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Price Action in Day Trading by Dadas

  • #1,161
  • Apr 19, 2013 3:06pm Apr 19, 2013 3:06pm
OK, so it is past 22:00 my local time (London+1).
Time to look into my EURJPY D1 strategy trade:

I waited until the last 3 seconds before 22:00 and closed.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy-h1-fxsalt-ltd-2.png Size: 80 KB


My TP was so close!
It was at 130.300 the High was 130.251 !

Anyway, the result is +172 Pips.

D1 intraday strategy based on 2 H4 PTECZs,
Trading time 21:00 to 22:00 only.

PS.
My platform is still running for another hour, so I could have waited longer.
But, rules are rules!
Trade the facts, not opinions.
  • #1,162
  • Apr 19, 2013 3:42pm Apr 19, 2013 3:42pm
In order to clarify the posting chart issue,
I have specified the rules in post#1 as follows:

Rules for charts:
1. Only plain charts with the helpers and indicators supplied by me!
2. No Moving Averages, no Fibos, no other Moving Average based indicators
are allowed in this thread! No indicators other than stated in point 1.
3. Trend lines and Andrew's Pitchfork are allowed.
4. There might be singular exclusions upon my decision for educative reasons
as negative examples or examples necessary for the context of the post.

I am willing to help anybody who is willing to follow my rules.
Anybody who will post charts that do not apply to the above rules
will be reported and cleaned up, and I will not be able to help them.
Trade the facts, not opinions.
  • #1,163
  • Edited 4:58pm Apr 19, 2013 4:48pm | Edited 4:58pm
Quoting Dadas
Why didn't you close it? Post your trades! Charts with your trades. Do you know how to do that? I will show you how you were supposed to do it. Then, you will learn. Nobody is going to laugh, here! You have a one in your lifetime opportunity that some stupid guy Dadas wants to help you for free! Take the opportunity! MM and R/R are just ideas if you can not enter right, if you do not know what you are doing! Example 1: Take R/R 1:100 SL = 100 Pips (your risk) TP 10000 Pips (your reward) You have got 100 shots blindfolded - you do not know what you...
RR is not about risk/reward ratio only. Its also the win/loss distribution. Its always wiser to enter the trade near the area you know you will be wrong if price reach it. Doing it this way one is able to open bigger position and secure it much earlier. Before entering the trade decide where your analysis is not right and calculate your lot size and thats about it. Plain and simple.

BTW...
Watch NZDUSD next week becouse we might see some strong bearish reaction
NZD central bank will probably try to weaken its currency on Tuesday and W1 PA is sugesting downside aswell.

NU D1
http://screencast.com/t/SO1N7lWq
  • #1,164
  • Apr 19, 2013 5:32pm Apr 19, 2013 5:32pm
Quoting Dadas
! Anyway, the result is +172 Pips. .....But, rules are rules!
Wow! That is a Great trade!
  • #1,165
  • Apr 19, 2013 6:07pm Apr 19, 2013 6:07pm
Quoting markup
RR is not about risk/reward ratio only. Its also the win/loss distribution. Its always wiser to enter the trade near the area you know you will be wrong if price reach it. Doing it this way one is able to open bigger position and secure it much earlier. Before entering the trade decide where your analysis is not right and calculate your lot size and thats about it. Plain and simple. BTW... Watch NZDUSD next week becouse we might see some strong bearish reaction NZD central bank will probably try to weaken its currency on Tuesday and W1 PA is...
Isn't that kind of a catch 22 though? You have to wait for price to move away from the area you know you will be wrong to get confirmation. In doing this you end up with a reduced risk reward.
  • #1,166
  • Apr 20, 2013 2:12am Apr 20, 2013 2:12am
Quoting Bookman
Isn't that kind of a catch 22 though? You have to wait for price to move away from the area you know you will be wrong to get confirmation. In doing this you end up with a reduced risk reward.
Thats up to you how much confirmation you need before entering the trade. Personally i open atleast small part of position without any confirmation if i consider the level/area to be strong enough. The most uncomofortable (when it looks like price wants go to moon) entries are often the best ones.
  • #1,167
  • Apr 20, 2013 3:07am Apr 20, 2013 3:07am
Quoting markup
RR is not about risk/reward ratio only. Its also the win/loss distribution.
Yes, I wrote about it several times.
I called it effectivity.
I wrote that effectivity should be at 70% in order for R/R to make any sence.
In other words win/loss = 70%/30%.

Quoting markup
Its always wiser to enter the trade near the area you know you will be wrong if price reach it. Doing it this way one is able to open bigger position and secure it much earlier. Before entering the trade decide where your analysis is not right and calculate your lot size and thats about it. Plain and simple.
Right:
"If Long is not right, here, check if Short fits in."
"If Short is not right, here, check if Long fits in."

