Congrats DADAS. Wish every1 a million pips:-D
Price Action in Day Trading by Dadas
- #3,962
- Aug 12, 2014 8:25am Aug 12, 2014 8:25am
- | Commercial User | Joined Sep 2012 | 3,282 Posts
{quote} Congratulations dear Dadas! I was also happy to be involved since 18.03.2013 in this result! I wish you and all of us the same amount of pips!ioms
Trade the facts, not opinions.
- #3,965
- Edited 11:59am Aug 12, 2014 11:48am | Edited 11:59am
- | Commercial User | Joined Sep 2012 | 3,282 Posts
Trade the facts, not opinions.
- #3,967
- Aug 12, 2014 12:33pm Aug 12, 2014 12:33pm
- | Commercial User | Joined Sep 2012 | 3,282 Posts
Trade the facts, not opinions.
- #3,969
- Aug 12, 2014 1:41pm Aug 12, 2014 1:41pm
- | Commercial User | Joined Sep 2012 | 3,282 Posts
Trade the facts, not opinions.
- #3,970
- Edited 2:11pm Aug 12, 2014 1:50pm | Edited 2:11pm
- | Commercial User | Joined Sep 2012 | 3,282 Posts
Trade the facts, not opinions.
- #3,971
- Aug 13, 2014 10:50am Aug 13, 2014 10:50am
- | Commercial User | Joined Sep 2012 | 3,282 Posts
![Click to Enlarge
Name: [DAX30]H1.png
Size: 38 KB](/attachment/image/1489180/thumbnail?d=1407952181)
![Click to Enlarge
Name: [DAX30]M5.png
Size: 39 KB](/attachment/image/1489181/thumbnail?d=1407952201)
Trade the facts, not opinions.
- #3,973
- Aug 13, 2014 12:47pm Aug 13, 2014 12:47pm
- | Commercial User | Joined Sep 2012 | 3,282 Posts
{quote} Great results Dadas, I'm still far from such... My system is based on your methodology and now it looks so. I'm focused on testing options for optimization that would bringing in trading greater percentage of positive transactions. ioms ps: I will be glad to any of your comments, especially about how to right trading {image}
The 2 other important things of your strategy must be:
1. When to Enter & when to Exit;
2. When not to trade.
You can easily lose all your profit trying to trade when you shouldn't.
Then, the cliché: "Trend is your friend."
Some type of trend indicator will help you not to trade in the opposite direction.
Recently, thanks to great support from Hercs, I have tweaked 2 indicators into one,
and created the 3-color bar of dots to filter out the direction.
The indicators are: XO.mq4 & QQE.mq4
Also, I use another QQE indicator, a more complex one, to see the signals of potential trend.
I have just figured out how to combine them into a more clear readout:
I calculate the average value from the subwindow and plot the bar at that value.
Thus, I get the signals, also as the magenta "S" & "B" letters on my chart.
Now, using the basic PA and PTECZ, and SBOC, and TrendEnvelopes_v5.mq4 (36) for trend SR,
using a simple script I check out my Entry Level:
![Click to Enlarge
Name: [DAX30]M5_5Lines.png
Size: 39 KB](/attachment/image/1489259/thumbnail?d=1407958552)
The Blue Line is the perfect Entry Price, here Long.
The Dark Green Line is the Stop Loss Price.
My Entry from today shows that I wasn't able to Enter perfectly.
But, I also put my SL at the Pink Line.
![Click to Enlarge
Name: [DAX30]M5.png
Size: 39 KB](/attachment/image/1489260/thumbnail?d=1407958748)
So, that's for the Entry.
Now, I want to know the target potential.
There are numerous methods for that but, you know I use my Dadas_Secret_Weapon_Script.mq4.
You can use the Fibo tool, just as well.
I placed my TP at that price level because of this:
![Click to Enlarge
Name: [DAX30]M5_DSWS.png
Size: 40 KB](/attachment/image/1489263/thumbnail?d=1407958954)
OK, not all the signals were perfect at that moment, but I knew that was a good place with small risk.
The R/R there was 1/3.7 - which is very good by my standards.
As you will notice, there was another setup for a Long Entry, where all the signals were perfect (the Candle with "B").
![Click to Enlarge
Name: [DAX30]M5_DSWS_2.png
Size: 40 KB](/attachment/image/1489266/thumbnail?d=1407959186)
So, you've got to put together a few "blocks" to fit nicely together, to create a good strategy.
Trade the facts, not opinions.
- #3,975
- Aug 13, 2014 2:21pm Aug 13, 2014 2:21pm
- | Commercial User | Joined Sep 2012 | 3,282 Posts
Trade the facts, not opinions.
- #3,976
- Aug 14, 2014 12:56pm Aug 14, 2014 12:56pm
- | Commercial User | Joined Sep 2012 | 3,282 Posts
Of course, I think we shouldn't stop in our effort to find even better solutions.
IOW, there are ideas in our heads which are waiting to surface.
People don't do something not because they are stupid but,
simply because they didn't think about it at the given moment.
And, in order for the ideas to surface, one must give them a pathway.
Thus, today, I have thought of an even more clever way to get signals.
I have excluded the XO.mq4 from the system, and included the TrendEnvelopes_v5.mq4
into my signals bar overlayed on the QQE indicator.
