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Price Action in Day Trading by Dadas

  • #2,461
  • Edited 4:29am May 29, 2013 3:50am | Edited 4:29am
Quoting EaglePip
Hi Dadas,Just wanted to show my recent trade with your PTECZ Trader.It really helps to see the big picture.The long entry was triggered by the 1M Ptecz, at the bottom of 5M and 15 M ptecz. However, I can see now that it would be been better to wait for entry at the bottom of the 1H Ptecz.Sorry, this goes back to last night, but was having problems uploading. Managed to upload, using Safari browser.{image}
Yes, but you see, the PTECZ_Trader is helping you to see the big picture.
Yet, when you are paying attention to M1 and M5 PTECZ, you are trading the small picture!
And, that was your trade, exactly OK on the small picture!

M5 is your Entry chart, but you see the H1 Zone Candles in the D1 context.
So, Trade the H1 Candles, not the M5 Candles.

Use the H1 Candles for Trend Price Action.
Use the M5 Candles for Entry Price Action.
You do not need to Follow all the PTECZs.
Try only D1, H4, H1, M30.
See how that improves your Pip Potential!


And, remember, the Fats want to take out your SL,
so they are going to retest the Lows.
Trade the facts, not opinions.
  • #2,462
  • May 29, 2013 3:56am May 29, 2013 3:56am
Hi

I've read the thread from beginning to end. That's quite a task with 120+ pages.
Now it's time to start posting. As a first step I attach my attempts at plotting relevant PTECZs from MN to M30. I'd appreciate any observations.

Best wishes

Cee
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eumn.png Size: 45 KB
Click to Enlarge Name: euw1.png Size: 48 KB
Click to Enlarge Name: eud1.png Size: 47 KB
Click to Enlarge Name: euh4.png Size: 46 KB
Click to Enlarge Name: euh1.png Size: 51 KB
Click to Enlarge Name: eum30.png Size: 44 KB
  • #2,463
  • May 29, 2013 3:57am May 29, 2013 3:57am
Quoting Emiratez
it's my 5th tradeoverall +51 pips, -14 pips, floating +80pips (secure profit +56pips)still not convidence ... thank you for your hardwork, so we can learn this, dadas {image}
Emiratez, you are doing a Great Job!

You are going with the Trend.
You Enter Short at the Top on Retrace.
You even have your Target exactly where it is supposed to be,
where the Previous Bearish Trend PTECZ is.


Confidence comes with time!
Stop saying you have not confidence!
Create your Confidence.
Every time say: "I am now more and more Confident!"
Trade the facts, not opinions.
  • #2,464
  • May 29, 2013 3:59am May 29, 2013 3:59am
Quoting Dadas
{quote}..... you are trading the small picture!And, that was your trade, exactly OK on the small picture! .......Try only D1, H4, H1, M30.See how that improves your Pip Potential! And, remeber, the Fats want to take out your SL,so they are going to retest the Lows.
Yes, I see the problem. Thanks for checking and guidance.
  • #2,465
  • May 29, 2013 4:01am May 29, 2013 4:01am
Quoting Tonynewbie
This is my first post in this forum. I am a silence reader for last two month.First of all, thank you very much Dadas for your great FX-NVATC_PTECZ_Trader.ex4.After struggling about a weeks and read your post several times, i got a little understanding about it. In my opinion, anyone that try to use FX-NVATC_PTECZ_Trader.ex4 must had a knowledge about Supply and Demand also PA too.This is my chart and my trade Yesterday on GBPUSD, am I doing the right thing with your method ? Need enlightment. {image}
You are getting the idea.

You need some consultation with me on SKYPE.

Make sure your mic is working and that you can share your screen,
and make an appointment with me on SKYPE!

You are very close, you just need the little something you can not get from reading alone!
Attached Image (click to enlarge)
Click to Enlarge Name: Tonynewbie.png Size: 137 KB
Trade the facts, not opinions.
  • #2,466
  • May 29, 2013 4:09am May 29, 2013 4:09am
Quoting Andrej07
{quote}Hi Dadas! Everything turned out just like you said.{image}
Price Action Andrej, Price Action.
Study chart history.
Look what is the difference in Candles when Trend and when Retrace!
Trade the facts, not opinions.
  • #2,467
  • May 29, 2013 4:18am May 29, 2013 4:18am
Hi Dadas

i am a new member, been trying to learn forex for over a year, bouncing from learning candlestick patterns to indicators....

