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Trader Dale - daily trading levels

  • #2,481
  • Dec 22, 2016 12:15pm Dec 22, 2016 12:15pm
Quoting KORfx
Footprint EU6 eur futures current screen shot footprint imbalance supply and demand indi below should you care to utilize it. happy xmas {image} {file}
Thank you KORfx
chance of any small documentation on how to interpret what we see on the screen ?or maybe an example
  • #2,482
  • Dec 22, 2016 12:34pm Dec 22, 2016 12:34pm
Quoting lKeithStone
{quote} I will have to kindly disagree with you here.
No problem Keith. I've said what I felt is important and in every respect it's solely up to the individual to tread his (or her) own journey.
  • #2,483
  • Dec 22, 2016 1:12pm Dec 22, 2016 1:12pm
Quoting radaway
{quote} Thank you KORfx chance of any small documentation on how to interpret what we see on the screen ?or maybe an example
https://www.youtube.com/watch?v=X-sg88_K-Kw <<<< video an overview to give you some insight its 1 hour long listen to it before you go out on the p*** for xmas.

  • #2,484
  • Dec 22, 2016 1:44pm Dec 22, 2016 1:44pm
Quoting simond2002
{quote} No problem Keith. I've said what I felt is important and in every respect it's solely up to the individual to tread his (or her) own journey.
@Simond2002..I totally agree 100% with your earlier submissions, as it regards to both the market profile and all what not. I personally regard them as indicators which can only be useful in the hands of an experienced user like Dale and some few others... Practically ,I trade off sup/demand areas,just recently, inspired by dale,I have been testing the 10-12 risk /reward thing,am amazed how my equity curve has become since then,long story short,just wanted to stress that this can easily be replicated without a single indicator if you know what you are doing.
Happy Xmas everyone!
  • #2,485
  • Dec 22, 2016 1:47pm Dec 22, 2016 1:47pm
Quoting lKeithStone
{quote} I will have to kindly disagree with you here. I wish like hell someone would have taught me about Volume profile, Footprint charts, tape reading, futures data, ect... in the beginning. It would have cut out a year and a half of wasted time, and would have cut out several bad habits. Price action isn't rocket science: Price action is the movement of a security's price. Price action is encompassed in technical and chart pattern analysis, which attempt to find order in the sometimes seemingly random movement of price. Swings (high and low),...
Couldn't agree more. Thank you.
  • #2,486
  • Edited Dec 23, 2016 3:05am Dec 22, 2016 2:23pm | Edited Dec 23, 2016 3:05am
Quoting KORfx
{quote} https://www.youtube.com/watch?v=X-sg88_K-Kw <<<< video an overview to give you some insight its 1 hour long listen to it before you go out on the p*** for xmas.
Thank You KORfx
  • #2,487
  • Edited 4:14pm Dec 22, 2016 3:53pm | Edited 4:14pm
Quoting KORfx
Footprint EU6 eur futures current screen shot footprint imbalance supply and demand indi below should you care to utilize it. happy xmas {image} {file}
Hi KORfx

the indicator shows only the S/R band but not the volume imbalance (see image)
anything that we are missing here maybe ? Thx.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 51 KB
  • #2,488
  • Dec 22, 2016 4:27pm Dec 22, 2016 4:27pm
Quoting radaway
{quote} KORfx the indicator shows only the S/R band but not the volume imbalance (see image) anything that we are missing here maybe ? {image}
Hello Rad,

The Indi is a supply demand its not a support resistance level or sr indicator. very powerful on a 30 min 60 min chart. The footprint charts are an application that can be sourced over the net, lots to choose from. Its a paid service however I understand ninja trader supply this with a script. If you want the data to be 100% accurate then this comes at a cost to us all. Stick with dales lines if you are new to this Business and the supply and demand Indi will help you.

