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Trader Dale - daily trading levels

  • #3,501
  • Jan 13, 2017 3:57am Jan 13, 2017 3:57am
Quoting Jako
Hi guys - just wanted to share something really positive with you. I've started taking Dale's levels a week ago. In this time I have earned 86 pips which is much more than I've ever done. I would add that these have all been with preset orders - I do not have the ability or time to monitor my charts all day. This means I have had this success while still ignoring rules like if the level is tested to scrap the order and I've also been ignoring red news and speakers. I simply let the orders run until the following levels are published. (not that I...
Thats great! congratulations and thanks very much for your post!
  • #3,502
  • Jan 13, 2017 3:59am Jan 13, 2017 3:59am
Quoting ziggy
{quote} when the levels were put up yesterday they seemed a long way off, the accuracy of the levels you provide way way in advance of them becoming a possibility is quite frankly astonishing, I really hope that all who benefit realise just what they are being given - I know I do thanks Dale. I have my own way of trading which is particular to trading the stock indices, I have always tried to find a way of setting traps in forex trading but never really found a way that gave me the consistency I was looking for. You have totally transformed the...
Thanks very much mate! It is heartwarming to read that.
  • #3,503
  • Jan 13, 2017 4:14am Jan 13, 2017 4:14am
Dale I know a lot goes into creating your levels but am I right in noticing that when there is a cluster of price action which is part of creating a level that your line is drawn usually through the middle of the cluster rather than at the breakout or opposite edge? (Hope I've made some sense here....)
Always look for reasons not to take a trade
  • #3,504
  • Jan 13, 2017 4:15am Jan 13, 2017 4:15am
Quoting ziggy
{quote} when the levels were put up yesterday they seemed a long way off, the accuracy of the levels you provide way way in advance of them becoming a possibility is quite frankly astonishing, I really hope that all who benefit realise just what they are being given - I know I do thanks Dale. I have my own way of trading which is particular to trading the stock indices, I have always tried to find a way of setting traps in forex trading but never really found a way that gave me the consistency I was looking for. You have totally transformed the...
I agree, this method has simplified my old trading strategy, and also improved it significantly. I feel confident trading this on my own now. Thanks Dale, it is very generous what you have done here.

On a side note it would be good if we could discuss potential swing setups. Not asking Dale as he does enough, but if there were a few of us who felt confident, me included, we could get pairs on the radar in advance... Just a thought
  • #3,505
  • Jan 13, 2017 4:24am Jan 13, 2017 4:24am
Hello DALE , Ziggy and every body here.
I want to thanks you and everybody that is here for help and try to improve success not just for himself/herself , but for all.
this make me happy and make enjoy when I am here like a family.
  • #3,506
  • Jan 13, 2017 4:28am Jan 13, 2017 4:28am
Quoting Jako
Dale I know a lot goes into creating your levels but am I right in noticing that when there is a cluster of price action which is part of creating a level that your line is drawn usually through the middle of the cluster rather than at the breakout or opposite edge? (Hope I've made some sense here....)
Good job making this connection mate! You are rigt. It corresponds with market profile logic. The highest volume is in the cluster and that is usually the place I place my trades.
  • #3,507
  • Jan 13, 2017 4:32am Jan 13, 2017 4:32am
Hi everyone,
I am new here but have some experience in traiding.
Very impressed with this system, special thanks to Dale and Ziggy.
I will try 15/15 stop loss and take profit, will see how it goes :-)
  • #3,508
  • Jan 13, 2017 4:33am Jan 13, 2017 4:33am
Quoting ziggy
{quote} when the levels were put up yesterday they seemed a long way off, the accuracy of the levels you provide way way in advance of them becoming a possibility is quite frankly astonishing, I really hope that all who benefit realise just what they are being given - I know I do thanks Dale. I have my own way of trading which is particular to trading the stock indices, I have always tried to find a way of setting traps in forex trading but never really found a way that gave me the consistency I was looking for. You have totally transformed the...

I second that Ziggy. Thanks Dale.

I spent Wednesday working through the posted trades and making my own spreadsheet of results and profit. I've combined that with the comments you put in your sheet. I have now been able to use that information to quantify in terms of profit, the effect of news and prior tests on the profitability of Dales calls.

I have basically looked at every level which hit and looked at the maximum possible profit from that level until either an opposing trade was triggered or the trade would have been stopped out.

so for example: 10/01/2017 USDCAD short 1.3251 from Tuesday triggered, went 6 pips aginst before reversing and subsequently giving a maximum possible gain of 60 odd pips.
I've done a similar exercise for the maximum loss on each trade to see if the stop is optimum as well. And also to investigate whether a stop and reverse strategy could have legs.

knowing the most each trade could have made allows me to investigate the effect of changing the profit target .

What I have found is that using a 12-SL, the optimum TP is 23 pips but the best pip results overall appear to be with a 20-SL and 30-TP.

