Price Action in Day Trading by Dadas | Page 148 | Forex Factory

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Price Action in Day Trading by Dadas

  • #2,941
  • Aug 13, 2013 12:45pm Aug 13, 2013 12:45pm
And, yet another one.
Attached Image (click to enlarge)
Click to Enlarge Name: [dax30]m30.png Size: 109 KB
Trade the facts, not opinions.
  • #2,942
  • Aug 13, 2013 10:07pm Aug 13, 2013 10:07pm
I just want to thank you for your interesting topic with a lot of useful information about price action. Learning is never enough, and we have to constantly learn to proceed in our lives.

One more thing, it seems that price action is the hottest trading method now. Will this gradually make price action ineffective? Haha, time will answer this.
  • #2,943
  • Edited 3:50am Aug 14, 2013 3:23am | Edited 3:50am
Quoting FXZoK
I just want to thank you for your interesting topic with a lot of useful information about price action. Learning is never enough, and we have to constantly learn to proceed in our lives. One more thing, it seems that price action is the hottest trading method now. Will this gradually make price action ineffective? Haha, time will answer this.
Well, the way I see it, brokers always need fresh blood.
And, regular small traders are becoming more and more aware, and more and more experienced.
Ultimately, the indicator always works best for the guy who developed it,
because that guy knows the idea behind it best, after all, it's his/hers idea.

The rest are more or less intelligent or skilled, so it is often hard to understand the idea.
Price Action is that which is on the chart, the graph itself.

Thus, Price Action can never become "ineffective", because it is always there on the chart.
A Bullish Candle can not be a Bearish Candle.
A Shadow can not be the Body.
A PTECZ can not be an Engulfing Candle, and so on.

BTW.
You have made the simple assumption mistake that the method is "effective" or "uneffective".
The method is never "effective" or "uneffective".

It is always the Trader - You, who is either effective or uneffective.
And, this has very little to do with the Method you are using.

If you still don't understand what I am saying, here, don't worry.
If you only stick around long enough, you will get it.

Just be aware that it can take years, many years.

And one more thing:
With the evolution of internet technology, brokers are becoming ECN/STP all the more often.
They no longer have to trade against you, they work on commission bases.
So, the more people trading, the more commission for them.
And, the bigger the Lots, the bigger is their commission.

If Price Action is hot, then it is not because it's anything new.
Price Action has been around ever since there was Price Action, ever since there was a graph, a chart.
If it is hot, now, it is because this area of knowledge is no longer concealed and has been released
to the broad public, for many reasons, basically commercial reasons.
Trade the facts, not opinions.
  • #2,944
  • Aug 14, 2013 5:19am Aug 14, 2013 5:19am
DAX30 set up for the news hour:
Attached Image (click to enlarge)
Click to Enlarge Name: [dax30]m30.png Size: 104 KB

The assumtions:
1. Green S/R CSCZ,
2. Daily Range and ADR.

Estimated Pip Potential if Pending Orders get executed = 40 Pips.
Stop Losses at 20 Pips.

If Price Breaks Up, it is likely to get to TP, because of ADR.
If Price Breaks Down, it is likely to get to TP, because of ADR.
Trade the facts, not opinions.
  • #2,945
  • Aug 14, 2013 7:34am Aug 14, 2013 7:34am
Quoting Dadas
{quote} Well, the way I see it, brokers always need fresh blood. And, regular small traders are becoming more and more aware, and more and more experienced. Ultimately, the indicator always works best for the guy who developed it, because that guy knows the idea behind it best, after all, it's his/hers idea. The rest are more or less intelligent or skilled, so it is often hard to understand the idea. Price Action is that which is on the chart, the graph itself. Thus, Price Action can never become "ineffective", because it is always there on the...
As far as I know, anything that is too popular will start losing its effectiveness. Classic price-action patterns like fakey, pinbar, inside bar... will become less and less accurate, because too many people know them and use them. That's not only because of brokers, but the entire huge market. So, the waves of ECN/STP brokers will not change the rule much: the more known and used, the less effective.

However, I do agree with you about the key role of traders in employing a system or a method. Experience and talents make a lot of difference. Also, price action is a very special area in which trading rules are often defined flexibly, and therefore it will live longer than other technical methods.
  • #2,946
  • Aug 14, 2013 7:45am Aug 14, 2013 7:45am
First trades of today:

AUDUSD
Attached Image (click to enlarge)
Click to Enlarge Name: audusdm30.png Size: 109 KB

The first Long was from the Intraday set up.
I placed the Buy Stop too low and it got triggered too early.
Thus, I closed it manually at Profit and set the more proper hedge.
It got triggered, as well, the Buy Stop got triggered.
The news didn't bring reaction, so I closed at small Profit.

The Sell Stop is still Pending.
Trade the facts, not opinions.
  • #2,947
  • Aug 14, 2013 7:54am Aug 14, 2013 7:54am
Quoting FXZoK
{quote} As far as I know, anything that is too popular will start losing its effectiveness. Classic price-action patterns like fakey, pinbar, inside bar... will become less and less accurate, because too many people know them and use them. That's not only because of brokers, but the entire huge market. So, the waves of ECN/STP brokers will not change the rule much: the more known and used, the less effective. However, I do agree with you about the key role of traders in employing a system or a method. Experience and talents make a lot of difference....
You are confusing Price Action with Candlestick Patterns.

