Price Action in Day Trading by Dadas | Page 189 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Price Will Tell - Supply/Demand Price Action Trading 1,858 replies

The Price is Right: Trading Price Action 219 replies

Price action at the core / tma intra day 5,016 replies

2 day price action 8 replies

Attachments: Price Action in Day Trading by Dadas
Exit Attachments

Price Action in Day Trading by Dadas

  • #3,761
  • Jun 4, 2014 3:02pm Jun 4, 2014 3:02pm
Quoting safrash
{quote} Yes, you right I have placed SL after second bearish candle go to PTECSZ. Yesterday on EURUSD quickly move against me. GPBCHF lossed But what can mistake in USDJPY? My Enter was correct, I think
Attached Image (click to enlarge)
Click to Enlarge Name: attachment.php.png Size: 124 KB

What you think or what I think has no meaning in trading.
Price will do what it will do.
Anyway, I don't think it is a good idea to enter long just below a PTECZ.
Where you Entered Long, I usually place my Take Profit.
Trade the facts, not opinions.
  • #3,762
  • Jun 4, 2014 3:17pm Jun 4, 2014 3:17pm
If I had opened a Long down in that PTECZ, on retest,
I would place my Take Profit where the white line is,
under the historical H4 PTECZ. That's all.
Now, I would not trade Long, but watch for a possible Short.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpyh1.png Size: 27 KB
Trade the facts, not opinions.
  • #3,763
  • Jun 4, 2014 3:26pm Jun 4, 2014 3:26pm
Quoting Dadas
If I had opened a Long down in that PTECZ, on retest, I would place my Take Profit where the white line is, under the historical H4 PTECZ. That's all. Now, I would not trade Long, but watch for a possible Short. {image}

Yes I have corrected my chart by method stevepatt and watching better, my Enter Long EUR/JPY was wrong, price in PTECZ. Waiting BreakUp from this Zone and target H4 Bearsih PTECZ, TP correct
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy-h1-PTECZ-colour.png Size: 113 KB
  • #3,764
  • Jun 4, 2014 3:39pm Jun 4, 2014 3:39pm
Dear Dadas
Thank you for your patience with beginners, I begin to understand the essence of this methodology, the main task for me now - correct Enter and MM, I think can handle

Last question today, how you plot that colors on charts, MT4 have no
  • #3,765
  • Jun 4, 2014 3:57pm Jun 4, 2014 3:57pm
Quoting safrash
Dear Dadas Thank you for your patience with beginners, I begin to understand the essence of this methodology, the main task for me now - correct Enter and MM, I think can handle Last question today, how you plot that colors on charts, MT4 have no
MT4 can have anything you can program, yourself.
I have what I can program, myself.
Trade the facts, not opinions.
  • #3,766
  • Jun 4, 2014 6:12pm Jun 4, 2014 6:12pm
Wrong Enter USD/JPY

P.S. Sorry, mistake on chart - green PETCZ H1, want sleep, bye bye
Attached Image (click to enlarge)
Click to Enlarge Name: usd_jpy_wrong_enter.png Size: 118 KB
  • #3,767
  • Edited 11:05pm Jun 4, 2014 10:43pm | Edited 11:05pm
Quoting safrash
Wrong Enter USD/JPY P.S. Sorry, mistake on chart - green PETCZ H1, want sleep, bye bye {image}
This Entry is not wrong, it's ok, though late.
Another thing, where did you get this Entry from???
You must have Entered that one on one of the Candles after the Long Trend.
Theoretically, it's not at the bottom of the Pink PTECZ Zone, but SL
should be just below that Zone, and if that SL distance <=3%, it's ok.

Where you write that "Long Entry must be here" is the ideal!
If you can be that good, and not get frustrated over many SL's, then
you will get rich quickly.

But, the point is that you will never know if that is the right moment in reality,
because you don't see the future Price Action.
So, in reality you get a lot of SL's when Price is consolidating, not swinging.
Yes, when the trend catches on, you can make up the losses and profit,
but in reality your account will swing like the charts, up & down.
It will be a tough struggle with the market.

That's why I was always saying that we should wait for confirmation of trend,
and Enter on retest of the consolidation area.
We don't need to take every potential opportunity.
Just the ones that we take, will be enough.

And, why are you specifically "Waiting BreakUp"???
Price can always do 3 things.
You shouldn't be waiting for anything specific.
You should be observing PA to see where Price is trending.

Most obviously, the Price is trending Down.
It is going for retest of PTECZ Low, or further to the next Low, or further...
Attached Image (click to enlarge)
Click to Enlarge Name: attachment.php(2).png Size: 118 KB

But, we don't know that! We don't expect anything! We trade the Trend!

Trend+Risk+Management=Profit
Trade the facts, not opinions.
  • #3,768
  • Jun 5, 2014 2:57am Jun 5, 2014 2:57am
You see, guys, ultimately it is all about where you put your Stop Loss.
A lot of you who are with me from the start remember what I used to say about
asking the Market to take your Stop Loss, and that's true.

I have, recently, realised that changing the thinking about the Market changes everything.
The trick is to know where to put your Stop Loss.
Or, in other words, where the Market dictates your Stop loss should be.

Just like with everything else in this trading, we don't have any influence on what the Market dictates.
If you figure out for yourself that in order to keep the Risk at 1%, you can only use SL=20 Pips, for example,
then you can't try to Enter just anywhere and hope that the Market doesn't take your Pips.

