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Trader Dale - daily trading levels

  • #1,281
  • Nov 25, 2016 5:37am Nov 25, 2016 5:37am
Quoting shimmering
{quote} Dale, May I ask you - what risk as a percentage of your balance do you take on your 10 pip trades?
It is a little bit complicated for me with multiple accounts etc, but I recommend you to risk about 1-2%.
  • #1,282
  • Nov 25, 2016 7:00am Nov 25, 2016 7:00am
Quoting Trader-Dale
Intraday levels for 25.11.2016 PT 10 pips, SL 12 pips. Happy trading {image} {image}
Did you ever think to add NZDUSD on the list?
  • #1,283
  • Nov 25, 2016 7:04am Nov 25, 2016 7:04am
EURUSD short at 1.0621 reached TP! +10 pips, great call.
Thanks Dale!
  • #1,284
  • Nov 25, 2016 7:11am Nov 25, 2016 7:11am
Quoting ruma29
{quote} Did you ever think to add NZDUSD on the list?
I won't do that. I will trade it only for swing trades.
  • #1,285
  • Nov 25, 2016 7:11am Nov 25, 2016 7:11am
Thanks Dale,

I was a little late on the eur/usd entry which worked out well

Could you tell me what futures symbol's you have in your watchlist for tradingview?
  • #1,286
  • Nov 25, 2016 7:13am Nov 25, 2016 7:13am
Quoting austineejo
Good day all, Can anyone explain how the sensor level indicator is used and what it measures. Thanks
It measures volume on price. Ask yourself why most of the times price is stuck at highest levels? I use it with S&R and fibo to set my SL and TP levels. Trade safe
  • #1,287
  • Nov 25, 2016 7:13am Nov 25, 2016 7:13am
EUR/USD +10 pips profit So what about you guys? Do you have it? Did you notice in the last few days how the markets make strong spike moves againt my levels and how they turn rapidly after hitting them?
Attached Image (click to enlarge)
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  • #1,288
  • Edited 7:43am Nov 25, 2016 7:30am | Edited 7:43am
Quoting pipsandbits
{quote} It measures volume on price. Ask yourself why most of the times price is stuck at highest levels? I use it with S&R and fibo to set my SL and TP levels. Trade safe
I don't know for you but on my chart indicator is 12 hours off set meaning it doesn't start at 0:00am , it starts at 12pm...no way to adjust it so I assume you have similar situation ....how can you use it as such?
  • #1,289
  • Nov 25, 2016 8:44am Nov 25, 2016 8:44am
it looks like trading is done for the day/week.
Attached Image
  • #1,290
  • Nov 25, 2016 8:48am Nov 25, 2016 8:48am
Quoting ruma29
{quote} I don't know for you but on my chart indicator is 12 hours off set meaning it doesn't start at 0:00am , it starts at 12pm...no way to adjust it so I assume you have similar situation ....how can you use it as such?
Don´t care about setting the time/hours. At input settings you could change Max_History value. Defaut value is 500. In 30M chart , you could calculate the data that the indicator is checking. So , you are worried about if now is time to have breakfast or dinner. At the end of the day both are meals. If you understand the info that the indicator gives to you and the input settings, your question hasn´t sense.
  • #1,291
  • Nov 25, 2016 9:20am Nov 25, 2016 9:20am
Quoting Trader-Dale
EUR/USD +10 pips profit So what about you guys? Do you have it? Did you notice in the last few days how the markets make strong spike moves againt my levels and how they turn rapidly after hitting them? {image}
I got 15 pips on the E/U.
  • #1,292
  • Nov 25, 2016 9:23am Nov 25, 2016 9:23am
Quoting Trader-Dale
EUR/USD +10 pips profit So what about you guys? Do you have it? Did you notice in the last few days how the markets make strong spike moves againt my levels and how they turn rapidly after hitting them? {image}
HI Dale,
One thing I don't understand is why you only go for 10 pips.
  • #1,293
  • Nov 25, 2016 10:53am Nov 25, 2016 10:53am
Quoting shimmering
{quote} HI Dale, One thing I don't understand is why you only go for 10 pips.
I like higher winning rate. Thats it You can go for much more. Try it and see if it fits you better to hold the position longer.
  • #1,294
  • Nov 25, 2016 11:47am Nov 25, 2016 11:47am
Quoting shimmering
{quote} HI Dale, One thing I don't understand is why you only go for 10 pips.
similar question from my side. I didn't as I am somehow not able to keep good trade and I use RRR 1:1 with my usual SL 10. your entries are based on market profile, so I am just thinking whether you tried also to close (maybe just part of) your position based on market profile (daily POC or so).
  • #1,295
  • Nov 25, 2016 12:20pm Nov 25, 2016 12:20pm
Quoting Trader-Dale
EUR/USD +10 pips profit So what about you guys? Do you have it? Did you notice in the last few days how the markets make strong spike moves againt my levels and how they turn rapidly after hitting them? {image}
Was watching EU today but too close to support which eventually turned to resistance. So I passed on the trade.
10pips at a time, consistently sounds good.
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Excellence is not an act but a habit.
  • #1,296
  • Nov 26, 2016 7:52am Nov 26, 2016 7:52am
Quoting Trader-Dale
{quote} I like higher winning rate. Thats it You can go for much more. Try it and see if it fits you better to hold the position longer.
I saw that it was at R2 for the day, and I thought that it was bound to go much lower, but I wnet by Ziggy's stats of 15 pips profit being at a high winning rate, so I stuck to that. Now you say you like a high winning rate, yet you only recommend to risk 2% - that does not make sense to me.
  • #1,297
  • Edited 10:25am Nov 26, 2016 8:40am | Edited 10:25am
Hello everyone! New trader here.

So I just made it to the end of this thread (made a notepad file with useful information that was said throughout the thread, in case I need to go back to it). First off, thank you Dale for everything you're doing here, from posting every day your trading levels to answering questions. Also big thanks to Ziggy for helping in this thread as well.

I've got a couple of questions if you don't mind answering:

1) For how long have you been trading this strategy of yours? I feel like intraday trades with small SLs / TPs suit me better .
2) You said you don't trade during macro news. Might be a silly question, but since I'm new, when are these macro news issued? (Prior to coming here I went on babypips and investopedia, and read that there are important economic releases at certain times, but for each country). Also, on average, how long do you wait after the news are issued?
3) From what I've read, once the intraday levels are hit we shouldn't be looking to trade them again. Does this apply if these levels are hit during news?
4) This one's longer but I'd appreciate if anyone helped me with this one. This one might be more personal. Should we take into account the spread of our brokers? If so, how?

Example:

  1. Let's say I've got a 2 pip spread on USD/JPY.
  2. I want to go long at 113.15
  3. As always with SL at -12 (113.03) and TP at +10 (113.25)

Should I adjust my TP accordingly by reducing it to 8 pips instead of 10? Otherwise with some bad luck it might be a losing trade for me only because of the spread.


Again, thanks for doing this. Hope you keep the thread going!

Rfs

  • #1,298
  • Nov 26, 2016 8:48am Nov 26, 2016 8:48am
Anyone have Volume profile for MT4, willing to code it?
  • #1,299
  • Nov 28, 2016 12:26am Nov 28, 2016 12:26am
Intraday levels for 28.11.2016
PT 10 pips, SL 12 pips.
Happy trading
Attached Image

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  • #1,300
  • Nov 28, 2016 12:34am Nov 28, 2016 12:34am
If you traded asian session there was also neat reaction exactly at my level (Friday's USD/JPY long level)
Attached Image (click to enlarge)
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