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Trader Dale - daily trading levels

  • #2,541
  • Edited 9:39am Dec 27, 2016 9:29am | Edited 9:39am
Thanks michisuperfr & ruma29
one thing in ziggy's document. He uses the jargon 'Volume Profile' , which I will assume is the 'market profile'. correct ?
  • #2,542
  • Dec 27, 2016 9:33am Dec 27, 2016 9:33am
Quoting radaway
Thanks michisuperfr & ruma29 one thing on ziggy's document. He uses the jargon 'Volume Profile' , which I will assume is the 'market profile'. correct ?
no. It is different..and actually Trader-Dale said in some post market profile but on screen shots it is written VPSV (volume profile)...tradingview.com
  • #2,543
  • Dec 27, 2016 9:43am Dec 27, 2016 9:43am
ok, I am cool with all of these
the only one that remains now is :"Fine, the naked VPOC is touched. BUT now the question, will it go a Long OR Short from here. what and which factors give me this hint ?"

I know this one's tricky ..are the indicators (post # 1) enough to show me 'this' info
  • #2,544
  • Edited 10:38am Dec 27, 2016 10:19am | Edited 10:38am
Quoting radaway
ok, I am cool ..are the indicators (post # 1) enough to show me 'this' info
that is on you to conclude. for me content of this particular #1 is meaningless because it doesn't reflect how Trader-Dale trade and get information from market. He never described exact process of using VPSV ( volume profile, tradingview.com), order-flow ( ninja, unknown software for order-flow, refused to disclose ),
risk-reward tool (tradingview.com). He put bunch of staff on ziggy's (http://www.forexfactory.com/ziggy) suggestion to calm horde who requested it....nothing else, none of posted indicators is used by Trader-Dale.
  • #2,545
  • Dec 27, 2016 10:40am Dec 27, 2016 10:40am
Quoting ruma29
{quote} that is on you to conclude. for me content of this particular #1 is meaningless because it doesn't reflect how Trader-Dale trade and get information from market. He never described exact process of using VPSV ( volume profile, tradingview.com), order-flow ( ninja, unknown software for order-flow, refused to disclose ), risk-reward tool (tradingview.com). He put bunch of staff on ziggy's (http://www.forexfactory.com/ziggy) suggestion to calm horde who requested it....nothing else, none of posted indicators is used by Trader-Dale....
Trade Secret
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  • #2,546
  • Dec 27, 2016 11:22am Dec 27, 2016 11:22am
Quoting radaway
{quote} Trade Secret {image}
Nah...you can find here everything you need for the start. Dale explained already numerous times what he's doing and it nearly doesn't matter at all if you use Tradingview or MT4 as a platform, at least I didn't really see a big difference when I compared the levels from my MT4 with Dales or NinjaTrader with a futures data feed.

Quoting radaway
{quote} "Fine, the naked VPOC is touched. BUT now the question, will it go a Long OR Short from here. what and which factors give me this hint ?"
I don't wanna start and write what I look at because it's Dales thread and it should be about his approach but "normally" you look to counter trade around these levels. If I understood Dales approach correctly (Honestly I didn't read his explanations 100%) he looks for levels where high buying/selling volume occured, then waits till price tests this levels again and expects a reaction of at least 10 pips around these levels. Also I saw Dale using an Ask X Bid chart (You need a futures data feed for this and another platform: NinjaTrader or MarketDelta for example) to spot imbalances around these levels for more confirmation.
"Men Who Can Both Be Right & Sit Tight Are Uncommon" ~ Jesse Livermore
  • #2,547
  • Dec 27, 2016 11:32am Dec 27, 2016 11:32am
Is this contradictory:

Quoting michisuperfr
{quote} Nah...you can find here everything you need for the start. Dale explained already numerous times what he's doing ....

If I understood Dales approach correctly (Honestly I didn't read his explanations 100%) ...
If you did not read his explanation then how do you know that he explained it numerous times? ...

No. He never explained it.

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  • #2,548
  • Dec 27, 2016 11:39am Dec 27, 2016 11:39am
Quoting XxixixX
{quote} Here is what I am looking at over the next 24 hrs: aud/usd: [email protected] aud/jpy: [email protected] cad/jpy: [email protected] eur/aud: [email protected] eur/gbp: [email protected] eur/jpy: [email protected] eur/usd: [email protected] gbp/jpy: [email protected] gbp/usd: [email protected] nzd/usd: [email protected] nzd/jpy: [email protected] / [email protected] usd/chf: [email protected] usd/jpy: [email protected] usd/cad: [email protected] Only real news is USD (12/27/16); USD fundamentals are strong, so any negative deviation may play well into the usd based pairs. Looking to take 10 pip target / 12 pips stops based on lower trading volume and not looking to let trades run....
Update:

aud/jpy: +10
nzd/jpy: +10

Along with the earlier nzd/usd +10

+30 with levels today.

