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Trader Dale - daily trading levels

  • #4,721
  • Jan 31, 2017 2:25pm Jan 31, 2017 2:25pm
Quoting radaway
Couple of things I wanted to ask on the sevan62 EA 1) once the levels have been inputted, both the specific chart & MT4 need to be constantly ON , correct? if I switch off the PC or close the charts, the settings(levels) are gone too ? If yes, this would mean the PC needs to be on 24 X 7 ? 2) Mostly , the indicators need to be dragged on to the chart to let them do their stuff. but the 'FFCal_DV_150715' just needs to be there on the left hand tree view. No dragging to the chart is required ..right ? Thanks {image}
Based on what I've just done -

1. Yes MT4 needs to be running so your PC needs to stay on.
2. FFCal is also dragged into the chart - it will display the next news events top right.
  • #4,722
  • Jan 31, 2017 2:31pm Jan 31, 2017 2:31pm
Quoting Derinahon
{quote} Based on what I've just done - 1. Yes MT4 needs to be running so your PC needs to stay on. 2. FFCal is also dragged into the chart - it will display the next news events top right.
Thanks Derinahon

there is just 1 more edit on the initial post. could I have that too

edit: I got that, the smily will do it . Thx.
  • #4,723
  • Jan 31, 2017 2:35pm Jan 31, 2017 2:35pm
Quoting radaway
{quote} Thanks Derinahon there is just 1 more edit on the initial post. could I have that too edit: I got that, the smily will do it . Thx.
No worries

3. Right click the chart > Expert Advisors > Properties
  • #4,724
  • Jan 31, 2017 2:38pm Jan 31, 2017 2:38pm
Quoting radaway
Couple of things I wanted to ask on the sevan62 EA
1) once the levels have been inputted, both the specific chart & MT4 need to be constantly ON , correct? if I switch off the PC or close the charts, the settings(levels) are gone too ? If yes, this would mean the PC needs to be on 24 X 7 ?
2) Mostly , the indicators need to be dragged on to the chart to let them do their stuff. but the 'FFCal_DV_150715' just needs to be there on the left hand tree view. No dragging to the chart is required ..right ?
3) & how does one modify the EA ,once it has been...
I'd answer these questions but get me right please. I don't want to clutter this amazing thread with newbie questions about using EA. 95% answers may be easily found in google or by pressing F1 in MT4. So the answers:

  1. Yes. And do not change TF of this chart. Yes, 24x7 or rent VPS. Find all about VPS and EA in google please.
  2. Right. I've written in each my post when uploading EA: "FFCal indicator should be placed in Metatrader4\MQL4\Indicators folder." Nothing more.
  3. You can not modify EA. You may only change its settings. You may change them (and it is the better way) without reinitialization EA by pressing F7.

Stay green buddy.

Quoting Derinahon
{quote} 2. FFCal is also dragged into the chart - it will display the next news events top right.
There is no need to do drag it into the chart - EA doesn't need it. It needs this indi to be present in Metatrader4\MQL4\Indicators folder to call it from time to time. Of course you may attach it to the chart also in case you need visualization.
BR, alex
  • #4,725
  • Jan 31, 2017 2:38pm Jan 31, 2017 2:38pm
Quoting Trader-Dale
{quote} Iam also more than satisfied with my +10 pips. This trade was really tough one to hold to the end. For everybody who didnt trade it - It was totally ok not to trade it. Have lok at fxcm data . The level was tested and made +9 pips so if you get filled it was best to secure your position and take BE. If you didn't get filled it was ok not to take it. futures data were a bit different and since it was strong POC level I took a bit of a risk and took the trade and hold it around 3 hours until now. usdcad ilustration.png;2164828 Me: usdcad dale.png;2164826...
Thanks Dale, I actually had a limit order on then went into a 2 hour meeting and forgot about it! :-)
Take 1 step forward, two small steps back
  • #4,726
  • Jan 31, 2017 2:42pm Jan 31, 2017 2:42pm
Quoting sevan62
{quote} I'd answer these questions but get me right please. I don't want to clutter this amazing thread with newbie questions about using EA. 95% answers may be easily found in google or by pressing F1 in MT4. So the answers: Yes. And do not change TF of this chart. Yes, 24x7 or rent VPS. Find all about VPS in google please. Right. I've written in each my post when uploading EA: "FFCal indicator should be placed in Metatrader4\MQL4\Indicators folder." Nothing more. You can not modify EA. You may only change its settings. You may change them (and...
nope, wont clutter the thread.
one last Q: can the PC go to 'sleep' mode

just a Y or N will suffice.

