Price Action in Day Trading by Dadas

81, no, no, no, no. That´s not the way to do it. As far as I can see you are using the CSCZ. Not a PTEZC. You should not buy here. Buy at the bottom. Look at your 1H chart, is that the bottom?

A daliy PTECZ would be the third candle from the right. On the Daily there is a rejection, yes. However, there is no breakout nor breakdown. It´s still in a consolidation. You should wait and see what happens next.

You don´t know what a PTEZC is. Look it up again, this can lead to disappontment at least.

You (and some others have to decide what you want to trade. I think there is a lot of confusion). 81, if you want to trade the daily zones you need to know what a PTECZ is and on your daily chart the trend is so down it´s not even up a bit yet. You are not trading the daily context. If you want to trade the hourly context you should have entrered a lot lower. You are buying into supply. The daily context suggests wait and see what happens. So far it´s just a small retrace of the downtrend.

Now, you CAN do that. But we can´t say anything abou that because there´s no analysis. You don´t know where to get out.

As per your previous post, you looked angry on my stupid questions! May be you know that I have not read this whole thread! I am trying to mange time for this because your thread looks more explanatory than other's price action thread! And yes, I have no hesitation to declare that I am a newbie in terms of my understanding on price action and now trying to practice what I am getting from this thread and will post when I feel I may be right...

Hey Sam,
Its a real thrill to get enlightenment!
Very hard for us to make any sense of "the Big Boys get their fills with staggered orders huge contracts "!
Hope it is not asking too much for you or Dadas to post a chart or just let us know which pair and time frame you are talking about.
I am sure it would also help others following this thread.
Thanks.

Christianfx has said it all!

You must learn to read Price Action before you try to do anything!

Well, Sam ought to post his chart, especially showing what he saw.
I agree this might be helpful for some more Enlightenment of others.

However, I have posted hundreds if not thousands of such examples.

It is the Enlightenment which helps you to see this.

Posting yet another example will not help your Enlightenment unless you do what Sam has done.
Study my examples Candlestick by Candlestick. Until Enlightenment Strikes!

BTW. One is just the post above!

And, another peculiar thing is that you should ask this question in Post# 2.743
when the answer is right there in Post# 2.738 !!!

This is what makes me so angry about you Guys!

Haha i had a feeling it wouldn't be that easy. I think the not knowing of what price is going to do may prove to be the most powerful tool. Im just going to watch from now on. Just watch.

You see Guys,

Nobody can, actually, enlighten anybody!

The Enlightenment must strike You personally.

Which, usually means that you have to work hard in order to achieve that.

Waiting and expecting the "Saviour" to come and solve all your problems leads nowhere.

Many "Saviours" have already come! Many have been showing the way to Enlightenment!

However, they can only show You the way!

You are the One Who Has To Take the Way!

You should have realised that somewhere around the first 2 pages of the thread.

I keep on repeating that Price Always has 3 possibilities:
1. Consolidate,
2. Continue Trend,
3. Reverse Trend.
And it is Price Action which shows us the most Probable Direction.

How many times repetitions do you need?

Hi Dadas,
Sorry did not mean to upset you. Just wanted to know which pair Sam was referring to.
EP

http://www.investopedia.com/universi...res-contracts/
This might help you.

1. E-mini S&P 500 (ES)
2. E-mini NASDAQ-100 (NQ)
3. E-mini Dow (YM)
4. E-mini S&P MidCap 400 (EMD)
5. E-mini Russell 2000 (TF)

The above situation with our friend EaglePip is what I am so often angry about!

Notice how long it takes to punch "e-minis" in Google, and how long it took EaglePip
to find something out by asking questions and expecting answers just from 2 guys.

And, I do not Trade e-minis. Sam777 Trades them, and numoon Trades them.
That is what I know and remember. Others might be Trading e-minis, too.

It took me a couple of seconds to find info on e-minis.
It took me a bit more to read the info, because I had to change browsers.
IE was just showing a blank page.

Anyway, the whole process only took a couple of minutes. Not hours, not days, just minutes!

This is just to illustrate, because this is information what you can expect of yourself in learning to Trade!

It is the same process, it can take you "a couple of minutes" or "a couple of days".
Translate that to Forex and it becomes "a couple of months" or "a couple of years".

Dear dadas

Your Post No 41:

What should I do after downloading the Custom Zone Candle? Should I incorporate it with my MT4/ How?

Thanks. Oh yes Google, but I misread the post just assumed it was FX. Did not realise he was referring to futures, so will not have the charts in MT4.

Yes, you should have the full contract charts, unless your broker does not offer them:

Sam was reffering to this.

PS. They can be under "Indices" or "Futures", whatever the broker put them under.

You simply save the custom indicator file (mq4 or ex4) in:
... Meta Trader/experts/indicators (where you installed your MT4 platform).
That is all.
Then you start your MT4 and you should have the indicator in your Custom Indicators in the Navigator window.

You drag and drop it onto the chart.


Again, you have not read the posts where I have already explained that.

And, again, this is basics you should already know, or otherwise you should have read the MT4 User Manual.