It is plain and simple, if you know what you are doing!

A Trader who does not even know why they are Entering Short,
or it is "RSI that indicates Short at H4" can not practise this logic!

Quoting markup
BTW... Watch NZDUSD next week becouse we might see some strong bearish reaction NZD central bank will probably try to weaken its currency on Tuesday and W1 PA is sugesting downside aswell. NU D1 http://screencast.com/t/SO1N7lWq
Thanks!
You can be the fundamentalist, here!

Just, as long as you, guys, do not fix your minds on this prediction.

Like markup says: Watch Price Action!
Trade the facts, not opinions.
  • #1,168
  • Apr 20, 2013 3:17am Apr 20, 2013 3:17am
@Bookman & markup

Please, discuss other strategies unrelated to this thread in PM.

This thread is about Price Action with the application of CSCZ, Zone Candle, TBCZ and PTECZ.

As much as I appreciate hints and tricks to support the trade, I show, herein,
how to Enter and Exit Trades upon the Price Consolidation Zones which are
represented as CSCZ, Zone Candle, TBCZ and PTECZ.

Other Market Entering and Exiting Strategies should be discussed elsewhere!

The logical hint that: "If not Long, then Short." or "If not Short, then Long."
is welcome. Other than that, please try not to go Off Topic too much!
Trade the facts, not opinions.
  • #1,169
  • Apr 20, 2013 3:26am Apr 20, 2013 3:26am
Hi Dadas!

thank you very much for your grate work. the kind of stuff you provide is what I was searching for long time. I normally use naked candlestick charts. but it was in raw condition. your indicators are very useful tools.
keen to learn form you. I will post my trades soon. on fir-day test trade was +83 pips
don't predict direction, but dance with flow of water
  • #1,170
  • Apr 20, 2013 4:04am Apr 20, 2013 4:04am
Quoting Pipanje
Hi Dadas and all, Yesterday/today I had my two trades, and first looser with Dadas PTECZs. I was aiming to go long on 30m PTECZ in middle green up to Blue 1 HR PTECZ, after 1HR break up candle. I did and I was SLd(bad MM and did not see 4hr PTECZ) but did not give up, after couple of hours price came down to lower 30M PTECZ in green, so I thought that I can make it in two trains rather than one all the way to the Blue. I went long up to the middle green PTECZ. I recouped my loss and bit more, but today I missed the second train to Blue PTECZ. Never...

Hi Dadas,

please let me know where is the "local top" on chart above when Pipanje decide to go long.

Thank you.
Pursue the best and share to others!
  • #1,171
  • Apr 20, 2013 4:31am Apr 20, 2013 4:31am
The best way to make this work, for you, is to decide which TF and instrument you want to trade and then experiment with different combination of tools and techniques, that Dadas has freely shared with us, until you find a combination that works for you.

If you are new to trading you might struggle with this because it does take time to understand. There are not any set rules to follow so it's up to the individual to make it work for them.

I have been looking for a way to make trading daily charts work for me I might be on to something by looking for PTECZ that occur at Weekly swing points... EUR/USD
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 20th Apr 13 EUR:USD M1 Chart.png Size: 95 KB
Click to Enlarge Name: 20th Apr 13 EUR:USD W1 Chart.png Size: 121 KB
Click to Enlarge Name: 20th Apr 13 EUR:USD D1 Chart.png Size: 131 KB
Click to Enlarge Name: 20th Apr 13 EUR:USD D1 Chart 2.png Size: 112 KB
  • #1,172
  • Edited 5:49am Apr 20, 2013 4:33am | Edited 5:49am
@Bookman

GBPJPY H1:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpyh1_002.png Size: 71 KB


GBPJPY M5:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpym5_002.png Size: 62 KB

On Friday evening, a few hours before Market Closes you must be suicidal to
Enter any Trade if you do not know what you are doing.

Never leave a Trade Open for the weekend, if you are Day Tading!
Trade the facts, not opinions.
  • #1,173
  • Apr 20, 2013 4:55am Apr 20, 2013 4:55am
@Bookman

EURUSDM30:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm30_001.png Size: 75 KB


Unless you want to take it from M5:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm5_002.png Size: 70 KB
Trade the facts, not opinions.
  • #1,174
  • Edited 5:57am Apr 20, 2013 5:41am | Edited 5:57am
Quoting kawangkoan
Hi Dadas, please let me know where is the "local top" on chart above when Pipanje decide to go long. Thank you.
If Pipanje decided to go Long, the Base PTECZs would be H1 Candle_Index 52 & 48.
Because that is where the Bearish Trend Ended.

Then we have the H1 Candle_Index 102 & 28 PTECZs which overlap,
but Price has already bounced of those PTECZs.

