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Price Action in Day Trading by Dadas

  • #2,641
  • Jun 7, 2013 7:19am Jun 7, 2013 7:19am
Just in case somebody still does not understand:

My Method does not "work" for any financial instrument!
My method is not an EA or any other Automated Trading!

My Method helps Traders to understand Price Action at its Basics!
My Method provides refference for Trading financial instruments!
My Method helps those, who understand what they are doing!
My Method helps understand the Market, the Charts, the Candlesticks!
My Method helps to learn to read the information in the Candlesticks!

My Method does not Trade for the Trader, thus my Method does not work for any financial instrument!

My Method only works if the Trader works and knows what I/you/he/she/it/we/you/they is/are doing!
Trade the facts, not opinions.
  • #2,642
  • Edited 8:54am Jun 7, 2013 8:31am | Edited 8:54am
Dadas - Please clarify!

A question and want to know the subtlety (fine tuning - because it is like splitting hairs) you did from my observation of the chart. This was an excellent post!

http://www.forexfactory.com/showthre...91#post6605191

In your USDCHF D1 chart, I am referring to the Cyan candle (PTECZ in Red color you show) in the miiddle of the chart just above the orange.

Just 2 candles before (Doji) in Cyan is also a PTECZ whose lower shadow partially overlaps your PTECZ upper shadow.

Close to each other as they are, we could draw both the PTECz's (would that be incorrect)?

Considering their proximity, we could draw one PTECZ covering both the candles (would that be incorrect)? ( I am just eyeballing as I do not have the chart and able to measure with the cursor)

Your PTECZ high was not exceeded, however, if one was taking a short then the stop loss (the high of the other PTECZ) was a great stop (not in hindsight as that would be my rationale if I had taken the trade).

So the other PTECZ was the ideal resistance range although your PTECZ worked. There is some subtlety in your drawing the PTECZ and wanted to pick your wisdom). From my point of view your PTECZ's was fine, or just the other one PTECZ was fine or both combined would be fine. What are your thoughts?

P.S. I cannot draw your chart as I do not have MT4 or trade forex. I do e-minis and doing great applying your methodology and concepts and simply amazed to see in real time having drawn on the chart applying everything that you have been saying and explaining, repeatedly!

This was another great post as Zarach did his work and you went and corrected and fine tuned. Perfectly done!!

Thx, Sam
  • #2,643
  • Edited 8:59am Jun 7, 2013 8:49am | Edited 8:59am
Quoting sam777
Dadas - Please clarify! A question and want to know the subtlety (fine tuning - because it is like splitting hairs) you did from my observation of the chart. This was an excellent post! http://www.forexfactory.com/showthre...91#post6605191 In your USDCHF D1 chart, I am referring to the Cyan candle (PTECZ in Red color you show) in the miiddle of the chart just above the orange. Just 2 candles before (Doji) in Cyan is also a PTECZ whose lower shadow partially overlaps your PTECZ upper shadow. Close to each other as they are,...
Sam,

Yes, no, maybe, I don't know.

Don't eyeball, take your chart and do it.
Do what you see on my chart.
Do what you ask on another chart.

Compare, or contact me on SKYPE.

Man, you are asking about something, like 1700 posts ago???

What do I care about last winter snow?


Though, I am glad that you are doing fine with my method!

Just, keep it up!
Trade the facts, not opinions.
  • #2,644
  • Jun 7, 2013 10:53am Jun 7, 2013 10:53am
Hi,
I got this today
XAUUSD H4 PTECZ
Switched to M15 and waited for breakdown and retrace before entered short
Attached Image(s) (click to enlarge)
Click to Enlarge Name: XAUUSD_H4_2013-06-07_1641.png Size: 54 KB
Click to Enlarge Name: XAUUSD_M15_2013-06-07_1640.png Size: 48 KB
  • #2,645
  • Jun 7, 2013 11:12am Jun 7, 2013 11:12am
Quoting mosah
Hi, I got this today XAUUSD H4 PTECZ Switched to M15 and waited for breakdown and retrace before entered short {image} {image}
I would say, Grats!