There you go! We learn something everyday. Might be onto something here. The chart seems to to be easier to trade than EURUSD. Unfortunately my broker only has FX and Metals. Just checked Google and there are others also searching for brokers offering E-minis on MT4.
Did some more digging and found dedicated forum here:
http://www.forexfactory.com/forumdisplay.php?f=138
and a thread:http://www.forexfactory.com/showthread.php?t=307673

Well, I don 't have time to read those threads, however, the idea of E-minis
is to offer the mini contracts, ie. 1/5 of the standard contract.

They are calculated on a different basis, the CFD's basis,
so the Lot value can be different,
even different with different brokers.

They offer very good returns, however, the risk is just as big!

And, Trading of the M1 does not make much sence in this case!

Quoting EaglePip
{quote} Hi Dadas, Sorry did not mean to upset you. Just wanted to know which pair Sam was referring to. EP
http://www.investopedia.com/universi...res-contracts/
This might help you.

1. E-mini S&P 500 (ES)
2. E-mini NASDAQ-100 (NQ)
3. E-mini Dow (YM)
4. E-mini S&P MidCap 400 (EMD)
5. E-mini Russell 2000 (TF)

EaglePip, I just logged in and saw your message. Dadas has provided you E-minis Symbol/Symbols.

Just a polite comment - in my post, I clearly wrote ES (e-minis and is the E-mini for S&P 500). The only thing I didn't mention was September 2013 Contract as the June contract had expired at the market open (NY open - 9:30 am Eastern) and September contract rolled in and was the default contract.

Also, different data providers may have different symbols and you need to know what the entire symbol is for ES September 2013 contract from your service provider. I also said it was at the London Open (60 min candle - PTECZ). The 30 min, 15 min and 5 min candles were not as clear as 60 min.

EaglePip - you do not have to trade E-Minis but looking at practical examples in real time will build up your confidence with the knowledge ascertained. Any knowledge serves no purpose if cannot be applied in a practical manner.

I know you are reading, however, the mistake is you are too eager to apply and the thread is dynamic and has evolved over time - so the answers are not in an orderly manner as a book written - so have to go with the flow.

I can give you pointers to facilitate your understanding. I don't know how far you have read but if you have read the explanations, then just look at page 83/84 and you will see the pictures of PTECZ, TBCZ, TREND. Follow that closely with the explanations in the initial pages of the thread ypu have read.

Somewhere between Pages 70-85, there are examples of candles that Dadas has corrected posts who were drawing PTECZ's and TBCZ's from their understanding and Dadas corrected them. Observe those and be clear. Now do some examples on your own with your instrument. You are now ready to move on to the next step.

Now with that clear, start from the beginning and you will see it making more sense and it will speed up your understanding, knowing what to read through and filter others as your basics will be clear. But must read Dadas posts.

Also, while you are reading, shut those thoughts of what you have learnt over the years ie indicators (MA. Stochastics..........) and all the jargon that I am fully aware of. THAT KNOWLEDGE IS THE MOST DIFFICULT TO GET RID OFF AS THE MIND HAS BEEN TRAINED TO SEE FROM THOSE LENSES YOU ARE ACCUSTOMED TOO AND OLD HABITS DIE HARD. SO AVOID USING THESE INDICATORS - YOU MAY DO IT UPFRONT OR DO IT GRADUALLY, HOWEVER, SOONER THE BETTER as there will be no bias.

Dadas, knows all this and so charts with indicators are not helping the cause and more of an hindrance. One can always take the information and apply to their own trading styles/concepts but then that is your own prerogative and not Dadas and that is why he reiterated the rules so that the thread does not end up in all directions and accomplishes nothing.

I trade E-Minis and not Forex. Dadas methodology is instrument independent and needless to say why. If any instrument trades, then there will be buyers and sellers and if that is true, then there will be Up candles and Down candles, and if that is true then there will be CSCZ's, PTECZ's, TBCZ's and there you have it.

Sorry, for the long post and is for all, just like EaglePip and hope it helps. It was to me as I went thru the pages (albeit with frustrations some times, however, please understand the dynamic evolution of the thread and is not in a book form that all expect!!

Dadas, has provided a different lens to see the same picture as are thousands of experts selling their methodology from their lenses. Some of you may have done that already and are still looking.

Thx, Sam

Actually, I mentioned in my post the links on pages 83/84 and for your ready reference -

http://www.forexfactory.com/showthre...06#post6723806

It is important to do the groundwork as that struggle will speed up your learning albeit with frustrations but over time you will appreciate and say that was the best thing. There is no substitute to doing it!!

A Very, Very, Very Big Hug for your Wonderful, Lenghty, Important Post!

At the very right moment, indeed!

And this to illustrate the importance of always reading Price Action and staying Alert!

First I went Short and got some Pips.

Then, I had a plan!

I was on the M1, didn't see the M5 Break Up to the left.
So, I kept up my "plan" to "get them at news hour".
Even had a Sell Limit Order which missed by only 2 Pips.

But Price started down about 15 minutes before the news time.
It was one of those "it's so Short that it must be Long" situations!

So, I switched to M5 and seeing what I saw, I started Exiting at Profits,
whatever they may be, just leaving the highest Short with Profit secured.


And, it was only my "mistake", cause the PTECZ was very clear on M15, even:


Sometimes, we get our own "ideas".
However, it is important to stay Alert, because they may just be the wrong ideas!