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Trader Dale - daily trading levels

  • #1,721
  • Dec 12, 2016 2:14pm Dec 12, 2016 2:14pm
Quoting therealheel
Dale, Sorry im new to this thread. What are your rules regarding your levels? Do you trade the intraday levels multiple times per day? when would you stop taking a level? After it gets stopped out once or is it still good even then?
Go to e-bay or alibaba and search for some self respect on sale. Maybe it would stop you disrespecting others.
You want to make money but you are not willing to spend your time to read a thread or few, work some?

Dale is great with his signals, you can earn money and learn some. But do a little work, will you?

/Sry, I hate people who want to be spoon-fed./
Please add more indicators, I still see the real price! Thanks!
  • #1,722
  • Dec 12, 2016 2:26pm Dec 12, 2016 2:26pm
Quoting Crackpot
{quote} Go to e-bay or alibaba and search for some self respect on sale. Maybe it would stop you disrespecting others. You want to make money but you are not willing to spend your time to read a thread or few, work some? Dale is great with his signals, you can earn money and learn some. But do a little work, will you? /Sry, I hate people who want to be spoon-fed./

man, i've deployed to afghanistan twice and iraq once, but the scariest and toughest people i've yet to come across are the creatures of the internet. I apologize to any non-neurotic grown-ups on this thread for whom i might have offended or annoyed by asking that question prior to scouring the thread. i am doing my best to get up to speed with the system, as it looks very promising to me.
  • #1,723
  • Dec 12, 2016 2:57pm Dec 12, 2016 2:57pm
Quoting therealheel
Thanks all for bringing me up to speed. im working my way through the thread currently. This system is in line with my education with online trading academy (hunting unfulfilled institutional order stacks), only i paid significantly more for that instruction than dale is charging haha. Looking forward to tracking the results
I personally would want to learn!
So many in the Commercial section want to make me rich! :o
  • #1,724
  • Dec 12, 2016 3:21pm Dec 12, 2016 3:21pm
Quoting Crackpot
{quote} Go to e-bay or alibaba and search for some self respect on sale. Maybe it would stop you disrespecting others. You want to make money but you are not willing to spend your time to read a thread or few, work some? Dale is great with his signals, you can earn money and learn some. But do a little work, will you? /Sry, I hate people who want to be spoon-fed./
Totally agree...
"Dale can you please this... and can you please that...."...if we keep on pestering Dale and the thread, it will vanish.
Best is to learn just from studying the Levels and the Charts, and your own trades..

BTW, I set all the orders at the Levels posted this morning .
Just came back from work: 2 TP /no losses...
This is is fun...
  • #1,725
  • Dec 12, 2016 4:10pm Dec 12, 2016 4:10pm
Has anyone recorded detailed results?..it might be worth looking at levels that were hit during peak times when the big money are online..ie London open & US equities open..& closes.
  • #1,726
  • Dec 12, 2016 5:14pm Dec 12, 2016 5:14pm
Quoting therealheel
{quote} man, i've deployed to afghanistan twice and iraq once, but the scariest and toughest people i've yet to come across are the creatures of the internet. I apologize to any non-neurotic grown-ups on this thread for whom i might have offended or annoyed by asking that question prior to scouring the thread. i am doing my best to get up to speed with the system, as it looks very promising to me.

I pay my sincere respects to you for your noblest service to your country.

Please do not be distracted by unnecessarily sarcastic comments by those who may not have known all the facts.

You are on the right track. Just keep working diligently, persevere and become a successful Trader.