Thx.
  • #4,727
  • Jan 31, 2017 2:43pm Jan 31, 2017 2:43pm
Quoting Trader-Dale
{quote} We are now in quite long rotation and there is high risk of the market shooting either down or up probably ignoring any close intraday levels in its way.
What is it : market rotation -a wave?
Is it when market change its wave length [main timescale ] it does without any corrections shoot up or down?
  • #4,728
  • Jan 31, 2017 2:45pm Jan 31, 2017 2:45pm
Quoting radaway
To All Guys & Dale too Yesterday there was a Monster Move & I got sucked into it . This is the 2nd time I got rogered with a monster move in short time I was looking @ the forum(my bad- hindsight) rather than the chart as I like to pick my status from the forum. I have yet to move over to MT4 & use the EA, but could folks here maybe announce the 'Monster Moves' on the forum so that people stay away from the complete annihilation.. I mean just a one-liner wud suffice. something like 'MM-coming'...
I keep an eye on a couple of sites that regularly post Forex Strength and also limit myself to specific times of the day to look at entering a trade like UK lunchtime. You can generally see a shift coming when the strength starts widely swinging with the candles drawing in tight but unfortunately the news at the moment is way too unpredictable! Today I caught the tail end of a couple of good scalps on big moves and one not so good one where I put too tight an SL on. And this is really my view of caution I apply to looking to enter a trade.
Take 1 step forward, two small steps back
  • #4,729
  • Jan 31, 2017 3:49pm Jan 31, 2017 3:49pm
Quoting ziggy
Several times it has been asked about the validity of keeping the levels in place over several days, we have had a case this afternoon, Dale was asked this morning about why he had left off certain levels and gave his reasoning, a short on AU at 0.7590 was one of them. I wasn't here most of the morning and came back to see the impact or DT's currency comments, but I was still keen to try the aussie level as it seemed pretty solid, well it wouldn't have survived a 12 pip stop but did survive a 20 pip stop, was open for ages but has just given me...
snap Ziggy. I took this on a 20/13. The aussie didn't seem to have as much momentum as he others so it seemed a reasonable risk

I also used your analysis method to identify a long which collected 7 pips when it came back to this mornings consolidation at 0.7576

So many thanks for those insights
  • #4,730
  • Jan 31, 2017 3:57pm Jan 31, 2017 3:57pm
Quoting radaway
{quote} nope, wont clutter the thread. one last Q: can the PC go to 'sleep' mode just a Y or N will suffice. Thx.
when your computer is in sleep mode it is effectively switched off, so no software or operations are running, including mt4 or the ea. You need to set your computer so that it does not go into sleep mode
  • #4,731
  • Jan 31, 2017 4:04pm Jan 31, 2017 4:04pm
Quoting sevan62
{quote} I'd answer these questions but get me right please. I don't want to clutter this amazing thread with newbie questions about using EA. 95% answers may be easily found in google or by pressing F1 in MT4. So the answers: Yes. And do not change TF of this chart. Yes, 24x7 or rent VPS. Find all about VPS and EA in google please. Right. I've written in each my post when uploading EA: "FFCal indicator should be placed in Metatrader4\MQL4\Indicators folder." Nothing more. You can not modify EA. You may only change its settings. You may change them...

