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Trader Dale - daily trading levels

  • #2,621
  • Dec 29, 2016 9:45pm Dec 29, 2016 9:45pm
nice....
subscribed
  • #2,622
  • Dec 29, 2016 9:46pm Dec 29, 2016 9:46pm
Quoting KhalidY
{quote} Hi, How did you get this level? Any reasons? Thanks
Crystal ball was off so I entered too late: intention was 1.3478(daily opening line from several days ago) but my spread is very high so ended up at 1.3481.

If i am lucky TP 1.3514, no SL for now
  • #2,623
  • Dec 29, 2016 10:14pm Dec 29, 2016 10:14pm
Quoting ruma29
{quote} Crystal ball was off so I entered too late: intention was 1.3478(daily opening line from several days ago) but my spread is very high so ended up at 1.3481. If i am lucky TP 1.3514, no SL for now
Thanks and good luck.
  • #2,624
  • Dec 29, 2016 11:17pm Dec 29, 2016 11:17pm
Quoting dragonexpert
{quote} Nice result, I'm currently build the same EA based on dale method, with accurate risk lots that calculate with sl and tp. Still build it in progress and trade only in brn. If you want to test it with 99.90% tick data, you can pm me.
thanks for the offer Dragon Number 1 , will be going live with it as my latest results at 90% quality exceeded my expectations. Trade Dale type resistance points are used as an entry option, improving overall system performance so the strategy is viable in my opinion.
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  • #2,625
  • Dec 30, 2016 2:03am Dec 30, 2016 2:03am
Quoting Pip-Miner
{quote} thanks for the offer Dragon Number 1 , will be going live with it as my latest results at 90% quality exceeded my expectations. Trade Dale type resistance points are used as an entry option, improving overall system performance so the strategy is viable in my opinion. {image}
Looks great. Would you be so kind to share your EA?
  • #2,626
  • Dec 30, 2016 3:16am Dec 30, 2016 3:16am
Quoting Pip-Miner
{quote} thanks for the offer Dragon Number 1 , will be going live with it as my latest results at 90% quality exceeded my expectations. Trade Dale type resistance points are used as an entry option, improving overall system performance so the strategy is viable in my opinion. {image}
I might be missing something (because I haven't used the MT4 strategy tester for a long time) but ... Is the 16432 trades generated against the 1967 H1 "bars in the test" a problem?
  • #2,627
  • Dec 30, 2016 3:28am Dec 30, 2016 3:28am
I picked 1,0558 level (short) on EU (61,8 % fibo level of today´s move). It missed my PT by spread so finished BE+1. Fibo levels 61,8 % and 50 % have worked pretty well for me lately.
  • #2,628
  • Edited 4:22am Dec 30, 2016 4:05am | Edited 4:22am
Dear readers....I have bad news for you.

First of all I appreciate and thank TraderDale for this thread. He has a good system but there is a catch.
I have reviewed all of the TraderDale's trades since September and the conclusion is clear:

TraderDale does not use the system he describes on this thread. He finds his levels in a different way.

He is smart and he protects his system and I understand him. So if you try to emulate his system with his rules you'll waste your time.
Yes, his levels are good but everything else is smoke and mirrors.

I am sure there are others who noticed that as well.
  • #2,629
  • Dec 30, 2016 4:25am Dec 30, 2016 4:25am
Quoting mindspeculat
Dear readers....
it was already said that he doesn't use any of indicators posted in #1...he did not disclosed anything. he is using volume profile (tw), risk-reward(tw), unknown software in ninja for order-flow(did not want to disclose which one exactly), anything else unknown...procedure unknown.
  • #2,630
  • Dec 30, 2016 4:43am Dec 30, 2016 4:43am
Quoting mindspeculat
Dear readers....I have bad news for you. First of all I appreciate and thank TraderDale for this thread. He has a good system but there is a catch. I have reviewed all of the TraderDale's trades since September and the conclusion is clear: TraderDale does not use the system he describes on this thread. He finds his levels in a different way. He is smart and he protects his system and I understand him. So if you try to emulate his system with his rules you'll waste your time. Yes, his levels are good but everything else is smoke and mirrors. I am...
To each their own, maybe you have not had very good results, some of us are having great results. The concept works however it is understandable that some struggle with it. If a trader is not familiar with Market Profile it can be hard to grasp. I studied the subject for years and never did have success with it until Trade Dale shed some light. With this "new found idea", did some due diligence and became pretty clear how he is seeing things.