Best of luck.
  • #1,727
  • Dec 12, 2016 6:03pm Dec 12, 2016 6:03pm
Quoting PAStalker
Has anyone recorded detailed results?..it might be worth looking at levels that were hit during peak times when the big money are online..ie London open & US equities open..& closes.
PA,

Im currently backtesting Dale's levels using opposing 30m levels as the target instead of 10pips. Granted, i've only been able to make it through the 30th of November, but so far, it would have affected 10 profitable trades, and 9 of those closed with larger profits, while the last would have gotten stopped out. I plan to publish once i get more backtest data as well as some forward testing under my belt
  • #1,728
  • Dec 12, 2016 6:11pm Dec 12, 2016 6:11pm
Thanks very much trader dale , you are amazing guy , God bless your knowledge .
  • #1,729
  • Dec 13, 2016 2:06am Dec 13, 2016 2:06am
Quoting PAStalker
Has anyone recorded detailed results?..it might be worth looking at levels that were hit during peak times when the big money are online..ie London open & US equities open..& closes.
I have full and detailed results, and can say categorically that within 07:00 - 21:00 UK time it doesn't make a jot of difference what time the levels are traded, but what does make a big difference is:
1. Not trading into the macro news, the levels can be spectacularly good when the news break, but can also be traded right through in the blink of an eye. Dale closes any open trades prior to the macro news events being released, and will wait until the post news volatility has subsided before trading. If you know that the news is being used as a liquidity drive to get orders filled for the reversal then I'm sure these levels can produce a mountain of pips, but I don't have enough knowledge to be able to determine that.
2. Being disciplined enough to walk away from a trade if the level has been tested within a few pips and seen a reaction away from the zone around the level given.

Other than those two provisos it would be very difficult not to profit from trading the levels.

Having knowledge of price action, value areas, support & resistance etc can all help to enhance the level of profitability, but aren't necessary to be able to make a profit. Providing you acknowledge points 1 & 2 above then the most simple of all approaches can pay handsomely. For instance, I'll pop a chart below which comes from a 1:1 RR of 20 stop, 20 PT, really as simple as that, once in a trade at the exact level Dale has given just walk away and let it happen.
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-12-13_0752.png Size: 25 KB


The eagle eyed will notice flat spots on the graph and ask why it isn't either up or down 20 pips, that's because those are trades that hit the level either in the macro news periods or where the level had already been tested.

There are hundreds of different ways to manage trade sizes, and I'n not advocating any of them, but if you traded these at 10 a pip you'd br up by 5,200, and if you started with a bank of 1,000 and traded using a risk of 5% (I'd only do this if that 1,000 was a smallish chunk of my total trading fund), adjusted the risk at the beginning of each day to be exactly 5% of whatever the bank is at that point, then today you'd have a bank of 3,309 and would have suffered a maximum drawdown of 15%.................. and if you'd used 10% that would be ......... well I'm not saying because I don't want to be "responsible" for anyone risking 10% of their bank and thinking it's ok to do so, but provided you start of with a small proportion of your overall trading fund it could be a good way to turbo boost your accont
  • #1,730
  • Dec 13, 2016 2:34am Dec 13, 2016 2:34am
Intraday levels for 13.12.2016
PT 10 pips, SL 12 pips.
Happy trading
Attached Image

Attached Image (click to enlarge)
Click to Enlarge Name: 13.12. print.png Size: 264 KB
  • #1,731
  • Dec 13, 2016 2:48am Dec 13, 2016 2:48am
"if you started with a bank of 1,000 and traded using a risk of 5% (I'd only do this if that 1,000 was a smallish chunk of my total trading fund), adjusted the risk at the beginning of each day to be exactly 5% of whatever the bank is at that point, then today you'd have a bank of 3,309 and would have suffered a maximum drawdown of 15%.................."

Very usefull Ziigy:
BUT
Risking 5% on a 1000 account.
Your lot size is aprox. 15000.(Units)
10 pips, you loose 15 $.(no worries)

Black swan hits, your stop is honoured 1000 pips below.
You are margin callled....and owe 500 on top.

