Price Action in Day Trading by Dadas | Page 179 | Forex Factory

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Price Action in Day Trading by Dadas

  • #3,561
  • Apr 8, 2014 3:48am Apr 8, 2014 3:48am
Quoting ronneypab
I'm following this Price action system over 6 months and it's bit a good trading system. But you have to be good eyes for that. Anyway on new Meta Trader terminal required indicator not working. Can you help me to supply supported indicator for Meta Trader 4 build 625?
Which indicator, specifically, isn't working on Built 625?

On old version of MT4 indicators where in MetaTrader 4/experts/indicators
On new version of MT4 indicators are in MetaTrader 4/MQL4/Indicators
Thus, you should check first if the indicator in question is in that new folder path.
If it isn't there, you should put it there.

Then, it should be working as usual after compilation, either via Meta Editor, or by restarting the MT4 platform.

The new version of MT4 doesn't require to recode the old indicators.
It is backwards compatible, thus nobody is rewriting any "new version supported" indicators.
Trade the facts, not opinions.
  • #3,562
  • Apr 9, 2014 5:53am Apr 9, 2014 5:53am
The easiest way to access this folder is by clicking File / Open Data Folder. Click MQL4, then experts.
  • #3,563
  • Apr 9, 2014 10:43am Apr 9, 2014 10:43am
Quoting forex3747
The easiest way to access this folder is by clicking File / Open Data Folder. Click MQL4, then experts.
Well, if you want to give advice to others, this advice should be worth something.

Correct, you can use the File -> Open Data Folder which will take you to the ...\MetaTrader 4\ folder.
Yes, you click the MQL4 folder to access it.

But what you click next depends on what you are saving:
Experts - to save Expert Advisors (EA);
Files - to save any other files like logs, etc;
Include - to save .mqh include files and other subfolders;
Indicators - to save Indicators;
Libraries - to save .dll files;
Logs - to save .log files;
Presets - to save EA presets files;
Projects - to save the ongoing projects files;
Scrips - to save Scripts files.


So, NO, you don't then go to experts...
Trade the facts, not opinions.
  • #3,564
  • Edited 10:54am Apr 10, 2014 10:39am | Edited 10:54am
OK, so, I am finally getting the grasp on M1 trading - not scalping!

This is today's story on DAX30:
Attached Image (click to enlarge)
Click to Enlarge Name: [dax30]m1.png Size: 45 KB

First trade was nice, though I wasn't there to get the very top.
The Long was a huge mistake, still my old reactions on price going in one direction.
This is the hardest one to eradicate, happens instinctively, but I am close.
On the second Long attempt I figured it out and hedged it with a Short.
Got out of both at small Profits.
Next Short was too early. This time I forgot to wait till the top.
Thus, when Price stalled, I exited the trade and decided to wait for a BO direction.
That's why I entered the last Short where Price Broke Out.

Yes, now I can really say that Trading the M1 is a very good idea,
though it may take you a long, long time to get a hold of it.

Oh yes, it was +95 Pips and -35 Pips = +60 Pips.
Trade the facts, not opinions.
  • #3,565
  • Apr 11, 2014 6:57am Apr 11, 2014 6:57am
Today, what a day, so far!
I have to admit, I have messed it all up!
I entered perfectly in the morning, Short at the Top.
Attached Image (click to enlarge)
Click to Enlarge Name: [dax30]m1.png Size: 33 KB

But, I started reading the chart, the M1 chart, and I got dozens of ideas on the way.
True, there was a flat period, but it was very easy, I shoudl have, simply,
waited it out and looked for the Break Out, that's all.
Instead of all those trades, just 2 trades would give me only Profit.
But, in this situation, I am more like Even so far.
Trade the facts, not opinions.
  • #3,566
  • Apr 11, 2014 8:48am Apr 11, 2014 8:48am
Attached Image
Hello Dadas, I get confused sometimes , PTECZ are plotted from High to low or vice-versal, which one should I consider when I want to take a trade. I am asking this question because I noticed that PTECZ sometimes overlap on daily time frame with lot of PTECZ when I switch to the H4 time frame (same for other time frames). Should I consider the recent PTECZ in reference to historical levels when I want to take a trade or all PTECZ at same time
  • #3,567
  • Apr 11, 2014 9:06am Apr 11, 2014 9:06am
Quoting dapsy
{image}Hello Dadas, I get confused sometimes , PTECZ are plotted from High to low or vice-versal, which one should I consider when I want to take a trade. I am asking this question because I noticed that PTECZ sometimes overlap on daily time frame with lot of PTECZ when I switch to the H4 time frame (same for other time frames). Should I consider the recent PTECZ in reference to historical levels when I want to take a trade or all PTECZ at same time
Well, it takes time and practise to be able to see what Price is doing inside the PTECZ.

