Trader Dale - daily trading levels | Page 98 | 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

  • #1,941
  • Dec 16, 2016 6:25am Dec 16, 2016 6:25am
Quoting ziggy
is anyone else having mt4 issues today, I have 3 different broker screens and I've had freeze problems on all 3 today, not caused by either internet issues at my end or indicators, coz taking everything off made no difference
no problems here on three different brokers with mt4.
  • #1,942
  • Dec 16, 2016 6:34am Dec 16, 2016 6:34am
Quoting NaughtyPip
Did anyone get these on eu and au (not on dales list - they are from todays profile)... I missed both entries by half a pip... {image}
Hi, can you please explain why do you consider these levels to be valid for trade? The price hit them several times before. Thank you
  • #1,943
  • Dec 16, 2016 6:39am Dec 16, 2016 6:39am
Quoting majrou666
{quote} Hi, can you please explain why do you consider these levels to be valid for trade? The price hit them several times before. Thank you
hi these were based on todays developing profile, not yesterdays. I would ignore my post though and just concentrate on what Dale posts. He did not advocate these trades.
  • #1,944
  • Dec 16, 2016 6:44am Dec 16, 2016 6:44am
Hello Ziggy and Dale

It is said that sometimes helping others is the biggest reward one can get. I assume this is what motivates you to keep this thread open. Anyway I must thank you for all the help you are giving us selflessly.

After intensive reading and learnning through the thread I want to get into real practice. The first step should be choosing a platform and the right indicators.

From what I read the essential information is PriceAction (PA = the value itself), trading volume (amount of contracts) and Order Flow (OF = difference of BUY Vs SELL orders). I saw in several webpages that the Order Flow can be represented in cells (like an Excell Sheet) with SELL and BUY side by side in the price level row.

Attached Image (click to enlarge)
Click to Enlarge Name: OrderFlow.png Size: 146 KB


I particularly find this quite useful. But I cannot find a trader platform with that indicator for free. Could you please suggest us a trading platform and some free indicators to get this information? I know there is information and links to several indicators through the thread, but I find it a little disperse. If this is not aking too much I would ask for a compilation post with the simplest information (trader platforms, indicators, where to download it and maybe a link to a guide for new users -to install and configure the platform and indicators).

Thank you very much beforehand for your help.

Kind regards
Jexpol
  • #1,945
  • Dec 16, 2016 6:56am Dec 16, 2016 6:56am
lately posts are deviating from thread subject. There are bunch of threads about MP..a few more wouldn't make difference.
  • #1,946
  • Dec 16, 2016 7:07am Dec 16, 2016 7:07am
Quoting FX-Flux
{quote} Mine was 10 pips away. I'd still take it.
There has been a second attempt (eurusd), again good 10 pips away, so I guess the level is still valid. Dale mentioned cancelling when price gets to 2-3 pips to the level and there is a visible reaction..
  • #1,947
  • Dec 16, 2016 7:22am Dec 16, 2016 7:22am
Quoting jexpol
....Kind regards Jexpol
Anything else?
  • #1,948
  • Dec 16, 2016 7:29am Dec 16, 2016 7:29am
Quoting ziggy
is anyone else having mt4 issues today, I have 3 different broker screens and I've had freeze problems on all 3 today, not caused by either internet issues at my end or indicators, coz taking everything off made no difference
also using 3 different brokers mt4's but no issues noticed today
  • #1,949
  • Dec 16, 2016 7:42am Dec 16, 2016 7:42am
Quoting ziggy
{quote} I'm really not an expert, I'm sure / hope an expert will give you some proper guidance. I personally want to see a composite profile that covers all the priceaction within a range developed from "new information". So for me I consider the probable 3 rather than 2 US rate increases next year as "new" information, so I set the start of my composite profile where price broke out of the previous range on the release of that news. It will just help me build up a picture over the coming days. I've no doubt others use it to much greater effect,...
Thanks Ziggy
  • #1,950
  • Dec 16, 2016 7:49am Dec 16, 2016 7:49am
Quoting jexpol
Hello Ziggy and Dale It is said that sometimes helping others is the biggest reward one can get. I assume this is what motivates you to keep this thread open. Anyway I must thank you for all the help you are giving us selflessly. After intensive reading and learnning through the thread I want to get into real practice. The first step should be choosing a platform and the right indicators. From what I read the essential information is PriceAction (PA = the value itself), trading volume (amount of contracts) and Order Flow (OF = difference of BUY...
I've never seen the kind of data feeds you are looking for available for free, I'm afraid. There are some pretty good deals out there, however and if you keep trading Dale's levels as he produces them, then it won't be too long before you would be at a level where you could allocate a portion of your profits to that kind of feed.
  • #1,951
  • Dec 16, 2016 7:51am Dec 16, 2016 7:51am
Quoting Avail
{quote} Hi Radaway, Still valid for me. It's good to see tricks being played on the way to these levels. {image}
Plus 10 on each level. I only got to trade the last one. Wish I could trade and read price like this everyday.
Attached Image (click to enlarge)
Click to Enlarge Name: EUR USD TG update.png Size: 54 KB
  • #1,952
  • Dec 16, 2016 8:06am Dec 16, 2016 8:06am
Quoting Avail
{quote} Plus 10 on each level. I only got to trade the last one. Wish I could trade and read price like this everyday. {image}
hi - what confluence did you have for those levels?
  • #1,953
  • Dec 16, 2016 8:08am Dec 16, 2016 8:08am
Expectancy = (Probability of Win * Average Win) - (Probability of Loss * Average Loss)


Trader Dale, your TP is 10 and SL is 12.
You have to win 60% of the time to be profitable (6 out of 10 trades).

