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Trader Dale - daily trading levels

  • #5,181
  • Feb 9, 2017 3:55am Feb 9, 2017 3:55am
Dale - you've done a great thing here and you've done it all for nothing. You owe nobody anything and we all owe you.

With that in mind may I ask that you do something additional for this thread which will be of huge benefit - namely that you daily list your trades (perhaps in table form) together with results and possibly even more crucially - list out the levels that were hit but you didn't trade because of a particular reason like macro news, already tested etc.?
Always look for reasons not to take a trade
  • #5,182
  • Feb 9, 2017 4:03am Feb 9, 2017 4:03am
Quoting Jako
Dale - you've done a great thing here and you've done it all for nothing. You owe nobody anything and we all owe you. With that in mind may I ask that you do something additional for this thread which will be of huge benefit - namely that you daily list your trades (perhaps in table form) together with results and possibly even more crucially - list out the levels that were hit but you didn't trade because of a particular reason like macro news, already tested etc.?
Thanks for the tip. I am doing this sometimes but not with a table. I will try to do it everyday now but probably not using table, just in plain text to save some time, ok?
  • #5,183
  • Feb 9, 2017 4:12am Feb 9, 2017 4:12am
& it's a Good thing Dale, no UC levels today...it was turning out to be a constant bane
  • #5,184
  • Feb 9, 2017 4:22am Feb 9, 2017 4:22am
Quoting Trader-Dale
{quote} Thanks for the tip. I am doing this sometimes but not with a table. I will try to do it everyday now but probably not using table, just in plain text to save some time, ok?
This is the best tip (atleast for me): Quitting the position earlier: You can apply this rule in all three approaches I mentioned. The basic idea is to quit the position at BE when you see no reaction to the level and when the market makes a long rotation in red numbers (below your long entry or above your short entry). For example if there is little or no reaction for more than 10 - 20 minutes you try to get out ideally at BE or in green pips

btw I am unable to register to your website. The sign-up is not working. Please help to check
  • #5,185
  • Feb 9, 2017 4:22am Feb 9, 2017 4:22am
Quoting radaway
& it's a Good thing Dale, no UC levels today...it was turning out to be a constant bane
so true
  • #5,186
  • Feb 9, 2017 4:28am Feb 9, 2017 4:28am
+10 for EU
So many in the Commercial section want to make me rich! :o
  • #5,187
  • Feb 9, 2017 4:48am Feb 9, 2017 4:48am
Quoting Trader-Dale
{quote} Thanks for the tip. I am doing this sometimes but not with a table. I will try to do it everyday now but probably not using table, just in plain text to save some time, ok?
Great thanks.
Always look for reasons not to take a trade
  • #5,188
  • Feb 9, 2017 4:50am Feb 9, 2017 4:50am
Quoting Trader-Dale
I wrote an article about Position Management for you guys! I hope you will find it usefull. It will be avilable also on the 1st page of my thread. I strongly advise everybody here to read it. Position management.pdf;2179839 {image}
Hi guys,
I've read it earlier on the website, it's really interesting, I strongly suggest everyone here trading Dale's signal to read it, there's a couple of hint very useful to help us on approaching and managing this trades.

Thanks Dale to share it with us.
  • #5,189
  • Feb 9, 2017 4:57am Feb 9, 2017 4:57am
Quoting majrou666
Hi radaway, hope this is what you wanted for UJ analyse. Finally I always check M1 TF. {image}
I am new here but I have tried Dale's system n my chart doesn't have some colorful volume bar like u for smaller TF. Could you tell me how to modify this??
Thank you!!
  • #5,190
  • Feb 9, 2017 5:09am Feb 9, 2017 5:09am
Hello Dale
Thanks for your good levels. Can I make a small suggestion:
your new design (green background and white characters) are bad to read, it has too little contrast.
Could you perhaps choose a darker font? This would improve readability. It would be very nice.
Thanks for sharing your levels.
  • #5,191
  • Feb 9, 2017 5:12am Feb 9, 2017 5:12am
Quoting mitao
Hello Dale Thanks for your good levels. Can I make a small suggestion: your new design (green background and white characters) are bad to read, it has too little contrast. Could you perhaps choose a darker font? This would improve readability. It would be very nice. Thanks for sharing your levels.
Thanks mate for your feedback!
  • #5,192
  • Feb 9, 2017 5:14am Feb 9, 2017 5:14am
Quoting Trader-Dale
{quote} from the beginning of February it was 7 winners, 3 losers, one BE for me. Counting also today's 2 profits on usd/jpy that happened in asian session. Maybe you dont discard trades when the price turns sooner? This could be the reason you have more trades than me and also more losses.
Hi Dale. Yes, that is exactly what has happened since I could not be at my computer to take the necessary action to cancel trades when a level has been tested.
  • #5,193
  • Feb 9, 2017 6:09am Feb 9, 2017 6:09am
Huge thanks to Dale for letting me experience forex as if I am professional, even though I am not (far from it actually).