Recommend You can change the colours in the Indicator settings as so you know the level is being retested again not for the 1st time.
Attached Image (click to enlarge)
Click to Enlarge Name: sup-dem.JPG Size: 288 KB
  • #2,489
  • Dec 22, 2016 5:13pm Dec 22, 2016 5:13pm
Quoting TheBiafran
{quote} @Simond2002..I totally agree 100% with your earlier submissions, as it regards to both the market profile and all what not. I personally regard them as indicators which can only be useful in the hands of an experienced user like Dale and some few others... Practically ,I trade off sup/demand areas,just recently, inspired by dale,I have been testing the 10-12 risk /reward thing,am amazed how my equity curve has become since then,long story short,just wanted to stress that this can easily be replicated without a single indicator if you know...
I will never understand this way of thinking. Accuracy and timing is the name of the game. If you could improve your entries using tools that show you supply/demand levels to the pip. Why would you want to draw them blind? Footprint and Volume profile are more than "indicators", they reveal what is going on within the candle. They show imbalances of buying and selling.

Candles themselves could be considered indicators. We use candles to show us a graphical representation of price instead of looking at a wall of numbers. Candles make it easier for us to decipher the information. Footprint and Volume Profile help us do the same.
  • #2,490
  • Dec 22, 2016 5:14pm Dec 22, 2016 5:14pm
Quoting lKeithStone
{quote} I will never understand this way of thinking. Accuracy and timing is the name of the game. If you could improve your entries using tools that show you supply/demand levels to the pip. Why would you want to draw them blind? Footprint and Volume profile are more than "indicators", they reveal what is going on within the candle. They show imbalances of buying and selling. Candles themselves could be considered indicators. We use candles to show us a graphical representation of price instead of looking at a wall of numbers. Candles make it easier...
I think you're right to be successful trader you need an edge. No matter what that is.
  • #2,491
  • Dec 22, 2016 8:33pm Dec 22, 2016 8:33pm
EU spiked higher than 12 pip SL,,,, win some lose some!
  • #2,492
  • Dec 22, 2016 8:55pm Dec 22, 2016 8:55pm
Quoting KORfx
Footprint EU6 eur futures current screen shot footprint imbalance supply and demand indi below should you care to utilize it. happy xmas {image} {file}
if you dont mind me asking KORfx, do you pay for that futures charting software? If so, what does a subscription run you? Again, if you dont mind me asking. merry christmas
  • #2,493
  • Dec 22, 2016 8:56pm Dec 22, 2016 8:56pm
Quoting KORfx
{quote} Hello Rad, The Indi is a supply demand its not a support resistance level or sr indicator. very powerful on a 30 min 60 min chart. The footprint charts are an application that can be sourced over the net, lots to choose from. Its a paid service however I understand ninja trader supply this with a script. If you want the data to be 100% accurate then this comes at a cost to us all. Stick with dales lines if you are new to this Business and the supply and demand Indi will help you. Recommend You can change the colours in the Indicator settings...

aaaaaand just read this. sorry
  • #2,494
  • Dec 22, 2016 9:56pm Dec 22, 2016 9:56pm
Quoting burntcandle
{quote} Hello Ziggy, Dale, and everyone else on this thread! I am super brand new to this, 2 months. I'm trying to do it the smart way and not jump into it blindly with real money so I've been using a practice templet. I've learned quite a bit so far, but have not managed to lock in a comfortable "pattern" to follow. I started reading Trader Dales page yesterday and everyone is so supportive, especially to new people. Not to mention Dale, you seem to knock it out of the park more often then not. So I am now a member and following the "wizard" Dale....
Learning a system is like learning to drive a car, you can only learn so much from a textbook but taking it for a spin is another story. Just like in real life you may be able to control you own circumstances, it is the outside factors you cannot control. Trading is similar and many fail and give up and move onto the next system. This system and thread is a great starting point with the 4 pairs as Trader Dale points out in his levels. Once you get and idea of the dynamics how they created it can be expanded to other pairs. I currently apply this over 15 pairs now.

FWIW: I have seen along with developed systems (over 1500), this by far has the greatest accuracy. Cannot thank Trader Dale for shedding light on this aspect with Market Profile.