It maybe true bits of information that Trader Dale keeps to himself. The fact he has shared insight (free of charge) into this concept is priceless. Do not make a blanket statement from your perspective. If you need proof from someone who has had success with the concept, review my postings.
  • #2,631
  • Edited 6:05am Dec 30, 2016 5:40am | Edited 6:05am
Quoting mindspeculat
Dear readers....I have bad news for you. First of all I appreciate and thank TraderDale for this thread. He has a good system but there is a catch. I have reviewed all of the TraderDale's trades since September and the conclusion is clear: TraderDale does not use the system he describes on this thread. He finds his levels in a different way. He is smart and he protects his system and I understand him. So if you try to emulate his system with his rules you'll waste your time. Yes, his levels are good but everything else is smoke and mirrors. I am...
Dude.Relax.
Read this thread again.
Check futures data. Check maybe for small additional fixtures mentioned here or there.
Add experienced trader attitude.[Expierience or say it at loud : expertise in given subject adds to a methodology some adhoc tricks that make whole process complicated and difficult to describe. Check it with yourself -with your current job daily work if u are a professional - try to explain why u did this or that when doing something. Why there are tons of stiff documentation that describe some procedures? Because some experts tried to explain and carve in stone/ put to paper their experiences. All of it for newbies is like smoke and mirrors,unneccessary&hard to grasp. IMHO - that's why there is no good documentation. ]

And here U go.
Good trader not necessarily must be a good teacher that fully and clearly explain what he is doing. For free.
--
Besides - look at
those guys who just presented EA with subset [maybe only one - POC and 12/10 SL-TP ?] of rules presented that at least at test run proved to work (actually we should wait for better test or live results to mention it since simulation @90% does not neccesairly work at small scalps ).
--
My true advice is just to observe all things posted , compare with yours and try guessing why. After a time u get there. Not by replicating Dale levels to the pip , but by being close or at least having positive P&L.
Rules are known.
Rest is You.
  • #2,632
  • Dec 30, 2016 5:56am Dec 30, 2016 5:56am
Dear Mind.
Please since three of us replied in some similar spirit please don't be/feel offended.
There are just our toughts slightly different views but from similar perspective.
Regards.
GL.
  • #2,633
  • Edited 6:22am Dec 30, 2016 6:07am | Edited 6:22am
In addition to this post (http://www.forexfactory.com/showthread.php?p=9391176#post9391176) and some other in past we all know that Trader-Dale has no obligation to disclose anything. Regardless if disclose is free or paid it doesn't guaranty success for some traders. Trading is about trader not indicators requires knowledge and experience which cannot be replaced with indicators. Losers always blame someone, something...

In attached picture you can see respectful trader made 500+ pips in several days without any indicator (no MP, no VP, order flow etc)....just knowledge about supply and demand, experience...

Everyone have successful 2017...
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  • #2,634
  • Dec 30, 2016 7:18am Dec 30, 2016 7:18am
What about EU sentiment?today's spike cleared shorts SLs.do we are bearish.correction is over?
  • #2,635
  • Dec 30, 2016 8:40am Dec 30, 2016 8:40am
@ruma29
TraderDale updated his #1 post with some rules to find his levels because of peer pressure, specifically TooSlow. I agree with TraderDale for keeping the system private. He had no choice but to repeat some general market profile/price action theory to make the crowd happy. The crowd is happy but TraderDale doesn't use volume profile or order flow to find his levels as described in the Ziggy's guide or anywhere in this thread.

@XxixixX
I have studied your levels. They were created as described by TraderDale in this thread. I have tested the methodology with quality bid/ask data provided by IQfeed using futures contracts starting since 2005. I used the most sophisticated software in terms of order flow and volume profile. The results are clear. Less than 55% winners with a RR 1:1. Don't increase your trading size yet, you might be wrong.

@januszo
Making people aware that TraderDale doesn't want to share his system it will keep the thread cleaner. Market profile theory is 50 years old. Jon Dalton and Peter Stadelmayer made their money selling books and courses.
The EA you mention is flawed for many reasons. Just look a little closer at the statistics.

What I said will save some people time and others money who might want to buy access to market/volume profile. He won't say it but TraderDale would agree.
  • #2,636
  • Dec 30, 2016 8:54am Dec 30, 2016 8:54am
Quoting mindspeculat
@ruma29 TraderDale updated his #1 post with some rules to find his levels because of peer pressure, specifically TooSlow. I agree with TraderDale for keeping the system private. He had no choice but to repeat some general market profile/price action theory to make the crowd happy. The crowd is happy but TraderDale doesn't use volume profile or order flow to find his levels as described in the Ziggy's guide or anywhere in this thread. @XxixixX I have studied your levels. They were created as described by TraderDale in this thread. I have tested the...
if you back tested his results you should be able to come up with how he figures his levels??? no?
after all ,,most traders r only 1 or 2 pips away from his levels
  • #2,637
  • Edited 10:30am Dec 30, 2016 10:19am | Edited 10:30am
Well it looks like @mindspeculat has cracked the code. All of this stuff is useless guys. TraderDale uses voodoo to find his levels.