Markets have calmed down a lot since the release of USD data earlier today (nice number btw), so it hard to say if any other levels will be hit today.
  • #2,549
  • Edited 12:23pm Dec 27, 2016 12:08pm | Edited 12:23pm
Quoting januszo
{quote} Dude, if noone will opose this idea : Please provide to us analyses of NZDUSD levels on daily basis with monhly summary. This analysis saves our [~300 ppl!] time, quotes & firms your skills and test NZDUSD suitability for trading like this. -- Anyone is opposing?
It is posted in real time for all to see before price reaches that level. I know some traders struggle at understanding the levels at times and a few have asked via PM to see what I am looking at and compare and see if they are in the ballpark. Overall I have tested this setup with 100 trades on varies pairs. It fits my style and getting good results. If I did not think a pair was viable to trade within the dynamics of what Trader Dale has presented, I would not bother with that pair. The main 4 pairs that Trader Dale highlights are the most consistent. I trade several other pairs on top of based on the results I have seen and experienced in my own trading. You have the knowledge that has been presented, now it is time to gain the experience with due diligence.
  • #2,550
  • Dec 27, 2016 2:02pm Dec 27, 2016 2:02pm
Do people risk more % of account per trade using this methodology?
Average 100 Pips per month seems low for a 2% risk per trade.
  • #2,551
  • Dec 27, 2016 2:24pm Dec 27, 2016 2:24pm
Quoting dttsomh
Do people risk more % of account per trade using this methodology? Average 100 Pips per month seems low for a 2% risk per trade.
thats 10 net wins in a month...
  • #2,552
  • Dec 27, 2016 2:24pm Dec 27, 2016 2:24pm
+10 pips on UJ - short at 117.55 (22.12.2016 POC). Price went about 6 pips against me but finally turned back. By the way I risk only 1 % of my account as I am not confident enough with the levels.
  • #2,553
  • Dec 27, 2016 2:25pm Dec 27, 2016 2:25pm
Quoting Don96
just started taking a look at market profile and volume for an intra-day account --- i prefer shorts on EU at at the blue lines... Friday was a harder one to choose from.. range was low... POC is in the middle of all the range and the open of next trading day is likely to be very close to it... perhaps 1.0437 for a long? im not sure i need to read more on it the 1.0481 level came from 15th December a long with volume weighted average price just above it... my only problem with it is the stop loss being inside that high of 1.0498 level AU 0.7210...
EU missed tp by the spread at the moment....

GU conveniently stopped me at 1.2241 from 1.2253 entry
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  • #2,554
  • Dec 27, 2016 2:28pm Dec 27, 2016 2:28pm
Quoting Don96
{quote} thats 10 net wins in a month...
You say that meaning its too few ?
Because Dale hit 15 wins and 3 loses this month. And it was a good month I guess?
  • #2,555
  • Dec 27, 2016 2:29pm Dec 27, 2016 2:29pm
Quoting dttsomh
{quote} You say that meaning its too few ? Because Dale hit 15 wins and 3 loses this month. And it was a good month I guess?
yes so if you work it out at 2% per trade... then that is very good return?

you said 100 pips is low considering you are risking 2%?
  • #2,556
  • Dec 27, 2016 2:47pm Dec 27, 2016 2:47pm
Quoting Don96
{quote} that is very good return
You are actually right, my bad.
Cheers
  • #2,557
  • Dec 27, 2016 5:25pm Dec 27, 2016 5:25pm
Quoting XxixixX
{quote} Update: aud/jpy: +10 nzd/jpy: +10 Along with the earlier nzd/usd +10 +30 with levels today. Markets have calmed down a lot since the release of USD data earlier today (nice number btw), so it hard to say if any other levels will be hit today.
gbp/jpy: +10

+40 overall today, yen pairs played nice today
  • #2,558
  • Dec 27, 2016 5:38pm Dec 27, 2016 5:38pm
Quoting majrou666
+10 pips on UJ - short at 117.55 (22.12.2016 POC). Price went about 6 pips against me but finally turned back. By the way I risk only 1 % of my account as I am not confident enough with the levels.
Congrats on the trade, 1% is a good to risk (imho). The more you work with the levels, your confidence will grow as well. Most systems, people wait for confirmation however with the dynamics of the levels, you are stepping out before there is confirmation per say. By the time some traders decide to jump in after the turn we have already made profit and exited. Some of the best traders in the world make a ton a small trades.
  • #2,559
  • Dec 27, 2016 5:41pm Dec 27, 2016 5:41pm
Well Done Xx ... can I ask do you set some sort of alarm to watch all those pairs ? Sp
  • #2,560
  • Dec 27, 2016 5:59pm Dec 27, 2016 5:59pm
Quoting starpro
Well Done Xx ... can I ask do you set some sort of alarm to watch all those pairs ? Sp
At this point it is all manual, I want to make sure I understand all the dynamics of how things are setup with any system I use. Currently I just write down the levels and monitor prices from my phone as I am going about my day. Its old school however it is the best way I can learn the "ins and outs" of a system before starting to develop some processes to automate things. As time goes on I will utilize a line with an alert. If someone has one they can suggest, it would be much appreciated as I am sure others are thinking the same thing.
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