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Trader Dale - daily trading levels

  • #981
  • Nov 2, 2016 3:54am Nov 2, 2016 3:54am
aud/usd swing short +44 pips.
Iam so glad we managed to cover the loss from the eur/usd swing that ended in SL in such a short time
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 115 KB
  • #982
  • Nov 2, 2016 4:07am Nov 2, 2016 4:07am
Quoting Trader-Dale
{quote} Thats right buddy. And no trading after FOMC.
Thats THE KEY POINT TO REMEMBER TODAY...................!!!
  • #983
  • Nov 2, 2016 4:08am Nov 2, 2016 4:08am
Quoting Trader-Dale
aud/usd swing short +44 pips. Iam so glad we managed to cover the loss from the eur/usd swing that ended in SL in such a short time {image}

Hi Dale

yeah...!!!! AUDUSD trade saved us...
EU is CRAZY pair these days ..............
DUE TO ELECTION and RELATED NEWS ......!!!

thxxx...........
imdi
  • #984
  • Nov 2, 2016 4:10am Nov 2, 2016 4:10am
Quoting imdisaait
{quote} Hi Dale yeah...!!!! AUDUSD trade saved us... EU is CRAZY DUE TO ELECTION and RELATED NEWS ......!!! thxxx........... imdi
It is crazy. Iam looking at eur/usd (6E) volumes using orderflow and it is absolutely brutal. Both yesterday and today.
  • #985
  • Nov 2, 2016 4:11am Nov 2, 2016 4:11am
Hi
can some one help please

I am following Dale's table from this morning (https://s14.postimg.org/lpivjge8x/image.jpg)
this is what I have done regarding the usd/jpy (short_1):
https://postimg.org/image/ruqjvifeb/
https://postimg.org/image/7bvnqg1gz/

++++++++++++++++++++++++++++++++++++++

I also get similar errors with the aud/ usd (short_1):
https://postimg.org/image/ycyut0ign/
https://postimg.org/image/kxgfhazcn/

are these errors valid or am I filling up the orders completely wrong here.
Please some help needed.
  • #986
  • Nov 2, 2016 4:32am Nov 2, 2016 4:32am
Quoting radaway
Hi can some one help please I am following Dale's table from this morning (https://s14.postimg.org/lpivjge8x/image.jpg) this is what I have done regarding the usd/jpy (short_1): https://postimg.org/image/ruqjvifeb/ https://postimg.org/image/7bvnqg1gz/ ++++++++++++++++++++++++++++++++++++++ I also get similar errors with the aud/ usd (short_1): https://postimg.org/image/ycyut0ign/ https://postimg.org/image/kxgfhazcn/ are these errors valid or am I filling up the orders completely wrong here....
You are trying to place sell Limit orders but your Stop losses are lower than your entry price. Stop Losses for sell trades must obviously be higher than the entry.
And vice versa for your targets
Everything will be okay in the end. If it's not okay, it's not the end.
  • #987
  • Nov 2, 2016 4:40am Nov 2, 2016 4:40am
Quoting radaway
Hi can some one help please I am following Dale's table from this morning (https://s14.postimg.org/lpivjge8x/image.jpg) this is what I have done regarding the usd/jpy (short_1): https://postimg.org/image/ruqjvifeb/ https://postimg.org/image/7bvnqg1gz/ ++++++++++++++++++++++++++++++++++++++ I also get similar errors with the aud/ usd (short_1): https://postimg.org/image/ycyut0ign/ https://postimg.org/image/kxgfhazcn/ are these errors valid or am I filling up the orders completely wrong here....
I'm a bit worried by some of the other stuff in the screen shots - but, if you set a limit sell order, your stop must be above the point you are selling from and your PT below the point you are selling from. I'm not familiar with placing trades on MT4, but that seems to be the issue.

I would say that if you are trading live then you need to get a demo acct and practice just using the trading platform, find out how it all works - you cannot trade if you are not familiar with your trading tools.

You hopefully have read enough of this thread to see that Dale does not set limit orders, he trades with market orders once price reaches the levels.