Dapsy, please read the whole thread as many times as neccessary for you to understand!
This is not a 0 or 1 system, there is no such system.
PTECZ is a consolidation zone.
If you understand how this market works,
how and why the price plots what you see on the chart,
you will be able to understand the PTECZ!

You seem to lack the Elementary School.
Trade the facts, not opinions.
  • #3,568
  • Apr 11, 2014 9:13am Apr 11, 2014 9:13am
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpyh1.png Size: 27 KB
Trade the facts, not opinions.
  • #3,569
  • Apr 11, 2014 10:02am Apr 11, 2014 10:02am
Quoting Dadas
{quote} Well, it takes time and practise to be able to see what Price is doing inside the PTECZ. Dapsy, please read the whole thread as many times as neccessary for you to understand! This is not a 0 or 1 system, there is no such system. PTECZ is a consolidation zone. If you understand how this market works, how and why the price plots what you see on the chart, you will be able to understand the PTECZ! You seem to lack the Elementary School.
And what will the elementary school be please, because what I learnt hear is that the balance in Fx is always 0, the williness of buyers and sellers push the price up or down depending on those that are able to dominate. Price consolidate when the strength of the buyers= the strength of bear, during this period, price tend to do three things, remain in the consolading state, break up or break down.
Am sorry if it looks as if am drawing you back..... I have to be go at this please.
  • #3,570
  • Apr 11, 2014 10:28am Apr 11, 2014 10:28am
Quoting dapsy
{quote} And what will the elementary school be please, because what I learnt hear is that the balance in Fx is always 0, the williness of buyers and sellers push the price up or down depending on those that are able to dominate. Price consolidate when the strength of the buyers= the strength of bear, during this period, price tend to do three things, remain in the consolading state, break up or break down. Am sorry if it looks as if am drawing you back..... I have to be go at this please.
Not during that period, but always!

What do you need if you want to buy?
You need the other side who wants to sell!

What do you need if you want to sell?
You need the other side who wants to buy!

So, if you are a Fat Finger Guy and you want to sell,
but there isn't anybody willing to co-operate at your volume level, what must you do?
You must push the price up, buy until you find the other side.

This is Elementary School which you must understand.

I mean, understand, not just say you understand the words.
Trade the facts, not opinions.
  • #3,571
  • Apr 11, 2014 10:33am Apr 11, 2014 10:33am
Quoting Dadas
{image}
All the PTECZ in the picture are opposit candles at swing points
  • #3,572
  • Apr 11, 2014 10:40am Apr 11, 2014 10:40am
Quoting dapsy
{quote} All the PTECZ in the picture are opposit candles at swing points
Yes, that is the PTECZ.
Trade the facts, not opinions.
  • #3,573
  • Apr 11, 2014 10:50am Apr 11, 2014 10:50am
Quoting Dadas
{quote} Yes, that is the PTECZ.
Hmmmm, never thought of that befor, am back to class
  • #3,574
  • Edited 5:24am Apr 12, 2014 3:45am | Edited 5:24am
Right, so, evolution continues!

Things are so obvious, yet so hidden from our consciousness!

If I can plot myself the true trend, thus the simplest trend trading rules
everyone must have learned at the begining of their FX adventure, must apply!
It was always the problem, am I plotting the trend line correctly???

Since I already have my Dadas_True_Trend indicator, I can make it plot extended trend lines!
Not only the horizontal line extensions, but the trend line extensions, as well!
Obviously, if the indy plotted all the trend line extensions, we would see a thick mesh of lines.

Thus, I have introduced two lines in the parameters inputs:
Attached Image

So, in the new Dadas_True_Trend_Indi_v3.4.mq4
you can see as many trend lines extensions as you like.
I suggest not more than 3 (by default).

