Price Action in Day Trading by Dadas | Page 115 | Forex Factory

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Price Action in Day Trading by Dadas

  • #2,281
  • Edited 12:42pm May 26, 2013 12:26pm | Edited 12:42pm
Quoting Tok
Dadas, what is your opinion on news announcements? For day traders, there is a chance big moves from news could take out profits or even SL.
So?
You know when the news is.
Watch PA and take advantage!

If you do not have the abilities, don't Trade at news times!

I have proven many times that PA knows what will happen!

Your SL is part of the game!

Accept it and continue. As long as your R/R is right!


PS.
Again, if you do not know what Risk/Reward Ratio is, go and learn.
If you do not have the ability to recognise Pip Potential according to Daily Range
and you do not know if you are at the Bottom or at the Top, thus
you can not judge or measure your R/R, then your Trading is only gambling.

You see, the road is long, very long, before you get there!
Trade the facts, not opinions.
  • #2,282
  • May 26, 2013 12:59pm May 26, 2013 12:59pm
Quoting Dadas
{quote}So?You know when the news is.Watch PA and take advantage! If you do not have the abilities, don't Trade at news times! I have proven many times that PA knows what will happen! Your SL is part of the game! Accept it and continue. As long as your R/R is right! PS.Again, if you do not know what Risk/Reward Ratio is, go and learn.If you do not have the ability to recognise Pip Potential according to Daily Rangeand you do not know if you are at the Bottom or at the Top, thusyou can not judge or measure your R/R, then your Trading is only gambling....
What R/R ratio do you recommend?
  • #2,283
  • May 26, 2013 1:02pm May 26, 2013 1:02pm
I would like to learn about your system. Is there anyway that I can download this program system?
  • #2,284
  • May 26, 2013 1:32pm May 26, 2013 1:32pm
Quoting Trader2000
I would like to learn about your system. Is there anyway that I can download this program system?
This is not an EA. you need to read the thread.
  • #2,285
  • May 26, 2013 3:18pm May 26, 2013 3:18pm
Quoting Trader2000
I would like to learn about your system. Is there anyway that I can download this program system?
You are welcome to learn!

Please, start from Post# 1.
Trade the facts, not opinions.
  • #2,286
  • May 26, 2013 3:19pm May 26, 2013 3:19pm
Quoting Tok
{quote} What R/R ratio do you recommend?
Anything from 1/2 up.
Trade the facts, not opinions.
  • #2,287
  • May 26, 2013 3:23pm May 26, 2013 3:23pm
czesc Dadas widze ze z Polski jestes
The market was bullish, turned bearish, and you'are brokish!!!
  • #2,288
  • Edited 3:52pm May 26, 2013 3:34pm | Edited 3:52pm
Dadas,

My first time to this thread. Have been reading the posts and has caught my attention with your methodology. Had to read several times and understand the concept. I will post as I go along reading more pages. I understand Top/Down analysis, consolidation. PTECZ, TBCZ and learning more as I go along. I do not trade forex and trade the eminis and use Ninja and create the charts (so isn't easy, however, what you have to say has been very revealing).

I have issues with which PTECZ or for that matter TBCZ take preference as I can see several. As an example, page 21, post #420, you have in purple PTECZ drawn prior to news announcement. However, before that is another PTECZ above which I would have drawn and the first spike after the news passed your PTECZ and stopped in to the PTECZ above and retraced straight back down. You drew the PTECZ I was talking on Page 22, post # 422.

The question is not the PTECZ you have drawn, I am asking for your expert guidance which PTECZ's should be considered when there are some in the vicinity?

Likewise, post #402, the second chart shows 30 minute PTECZ resistance and just prior to this PTECZ you drew, there is one (with the clear spike/shadow) that I would have drawn.

So, I just need your advice and shed some light as a rule of thumb, as to which PTECZ is a better one. I have been applying your technique on my ES (e-mini chart) and some times run in to this dilemna.

I use Day chart as background and then drill it down to hour PTECZ's and refine it with 30 minutes as you see a changing picture when you zoom in lowre time frames.

It is obvious you are some one who has has been in the battle and over many years through perseverance (when the going gets tough, the tough get going) and with constant struggle to find answers has evolved not to mention the deep philosophical answers to the posts. It is truly great to have stumbled across this thread.

Thanks, Sam
  • #2,289
  • May 26, 2013 3:57pm May 26, 2013 3:57pm
Quoting FXThug
czesc Dadas widze ze z Polski jestes
Czesc!

Yes, I am, from Poland.
This is an international community, so we post in English,
so everybody can understand!
Trade the facts, not opinions.
  • #2,290
  • May 26, 2013 4:11pm May 26, 2013 4:11pm
Quoting Dadas
{quote}Czesc! Yes, I am, from Poland.This is an international community, so we post in English,so everybody can understand!

