Hi All, I've just tried to reply to a private message only to find that I cannot send to KhalidY. I hope nobody minds but I'll post my reply here. Cheers Ziggy
Hi KhalidY/
The way I operate is to place alarms close to Dales levels, when those alarms alert me I switch my attention to the 5 or even 1 minute charts, if price is moving strongly I will wait until the level is breached and generally will take an entry 2-5 pips past the level, if price is drifting rather than thrusting I generally take the trade as the level is touched.
For trading Dales levels I dont use any indicators whatsoever, for my own style of trading I do use ema's, but only as a guide to the strength of the trend. I don't rely on any indicators - the big thing about indicators is that they tell you something different on every timeframe, I know that some put them to good effect, I prefer to just see what the market is doing and take my lead from that.
I personally do not use market profiles, I know they can be very informative but for them to be truely effective you must have a central exchange so that true volumes can be seen. This can only be achieved in the futures markets and you have to pay to get such information. I would be happy to do so but for my own particular trading it isn't neccessary, so I don't use them.
Very best of luck. Cheers Ziggy
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To: ziggy | From: KhalidY | Sent: Nov 24, 2016 6:29am
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Hello Ziggy,
I am new to this thread and trying to read form the beginning to the end. I noticed that you are one of the most helpful and active followers of this thread
I was wondering if you could kindly help me out answering a few questions:
1- When Dale posts these levels how exactly do you enter. For example, do you just place a Short order as soon as price hits ID Short level or you wait for some kind of reaction? If so what kind of reaction do you look for before entering the trade?
2- Do you use any indicators such as EMA or Trendlines?
3- Where can I get Market profile info? And what is a good way to apply it to Forex?
I would really appreciate your help.
Thank you and Good luck with your trading
Khalid Y
Hi KhalidY/
The way I operate is to place alarms close to Dales levels, when those alarms alert me I switch my attention to the 5 or even 1 minute charts, if price is moving strongly I will wait until the level is breached and generally will take an entry 2-5 pips past the level, if price is drifting rather than thrusting I generally take the trade as the level is touched.
For trading Dales levels I dont use any indicators whatsoever, for my own style of trading I do use ema's, but only as a guide to the strength of the trend. I don't rely on any indicators - the big thing about indicators is that they tell you something different on every timeframe, I know that some put them to good effect, I prefer to just see what the market is doing and take my lead from that.
I personally do not use market profiles, I know they can be very informative but for them to be truely effective you must have a central exchange so that true volumes can be seen. This can only be achieved in the futures markets and you have to pay to get such information. I would be happy to do so but for my own particular trading it isn't neccessary, so I don't use them.
Very best of luck. Cheers Ziggy
---------------------------------------------------------------------------------
To: ziggy | From: KhalidY | Sent: Nov 24, 2016 6:29am
---------------------------------------------------------------------------------
Hello Ziggy,
I am new to this thread and trying to read form the beginning to the end. I noticed that you are one of the most helpful and active followers of this thread
I was wondering if you could kindly help me out answering a few questions:
1- When Dale posts these levels how exactly do you enter. For example, do you just place a Short order as soon as price hits ID Short level or you wait for some kind of reaction? If so what kind of reaction do you look for before entering the trade?
2- Do you use any indicators such as EMA or Trendlines?
3- Where can I get Market profile info? And what is a good way to apply it to Forex?
I would really appreciate your help.
Thank you and Good luck with your trading
Khalid Y
