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Trader Dale - daily trading levels

  • #1,321
  • Nov 28, 2016 9:45am Nov 28, 2016 9:45am
You guys got the USD/CAD? Congratulations. In my charts the market turned sooner and i dodn't take it If you didn't get filled like me then don't trade the level anymore.

Attached Image (click to enlarge)
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  • #1,322
  • Nov 28, 2016 9:46am Nov 28, 2016 9:46am
Quoting Trader-Dale
You guys got the USD/CAD? Congratulations. In my charts the market turned sooner and i dodn't take it If you didn't get filled like me then don't trade the level anymore. {image}
omg, it is lucky to me. it is in fact turned a little bit sooner
  • #1,323
  • Nov 28, 2016 9:54am Nov 28, 2016 9:54am
Quoting Trader-Dale
You guys got the USD/CAD? Congratulations. In my charts the market turned sooner and i dodn't take it If you didn't get filled like me then don't trade the level anymore. {image}
On my chart it turned 2.5 pips too early so no trade.
  • #1,324
  • Nov 28, 2016 9:55am Nov 28, 2016 9:55am
Quoting ziggy
{quote} I so agree with you Dale, it's a long war and it's much better for the mind to risk little, this is something it took me far too long to come to terms with. Like most in their early days my focus was on how much profit I could make, I even knew the risk profile of the trades I was taking and kidded myself I could withstand the pain of substantial drawdowns as I "knew" it would all come good in the end. Well it would have all come good in the end, but not before it messed with my head - seeing a 25% or 35% drawdown looks ok on paper when...
Exactly mate. When I risked too much in the past I sometimes had the problem to push the trigger and go in the trade because there alwas was something that I dodn't like about the trade - I was paralyzed. Of course the trades that I managed to take turned to be losers - Murphys law . You need to find what suits you best and recognise when comes the pain when you are unable to think clearly. One of the hardest things in trading is get out of a big drawdown so I try to avoid it as much as I can.
  • #1,325
  • Nov 28, 2016 9:58am Nov 28, 2016 9:58am
Quoting ruma29
{quote} Dale would you be willing to elaborate on order flow you use and how? i was looking even in the pockets of MP and didn't give me clue about numbers you are posting...was looking high and low volume area...something I am missing here.
Iam not sure I follow you mate. You want to know how I created some level today? Which one?
  • #1,326
  • Nov 28, 2016 10:40am Nov 28, 2016 10:40am
I am a new at trading and starting with your strategy of 10 pip trades. I am playing mainly off trend and resistance lines. So far it hasn't been to hard but it is way to early to tell. Figured I would start trying different strategies till something clicked. How many trades a week do you try to shoot for?
  • #1,327
  • Nov 28, 2016 11:02am Nov 28, 2016 11:02am
Quoting Merchnt2424
I am a new at trading and starting with your strategy of 10 pip trades. I am playing mainly off trend and resistance lines. So far it hasn't been to hard but it is way to early to tell. Figured I would start trying different strategies till something clicked. How many trades a week do you try to shoot for?
I do approximatelly 10 intraday trades a week.
  • #1,328
  • Nov 28, 2016 11:03am Nov 28, 2016 11:03am
Quoting ziggy
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...
Thank you very much Ziggy. I appreciate your time and effort. That was very helpful.
  • #1,329
  • Nov 28, 2016 11:43pm Nov 28, 2016 11:43pm
Hello everyone,
Could anyone please tell me where to get market profile and order flow data? I dont think tradingview has it.
Thanks
  • #1,330
  • Nov 28, 2016 11:59pm Nov 28, 2016 11:59pm
Quoting Trader-Dale
{quote} Iam not sure I follow you mate. You want to know how I created some level today? Which one?
here:
Quoting Trader-Dale
Hello my friends! In this thread I will post my daily predictions on intraday trading levels. My trading levels are based mostly on Market profile, orderflow and price action. You are all welcome here to trade them and I would love some feedback from you on how you like them and if you trade them sucessfully.
I looked very closely in MP every pocket and every pick, looked left or background, supply /demand, climax volume and couldn't relate anything to your posted levels which are impressive at least to say. Even up to her with all I mentioned probably i make mistake in observation and what is left which I do not understand at all is orderflow you mentioned in your first post.