I know Dadas
I will fallow Your thread and tomorrow know Your metology.
Pozdrówki
The market was bullish, turned bearish, and you'are brokish!!!
  • #2,291
  • May 26, 2013 4:12pm May 26, 2013 4:12pm
Quoting sam777
I am asking for your expert guidance which PTECZ's should be considered when there are some in the vicinity?
Welcome Sam!

I am glad that you have decided to post!
All of your questions have already been answered.
You, just have not come there, yet.
This is Post# 2291, so there is a long road before you.

Use the Daily Range and ADR to estimate where the Price can, potentially go.
But, be aware of the next Stop, if the Price decides to Break.
We do not know exactly where the Price will, actually go!

The important thing is to know the Potential Stops and Enter according to the direction
which Price is most likely to go by Price Action and Supply / Demand.
Knowing your Pip Potential and your R/R, you can decide if it is worth the Risk!

Just, continue your journey.
You will find all the answers.

Philosophically:
You can not ask a question which has not already been answered!
Trade the facts, not opinions.
  • #2,292
  • May 26, 2013 4:15pm May 26, 2013 4:15pm
Quoting FXThug
{quote} I know DadasI will fallow Your thread and tomorrow know Your metology.Pozdrówki
Great!

Some people are fast, some are slow.
Everyone has their own path!
Trade the facts, not opinions.
  • #2,293
  • May 26, 2013 4:38pm May 26, 2013 4:38pm
Some are asking for the PipTracker.mq4
Well, this is something I modified, so the core code is not mine.
I used the ProfitTracker.mq4 I found on the net, and just
based on the initial code, introduced my own styles and ideas.
Attached Image

Quotient - 1 for 4-Digit Quotations, 10 for 5-Digit Quotations.
For instruments like GOLD or 3-Digit quotations it should be 10, but you can see and change that.
It will, then show actual Pips like the EURUSD standard Pips. For GOLD, too.

It shows the chosen:
Month, Week, Day, Hour, Float Pips of the Symbol it is on.

Of course, in order to see the Month your MT4 Orders History
must be set to show at least the whole Month.

It can not show the total Pips of all Symbols,
because of the different Quotients for different instruments.

This issue can not be solved in any logical way for all brokers and all Symbols!

The rest should be obvious.

I can not post it in Post# 1, because I have already reached the maximum attachments for one post.
Attached File(s)
File Type: mq4 PipTracker.mq4   9 KB | 392 downloads
File Type: ex4 PipTracker.ex4   11 KB | 359 downloads
Trade the facts, not opinions.
  • #2,294
  • May 26, 2013 4:50pm May 26, 2013 4:50pm
i have suggestion for ptecz trader.


i think there must be different colour for M,W,D,H4,H1,M30,M15,M5 PTECZ.


i change them one by one.(take time) it is easy to see on chart with different colour.
  • #2,295
  • May 26, 2013 5:05pm May 26, 2013 5:05pm
Quoting P.Action
i have suggestion for ptecz trader. i think there must be different colour for M,W,D,H4,H1,M30,M15,M5 PTECZ. i change them one by one.(take time) it is easy to see on chart with different colour.
Yes, that is the idea.
That is why you have the options to change the colors!
So that you can adjust the colors to your own prefferences!
Trade the facts, not opinions.
  • #2,296
  • May 26, 2013 5:10pm May 26, 2013 5:10pm
Quoting Dadas
{quote}Yes, that is the idea.That is why you have the options to change the colors!So that you can adjust the colors to your own prefferences!

it can be template. i do all using
  • #2,297
  • May 26, 2013 5:19pm May 26, 2013 5:19pm
Quoting P.Action
{quote} it can be template. i do all using
I do not have possibility to add more attachments to Post# 1.
I can not do everything for you!
Practise is good for you!
Practise with using all functions of the PTECZ_Trader.
Trade the facts, not opinions.
  • #2,298
  • May 26, 2013 5:48pm May 26, 2013 5:48pm
Quoting Dadas
{quote}I do not have possibility to add more attachments to Post# 1.I can not do everything for you!Practise is good for you!Practise with using all functions of the PTECZ_Trader.

it is okey. it is just a suggestion.
  • #2,299
  • May 26, 2013 5:57pm May 26, 2013 5:57pm
no mans land 10 pips scalp. done by m30 ptecz.


i got 10 pips from 22 pips. good start for new week.

Attached Image (click to enlarge)
Click to Enlarge Name: Ashampoo_Snap_2013.05.27_01h50m34s_001_.jpg Size: 199 KB

  • #2,300
  • May 26, 2013 7:09pm May 26, 2013 7:09pm
Just want to say it I am looking at the price action now using your system and I just want to say that this is one of the best, most simpler but very effective system I have seen in the past 4 years. I just started working on it and I absolutely love this system. Thank you and happy pips to everybody.
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