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Trader Dale - daily trading levels

  • #1,261
  • Nov 25, 2016 1:33am Nov 25, 2016 1:33am
Hi guys! did you trade yesterday's eur/usd level just now? Very precise and quick reaction to my level


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  • #1,262
  • Nov 25, 2016 1:41am Nov 25, 2016 1:41am
Quoting Trader-Dale
Hi guys! did you trade yesterday's eur/usd level just now? Very precise and quick reaction to my level {image}
Great trade, how did you set this up step by step please? I am looking at the Market profile at tradingView and do not see a corresponding rejection or TPO on that level. Thanks again.
  • #1,263
  • Nov 25, 2016 1:57am Nov 25, 2016 1:57am
Intraday levels for 25.11.2016
PT 10 pips, SL 12 pips.
Happy trading
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  • #1,264
  • Nov 25, 2016 2:14am Nov 25, 2016 2:14am
Quoting Djemalo
{quote} Great trade, how did you set this up step by step please? I am looking at the Market profile at tradingView and do not see a corresponding rejection or TPO on that level. Thanks again.
I was based on market profile, price action and orderflow. This level isn't that easy to spot. It is more complicated one.
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  • #1,265
  • Nov 25, 2016 2:15am Nov 25, 2016 2:15am
Quoting Trader-Dale
{quote} I was based on market profile, price action and orderflow. This level isn't that easy to spot. It is more complicated one. {image}
Thank you for the explanation.
  • #1,266
  • Nov 25, 2016 2:17am Nov 25, 2016 2:17am
Quoting richi69
{quote} just find the biggest volume and see the market's reaction there the bigger volume spike, the higher chance for successful trade. R
Thanks, that's it. Best thing to do when starting with market profile!
  • #1,267
  • Nov 25, 2016 2:19am Nov 25, 2016 2:19am
Quoting Trader-Dale
{quote} Thanks, that's it. Best thing to do when starting with market profile!
thank you very much dale
onorebate
  • #1,268
  • Nov 25, 2016 2:20am Nov 25, 2016 2:20am
Quoting pipsandbits
{quote} I checked your levels most of the times, and can recognize them, but I cannot be accurate like you. There is something else than my eyes cannot see. And I wish to learn.
I would say experience and maybe a bit of orderflow But orderflow wont save you. Market profile+proce action is sufficient enough.
  • #1,269
  • Nov 25, 2016 2:29am Nov 25, 2016 2:29am
Quoting Djemalo
{quote} Happy Holidays to you all! First i would like to thank Dale for giving us a different view of looking at Market data. But i think that eventually we expect him to spoon feed us trades when we can learn from him and do it ourselves. Teach a man how to fish and he will eat for life. So i have a couple of questions after reading a lot of pages on this post. Assuming we have futures data feed (which i do with TradingView) : 1.) How do we convert the data from futures to forex, especially the levels we trade at? 2.) How do we use the Market Profile...
1. Easiest way to convert levels from futures to forex is to place 2 charts side by side and just see where on the chart the level is. Tha harder way is to calculate the pip difference between futures and forex. It is different little bit every day. Most when trades start trading with new futures contracts, the least difference is at the expiration date of futures. usd/jpy (6J) and usd/cad (6C) are reversed so it is more problematic there. Pip value isnt the same there.
2. The basics were already mentioned in this thread. The first step would be to watch for the biggest daily volumes and see how the market reacts to them.
3 I determine my levels using multiple methods. Market profile and price action are the key for determining them.
  • #1,270
  • Nov 25, 2016 2:33am Nov 25, 2016 2:33am
Quoting michisuperfr
{quote} We have to thank you for this great thread! Yeah the differences should be small, especially if someone is using the "bigger" brokers with a good data feed and higher timeframes. I was once comparing it and saw little differences here and there with the POC level or value area (Posted a screenshot) but if one keeps it in mind, then it should be fine {image}
EXACTLY!! using big brokers is the key. Very good point is also with the higher timeframes! Thanks for helping mate!