The next Stop on Bullish Trend is at H1 Candle_Index 78.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh1_001.png Size: 76 KB


I do not know which Tf Pipanje Entered the Trade from,
but it looks like he just took a wild shot and got lucky!
The M30 Candle he Entered Long was not Closed and Price was on the Bearish retrace.
In other words, Pipanje did not know where the Price was going next.
The Price was going Down at that moment. Pipanje did not have a signal for Long!
It looks like Pipanje reacted on the current M30 Candle when it was in "Green" for the moment.
This is not what I teach in this thread!

The opportunity to go Long was later, when Price Broke Up from H1 PTECZ and retraced back to it.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm30_002.png Size: 72 KB


Conclusion:
Pipanje is still shooting blindfolded.
He is making decisions upon the the current unclosed Candle.
He is acting against every PTECZ principle I teach in this thread.

The only thing Pipanje is doing right is going with the current Trend.
Trade the facts, not opinions.
  • #1,175
  • Apr 20, 2013 6:11am Apr 20, 2013 6:11am
Quoting Dadas
Pipanje did not know where the Price was going next.... it looks like he just took a wild shot and got lucky!
Conclusion: Pipanje is still shooting blindfolded. He is making decisions upon the the current unclosed Candle. He is acting against every PTECZ principle I teach in this thread. The only thing Pipanje is doing right is going with the current Trend.
Thats rather harsh statement , dont you think?

I can totally see a reason to go long there and your claim about him being lucky just becouse you did not see it coming is disrespectfull and plain rude.
Only becouse you had your PTECZ in different way doesnt make anybody wrong. Your "teachings" are rather ambigious and leave a lot of space for personal interpretation so you should keep in mind the fact that some thread participants might do it their way.
  • #1,176
  • Apr 20, 2013 6:19am Apr 20, 2013 6:19am
Quoting stevepatt
The best way to make this work, for you, is to decide which TF and instrument you want to trade and then experiment with different combination of tools and techniques, that Dadas has freely shared with us, until you find a combination that works for you. If you are new to trading you might struggle with this because it does take time to understand. There are not any set rules to follow so it's up to the individual to make it work for them. I have been looking for a way to make trading daily charts work for me I might be on to something by looking...
The only thing you are struggling with, stevepatt, is your own self.

The point to start is when you want the Trades to take place.
Your local time for Entering the Market?
Your local time for Exiting the Market?
During which sessions the Trade will be open?

If, as I assume from your earlier posts, the Trade will stay overnight, ie. 8-10 hours,
then, you need the Average Range for this period of time to estimate if the PTECZ
Stop levels fit in. And, you need the H4 PTECZ context, not wider.

The Weekly PTECZ levels are extra information for extreme SR levels when Price reaches
these levels. Then they are important, because that is where a lot of action takes place
and that is where the direction is decided upon. Same goes for Monthly PTECZs, when Price
reaches the extremes! So, the Weekly PTECZ apply when Price reaches them.
When Price is inside Weekly, D1 and H4 PTECZs play the important role!

That is why you need the Global Positioning, to know if the Price is not at some more important turn!

It is illogical to assume Price will reach some W1 PTECZ, when the distance is still long
and there are D1 & H4 PTECZs on the way! And the Average Range must be within sence!

So, it is not so complicated!

Know your Global Positionig.
Find the Base PTECZ.
Find the Long Stop PTECZ (considerring the Average Range).
Find the Short Stop PTECZ(considerring the Average Range).

See what PA tells you about direction.
Set TP (sensibly) and SL according to R/R.

That is all!
There is nothing else to it!
Trade the facts, not opinions.
  • #1,177
  • Edited 7:17am Apr 20, 2013 6:36am | Edited 7:17am
Quoting markup
Thats rather harsh statement , dont you think? I can totally see a reason to go long there and your claim about him being lucky just becouse you did not see it coming is disrespectfull and plain rude. Only becouse you had your PTECZ in different way doesnt make anybody wrong. Your "teachings" are rather ambigious and leave a lot of space for personal interpretation so you should keep in mind the fact that some thread participants might do it their way.
I do understand that people are always "smarter" and they always try to figure things their own way!

And yes, some harsh words are required from time to time.
I see this on Pipanje's chart. Pipanje entered upon the current Candle being in "Green" at the moment.

Wheather I saw it coming or not has nothing to do with my PTECZ method.
To see something coming is prediction.
My method excludes any prediction!

My "teachings" may be ambigious if you choose to see it that way.

For me they are not ambigious, because the Price always proves the PTECZ right!

The ability to recognise the appropriate PTECZs to the given situation on the chart
takes some time and practise.

