Trader Dale - daily trading levels | Page 73 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Pinbar trader EA - Trading pinbars off weekly S&R levels 435 replies

Are you a trend trader or a counter-trend trader? 29 replies

RS levels and physic levels are in indicator (created) 3 replies

IkonFX Viking Trader or Pfgbest Viking Trader? 2 replies

Attachments: Trader Dale - daily trading levels
Exit Attachments

Trader Dale - daily trading levels

  • #1,441
  • Dec 2, 2016 3:29am Dec 2, 2016 3:29am
Quoting Rfs199
Exactly. When that happens it's better to just not take the trade anymore. I learned that the hard way .
It is okay to learn and pay tuition. Every good trader paid their share Iam sure
  • #1,442
  • Dec 2, 2016 3:36am Dec 2, 2016 3:36am
Quoting rabitt1965
Hi DALE , I think eurusd 1.0723 is mistake in picture is different. THANKS. 1.681 maybe.
yes there is a mistake in the picture. sorry. i will correct it
  • #1,443
  • Dec 2, 2016 3:43am Dec 2, 2016 3:43am
Quoting ziggy
{quote} we only need to delete the level that has either been tested or traded, all other levels remain valid until they have either been tested or traded, each level represents a stand alone level of activity which resulted in a significant move, so it remains an area of interest until it is visited again.
ziggy, the Eur/Usd for the level 1.06430 was meeting criteria: "so it remains an area of interest until it is visited again",
It was definitely visited --but it went bust.
  • #1,444
  • Dec 2, 2016 3:51am Dec 2, 2016 3:51am
Quoting radaway
{quote} ziggy, the Eur/Usd for the level 1.06430 was meeting criteria: "so it remains an area of interest until it is visited again", It was definitely visited --but it went bust.
There was a reaction of 55 pips 3-4 pips before the level. Thats pretty strong and close reaction. It here was an 8 pip reaction 3-4 pips before the level I would probably take it but because the reaction was that strong I didnt trade it anymore.
  • #1,445
  • Dec 2, 2016 4:02am Dec 2, 2016 4:02am
Quoting radaway
{quote} ziggy, the Eur/Usd for the level 1.06430 was meeting criteria: "so it remains an area of interest until it is visited again", It was definitely visited --but it went bust.
the zone had already been visited/tested - that is the time to delete the order, the earlier post I made with the chart on shows this, had there been a another short level higher up the page that 2nd level would still remain valid, that is the question I thought you were asking
  • #1,446
  • Dec 2, 2016 4:03am Dec 2, 2016 4:03am
Guiys i am confused with the pip settings how are they worked out for each currency? example the platform i am using shows pips when setting SL/TP but it seems to be too low on some but ok on others thx
  • #1,447
  • Dec 2, 2016 4:45am Dec 2, 2016 4:45am
So the 106460 long is in progress right now correct?
  • #1,448
  • Dec 2, 2016 4:54am Dec 2, 2016 4:54am
Quoting sheppy
So the 106460 long is in progress right now correct?
correct
  • #1,449
  • Dec 2, 2016 4:59am Dec 2, 2016 4:59am
Thanks Dale
  • #1,450
  • Dec 2, 2016 5:02am Dec 2, 2016 5:02am
Quoting Trader-Dale
{quote} correct
Hi Dale, I got into the AUDUSD short too soon I think. You think this will be an ok short? I placed my SL at .7432 & TP at your support level .7382
  • #1,451
  • Dec 2, 2016 5:02am Dec 2, 2016 5:02am
Can please somebody answer me ,confused
We passed 1.0646 already, if we get the the trade it hit SL already, so how we can be in that trade now ???
  • #1,452
  • Dec 2, 2016 5:12am Dec 2, 2016 5:12am
Quoting rabitt1965
Can please somebody answer me ,confused We passed 1.0646 already, if we get the the trade it hit SL already, so how we can be in that trade now ???
My stop hasn't been hit, so I am still long EU, there hasn't been much of a reaction either way yet, if this gets in front by 7-8 pips then at the very least I won't be taking a loss on it, if the stop is hit....... that's what I have stops for, will take it & move on
  • #1,453
  • Dec 2, 2016 5:25am Dec 2, 2016 5:25am
Quoting rabitt1965
Can please somebody answer me ,confused We passed 1.0646 already, if we get the the trade it hit SL already, so how we can be in that trade now ???
The stop loss is 1.06340(aprox) This hasn't been hit as of this post.
  • #1,454
  • Dec 2, 2016 5:27am Dec 2, 2016 5:27am
I might regret posting this, but I know some folks are struggling with stops and trade management etc. I am NOT making this as a recommendation, simply an observation. I haven't or wouldn't have taken any trades where any of the following applies:
1. the zone that the level is in has been tested
2. There is pending "red" news, or very recent "red" news - say 20 mins either side
3. I haven't traded any levels during the Asian session.