Sevan,

You can overcome the requirement to keep the ea running by storing the current status of each level as a global variable. The running state could then be loaded back when the EA initialises on, for example, a TF switch.

eg, if a pair has tested a level today, store a GV which records that fact and saves it between restarts.
  • #4,732
  • Jan 31, 2017 4:26pm Jan 31, 2017 4:26pm
Quoting ziggy
Morning all, I won't be around much today as I have a personal matter that I must take care of. I've attached a word doc regarding how you might use Akif's lovely profile tool to help you find levels - this is for anyone who might be struggling to find levels themselves, but is not a substitute for using Dales levels. Cheers ZiggyLevel Finding.docx;2164410 {file}
Have had a good read of your doc Ziggy and great summary. Am giving it a go on UJ tonight where I think it is going to bounce off of 113.72.
Take 1 step forward, two small steps back
  • #4,733
  • Jan 31, 2017 5:24pm Jan 31, 2017 5:24pm
Quoting dietcoke
{quote} Sevan, You can overcome the requirement to keep the ea running by storing the current status of each level as a global variable. The running state could then be loaded back when the EA initialises on, for example, a TF switch. eg, if a pair has tested a level today, store a GV which records that fact and saves it between restarts.
Thanks for the hint mate.
But beside tested levels events EA has some static variables and other things which logic becomes broken after EA reinitialization. Of course there are solutions for each case but I prefer the simplest and the safest. What is more imho this thread is not the right place to discuss coding as it is not interesting for other visitors.
All the best for you.
BR, alex
  • #4,734
  • Jan 31, 2017 6:29pm Jan 31, 2017 6:29pm
Levels on a couple of different pairs

GBPCAD: Sell 1.6505
GBPUSD: Buy 1.2506 // Sell 1.2660
AUDCAD: Sell .9927
EURAUD: Buy 1.4194
Plan, Prepare, Execute, Repeat
  • #4,735
  • Jan 31, 2017 6:33pm Jan 31, 2017 6:33pm
Quoting swingtrade65
Levels on a couple of different pairs GBPCAD: Sell 1.6505 GBPUSD: Buy 1.2506 // Sell 1.2660 AUDCAD: Sell .9927 EURAUD: Buy 1.4194
sl 12 or 20? (gbps ,ea 20 , ac12?)
  • #4,736
  • Edited 7:19pm Jan 31, 2017 6:41pm | Edited 7:19pm
After a monthly summary review i've decided to use uc with SL12 but tp 12/22 -> 2 halves, and au with sl15 and tp10/30 while ts 10 in both cases.
And uj and eu use 12sl 10tp as before, but miss level is 4 pip dist with 10-12pip retrace
  • #4,737
  • Jan 31, 2017 7:51pm Jan 31, 2017 7:51pm
Quoting januszo
{quote} sl 12 or 20? (gbps ,ea 20 , ac12?)
I use 15SL / 15 or 20 TP for these more volatile pairs
Plan, Prepare, Execute, Repeat
  • #4,738
  • Jan 31, 2017 9:31pm Jan 31, 2017 9:31pm
Dale,

Are you still in EU swing low?
It really look hopeless now.

Thanks in advance.

Akif,
  • #4,739
  • Jan 31, 2017 10:24pm Jan 31, 2017 10:24pm
Rate announcement day. Could see big moves today so trade with caution. Best to sideline in my opinion.
  • #4,740
  • Jan 31, 2017 11:36pm Jan 31, 2017 11:36pm
Quoting DrBeercan
{quote} I keep an eye on a couple of sites that regularly post Forex Strength and also limit myself to specific times of the day to look at entering a trade like UK lunchtime. You can generally see a shift coming when the strength starts widely swinging with the candles drawing in tight but unfortunately the news at the moment is way too unpredictable! Today I caught the tail end of a couple of good scalps on big moves and one not so good one where I put too tight an SL on. And this is really my view of caution I apply to looking to enter a trade....
Good morning everyone.

I was thinking about what DrBeercan says about certain times of the day to trade. It makes sense to stay out of the market at certain times, but what is the disadvantage of doing that?
Are the old hands in this forum trading only certain times or are the best way to make a decision as price comes to a level?

I am trading Dales levels profitably so far on a live acc. I dont want to change the strategy with extra rules if not necessary.

In the last 5 days we experienced sharp moves, but overall we are still profitable.

Thanks for this forum. What are your thoughts?
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