Most if not all of the professional traders I know use some form of volume profile/footprint to find areas of interest. It's the most logical way to trade.

I had someone PM me asking what software I'm using. I use Sierra Chart which is the best IMO. Volume Profile and Footprint comes pre-installed unlike many other platforms. There is a learning curve, but their pricing is incredible for what you get.

Below are some tips from a professional trader:

SOME USES FOR ROTATIONS IN THE MARKET

NON BIAS TRADING RANGE - KEEPS YOU IN CHECK WHERE YOU CAN HAVE LITTLE NO NO BIAS UNTIL NEXT ROTATION IS ENTERED

https://2.bp.blogspot.com/-mTEQaZTCsb4/WCJQlEL-3eI/AAAAAAAAE1M/bWYNiafBq6chD2vkHv4mSp6gQHnPlOOywCLcB/s1600/2016-11-08_17-24.jpg

BUILDS AND DEVIATIONS FROM THE BUILDS- THE ROTATION OUT OF A BUILD IS A VERY HIGH % TARGET

https://1.bp.blogspot.com/-OgKR3tlPyPc/WCJSNcyA1fI/AAAAAAAAE1U/gNomr2b6PS0hnVsHsatkdnU2yyjAR8CXgCLcB/s1600/2016-11-08_17-31.jpg

AND MOST IMPORTANT IS - USING ROTATIONS FOR TRADE MANAGEMENT - BIG ROTATIONS FOR CORE POSITIONS AND SMALL ROTATIONS FOR SCALPING POSITIONS THIS WORKS ON ANY CHART ANY TIME FRAME IF DRAWN CORRECT !!!

https://4.bp.blogspot.com/-w3QqcOPDq-c/WCJT8317OyI/AAAAAAAAE1c/bWzaRu7IUQgIILvqQ3LfUUGc5o4lXAx0QCLcB/s1600/2016-11-08_17-38.jpg

THIS IS ONE OF MY FAVORITE THINGS IN MY TRADING , IT GIVES YOU A ROAD MAP OF PRICE MOVEMENT , THERE ARE A FEW MORE ADVANCED WAYS TO USE THIS BUT ILL KEEP IT SIMPLE ON HERE

FOOT PRINT CHART LAYOUT
2 CHARTS BOTH ETH
10 RANGE AND 25 RANGE NO GAP
RIGHT SIDE IS DEPTH OF MARKET
VOLUME DELTA ON BOTTOM
BAR VOLUME NUMBERED ABOVE THAT
LEFT VOLUME PROFILE WITH OVERLAY OF BID.ASK IMBAL
BARS ARE CODED TO A DIAGONAL IMBAL BASED ON AVG
LEVELS OF INTEREST ON THE CHART ARE :
HIGH OF DAY - YEST HIGH - LOW OF DAY - YEST LOW - OPEN AND CLOSE OF PRIOR DAY - OPEN OF CURRENT DAY - PREV VWAP- MONTHLY,WEEKLY, DAILY VWAP
- POC -VAL - VAH

10 Range
https://4.bp.blogspot.com/-yTqYOa0BtgY/VsIzHFIKqTI/AAAAAAAACeE/jy_NiUVa3d4/s1600/2016-02-15_15-20.jpg

25 Range
https://4.bp.blogspot.com/-PVFeny6lIJ4/VsI0FQHfIJI/AAAAAAAACeM/PhkNOuseUX4/s1600/2016-02-15_15-25.jpg

DIFFERENT TYPES OF BALANCE

PRICE BALANCE IS MOST IMPORTANCE TO ME , AS MARKET IS ALWAYS IN ROTATION , SO KNOWING WHERE NEXT ONE IS BEFORE IT GETS THERE IS CRUCIAL TO YOUR TRADE MANAGEMENT IMHO

https://4.bp.blogspot.com/-ZdyMK0zX6O0/VsIefRkqdfI/AAAAAAAACdk/LAKC7dE3onA/s1600/2016-02-15_13-35.jpg

VOLUME BALANCE IS VERY IMPORTANT IN THE AUCTION PROCESS AS IT BECOMES LOW,MID,HIGH OF THE VALUE

https://2.bp.blogspot.com/-ol22Z6V0En8/VsIeiJSZxkI/AAAAAAAACdo/R9YQRkf0QPk/s1600/2016-02-15_13-47.jpg

VWAP BALANCE IS VERY SIMILAR TO PRICE BALANCE AS THERE EQUAL SIDES DISTANCE FROM THE MEAN OF VOLUME

https://1.bp.blogspot.com/-BMjdg9RaYYk/VsIej5flWzI/AAAAAAAACds/Y3ITPjFRHH0/s1600/2016-02-15_13-41.jpg

