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Trader Dale - daily trading levels

  • #3,541
  • Jan 13, 2017 4:52am Jan 13, 2017 4:52am
EU level being hit again.....
Always look for reasons not to take a trade
  • #3,542
  • Jan 13, 2017 4:54am Jan 13, 2017 4:54am
Quoting ziggy
{quote} as I see it, spreading your risk in this way is a good way, but simply placing your entire order 1,2,3 pips early isn't
Hi Ziggy.
Do you think it would be a good idea to divide the order into 3. for example todays eur short at 1.0586. enter at 1.0585, 1.0586 and 1.0587?

Or is it a useless exercise?

Thanks for any feedback.
  • #3,543
  • Jan 13, 2017 4:55am Jan 13, 2017 4:55am
Jako are you manipulating EU?
This is just unbelievable...
Akif,
  • #3,544
  • Jan 13, 2017 4:55am Jan 13, 2017 4:55am
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...

Congratulations, well done going through this! I like the Idea of nearly 2:1 reward to risk. Over what period is this? One thing I would ask you to explain is : avoiding trades which pre-test the level does improve profit.
And with 20/30 combination, you say it is the best overall pip result - but is it the highest success percentage? If you risk a fixed amount on each trade, what you want to know is what percentage of trades will be successful and the reward to risk ratio. The actual pips are not so important. Would you share the success rate of 20/30 versus 12/23 please.
  • #3,545
  • Jan 13, 2017 4:57am Jan 13, 2017 4:57am
Quoting akift
Jako are you manipulating EU? This is just unbelievable... Akif,
Lol
Always look for reasons not to take a trade
  • #3,546
  • Jan 13, 2017 4:58am Jan 13, 2017 4:58am
I am considering I am psychic! The EU went exactly to 1.06587 which is what I set my limit order to - a tad below the level.
  • #3,547
  • Jan 13, 2017 4:58am Jan 13, 2017 4:58am
Missed that EU boat again by 0.3 pips ....
Always look for reasons not to take a trade
  • #3,548
  • Jan 13, 2017 5:01am Jan 13, 2017 5:01am
Quoting Jako
My (admittedly inexperienced and untrained) eye tells me the EU boat is coming back still and may then set sail aggressively
erm...looks like I was right
Always look for reasons not to take a trade
  • #3,549
  • Jan 13, 2017 5:01am Jan 13, 2017 5:01am
Quoting Jako
Missed that EU boat again by 0.3 pips ....
Too bad man.
This time I'd remove that limit order for sure

Akif,
  • #3,550
  • Jan 13, 2017 5:02am Jan 13, 2017 5:02am
Quoting Nicolaas82
{quote} Hi Ziggy. Do you think it would be a good idea to divide the order into 3. for example todays eur short at 1.0586. enter at 1.0585, 1.0586 and 1.0587? Or is it a useless exercise? Thanks for any feedback.
Today's long is at that level. By the way, there used to be someone on this thread who did exactly what you say.
  • #3,551
  • Jan 13, 2017 5:05am Jan 13, 2017 5:05am
Quoting akift
{quote} Too bad man. This time I'd remove that limit order for sure Akif,
Well I'm at the mooment testing out what happens if we just leave all orders in place ignoring retests etc. And she returns yet again.....
Always look for reasons not to take a trade
  • #3,552
  • Jan 13, 2017 5:08am Jan 13, 2017 5:08am
Quoting Nicolaas82
{quote} Hi Ziggy. Do you think it would be a good idea to divide the order into 3. for example todays eur short at 1.0586. enter at 1.0585, 1.0586 and 1.0587? Or is it a useless exercise? Thanks for any feedback.
If you can spread your trade in that way it seems perfectly logical to me, I prefer the simplicity of either being in the trade or not, but plenty of extremely successful traders scale into their trades
  • #3,553
  • Jan 13, 2017 5:11am Jan 13, 2017 5:11am
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  • #3,554
  • Jan 13, 2017 5:11am Jan 13, 2017 5:11am
UJ level has great potential imo for a big move up... Annoying thing is looks like wont be able to take it because of news.
  • #3,555
  • Jan 13, 2017 5:24am Jan 13, 2017 5:24am
well I'm in and my stop is BE, if it gets +10 pre news I'll take it otherwise I'm gonna let it play +20 or zero

edit - out at +10
  • #3,556
  • Jan 13, 2017 5:26am Jan 13, 2017 5:26am
News coming, got out with partial profits on USD/JPY .

This has been a really great week. Thanks Dale!
  • #3,557
  • Jan 13, 2017 5:28am Jan 13, 2017 5:28am
Quoting ziggy
well I'm in and my stop is BE, if it gets +10 pre news I'll take it otherwise I'm gonna let it play +20 or zero edit - out at +10
Same here in the trade stop to be tp 20 pips

Update stopped at be on the spike down
  • #3,558
  • Jan 13, 2017 5:28am Jan 13, 2017 5:28am
UJ out at +10.5 Thanks Dale.
  • #3,559
  • Jan 13, 2017 5:31am Jan 13, 2017 5:31am
The pairs are going crazy right now
  • #3,560
  • Jan 13, 2017 5:34am Jan 13, 2017 5:34am
I so hope nobody took a 12 pip loss on that one, that would be a bit of a body blow. Happy with my decision to take 10 pre news, could just have easily gone the other way
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