Accepting those 3 point, if I had traded every other trade that hit the level, at exactly the level, and then just let it win or lose with a 20 pip stop and a 20 pip profit take, then since Dale started this thread I would be up 440 pips, this is how the graph would look.
Cheers Ziggy
Attached Image
  • #1,455
  • Dec 2, 2016 5:28am Dec 2, 2016 5:28am
Quoting rabitt1965
Can please somebody answer me ,confused We passed 1.0646 already, if we get the the trade it hit SL already, so how we can be in that trade now ???
Your S/L should be at 1.0634 which as I write hasn't been hit.

However, I'm out with +10 pips.
There was a EUR data release almost exactly as the level was reached so I waited for the pin bar to form on the 5m chart and entered at 1.06385 and exited at 1.06485 as there was a RN (1.06500) which looks like it's acting as a stopper.
Never argue with a fool; onlookers may not be able to tell the difference.
  • #1,456
  • Dec 2, 2016 5:33am Dec 2, 2016 5:33am
Quoting ziggy
I might regret posting this, but I know some folks are struggling with stops and trade management etc. I am NOT making this as a recommendation, simply an observation. I haven't or wouldn't have taken any trades where any of the following applies: 1. the zone that the level is in has been tested 2. There is pending "red" news, or very recent "red" news - say 20 mins either side 3. I haven't traded any levels during the Asian session. Accepting those 3 point, if I had traded every other trade that hit the level, at exactly the level, and then just...
Ziggy thank you for this information.
  • #1,457
  • Dec 2, 2016 5:34am Dec 2, 2016 5:34am
Quoting ziggy
I might regret posting this, but I know some folks are struggling with stops and trade management etc. I am NOT making this as a recommendation, simply an observation. I haven't or wouldn't have taken any trades where any of the following applies: 1. the zone that the level is in has been tested 2. There is pending "red" news, or very recent "red" news - say 20 mins either side 3. I haven't traded any levels during the Asian session. Accepting those 3 point, if I had traded every other trade that hit the level, at exactly the level, and then just...
Nice work zoggy the thing with these bigger sl and tp's is that the spread matters less. So essentially if the sl and tp is big enough you can get away with using limit orders...
  • #1,458
  • Dec 2, 2016 5:51am Dec 2, 2016 5:51am
Quoting NaughtyPip
{quote} Nice work zoggy the thing with these bigger sl and tp's is that the spread matters less. So essentially if the sl and tp is big enough you can get away with using limit orders...
only providing you take note of points 1. & 2. of my post, although I don't know for certain I feel pretty confident that trading the Asian session would have worked out well. I can tell you that had points 1. & 2. been ignored the result would be 140 rather than 440............. still a profit, but a huge difference. That is why placing set & forget limit entries isn't a great idea
  • #1,459
  • Dec 2, 2016 6:00am Dec 2, 2016 6:00am
thanks dale. It's reached the zone
Risk comes from not knowing what you're doing.
  • #1,460
  • Dec 2, 2016 6:10am Dec 2, 2016 6:10am
Quoting ziggy
I might regret posting this, but I know some folks are struggling with stops and trade management etc. I am NOT making this as a recommendation, simply an observation. I haven't or wouldn't have taken any trades where any of the following applies: 1. the zone that the level is in has been tested 2. There is pending "red" news, or very recent "red" news - say 20 mins either side 3. I haven't traded any levels during the Asian session. Accepting those 3 point, if I had traded every other trade that hit the level, at exactly the level, and then just...
Good work Ziggy! Thank you very much! Very good idea trading like this if it suits somebody's style better!
4 traders viewing now