VALUE AREA BALANCE ARE LESS ABOUT PRICE AND MORE ABOUT VALUE AS PRICE WILL REVERT AND MOVE ON FROM - EXCELLENT FOR STARTING BIGGER MOVES

https://3.bp.blogspot.com/-xfQF3UwA8zY/VsIelbpromI/AAAAAAAACdw/sPnGobaCZ_Q/s1600/2016-02-15_13-51.jpg

EXAMPLE OF A BUILD

IDENTIFY THE BUILD IN PROFILE , CONSISTS OF TRIANGLE SHAPE ON THE PROFILE WITH LOWER HIGHS AND HIGHER LOWS

https://2.bp.blogspot.com/-GzdUtmJp_jE/Vr-8EcSVS1I/AAAAAAAACc4/8vHAw4JIq2A/s1600/2016-02-13_18-14%25282%2529.jpg

IDENTIFY AREA WHERE SHORTS/LONGS ARE OVER LOADED , SO DOESN'T MEAN IT WONT GO SHORT BUT IF OFFER LIFTS THEY RUN OUT OF PEOPLE TO SELL TO AND THERE STOPS TRIGGER LONG PARTICIPATION

https://2.bp.blogspot.com/-F6T5tAy9yDI/Vr-8HjJ0_OI/AAAAAAAACc8/p10V-Ad97ng/s1600/2016-02-13_18-14.jpg

ONCE YOU IDENTIFY AREA OF SUPPORT AND PARTICIPATION TAKE THE TRADE ON A PULLBACK ENTRY , DO NOT BUY/SELL BREAKOUTS ON 1-3 TOP/BOTTOMS AS THESE ARE SETUP TO GATHER LIQUIDITY FOR MOVE (LIMIT PLACEMENT )

https://3.bp.blogspot.com/-IXg3yWt3QMA/Vr-8KoMj_EI/AAAAAAAACdA/4TF_-jyezlM/s1600/2016-02-13_18-21.jpg

TAKE SMART PROFIT AND IT COST NOTHING TO RE-LOAD MORE LONGS , NOW YOU HAVE CONFIRMATION ON ORDERFLOW OF SHORTS GETTING OUT AND LONGS BUYING INTO OFFER ( PASSIVE ORDERFLOW CONTROLS ALOT OF MOVEMENT ON MOMENTUM

https://2.bp.blogspot.com/-R9mY3K6QWPQ/Vr-8M3bnG5I/AAAAAAAACdE/zcJmVWUuuZk/s1600/2016-02-13_18-24.jpg

TAKE BULK OFF AT YOUR RISK LEVELS BUT AS FAR AS TARGETS GO , ROTATIONS FROM THE BUILD ARE VERY HIGH % , HALF ROTATION OFF THE BUILD GREEN BOXES - INTO 1 FULL ROTATION OFF THE BUILD AS DRAWN IN THE BLUE BOXES, AND PRICE WILL MOVE TO NEW LOCATION TO BUILD VALUE

https://1.bp.blogspot.com/-XUdWPivnDYQ/Vr-8OBh44LI/AAAAAAAACdI/YO5uLyQV1Uw/s1600/2016-02-13_18-27.jpg


Below are some examples of how I have my charts set up in Sierra Chart.
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  • #2,638
  • Dec 30, 2016 10:30am Dec 30, 2016 10:30am
Quoting tony1200
{quote} if you back tested his results you should be able to come up with how he figures his levels??? no? after all ,,most traders r only 1 or 2 pips away from his levels
No, I did not. The process is very time consuming and beside that my backtesting was done from a market profile/price action/order flow perspective. What if he uses a form of pivot points? Obfuscating a system makes the reverse engineering harder.

I am not sure about your second statement. Actually some people were surprised to see levels where there was no volume at all which didn't make sense.
You might find it interesting that the daily FXCM pivot points levels, sometimes are a few pips away from TraderDale's levels as well, that's doesn't make it statistically valid.
  • #2,639
  • Dec 30, 2016 10:34am Dec 30, 2016 10:34am
I think just posting the levels daily is a great contribution by Trader Dale. Let alone the things we learnt from him and getting positive results.

If he uses a different system or does not want to disclose his secret formula, is ok with me and a lot of other traders here.

Whats great is that we learn from here and try to make our own levels (and share) when he is not around.
  • #2,640
  • Dec 30, 2016 11:28am Dec 30, 2016 11:28am
One other thing I forgot to mention with Sierra Chart. You can draw custom profiles around areas of consolidation. This comes in handy when looking at specific areas for reversals.

Have a great weekend everyone.
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