Price Action in Day Trading by Dadas | Page 187 | Forex Factory

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Price Action in Day Trading by Dadas

  • #3,721
  • Jun 3, 2014 4:24am Jun 3, 2014 4:24am
Quoting SunnyFx2002
Here are a few notes I made. {image}
I couldn't have done it better, myself!
And, you will never forget this!

Next time someone asks for the images from Post#5, drop them your image!
Trade the facts, not opinions.
  • #3,722
  • Jun 3, 2014 4:33am Jun 3, 2014 4:33am
Quoting safrash
Hello Dadas What can you say about Economic Calendar, I watched not good enter befour news?
Especially the first Thursday and Friday of every month when important data from US comes.
Price gets very wild at these times. High Frequency Traders.
Every newbie should avoid trading at those times.

Every trader who has been trading for 20 years,
but has very little idea about what they are really doing,
should avoid trading at those times.
Many traders simply use that as a rule, like: "Never trade on Fridays".
Or others never trade around news hours.

I can see by Price Action that there is some news ahead.
That's when I check the calendar to see what's going on.
Sometimes there is a holiday that we didn't know about
and there is no sense in trading that day, at all.

However, on the other hand, when price can make you 100 Pips plus
in a matter of seconds or minutes, it is nice to have an NFP Trading Strategy around.
Trade the facts, not opinions.
  • #3,723
  • Jun 3, 2014 5:19am Jun 3, 2014 5:19am
Question regarding how to draw PTECZ.

Attached Image (click to enlarge)
Click to Enlarge Name: PTECZ.png Size: 109 KB
Healthy, Wealthy & Steady!!
  • #3,724
  • Jun 3, 2014 5:47am Jun 3, 2014 5:47am
Quoting SunnyFx2002
Question regarding how to draw PTECZ. {image}
Attached Image (click to enlarge)
Click to Enlarge Name: attachment.php.png Size: 94 KB

I will never understand why people can't tell PTECZ from Break Out/Down Candle.
When a Candle Breaks the Open level of the preceeding Candle significantly,
that is a Trend Candle, a Break Candle.
How complicated is that?

Anyway, you can plot your Zone as you wish, just be aware what is what.
Trade the facts, not opinions.
  • #3,725
  • Jun 3, 2014 9:30am Jun 3, 2014 9:30am
I'm gonna show you something:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusddaily.png Size: 30 KB

Just cut the head off.
The more you have to cut off, the worst for the patient.
At first you are just cutting off the hair.
Then, the head.
Later, it becomes more and more serious.

This is all there is to trading.
The further into a trend, the bigger the Stop Loss becomes.

All you must do is Manage it correctly!
Trade the facts, not opinions.
  • #3,726
  • Jun 3, 2014 9:52am Jun 3, 2014 9:52am
Hello, Dadas
My Question in chart, how possible not loss trading candles including PTECZ befour BreakOut?
Attached Image (click to enlarge)
Click to Enlarge Name: loss_trend.png Size: 116 KB
  • #3,727
  • Jun 3, 2014 10:27am Jun 3, 2014 10:27am
Quoting safrash
Hello, Dadas My Question in chart, how possible not loss trading candles including PTECZ befour BreakOut? {image}
Safrash, first of all, you can not win them all, that's impossible!
Anybody who has a 50% - 60% win ratio is very, very good.
We need the Money&Risk Management because of this fact.
It is the Risk/Reward element which gives us our Profits.

You must always take into consideration that the trend might continue further.

If I had taken a Short Trade at the Top, I would be risking 5-9 Pips.
If I lose, I lose. I watch PA and continue to trade.
5-9 Pips is still in the my 1% Risk zone, because I use the relevant Lot size.
If I must Risk more, I don't trade. This is my rule, now.

That's all there is to it.
Trade the facts, not opinions.
  • #3,728
  • Jun 3, 2014 11:37am Jun 3, 2014 11:37am
Quoting safrash
Hello, Dadas My Question in chart, how possible not loss trading candles including PTECZ befour BreakOut? {image}
One more thing, Safrash.
How can you say that a Candle is Break Out when the Candle isn't closed, yet???
I am looking at my chart and trying to find your BO Candle, but it isn't there!!!
There are only Candle Shadows.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpyh1.png Size: 23 KB

Now, looking again, my way and thinking of going with the trend,
why should I be looking for a Short, there?
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpyh1_1.png Size: 27 KB

Get 15 Pips and risk 9 Pips???
Sorry, but I have grown out of these stupid games!

Actually, to be precise, this is my current way of looking at charts:
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpyh1_2.png Size: 26 KB
Trade the facts, not opinions.
  • #3,729
  • Jun 3, 2014 3:26pm Jun 3, 2014 3:26pm
Quoting Dadas
You know what, Guys? This is why I encourage you to exchange thoughts and ideas, here! zarach has invented a totaly new PTECZ Trading strategy! He turned it around! Instead of Break Out, he invented the Break In strategy! I will show you: EURJPY H4 Let's say we see a strong Bullish Trend, like today: {image} We find a historical PTECZ that is 50+ Pips wide. I found one that is 106 Pips wide. Switch to M5: {image} When Price Breaks In with the H1 Break In Candle, Enter on that Candle Close. Follow PA until upper PTECZ border - Resistance. Exit where...
And what happen if price reverse in PTECZ? Not absolutely that it reaches the upper border, and case on chart UP Trend, what happen if we have Down Trend
  • #3,730
  • Jun 3, 2014 6:26pm Jun 3, 2014 6:26pm
Quoting Dadas
IMPORTANT The new members who have only started to post and have just a few posts, please remember that your posts appear delayed in time, because the moderators check them first. This thread moves fast, and your posts are on the previous page. Or even two pages back. I may not be able to read them and then, I will not comment. If you want me to comment on your post, please send me a PM, so that I do not miss your new post!