Do you use special indicators available for ninja trader platform and not for MT4?
Even you spell out everything still need time to gain experience and confidence in attempt to be successful as you are.

Thank you.
  • #1,331
  • Nov 29, 2016 2:42am Nov 29, 2016 2:42am
Intraday levels for 29.11.2016
PT 10 pips, SL 12 pips.
Happy trading
Attached Image

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  • #1,332
  • Nov 29, 2016 3:23am Nov 29, 2016 3:23am
Got SL on USD/JPY, damn.
  • #1,333
  • Nov 29, 2016 3:29am Nov 29, 2016 3:29am
Hi Dale, thank you for this thread - subscribed!
Let me ask you some questions:
1. How long are your levels valid? Do you cancel them only when hit, or also when there is turn in trend cca 2 pips before the level? Do you cancel them the next trading day?
2. Why SL/Tp 12/10? Have you statisticly tested these values?
3. How long does your trade take on average? Do you have some stat. in table for example?
4. Last question - actual one - what was the short 1 on usdjpy on 112,60? Was it valid level, you don't have it in your chart?

Thank you, Honza
  • #1,334
  • Nov 29, 2016 3:37am Nov 29, 2016 3:37am
Quoting Trader-Dale
Got SL on USD/JPY, damn.
bit of a bummer to see it turn just after the stop Dale Cant win them all. Yesterday was a tad unlucky with several turns just prior to the entry level............. onwards & upwards
  • #1,335
  • Nov 29, 2016 3:46am Nov 29, 2016 3:46am
Quoting Trader-Dale
Intraday levels for 29.11.2016 PT 10 pips, SL 12 pips. Happy trading {image} {image}
Dale,

May I ask you, what are your historical win %, 70%?

thanks
  • #1,336
  • Nov 29, 2016 4:16am Nov 29, 2016 4:16am
Hi All
today I faced a debacle with the ' USD/JPY' and like Dale said : "Damn"
However I wanted to know a thing or two from this bad trade
I have attached the trade screenshot here.

1) I had created a pending order for 0.05 lots the moment I got an alarm
2) then I started to monitor the charts
3) I saw the pips run from red to green
4) at that time I upped my lots to 2 via modify order (marked as '1' in the screenshot)
5) but then the pips went immediately to red & I reduced my lots to a safe (I thought) 0.01 lots (marked as '2')
*but at this time , I was unaware that my total funds decreased by 97.64 euros.

I am aware of this bite now, but why did it happen. I did not 'commit' to any trade , and was just 'fooling around' with the lots , but each change I made(while the pips were red , was deducted from the account). and this situation went on with the marked '3', '4' & '5'
basically , I was manipulating the lots on the fly and I got punished.
I had done similarly on a eur/usd trade (right @ the bottom) and that had gone fine.
so I was under the impression, I can change the dynamics till a trade is not committed( either S.L or T.P or a manual close from the user) via modify order but on a Live account I think I am learning it the hard way.
any inputs on what I should be aware of is appreciated.
Thanks
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  • #1,337
  • Nov 29, 2016 4:22am Nov 29, 2016 4:22am
Quoting ziggy
{quote} bit of a bummer to see it turn just after the stop Dale Cant win them all. Yesterday was a tad unlucky with several turns just prior to the entry level............. onwards & upwards
Feel the same way. If I haven't already said it. Ziggy thanks for helping out here. I Appreciate your time.
  • #1,338
  • Nov 29, 2016 4:34am Nov 29, 2016 4:34am
Rad , looks like you have no plan ...you're wasting your time ......
  • #1,339
  • Nov 29, 2016 4:35am Nov 29, 2016 4:35am
Quoting ziggy
{quote} bit of a bummer to see it turn just after the stop Dale Cant win them all. Yesterday was a tad unlucky with several turns just prior to the entry level............. onwards & upwards
If I had SL 12,1 This trade would probably be a winner thats tough luck. But still, nothing to be raging about. Level was very strong and execution of the trade was without a mistake. I would love to hear that somebody entered the trade 1 pip later and got out with a nice profit Is there somebody who managed that?
  • #1,340
  • Nov 29, 2016 4:40am Nov 29, 2016 4:40am
Quoting DavidRP
{quote} Dale, May I ask you, what are your historical win %, 70%? thanks
74 % If calculated for RRR 1:1. With my RRR=0,83 the winning ratio is higher.
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