Trader Dale - daily trading levels | Page 129 | 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

  • #2,561
  • Dec 27, 2016 8:42pm Dec 27, 2016 8:42pm
AU only got to .7208!!! ughhh
missed entry by a pip!!!
  • #2,562
  • Dec 27, 2016 8:59pm Dec 27, 2016 8:59pm
Some have asked "how do I determine the levels?" Quite simple 2 things I look for.

1. High volume area
2. Price action that "explodes" away from the volume area.

The attached chart shows in the real time aud/usd pair (ugg mised by a couple of pips). 1st. arrow is the combination of volume and "explosion" of price. 2nd arrow shows how price moved back into the area and has been rejected near the level.

Attached Image (click to enlarge)
Click to Enlarge Name: audusd.png Size: 33 KB


It is a matter of training your eyes to look for the opportunity.

As a side note not all trades will be winners, so manage each trade with minimal draw-down. I risk .5 - .75 (less than 1%) on my trades because I know I will have losses. I want to be able to trade another day
  • #2,563
  • Dec 27, 2016 11:09pm Dec 27, 2016 11:09pm
great advice xxixixx.thanks.
  • #2,564
  • Dec 27, 2016 11:54pm Dec 27, 2016 11:54pm
guys any levels for today??
  • #2,565
  • Dec 28, 2016 12:35am Dec 28, 2016 12:35am
Quoting XxixixX
{quote} 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.
If you are wanting an email when price reaches a certain level then CTrader has this function built in - maybe open a demo account with a CTrader provider? This site also looks like it will provide it for free but I've not used it : http://www.alertfx.com/

If you are after a SMS message for price alerts, you could open a demo account with Plus500 as they have an easy to set up SMS/Email alert function.
  • #2,566
  • Dec 28, 2016 3:59am Dec 28, 2016 3:59am
This is not a signal!
I am not an expert with market profile and for this level I used only composite profile:

Buy AUD/USD at 0.71860. Let's see!
Image (http://y55i.imgup.net/AUDUSDM30c7414.png)
Looking for profitable short term trades ...|
  • #2,567
  • Dec 28, 2016 4:05am Dec 28, 2016 4:05am
Quoting Js3mwtRc
This is not a signal! I am not an expert with market profile and for this level I used only composite profile: Buy AUD/USD at 0.71860. Let's see!
That is POC. maybe will be stopped at 0.7190.
  • #2,568
  • Dec 28, 2016 5:19am Dec 28, 2016 5:19am
Stopped out on AU. It looks like very strong move. The same is gonna happen on EU.
  • #2,569
  • Dec 28, 2016 5:23am Dec 28, 2016 5:23am
Quoting ruma29
{quote} That is POC. maybe will be stopped at 0.7190.
Stopped at 0.71760 with 10 pips + spread loss.
Looking for profitable short term trades ...|
  • #2,570
  • Dec 28, 2016 5:23am Dec 28, 2016 5:23am
i know this may seem like an obvious or stupid question persay BUT indulge me for a moment plz
which pair has the highest volatility / movement ... with the greatest predictability, YES i know eur/usd is the most highly trade but doesnt seem to move much .. some have told me gbp/jpy or usd/jpy ??? any thoughts ???
FXSLAYER
  • #2,571
  • Dec 28, 2016 5:24am Dec 28, 2016 5:24am
See a possible level at 1.0408 on eur/usd (hint: look back at what price did on 12/21/16). Also near a round number which adds to confluence along with low news day. Good Luck
  • #2,572
  • Dec 28, 2016 5:27am Dec 28, 2016 5:27am
I build an EA around trader Dave level methodology , so far looks promising turning 5000 to almost 100,000 ran for all of this year.
Attached Image (click to enlarge)
Click to Enlarge Name: phil.PNG Size: 152 KB
  • #2,573
  • Dec 28, 2016 5:32am Dec 28, 2016 5:32am
Quoting Js3mwtRc
{quote} Stopped at 0.71760 with 10 pips + spread loss.
Guys.
Look at poc & volume above avg & possible pivots nearby to be SL - hunted [see HappyMe indi posted here].
BTW what do ya thin k about AU sentiment? Bull Bear?

PS
also this is end of year so many market participants are absent.Corrections possibly too.
  • #2,574
  • Dec 28, 2016 5:36am Dec 28, 2016 5:36am
Quoting Pip-Miner
I build an EA around trader Dave level methodology , so far looks promising turning 5000 to almost 100,000 ran for all of this year. {image}
Be curious what the results on how it performs on other pairs. Did you set it to 10 pip targets and 12 pip stops?
  • #2,575
  • Dec 28, 2016 5:50am Dec 28, 2016 5:50am
Quoting Pip-Miner
I build an EA around trader Dave level methodology , so far looks promising turning 5000 to almost 100,000 ran for all of this year. {image}
i have run a few spreadsheets on potential profit from September to December trades - they do look promising - there is a 1% and 2% risk profile on them (also a 10% but this is for my own purposes - it is not recommended - very very small account)
  • #2,576
  • Dec 28, 2016 6:04am Dec 28, 2016 6:04am
Quoting Pip-Miner
I build an EA around trader Dave level methodology , so far looks promising turning 5000 to almost 100,000 ran for all of this year. {image}
gj
now buy tickstory and try tick by tick to have 99.90% simulation quality.then post us results. Also remember that some ticks are omitted by ea to pay attention while entering trade.
  • #2,577
  • Dec 28, 2016 6:24am Dec 28, 2016 6:24am
anyone having problems with mt4 platform ... either 6102 market profile OR tpo-range-v3 are the most likely causes slows down all actions considerably ...
  • #2,578
  • Dec 28, 2016 6:46am Dec 28, 2016 6:46am
Quoting fxproUSA
i know this may seem like an obvious or stupid question persay BUT indulge me for a moment plz which pair has the highest volatility / movement ... with the greatest predictability, YES i know eur/usd is the most highly trade but doesnt seem to move much .. some have told me gbp/jpy or usd/jpy ??? any thoughts ???
There are no stupid questions, imho gbpjpy offers the greatest volatility however if flops around alot so if you trade it widen your stops. Again just from my experiences trading it. The pairs that have the most consistently are the 4 pairs that Trader Dale post, imho.
  • #2,579
  • Dec 28, 2016 6:47am Dec 28, 2016 6:47am
Quoting XxixixX
See a possible level at 1.0408 on eur/usd (hint: look back at what price did on 12/21/16). Also near a round number which adds to confluence along with low news day. Good Luck
Stopped out for -12. Next bus please
  • #2,580
  • Dec 28, 2016 7:06am Dec 28, 2016 7:06am
Quoting Pip-Miner
I build an EA around trader Dave level methodology , so far looks promising turning 5000 to almost 100,000 ran for all of this year. {image}
Is this mainly using market profile? i don't understand how there were so many trades in one year?
So many in the Commercial section want to make me rich! :o
1 trader viewing now