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Trader Dale - daily trading levels

  • #2,661
  • Jan 1, 2017 8:09am Jan 1, 2017 8:09am
Quoting XxixixX
{quote} Not worth arguing and going back and forth.
Of course not. The goal is to focus on TraderDale system and learn something useful from him. Unfortunately the thread was cluttered with bad ideas which in some way it makes TraderDale happy because it's obfuscating his system. He's smart and always agrees with anyone regarding any idea, good or bad. That doesn't help the rest of us. I think my posts help people become aware of the real system behind the levels and don't fall into the MP theory trap.

@ruma29
You may have noticed that Risk Surfer had an almost identical system two years ago because you posted in his thread. The system described didn't work back then and it doesn't work today.
TraderDale is very valuable for all of us. While he doesn't want to, why not learn from him as long as we can? Some day he might be selling courses for 5k$ or work for a hedge fund.
  • #2,662
  • Jan 1, 2017 9:30am Jan 1, 2017 9:30am
I am more interested in trading than dealing with bad attitudes.

Below is a chart from Risk_Surfer, isn't the setup identical with the one posted previously by swingtrade65? Brainstorming is a good activity.
Attached Image (click to enlarge)
Click to Enlarge Name: 1 (8).PNG Size: 166 KB
  • #2,663
  • Jan 1, 2017 9:44am Jan 1, 2017 9:44am
Quoting iamsovereign
{quote} I don't care who it was for-- This is a public forum-- answerer is the same.... work a little at it (A)
Yes this is a public forum, traders help each other here and answer questions with a clear statement instead of being sarcastic.

Anyway, Happy New year to you and to all.
  • #2,664
  • Jan 1, 2017 10:47am Jan 1, 2017 10:47am
Quoting mindspeculat
I am more interested in trading than dealing with bad attitudes. Below is a chart from Risk_Surfer, isn't the setup identical with the one posted previously by swingtrade65? Brainstorming is a good activity. {image}
You are correct in 2 areas. First, bad attitudes have no place in my world and I refuse to deal with them. Secondly, that chart looks a lot like the one that I posted. Trader Dale trades in a manner where accuracy is the critical component. I was simply posting charts that show how the areas he posts are obtainable with a couple of common tools and some time observing the markets. I do not trade in this manner, however, I use MP. In the final thoughts from my previous post, I stated that with observation one can see how markets move from POC to POC and use Value areas as a boundry until pressure builds to take it into a vertical move to the next VA and POC.

I think is a great thing that Dale has spurred thoughtful approaches to the market by many.

Many Pips
Plan, Prepare, Execute, Repeat
  • #2,665
  • Jan 1, 2017 1:22pm Jan 1, 2017 1:22pm
Quoting swingtrade65
{quote} You are correct in 2 areas. First, bad attitudes have no place in my world and I refuse to deal with them. Secondly, that chart looks a lot like the one that I posted. Trader Dale trades in a manner where accuracy is the critical component. I was simply posting charts that show how the areas he posts are obtainable with a couple of common tools and some time observing the markets. I do not trade in this manner, however, I use MP. In the final thoughts from my previous post, I stated that with observation one can see how markets move from...
Thank you. Your observation is very important, that TraderDale trades in a manner where accuracy is the critical component.
The question remains, how can such accurate levels be found? Finding POC reversal areas is very easy, but an area is not enough when we deal with 10 pips targets.
It is this critical component that makes the system successful, and that's the key we should focus on, which TraderDale doesn't want to talk about.
  • #2,666
  • Edited 4:31pm Jan 1, 2017 2:05pm | Edited 4:31pm
anyone took that
UC 1.3428 Long
UJ 116.72 long
on 30Dec friday?
I did
  • #2,667
  • Jan 1, 2017 2:24pm Jan 1, 2017 2:24pm
Quoting januszo
anyone took that UC 1.3428 Long UJ 116.13 short on 30Dec friday? I did
Hi Januszo,
What made you go short on UJ at 116.13?
Thanks
  • #2,668
  • Edited 5:05pm Jan 1, 2017 2:34pm | Edited 5:05pm
1.3430
  • #2,669
  • Jan 1, 2017 4:30pm Jan 1, 2017 4:30pm
Quoting KhalidY
{quote} Hi Januszo, What made you go short on UJ at 116.13? Thanks
That was my mistake about that UJ level, sorry ,
level I took was :UJ 116.72 not 73. and it was a long.
  • #2,670
  • Jan 1, 2017 6:30pm Jan 1, 2017 6:30pm
Quoting januszo
{quote} That was my mistake about that UJ level, sorry , level I took was :UJ 116.72 not 73. and it was a long.
Makes sense. Well Done.
  • #2,671
  • Jan 1, 2017 8:17pm Jan 1, 2017 8:17pm
For those of you interested... I highly recommend watching this webinar. FuturesTrader71 is a professional trader that has been using VP for years. He is full of wisdom regarding the subject, and this webinar is my favorite of his. I recommend watching some of his other Webinars/Videos as well.

https://www.youtube.com/watch?v=P0HSgU8lZVg
  • #2,672
  • Jan 2, 2017 2:42am Jan 2, 2017 2:42am
Quoting mindspeculat
{quote} That's correct. It's one of the hypothesis I tested, using previous high volume areas. Another hypothesis is the one describe by XxixixX, where you choose previous beginnings of strong moves. They both give you the illusion of a good sysSometimes it does work but over longer periods of time it does not beat a coin flip. A random system with 10/12 pips has a risk reward of 0.83 with a probability of 55% of winning and that's the result I got with a slight improvement in ranging markets. I know your charts look very convincing. It looks very...
What was your entry criteria on this back test and was it done manually? Also what was the sample size? and what was the trade management?