I also suggest settings to get this picture:
Attached Image (click to enlarge)
Click to Enlarge Name: [dax30]m1.png Size: 64 KB
Attached File(s)
File Type: mq4 Dadas_True_Trend_Indi_v3.4.mq4   9 KB | 607 downloads
File Type: ex4 Dadas_True_Trend_Indi_v3.4.ex4   18 KB | 490 downloads
Trade the facts, not opinions.
  • #3,575
  • Apr 14, 2014 2:48am Apr 14, 2014 2:48am
So, a bit on how to trade my new baby!

There are certain patterns of 2 Trendlines, please take the time to observe them.

Best results seem to be when trading the Trend Crosses:
Attached Image

The Pivot Zone is H1, so as soon as the new H1 started,
I saw the Goldenrod & LimeGreen M15 Trendlines,
I saw the BO from the Triangle Pattern formed by the Trendlines and BO from the Pivot Zone.
I Entered Long.

Trading along the Trendlines when already far away from the Cross is very Risky.

Generally, there are 3 phases of a Trend:
Flat - Slope - Steep
Flat means anything close to horizontal.
Slope means anything looking close to 45 deg angle.
Steep means anything going in the direction of vertical.

That's where you watch general PA in relation to the 2 Trendlines.
Trade the facts, not opinions.
  • #3,576
  • Edited 1:06pm Apr 14, 2014 11:57am | Edited 1:06pm
Thus, practising trading on Dadas_True_Trend_Indi_v3.4.mq4
Attached Image (click to enlarge)
Click to Enlarge Name: [dax30]m1.png Size: 51 KB

I must say it has been a good day, and this concept is a very good concept!

PS. Maybe I forgot to mention, but this is +104 Pips on M1 in 6 Trades, 4 wins, 2 losses.
Trade the facts, not opinions.
  • #3,577
  • Apr 14, 2014 12:10pm Apr 14, 2014 12:10pm
I am also forced to admit, that reading every individual Candlestick is pretty much useless,
very brain-power consuming, and not neccessary to become a good, profitable trader.

Thus, if anyone wants to know more than neccessary, please be welcome to study my whole thread.

However, to make your life more simple, begin with:
Dadas_True_Trend_Indi_v3.4.mq4
Dadas_Custom_Range_Stats.mq4 (new version includes Quadrant Zones with Pivot Zone)
They are all you need.

In case you still don't have them, I attach them, hereunder.

If you need coaching on how to apply them, contact me on SKYPE.
Attached File(s)
File Type: mq4 Dadas_True_Trend_Indi_v3.4.mq4   9 KB | 780 downloads
File Type: ex4 Dadas_True_Trend_Indi_v3.4.ex4   18 KB | 610 downloads
File Type: mq4 Dadas_Custom_Range_Stats.mq4   28 KB | 826 downloads
File Type: ex4 Dadas_Custom_Range_Stats.ex4   36 KB | 661 downloads
Trade the facts, not opinions.
  • #3,578
  • Apr 14, 2014 12:18pm Apr 14, 2014 12:18pm
Quoting modrick
Thanks for sharing dadas, you're almost done... what your email please? thankyou...
I would not like to post my email here, because spambots are just waiting for such an opportunity.
My SKYPE: autobusyuzywane.pl
Please, contact me in this way.
Trade the facts, not opinions.
  • #3,579
  • Apr 14, 2014 1:17pm Apr 14, 2014 1:17pm
And, please, please, don't waste my time by trying to reveal "secrets" of FX like 3 Candles in one direction,
and asking me to create yet another indicator, which shows nothing useful!!!
There are no secrets of Forex, unless you are stupid enough to believe somebody who is telling you such BS!

Everything is on the charts, if you are willing to learn to read them.

But, ultimately, it is all about Trend and the simple Trade Management rules!!!

The Holy Grail of Forex has never been hidden!
It has always been right there, before your eyes!

It is only you who doesn't believe that and is looking for the Holy Grail in the most unthought places!
Trade the facts, not opinions.
  • #3,580
  • Apr 15, 2014 8:13am Apr 15, 2014 8:13am
Trades today, so far:
GBPJPY M1 +21 Pips
Attached Image

GBPJPY M1 +2 Pips
Attached Image

XAUUSD M5 +51 Pips
Attached Image
Trade the facts, not opinions.
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