I will give you my explanation why the PTECZ is not ambigious and must always work:

Apart from the National Banks which genarate the Big Movements the next factor is Hedge Funds.
The word "Hedge" should be enough for you to see why the PTECZ must always work, why
Price must always react at the same or similar levels.

The next reason is the Economic Principle that Balance is always = 0.
You would not be able to place a market order if there were not the opposite party!

The Price moves Up, because there are already Orders to Sell at some High.
The Price moves Down, because there are already Orders to Buy at some Low.

Thus, the Price must react in some way to every PTECZ level.
Sometimes it will stall, sometimes it will stall and continue, sometimes it will
stall and reverse. There is nothing ambigious to the PTECZ concept!
It is the understanding of the Market.

People do not understand the workings of the Market.

They invent their own ideas.

But, those ideas are not the real thing, they are only imaginations.

Thus, my harsh words.

You, either open your eyes, or your Ego fights against!

PS.
But, yes, the PTECZ is powerful enough for people to Profit if they only go along
with the Trend and have their R/R and MM in the right place.

But, I am the "Master", so I expect my "Followers" to attempt to match me or be even better!
Trade the facts, not opinions.
  • #1,178
  • Apr 20, 2013 6:58am Apr 20, 2013 6:58am
Quoting Dadas
I do understand that people are always "smarter" and they always try to figure things their own way! And yes, some harsh words are required from time to time. I see this on Pipanje's chart. Pipanje entered upon the current Candle being in "Green" at the moment. Wheather I saw it coming or not has nothing to do with my PTECZ method. To see something coming is prediction. My method excludes any prediction! My "teachings" may be ambigious if you choose to see it that way. For me they are not ambigious, bacause the Price always proves the PTECZ...
Claim that Market will always react to S/D zone (which you call for some reason PTECZ) is prediction. And not a good one becouse nothing in the market is 100% hence i have real doubts about your background here. It only takes one big player to break important S/D zone without much of a hiccup. Every action in the markets is based on our expectations/predictions based on our understanding of how it works.

Price moves up only becouse someone is consuming liquidity on the ask side and opposite for move down... but that have nothing to do with the fact that traders leave their sell/buy orders at important S/R areas.

I think you meant hedge funds, not hedging funds. They dont have anything to do with word "hedging" you are talking about beside the name . Not all of the markets have Balance = 0. Sadly i can see that your knowledge about the market falls short when you try to redirect discussion onto a new topic.
  • #1,179
  • Apr 20, 2013 7:15am Apr 20, 2013 7:15am
Quoting markup
Claim that Market will always react to S/D zone (which you call for some reason PTECZ) is prediction. And not a good one becouse nothing in the market is 100% hence i have real doubts about your background here. It only takes one big player to break important S/D zone without much of a hiccup. Every action in the markets is based on our expectations/predictions based on our understanding of how it works. I think you meant hedge funds, not hedging funds. They dont have anything to do with word "hedging" you are talking about beside the name...
markup,

As much as I appreciate your presence here, please, do not try to undermine my person.

OK, hedge funds it is!

I will correct myself, I am sometimes not so precise at names.

From the Traders point of view it is 0.

Your broker will not take your Market Order if there is not the opposite Party.

And, I am not trying to redirect the disscusion to any new topic.

Your presence on my thread is ambiguous from the begining.
You said you liked the PTECZ idea, yet, you are not a follower, here.

What would be the reason for your presence, here?

Are you looking for reasons to undermine my method, to prove me wrong?

It is a very keen way to destroy your "enemy" - join them and destroy from within!

I am too old a fox to fall for such machinations.

My knowledge of the Market is what it is.

It is sufficient to have invented a very good method of trading, highly efficient,
relatively simple and good for nearly every trader.

I invite you to stay, here, however if you are not interested in my method and you will
only visit my thread to look for reasons to prove me wrong, then I will ask you to leave
and go find another "victim"!

So, what will it be?
Trade the facts, not opinions.
  • #1,180
  • Apr 20, 2013 7:24am Apr 20, 2013 7:24am
Quoting Dadas
markup, As much as I appreciate your presence here, please, do not try to undermine my person. OK, hedge funds it is! I will correct myself, I am sometimes not so precise at names. From the Traders point of view it is 0. Your broker will not take your Market Order if there is not the opposite Party. And, I am not trying to redirect the disscusion to any new topic. Your presence on my thread is ambiguous from the begining. You said you liked the PTECZ idea, yet, you are not a follower, here. What would be the reason for your presence, here? Are you...
Fair enough. I'm sorry for my harsh tone in my last post but its only coming from the fact that i don't tolerate bold claims when they are not entirely true.
I've learnt to question everything hence the nature of my posts here. From now on i'll stop being a pain in a** here... Promise
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