Price Action in Day Trading by Dadas

Ur Welcome. Somehow, I knew you were very knowledgeable and so I said upfront - Just a suggestion and I am sure you are aware of it. Good to know and you may have a good guage where I am coming from. Anyway, back to reading the posts. I will let you know as to how some posts could be rearranged so it becomes easier to follow and you not having to address the same types of questions over and over again. That is what I did seeing the flow of questions when I read the first 10-15 pages (arguments over what is Engulfing, confusion and readers trying to figure out what is PTECZ. TBCZ, Trend Candle....and figured going backwards where it would be eventually clarified. I then saw the post with the pictures (don't remember the post #) that shows PTECZ, TBCZ and TREND that was worth a thousand words of explanations and bingo. I then went back to post #1 and has been easy to follow and understand since.

I started some 2 weeks ago and at that time the page was 100 some and backward from there. I will find it (post # with the pictures) and as suggestion you may add the link to your post 1 at the start of the thread. Later!

Thx, Sam

Here is that post that I was talking about and did it for mehttp://www.forexfactory.com/showthre...34#post6658134

and http://www.forexfactory.com/showthre...28#post6658328

Hello dadas I would pm you for the ptecz trader but i cannot i havent posted enough times. I have been following your thread and do think you are doing a great service to all traders out there with new ideas and concepts. Would you be able to send me the ptecz trader i would gladly appreciate it.
thanks.
jeremy

The only way I can do that is by regular direct email or SKYPE.

I have sent you an email through FF.

The Daily_Range_Stats revision works perfectly... I like the additions: spread data and WADR.... excellent work Dadas.
Thank you friend.
Cheers,
G.

A short time after I started this thread one guy contacted me on SKYPE.
I answered his questions, then he tested the method on the Strategy Tester
over the weekend and said that no matter how he tried,
he wasn't able to break the account!

I just contacted him today, and here is the chat:

Dadas: Hi, how are you doing with my method?
Is it working, or so and so?

FxBuddy: Hi! I Trade pure PA combined with S/D Zones.
Your method complements this perfectly, I get
a wider view on the chart, and I see the chart
in a completely different way.

Dadas: My method is pure PA, only drawn.

FxBuddy: Yes, I plot a few lines, it is enough for me.
I look for Entries on strong S/R Levels from MN and W1
Candles with Entries from lower Tfs.

Dadas: But, it is working?

FxBuddy: It's working, it's working.
Over 1500Pips in May on a couple of pairs.
Right now, I am watching the charts carefully, because
the new month has just begun and a couple of pairs are
in good positions to look for Entries, but I am waiting
patiently until the Price shows the direction.

I Enter from H1 and lower, and take my TP at the end of
the week or month. So, the Potential is good.
I Trade in a completely different way, I gave up stupid Entries
in even more stupid places, patience pays off.

Dadas: So, you Trade in Longer Terms.

FxBuddy: So, I sit tightly on my arse and I wait untill something
clear shows up, untill the Price shows, and then I Enter.
Yes, I Trade Mid/Long Term.
But, I Enter from low Tfs, even from M1.

Dadas: Yes, I understand that from what you write.

FxBuddy: Then, R/R gets better, incredibly.
1/3 is a failure for me. On average I get 1/18 - 1/25,
SL 10 Pips, TP 250 Pips, or SL 30 Pips, TP 300-400Pips.
Last week I Traded GBPUSD and AUDUSD.

Dadas: Thank you for sharing, this is good.

FxBuddy: I stick to a very simple rule.
I wait until the MN Candle or the W1 Closes, and then wait for Entries.
I watch what the Fat Guys are doing, which direction they take.
When they take a direction, some H1 or D1 Pin won't stop them.
They just go right through it all.

So, I Trade rarely, but effectively.
And, your method really helps me a lot.
The charts are clean, I see everything, it only takes to wait, wait, and again, wait.
Then, a nice Entry and wait, again, this time for my TP.
I have learned the Long Term perspective from another FF thread.
I have learned a lot from it.

Dadas: So, you have taken the best!

FxBuddy: Yep. And, Trading is simple, only people make it difficult.

Dadas: Yep. And then they write that the method doesn't work!

FxBuddy: It works, it works, only you have to keep your eyes wide open and think.
There is no excuse for not thinking.
When we have the direction decided upon on MN or W1, then what's the problem?
Wait for retrace and do it, the Market shows everything!

Dadas: Correct, this stands for every Trend, even the M1 Trend, only
you must Close quickly, then.

FxBuddy: Right, but I don't go scalping any more. It doesn't pay off.
I prefer to Enter once a week and hold my position.
Simple, clean and effective Trading.
You only must know where you are and where you are going.
Then, you just wait for the train. It arrives, it shows, then you board.
It rejects, you wait again.

