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Trader Dale - daily trading levels

  • #5,221
  • Feb 9, 2017 1:35pm Feb 9, 2017 1:35pm
Quoting workaholic
{quote} Most of us trade forex because we do not want a "boss". We want the independence to make our own decisions and reap the rewards or take the losses knowing we are the only ones to congratulate/blame. This is how we learn, grow, and most importantly, Innovate.
The market is like a lion, designed to hunt and kill. You can train it to make few tricks but you can't fool around.
But this is not the biggest enemy. It's oneself. You have to be your own boss and enforce discipline because if you don't, the market is a very expensive teacher.

@Rfs199
Trader-Dale created those rules for a reason. Yes you can tweak them a little (if you think you are smarter and more experienced than him?) but don't play with the market because the market is very good at playing with traders.
  • #5,222
  • Feb 9, 2017 1:37pm Feb 9, 2017 1:37pm
Quoting Trader-Dale
My today trades: USD/JPY 2X profit in asian session, EU - no trade - tested sooner (if taken would be profit) JPY in US session - didn't take (spike). (if taken would be profit)
Perfect summary Dale, Would be great if we could have this daily. The trades you didn't take and the reasons why they weren't taken teach more about forex trading than the levels themselves.
Always look for reasons not to take a trade
  • #5,223
  • Edited 3:44pm Feb 9, 2017 3:33pm | Edited 3:44pm
an open mt4 question

I want to have the rectangle on the menu bar like this{see pic.}
(right now ,I have to navigate menu option--> Insert--->shapes-->rectangle...too tedious
how can I have the rectangle shape where as shown

Thanks !
Attached Image (click to enlarge)
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  • #5,224
  • Feb 9, 2017 3:55pm Feb 9, 2017 3:55pm
Quoting radaway
an open mt4 question I want to have the rectangle on the menu bar like this{see pic.} (right now ,I have to navigate menu option--> Insert--->shapes-->rectangle...too tedious how can I have the rectangle shape where as shown Thanks ! {image}
right-click on toolbar -> Customize -> select Rectangle from left menu -> Insert
  • #5,225
  • Feb 9, 2017 3:59pm Feb 9, 2017 3:59pm
guys any propositions for asia?
  • #5,226
  • Feb 9, 2017 4:07pm Feb 9, 2017 4:07pm
For asian session lovers
Happy trading guys and watch out for RBA monetary policy statement!
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  • #5,227
  • Feb 9, 2017 4:10pm Feb 9, 2017 4:10pm
Quoting oztrader79
{quote} I don't trade this system either, but from what I can see because it is a type of scalping you need to monitor the trade. If not, an alternative would be to get an EA or other external program (like myfx used to have) which when a trade is open can be set to BE after 6 pips, this would eliminate many losses in this system. People who can't be at the monitor for long periods should really trade 4hr minimum, but better still daily candles.
You are aware of the EA that Sevan has on this thread which will do exactly that. You set when it goes to break even+1 It also filters out the already tested levels, which you can customize....and it wont trade during Red News.
Plan, Prepare, Execute, Repeat
  • #5,228
  • Feb 9, 2017 4:14pm Feb 9, 2017 4:14pm
Quoting fakebuster
{quote} You are correct. That is why Dale never post real results online. Only modified ones. Sometime, he said that he did not take the lost trade, after the level was hit.
So I guess if someone direct deposited 1 million in your account but it was only in $5 dollar bills....you would probably find something wrong with that also....If you are so despondent over someone posting very accurate levels hours in advance then feel free to move along. Obvious that there is nothing to see here.
Plan, Prepare, Execute, Repeat
  • #5,229
  • Feb 9, 2017 9:05pm Feb 9, 2017 9:05pm
AU 0.76560 triggered Asian session
  • #5,230
  • Feb 9, 2017 9:15pm Feb 9, 2017 9:15pm
Quoting Erikvan
AU 0.76560 triggered Asian session
Let's see how this one goes.
  • #5,231
  • Feb 9, 2017 9:26pm Feb 9, 2017 9:26pm
The levels Dale posted 5 hours ago, is that the levels for 10 Feb?
  • #5,232
  • Feb 9, 2017 9:49pm Feb 9, 2017 9:49pm
Quoting Nicolaas82
The levels Dale posted 5 hours ago, is that the levels for 10 Feb?
Yes for the current asian session
  • #5,233
  • Feb 9, 2017 10:12pm Feb 9, 2017 10:12pm
Dale, first post here, wanted to say thank you much for the thread, I've profited in $ and education.

Also thank you to Sevan for the EA.

Stopped out at BE on the AU short, I was nervous coming into the trade due to the quick rise.

Hindsight now showing I should have waited a few minutes to move my stop up as +10 profit target was reached.
Novice trader, please take my opinion with several grains of salt
  • #5,234
  • Feb 9, 2017 10:23pm Feb 9, 2017 10:23pm
Yeap you can scrath off the AU short
  • #5,235
  • Feb 9, 2017 10:27pm Feb 9, 2017 10:27pm
On another note is there some information or instructions on how to use and set up the EA?
Im just learning the MT4 program and any help I can get would awesome, thanks in advanced!
  • #5,236
  • Feb 9, 2017 10:40pm Feb 9, 2017 10:40pm
Quoting mtorr
On another note is there some information or instructions on how to use and set up the EA? Im just learning the MT4 program and any help I can get would awesome, thanks in advanced!
Post #5030 of this thread has the the most recent EA and a pdf instruction sheet
  • #5,237
  • Feb 9, 2017 11:43pm Feb 9, 2017 11:43pm
Can some pro help to check the market volume levels for audnzd? I am looking to go short based mostly on the macroeconomic factors.
  • #5,238
  • Feb 10, 2017 1:29am Feb 10, 2017 1:29am
Hi i am stagnate to hold the rules. Even I know /for example Dale system/ is working and is profitable I usually closed trade before profit.For example today AUDUSD in asian session 0.7656. It triggered my order and after i was just watching my orderflow. All was good just was it was rotating under level for some time and i become nervous and i closed. Exactly after I closed trade, market went down. So funny. But I do this "mistake" quiet often.

Can anybody can give me advice how to go over this - fear.

Thanks guys
  • #5,239
  • Feb 10, 2017 1:31am Feb 10, 2017 1:31am
au that was a tp
  • #5,240
  • Feb 10, 2017 1:42am Feb 10, 2017 1:42am
Quoting mtorr
On another note is there some information or instructions on how to use and set up the EA? Im just learning the MT4 program and any help I can get would awesome, thanks in advanced!
Read the pdf document sevan posted it has all the instructions
Never argue with a fool; onlookers may not be able to tell the difference.
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