Those are two different things.

Candlestick Patterns are an interpretation of Price Action.

Not the other way.

Price Action is the basis, the action of the price plotted as bars or candlesticks.

Candlestick Patterns are secondary to Price Action.

It is your ability to read the Market by Price Action plus Fundamentals, plus experience, plus logic.
Plus psychology.

All elements of this puzzle must click together.
Trade the facts, not opinions.
  • #2,948
  • Aug 15, 2013 10:26am Aug 15, 2013 10:26am
Yesterday DAX setup was a failure, because I wasn't in sync with the Market.
However, today the setup worked fine and made 80 Pips Profit.
Attached Image (click to enlarge)
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The Entry was from H4, based on H4 Consolidation Zones.

Additionally, a late entry on SP500 on the same basis produced 50 Pips Profit.
Attached Image (click to enlarge)
Click to Enlarge Name: [sp500]m5.png Size: 75 KB
Trade the facts, not opinions.
  • #2,949
  • Aug 15, 2013 2:37pm Aug 15, 2013 2:37pm
Glad to have you back Dada !!!
Please don't leave again :-)
  • #2,950
  • Aug 15, 2013 3:19pm Aug 15, 2013 3:19pm
A quick update on my AUDUSD trade
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  • #2,951
  • Aug 15, 2013 3:21pm Aug 15, 2013 3:21pm
Another trade I'm planning to open...
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  • #2,952
  • Aug 16, 2013 9:03am Aug 16, 2013 9:03am
Quoting phi1ipp
A quick update on my AUDUSD trade {image}
Got SL on that trade...
Attached Image (click to enlarge)
Click to Enlarge Name: audusdh4.png Size: 56 KB
  • #2,953
  • Aug 16, 2013 9:04am Aug 16, 2013 9:04am
Quoting phi1ipp
Another trade I'm planning to open... {image}
Position has been opened according to the plan
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh4.png Size: 56 KB
  • #2,954
  • Aug 22, 2013 2:52am Aug 22, 2013 2:52am
hi every body
how can i see the pic post 3&4?
any body can help me?
thanks a lot
  • #2,955
  • Aug 22, 2013 4:15am Aug 22, 2013 4:15am
Quoting chakavak
hi every body how can i see the pic post 3&4? any body can help me? thanks a lot
Maybe you should try a different browser?

I don't know, I am seeing them all, and it's my new computer,
so a new system, so this one couldn't have any "historical data".
Trade the facts, not opinions.
  • #2,956
  • Aug 22, 2013 5:53am Aug 22, 2013 5:53am
Hi, Dadas,

I'm a newbie to Forex and I've taken a week to read your thread, and just read to page 14. I read a few pages and back to page 1 and read again. Everytime when I read it, I got more understanding your idea. That is the greatest thread I've ever read! And I learn a lot from it. Thank you very much and hope this thread could keep going. Sorry for my poor English and thanks again for your contribution.
  • #2,957
  • Aug 22, 2013 5:57am Aug 22, 2013 5:57am
Quoting Dadas
{quote} Maybe you should try a different browser? I don't know, I am seeing them all, and it's my new computer, so a new system, so this one couldn't have any "historical data".
thanks dadas
I changed my browser to firefox and i can see the pictures
  • #2,958
  • Aug 23, 2013 8:02am Aug 23, 2013 8:02am
Quoting ena816
Hi, Dadas, ... Thank you very much and hope this thread could keep going.
Well, what else do you want to know?
Ask me and I will answer.
Otherwise, it looks like people have become uninterested.
Nobody is participating, just single shots from time to time.

People are either making a lot of money with my method,
or still looking for a mirage, a miracle or smth to do the job for them.

If someone puts in enough work, enough commitment, enough persistance,
there will come a moment when everything becomes clear, the charts will actually start talking.

Then, you can even scalp using the H4 timeframe only.
Or, trade any other style.

Yes, D1 and H4 with an occasional peek at W1 is all you need.

And, figure out Buy Stop and Sell Stop Orders.

Stop chasing the Market with Market and Limit Orders.

Let the Market take you along with Buy Stop and Sell Stop Orders.

Otherwise, there is nothing more to say.
Trade the facts, not opinions.
  • #2,959
  • Aug 23, 2013 1:42pm Aug 23, 2013 1:42pm
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh4.png Size: 89 KB
Trade the facts, not opinions.
  • #2,960
  • Aug 23, 2013 10:59pm Aug 23, 2013 10:59pm
Dadas sir;
- Excuse my english very poor, do not know how to get acquainted with him, could not be contacted via skype as he requested. I have followed this thread, so grateful Dadas taught me a lot about the market. Indicactor I'd love to get PTECZ - TRADER and WARD - so I ventured posting comments please Dadas to get it to can learn through this thread.
Sincerely grateful!
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