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Price Action in Day Trading by Dadas

  • #1,801
  • May 10, 2013 1:40pm May 10, 2013 1:40pm
Quoting finaclefx
Hi Dadas, I dont know why i'm losing this trade,pls see the chart.I entered on the trace after breakout the H1 candle three times at the RED VERITICAL LINE.pls comment,thanks! {image}
Maybe, it is because you do not know anything about Price Action and reading Candlesticks?
Because you have learned nothing?
Because you are going against the Trend?
Because you are fighting the Market instead of going along with it?
Because you have not applied any of my rules in this thread?

In other words, because you do not know what you are doing?

I do not see a single reason for going Long where you went Long!

I see only reasons to Sell at Top!

And, what Break Out are you talking about, when there isn't any?
Trade the facts, not opinions.
  • #1,802
  • May 10, 2013 1:47pm May 10, 2013 1:47pm
Quoting Dadas
{quote} Will you let me know when you make $1.000.000?

45 weeks later i will have
  • #1,803
  • May 10, 2013 1:48pm May 10, 2013 1:48pm
@finaclefx
Attached Image (click to enlarge)
Click to Enlarge Name: finaclefx.gif Size: 120 KB
Trade the facts, not opinions.
  • #1,804
  • May 10, 2013 1:53pm May 10, 2013 1:53pm
@finaclefx
Or, maybe it is because you learned from ejiexe, not from me???
Trade the facts, not opinions.
  • #1,805
  • May 10, 2013 2:09pm May 10, 2013 2:09pm
Quoting Hins
Hello Dadas and fellow traders, I've been learning from your thread for the past several days, thank you for the clean explanation of PA, and S/R areas. I wanted to share my 1st trade. This is on Demo account, and I will be practicing trading Gold on longer 1H TF due to my job (until being able to make consistent profits). Do you think my manually drawn 2nd and 3rd S/R areas are correct? The 1st area is inside the Custom_Zone_Candle(1440) indicator, and proved to be correct. Thanks and regards, hins {image}
Welcome Hins!

I prefer the PTECZ as S/R Zones!
Attached Image (click to enlarge)
Click to Enlarge Name: Hins.gif Size: 88 KB

The Candle Shadows are more the idea for important areas like strong rejections.

The area inside D1 Zone Candle is not necessary, you can see that, but if it helps, OK!
And, the PTECZ is universal!

But, I have developed a special system, not only for GOLD.
You can see it on my latest posted charts.

I will, soon, post this system in detail.
Trade the facts, not opinions.
  • #1,806
  • Edited 2:50pm May 10, 2013 2:35pm | Edited 2:50pm
This is next evidence that PTECZ knows the answer!
You just have to be patient, until the end!
Attached Image (click to enlarge)
Click to Enlarge Name: xauusd-m5-fxsalt-ltd.png Size: 63 KB

And, I do not even need the S/R PTECZs any longer!
My H4 H/L Lines show me where the Price is.
I can recognise the PTECZ Candles with my eyes!
Attached Image (click to enlarge)
Click to Enlarge Name: xauusd-m5-fxsalt-ltd-2.png Size: 64 KB
Trade the facts, not opinions.
  • #1,807
  • May 10, 2013 2:37pm May 10, 2013 2:37pm
Thank you Dadas, for your kind and prompt reply!

I realize now, even more than I was estimating before your reply, how important are the Candle shadows -- roots of forming PTECZ areas. And how imoprtant is to let the price action form those areas before deciding if the potential will be realized or not( i.e. a continuation or a breakout).
Will read on during the weekend...

Much appreciated,
hins
  • #1,808
  • May 11, 2013 2:31am May 11, 2013 2:31am
I have created the ultimate PTECZ Trader !

It is the Follow the PTECZ idea in 1 Indicator.
It is the All-in-one Trading tool!

It contains:
1. The Trading_Master_Tf for plotting the General Trading Context Levels (Trading style),
Attached Image

2. The Trading_Slave_Tf for plotting Candlesticks of Inside Trading Context in Zone Candle style,
Attached Image

3. The Follow_Tf_PTECZ for PTECZ Label and automatic PTECZs plotting,
Attached Image

4. The Helpers for showing the Period_Symbol_Time, Daily_Range_Stats, Candle_Time,
Attached Image


Still in testing!
PM if you want to know more!
Trade the facts, not opinions.
  • #1,809
  • May 11, 2013 4:46am May 11, 2013 4:46am
Happy Birthday for Monday

Hope I am not breaking the rules but I think this fits in with the Theme of the Thread anyway







