Attachments: Price Action in Day Trading by Dadas

Price Action in Day Trading by Dadas

#2,381
May 28, 2013 1:35am May 28, 2013 1:35am

Dadas
| Commercial User | Joined Sep 2012 | 3,282 Posts

Quoting finaclefx

Disliked

{quote} Sorry for late response,they closed at BE!

Ignored

If you had checked the news schedule earlier, you could have Closed Profit manually!
On Bank Holiday, there is not much sence in waiting for who knows what?

Trade the facts, not opinions.

#2,382
May 28, 2013 1:53am May 28, 2013 1:53am

Dadas
| Commercial User | Joined Sep 2012 | 3,282 Posts

Quoting abianfx

Disliked

Before go to work, quick analyze, looking for PTECZ on the chart, SET and GO to work sell on GU +15 pips{image} sell on UJ -10 pips --> little bit push my luck here, entry at TOP because not sure... {image} Dadas, please help to correct my decision... as always thanks. * screen capture was taken from free web chart** still need learn alot

Ignored

Your mistake was obvious.
You did not wait for PA signals in the PTECZ.
You only Assumed and Risked.
If you do not have enough time to wait, don't Trade the instrument.
Trade only those, whose PA is clear.

You forgot the Price in PTECZ rule!
PTECZ has no color!
PTECZ does not discriminate!
PTECZ is the Yellow Blinking Light!
PA is the answer!

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Not to mention, that you never did the Top - Bottom analysis!

And, if you only plotted the PTECZs, you could have had a Set-and-Go Trade, Long!

What was the reason to plot a PTECZ where there was no Trend???
You are looking for Trend End. That is why it is a PTECZ!

Trade the facts, not opinions.

#2,383
May 28, 2013 2:06am May 28, 2013 2:06am

Dadas
| Commercial User | Joined Sep 2012 | 3,282 Posts

Quoting sam69

Disliked

thank you dadas, for the indi,still experimenting with cleanup function on/off,here my ej chart,price broke daily ptecz up,but no retrace to yet,broke down from 5m ptecz and retrace back to top and i sold there,looking for down move to day-ptecz {image}

Ignored

Funny, but I was just discussing UJ with Darko40.
He made the same mistake.
H4 is strong Bullish.
Where are the reasons for Short at that moment?
Other than your assumption of what you think Price will do?
The retrace to D1 PTECZ for Long already took place.
Price is now in Consolidation, but I see no Short PA signals.
Acting upon what you think is not what I teach.
I teach to watch PA inside and around the PTECZ, in case you forgot!
PA says Long, as for now!
My logic says, do not Enter Long, because we are high as for Daily Range.
My logic says, do not Enter Long, because I can not judge Pip Potential and thus R/R.
My logic says, do not Enter Short, because there are no signals for Short.

What is your logic???

Trade the facts, not opinions.

#2,384
May 28, 2013 2:07am May 28, 2013 2:07am

Tok
| Joined May 2013 | Status: Trader | 437 Posts

Just got stopped out again. Entered trade on the open of new bar, and got stopped out at 40 pip SL.

Let's see what excuse Dadas makes this time...

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#2,385
May 28, 2013 2:19am May 28, 2013 2:19am

Dadas
| Commercial User | Joined Sep 2012 | 3,282 Posts

Quoting Tok

Disliked

So how am I supposed to know when to enter this trade? If I enter on a breakout candle, it'll just retrace and hit my SL, so PA doesn't work for this. You can't use PA to predict which way the price will go. Price will do what it wants. So I don't understand your method at all. {image}

Ignored

I know you don't understand my method, because you don't understand Price Action!
Give a reason to go Short on this chart!!!
H4 is strong Bullish, Trend is Bullish, why do you want to go Short???
Because you see 1 Candle trying to Break Bearish, but not able to?

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Trade the facts, not opinions.

#2,386
May 28, 2013 2:22am May 28, 2013 2:22am

Tok
| Joined May 2013 | Status: Trader | 437 Posts

Quoting Dadas

Disliked

{quote}I know you don't understand my method, because you don't understand Price Action!Give a reason to go Short on this chart!!!H4 is strong Bullish, Trend is Bullish, why do you want to go Short???Because you see 1 Candle trying to Break Bearish, but not able to?{image}

Ignored

You said earlier when I asked you, that it does not matter which direction the trend is going in.....

#2,387
May 28, 2013 2:23am May 28, 2013 2:23am

Dadas
| Commercial User | Joined Sep 2012 | 3,282 Posts

Quoting puppypippy

Disliked

{quote}OK I will continue reading your thread. In the mean time is there a PDF or something that could help me with my profit and loss targets and any other techniques I seem to be missing? I will post some charts when I next trade.

Ignored

I do not know what you are missing, but I have described
many times how to measure and estimate Pip Potential with Daily Range Stats.
R/R is simple, 1/2 or the higher, the better.
If Pip Potential fits into your R/R,
and you can Enter where your SL fits into your R/R, you are good.
Otherwise, do not Enter!

Trade the facts, not opinions.

#2,388
May 28, 2013 2:25am May 28, 2013 2:25am

Tok
| Joined May 2013 | Status: Trader | 437 Posts

And you are supposed to enter at the TOP OF THE SELL OR AT THE BOTTOM OF THE BUY.

According to you, we should all enter in the middle of the trend, and get eaten by the big players.

What kind of a system is this? A newbie can tell you that you're doing this wrong.

#2,389
May 28, 2013 2:25am May 28, 2013 2:25am

darko40
| Joined Apr 2012 | Status: Trader | 50 Posts

An example of bad behavior as reading within PTECZ, and I'd have SL and grievances to each other only because I read the wrong signals.