One thing bothers me, though.
Why isn't your PipTracker showing those Pips?

Is it because you don't have the PipTracker.mt4 in your indicators folder?

I can't attach it to Post# 1.
But, I can mail it to you, or by SKYPE, or it is some posts ago.
Trade the facts, not opinions.
  • #2,646
  • Jun 7, 2013 11:30am Jun 7, 2013 11:30am
Man, you are asking about something, like 1700 posts ago???

What do I care about last winter snow?

Well, Dadas, to you it may be the last winter snow, however, for me is the latest snow and I understand what it looks like, so I asked something that was quite subtle and to your methodology (brainstorming). I am already seeing the future snow with the last winter snow However, your answer - No, may be, don't know says it all.

I have not traded yet, however, I am doing the due diligence and applying the technique. You have shown another picture of the same and how to interpret using your method PTECZ, Zone,......There is no reason to trade in noise and stay away from the noise by riding/exiting the train at stations only. You have provided a methodology to do that instead of the helter skelter and trading where you are a roadkill sooner or later. Far easier on nerves not to mention the confidence in believing when you take a position to let it run its course instead of embarking on a moving train and the reason masses loose. The odds are quite in favor of you.

Your method is still an art, however, very analytical in nature before applying the art. There is far more science that art but once you understand the science/rationale/logic, applying the art is quite simple and get better with practicing and observing real time.

There is so much relaxed trading and no fly by the seat of your pants. Most of the emotional trading is removed or our own views and biases. Let the chart do the talking and one understands what to look for.

I am enjoying reading the thread and want to finish reading as I may find some nuggets and pointers with your replies to all the posts. I already have a good idea and able to pick what is important given the same types of questions being repeated.

At the end of each day, I do the homework for next day and watch at those levels while reading the posts. I also managed to set alarms so I am not watching all day along and if alarm triggers, I observe 5 min TF which is the trigger when all ducks are lined up.

Thx, sam
  • #2,647
  • Jun 7, 2013 11:42am Jun 7, 2013 11:42am
Quoting Dadas
{quote} I would say, Grats! One thing bothers me, though. Why isn't your PipTracker showing those Pips? Is it because you don't have the PipTracker.mt4 in your indicators folder? I can't attach it to Post# 1. But, I can mail it to you, or by SKYPE, or it is some posts ago.
Thanks
  • #2,648
  • Jun 7, 2013 12:04pm Jun 7, 2013 12:04pm
Quoting sam777
However, your answer - No, may be, don't know says it all.
Your method is still an art, however, very analytical in nature before applying the art.
There is far more science that art but once you understand the science/rationale/logic, applying the art is quite simple
and get better with practicing and observing real time.
The point is, once it's done, it's done.
No use crying over spilt milk. Just, clean it up or let the cats do the job.
I do not like going back and analysing the same stuff just to share my thoughts,
when I have my mind set on the present, when I am watching the present charts.

Art, yes: Fx New Visual Art Trading Concept (Fx-NVATC)

So, a few words squeezed into a post are nothing.
2-3 hours talking on SKYPE makes the whole difference.
Those who have had the experience with me, already know the difference.
Trade the facts, not opinions.
  • #2,649
  • Jun 7, 2013 12:21pm Jun 7, 2013 12:21pm
No use crying over spilt milk. Just, clean it up or let the cats do the job.

How do you know it is milk? It could be a roadkill and you need scavengers - crows, vultures...... and not cats!

I will skype you but I must first do my part to read through the posts. I will meet you at the last post soon when we do not need cats, crows, vultures, etc! albeit they all have a function and a role in nature - Avery important function if I may add.