  • #1,271
  • Nov 25, 2016 2:33am Nov 25, 2016 2:33am
Quoting putrimawarfx
{quote} thank you very much dale
you are very welcome
  • #1,272
  • Nov 25, 2016 2:35am Nov 25, 2016 2:35am
Quoting Js3mwtRc
You can interpret market profile's volume as levels that professional money bought, or sold the pair you are watching, but volume only doesn't help to make profit you need more tools to achieve that like, market order flow order books professional traders are using. We can't have that.
I think you can be profitable only with price action and market profile. This should be enough.
  • #1,273
  • Nov 25, 2016 2:36am Nov 25, 2016 2:36am
Quoting Trader-Dale
{quote} 1. Easiest way to convert levels from futures to forex is to place 2 charts side by side and just see where on the chart the level is. Tha harder way is to calculate the pip difference between futures and forex. It is different little bit every day. Most when trades start trading with new futures contracts, the least difference is at the expiration date of futures. usd/jpy (6J) and usd/cad (6C) are reversed so it is more problematic there. Pip value isnt the same there. 2. The basics were already mentioned in this thread. The first step...
Great answers! Hope your holidays were good. One more little detail, using the market profile, do you use it on the futures chart, or the forex chart.
  • #1,274
  • Nov 25, 2016 2:37am Nov 25, 2016 2:37am
Quoting Djemalo
I get what you are saying, but obviously he has found an edge. And he also said that order book is visible using futures data. So if he can so we can we. My questions are pretty specific and the answers should guide us what to look out for when looking at the order flow and market profile. I hope that Dale can help me out here because I am able to see both order flow and market profile using FUTURES. Wouldn't you rather be putting forth input in this forum as he is, or just sitting back waiting for Dale to do all the work? Let's all contribute using...
For usd/jpy futures analyse I use 6J 12-16
  • #1,275
  • Nov 25, 2016 2:46am Nov 25, 2016 2:46am
Quoting DavidRP
{quote} May I ask you, how long have you been trading this way, using futures volume and trading fx ? Your profile says that you traded with automated algos, do you continue using automated robots?
I have been trading using volume about 5+ years, trading forex much more of course I dont do automated algos anymore. I found out it wasnt my cup of tea.
  • #1,276
  • Nov 25, 2016 2:47am Nov 25, 2016 2:47am
Quoting Djemalo
{quote} Great answers! Hope your holidays were good. One more little detail, using the market profile, do you use it on the futures chart, or the forex chart.
futures for intraday trades. forex for swing trades.
  • #1,277
  • Nov 25, 2016 3:06am Nov 25, 2016 3:06am
Quoting Djemalo
I get what you are saying, but obviously he has found an edge. And he also said that order book is visible using futures data. So if he can so we can we. My questions are pretty specific and the answers should guide us what to look out for when looking at the order flow and market profile. I hope that Dale can help me out here because I am able to see both order flow and market profile using FUTURES. Wouldn't you rather be putting forth input in this forum as he is, or just sitting back waiting for Dale to do all the work? Let's all contribute using...
Dale is an expert and he can find very easy levels of professional interesting, but I think the data he is getting is back some hours. I prefer to trade momentum breaks on small time-frames and that is why I look at volume. I believe that a horizontal line - key level break with a big spike in volume is all I need to make a trade. The levels he is using are good for trading reversals and where there is a level of interest I am in. Sometimes I know price has enough momentum to reach a level, so I use the levels he is sharing like a target.
Looking for profitable short term trades ...|
  • #1,278
  • Nov 25, 2016 5:07am Nov 25, 2016 5:07am
Quoting Trader-Dale
Hi guys! did you trade yesterday's eur/usd level just now? Very precise and quick reaction to my level
Great job Dale
  • #1,279
  • Nov 25, 2016 5:25am Nov 25, 2016 5:25am
Good day all,
Can anyone explain how the sensor level indicator is used and what it measures.
Thanks
  • #1,280
  • Nov 25, 2016 6:51am Nov 25, 2016 6:51am
Quoting Trader-Dale
There is US holiday today. Without the main liquidity players it is easier and cheaper to move the market. The markets could move strange or they won't move at all. I won't be trading the US session. It is safer (generally speaking). Enjoy your today's profits form aud/usd and usd/cad I will be doing some backtesting and relaxing
Dale, May I ask you - what risk as a percentage of your balance do you take on your 10 pip trades?
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