Cheers Ziggy
  • #988
  • Nov 2, 2016 4:45am Nov 2, 2016 4:45am
Quoting Js3mwtRc
{quote} I am still in this position and now it is running with -60 pips draw-down. The price reached 15 pips from the stop loss. I guess your broker is giving different quotes from mine. I will hold it and after FOMC to see what will happen. Great results on your trades, well done.
Not a chance! -80 too Sellers left the city, because of FOMC I think... the most.
Looking for profitable short term trades ...|
  • #989
  • Nov 2, 2016 5:05am Nov 2, 2016 5:05am
message to Radaway, and possibly others. I noticed from your screen shot on AU that the spread is 1.8 pips, that is massive for this pair, my spread is 0.8 and I get a 16% rebate of my dealing costs at the end of the month. The 2 things that are important when picking a broker (apart from the obvious of making sure they are a reputable broker), 1. Execution - you have to get an instant execution and without slippage 2. Spread costs, check around on the instruments you want to trade, in this example it's costing you over 100% more on your AU trades than it needs to, that also has other ramifications, you will get stopped out sooner, or it'll cost you more when you are stopped out, and price needs to go further in order to get your PT. For swing trades it is less important as 1 pip extra in 50-100 is a much lesser problem than 1 extra pip when all you are looking for is 10-12 pips.
  • #990
  • Nov 2, 2016 5:15am Nov 2, 2016 5:15am
I'm no longer interested in the first long level for UJ, it may well be a perfect trade when it gets there, but it looks to me as though it has turned early.

Some thoughts about the FOMC - as Dales noted I wont be trading in the lead up to it, but it has to be a forgone conclusion, they've pretty much done nothing all year and changing that stance on the eve of an election is almost certainly not going to happen, they aren't even having a press conference. What is spooking the markets is the prospect of President Trump, the UJ will tank if that happens and it's becoming a clear prospect if it wasn't already. With this nervousness in the background I'm a little nervous myself about taking any long yen trades.
  • #991
  • Nov 2, 2016 6:06am Nov 2, 2016 6:06am
Still waiting for some scalp off 103.32 level on Uj...maybe 5-10 pips..
  • #992
  • Nov 2, 2016 6:07am Nov 2, 2016 6:07am
my spread atm UJ is 103.432/426 pro ac with "go markets "
  • #993
  • Nov 2, 2016 6:10am Nov 2, 2016 6:10am
[quote=TheBiafran;9231406]Still waiting for some scalp off 103.32 level on Uj...maybe 5-10 pips..[/quote
I think 103.39 is correct .
  • #994
  • Nov 2, 2016 6:28am Nov 2, 2016 6:28am
AUDUSD is at the 7654 level now.
Know your edge and trade within it
  • #995
  • Nov 2, 2016 6:42am Nov 2, 2016 6:42am
Quoting ziggy
I'm no longer interested in the first long level for UJ, it may well be a perfect trade when it gets there, but it looks to me as though it has turned early. Some thoughts about the FOMC - as Dales noted I wont be trading in the lead up to it, but it has to be a forgone conclusion, they've pretty much done nothing all year and changing that stance on the eve of an election is almost certainly not going to happen, they aren't even having a press conference. What is spooking the markets is the prospect of President Trump, the UJ will tank if that...
Are you expecting the Yen to go up?
  • #996
  • Nov 2, 2016 6:44am Nov 2, 2016 6:44am
Quoting fxtrader29ca
AUDUSD is at the 7654 level now.
Do you think this one is a high probability set up after what happened just before the level was reached? Got to within 1.5 pips of the level on my chart and then retraced 10, good enough reason to let this one pass together with the Yen trade - they might both be good but the probability is much reduced.
  • #997
  • Nov 2, 2016 6:45am Nov 2, 2016 6:45am
Quoting shimmering
{quote}Are you expecting the Yen to go up?
nope - if Trump gets in I expect the yen to drop like a heavy rock, sorry - I expect the UJ to drop like a rock, Trump is on record saying the Yen exporters have an unfair currency advantage
  • #998
  • Nov 2, 2016 6:46am Nov 2, 2016 6:46am
[quote=rabitt1965;9231413]
Quoting TheBiafran
Still waiting for some scalp off 103.32 level on Uj...maybe 5-10 pips..[/quote I think 103.39 is correct .
Yea I know, is just a level am looking at to trade,only wanted to share,but will not be trading it 15mins to next red news.
  • #999
  • Nov 2, 2016 6:52am Nov 2, 2016 6:52am
Quoting ziggy
{quote} Do you think this one is a high probability set up after what happened just before the level was reached? Got to within 1.5 pips of the level on my chart and then retraced 10, good enough reason to let this one pass together with the Yen trade - they might both be good but the probability is much reduced.

Totally agree. People need to read Dale's posts about pullbacks and understand instead of just trading blindly.
Never argue with a fool; onlookers may not be able to tell the difference.
  • #1,000
  • Nov 2, 2016 7:24am Nov 2, 2016 7:24am
those levels coincide basically with" hh_ll " indicator on mt4 obtained from another site forget which 1 tho ... SP PS not quite as accurate as Trader Dales tho
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