I began reading your thread, but i still can't get the whole picture, can anyone assist me please.

Thanks in advance.
  • #2,468
  • May 29, 2013 5:48am May 29, 2013 5:48am
Hi Dadas

Can you elaborate (a little) on adjusting your daily_range_stats indicator settings?
I assume it should be tweaked to accommodate our own broker/GMT offsets... but I'm not sure
what your default numbers mean...
Attached Image

Is Last_Week_y our brokers Market Close hour?
Is This_Week_y our brokers Market Open hour?
and
I have no idea what 563 for the Day_Label_x means...

Thanks in advance for any explanation... I really find the concise info useful... I'd just like to dial it in.
Cheers!
G
"You Never Know.....Until You Find Out."
  • #2,469
  • May 29, 2013 6:05am May 29, 2013 6:05am
Quoting Dadas
Confidence comes with time!Stop saying you have not confidence!Create your Confidence.Every time say: "I am now more and more Confident!"
yes ... you are absolutely right .... i have to create my own confidence ... and, yup, now more and more confidence ...
thanks for your time ..
  • #2,470
  • May 29, 2013 6:11am May 29, 2013 6:11am
Confidence is very much important for the traders so that they can take up the trades which has high probability for winning and allow the trade to run for long time in the market to make pips.
  • #2,471
  • May 29, 2013 6:22am May 29, 2013 6:22am
Hi Dadas,
This is a chart of my trades this morning,I took the first trade after seeing a break-down from H4 and the second one as close enough(retrace) to the PTECZ.First trade = 70pips,second trade=51pips.Please comment,thanks!
Attached Image (click to enlarge)
Click to Enlarge Name: TMD.png Size: 27 KB
If you dont stand for something,you 'll fall for anything.
  • #2,472
  • May 29, 2013 6:49am May 29, 2013 6:49am
Hi Dadas...
Following further on the daily_range_stats indicator ....
after comparing the info printout and trying to analyze what I see as an anomaly of some kind
this is what I get:

Take a look at this 4H chart on the EURUSD... and you'll see what I mean...
2 things:

This week's data is printing out just fine... Monday is Monday/Tuesday is Tuesday/and today is printing out as Wed...
so far, so good.
but

Last week's data is printing out with a day lag...
Mon is printed with the previous Friday's range
Tue is printed with Monday's range
Wed is printed with Tuesday's range.... and so on
Fri is (therefore) printing out Thursday's range

which finally leaves (the actual) Friday's range... unprinted.
Take a look:

Attached Image (click to enlarge)
Click to Enlarge Name: range data.jpg Size: 173 KB


I really like the indicator as I said before and find it concise and useful... the importance of anticipating and KNOWING where you are within the daily range is underrated.
If there is anything in the 'settings' that will correct this I would like some advice...
if it is in the coding itself... I wouldn't know where to begin.
"You Never Know.....Until You Find Out."
  • #2,473
  • May 29, 2013 6:58am May 29, 2013 6:58am
Quoting chon
Hi I've read the thread from beginning to end. That's quite a task with 120+ pages.Now it's time to start posting. As a first step I attach my attempts at plotting relevant PTECZs from MN to M30. I'd appreciate any observations. Best wishes Cee {image} {image} {image} {image} {image} {image}
Welcome aboard chon!


If you understand the difference between TBCZ and PTECZ,
then your work is almost perfect!
Attached Image (click to enlarge)
Click to Enlarge Name: chon .png Size: 64 KB

Attached Image (click to enlarge)
Click to Enlarge Name: chon 1.png Size: 60 KB

Attached Image (click to enlarge)
Click to Enlarge Name: chon 2.png Size: 64 KB

Attached Image (click to enlarge)
Click to Enlarge Name: chon 3.png Size: 57 KB

Pay more attention to current Price Level when in smaller Tf.
Trade the facts, not opinions.
  • #2,474
  • May 29, 2013 7:02am May 29, 2013 7:02am
Quoting Sfinks
Hi Dadas i am a new member, been trying to learn forex for over a year, bouncing from learning candlestick patterns to indicators.... I began reading your thread, but i still can't get the whole picture, can anyone assist me please. Thanks in advance.
That's what I am doing, assisting, here.

What kind of assist do you need?

Contact me on SKYPE!
That is the most I can do for anybody!
Trade the facts, not opinions.
  • #2,475
  • May 29, 2013 7:07am May 29, 2013 7:07am
Quoting Sfinks
Hi Dadas i am a new member, been trying to learn forex for over a year, bouncing from learning candlestick patterns to indicators.... I began reading your thread, but i still can't get the whole picture, can anyone assist me please. Thanks in advance.
nobody will assist you, there is too much to learn, but my topic may help you:
http://www.forexfactory.com/showthread.php?t=367514
you need to read a lot, and I would recommend to start from reading babypips course - http://www.babypips.com/school/
you need to focus on psychological side as well, it is the most important aspect of trading
maybe this one will help you:
http://www.forexfactory.com/showthread.php?t=412433

good luck - it is a long way to become profitable trader
On my way to financial independence - if others can do it - I can do it
  • #2,476
  • May 29, 2013 7:07am May 29, 2013 7:07am
Quoting goldenequity
Hi Dadas Can you elaborate (a little) on adjusting your daily_range_stats indicator settings?I assume it should be tweaked to accommodate our own broker/GMT offsets... but I'm not surewhat your default numbers mean...{image}Is Last_Week_y our brokers Market Close hour?Is This_Week_y our brokers Market Open hour?andI have no idea what 563 for the Day_Label_x means... Thanks in advance for any explanation... I really find the concise info useful... I'd just like to dial it in.Cheers!G
The indi reads data from charts.
It does not need to be adjusted to anything else.

Day_Label_x is the x coordinate of the whole text.,
You can adjust it to fit where you want it on the chart.

The y coordinates you don't need to change, unless
you want bigger line spacing.
Trade the facts, not opinions.
  • #2,477
  • May 29, 2013 7:14am May 29, 2013 7:14am
Quoting finaclefx
Hi Dadas,This is a chart of my trades this morning,I took the first trade after seeing a break-down from H4 and the second one as close enough(retrace) to the PTECZ.First trade = 70pips,second trade=51pips.Please comment,thanks! {image}
Slowly getting there!

First one too early, second one OK for adding more Pips!

The result? Well, are you satisfied?
Trade the facts, not opinions.
  • #2,478
  • May 29, 2013 7:15am May 29, 2013 7:15am
Dadas (I've been following the topic for a while) out of curiosity - how profitable is the system? I mean how many % a day/month can you do with it? how often do you get signals? what is the r-r ratio and what is your win rate?
On my way to financial independence - if others can do it - I can do it
  • #2,479
  • May 29, 2013 7:19am May 29, 2013 7:19am
Quoting Greeneyez
Confidence is very much important for the traders so that they can take up the trades which has high probability for winning....
True words of wisdom, my friend!


Quoting Greeneyez
...and allow the trade to run for long time in the market to make pips.
You can make 350 Pips in 3 weeks, or 629 Pips in one Day!
I am saying 629 Pips in a Day, only because I have this evidence on my thread!

So, what is your choice?
Trade the facts, not opinions.
  • #2,480
  • May 29, 2013 7:29am May 29, 2013 7:29am
Quoting goldenequity
Hi Dadas...Following further on the daily_range_stats indicator ....after comparing the info printout and trying to analyze what I see as an anomaly of some kindthis is what I get: Take a look at this 4H chart on the EURUSD... and you'll see what I mean...2 things: This week's data is printing out just fine... Monday is Monday/Tuesday is Tuesday/and today is printing out as Wed...so far, so good.but Last week's data is printing out with a day lag...Mon is printed with the previous Friday's rangeTue is printed with Monday's rangeWed is printed with...
Thank you for noticing this issue and pointing it out.
I know where it comes from.
You do not have any Sunday Candles, do you?
The thing is that where I am sitting, we get Sunday Candles
which introduce misleading data, the average gets lower than should be.


I guess I had never thought I would be sharing with the whole world!

I have got to think about how to solve this issue on the PTECZ_Trader, too.

Thanks!
Trade the facts, not opinions.
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