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Price Action in Day Trading by Dadas

  • #3,401
  • Dec 31, 2013 3:58am Dec 31, 2013 3:58am
HI daddas
wow a very refreshing system i am sure must be 100% proof but now had to learn it hmm that the hard part will try my best but will take time sure will read all have plenty time for it so again many thanks for helping
sincerely
GILBERT
  • #3,402
  • Jan 2, 2014 7:31am Jan 2, 2014 7:31am
Hi everybody in the new 2014!

"Let's hope it's a good one!"

Let's hope it's a HaPiPy One!

I want to start off with a new present for you!
Dadas_Fibo_Trade_Layout_Script.mq4
Attached File(s)
File Type: mq4 Dadas_FIBO_Trade_Layout_Script.mq4   15 KB | 525 downloads

Attached File(s)
File Type: ex4 Dadas_FIBO_Trade_Layout_Script.ex4   5 KB | 448 downloads

Here is the picture:
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpym15.png Size: 121 KB

If you need further instruction, I'll be happy to give you some personal training!
Trade the facts, not opinions.
  • #3,403
  • Jan 2, 2014 11:17am Jan 2, 2014 11:17am
Warning!!!
Beware of Broker manipulation!!!

I have just discovered a very keen way how your broker can manipulate Price Action!
First, look at the EURUSD M15 chart plotted at normal 15-minute intervals:
Attached Image

Price action looks very clear with Bullish Break Outs.

Now, the same EURUSD M15 chart plotted at shifted 15-minute intervals:
Attached Image

The hour starts 3 minutes later, not on the hour, but 3 minutes past the hour.
This trick completely confuses the Trader by changing the actual Price Action!
Trade the facts, not opinions.
  • #3,404
  • Jan 2, 2014 12:14pm Jan 2, 2014 12:14pm
Hello!
Excuse me, Dadas, I didn't understand. The two charts are from the same broker? What do you mean by "shifted 15-minutes intervals"? If the charts aren't from the same broker, I think you called "shifted 15-minutes intervals" the chart with the hour wich starts 3 minutes later. Is this the case?
I think every broker uses one or more tricks. What could we do?
  • #3,405
  • Jan 2, 2014 2:03pm Jan 2, 2014 2:03pm
Quoting pipmate
Hello! Excuse me, Dadas, I didn't understand. The two charts are from the same broker? What do you mean by "shifted 15-minutes intervals"? If the charts aren't from the same broker, I think you called "shifted 15-minutes intervals" the chart with the hour wich starts 3 minutes later. Is this the case? I think every broker uses one or more tricks. What could we do?
Both charts are from the same broker.
The unshifted, normal is on the demo server.
The shifted one is on the real account server.

Yes, the Candles are 15 minutes, but they begin 3 minutes later.
Ie. 13:00 begins at 13:03 and it continues since 00:00 broker time.
This completely changes Price Action, especially at smaller volatility periods.

What can we do? Be cautious and observant.
If you see the time on the Candle which is not in exact interval it should be, don't trade from that chart!
If you still want to trade, trade from another chart which is correct.
Trade the facts, not opinions.
  • #3,406
  • Jan 2, 2014 2:12pm Jan 2, 2014 2:12pm
Thank you!
About this trick, it is absolutely clear what we have to do. But we have to discover all the other tricks, and it is not easy. Anyway, thanks again for the advices.
  • #3,407
  • Jan 7, 2014 11:14am Jan 7, 2014 11:14am
Quoting Dadas
A simple practise strategy to help better understand Price Action in Action In this strategy we will use the Candle Shadow Consolidation Zone (CSCZ). Let us take a look at the following situation: {image} On the EURUSD H1 we see that after a strong Bullish Trend the price, obviously Consolidated. After a long Bullish Candle, practically without Shadows, the next Candle Closed with a short Body, a long upper Shadow and a shorter bottom Shadow. With the aid of the Rectangle tool we can draw the CSCZs on the H1 Candle, as seen on the above picture....
Hi Dadas,

First of all thanks a lot for initiating such an informational thread. I have just started reading the thread from start and I am liking it already. However, in the quoted post, I am unable to see the referred picture of EURUSD H1 chart.