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my dream Australia.....

#2,390
May 28, 2013 2:28am May 28, 2013 2:28am

Tok
| Joined May 2013 | Status: Trader | 437 Posts

Quoting darko40

Disliked

An example of bad behavior as reading within PTECZ, and I'd have SL and grievances to each other only because I read the wrong signals.{image}

Ignored

Ok enough is enough. Not a single person in this thread is making good pips. Every other thread has many NEWBIES who have all learned to make profits off the system.

Even the more experienced guys are losing in this thread.

No wonder this thread has no one participating.

#2,391
May 28, 2013 2:29am May 28, 2013 2:29am

Dadas
| Commercial User | Joined Sep 2012 | 3,282 Posts

Quoting Tok

Disliked

{quote} You said earlier when I asked you, that it does not matter which direction the trend is going in.....

Ignored

You must be kidding me, Man!
Learn Price Action before you even try to use any PA strategy!
Trend does not matter if your Pip Potential and R/R fits in!
How can Trend not matter, if we are watching PA and Break Candles???
They are all about Trend.
It looks like you don't even understand Trend!

Man, you have got a lot to learn, yet!

Do not take single statements out of the context and insist on them!

Forex Trading is a very complex thing to do.

It is not "black or white"!

Trade the facts, not opinions.

#2,392
May 28, 2013 2:30am May 28, 2013 2:30am

Dadas
| Commercial User | Joined Sep 2012 | 3,282 Posts

Quoting Tok

Disliked

And you are supposed to enter at the TOP OF THE SELL OR AT THE BOTTOM OF THE BUY. According to you, we should all enter in the middle of the trend, and get eaten by the big players. What kind of a system is this? A newbie can tell you that you're doing this wrong.

Ignored

OK, newbie, go and tell this to all the people who are profiting!

I am doing this right.

You are doing this wrong.
Only, you can not understand that!
You can not admit that to yourself, that you could be doing something wrong!

Trade the facts, not opinions.

#2,393
May 28, 2013 2:31am May 28, 2013 2:31am

darko40
| Joined Apr 2012 | Status: Trader | 50 Posts

Quoting Tok

Disliked

{quote} Ok enough is enough. Not a single person in this thread is making good pips. Every other thread has many NEWBIES who have all learned to make profits off the system. Even the more experienced guys are losing in this thread. No wonder this thread has no one participating.

Ignored

I am on the Forex two years and still do not know enough, and for that I am humble and learning.

my dream Australia.....

#2,394
May 28, 2013 2:35am May 28, 2013 2:35am

Dadas
| Commercial User | Joined Sep 2012 | 3,282 Posts

Quoting Tok

Disliked

{quote} Ok enough is enough. Not a single person in this thread is making good pips. Every other thread has many NEWBIES who have all learned to make profits off the system. Even the more experienced guys are losing in this thread. No wonder this thread has no one participating.

Ignored

Man, I am sorry to say this, but your IQ is at the moron level.

Look at the stats:
Thread started March 19, 2013
Number of posts: 2,394
Views: 340 000

Good-Bye Tok,

Please, do not post here any more.

Trade the facts, not opinions.

#2,395
May 28, 2013 2:45am May 28, 2013 2:45am

Dadas
| Commercial User | Joined Sep 2012 | 3,282 Posts

Quoting Tok

Disliked

And you are supposed to enter at the TOP OF THE SELL OR AT THE BOTTOM OF THE BUY. According to you, we should all enter in the middle of the trend, and get eaten by the big players. What kind of a system is this? A newbie can tell you that you're doing this wrong.
Let's see what excuse Dadas makes this time...

Ignored

I won't make any excuse!

You don't know what you are doing!

You are not following a single Rule of the PTECZ.

You are doing everything exactly the opposite of what I tell you to do.

Thus, you get SL. It is obvious.

I say: Enter Short at the Top.
I say: Enter Long at the Bottom.

You do exactly the opposite!

Why are you surprised you get SL???

Trade the facts, not opinions.

#2,396
May 28, 2013 2:46am May 28, 2013 2:46am

abianfx
| Joined Mar 2013 | Status: Trader | 12 Posts

Quoting Dadas

Disliked

Your mistake was obvious.
You did not wait for PA signals in the PTECZ.
You only Assumed and Risked.
If you do not have enough time to wait, don't Trade the instrument.
Trade only those, whose PA is clear.

Ignored

Thanks Dadas, I learn something today...
- Trade only those, whose PA is clear.

#2,397
May 28, 2013 2:53am May 28, 2013 2:53am

ronneypab
| Joined Jul 2012 | Status: Trader | 2 Posts

Hi Dadas,

It's really a nice post. I'm watching it last couple of weeks and I really like your strategy. I'm interested to your Indicator your showed here. Can you please send me? Look forward to hearing from you.

Thanks
Rez

Rezoun Haque

#2,398
May 28, 2013 2:57am May 28, 2013 2:57am

abianfx
| Joined Mar 2013 | Status: Trader | 12 Posts

Quoting Tok

Disliked

Ok enough is enough. Not a single person in this thread is making good pips. Every other thread has many NEWBIES who have all learned to make profits off the system. Even the more experienced guys are losing in this thread. No wonder this thread has no one participating.

Ignored

Hi Tok, may be Dadas's Method is not suitable for you, don't push yourself too hard...
I am a newbie in Forex world, but with using Dadas's method (though not fully understand yet), I am making +190 pips in 3 trading days (I don't trade in working hours - Asian Session ) but I am willing to learn something here...

#2,399
May 28, 2013 2:59am May 28, 2013 2:59am