What's the idea behind it?
The QQE indicator gives very early trend signals.
Knowing this fact, I must only watch PA, PTECZ & SBOC to find a precise Entry.
IOW, I must wait for the right moment, because jumping in too early always costs me,
as you will see on today's chart of my trades attached below.
I made 3 trades.
The first two were lost because they were actually bad Entries.
![Click to Enlarge
Name: [DAX30]M5_trades.png
Size: 35 KB](/attachment/image/1490147/thumbnail?d=1408045029)
However, I didn't have the new readings on my signal bar at that time.
I had too many uncertain signals, meaning the yellow dots as in the previous post.
So, I started my idea bank, letting ideas pour out from my mind.
I thought first, that the TrendEnvelopes plotted on the chart introduced too big a bias.
They limited me from going long, when there was actually a long.
They biased me on going short, thus that lost short trade.
I started thinking and figured out that what I needed was a fast trend signal, and
a slower trend signal to show me if to hold the position or close it.
So, I incorporated those two signals into the signal bar by colors.
Wnen the 2 QQE lines cross in a direction while being on the right side of the signal bar,
I get the fast signal.
When there are no fast signal conditions, I get the TrendEnvelopes signals.
The fast signal means:
"Watch PA, look for S/R levels for the given direction, look for Entry and potential targets."
While in a trade, the slow signal means:
"Watch PA around potential S/R levels and watch to which color the signal changes when price stops."
For example:
When in a short positon, at some moment the Red signals will change.
If they change to the Violet color, it means the trend is still strong, so Price is likely to continue in the direction.
If they change to the OliveDrab color, it means Price is still in a larger Bullish Trend, so I should rather look for closing the position.
That's exactly how I got into the last trade, the winning short.
That's exactly how I got out of that trade.
IOW, there are ideas in our heads which are waiting to surface.
People don't do something not because they are stupid but,
simply because they didn't think about it at the given moment.
And, in order for the ideas to surface, one must give them a pathway.
Thus, today, I have thought of an even more clever way to get signals.
I have excluded the XO.mq4 from the system, and included the TrendEnvelopes_v5.mq4
into my signals bar overlayed on the QQE indicator.
What's the idea behind it?
The QQE indicator gives very early trend signals.
Knowing this fact, I must only watch PA, PTECZ & SBOC to find a precise Entry.
IOW, I must wait for the right moment, because jumping in too early always costs me,
as you will see on today's chart of my trades attached below.
I made 3 trades.
The first two were lost because they were actually bad Entries.
However, I didn't have the new readings on my signal bar at that time.
I had too many uncertain signals, meaning the yellow dots as in the previous post.
So, I started my idea bank, letting ideas pour out from my mind.
I thought first, that the TrendEnvelopes plotted on the chart introduced too big a bias.
They limited me from going long, when there was actually a long.
They biased me on going short, thus that lost short trade.
I started thinking and figured out that what I needed was a fast trend signal, and
a slower trend signal to show me if to hold the position or close it.
So, I incorporated those two signals into the signal bar by colors.
Wnen the 2 QQE lines cross in a direction while being on the right side of the signal bar,
I get the fast signal.
When there are no fast signal conditions, I get the TrendEnvelopes signals.
The fast signal means:
"Watch PA, look for S/R levels for the given direction, look for Entry and potential targets."
While in a trade, the slow signal means:
"Watch PA around potential S/R levels and watch to which color the signal changes when price stops."
For example:
When in a short positon, at some moment the Red signals will change.
If they change to the Violet color, it means the trend is still strong, so Price is likely to continue in the direction.
If they change to the OliveDrab color, it means Price is still in a larger Bullish Trend, so I should rather look for closing the position.
That's exactly how I got into the last trade, the winning short.
That's exactly how I got out of that trade.
Trade the facts, not opinions.
- #3,978
- Aug 14, 2014 2:45pm Aug 14, 2014 2:45pm
- | Commercial User | Joined Sep 2012 | 3,282 Posts
{quote} Today I followed your's "You must rest on some strict assumptions", I put a pending order, then shut down the PC, in the evening turned it on and saw +373 pip... Thank you Dadas, ioms {image}
Trade the facts, not opinions.
- #3,979
- Aug 21, 2014 12:40am Aug 21, 2014 12:40am
good morning Mr.Dadas
After I learn what you advise to me yesterday I want to share What I see for EU today
At picture above I see EU Weekly in support area
and Daily I see price make Bull at weekly area
in 4hour one candle bull formed
In 30M I see PTECZ ,,n and there I look potensial area long
According MR dadas what I see was suitble with your metode,,and I want you check What I do
tank U Saquel
After I learn what you advise to me yesterday I want to share What I see for EU today
At picture above I see EU Weekly in support area
and Daily I see price make Bull at weekly area
in 4hour one candle bull formed
In 30M I see PTECZ ,,n and there I look potensial area long
According MR dadas what I see was suitble with your metode,,and I want you check What I do
tank U Saquel
- #3,980
- Aug 21, 2014 11:51am Aug 21, 2014 11:51am
- | Commercial User | Joined Sep 2012 | 3,282 Posts
Trade the facts, not opinions.