Price Action in Day Trading by Dadas | Page 175 | Forex Factory

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Price Action in Day Trading by Dadas

  • #3,481
  • Mar 18, 2014 3:08am Mar 18, 2014 3:08am
Attached Image (click to enlarge)
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This is where it came from:
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Click to Enlarge Name: eurusd-h1-admiral-markets-as.png Size: 74 KB
Trade the facts, not opinions.
  • #3,482
  • Mar 18, 2014 3:12am Mar 18, 2014 3:12am
Quoting MickB81
Hi Dadas, I have been reading the very first pages of your thread, I am very serious about trading full time and would like to go through the whole thread and learn your ideas and ways however I found that most of the pictures are now either not working or have been deleted, just wondering if there is anyway to get them so I can get a visual also. Thanks Michael
I have no idea what happened.
I didn't delete any images.
About understanding the charts, here is the link:
http://www.fx-nvatc.comeze.com/charts_en.html
Otherwise, you can get me on SKYPE and I will help you.
Trade the facts, not opinions.
  • #3,483
  • Mar 18, 2014 3:15am Mar 18, 2014 3:15am

Guys, today is our anniversary!


Trade the facts, not opinions.
  • #3,484
  • Mar 18, 2014 3:18am Mar 18, 2014 3:18am
Hi Dadas,
Your effort in putting up this trend is highly appreciated. I just started reading the trend, I hope to learn true price action from your trend, it gives me a new perspective of naked price action.

Happy Anniversary






Edited cos I found out that my question had been answered in a recent post by Dadas
  • #3,485
  • Mar 18, 2014 5:27am Mar 18, 2014 5:27am
tanks for your coach in here sir...I always learn how to good trader with your idea...




happy anniversary Mr.dadas
  • #3,486
  • Edited 4:04pm Mar 19, 2014 3:46pm | Edited 4:04pm
Hi Dadas, I have gone through the first 30 pages of the trend and wish to post what I have learnt about PTECZ for assessment so that I can know whether to proceed with my reading/practice or to re-read for more/better understanding. Thanks for the trend, teachings, mentor-ship and revelation.
PAIR: EUR/USD
Attached Image
Attached Image
  • #3,487
  • Mar 20, 2014 12:24am Mar 20, 2014 12:24am
Quoting dapsy
Hi Dadas, I have gone through the first 30 pages of the trend and wish to post what I have learnt about PTECZ for assessment so that I can know whether to proceed with my reading/practice or to re-read for more/better understanding. Thanks for the trend, teachings, mentor-ship and revelation. PAIR: EUR/USD {image}{image}
First, please learn English!!!
"Price Action in Day Trading by Dadas" is a "thread" on ForexFactory.com.
"Trend" is what goes up or what goes down - Price in this case.
"GDPUSD" - What pair is this??? Please, first learn your financial instruments!!!
Attached Image

Attached Image

We plot PTECZ from High to Low.
And, I haven't pointed all of them on the images.
Trade the facts, not opinions.
  • #3,488
  • Mar 20, 2014 3:54am Mar 20, 2014 3:54am
What I am about to say, here, may be the most important post of my entire thread.

I want to make a few things clear to you.
If anyone ever tells you that Daytrading is about waiting,
they know very little about Daytrading, even if they are highly successful.

The analysis, no matter which method used, is the simplest element of trading.
Of course, it is the most basic element which every trader must learn.

The goal of Daytrading, as I see it, is to take advantage of the significant Price movements during the Day.
The art of Daytrading requires the constant active analysis of the situation on the chart!
Not only to Enter at the best moment and in the most likely direction,
but also to get out of a bad trade as soon as the trader realises this fact, or
in order to actively manage the Stop Loss while understanding what is going on on the Market.
This is not just waiting, but active brainstorming!
This is not about opening 1 or 2 trades and looking for 8 hours at the charts and wishing!

I became first interested in Forex about June 2011.
I started this thread in March 18, 2013.
I have, really, started to Daytrade the way it should be done, today, March 20, 2014.
Thus, it has taken me a little short of 3 years' time to get to this point.

If there are others who had achieved this in a shorter time, I take my hat off and bow before them!
I am, simply, much more stupid then they are.

I hope that this post will make you understand or realise the facts about Daytrading.
Trade the facts, not opinions.
  • #3,489
  • Edited 5:35am Mar 20, 2014 5:10am | Edited 5:35am
So, last evening I sat down and analysed all the instruments my broker provides,
except for Indices and Stocks. Before that I customized my MT4 Market window
leaving only the instruments I wanted and ordering them in my order.

This morning, I sat down and did my analysis of the 9 chosen instruments,
on my new, simple template using only my simplified Dadas_Fibo_Trade_Layout_Script.mq4.

First, GOLD:
Attached Image (click to enlarge)
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GOLD was pretty straightforward: D1 Bear, H4 Bear, plot my simplified Dadas_Fibo_Trade_Layout_Script.mq4,
look at H1, Enter the trade. I didn't even bother to Enter precisely from M5.
Half way of my TP Level, I booked about 1/2 of my Profit, and I moved SL to BE.
As the situation revealed, I trailed the SL to secure about 50 Pips.
I wasn't willing to wait any longer, so I booked the rest.

