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Trader Dale - daily trading levels

  • #4,301
  • Jan 25, 2017 11:56am Jan 25, 2017 11:56am
Quoting sevan62
What a pretty thread from a generous experienced trader! Happy to join! Thanks Dale. Below is my small contribution. It is DaleTM EA. (TM means Trade Manager). Being a programmer and being limited in time to babysit each trade I have developed it it manage Dale's levels, open/close deals, activate and discard significant levels. I hope this EA would help you to save some time and nerves and earns a couple of green pips. Please read pdf EA manual. tr1.png;2155822 tr2.png;2155827 Tested2.png;2155833 EAinputs.gif;2155805 P.S. I invite...
Hey Sevan thanks for this great tool. Would you give it the all clear for trading live or could there still be some errors..?
  • #4,302
  • Jan 25, 2017 12:16pm Jan 25, 2017 12:16pm
Quoting kk100
{quote} I recommend follow Dale, and read his posts.
I have been following Dale for almost a week now. It has significantly improved my trading especially since I am a newbie.
Carpe Diem
  • #4,303
  • Edited 12:47pm Jan 25, 2017 12:23pm | Edited 12:47pm
Quoting NaughtyPip
{quote} Hey Sevan thanks for this great tool. Would you give it the all clear for trading live or could there still be some errors..?
Hi NaughtyPip,
Sorry mate but I can not guarantee that EA is free from bugs though I've tested it in MT4 strategy tester and on Demo and Live account with micro lots. You should better start on Demo imho.

Quoting Cane321
Quoting sevan62
What a pretty thread from a generous experienced trader! Happy to join! Thanks Dale. Below is my small contribution. It is DaleTM EA. Sevan could you please check the attached file: https://www.screencast.com/t/vX6J1H6QikU
According to your chart:
1. Lot size of opened trade may be changed (reduced) in only one situation. It is partial close.
2. You may check what has happened in MT4 Log and Experts Log.
3. There is no smiling EA face on your chart.
4. You may control each opened and closed deal in your MT4 terminal if it is opened by DaleTM EA. This EA places comments which are displayed in Comment field of your MT4 terminal. Activate this field and you will see comments. All the deals opened with DaleTM EA have Magic Number and could be identified with it.
Attached Image (click to enlarge)
Click to Enlarge Name: Выделение_059.png Size: 105 KB

Hope to help you.
BR, alex
  • #4,304
  • Jan 25, 2017 1:19pm Jan 25, 2017 1:19pm
Hi sevan, may I ask for explanation regarding EA? I tried it on demo a and set Points to correct at -10 (sell trade). But the trade was open 10 pips higher instead of 1 pip (10 points). Did I set it correctly? Thank you.
Attached Image (click to enlarge)
Click to Enlarge Name: Dale EA.png Size: 78 KB
  • #4,305
  • Jan 25, 2017 2:07pm Jan 25, 2017 2:07pm
Dale,

Quick question about EURGBP swing long level.
What is the reason behind choosing 0.8544 instead of 0.8430?
To my newbie eye, it looks like a stronger candidate.
Is this because not missing the opportunity?
Thanks in advance.
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPDaily.png Size: 49 KB


Akif,
  • #4,306
  • Jan 25, 2017 5:54pm Jan 25, 2017 5:54pm
Quoting sevan62
{quote} Hi NaughtyPip, Sorry mate but I can not guarantee that EA is free from bugs though I've tested it in MT4 strategy tester and on Demo and Live account with micro lots. You should better start on Demo imho. {quote}{quote} According to your chart: 1. Lot size of opened trade may be changed (reduced) in only one situation. It is partial close. 2. You may check what has happened in MT4 Log and Experts Log. 3. There is no smiling EA face on your chart. 4. You may control each opened and closed deal in your MT4 terminal if it is opened by DaleTM...
Thank you Sevan for the clarifications
  • #4,307
  • Jan 25, 2017 11:41pm Jan 25, 2017 11:41pm
Intraday levels for 26.1.2017
I use PT 10 pips, SL 12 pips.
Happy trading
*Basic rules about trading my levels and some mt4 indicators are here:
http://www.forexfactory.com/showthread.php?p=9162014#post9162014
Attached Image

