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Price Action in Day Trading by Dadas

  • #3,321
  • Oct 20, 2013 9:05am Oct 20, 2013 9:05am
Quoting andygrope
Hi Dadas, Love what you are doing and have downloaded the pdf and would love your FX-NVATC_PTECZ_Trader.ex4,r indi please. I have started watching Sam Seiden on Supply and Demand too. I have always wanted to know how to work all this out rather than try to trade between Support and Resistance. This is having a hugh impact on my understanding of trading. I have been trying to tarde Price Action but now I have a chance of actually understanding PA. Thank You
Welcome Andy!

I hope you can find, here, what you are looking for.

I can send you a copy of the PTECZ_Trader only if you send me an email, or contact me on SKYPE.
Trade the facts, not opinions.
  • #3,322
  • Oct 21, 2013 9:11am Oct 21, 2013 9:11am
Recently, I commented somewhere on someone's chart with Fibo's
that instead of using imaginary Levels, it is better to use actual BO Leves.

The guy answered that he is using Fibo's c/z they very often work.

So, as you know me, I gave it some thought.

Well, it is true that they often work.
But, have you ever wondered why?
Is it because they are some special, "magic" numbers?

Let me show you something.
Take a Trend Candle and take Close as 100% Fibo, and Open as 0% Fibo, you get this:
Attached Image (click to enlarge)
Click to Enlarge Name: goldh4_fibo.png Size: 32 KB

Wow! Fibo's work!

Now, do the same only with a simple 0%, 25%, 50%, 75%, 100%, 150%, 250%, 350% step:
Attached Image (click to enlarge)
Click to Enlarge Name: goldh4_fibo_step.png Size: 32 KB

Wow! Works too, even better!

Quite obviously, if you can find the true BO Level in history, it will work the best.

So, Fibo's might as well work, if you know what you are doing!
But, any other imaginary set of numbers will work just as well, when you know what you are doing.

BTW, I have figured out a better way to plot PTECZ.
Instead of High to Low of the PTECZ,
it is better to Plot the Zone from High or Low of previous Trend Candle to PTECZ Close.

So, here is a script to drop on your PTECZ, and it will do just that.
Attached File(s)
File Type: mq4 111_Draw_HLC_BAR_Zone.mq4   4 KB | 445 downloads
File Type: ex4 111_Draw_HLC_BAR_Zone.ex4   5 KB | 360 downloads
Trade the facts, not opinions.
  • #3,323
  • Oct 21, 2013 11:01am Oct 21, 2013 11:01am
Hi All,

I do not understand what do you mean by high to low till previous trend candle.I just try to use it in AUDCHF daily chart and plot on a ptecz candle as show in screenshot.But zone plotted fro high of previous trend candle till close of the current ptecz candle.Low of previous tend candle not considered.Can you check.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 32 KB
  • #3,324
  • Oct 21, 2013 12:14pm Oct 21, 2013 12:14pm
Quoting bedayan
Hi All, I do not understand what do you mean by high to low till previous trend candle.I just try to use it in AUDCHF daily chart and plot on a ptecz candle as show in screenshot.But zone plotted fro high of previous trend candle till close of the current ptecz candle.Low of previous tend candle not considered.Can you check. {image}
Put it on the other situation, when Trend Candle is Bear and PTECZ is Green, then Low.

And, get rid of the MA's or I will delete your post!

Another thing:

Why do you need that specific PTECZ?

Did it End anything?
Trade the facts, not opinions.
  • #3,325
  • Oct 21, 2013 12:22pm Oct 21, 2013 12:22pm
i have try with 2 different sessions of mt4 : alpari and metatrader 4 "normal version"

ALL others indicators,EA or scripts that i download have always works for me

MetaTrader - Alpari UK/experts/indicators/111_Draw_HILOBAR_Zone.mq4
MetaTrader - Alpari UK/experts/indicators/111_Draw_Shadow_Zone.mq4
MetaTrader - Alpari UK/experts indicators/111_Draw_Shadow_Zone_Rev.mq4
MetaTrader - Alpari UK/templates/FX_NVATC_Default.tpl

and also try

MetaTrader 4/experts/indicators
MetaTrader 4/experts/indicators
MetaTrader 4/experts/indicators
MetaTrader 4/templates/FX_NVATC_Default.tpl

Only the template appear and right click does not show any indi

Thank you for help.
Attached Image (click to enlarge)
Click to Enlarge Name: chartalpari.png Size: 230 KB
Attached Images
  • #3,326
  • Oct 21, 2013 12:36pm Oct 21, 2013 12:36pm
Quoting samtouzen
i have try with 2 different sessions of mt4 : alpari and metatrader 4 "normal version" ALL others indicators,EA or scripts that i download have always works for me MetaTrader - Alpari UK/experts/indicators/111_Draw_HILOBAR_Zone.mq4 MetaTrader - Alpari UK/experts/indicators/111_Draw_Shadow_Zone.mq4 MetaTrader - Alpari UK/experts indicators/111_Draw_Shadow_Zone_Rev.mq4 MetaTrader - Alpari UK/templates/FX_NVATC_Default.tpl and also try MetaTrader 4/experts/indicators MetaTrader 4/experts/indicators MetaTrader 4/experts/indicators MetaTrader 4/templates/FX_NVATC_Default.tpl...
MetaTrader - Alpari UK/experts/scripts/111_Draw_HILOBAR_Zone.mq4
MetaTrader - Alpari UK/experts/scripts/111_Draw_Shadow_Zone.mq4
MetaTrader - Alpari UK/experts/scripts/111_Draw_Shadow_Zone_Rev.mq4