Expectancy = (60% * 10) - ( 40% * 12 ) = 60 - 48 = 12.

Would you please modify post #1 to show your method of determining entry levels and rules of engagement?
Thanks.
Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,954
  • Dec 16, 2016 8:23am Dec 16, 2016 8:23am
Quoting Avail
Hi Dale, Thanks for the levels. I still get some differences but I guess they are close enough until I expand my knowledge. I have the following differences today 3 pips higher on Eur/Usd -Short 1(Nice level) 2 pips higher on Aud/Usd -Short 1 may as well be a billion pips out on Usd/Cad (not even in the ball park) 2.5 pips higher on Usd/Jpy I can see the Usd/Cad level acted as a good S/R and your level is at a good node before the move up but then I'm lost. If you have anything on Usd/ Cad to show what you see and point me in the right direction...
Very good job! USD/CAD was mostly profile (volume) based level. 11 days is quite old but if the signal is strong and makes sense even in a larger scope, then it is ok.
  • #1,955
  • Dec 16, 2016 8:24am Dec 16, 2016 8:24am
Quoting radaway
Hi All , the eur/usd(short 1) just about touched the zone around 40-50 min ago & turned back . is it still worthwhile to go with it ?
Still a valid one.
  • #1,956
  • Dec 16, 2016 8:30am Dec 16, 2016 8:30am
Quoting tooslow
expectancy = (probability of win * average win) - (probability of loss * average loss) trader dale, your tp is 10 and sl is 12. You have to win 60% of the time to be profitable (6 out of 10 trades). Expectancy = (60% * 10) - ( 40% * 12 ) = 60 - 48 = 12. Would you please modify post #1 to show your method of determining entry levels and rules of engagement? Thanks. Cheers!
certainly your post is important but to be noticed need even bigger font size.
  • #1,957
  • Dec 16, 2016 8:34am Dec 16, 2016 8:34am
Quoting jexpol
Hello Ziggy and Dale It is said that sometimes helping others is the biggest reward one can get. I assume this is what motivates you to keep this thread open. Anyway I must thank you for all the help you are giving us selflessly. After intensive reading and learnning through the thread I want to get into real practice. The first step should be choosing a platform and the right indicators. From what I read the essential information is PriceAction (PA = the value itself), trading volume (amount of contracts) and Order Flow (OF = difference of BUY...
I didn't come across free OF but there was some OF at futures.io. But still not completely free. You need to pay $100 for elite membership. This is the cheapest OF I came across. I didn't try it though so I can't say anything about the quality.
But more importantly - IT IS NOT A HOLY GRAIL! I suggest getting as much info and practice with price action+market profile. Orderflow will probably be more a distraction than usefull tool.
  • #1,958
  • Dec 16, 2016 8:41am Dec 16, 2016 8:41am
Quoting TooSlow
Expectancy = (Probability of Win * Average Win) - (Probability of Loss * Average Loss) Trader Dale, your TP is 10 and SL is 12. You have to win 60% of the time to be profitable (6 out of 10 trades). Expectancy = (60% * 10) - ( 40% * 12 ) = 60 - 48 = 12. Would you please modify post #1 to show your method of determining entry levels and rules of engagement? Thanks. Cheers!
Iam not sure what you want me to modify. Could you please explain if I have something wrong?
  • #1,959
  • Dec 16, 2016 8:51am Dec 16, 2016 8:51am
Quoting jexpol
Hello Ziggy and Dale It is said that sometimes helping others is the biggest reward one can get. I assume this is what motivates you to keep this thread open. Anyway I must thank you for all the help you are giving us selflessly. After intensive reading and learnning through the thread I want to get into real practice. The first step should be choosing a platform and the right indicators. From what I read the essential information is PriceAction (PA = the value itself), trading volume (amount of contracts) and Order Flow (OF = difference of BUY...
Hi Jexpol, we all need a helping hand at times I take no credit on this thread, it is totally down to Dale for which I'm very grateful. I have seen potentially good threads in the past come to a grinding halt because the originator gets bombarded with questions and sometimes worse so I have involved myself where I feel I can to large extent to try to share the load. It also nice to be able to help others who are at the early stages of trading, it can be a lonely game at times and a few friends are always nice to have.

As others have said I'm pretty certain you wont find a free live futures data feed, deposit a large sum with a broker and you might be able to negotiate one. But what I would say is that it isn't really necessary, I'd like to have an Aston Martin but I can still get to where I want to be in my Audi and so it is with trading. Sometimes too many bells & whistles can be a distraction, just a battlefield map and observation will do the job well enough
  • #1,960
  • Dec 16, 2016 9:04am Dec 16, 2016 9:04am
Quoting NaughtyPip
{quote} hi - what confluence did you have for those levels?

Hi Naughtypip,

Bottom level was a nice trick area to get the retailers selling, looking left price had already engulfed a prior SR and my trade was the first retest at the left shoulder I marked. (I was a pip or 2 late due to watching the 10sec chart for another confirmation)

Middle level was the decision point to engulf, with a quick move like this I'd expect the ITs to have unfilled orders at the level.

Top level was another nice area for ITs to take retailers in, looking at the lows around 1.04483 made it stand out to me but I know not to short into the zone I marked.

I preferred the bottom level as it was the extreme but if I was advanced enough once the 1st zones got engulfed I should have looked to trade the other direction.

Hope this helps as I'm not good at explaining .
3 traders viewing now