Just food for thought, I have yet to meet a successful trader that was profitable starting out. Everyone looses and I mean everyone, just learn how to be an "expert at loosing"

Good Luck
  • #2,495
  • Edited 11:02pm Dec 22, 2016 10:26pm | Edited 11:02pm
Quoting lKeithStone
I will never understand this way of thinking. ... Candles themselves could be considered indicators. We use candles to show us a graphical representation of price instead of looking at a wall of numbers. Candles make it easier for us to decipher the information. Footprint and Volume Profile help us do the same.
Not really. Volume is activity. Price bars/candles shows result of activity with OHLC....
  • #2,496
  • Dec 23, 2016 12:53am Dec 23, 2016 12:53am
Quoting ruma29
{quote} Not really. Volume is activity. Price bars/candles shows result of activity with OHLC....
I'm not sure what you are saying "not really" to? Is it "Candles themselves could be considered indicators", or are you saying Volume Profile and Footprint Charts do not make it easier to decipher what is happening within Candles?

DEFINITION of Volume Profile
Is an advanced charting study that displays trading activity over a specified time period at specified price levels. The study (accounting for user defined parameters such as number of rows and time period) plots a histogram on the chart meant to reveal dominant and/or significant price levels based on volume. Essentially, Volume Profile takes the total volume traded at a specific price level during the specified time period and divides the total volume into either buy volume or sell volume and then makes that information easily visible to the trader.

DEFINITION of Footprint Charts
A group of charts that provide price and volume activity together on one data point over a specified time frame. Footprint charts, provided by MarketDelta, attempt to provide traders with increased price transparency and a clearer picture of market activity, similar to that of a level II quote or depth-of-market order book.
BREAKING DOWN Footprint Charts -- The goal of the Footprint charts is to provide both volume and price data to the trader in one data point so that the eyes need to focus in only one place. It also allows traders to see "within" the price bar to provide more transparency over a traditional chart.
  • #2,497
  • Dec 23, 2016 1:49am Dec 23, 2016 1:49am
Quoting lKeithStone
{quote} I'm not sure what you are saying "not really" to? Is it "Candles themselves could be considered indicators", or are you saying Volume Profile and Footprint Charts do not make it easier to decipher what is happening within Candles?...
Here:
Quoting lKeithStone
I will never understand this way of thinking. ... Candles themselves could be considered indicators. We use candles to show us a graphical representation of price instead of looking at a wall of numbers. Candles make it easier for us to decipher the information. Footprint and Volume Profile help us do the same.
not really only price. Price contain market makers opinion about fundamentals, technical, natural disaster...war...etc expressed through activity(volume)...
I did not comment anything on volume profile and footprint...
  • #2,498
  • Dec 23, 2016 1:50am Dec 23, 2016 1:50am
Quoting tony1200
EU spiked higher than 12 pip SL,,,, win some lose some!
Based on my experience, I would recommend you not to rely on Asian Session for indication (I suspect you did)....
  • #2,499
  • Dec 23, 2016 2:57am Dec 23, 2016 2:57am
Quoting lKeithStone
{quote} I will never understand this way of thinking. Accuracy and timing is the name of the game. If you could improve your entries using tools that show you supply/demand levels to the pip. Why would you want to draw them blind? Footprint and Volume profile are more than "indicators", they reveal what is going on within the candle. They show imbalances of buying and selling. Candles themselves could be considered indicators. We use candles to show us a graphical representation of price instead of looking at a wall of numbers. Candles make it easier...
I quite understand your point,anyway,it boils down to whatever suits an individual .Am only trying to say that it can be done without other extra tools,that's if one can make do without them.I can never discount their usefulness too.
Cheers
  • #2,500
  • Dec 23, 2016 3:06am Dec 23, 2016 3:06am
Quoting tony1200
EU spiked higher than 12 pip SL,,,, win some lose some!
tony1200 which one are you talking about here ? which day and which TD's level...
Thx.
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