Most surprising of all is that, in most of the scenarios, trading major news increases the overall profit of the system, and this effect is larger when a larger TP is used.

avoiding trades which pre-test the level does improve profit. with the SL/TP levels above, the improvment is around 20%.

Because you can trade larger size with a 12-SL, I'm going to stick with that, but change my TP's to scale out at +23.
  • #3,509
  • Jan 13, 2017 4:43am Jan 13, 2017 4:43am
Quoting dietcoke
{quote} I second that Ziggy. Thanks Dale. I spent Wednesday working through the posted trades and making my own spreadsheet of results and profit. I've combined that with the comments you put in your sheet. I have now been able to use that information to quantify in terms of profit, the effect of news and prior tests on the profitability of Dales calls. I have basically looked at every level which hit and looked at the maximum possible profit from that level until either an opposing trade was triggered or the trade would have been stopped out. so...
excellent work. This was all checked on a 1 min chart right?
  • #3,510
  • Jan 13, 2017 4:44am Jan 13, 2017 4:44am
Did the EURUSD bus just leave without us?
Always look for reasons not to take a trade
  • #3,511
  • Jan 13, 2017 4:48am Jan 13, 2017 4:48am
Quoting dietcoke
{quote} I second that Ziggy. Thanks Dale. I spent Wednesday working through the posted trades and making my own spreadsheet of results and profit. I've combined that with the comments you put in your sheet. I have now been able to use that information to quantify in terms of profit, the effect of news and prior tests on the profitability of Dales calls. I have basically looked at every level which hit and looked at the maximum possible profit from that level until either an opposing trade was triggered or the trade would have been stopped out. so...
Good job! thanks very much! I will to go through my trades and look at it. How did you worked with your SL? Did you secure position in some way?
  • #3,512
  • Jan 13, 2017 4:56am Jan 13, 2017 4:56am
Quoting Jako
Did the EURUSD bus just leave without us?
i dont think it's considered as tested yet. My orders are still pending.
  • #3,513
  • Jan 13, 2017 5:12am Jan 13, 2017 5:12am
Quoting Trader-Dale
{quote} Good job! thanks very much! I will to go through my trades and look at it. How did you worked with your SL? Did you secure position in some way?
I've assumed BE if the TP does not get reached and the SL is not hit at the end of the day so there is some more detail to work through, but I don't think it impacts on the results very much.

What I didn't do was explicitly move the stop and see what happened. A number of trades did hit a profit point substantially more than 10 and then revers back to the entry point and then either carry on to be stopped or, reverse again for a bigger profit. I reckon its horses for courses(but much harder to trade emotionally)

TBH, I was going a bit crosseyed doing this. Having Ziggy's results proved a good way of finding any errors reading from the charts.
  • #3,514
  • Jan 13, 2017 5:12am Jan 13, 2017 5:12am
Quoting Jako
Did the EURUSD bus just leave without us?
here is how it looks on the 1 min chart, nothing to be spooked about so far
Attached Image (click to enlarge)
Click to Enlarge Name: 2017-01-13_1111.png Size: 43 KB
  • #3,515
  • Jan 13, 2017 5:13am Jan 13, 2017 5:13am
Quoting ziggy
{quote} here is how it looks on the 1 min chart, nothing to be spooked about so far2017-01-13_1111.png;2139076 {image}
As ever - thanks so much Ziggy
Always look for reasons not to take a trade
  • #3,516
  • Jan 13, 2017 5:21am Jan 13, 2017 5:21am
Thank you Ziggy.
  • #3,517
  • Jan 13, 2017 5:23am Jan 13, 2017 5:23am
Quoting dietcoke
{quote} I second that Ziggy. Thanks Dale. I spent Wednesday working through the posted trades and making my own spreadsheet of results and profit. I've combined that with the comments you put in your sheet. I have now been able to use that information to quantify in terms of profit, the effect of news and prior tests on the profitability of Dales calls. I have basically looked at every level which hit and looked at the maximum possible profit from that level until either an opposing trade was triggered or the trade would have been stopped out. so...
I concur with DC's findings, but am really mindful of back fixing which is why I am more than happy to trade at 20/20 ie a 1:1 RR. In actual fact simply increasing the stop to 21 on the past data makes a difference, but 20/20 seems a nice round approach for me. BTW - I'm not saying DC is trying to backfix!! Some of these do run on a long way and it would be nice to catch them, but I like to see my graph to be as close to a straight line bottom left to top right as I can make it, and for that I'll sacrifice extra pips for consistency
  • #3,518
  • Jan 13, 2017 5:27am Jan 13, 2017 5:27am
Looks like the EU boat has sailed
  • #3,519
  • Jan 13, 2017 5:29am Jan 13, 2017 5:29am
Quoting Jako
Did the EURUSD bus just leave without us?
Its no longer valid for me. Turned 1.5 pips too early and moved 8 pips.
  • #3,520
  • Jan 13, 2017 5:30am Jan 13, 2017 5:30am
Trains and boats and planes ... lol
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