A young monk arrives at the monastery.
He is assigned to helping the other monks in copying the old canons and laws of the church by hand.
http://uk.mg.bt.mail.yahoo.com/ya/do...d=YahooMailNeo
He notices, however, that all of the monks are copying from copies, not from the original manuscript.
So, the new monk goes to the Old Abbot to question this, pointing out that if someone made even a small error in the first copy, it would never be picked up! In fact, that error would be continued in all of the subsequent copies.
http://uk.mg.bt.mail.yahoo.com/ya/do...d=YahooMailNeo
The head monk, says, "We have been copying from the copies for centuries, but you make a good point, my son."
He goes down into the dark caves underneath the monastery where the original manuscripts are held as archives in a locked vault that hasn't been opened for hundreds of years.
http://uk.mg.bt.mail.yahoo.com/ya/do...d=YahooMailNeo
Hours go by and nobody sees the Old Abbot.
http://uk.mg.bt.mail.yahoo.com/ya/do...d=YahooMailNeo
So, the young monk gets worried and goes down to look for him. He sees him banging his head against the wall and wailing.
"We missed the R !; We missed the R !;
We missed the R !"
His forehead is all bloody and bruised and he is crying uncontrollably.
The young monk asks the old Abbot, "What's wrong, father?"
With a choking voice, the old Abbot replies,
"The word was ...
http://uk.mg.bt.mail.yahoo.com/ya/do...d=YahooMailNeo
. . ..CELEBRATE!"

We always have a choice to be right or kind,be kind you will learn more.
  • #1,810
  • May 11, 2013 4:55am May 11, 2013 4:55am
Quoting emailpat
Happy Birthday for Monday Hope I am not breaking the rules but I think this fits in with the Theme of the Thread anyway A young monk arrives at the monastery. He is assigned to helping the other monks in copying the old canons and laws of the church by hand. {image} He notices, however, that all of the monks are copying from copies, not from the original manuscript. So, the new monk goes to the Old Abbot to question this, pointing out that if someone made even a small error in the first copy, it would never be picked up! In fact, that error would...
Thank You!

But, where are the pictures?
Trade the facts, not opinions.
  • #1,811
  • May 11, 2013 5:03am May 11, 2013 5:03am
Quoting emailpat
"We missed the R !; We missed the R !; We missed the R !"
"The word was ... CELEBRATE!"
Yeah, they missed the R.

Others manipulate deliberately to show the untruth as truth!

Yet, others do not even realise they only see a small part of reality!

A lot of peole want the Mob to stay unaware of the truth!
Trade the facts, not opinions.
  • #1,812
  • May 11, 2013 5:20am May 11, 2013 5:20am
Dadas, thanks for your quite lentghy reply to me. Iīve read it twice.

On another note though. Iīm surprised you guys take so many trades. I donīt even have that number of trades in a week. Just out of curiostity, can I ask how many trades Dadas and others take on a daily basis. Just as an average if thatīs possible.

How is that possible if you donīt like to scalp? Youīre scalping the bigger trend donīt you? For example, if the trend is down youīd take several shorts a day?
  • #1,813
  • May 11, 2013 5:55am May 11, 2013 5:55am
Hereīs something I was really excited about.


Break up candle on the monthly. However, it reached the previous TBCZ Zone and so far itīs looking like a continuation of the downtrend.

Attached Image (click to enlarge)
Click to Enlarge Name: monthly.png Size: 40 KB



Confirmed by the weekly price reached a TBCZ Zone, maybe not ideal but it suited me here.

Attached Image (click to enlarge)
Click to Enlarge Name: weekly.png Size: 48 KB



And hereīs the daily in a downtrend. I waited for price to come back to where the arrow is.

Attached Image (click to enlarge)
Click to Enlarge Name: daily.png Size: 41 KB


So I narrowd it down to the 4H and then to the 1H (not posted but I think you get the idea)

Attached Image (click to enlarge)
Click to Enlarge Name: 4h.png Size: 47 KB


Itīs longer term I know. But I was surprised you guys take so many trades
  • #1,814
  • Edited 8:04am May 11, 2013 6:51am | Edited 8:04am
Quoting Christianfx
Dadas, thanks for your quite lentghy reply to me. Iīve read it twice. On another note though. Iīm surprised you guys take so many trades. I donīt even have that number of trades in a week. Just out of curiostity, can I ask how many trades Dadas and others take on a daily basis. Just as an average if thatīs possible. How is that possible if you donīt like to scalp? Youīre scalping the bigger trend donīt you? For example, if the trend is down youīd take several shorts a day?
Actually, I took 27 (edit: 29, just recounted) trades yesterday, from o few Pips, to ca. 30 Pips.
Yes, it was mainly scalping, but I was also testing my new ultimate PTECZ Trader .
It sort of, imposed the scalping style on me, because I was seeing all the PTECZs,
and I couldn't concentrate on the bigger picture.

But, that is my personal record in manual Trading!

Normally it is anything from 1 - 10 Trades a day, depending how things go.

And, with my new PTECZ Trader I actually think that with practise I might be going with the Price!

I know that it is possible to make 750 Pips a Day and more.

By small Lots and multiple Orders.

It really is not about the Pips, but the Pips worth, the Lots in Pips.

10 Lots can be 1 Order or 10 Orders of 1 Lot, etc.
Trade the facts, not opinions.
  • #1,815
  • Edited 7:30am May 11, 2013 7:09am | Edited 7:30am
Quoting Christianfx
But I was surprised you guys take so many trades
Most people who take a lot of Trades are actually scalping or going the wrong way
and Closing quickly, or they just scalp because they can not control emotions,
they do not know what is actually happening and they take the Profit as it comes.