Am I missing something ?
  • #3,408
  • Jan 9, 2014 7:12am Jan 9, 2014 7:12am
I feel like sharing my thoughts with you.

You, know how I said that 20 Pips per day is more than enough?
And, some of you are taking 5 Pips at huge leverage, or just 5 Pips, cause you're afraid.
Others are trying to "minimize" risk by risking (read "losing") 1% or 2% or 3% of the balance.

Well, you know, all that type of thinking is simply WRONG!

I'm not saying that it can't work for some people, just that it is wrong!

It is wrong because the market doesn't care for what we want.
It is wrong because the market won't listen to our 2% risk.
It is wrong because at Take Profit 20 Pips we must apply minimum 1/2 Risk/Reward.
Which makes our Stop Loss ridiculously small if we want to risk 2% or so.

So, what is the right way of thinking?
There is only one right way, and it is the way of the market.

Still applying the rule of 1/2 Risk/Reward, we must find the reasonable Stop Loss distance.
And we can do that, but not by wanting 20 Pips a day!
We must figure out the Potential of that move which we have figured out by our analysis.

Only then, can we figure out the reasonable Risk_Reward_SL.
If, after that, we want to take only 2% risk, we must figure out the Lot_Size which will allow us the Risk.
So, often you will not be able to take the trade at all, if your Balance is too short.

However, this is the only right way to do it!

Don't ask yourself how many Pips you want!
Instead, ask how many Pips the market is offering you!
And go for it!

There is a tool which can help you answer that question.
The tool is called Fibonacci Levels.
But, I don't use Fibo's in the standard way as tought.
I use it to plot the whole Trade Layout in advance:
Attached Image (click to enlarge)
Click to Enlarge Name: gold-h1-admiral-markets-as-2.png Size: 61 KB

Then, I trail the Stop Loss according to the described Levels.

And, I have managed to make a strict set of rules to identify the direction of the Trade.
I wrote them down as Sticky Notes and I check on them every time I do my analysis.
I've also made a Checklist for each of my portfolio instruments.

So, to conclude, it is not what you want that matters!
It is what the Market is offering which matters!

It is that understanding which will make you a real Trader!
Trade the facts, not opinions.
  • #3,409
  • Jan 9, 2014 7:17am Jan 9, 2014 7:17am
Quoting bulbuli
{quote} Hi Dadas, First of all thanks a lot for initiating such an informational thread. I have just started reading the thread from start and I am liking it already. However, in the quoted post, I am unable to see the referred picture of EURUSD H1 chart. Am I missing something ?
Yup, you're missing the following posts you haven't read, yet.
Try a different browser, it seems to help.
This is a certain issue which I can't fix, cause I can't edit that post any more.
The images in that post are on an external server, and this causes some unidentified issues.
Trade the facts, not opinions.
  • #3,410
  • Jan 9, 2014 12:27pm Jan 9, 2014 12:27pm
So, this is how it works:
Attached Image (click to enlarge)
Click to Enlarge Name: gold-h1-admiral-markets-as-2.png Size: 57 KB

I got SL-ed on the first trade.
Well, if I had followed my system, I would have Broken Even at a slight Profit at Break_Out Line.
But, as it happens, we are not always there to take proper action.

However, no sweat, because I just need to follow up.
So, next trade in the same direction because of my rules.

This time I don't wait, because of time of day.
I minimize my expectations and I am satisfied with just a little Profit.
Trade the facts, not opinions.
  • #3,411
  • Jan 9, 2014 5:47pm Jan 9, 2014 5:47pm
Happy New Year, everyone. I havenīt been posting here muc lately because, well not too much to add. I doubled my account in about two month. (Itīs true, it kinda skeaks up on you) until I relaized, well actually not bad.

