Price Action in Day Trading by Dadas | Page 76 | Forex Factory

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Price Action in Day Trading by Dadas

  • #1,501
  • Apr 28, 2013 7:16pm Apr 28, 2013 7:16pm
This is a Classic example of the frustrations of trading PA.
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  • #1,502
  • Edited 1:20am Apr 29, 2013 12:56am | Edited 1:20am
Quoting EaglePip
This is a Classic example of the frustrations of trading PA. {image}
No, EaglePip, this is a classic example of either being resistant to knowledge, or
the inability to apply the knowledge due to little experience and lack of practise:
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And, what about the rule: "Enter Short at the Top?"

IOW: You still have very little idea of what you are doing!
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You need a lot of practise and experience so that you can see
what is going on instead of being overwhelmed by the emotions
of the current Action!
Trade the facts, not opinions.
  • #1,503
  • Apr 29, 2013 1:43am Apr 29, 2013 1:43am
I agree on lack of experience and practice and failure to apply knowledge correctly. Yes, did not follow the Enter short at Top rule, as price was already breaking down so used Sell Stop below the PTECZ.
Not sure about the significance of the Pteczs with Break Up. There were also Pteczs with Break down and eventually Price did break down.
I can see I need a lot more practice to read and interpret the signs!
Thanks for the guidance.
  • #1,504
  • Apr 29, 2013 2:13am Apr 29, 2013 2:13am
Quoting EaglePip
I agree on lack of experience and practice and failure to apply knowledge correctly. Yes, did not follow the Enter short at Top rule, as price was already breaking down so used Sell Stop below the PTECZ. Not sure about the significance of the Pteczs with Break Up. There were also Pteczs with Break down and eventually Price did break down. I can see I need a lot more practice to read and interpret the signs! Thanks for the guidance.
PTECZs are the visualisation of PA.
They are Potential Trend Ending Consolidation Zones.

Understand that - finally!

They show you where Price is Consolidating!

If Price is Consolidating, it means that this is some S/R level!

You were working at M5 chart.
Thus, you were scalping without having realised what you were doing!

Where is your Global analysis from MN?
People say why they must do the Global analysis?
If you can not read PA properly, you need the whole picture.
You need to know the Trend you want to work with.
You need to know your Potential Stops.

Otherwise, you are nowhere, in unknown land!
Trade the facts, not opinions.
  • #1,505
  • Apr 29, 2013 2:45am Apr 29, 2013 2:45am
@EaglePip

Get yourself a widescreen monitor or two 17 inch monitors and expand the chart.
Get the picture! It was pretty clear from the begining!
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That is what the whole theoretical part in the begining of this thread is for!
If you can not read PA, you have got to learn.
The CSCZ is pure PA in visual form!
TBCZ and PTECZ is pure PA in visual form!

Stop trying to understand what is not there!

Just use the tools I have given to you!
Trade the facts, not opinions.
  • #1,506
  • Apr 29, 2013 10:40am Apr 29, 2013 10:40am
Could someone tell me if my zones are drawn correctly please.

They are attached i don't know how to put them directly into my post.
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Keep your blades sharp!
  • #1,507
  • Apr 29, 2013 11:19am Apr 29, 2013 11:19am
Quoting Nametaker
Could someone tell me if my zones are drawn correctly please. They are attached i don't know how to put them directly into my post. {image} {image} {image}
First: Can't tell you if the Monthly PTECZs are correct if you do not post the MN chart.

The D1 and H4 PTECZs are correct.

You can find the PTECZs.

Now, you need to answer why those ones?
Trade the facts, not opinions.
  • #1,508
  • Apr 29, 2013 11:56am Apr 29, 2013 11:56am
Quoting Dadas
{quote} First: Can't tell you if the Monthly PTECZs are correct if you do not post the MN chart. The D1 and H4 PTECZs are correct. You can find the PTECZs. Now, you need to answer why those ones?
Ok, i went short because the price rejected of H4. I then set the T/P to just before the H4 below.
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Keep your blades sharp!
  • #1,509
  • Apr 29, 2013 12:30pm Apr 29, 2013 12:30pm
Quoting Nametaker
{quote} Ok, i went short because the price rejected of H4. I then set the T/P to just before the H4 below. {image} {image} {image} {image} {image}
Why did you jump under the running train?
Why didn't you go Short on retrace back up?
This type of trading will get you SL.
It is just the hour, now when market is slow.
Normally you have SL guaranteed!

The rule is to Enter Short as High as possible!
Not when the Price is running Low.

If you are waiting for Break Down, then wait for retrace back up to the PTECZ or as close as possible!

And, what was the purpose of all the higher Tf PTECZs if they are so far away?
Trade the facts, not opinions.
  • #1,510
  • Apr 29, 2013 12:40pm Apr 29, 2013 12:40pm
@Nametaker

And, one more thing.
Why do you expect the Price to go Down so much on a strong Bullish Trend?
Where did you get the idea from?