A few days ago I Opened 3 Orders at the same area in the same direction and made 370 Pips.
And that is all, but the Orders stayed Open for about 4.5 hours.

I does not really matter how many Orders you take in a Day.

It can be 1 Order at +20 Pips, but regularly, every Trading Day,
and just that can get you rich, if you can do it consistently.

Yesterday, I actually lost 750 Pips in around 1 minute, but they were micro-Lots.
I was testing something and opend 7 micro-Trades in one Action Moment.
I was fully aware I was going against, that is why I used micro-Lots.

The Price stalled for a moment and went Down in a split of a second!

But, that did not hurt, because I made it up with the normal Lots.
My Pipsmeter showed about -550 Pips at the end of the Day,
but my account showed a very different picture!
Trade the facts, not opinions.
  • #1,816
  • May 11, 2013 7:54am May 11, 2013 7:54am
It, really is all down to psychology, at the end of the day!

It is the fear of Loss in us that suppresses our ability to Trade.

I know that even most of my "Followers" do not really believe
that it is that way. They do not believe even though they want to believe.

The problem is that they see or start seeing this on the charts.

People believe in the invisible!
Why did Moses need the support of God when he made the ammendments,
when he created the Laws or Rules for his people?

Because they would have never believed the Rules were good if it was Moses who created them!
Yes, I read the Bible, because I wanted to know what is actually there.
I also read it in English, to check if Polish and English contexts are the same.
They are not. They are just interpretations!

Why do people believe in different Religions, Dogma that can never be proven!

Why don't they believe in what they see on the charts?

Because it is there and anyone can see it is there!

Most people, including the Church, do not believe that
Jesus Resurrected and Redempted us of Sin!

They celebrate or rather celebate Jesus' Crucification and have
been Crucifying Jesus for 2000 years, plus!

Yes, they actually missed the R!

It is Celebrate Life!
Trade the facts, not opinions.
  • #1,817
  • May 11, 2013 10:42am May 11, 2013 10:42am
Hello Dadas,
Question regarding the multi zone candle indicator. Does it update itself or do I need to keeping placing it on the charts every week?
Thanks,
Paul
  • #1,818
  • May 11, 2013 12:00pm May 11, 2013 12:00pm
Quoting paul821c
Hello Dadas, Question regarding the multi zone candle indicator. Does it update itself or do I need to keeping placing it on the charts every week? Thanks, Paul
That depends which Candle you are plotting.

The index changes on every chart.
W1 Candle Index/Shift 1 is last week.
So, if you always want to see Last Week, then you do not need to do anything.

If you want the same W1 Zone Candle to stay there for 2 weeks in a row,
then next week you must change the Shift to 2.
Trade the facts, not opinions.
  • #1,819
  • Edited 12:44pm May 11, 2013 12:25pm | Edited 12:44pm
Quoting Christianfx
Hereīs something I was really excited about. Break up candle on the monthly. However, it reached the previous TBCZ Zone and so far itīs looking like a continuation of the downtrend{image} Confirmed by the weekly price reached a TBCZ Zone, maybe not ideal but it suited me here. {image} And hereīs the daily in a downtrend. I waited for price to come back to where the arrow is. {image} So I narrowd it down to the 4H and then to the 1H (not posted but I think you get the idea) {image} Itīs longer term I know.
EURUSD MN:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdmonthly.png Size: 70 KB

EURUSD H4:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh4.png Size: 56 KB

I don't know, Guys?
What's the philosphy, here?
Why do you complicate your lives?

You have the MN S/R PTECZs.
Price is, obviously in a current H4 PTECZ.

What is there to think?

It Breaks Up and retraces, it is Up.
It Breaks Down and retraces, it is Down.

Both directions are possible from this point of view.

EURUSD M1:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm1.png Size: 67 KB

And you could have gotten ca. +20 Long Pips at the end of Friday!

Earlier, you could have gone Short for another ca. +20 Pips.

That is how you make many Trades per Day.

And, the same view only with my PTECZ_Trader:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm1_ptecz_trader.png Size: 68 KB

M30 PTECZ auto-highlighted in box style.

Zoom out, M15:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm15.png Size: 64 KB


And this is how the earlier Swing Point looks like on M1:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm1_swing.png Size: 66 KB


Each H1 Candle is an Opportunity for Pips!
Both ways!

And you can learn to see it!
Trade the facts, not opinions.
  • #1,820
  • May 11, 2013 3:45pm May 11, 2013 3:45pm
Wanted to say hello. Excellent work and information on here, I have read the entire thread and half way through reading it again

Blown a few accounts over the years and wasted lots of time on indicators, could never make them work for me. Trading price action relatively succesfully for the past 12 months now. Going through this thread several lightbulbs have gone on and eureka moments have happened and I hope to continue to sharpen my developing skills with help from the generous people here. Thanks for all the hard work and I may get brave enough to post some of my analysis soon. Using templates and tools provided, love it.

Thanks and good luck
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