Dadas: That is what I teach people!

FxBuddy: But, people don't always understand simple rules.

Dadas: Right, they are often mixed up!

FxBuddy: They go against Trend, they can't wait.
I sometimes wait 1-2-3 days.
The Price seems to be in the right place, but the time has not come, yet.
It is the combination of time and place which gives the signal
to Enter into Trade.

Take the AUDUSD, it went down to the Support and
every Long Entry was bound to Lose out, we knew it had to go Up, but it wasn't the time.
Just this week is the the time to look for Longs, there.
And, it has bounced up nicely, 100 Pips.

But, I am waiting. I have two nice places to go Long, if it continues the Bullish Trend.
It has not reached those regions, yet, so I wait, nothing will escape me.
I will Enter when the Market decides on the direction and the Price will be
in the right place and in the right time.

And, that is how I Trade, now. Slowly, stress free, no emotions.
I wait. That is what I mainly do, wait.

Take GBPUSD, now. You could Enter, but you could as well wait.
Today, tomorrow there will be a good opportunity.
Right now, someone could scalp some, if they like.

Dadas: Thank you, and I will ask your permission to post our chat.
It is very good educational stuff and evidence that you can do it,
if you only take the effort! Bravo!

Guys, let's put it this way:

If you make a SKYPE appointment with me and
I wait longer than 15 minutes,
you can forget it!

You will have to wait for another opportunity!

You are not the only one who wants to talk to me!

Thanks Dadas and FxBuddy for sharing your experiences. It's very informative and useful!

Yes, this is how sharing works, especially when you share with me!

I remember, there was stevepatt on this thread, long ago.
He wanted a Trading PTECZ Context for Mid/Long Term Trading.

Well, sometimes you have to be a little patient, but the answer will arrive.
Only thing, will he be here to receive the answer?

Here it is, the PTECZ_Trader Context for all you have ever wanted in Forex Trading!!!

Attached Image (click to enlarge)

Now, I think it is best to Trade on the H4 chart in this context.
Apply the same PTECZ rules, Follow the H4 PTECZ.
Hold your Trades as long as necessary!

Instead of letting your Loss run, let your Profit run!

This context even let's you Day Trade, Intraday Trade or Longterm Trade.

Study it, ask questions, on SKYPE.

Share your ideas with me, I will transform them!

Attached, the template to make it easier for you.

I had 2 trade at 31 May and 3 June and these are the chart



This two trade hit all my target. Can anyone tell me if I get too earlier in the market ?
And give me some clue for the best time to get in.
Thank's.

Hi, friends, it is GU MN chart attached. The current MN candle is green. So, we are looking for historical Monthly PTECZs in the old bullish trend.
Is that correct?

Or because this MN canlde is NOT closed yet, so we should look for PTECZ in the old bearish trend.

I am thinking the latter is right.

But if it is closed now, which PTECZ would be the best one for reference? Thank you~

Considering, the current MN candle is NOT closed, the previous is a Bear. So, I am looking for historical PTECZs in the old downtrend.
I found 4. Which do you guys think is the best for our trading reference?

Same question. GU weekly.

Man, forget it, they don't know!
I am the only one who understands this method!
The only way for you to get it right is to catch me on SKYPE!

These Guys are only looking for a Method which will Trade for them!

They are losers, who will never get it right, unless they UNDERSTAND!



If I don't answer, nobody will!

The best PTECZ is the one which fits the best!

Dadas - Thanks for .tpl
Doing demo with it - thanks for sharing
mosiskv

Hi Dadas,

I can see you have been working hard to keep the thread going.

I've taken what you have been teaching and am using it in addition to a few indicators that I'm using. You would probably be pulling your hair out if you saw what I'm doing.

I think one of the problems you have here is that there are a lot of new traders trying to use your method and there's the crux, really, it's a method rather than a system where as with a system if A B C happens you do X Y Z with a method you have to have a certain amount of experience to make it work for you.

I know, to you, it's all very clear but for traders without much experience it will take a lot of screen hours before they can really appreaciate what you are doing.

I hope everything is going well for you and you'll have to see about getting yourself a Mac you won't regret it

Cheers

Steve

Hi stevepatt!

Long time no see!

I made that one for you, as well!

Hope you can get it! Or, hope you are ready to receive it!

No need for any other indicators if you see the W1 or MN Candles and work on the H4 chart.

And, yes, I have always told everybody it takes time and that they should not expect the method to trade for them!

Yet, a lot of people just don't read the thread.

You know that " if A B C happens you do X Y Z " does not exist!

Until you learn and read Candlesticks like a story, because the story is talking,
the Candlesticks are telling their story, so until you can do that, you understand nothing.

Nice to have you back!