Price Action in Day Trading by Dadas

sizabici, I know nothing about which direction the price will go!
I just follow the price, where it is going!
I suggest you do the same, instead of trying to see the future!

And, openinig positions without placing a Stop Loss order is the most stupid thing to do!
It takes the price just miliseconds to move 100 Pips or even more.
Not always, but it happens not only during the most important news.

Your are right Dadas... but can you show me as well were your SL has been set on your last trades. Those are really beautiful trades on DAX30 in did. Really nice but can you tell me as well if you are using Delta Cumulation or Cluster Delta data from where are you getting the data ... I see you trading quite often on M1, M5 which are very small time frames and for this very good data is absolutelly highly required ... Looking forward

And a little desert:

The SL on the first Short, which was lost, you can see (the little red dash).
My SL's are according to DSWS and market peeks/throughs.
But, then I quickly trail them manually, first to BE, then following the candles and price.
I don't care when I get a quick BE, because I prefer to BE, than to SL.

I get the data feed from Cluster Delta, at the present.
I am working on how to transfer the Ninja Trader data to MT4.

Yes, I trade M1 and M5, that depends on the spread factor.
I have spreads >1 Pips on EURUSD, most of the time, that's why I need M5 for EU.
On DAx30 I have spread = 1 Pip, that's why I can trade M1.

I write/program my own tools, so I just use the data provided by Cluster Delta and create.

Thats is great! Are you using a monthly base paymenet to Cluster Delta for data or how are you getting to have access? It is in Russian (not my language), and all I got is to download the ClusterDelata Online.exe but it does not work... Can you point me on the right way on how to get it right? ClusterDelata data seems to be quite accuarate. It will help a lot! Otherwise, if it comes to any good broker with small spreads I may recomand to you IcMarkets, the spreads are small 0.00-1.00 and there is justa a small commisioning per lot size. And just as an example, for EURUSD if you set your volume per trade at 0.02 the commision is 0.14 and the spread depends on the volatility of the market, of course variable, but in any normal condition it is between 0.00-0.30 and you can enter in a trade oftenly with 0.00 spread. It is a broker with good market execution as well. Attached you may find a nice and simple indi for spread, change/rate, distance from high/low, swap long/short... it will help you to see if you are scalping the right moment for variable spreads when to enter and all the rest that is comes with it. Simple ... Regards

You can always translate the site to English.
We pay $4.4 per month, we meaning my friend and I.
He takes care of the monthly payments, so I never really bothered with the procedure.
You need to download the standart package, where you will find the CD_Authorizer.exe
You need to pay the monthly rate in order to be authorized, and only then will the indicators work.

I know ICM very well, my friend is IB for them, and we have a Polish forum.
There are certain advantages, but also many disadvantages for me.
I prefer my broker, even if my spreads are a bit wider on EU.

Thank you for your effort to hand me some indicator, but I already have all the indicators I will ever need.
What I don't have, I can program on my own.

PS. sizabici, ask ICM what will happen in a situation like the famous CHF crash.
You should be smarter and keep away from brokers who are not insured against such situations,
and will ask you to pay all your losses to them, because your SL and SO will mean nothing then.
Where there is no liquidity, your SL and SO will not work.
Your losses will be much, much greater than you thought.

Look for brokers who insure that you will never lose more than your account balance.

BTW:
One of the most important things every trader, and especially every newbie should learn, before
they even think of starting to trade, can actually be found right here, on ForexFactory.com:
http://www.forexfactory.com/showthread.php?t=7484

This article should be an absolute requirement for every trader, who doesn't know this.

There is a picture missing in this article.
Here is the picture:

WELL POINTED DADAS, that is right and absolutelly corecto mondo ""
Thanks for the information refering to ClusterDelta as well, I will look into deeper, for to subscribing...

And now, just a bit of update for EURUSD 14.09 for those who maybe are waiting for the second wave ??...

I really don't think you should be misleading newbies, sizabici.
You really have little knowledge about how the market works.

Ok Dadas, can you please to share the indicator that is represented by ploted blue candles? Regards

Trade of the Day 15.09 .... any comment ?

Yes, one comment:
Please start your own thread and stop spamming my thread.
You can, freely start your own thread and present your method there.
That's one of the purposes of Forex Factory.

I don't think you realise what you are asking for.

Why not enter like this?

Showed levels are calculated in advance, and not intended to predict the prices, but designed as area for orientation in space.
Today, as every day, the price going very nicely... same here...
ioms

Hi Dadas : )

Why not drop DSWS on momentu candle and enter on pivot? ... Similar situation, I mean from the 'mechanical' pointo of view.





Greetz!

Dear Dadas, you have a lot of experience and I would apreciate if you will analize a bit the situation on the attached chart (EURUSD M5) and comment a bit, please. I was not sure and could not decide if to enter a long position on point A; greed arrow... Form your point of view, does it was an opportunity or price action was not really obviouse? Looking forward
Regards

Generally, no problem with this strategy, though one of my friends tried trading only on this assumption,
and his results weren't so good. Maybe because he didn't filter "momentum" candles in any way,
just took every engulfing-type candle and traded. And, the market doesn't always pull back in this way.

Nothing is ever obvious in trading the charts.
You must see-read what the Market is doing and see the potential reverse levels:

Then, you need to know that it is wise to buy cheap and sell expensive!
IOW: Buy at wholesale prices, sell at retail prices.
Thus, if you wanted to buy, you had to know where your Market-place was:

Same way, if you wanted to sell, you needed to know where the Market was: