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Trader Dale - daily trading levels

  • #2,761
  • Jan 3, 2017 2:29pm Jan 3, 2017 2:29pm
Quoting lKeithStone
{quote} That is correct.
That's awesome! Thanks
"Men Who Can Both Be Right & Sit Tight Are Uncommon" ~ Jesse Livermore
  • #2,762
  • Jan 3, 2017 3:13pm Jan 3, 2017 3:13pm
Quoting Trader-Dale
Get ready guys! We start tomorrow! Iam looking forward to it!
Welcome Back Terminator-Dale !
Attached Image
  • #2,763
  • Jan 3, 2017 3:30pm Jan 3, 2017 3:30pm
Quoting Trader-Dale
Get ready guys! ...
I am ready...just tell us where and what to shoot
Attached Image
  • #2,764
  • Edited Jan 4, 2017 1:10am Jan 3, 2017 3:50pm | Edited Jan 4, 2017 1:10am
Well.
My personal analysis results those 4 pairs hit 1 trade today :

EU 1.0393 long - SL
AU 0.7195 miss by 2 p

Overall (-) , anyway it was small risk,
just to gain confidence.


(edited)
  • #2,765
  • Jan 3, 2017 3:51pm Jan 3, 2017 3:51pm
Quoting radaway
{quote} I am ready...just tell us where and what to shoot {image}
it have 250 shell belt, nothing could possibly survive that suspender!
  • #2,766
  • Jan 3, 2017 3:54pm Jan 3, 2017 3:54pm
Quoting XxixixX
{quote} +10 target hit
Hi Xx, quick question, and you've probably answered it before but do you use the 5m or the 15m chart to do your trades?
  • #2,767
  • Jan 3, 2017 4:26pm Jan 3, 2017 4:26pm
As we begin...has anyone noticed to large fluctuation in spreads in the last few hours...some of those are huge! What gives?
  • #2,768
  • Jan 3, 2017 4:37pm Jan 3, 2017 4:37pm
Quoting lctrader11
As we begin...has anyone noticed to large fluctuation in spreads in the last few hours...some of those are huge! What gives?
market makers are lurking in this thread, have their conspiracy...this thread got attention on all levels...all participants (signal service users and providers) have to be aware of it.
  • #2,769
  • Jan 3, 2017 4:57pm Jan 3, 2017 4:57pm
Quoting burntcandle
{quote} Hi Xx, quick question, and you've probably answered it before but do you use the 5m or the 15m chart to do your trades?
30 minutes, anything less is too much noise for my likening.
  • #2,770
  • Edited 5:16pm Jan 3, 2017 5:06pm | Edited 5:16pm
Quoting richi69
{quote} hi januszo, could you please explain a bit how do you take this into consideration? does it mean that you don't enter the trade even if your strategy says long and sentiment is strong short? can you share some results where this actually saved you from the loosing trade? to be honest, I was checking sentiment some time ago and I didn't see any relation between successful trades and sentiment. Even for obvious trades the sentiment showed oposite (I took the trade anyway and it turned to profit). anyway, I would be happy to learn something...
At first :
I feel that im not a person here u shoud ask about market sentiment.[ask those with red diamonds ]
since im not a full time trader.

ill try to specify my point of view [and fortunately get some constructive critics/advice ]:

in this book "Daemon Goldsmith - Order Flow Trading for Fun and Profit" -
in order to estimate market sentiment
author advice is to check as many info as available about given market.

For me it is :
- day by day position of POC , 70% volume zone and volume distiribution - one belly or two: upper and lower belly
- big boys SL hunts - [ie hunting longs - positive sentiment - check HappyMe indi here]
- composite volume profile ->20,10,5 day - do bellies grow -> consolidation...
- weekly candle patterns,daily highs / lows
- check some 1 tier bank comments& recommendations - usually fundamental long term analysis, i like Morgan Stanley cowboys,I remember their november 2015 short on gbpjpy. Also some web portal guys [stooq] from time to time state the obvious for them - technical facts - since it is convienient & easy to find their analysis - that's why it is valuable for me.
Crunch all that..
  • #2,771
  • Jan 3, 2017 6:01pm Jan 3, 2017 6:01pm
Quoting XxixixX
{quote} 30 minutes, anything less is too much noise for my likening.
but once you enter a trade you use the 5 min chart correct? I believe that's what trader dale does?
  • #2,772
  • Jan 3, 2017 6:35pm Jan 3, 2017 6:35pm
Quoting XxixixX
{quote} 30 minutes, anything less is too much noise for my likening.
oh damn, okay. For some reason I was under the impression you (and Trader Dale) used the 5m. So with that, I'm assuming it really doesn't make much of a difference which time frame you use when TD posts his pairs, or when you or Ziggy do as well? Or am I way off base? Ty for this info....
  • #2,773
  • Jan 3, 2017 6:38pm Jan 3, 2017 6:38pm
Quoting tony1200
{quote} but once you enter a trade you use the 5 min chart correct? I believe that's what trader dale does?
So you watch the 30m, see it get to the entry level, then after your in you change to the 5m?
  • #2,774
  • Jan 3, 2017 7:05pm Jan 3, 2017 7:05pm
Quoting burntcandle
{quote} So you watch the 30m, see it get to the entry level, then after your in you change to the 5m?
I belive he showed a few trades on the 5 min chart after entry,,, but I can be mistaken
  • #2,775
  • Jan 3, 2017 7:35pm Jan 3, 2017 7:35pm
Quoting tony1200
{quote} I belive he showed a few trades on the 5 min chart after entry,,, but I can be mistaken
I think you're right, that's where I got the impression the "experienced" traders must use the 5m or 15m time frame.
  • #2,776
  • Jan 3, 2017 7:37pm Jan 3, 2017 7:37pm
Quoting tony1200
{quote} but once you enter a trade you use the 5 min chart correct? I believe that's what trader dale does?
This is where you may see some variances in trade management. Price is price and once a level is hit it does not matter unless you dial down to a smaller time frame and are looking for some price action as confirmation. Myself I do not want to wait based on many times price hits a level and bounces by the time the lower time frame offers confirmation, the bounce may already be in play.
  • #2,777
  • Jan 3, 2017 7:57pm Jan 3, 2017 7:57pm
Quoting XxixixX
{quote} This is where you may see some variances in trade management. Price is price and once a level is hit it does not matter unless you dial down to a smaller time frame and are looking for some price action as confirmation. Myself I do not want to wait based on many times price hits a level and bounces by the time the lower time frame offers confirmation, the bounce may already be in play.
Okay, that makes since, but would the 30m time frame be too, I guess, slow to catch price levels hitting and bouncing off of levels? I just don't want to miss a target price if it hits the target price on lets say the 5m time frame but then bounces off does not reflect it on the 30m. But at the same time, would that give maybe a false confirmation? Sorry for the confusion, just learning and want to make sure I don't do something stupid that I could avoid.

-I just read and re-read your explanation and think I understand it better now. Thanks Xx!!!!
  • #2,778
  • Jan 3, 2017 8:35pm Jan 3, 2017 8:35pm
Quoting burntcandle
{quote} Okay, that makes since, but would the 30m time frame be too, I guess, slow to catch price levels hitting and bouncing off of levels? I just don't want to miss a target price if it hits the target price on lets say the 5m time frame but then bounces off does not reflect it on the 30m. But at the same time, would that give maybe a false confirmation? Sorry for the confusion, just learning and want to make sure I don't do something stupid that I could avoid. -I just read and re-read your explanation and think I understand it better now. Thanks...
With as fast as this thread has grown it can be easy to get overwhelmed trying to make "sure all ducks are in a row" asking oneself these questions:
"Have I read all the pages and understand them fully?"
"What is this trader seeing vs. what another is seeing?"
"Am I following the right trader who seems to be making money with this?"
"Why am I losing when others are making pips?"
"Wow there is a lot of drama to this thread, ugg just muddle through it I guess"

I think you get the idea as this is the dynamics with most threads that tend to evolve over a period of time and this thread is no different.

For chart reading purposes I have tried to make things simple for myself, 30 min is a nice balance (enough noise and trends in the market place are evident). It also fits within the dynamics of Market Profile. I know some traders dial down to a lower time frame and have success with it. Keep in mind the lower the time frame you observe causes the brain to process more information. One can enter on a bullish candle on a 1 min and than the next candle the exact opposite direction occurs which in turn causes your brain to create self doubt and thus many times you exit the trade because of emotions which tend to cloud judgement in trade management.
There are many ways to trade a pip just have to find what suits your style.
  • #2,779
  • Jan 3, 2017 8:44pm Jan 3, 2017 8:44pm
Quoting Trader-Dale
Get ready guys! We start tomorrow! Iam looking forward to it!
Welcome back Dale. Hope you enjoyed your holidays.
Looking forward to trade with you sir.

KhalidY
  • #2,780
  • Jan 3, 2017 8:47pm Jan 3, 2017 8:47pm
Quoting XxixixX
{quote} With as fast as this thread has grown it can be easy to get overwhelmed trying to make "sure all ducks are in a row" asking oneself these questions: "Have I read all the pages and understand them fully?" "What is this trader seeing vs. what another is seeing?" "Am I following the right trader who seems to be making money with this?" "Why am I losing when others are making pips?" "Wow there is a lot of drama to this thread, ugg just muddle through it I guess" I think you get the idea as this is the dynamics with most threads that tend to...
Thank you so much. I hear what you're saying, and you're right on every aspect. Good advice once again. Btw, I'm watching your target .9737 aud/usd, it's getting close.
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