A simple example:
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpym15.png Size: 26 KB

If you wanted to go Long, you need to place your SL 2-3 times Spread away from the extreme.
So, your Entry Zone is 20 Pips wide from that SL Level.
And, there is no other choice, only this one!
Because the Market dictates this setup!

If you try to work against the Market, the Market is glad to see your Pips coming!
Trade the facts, not opinions.
  • #3,769
  • Jun 5, 2014 5:24am Jun 5, 2014 5:24am
EUR/USD Profit +12 Pips
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-h1-success.png Size: 125 KB
  • #3,770
  • Jun 5, 2014 6:10am Jun 5, 2014 6:10am
Quoting safrash
EUR/USD Profit +12 Pips {image}
Safrash, please use the attached indicator to show your trades on your charts.
When trading, you can set Show_Closed_Trades = false;
When you want to analyse your trades, you set Show_Closed_Trades = true;
Attached File(s)
File Type: mq4 DadasMod_order_tracer.mq4   7 KB | 573 downloads
Trade the facts, not opinions.
  • #3,771
  • Jun 5, 2014 8:19am Jun 5, 2014 8:19am
Quoting Dadas
{quote} Safrash, please use the attached indicator to show your trades on your charts. When trading, you can set Show_Closed_Trades = false; When you want to analyse your trades, you set Show_Closed_Trades = true; {file}
Thank you, great indicator, but after my success trade I did bot Enter Short had you saw pair, many of pips Short
  • #3,772
  • Jun 5, 2014 8:41am Jun 5, 2014 8:41am
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy-h1-fxsalt-not-closed.png Size: 113 KB
  • #3,773
  • Jun 5, 2014 8:48am Jun 5, 2014 8:48am
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy-m5-fxsalt.png Size: 100 KB
  • #3,774
  • Jun 5, 2014 9:01am Jun 5, 2014 9:01am
Quoting safrash
{quote} Thank you, great indicator, but after my success trade I did bot Enter Short had you saw pair, many of pips Short
Your emotion is completely out of place.
There will be such opportunities many, many times.
Except, most of the times you will never take any of these opportunities,
because they are on the news, and are very dangerous to trade.
Until you are very experienced and have a special strategy for the news, forget about it!

About your strong unwillingness to show us your trades, we will never treat you serious
until you show us your trades, so we can help you analyse them.

About your question:
If the Stop Loss is according to your strategy Risk, then you are trading.
You must have your strategy written down in every detail, including when you Enter and when you don't.
Trade the facts, not opinions.
  • #3,775
  • Jun 5, 2014 9:58am Jun 5, 2014 9:58am
Quoting safrash
...but after my success trade I did bot Enter Short
Well, if you are going to trade like that and only get lucky scalping shots,
you will never take the big move, because you can't read the charts, and
you have no idea what is going on in the Market.

Price is in Short Trend bounced off Resistance PTECZ.
Price is still away from the Support PTECZ.
And you go Long??? WTF???

Additionally, you didn't even know it was news day, today.

How do you expect to take a big move like that, if you don't know how to hunt for it?

You didn't do too many correct things, only SL, if it was there at all.
If you didn't use SL, you did nothing right.
You risked almost all your Balance.
Trade the facts, not opinions.
  • #3,776
  • Jun 5, 2014 10:54am Jun 5, 2014 10:54am
Quoting Dadas
{quote} Your emotion is completely out of place. There will be such opportunities many, many times. Except, most of the times you will never take any of these opportunities, because they are on the news, and are very dangerous to trade. Until you are very experienced and have a special strategy for the news, forget about it! About your strong unwillingness to show us your trades, we will never treat you serious until you show us your trades, so we can help you analyse them. About your question: If the Stop Loss is according to your strategy Risk,...
Why not want show trends, EUR/USD is my trend and you saw
this is another trend loss -18 pips, was wrong enter, you right and was emotional in this moment
Attached Image (click to enlarge)
Click to Enlarge Name: usd_jpy_lossed_trend.png Size: 111 KB
  • #3,777
  • Jun 5, 2014 11:08am Jun 5, 2014 11:08am
Quoting Dadas
{quote} Price is in Short Trend bounced off Resistance PTECZ. Price is still away from the Support PTECZ. And you go Long??? WTF???
Yes I watched this and I decided enter on reverse, and I don,t like trend opposite trend
  • #3,778
  • Jun 5, 2014 11:14am Jun 5, 2014 11:14am
Quoting safrash
{quote} Why not want show trends, EUR/USD is my trend and you saw this is another trend loss -18 pips, was wrong enter, you right and was emotional in this moment {image}
Attached Image (click to enlarge)
Click to Enlarge Name: attachment.php.png Size: 126 KB

You went Long exactly where the perfect Short was.
Trade the facts, not opinions.
  • #3,779
  • Jun 5, 2014 11:19am Jun 5, 2014 11:19am
I really don't know much about trading, but I think this is a good trade:
Attached Image (click to enlarge)
Click to Enlarge Name: [dax30]m5.png Size: 28 KB
Trade the facts, not opinions.
  • #3,780
  • Jun 5, 2014 11:23am Jun 5, 2014 11:23am
Quoting safrash
{quote} Yes I watched this and I decided enter on reverse, and I don,t like trend opposite trend
Hastiness
1 trader viewing now