Now, a question to the mates that use Sevan's EA:
Do you use default setting? If not, what do you change and why? I was thinking about changing:
- Points to correct (+3 equivalent to 0.3 pips) due to larger Oanda spread
- Discard Level: Point to Level 30 instead of the default 20 - more conservative?

Also do you let your pc run or use VPN-type of service? At night do you just put limit orders or you use the EA?

My hope is to achieve profitability over the long term with minimal time on screen, and I feel this is not impossible with this lovely thread!
  • #5,194
  • Edited 9:19am Feb 9, 2017 6:33am | Edited 9:19am
Quoting radaway
& it's a Good thing Dale, no UC levels today...it was turning out to be a constant bane
I've gone for trade today in UC starting at 1.3132 with SL 1.31686 and TP 1.30750 which is above a previous level published here. I see support at 1.31134 which is just above another poc at 1.31070. I think if i get the break below support its a home run. My reasoning is that it follows a break away from 1.31520. I have a very small exposure to the trade and lets see if it will be tears of joy or sadness later!
Edit: the PA hit a POC at 1.31066 that I have marked on my chart and shot back out taking my trailing stop. Good news is it wasn't red but a green SL :-) Getting ready for the next bus as one of the guys says in this forum :-)
Take 1 step forward, two small steps back
  • #5,195
  • Feb 9, 2017 7:19am Feb 9, 2017 7:19am
Hey Dale

It looks like UJ is my best friend this week as for UC. I cant wait to put this week behind
Thank you for sailing us to more green pips
Attached Image
  • #5,196
  • Feb 9, 2017 7:46am Feb 9, 2017 7:46am
Quoting Jako
Dale - you've done a great thing here and you've done it all for nothing. You owe nobody anything and we all owe you. With that in mind may I ask that you do something additional for this thread which will be of huge benefit - namely that you daily list your trades (perhaps in table form) together with results and possibly even more crucially - list out the levels that were hit but you didn't trade because of a particular reason like macro news, already tested etc.?
Great idea. Maybe a short summary at the end of day marking the morning table levels with letters: W for Win, L for Loss, S for Skip, T for Tested.

This will help remove any suspicion regarding false reporting of trades. In my opinion January's reported results are not true. It's very frustrating when you take a loss but someone else who takes the same trade says it's a win. Quite a few had this feeling lately.

Nevertheless a drawdown period is normal for any trading system that's why building trust is very important.
  • #5,197
  • Feb 9, 2017 8:09am Feb 9, 2017 8:09am
Quoting mindspeculat
{quote} Great idea. Maybe a short summary at the end of day marking the morning table levels with letters: W for Win, L for Loss, S for Skip, T for Tested.
Maybe you can take ownership of this task then? Use the latest PDF that dale posted on managing your trades and post the results.

EU was a winner for me this morning but only because the EA didn't consider the level tested. However, Dale considered it tested.
So many in the Commercial section want to make me rich! :o
  • #5,198
  • Feb 9, 2017 8:15am Feb 9, 2017 8:15am
+10 pips on EU. Nice and easy.
Risk comes from not knowing what you're doing.
  • #5,199
  • Feb 9, 2017 8:58am Feb 9, 2017 8:58am
be awere of Short level at USDJPY, moving 50 pips in 3 minutes, no red news, someone is tweeting ?

Edit: here's the news "Heads up... We're hearing that Trump is going to announce tax changes in the next few weeks."
  • #5,200
  • Feb 9, 2017 9:04am Feb 9, 2017 9:04am
Quoting mindspeculat
{quote} Great idea. Maybe a short summary at the end of day marking the morning table levels with letters: W for Win, L for Loss, S for Skip, T for Tested. This will help remove any suspicion regarding false reporting of trades. In my opinion January's reported results are not true. It's very frustrating when you take a loss but someone else who takes the same trade says it's a win. Quite a few had this feeling lately. Nevertheless a drawdown period is normal for any trading system that's why building trust is very important.
My thought on this is that the results would have to account for each persons broker. Some people miss the trade because of their brokers spreads, others open the trade and fail to close for the same reason. Hence no results are the same. I have experienced this issue as I am using Oanda as I am new so am trading micro lots. My recommendation is to use a demo account and record your results for comparison.
Take 1 step forward, two small steps back
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