They are scripts, not indicators.
Please read with understanding!
Trade the facts, not opinions.
  • #3,327
  • Oct 21, 2013 1:06pm Oct 21, 2013 1:06pm
Hi Dadas,

What do you say about my PTECZ plotting.I am looking for short from above PTECZ and long from below PTECZ. For short PTECZ I went back till 30.09.2011 to plot it. Your comments are welcome
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 12 KB
  • #3,328
  • Oct 21, 2013 1:32pm Oct 21, 2013 1:32pm
Quoting bedayan
Hi Dadas, What do you say about my PTECZ plotting.I am looking for short from above PTECZ and long from below PTECZ. For short PTECZ I went back till 30.09.2011 to plot it. Your comments are welcome {image}
Bedayan, what do you want me to say about 25% of chart that I don't see what pair of what Tf???

Why are you looking for Short, instead of watching Price Action?

You are not supposed to look for Short or Long!!!
You are supposed to watch PA if it shows you Short or Long!!!
You are supposed to Trade in the direction of the Market!!!
You are not supposed to decide for the Market which way the Price will go!!!
Trade the facts, not opinions.
  • #3,329
  • Oct 21, 2013 9:03pm Oct 21, 2013 9:03pm
Hi Dadas,

Sorry chart is EURCAD daily chart.
  • #3,330
  • Oct 22, 2013 4:04am Oct 22, 2013 4:04am
Quoting bedayan
Hi Dadas, Sorry chart is EURCAD daily chart.
Attached Image (click to enlarge)
Click to Enlarge Name: eurcaddaily.png Size: 38 KB
Trade the facts, not opinions.
  • #3,331
  • Edited 11:11am Oct 22, 2013 9:01am | Edited 11:11am
Hello Dadas, hello guys!

I joined FF because this thread. I think this is what I wanted and the way I like to trade. There are four days I discovered this thread and I think I found here the best explanation of price action: simply and logically. This doesn't means "it's easy". I am here because I'm sure I'll need some help(and I'm sure I'll find it), even if I like to do the things on my own.
Two more words:
Congratulations, Dadas, for all this work! I'll try to be a good student.
Excuse my english, that's not my native language.
To all of you, good results!
  • #3,332
  • Oct 27, 2013 7:04am Oct 27, 2013 7:04am
Hi Dada, hello people.

I found a few days ago to your post. I find very interesting the trading approach. Got a little problem. I understand the English language poorly and has to translate everything with the Google translator in the German language. This I do not understand everything right. But I'll fight my way through.

Greetings from Germany
  • #3,333
  • Oct 27, 2013 10:13am Oct 27, 2013 10:13am
Quoting Mr.Tomson
Hi Dada, hello people. I found a few days ago to your post. I find very interesting the trading approach. Got a little problem. I understand the English language poorly and has to translate everything with the Google translator in the German language. This I do not understand everything right. But I'll fight my way through. Greetings from Germany

You can ask me in case youīre really stuck. I can translate for you if you need help
  • #3,334
  • Oct 27, 2013 12:49pm Oct 27, 2013 12:49pm
Quoting Christianfx
{quote} You can ask me in case youīre really stuck. I can translate for you if you need help
Thank you. I return to the offer. I have read the first few pages again by me. Have problems with the entry.
  • #3,335
  • Edited 7:02am Oct 29, 2013 6:51am | Edited 7:02am
Hi Guys, hope you're doing allright!

I am not stopping, I am evolving all the time.
I hope you're slowly following me, at your own pace!

I realise that my Method, though containing a lot of pearls,
has been lacking a good explanation of Entry procedures.

Well, I will now give you a great hint.

It is really all about Math!
Yes, the success in Trading, Profit in Trading boils down to pure Math.

Suppose someone tells you there is business to be made.
What would you ask that person, first?

Most people will ask how much Profit is there to be made?
WRONG question!!

The proper question is:
How much must I have in order to Risk in case I Lose!

So, once you have identified the trend and thus the direction of your Trades,
after you have found your PTECZ Support/Resistance Levels,
the first thing to do is identify your SL distance!!!

The next thing to do is to check if there is room to Take Profit = min 2 x SL.

That is it. If there is enough room, take the Trade.
If there isn't enough room, forget it!

The rest is Math.
Math will work if you help it work.
Math will work if you follow a checklist, a set of procedures.
Always.

When you break your own rules, you are betraying the Math.

Obviously, Math is one jealous Bitch!
"She" punishes you badly if you betray "her".
Trade the facts, not opinions.
  • #3,336
  • Oct 29, 2013 8:33am Oct 29, 2013 8:33am
Are you researching what I am researching? Yes, everyone should be aware of that. I was thinking of posting about this topic as well didnīt do it though because I thought itīs not really what this thread is about yet itīs so important.