Do you have any information about the reversal of Trend?

You are going against Trend at the End of the Day,
obviously on the formation of the Daily Candlestick Shadow,
and you want what? The Price to eat up half of Friday?

You do not know what you are doing!
Trade the facts, not opinions.
  • #1,511
  • Apr 29, 2013 12:59pm Apr 29, 2013 12:59pm
@Nametaker

This is all you needed for now:
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But, this is not the right time to be Trading.
Unless you are going for Intraday.
Trade the facts, not opinions.
  • #1,512
  • Apr 29, 2013 1:08pm Apr 29, 2013 1:08pm
Quoting Dadas
@Nametaker And, one more thing. Why do you expect the Price to go Down so much on a strong Bullish Trend? Where did you get the idea from? Do you have any information about the reversal of Trend? You are going against Trend at the End of the Day, obviously on the formation of the Daily Candlestick Shadow, and you want what? The Price to eat up half of Friday? You do not know what you are doing!
I told u in the PM iv only been trading a couple of months, so obviously i dont know your system after only a few days of reading up on it.

I rushed into the trade thinking it would consolidate and go short. I jumped into the trade without taking the general trend into account. Simple mistake, thats all. Its only demo after all.
Keep your blades sharp!
  • #1,513
  • Apr 29, 2013 1:09pm Apr 29, 2013 1:09pm
@Nametaker

But, as far as Intraday is concerned, I do not see any Short signal!
Not on MN, not on W1, not on D1, not on H4, not on H1.

So, what are you Trading?
Trade the facts, not opinions.
  • #1,514
  • Apr 29, 2013 1:14pm Apr 29, 2013 1:14pm
Quoting Nametaker
{quote} I told u in the PM iv only been trading a couple of months, so obviously i dont know your system after only a few days of reading up on it. I rushed into the trade thinking it would consolidate and go short. I jumped into the trade without taking the general trend into account. Simple mistake, thats all. Its only demo after all.
No, it is not only demo, after all!

If you are playing games, fooling around, go to some other thread for newbies!

If you are serious about learning, the demo is your real account!
If you are serious about learning, I am giving you the opportunity!

Otherwise, do not waste my time and yours!
Trade the facts, not opinions.
  • #1,515
  • Apr 29, 2013 1:17pm Apr 29, 2013 1:17pm
Quoting Dadas
{quote} No, it is not only demo, after all! If you are playing games, fooling around, go to some other thread for newbies! If you are serious about learning, the demo is your real account! If you are serious about learning, I am giving you the opportunity! Otherwise, do not waste my time and yours!
Ok
Keep your blades sharp!
  • #1,516
  • Apr 30, 2013 1:22am Apr 30, 2013 1:22am
I would appreciate any help , these are the PTECZ I have marked .on EU/ H4,
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  • #1,517
  • Apr 30, 2013 5:05am Apr 30, 2013 5:05am
Quoting robuk
I would appreciate any help , these are the PTECZ I have marked .on EU/ H4, {image}
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Why can't you just stick to Entry Rules?
Why do you jump under the running train?
Trade the facts, not opinions.
  • #1,518
  • Apr 30, 2013 5:19am Apr 30, 2013 5:19am
Quoting Dadas
{quote} {image} Why can't you just stick to Entry Rules? Why do you jump under the running train?
Yes , I know I dont need it now , I am just trying to learn to mark the zones correctly , as I see this as the first essential to learn . If I dont do this correctly , eveything after will be wrong .

I just want to know if they are correct , and if not , some help and guidance as to where I am going wrong .

I dont want to try to run before I can walk , I want to learn properly , step by step, because I know you are right ,PA is the only way to go .
This is demo - I dont jump under the train , just observing and trying to learn .
  • #1,519
  • Apr 30, 2013 5:47am Apr 30, 2013 5:47am
USDCHF
Closed it today, manually, because it was fooling with the TP.
It is taking too long, so 10 Pips away from TP is OK.
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Trade the facts, not opinions.
  • #1,520
  • Edited 6:04am Apr 30, 2013 5:52am | Edited 6:04am
Quoting robuk
{quote} Yes , I know I dont need it now , I am just trying to learn to mark the zones correctly , as I see this as the first essential to learn . If I dont do this correctly , eveything after will be wrong . I just want to know if they are correct , and if not , some help and guidance as to where I am going wrong . I dont want to try to run before I can walk , I want to learn properly , step by step, because I know you are right ,PA is the only way to go . This is demo - I dont jump under the train , just observing and trying to learn .
Ok, so post more PTECZs.
I will correct you, if you are wrong.

And, you want to say that you are learning if you can break the wall with your head
by banging your head against the wall? That is not the right way!

Learn by following the rules!

Develop good habits as early in your learning as possible!

Instead of checking if the train runs you over when you jump in front of it,
check if following the rules will get you safe!
Trade the facts, not opinions.
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