
Quoting Bookman
I don't understand why you entered where you did. I see it looks like price bounced off the gray PTECZ, but then you entered smack dap in the center of another PTECZ on weak looking candles. How did you know price was going to continue going up????
stevepatt didn't know!
Nobody knows!

We read Price Action which tells us the most probable direction.

That is all, nothing more!

PS.
If you are going to enter Long on tops of strong Bullish Candles,
you are going to get SL-ed.
Trade the facts, not opinions.
  • #1,130
  • Apr 19, 2013 6:37am Apr 19, 2013 6:37am
Hi Dadas and greeting to all in this thread..

I'm am new here..

just my opinion to you Dadas..
Can you show us the rules, the protocol or anything for us to understand this thread??
I read and re-read it until now, but it dont give me such an understanding... a lot of picture but really don't understand, why we sell here, why we buy at the bottom, i can't see at all.. as i know draw the ptecz.. use your tools.. blah blah blah..
i just assume, u know better..

perhaps u could file it and convert to adobe pdf file or microsoft words or something that might me and others know your style of trading.. because if is come to those who are new, they probably and mostly couldn't understand what are u saying, they couldn't get the picture what are you telling them..

please to summarize your details of your work, your method, your tools, and many other thing.. why you buy here, sell there, bounce then buy, break then sell, etc..

i really hope you can.. Thanks DADAS..
  • #1,131
  • Apr 19, 2013 6:45am Apr 19, 2013 6:45am
Quoting Bookman
Why would you enter on that candle specifically?
It looks to me like the entry point off the lower PTECZ would have been 28 candles prior.
Bingo, again.

I was practising the D1 Strategy.
I was not there 28 Candles earlier, so I could not have seen that situation.

I assumed Trading from ca. 21:00 London+1 to 22:00 London+1.
Thus, I entered.

Now, I am strong in Profit, but I must practise this strategy,
so I will not close until 21:00 London+1, unless, of course, TP is already taken.
Trade the facts, not opinions.
  • #1,132
  • Apr 19, 2013 6:54am Apr 19, 2013 6:54am
Quoting EaglePip
I see! I chose the Lowest PTECZ, but should have used the one with the lowest high. Good tip. {image}
Yeah, and the Bullish Break Up, Engulfing or Trend Candle was just before it!

IOW: Bears counter-attacked, but the Bulls were stronger.
Then, there was indecision for some time but Bulls were always better!
Trade the facts, not opinions.
  • #1,133
  • Apr 19, 2013 7:55am Apr 19, 2013 7:55am
Quoting Dadas
Yeah, and the Bullish Break Up, Engulfing or Trend Candle was just before it! IOW: Bears counter-attacked, but the Bulls were stronger. Then, there was indecision for some time but Bulls were always better!
I really like the Ptecz simplicity, especially when compared to that other thread which is over 8000 pages. It has at least 20 candle patterns to remember.
  • #1,134
  • Apr 19, 2013 8:09am Apr 19, 2013 8:09am
Quoting EaglePip
I really like the Ptecz simplicity, especially when compared to that other thread which is over 8000 pages. It has at least 20 candle patterns to remember.
Yes, that was another reason for the PTECZ and the very basic Price Action reading.
All Candlestick patterns have their beginning in Price Action reading the Candlesticks,
and the Consolidation.
The PTECZ puts them all in one place!
Trade the facts, not opinions.
  • #1,135
  • Apr 19, 2013 8:20am Apr 19, 2013 8:20am
Hi all,

I just look for 2 or 3 patterns... can you list the 20 ?
Bottomless wonders spring from simple rules, which are repeated without end
  • #1,136
  • Apr 19, 2013 8:56am Apr 19, 2013 8:56am
Quoting limprobable
Hi all, I just look for 2 or 3 patterns... can you list the 20 ?
Candlestick patterns - attached
Attached File(s)
File Type: pdf AK CANDLESTICK PATTERNS.pdf   471 KB | 1,139 downloads
Trade the facts, not opinions.
  • #1,137
  • Apr 19, 2013 8:56am Apr 19, 2013 8:56am
Quoting Dadas
Bingo! That is why the Zone! PTECZ! The rest is your R/R & MM. And, many, many, many examples in this thread! Literally, hundreds!
But you've said before you have to wait for price to come back out of the PTECZ to enter. This means you are NOT going short at the top, you're waiting for a pullback
  • #1,138
  • Apr 19, 2013 9:36am Apr 19, 2013 9:36am
Quoting Bookman
But you've said before you have to wait for price to come back out of the PTECZ to enter. This means you are NOT going short at the top, you're waiting for a pullback
I never said you or anybody had to do anything!
I have presented my method, my idea, my concept.

I gave many options' examples.

The style of trading is up to you.

I am not giving you a ready to use foolproof packet!

I am giving you a way and I am giving examples of how you can use
this way to improve your trading!

Again, I am not telling you to do anything!

It is your choice, and solely your choice how you want to use the ideas, herein, presented!

I am here to help you learn.

I am here to comment your charts and lead you to the proper path.

I can only do that if you start posting your trades, your setups, your analysis.

If you continue with your Ego shouting out loud, you will not move any further.
Trade the facts, not opinions.
  • #1,139
  • Apr 19, 2013 9:39am Apr 19, 2013 9:39am
Thanks Dada's,

I used your indicator at 1D (1440) 4H (240) and 1H on 3 differents graphs.

I cant put 3 indicator's on the same graph.

It's me or you can't have more than 1 indicator on 1 chart.

If yes, is it possible to have more than 1 ?
Bottomless wonders spring from simple rules, which are repeated without end
  • #1,140
  • Apr 19, 2013 9:39am Apr 19, 2013 9:39am
Quoting Dadas
The idea is to enter as early as possible and to Enter Short at the top, so, look for Short Entry inside the Zone, or as close as possible. This way, you will be safe most of the times even if the price turns against you, you can Break Even. That is why you need a lower Tf for precise Entry. The train of endless SL (Stop Losses) usally happens when you are Entering Short at bottoms or going against the Bigger Trend. Those two combined, kill the trader. PS. Stop Loss is SL. Stopout is when the broker closes some or all your trades because Free Margin...
So in this example you do not enter on the close of any of these hourly candles? You go to the shorter time frame to figure out where to enter? I'm still confused as to what exactly you're looking for on the shorter time frame to actually enter the trade. It seems we're so focused on patience we're forgetting the fact that eventually patience turns in to a missed opportunity if you don't act fast enough.

http://charts.mql5.com/1/175/eurusd-...rkets-as-2.png
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