Also, did you account for news?
  • #2,673
  • Jan 2, 2017 3:49am Jan 2, 2017 3:49am
Quoting NaughtyPip
{quote} What was your entry criteria on this back test and was it done manually? Also what was the sample size? and what was the trade management? Also, did you account for news?
If this individual (http://www.forexfactory.com/mindspeculat) answer all your questions what are you going to do with answers?
  • #2,674
  • Jan 2, 2017 4:01am Jan 2, 2017 4:01am
Quoting ruma29
{quote} If this individual (http://www.forexfactory.com/mindspeculat) answer all your questions what are you going to do with answers?
not sure I understand your question
  • #2,675
  • Jan 2, 2017 4:18am Jan 2, 2017 4:18am
Quoting NaughtyPip
{quote} What was your entry criteria on this back test and was it done manually? Also what was the sample size? and what was the trade management? Also, did you account for news?
Thank you for your question. Before I answer, you might find it relevant to know something about my experience with market profile. Since lKeithStone mentioned FT71 I will tell you I was one of his first followers back in 2010. I talked with him a few times, he's very knowledgeable and a nice guy. He owned a prop shop back then. I recommend his webinars as well.

The backtesting was done manually, replaying charts bar by bar.
Each setup is marked on the chart then I review all hypothetical trades using different entries and exits to create statistics. Doing it this way allows testing faster different hypotheses.

Entry criterias tested:
- 1 pip ahead of POC
- Just before the high volume area
- The S/R line ahead of our area of interest as described by swingtrade65
- The beginning of the fast rejection which was also noticed by XxixixX
- Using fibonnacci tool, different measures of the area of interest, as 25% and 50% of the area, inside and outside.

Sample size:
500 samples in total, distributed as follows:
400 samples of futures contracts using random slices of time, for example June 2005 contract, September 2006 contract. I skipped 2008.
100 samples of daily charts using spot forex charts starting year 2000. As someone else mentioned you don't actually need volume/market profile or order flow to use the system. (I can prove in 2 minutes that TraderDale doesn't use volume or orderflow, but I prefer to not do it at the moment, he may use market profile )

Trade management:
- Fixed number of 10 pips for targets/stops. RR 1:1 makes it easier for statistics. 10/12 pips can be misleading.
- Exists using nearby areas of Low volume Node.
- Fixed number of pips with RR 1:1, 1:2, 1:3, 2:1, 3:1

Account for news:
Yes, I avoided all fast moves approaching the area of interest. I can't check the news 10 years ago so I find my method reasonable.
  • #2,676
  • Jan 2, 2017 4:25am Jan 2, 2017 4:25am
Quoting NaughtyPip
{quote} not sure I understand your question
you got answers from mindspeculant (http://www.forexfactory.com/mindspeculat) what are you going to do with them? how much these answers help your trading?
  • #2,677
  • Jan 2, 2017 4:28am Jan 2, 2017 4:28am
Quoting mindspeculat
{quote} Thank you for your question. Before I answer, you might find it relevant to know something about my experience with market profile. Since lKeithStone mentioned FT71 I will tell you I was one of his first followers back in 2010. I talked with him a few times, he's very knowledgeable and a nice guy. He owned a prop shop back then. I recommend his webinars as well. The backtesting was done manually, replaying charts bar by bar. Each setup is marked on the chart then I review all hypothetical trades using different entries and exits to create...
Did you disregard setups that turned 3 pips or more from the proposed entry point that moved for x pips or more? Did you do the test in 5 min/1 min chart to allow you to carry this out?
  • #2,678
  • Jan 2, 2017 4:52am Jan 2, 2017 4:52am
Hell.todays spreads are to wide to trade.
  • #2,679
  • Jan 2, 2017 4:53am Jan 2, 2017 4:53am
Quoting NaughtyPip
{quote} Did you disregard setups that turned 3 pips or more from the proposed entry point that moved for x pips or more? Did you do the test in 5 min/1 min chart to allow you to carry this out?
I did but I used only 15 minutes charts. It's true that the results would have been a little bit more accurate with 1 min charts. My focus was on the edge, if it's real and what is it. If an edge is present it should show itself disregarding various factors. Since TraderDale is reporting above 80% winners, my natural conclusion was to think that TraderDale finds his numbers in a different way since there is no consistent way to do that using the methods described. Guessing numbers ...anyone can do that but that's not enough for 80% wins.
  • #2,680
  • Jan 2, 2017 5:00am Jan 2, 2017 5:00am
How u detect current market sentiment


and dense SL areas that will be sl hunted?

Quoting NaughtyPip
{quote} Did you disregard setups that turned 3 pips or more from the proposed entry point that moved for x pips or more? Did you do the test in 5 min/1 min chart to allow you to carry this out?
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