Price Action in Day Trading by Dadas | Page 183 | Forex Factory

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Price Action in Day Trading by Dadas

  • #3,641
  • May 25, 2014 2:46pm May 25, 2014 2:46pm
Quoting safrash
{quote} Hello, Dadas What is Candle on the chart? {image}
A trend candle.
Trade the facts, not opinions.
  • #3,642
  • May 25, 2014 2:52pm May 25, 2014 2:52pm
Quoting Dadas
{quote} A trend candle.
Excellent
Then why is perceived as Zone Candle?
  • #3,643
  • May 25, 2014 2:58pm May 25, 2014 2:58pm
Quoting safrash
{quote} Excellent Then why is perceived as Zone Candle?
Because you are trading the D1 CZC.
Which means that your background refferrence is the last D1 closed candle.
CZC is any chosen candle.

If you are looking for some magic indicator, you are on the wrong thread.
This thread is about trading, not about magical indicators.
Trade the facts, not opinions.
  • #3,644
  • May 25, 2014 3:01pm May 25, 2014 3:01pm
Quoting Dadas
{quote} Because you are trading the D1 CZC. Which means that your background refferrence is the last D1 closed candle. CZC is any chosen candle. If you are looking for some magic indicator, you are on the wrong thread. This thread is about trading, not about magical indicators.
Ok, good answer, thanks
  • #3,645
  • May 25, 2014 3:10pm May 25, 2014 3:10pm
Quoting Dadas
Guys, I have just noticed a small error in the Custom_Zone_Candle.mq4 There is a choice to switch it on or off on the chart without removing the indicator. It should automatically delete all the Zones it had drawn. There was an error, and I have corrected it. The corrected file is where it was before and here. {file}
What is last version of Custom_Zone_Candle
http://www.forexfactory.com/showthre...=416131&page=3

in this link I saw Script, but don,t know how install, have installed in Scripts folder, not working
  • #3,646
  • May 26, 2014 12:14am May 26, 2014 12:14am
Quoting safrash
{quote} What is last version of Custom_Zone_Candle http://www.forexfactory.com/showthre...=416131&page=3 in this link I saw Script, but don,t know how install, have installed in Scripts folder, not working
I strongly suggest that you put your case together, learn English and read with understanding!
Custom_Zone_Candle.mq4 has always been an Indicator.
111_Draw_HILOBAR_Zone.mq4 is a Script.
Trade the facts, not opinions.
  • #3,647
  • May 26, 2014 11:58am May 26, 2014 11:58am
Hi Dadas
Where I can read information about candles, engulfing, pin bar and other patterns of Price Action?
Thanks
  • #3,648
  • Edited 12:18pm May 26, 2014 12:06pm | Edited 12:18pm
Quoting safrash
Hi Dadas Where I can read information about candles, engulfing, pin bar and other patterns of Price Action? Thanks
Well, if you want more confusion to your mind, simply Google: "Japanese Candlestick Patterns"
Please keep in mind that the candlestick chart was invented over 400 years ago,
and the patterns that seemed to mean something then, don't mean anything today,
especially on volitile markets.

All the necessary information to trade is in my thread.
If you need anything else, look elsewhere.

The ability to read the charts has nothing to do with candlestick patterns.
I have explained how to read the candlesticks in my first posts.
If you want to learn to read the candlesticks, you must do just that: READ THE CANDLESTICKS!!!

The ability to TRADE has nothing to do with any patterns, candlesticks, geometry, Fibos, Elliots, Indicators,
or anything you have ever heard or read!
To TRADE means to Enter and Exit Trades and Manage the Risk and Money.

And one more thing:
If you expect to learn to trade in a few days or weeks, forget it!
Call me in minimum 3 years time from now.
Trade the facts, not opinions.
  • #3,649
  • May 26, 2014 12:25pm May 26, 2014 12:25pm
Quoting Dadas
{quote} And one more thing: If you expect to learn to trade in a few days or weeks, forget it! Call me in minimum 3 years time from now.
look on this, correct or no?
Attached Image (click to enlarge)
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  • #3,650
  • May 26, 2014 12:51pm May 26, 2014 12:51pm
Quoting safrash
{quote} look on this, correct or no? {image}
What kind of stupid question is this???
Am I GOD to know if it is correct or not???
The market will show you.

What is the strategy???
I don't know a single thing about what you are trading.
Do you know?

If price is in a consolidation, which it is, what's your tarrget? 1Pip???
Do you even know what's happening on the market today?
Attached Image (click to enlarge)
Click to Enlarge Name: attachment.php(2).png Size: 106 KB


I repeat: study the whole thread, from the very begining!
Practise, practise, practise.
Come back in 3 years time, minimum!
Trade the facts, not opinions.
  • #3,651
  • May 26, 2014 12:59pm May 26, 2014 12:59pm
If anyone wanted to trade today, they should've done it in the morning.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpym15.png Size: 26 KB

A Long Entry in the area of the darker rectangle could have produced about 20 Pips.
Trade the facts, not opinions.
  • #3,652
  • May 26, 2014 1:10pm May 26, 2014 1:10pm
Quoting Dadas
Look at this: I drew these PTECZ yesterday or the day before. {image} Either trust what you see, or do not. The choice is Yours. {image} {image} {image}
Dadas,
all tour charts not visible, how study?
  • #3,653
  • May 26, 2014 5:48pm May 26, 2014 5:48pm
Quoting Dadas
{quote} Come back in 3 years time, minimum!
What do you think about this trade my friend Am I good student or no?
Attached Image (click to enlarge)
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  • #3,654
  • Edited May 27, 2014 12:08pm May 26, 2014 10:32pm | Edited May 27, 2014 12:08pm
Quoting safrash
{quote} What do you think about this trade my friend Am I good student or no? {image}
First, you got lucky and nothing more.