Sam
  • #2,650
  • Jun 7, 2013 4:19pm Jun 7, 2013 4:19pm
Quoting sam777
No use crying over spilt milk. Just, clean it up or let the cats do the job. How do you know it is milk? It could be a roadkill and you need scavengers - crows, vultures...... and not cats! I will skype you but I must first do my part to read through the posts. I will meet you at the last post soon when we do not need cats, crows, vultures, etc! albeit they all have a function and a role in nature - Avery important function if I may add. Sam
OK Sam! See you when you get there...
Trade the facts, not opinions.
  • #2,651
  • Jun 8, 2013 2:57am Jun 8, 2013 2:57am
If you know your Global Position, all you do is find the Potential Stops - PTECZs:
Attached Image (click to enlarge)
Click to Enlarge Name: goldh4.png Size: 99 KB

And, with the PTECZ_Trader, you don't need a lot of hastle,
just input Trading_Slave_Tf = 43200 and check:
Attached Image (click to enlarge)
Click to Enlarge Name: goldh4_mn.png Size: 100 KB

Then, input Trading_Slave_Tf = 10080 and check:
Attached Image (click to enlarge)
Click to Enlarge Name: goldh4_w1.png Size: 98 KB

If you still need more confirmation, input Trading_Slave_Tf = 1440 and check:
Attached Image (click to enlarge)
Click to Enlarge Name: goldh4_d1.png Size: 96 KB


What else do you need?
Trade the facts, not opinions.
  • #2,652
  • Edited 4:21am Jun 8, 2013 4:09am | Edited 4:21am
Fx-NVATC_PTECZ_Trader.ex4 (Unlimited Version)

How is it different from the Trial Version?
The Unlimited Version includes a few more advanced functions:
1. You can turn the Trading_Slave_Tf Candles On and Off:
Attached Image

So, you do not need to see them all the time.

2. You can decide which Trading_Slave_Tf Candle to start plotting from:
Attached Image

so, you can get a picture like this:
Attached Image (click to enlarge)
Click to Enlarge Name: goldh4_quotes3.png Size: 105 KB


3. You can set the Master_HLC_Quotes_Shift:
Attached Image

so, you can do a trick like this:
Attached Image (click to enlarge)
Click to Enlarge Name: goldh4_master_quotes_shift.png Size: 104 KB


This gives you a few additional very usefull analytical options.

Well, yes, it is for those who know what they are doing.

The question remains:
Do you want to be one of those who know what they are doing?
Trade the facts, not opinions.
  • #2,653
  • Jun 8, 2013 4:16am Jun 8, 2013 4:16am
Quoting Dadas
If you know your Global Position, all you do is find the Potential Stops - PTECZs: {image} And, with the PTECZ_Trader, you don't need a lot of hastle, just input Trading_Slave_Tf = 43200 and check: {image} Then, input Trading_Slave_Tf = 10080 and check: {image} If you still need more confirmation, input Trading_Slave_Tf = 1440 and check: {image} What else do you need?
Hi Dadas,
Good morning
I can't have the PTECZ's plotted as yours.
Even if, I puted the Trading_Slave_tf at differents TF
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD_H4_2013-06-08_1010.png Size: 46 KB
  • #2,654
  • Jun 8, 2013 4:56am Jun 8, 2013 4:56am
Thus, having incorprated the Full Power of the PTECZ, CSCZ and Zone Candle !
Attached Image

Attached Image

Attached Image (click to enlarge)
Click to Enlarge Name: goldh4_full_power.png Size: 106 KB
Trade the facts, not opinions.
  • #2,655
  • Edited 5:57am Jun 8, 2013 4:59am | Edited 5:57am
Quoting mosah
{quote} Hi Dadas, Good morning I can't have the PTECZ's plotted as yours. Even if, I puted the Trading_Slave_tf at differents TF {image}
If you mean the red ones from http://www.forexfactory.com/showthre...73#post6739373
you must do these by hand!

I can't make an Indicator to be that intelligent!
I think that would require something like Mr. Data.