Attached Image (click to enlarge)
Click to Enlarge Name: 26.1. print.png Size: 253 KB
  • #4,308
  • Jan 26, 2017 12:01am Jan 26, 2017 12:01am
Quoting akift
Dale, Quick question about EURGBP swing long level. What is the reason behind choosing 0.8544 instead of 0.8430? To my newbie eye, it looks like a stronger candidate. Is this because not missing the opportunity? Thanks in advance. EURGBPDaily.png;2156524 Akif, {image}
FXCM yearly composite volume has got bigger volume at 8544. Also I like price action more there.
8430 is also good. I may consider it when my level ended PT/SL.
  • #4,309
  • Jan 26, 2017 12:17am Jan 26, 2017 12:17am
Quoting Trader-Dale
Intraday levels for 26.1.2017 I use PT 10 pips, SL 12 pips. Happy trading *Basic rules about trading my levels and some mt4 indicators are here: http://www.forexfactory.com/showthread.php?p=9162014#post9162014 {image} {image} {image} {image}

Dale,

The UJ chart appears to be highlighting a different level at 114.37. Which is the correct one?
  • #4,310
  • Jan 26, 2017 12:32am Jan 26, 2017 12:32am
Quoting Trader-Dale
{quote} FXCM yearly composite volume has got bigger volume at 8544. Also I like price action more there. 8430 is also good. I may consider it when my level ended PT/SL.
Hi Dale, with regards to the EURGBP swing...
I know you have outlined your rules around macro news. You mentioned that you are leaving swings open unless it is news from central banks or (other) very important news. Is today's GDP of GB such an important one or do you leave the swing running?
More general, what is the time you wait after macro news? Is there a fixed time you wait or is it that you wait until a reaction has happened / volatility has normalized? And is that different with intraday levels vs. swings?
Thanks Dale
  • #4,311
  • Jan 26, 2017 12:35am Jan 26, 2017 12:35am
Quoting dietcoke
{quote} Dale, The UJ chart appears to be highlighting a different level at 114.37. Which is the correct one?
Damn. sorry about that and thanks very much for noticing mate! If there is a mistake it is always in the picture. The table is correct. The correct level is 114.93.
  • #4,312
  • Jan 26, 2017 12:38am Jan 26, 2017 12:38am
Quoting HemDir
{quote} Hi Dale, with regards to the EURGBP swing... I know you have outlined your rules around macro news. You mentioned that you are leaving swings open unless it is news from central banks or (other) very important news. Is today's GDP of GB such an important one or do you leave the swing running? More general, what is the time you wait after macro news? Is there a fixed time you wait or is it that you wait until a reaction has happened / volatility has normalized? And is that different with intraday levels vs. swings? Thanks Dale
Thanks for great question. By central bank news I meant mostly Rate decisions so gdp, CPI etc. is ok to trade with swings. I wait until volatility subsides generally speaking (this rule is not carved in stone but in 80 % I use it). It is quite the same with swings and intraday.
  • #4,313
  • Jan 26, 2017 12:40am Jan 26, 2017 12:40am
EU I saw one level ealier, while waiting Dale's exact levels.
for me this is alternative entry. and i verify these with sup/dem lines too.
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  • #4,314
  • Jan 26, 2017 1:01am Jan 26, 2017 1:01am
Hi all. With EU ranging and public holiday in Oz I have kept away from EU and AU long. I have gone for the short trades with current market strength in mind. Anyone agree that is a good approach? Am still learning :-)
Take 1 step forward, two small steps back
  • #4,315
  • Jan 26, 2017 1:09am Jan 26, 2017 1:09am
There is a good new level on usd/jpy. Can you guys find it? Write it here Iam curious!
  • #4,316
  • Jan 26, 2017 1:13am Jan 26, 2017 1:13am
Quoting Trader-Dale
There is a good new level on usd/jpy. Can you guys find it? Write it here Iam curious!
113.35
  • #4,317
  • Jan 26, 2017 1:15am Jan 26, 2017 1:15am
I'd say 113.36, but with the current VPOC on my chart at 113.34 I'd probably use 113.34

edit - and as my chart is showing the sell price I'd up it 1 pip to 113.35, or just do what XxixixX says
  • #4,318
  • Jan 26, 2017 1:18am Jan 26, 2017 1:18am
Shorted UJ my alt level, while waiting your levels.
Attached Image
  • #4,319
  • Jan 26, 2017 1:30am Jan 26, 2017 1:30am
Quoting kk100
Shorted UJ my alt level, while waiting your levels. {image}
Hi KK, on your chart you appear to be running your profile from 0800 UK time yesterday, is that because you saw that as the beginning of a congestion zone around that time, or do you just start all your daily profiles at the UK open time?

Are you basically selling at the VAH of this profile or do you have some other magic? I can see you are an experienced trader & I'm a sponge for knowledge, even if I'm not always able to make best use of it
  • #4,320
  • Jan 26, 2017 1:34am Jan 26, 2017 1:34am
Quoting Trader-Dale
There is a good new level on usd/jpy. Can you guys find it? Write it here Iam curious!
113.543
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