I couldnīt agree more with the latest posts. It might look easy to say that now but ithīs the truth. I never really liked those certain amount of pips a day suff and I never really used it. Itīs not for me. I like to look at the market. I pretty much used the Significant Candle Breaks as a core. Over time I adjusted my strategy. There are other influences that flow in my style as well. Different things are coming together. However, I want to say I have absolutely nothing on my charts any more (except sometimes ATR). Not even the latest tools developed here.

I just donīt need them. I "know" where price is going pretty well now. Spend time on that! I trade off of price. If thereīs one thing that Iīd recommend to anyone who is struggling. Do not go lower than the Daily timeframe. At least for determining direction. I think a lot of problems can be fixed by ust sticking to that rule. Intraday is different. Which candles can you trust? Is the 8 am London candle as important as the 10pm one?

I think at the end of the day one can use andy tool or whatever and make money as long as the workings of the market is understood. But once one understands the market/price one can trae freely and much more efficient, tools and other things drawn on the chart become useless.
  • #3,412
  • Jan 10, 2014 4:00am Jan 10, 2014 4:00am
Quoting Christianfx
Happy New Year, everyone. I havenīt been posting here muc lately because, well not too much to add. I doubled my account in about two month. (Itīs true, it kinda skeaks up on you) until I relaized, well actually not bad. I couldnīt agree more with the latest posts. It might look easy to say that now but ithīs the truth. I never really liked those certain amount of pips a day suff and I never really used it. Itīs not for me. I like to look at the market. I pretty much used the Significant Candle Breaks as a core. Over time I adjusted my strategy....
Very well spoken, Christianfx!

I know it's all about psychology, and that's where the tools come in handy.
Especially if you know what they are doing, how they work.

That's why I need all those landmarks on my charts.
They help me stick to my own rules and not deviate from them.
Like: "Don't go Short above Short Ichimoku cloud!"
Or: "Don't go Long below Long Ichimoku cloud!"
Since it turns out that most of the times those rules are true,
it is not worth the risk to trade those directions in those conditions.
Even though some signals could suggest trading in those directions.

I don't pay attention to any specific hour Candle.
I pay attention to the signals in accord with my rules.
The actual trading Break Out Level could be further to the left or closer.
RSI helps here in the Oversold/Overbought context.
The trick to successful application of RSI is to know when to use it and when to ignore it.

The Fibonacci Math Trade Layout combined with the Risk_Reward_SL as initial SL Level
really proves to be an accurate tool for setting up the trade.
As yesterday's situation has proved, yet another time:
Attached Image (click to enlarge)
Click to Enlarge Name: gold-h1-admiral-markets-as.png Size: 61 KB


And yes, right said, understanding the workings of the market is the clue.
Next comes the integration of this theoretical understanding.
This requires getting rid of emotion, completely, and still a lot of practice.
The moment you can actually understand from Price Action what some guys are doing out there,
is the moment when you know why Price is behaving the way it is, and unless some big issue,
you know what it is most likely to do next.

A perfect example on the chart above:
That big spike down on the left.
Somebody played the Sell/Buy trick, but another Quant was smarter and figured it out and Bought a big chunk at bottom.
So, what must come next?
If he had Bought, he will have to Sell (close the trade).
He can't Sell the whole chunk at once, cause he is risking losing.
So, he must Sell in parts, but he must Sell it all.
Thus, we say that Price is retesting the Level.
Of course, there are others joining in on the way.

This is a perfect job for RSI and my version of Ichimoku cloud.

"Don't trade Short above Short Ichimoku cloud!"