That is the human factor, added.
I could make the Indicator plot all the PTECZs within a given Period back,
but you would get a whole mess of overlapping PTECZs, thus, seeing nothing.

How can the Indicator decide which ones are the important ones?
If you can solve this issue, you have got a Fortune!

PS.
That is the issue with ALL Indicators!
It is the human who must decide which is the important indication.
If the human/Trader does not know, the Indicator is not going to tell anyone.
I have been telling you that since Post# 1.
Trade the facts, not opinions.
  • #2,656
  • Jun 8, 2013 5:48am Jun 8, 2013 5:48am
Quoting Dadas
{quote} The point is, once it's done, it's done. No use crying over spilt milk. Just, clean it up or let the cats do the job. I do not like going back and analysing the same stuff just to share my thoughts, when I have my mind set on the present, when I am watching the present charts. Art, yes: Fx New Visual Art Trading Concept (Fx-NVATC) So, a few words squeezed into a post are nothing. 2-3 hours talking on SKYPE makes the whole difference. Those who have had the experience with me, already know the difference.
I have read the first 2 pages of this thread several times and now I think I can ask questions based on the present charts as you just said and I hope that you will not tell me to go back to the previous posts to get the answer, right Dadas? Thanks in advance...
  • #2,657
  • Jun 8, 2013 6:11am Jun 8, 2013 6:11am
Quoting Red Herring
{quote} I have read the first 2 pages of this thread several times and now I think I can ask questions based on the present charts as you just said and I hope that you will not tell me to go back to the previous posts to get the answer, right Dadas? Thanks in advance...
So, you have read what? 42 posts?
What about the remaining 2614 plus counting?

Have you read those?
Have you understood what you have read?
Have you plotted the examples on your charts?
Have you done 100 analysis from the Top, to begin with?
How about a thousand, 10 000, and more analysis?

Have you practised on demo?

Well, I am expecting your SKYPE appointment, then we'll see!
Trade the facts, not opinions.
  • #2,658
  • Jun 8, 2013 6:25am Jun 8, 2013 6:25am
Dear Dadas

I am surprised to use you are using/suggesting indicators at this price action thread of yours? It was looking simple in your first 2/3 page of this thread! I do not want to use any indicators and want to take trading decision based on my understanding of Price action only! Will you continue posting on slave indicators (or etc.) or we will see the price action charts from here or a mix of both?
  • #2,659
  • Jun 8, 2013 6:32am Jun 8, 2013 6:32am
Quoting Red Herring
Dear Dadas I am surprised to use you are using/suggesting indicators at this price action thread of yours? It was looking simple in your first 2/3 page of this thread! I do not want to use any indicators and want to take trading decision based on my understanding of Price action only! Will you continue posting on slave indicators (or etc.) or we will see the price action charts from here or a mix of both?
You are free to use any indicators you wish, in your private trading.
Using my method, you can use any of the tools I provide.
Or none, if that is your desire.

Whatever I continue to post on my thread is only my decision.

If I choose, I may not post anything else.

Everything has already been said.

And, even though I am repeating myself:

I do not wish to repeat myself on this thread!

It was simple and it is simple.
My "indicators" are tools.
All they are, is only charts within charts, nothing more.
CSCZ and PTECZs and Zone Candles.

It is the same thing from the begining.

Anyone who wants to evolve in their trading knowledge, please contact me on SKYPE.
Trade the facts, not opinions.
  • #2,660
  • Jun 8, 2013 7:06am Jun 8, 2013 7:06am
There are people who use my ideas combined with their other indicator method.
There are people who use my ideas combined with only plain charts.
There are people who use my ideas with only the Custom_Zone_Candle plotter.
There are people who use my ideas combined with the PTECZ_Trader.
There are people who use my ideas combined in other different ways I don't know.
There are people who don't use any of my ideas and still try to use my tools.
There are people who don't use any of my ideas and don't use any of my tools.


There are over 7 000 000 000 people in this world!
Trade the facts, not opinions.
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