  1. Dadas's membership status restricts the use of Private Messages.

    ?????

  • #3,731
  • Jun 3, 2014 6:33pm Jun 3, 2014 6:33pm
Quoting Dadas
Now, let's upgrade ourselves a level higher. Let's use the full juice! GBPJPY MN with Yearly Zone Candle: {image} Green and Crimson are the MN PTECZs
What is number PTECZ on MN chart? last candle or other?
  • #3,732
  • Jun 3, 2014 7:26pm Jun 3, 2014 7:26pm
Quoting Dadas
{quote} {image} {image}
Why you choice these indexes
TF=1440 Index=270
TF=14340 Index=11
TF=1440 Index=2

random numbers or is there a certain order?
  • #3,733
  • Edited Jun 4, 2014 1:41am Jun 3, 2014 8:17pm | Edited Jun 4, 2014 1:41am
Quoting Dadas
OK, I will show you why it is important to know all the levels from MN! Remember what I posted about Understanding the Chart? Remember what I posted about the workings of the Candlestick? This applies to every Candlestick! So, I was plotting PTECZs, on the W1 EURJPY: {image} Nothing new, the old, usual way! Historical PTECZs. I switched to MN just to check: {image} And, enlightning struck, again! Damn, it is so obvious, it is the end of the month! Since there is some important Resistance at the top, the MN Candlestick is in formation! The Wick or...
Your plotted PTECZ on W1 Index=5, what is index of PTECZ in MN chart? 1443 post and after
  • #3,734
  • Jun 3, 2014 9:27pm Jun 3, 2014 9:27pm
Quoting Dadas
So, the question: "There are so many PTECZ's. How do we know which on is the important PTECZ?" So, the answer: "The PTECZ which corresponds with High Volume of Contracts."
And what PTECZ corresponds with High Volume of Contracts? Wide CanDle?
  • #3,735
  • Jun 4, 2014 12:20am Jun 4, 2014 12:20am
Quoting safrash
{quote} And what happen if price reverse in PTECZ? Not absolutely that it reaches the upper border, and case on chart UP Trend, what happen if we have Down Trend
Ask Zarach, it's his strategy!

Ah, the "What if?" problem!
Trade the facts, not opinions.
  • #3,736
  • Jun 4, 2014 12:21am Jun 4, 2014 12:21am
Quoting safrash
{quote} Dadas's membership status restricts the use of Private Messages. ?????
Yes, at one point FF made me commercial member.
Trade the facts, not opinions.
  • #3,737
  • Edited 12:45am Jun 4, 2014 12:28am | Edited 12:45am
Quoting safrash
{quote} Why you choice these indexes TF=1440 Index=270 TF=1440 Index=11 TF=1440 Index=2 random numbers or is there a certain order?
Candles are indexed from 0 = current candle, 1 = first closed candle, and so on.
So, when a new candle closes, the index changes by 1.
Those were the index numbers at the time I was doing that analysis.

Timefames are defined by minutes:
M1=1, M5=5, M15=15, M30=30, H1=60; H4=240, D1=1440, W1=10080, MN=43200
That's the MQL4 code.

14340 is a typo mistake! It should be 1440.
Trade the facts, not opinions.
  • #3,738
  • Jun 4, 2014 12:36am Jun 4, 2014 12:36am
Quoting safrash
{quote} Your plotted PTECZ on W1 Index=5, what is index of PTECZ in MN chart?
Safrash, you are quoting a post dated:

  1. Apr 27, 2013 17:39

How the F_U_K am I supposed to know that more than a year later?
If it doesn't say it in the post, sorry mate, you are late.

W1 Index=5 was Index=5 on Apr 27, 2013.

Today is Jun 4, 2014 !

Trade the facts, not opinions.
  • #3,739
  • Jun 4, 2014 12:42am Jun 4, 2014 12:42am
Quoting safrash
{quote} And what PTECZ corresponds with High Volume of Contracts? Wide CanDle?
MT4 does not plot Candles of different width.
MT4 does not have any voloume of contracts data.
This is OTC (Over The Counter) Market.
It does not have a Central Exchange.
The volume data in MT4 is ticks volume.

Some companies offer volume indicators with data from the Futures Market.
Data of contract volumes is available for free from CME.

However, I am over studying volume, because it doesn't add anything to my method.
Trade the facts, not opinions.
  • #3,740
  • Jun 4, 2014 1:18am Jun 4, 2014 1:18am
Quoting Dadas
{quote} Candles are indexed from 0 = current candle, 1 = first closed candle, and so on. So, when a new candle closes, the index changes by 1. Those were the index numbers at the time I was doing that analysis. Timefames are defined by minutes: M1=1, M5=5, M15=15, M30=30, H1=60; H4=240, D1=1440, W1=10080, MN=43200 That's the MQL4 code. 14340 is a typo mistake! It should be 1440.

I am not about it, I know this, on the chart plotted PTECZ on the specific candle, I mean WN chart, what mean historical PTECZ?
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