Recently, when some questions about SL were brought up, how tight they should be and if they should be used at all (and I think itīs a legitimate debate) I had a look at this issue again as well. This issue is kinda following me in my trading career. And again I think in the long run it is better to use SL because what about the one time (and we know itīll happen) the market actually does go against your position? Where then do you get out if thereīs no SL?

Also, Iīve seen people narrowing down TPīs, which I also do and I think is good. However, bear in mind that small TPīs do not prevent from losses. In other wordsa high win/loss ratio doesnīt actually mean anything until one sees the trade balance. You can have many winners in a row but if the loser is big, well then one might not be better of than someone whoīs using a high reward/risk ratio but a smaller win/loss ratio.

Thereīs is a superstar hedge fund manager called Steve Cohan whoīs in the media for other reasons these days. However, I read an interview where he says his best trader has a winning rate of just above 60%. Think about that. Not much better than a coin toss. But the guy is printing money because he understands risk. (Apparently, there are many great traders who win less tthan 40% of the time and still make a lot of money. That doesnīt mean of course that we shouldnīt aim for more than that but it proves a point.

That brings me to my next point. I saw a great video on youtube. Hereīs what ou should do. Take a coin(50% win rate)Heads is a win, tails is a lose. Youīll always win at least twice as much pips than you lose, thatīs a 2/1 ratio. You can adjust that to a 3/1, etc. The person in the video said toss the coin at least 100 times. Believe me the results were surprising.
  • #3,337
  • Oct 29, 2013 1:27pm Oct 29, 2013 1:27pm
Quoting Christianfx
Are you researching what I am researching?
.... I read an interview where he says his best trader has a winning rate of just above 60%. Think about that. Not much better than a coin toss. But the guy is printing money because he understands risk.....
Take a coin(50% win rate)Heads is a win, tails is a lose. Youīll always win at least twice as much pips than you lose, thatīs a 2/1 ratio. You can adjust that to a 3/1, etc. The person in the video said toss the coin at least 100 times. Believe me the results were surprising.
We are connected in a way!

Together with Philipp, we are studying an EA.
I found it on the net, it wasn't creating any trades.
Phillip is a pro developer/programmer.
He took a look at it and fixed the logic.
It started producing trades. We tested it and were amazed at the results.

I took a closer chart look, and noticed that it was losing on Shorts but winning on Longs.
It turned out there was some error and the Longs didn't behave like the Shorts.
So, Philipp fixed the Longs, and the EA became a loser.

I told Philipp to put the error back in both directions, and he did it.
The EA started Profiting, and I mean, Profiting!

However, do you know what the win percentage is in long term?
The best win percentage it produces is at about 23%.
But the results come from SL = 4 / TP = 50.
The EA can lose for even weeks and then make it big when a strong trend comes up.

But, it must be left alone to do it's job in a long time, without any human intervenience.

Funny story about Heads or Tails, c/z I was also thinking about that.

You see, you got it wrong! The probability isn't 50%!
IOW, the probability of Heads is 50% and the probability of Tails is 50%, too!
But, that only if the conditions of the experiment are stable!

If you are lousy at the Heads or Tails game, you are a lousy Trader.
Why? Because you can't decide what you are testing!

The conditions of the experiment must be stable!
If you are testing the probability of Tails, then not Heads, and vice versa.
Next thing. Are you testing the probability of Tails when you put the coin Tails up before the toss?
Or the other way? Or maybe you can't decide???

And, are you always tossing the coin in the same way, the same force?
What about other conditions? Wind, sneezing, shaking hand, etc.?

So, what does the probability become?

Of course, the more times you toss, the less important the individual conditions become.
That's the law of great numbers.

In the end, we must help the math by keeping the conditions stable.
So, a set of rules, a checklist to go by and always go by it.

I already have mine.

BTW. I have been studying Murrey Math.
I have created Murrey_Dadas_Math.mq4 indicator and Murrey_Dadas_Entity.mq4 script.

In connection with this, the indi contains the checklist.
It is a brand new system, thus still in testing.
Here are 2 trades I took by the system, today.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdm5.png Size: 40 KB

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdm5_trade2.png Size: 39 KB
Trade the facts, not opinions.
  • #3,338
  • Oct 29, 2013 1:28pm Oct 29, 2013 1:28pm
Hi , can someone please tell me why the market was so dead today...is everyone waiting for NFP?
  • #3,339
  • Oct 29, 2013 1:29pm Oct 29, 2013 1:29pm
Hi dadas, have you tried your method on us crude? ?
  • #3,340
  • Oct 29, 2013 1:49pm Oct 29, 2013 1:49pm
Quoting mahk90
Hi dadas, have you tried your method on us crude? ?
My method works on every instrument.
Price Action is Price Action no matter to which chart it is applied.

BTW. I don't see anything unusual abut the Market, today.
Just another one day on the Market.

Stop asking stupid questions nobody knows the answer to!

Learn, learn, learn, practise, practise, practise, until you get it!
Trade the facts, not opinions.
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