Still, itīs worth the gamble, black swan is very unlikely on a very short period of time that the trades last, also the stops could be honoured just before the collpse...
It getīs dangerous on a bigger account...
  • #1,732
  • Dec 13, 2016 3:03am Dec 13, 2016 3:03am
No au7524 ?
  • #1,733
  • Dec 13, 2016 3:06am Dec 13, 2016 3:06am
Quoting cuchuflito
"if you started with a bank of 1,000 and traded using a risk of 5% (I'd only do this if that 1,000 was a smallish chunk of my total trading fund), adjusted the risk at the beginning of each day to be exactly 5% of whatever the bank is at that point, then today you'd have a bank of 3,309 and would have suffered a maximum drawdown of 15%.................." Very usefull Ziigy: BUT Risking 5% on a 1000 account. Your lot size is aprox. 15000.(Units) 10 pips, you loose 15 $.(no worries) Black swan hits, your stop is honoured 1000...
I'm seriously not recommending doing so, unless as I said the bank you use is only a small bank set up specifically to be "turbo boosted". I think your fears regarding black swans are highly unlikely on these 4 pairs, they are highly liquid pairs and not openly subject to national bank pegs such as the Swiss Franc. That's not to say there can't be volatile movements, but slippage fears didn't ought to freeze your actions. If you were to try turbo boosting your account, then common sense is also required, if I were to do so and successfully built up something from "nothing", I'd hive that off into my main account and trade at a sensible percentage on the main account, and maybe supplement it with a fresh "turbo bank" using a small account again.

Edit - as has been said elsewhere in the thread you can use brokers who guarantee you'll never lose more than you have in your account
  • #1,734
  • Dec 13, 2016 3:14am Dec 13, 2016 3:14am
would shoulda coulda .... 1% on $1k acc imo unless you're bloody robot ... when you have doubled your account THEN look at increasing size IMO.... because untill you double your a/c you have no track record ....
  • #1,735
  • Dec 13, 2016 3:25am Dec 13, 2016 3:25am
Sniper Dale and Surgeon Ziggy. This is the place to be. Thank you.

Dale / Ziggy, I have been working hard trying to figure out the levels but I'm still missing something.

These are my differences on some of today's levels
Eur/Usd 10598 - I have a 2 pip difference
Aud/Usd 7456 - 3 pip difference
Usd/Cad 13175 - 4 pip difference
Usd/Cad 13219 - 0 pip difference (just lucky)
Usd/Jpy 11444 - 4 pip difference

Can you point me in the right direction to improving my accuracy?
After you find your levels are you refining it with the lower time frame PA, maybe M5 or M1?
  • #1,736
  • Edited 3:51am Dec 13, 2016 3:37am | Edited 3:51am
I have written an indi, which helps me to draw Dale's levels.
The indicator uses data from a CSV file (notice, that the date in first column is in the format DD.MM.YYYY hh:mm). This file - daleslevels.csv has to be saved in the folder ...\MQL4\Files\
Indi goes to ...\MQL\Indicators\ and it has to have DLL import allowed.
You are free to modify it.

Thanks Dale for this thread!
Honza
Attached File(s)
File Type: ex4 DalesLevels_v1.0.ex4   9 KB | 495 downloads
File Type: mq4 DalesLevels_v1.0.mq4   8 KB | 527 downloads
File Type: csv daleslevels.csv   < 1 KB | 547 downloads
  • #1,737
  • Dec 13, 2016 3:39am Dec 13, 2016 3:39am
anyone checking the aud/usd now?
  • #1,738
  • Dec 13, 2016 3:39am Dec 13, 2016 3:39am
AUDUSD currently running. Slowly

I think i might start using cTrader with FX-Pro, as i think you can get better spreads than MT4. I hate some pairs starting so negative!
So many in the Commercial section want to make me rich! :o
  • #1,739
  • Dec 13, 2016 3:42am Dec 13, 2016 3:42am
AU currently @ 7477 and I jumped in. I'm trigger happy; hope it works out
  • #1,740
  • Dec 13, 2016 3:46am Dec 13, 2016 3:46am
Quoting manimashin
AU currently @ 7477 and I jumped in. I'm trigger happy; hope it works out
LOl I hope you are not a corp!!!
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