In the meantime, I was and still am piloting the other of my 4 trades.
I will discuss those later.
Trade the facts, not opinions.
  • #3,490
  • Mar 20, 2014 6:05am Mar 20, 2014 6:05am
I also chose GBPJPY and EURJPY to trade, today.
There is a story, here, which shows what I have written 2 posts earlier.
Somehow, initially I figured out Short on GBPJPY, but without strong reasons,
and I figured out Long on EURJPY. And I actively monitored the trades.
After a while, I realised that something was wrong about this direction confusion.
EURJPY wasn't willing to go up, GBPJPY wasn't willing to go any direction.
So, I did the analysis one more time, maybe 5 times all together.
I closed the Long on EURJPY on any profit. And I went Short.
Then, I did as with GOLD, booked 1/2, later closed whatever was available.
I am not waiting till next news.
Attached Image (click to enlarge)
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With GBPJPY, the story was that price wasn't going South together with EURJPY, and it was pushing upwards.
I didn't like my floating loss, so I closed it at reasonably low loss.
I still could have repeated the Short, but I wasn't monitoring this pair any more.
Attached Image (click to enlarge)
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Trade the facts, not opinions.
  • #3,491
  • Mar 20, 2014 6:36am Mar 20, 2014 6:36am
And, the last trade for now, EURGBP.
I entered this trade last evening c/z I saw an opportunity on H4.
Today, I monitored the trade and followed the same procedure,
however, this time I waited and got the trailed SL.
Attached Image (click to enlarge)
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Basically, this should complete my trading day.
Started about 7:00 a.m. now 14:30 p.m.
A standard +/- 8 hours of work.
Trade the facts, not opinions.
  • #3,492
  • Edited 8:14am Mar 20, 2014 7:48am | Edited 8:14am
In case you haven't noticed, the new version of MT4, integrated with MT5
provides the opportunity to view Profit in Points instead of in currency.
This makes it much easier to monitor many trades.

I like this new version a lot.
It gives plenty new possibilities, also in programming.
Trade the facts, not opinions.
  • #3,493
  • Mar 20, 2014 9:12am Mar 20, 2014 9:12am

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Trade the facts, not opinions.
  • #3,494
  • Mar 20, 2014 3:12pm Mar 20, 2014 3:12pm
Quoting Dadas
{quote} First, please learn English!!! "Price Action in Day Trading by Dadas" is a "thread" on ForexFactory.com. "Trend" is what goes up or what goes down - Price in this case. "GDPUSD" - What pair is this??? Please, first learn your financial instruments!!! {image} {image} We plot PTECZ from High to Low. And, I haven't pointed all of them on the images.
:-) I appreciate the response, the first pair is EUR/USD, I think I need to go over the thread again. I need to understand what price action truly is and how to trade using this method, as for my English, I believe I'll get better as time goes on.
  • #3,495
  • Mar 21, 2014 12:33am Mar 21, 2014 12:33am
Quoting dapsy
{quote} :-) I appreciate the response, the first pair is EUR/USD, I think I need to go over the thread again. I need to understand what price action truly is and how to trade using this method, as for my English, I believe I'll get better as time goes on.
Attention to detail is the important issue, here.
I mean, attention to the smallest detail.
If you want to be expert in true Price Action,
you must learn to read information from the movements of the Bid Line.
Of course, if you are interested in Daytrading, because long term trading,
or swing trading the D1 charts doesn't require to watch PA in current time.
However, you still must understand what the story of the Candlesticks is telling.

Look closely at the charts, again.
What do you see?
Trend, Consolidation, Trend, Consolidation, Trend, Consolidation...
PTECZ is a certain type of Consolidation, one that can be used to trade.
Trade the facts, not opinions.
  • #3,496
  • Mar 21, 2014 5:04am Mar 21, 2014 5:04am
Today just 1 trade, on GOLD:
Attached Image (click to enlarge)
Click to Enlarge Name: goldm5.png Size: 85 KB
Trade the facts, not opinions.
  • #3,497
  • Mar 21, 2014 7:59am Mar 21, 2014 7:59am
2nd attempt on GOLD:
Attached Image (click to enlarge)
Click to Enlarge Name: goldm15.png Size: 82 KB
Trade the facts, not opinions.
  • #3,498
  • Mar 21, 2014 11:11am Mar 21, 2014 11:11am
So, here is the summary of my trades from today:
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Click to Enlarge Name: goldm5-.png Size: 81 KB

The last two trades:
First, I was counting on a bigger move.
It started, but quickly died out.
So, I closed with small Profit.
The last one, I was going for news effect, which was possible, but nothing happened.
Trade the facts, not opinions.
  • #3,499
  • Mar 24, 2014 5:54am Mar 24, 2014 5:54am
A pretty good trade, but I totaly dislike the Entry!
Attached Image (click to enlarge)
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Trade the facts, not opinions.
  • #3,500
  • Mar 24, 2014 8:08am Mar 24, 2014 8:08am
Now, this Entry I like much better!
Attached Image (click to enlarge)
Click to Enlarge Name: goldm5_.png Size: 78 KB
Trade the facts, not opinions.
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