Second, you entered Long without any logic whatsoever, because
you entered Long right under the Red Resistance PTECZ, that means you entered Long at the Top.
There are 2 logical options:
1. You enter Long at the Bottom, where Risk is smallest (SL in Pips);
2. You Enter Long on retrace after Break Out from the consolidation.

Third, you don't know when to close, because you are not managing the Risk,
which means that you are not trailing your Stop Loss.

But, otherwise, you Risked, I don't know your initial SL, so I can't say anything.
If your initial SL was in the right place as far as 2%-3% is concerrned, then it's your trading.
Just, don't get excited, there is nothing to get excited about.
The real test comes when you start losing, like 10 Losses in the row...

PS. Looking more closely at your image, I see your Balance.
You're in at 0.1 Lot.
Now, that means there is no way the Risk 2%-3% rule could have been held, here!!!
You are paying $1.60 on commissions and swap, which is already 1.6%.
What are you doing? Gambling???
You are one of the worst students, after all.

PS.
I measured, your Stop Loss had to be around 17-20 Pips, because below the D1 Low.
0.1 Lot = $1 per Pip thus, your risk was about 20% plus.
This is the stupidest way to trade, it is pure gambling.
Trade the facts, not opinions.
  • #3,655
  • May 27, 2014 3:08am May 27, 2014 3:08am
This is the way it works:
1. Last trend with Long BO line and Short BO Line:
Attached Image (click to enlarge)
Click to Enlarge Name: [dax30]h1.png Size: 21 KB

2. Find the SBOC and Enter as Low as you can whatever method you are entering:
Attached Image (click to enlarge)
Click to Enlarge Name: [dax30]m5.png Size: 26 KB

Close whenever you are satisfied or your strategy allows.
Minimize your Risk as soon as possible, but wisely.

As you see, I was taken out on BE levels 3 times.
Twice because I trailed manually.
Once because EA was trailing.
I got 50% of my target because EA trailed.

I have decided to give the EA another option to trail more aggresively.

I never risked more than 3% of my Balance.
Trade the facts, not opinions.
  • #3,656
  • May 27, 2014 4:11am May 27, 2014 4:11am
This one is theoretical, for the sake of learning.

Let's suppose you started trading after the Close of this Candle:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh1.png Size: 27 KB

The trend would have been long, we must agree.
Thus, we would be looking for Long at Bottom:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdm5.png Size: 23 KB

The worst scenario would be Break Even.

If we had got fixed on Long and reentered, we would get Stop Loss.

If anyone still wanted to go Long after the Stop Loss, they need to go back and learn more.
Trade the facts, not opinions.
  • #3,657
  • May 27, 2014 7:01am May 27, 2014 7:01am
Now, the same GBPUSD only starting with D1:
Plotted are 2 CZC only in a different way.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusddaily.png Size: 24 KB

And, this is what we get on M5:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdm5.png Size: 24 KB
Trade the facts, not opinions.
  • #3,658
  • Edited 4:31pm May 27, 2014 2:44pm | Edited 4:31pm
Quoting Dadas
{quote} First, you got lucky and nothing more. Second, you entered Long without any logic whatsoever, because you entered Long right under the Red Resistance PTECZ, that means you entered Long at the Top. There are 2 logical options: 1. You enter Long at the Bottom, where Risk is smallest (SL in Pips); 2. You Enter Long on retrace after Break Out from the consolidation. Third, you don't know when to close, because you are not managing the Risk, which means that you are not trailing your Stop Loss. But, otherwise, you Risked, I don't know your initial...

I know dear all this, have learned and use in practice, this account no deposit bonus and I must profit during 3 days , then bonus returns, but unfortunately results not good, I have 2 days

Good +15 pips by your good methodology

And this breakdown was opposite trend on upper TF
Attached Image (click to enlarge)
Click to Enlarge Name: usd_jpy.png Size: 88 KB
  • #3,659
  • May 27, 2014 3:31pm May 27, 2014 3:31pm
Quoting Dadas
{quote} I repeat: study the whole thread, from the very begining! Practise, practise, practise. Come back in 3 years time, minimum!
What can you advise in watching charts for 20 pairs at the same time not to miss trade on short time frames, is it possible to switch between tabs every minute?
  • #3,660
  • May 27, 2014 3:56pm May 27, 2014 3:56pm
Quoting Dadas
Break Down
Hi Dadas
Attached Image (click to enlarge)
Click to Enlarge Name: Caustom_Zone_Candle_Index.png Size: 116 KB
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