Yes, put the blocks together until they click in the right place!
Trade the facts, not opinions.
  • #3,413
  • Jan 12, 2014 5:40am Jan 12, 2014 5:40am
-I can not and do not know: how to get the main parameters in the same automated Ichimoku 's way bees - Dadas!. Kumo H1 TF does not generate support area - posted flat as shown above
- Thanks to the help - Many thanks!
( My English is very bad - please ignore! )
Attached Image (click to enlarge)
Click to Enlarge Name: aaaaaaaaa.png Size: 52 KB
  • #3,414
  • Jan 13, 2014 2:48am Jan 13, 2014 2:48am
Quoting meoden
-I can not and do not know: how to get the main parameters in the same automated Ichimoku 's way bees - Dadas!. Kumo H1 TF does not generate support area - posted flat as shown above - Thanks to the help - Many thanks! ( My English is very bad - please ignore! ) {image}
First, you need Dadas_Mod version of Ichimoku indicator:
Attached File(s)
File Type: mq4 Ichimoku_Dadas_Mod.mq4   6 KB | 485 downloads

Attached File(s)
File Type: ex4 Ichimoku_Dadas_Mod.ex4   7 KB | 382 downloads

The Parameters are as follows:
Attached Image

Attached Image

To cancel the other Ichimoku lines:
Attached Image

Of course, feel free to experiment with inputs if you wish!
Trade the facts, not opinions.
  • #3,415
  • Jan 13, 2014 4:21am Jan 13, 2014 4:21am
- Thank you very much!
- I found the light from this thread;
- Trying to learn from DADAS!
  • #3,416
  • Jan 27, 2014 3:50am Jan 27, 2014 3:50am
- Practice new method of continuous DADAS;
- In this case I define H1 candle trend so true?
- The learning process is nothing comparable to methods PTECZ!
To combine good and really effective too!
Excellent again!
Attached Image (click to enlarge)
Click to Enlarge Name: dadas11111111111111.png Size: 44 KB
  • #3,417
  • Jan 27, 2014 8:18am Jan 27, 2014 8:18am
Quoting meoden
- Practice new method of continuous DADAS; - In this case I define H1 candle trend so true? - The learning process is nothing comparable to methods PTECZ! To combine good and really effective too! Excellent again! {image}
My friend, please drop your excitement!
You still have a very long way to go before you really understand trading.
Trade the facts, not opinions.
  • #3,418
  • Jan 27, 2014 9:43am Jan 27, 2014 9:43am
- Reason trigger signal PTECZ order under W1, PTECZ H4 (Demo)
- Try to perfection by learning techniques that DADAS;
- If there is wrong please help me edit;
Thanks for your interest!
Attached Image (click to enlarge)
Click to Enlarge Name: DADAS 222222.png Size: 47 KB
  • #3,419
  • Jan 27, 2014 1:37pm Jan 27, 2014 1:37pm
Quoting meoden
If there is wrong please help me edit; Thanks for your interest! {image}
Your English - Big Problem.
Trade the facts, not opinions.
  • #3,420
  • Feb 5, 2014 11:47pm Feb 5, 2014 11:47pm
Quoting Dadas
I am open to new ideas, as long as they make sence. There is always something to learn, if you can listen to what someone else is saying. The last video I posted is very informative and carries a few pearls. One of the most important information in understanding Price Action is Price Volume. The MT4 Volume Indicator is poor. I would recommend the SonicR PVA Volumes(White).mq4 or SonicR PVA Volumes(Black).mq4 together with the Normalize_Volume_Oscilator.mq4 also from the SonicR packet V3, found in the packet, here: http://www.forexfactory.com/attachme...2&d=1247195867...
hello.. master dadas..
sorry.. maybe im little out of your thread topic..
but im little interested with your idea about using candle indi from sonic R system..

about money being controlled by small bigboys..
what happened to them.. did you find it wasn't good idea afterall??

im learning about orderflow-darkstar method nowadays..
so.. your idea about those candle indi little bug me.. because maybe i can develop my analysis by defining market bias with your idea..
thanks..
sorry for bring up an old stories.. wish best for you
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