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Trader Dale - daily trading levels

  • #5,241
  • Feb 10, 2017 2:05am Feb 10, 2017 2:05am
Recently I have got a PM request from one smart trader who divides his total position into two with different TP. For example insead of Buy 0.1 lot with TP=10 pips he places: Buy 0.05 with TP=10 pips and Buy 0.05 with TP=20 pips. He asked how he may trade it with EA on two charts with the same currency pair.
Below is EA with external user definable MN (Magic Number) which may be used for this purpose. You may attach two EA instances to both same currency pair charts but with different MN so these both trades should be executed and controlled by EA independently.
Attached Image (click to enlarge)
Click to Enlarge Name: mn.jpg Size: 118 KB

Attached File(s)
File Type: ex4 DaleTM_v1.42.ex4   38 KB | 370 downloads

Attached File(s)
File Type: ex4 FFCal_DV_150715.ex4   63 KB | 353 downloads

Attached File(s)
File Type: pdf EA Dale 1.4.pdf   238 KB | 380 downloads

  1. FFCal Red News indicator should be placed in Metatrader4\MQL4\Indicators folder.
  2. Please do not change chart TF EA is attached to.
  3. Please read EA manual before asking questions.


All the best and stay green.

BR, alex
  • #5,242
  • Feb 10, 2017 2:35am Feb 10, 2017 2:35am
Quoting luckybay
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
Leave your computer for a while and don't check. You have to give it chance to go in your favour or to go against you. If it goes against you and has been there for some time you might want to move TP to break even. If it goes in your favour and is close to +10 then move SL to break even.

Just look at how some of the previous trades played out and ask yourself if you have given the trade enough time.
So many in the Commercial section want to make me rich! :o
  • #5,243
  • Feb 10, 2017 2:53am Feb 10, 2017 2:53am
Intraday levels for 10.2.2017
I use PT 10 pips, SL 12 pips.
Happy trading
*New document about Position Management is attached here:
http://www.forexfactory.com/showthread.php?p=9162014#post9162014
Attached Image (click to enlarge)
Click to Enlarge Name: 10.2. eu fx.png Size: 5 KB

Attached Image (click to enlarge)
Click to Enlarge Name: 10.2. print.png Size: 458 KB
  • #5,244
  • Feb 10, 2017 2:55am Feb 10, 2017 2:55am
Quoting Trader-Dale
Intraday levels for 10.2.2017 I use PT 10 pips, SL 12 pips. Happy trading *New document about Position Management is attached here: http://www.forexfactory.com/showthread.php?p=9162014#post9162014 10.2. eu fx.png;2182038 10.2. print.png;2182041 {image} {image}

Hi Dale - are you now giving levels twice a day? Once for Asian session and once for the Europea/USA session?
Always look for reasons not to take a trade
  • #5,245
  • Feb 10, 2017 3:07am Feb 10, 2017 3:07am
Quoting FX-Flux
{quote} Leave your computer for a while and don't check. You have to give it chance to go in your favour or to go against you. If it goes against you and has been there for some time you might want to move TP to break even. If it goes in your favour and is close to +10 then move SL to break even. Just look at how some of the previous trades played out and ask yourself if you have given the trade enough time.
Thanks you are right
  • #5,246
  • Feb 10, 2017 3:31am Feb 10, 2017 3:31am
Quoting Crackpot
{quote} Sell Twitter stock, go around on internet and spread a rumor, that Twitter is finally bancrupted (not a lie, cause they havent seen profit all those years), maybe it pushes Twitter into chaos and going down. So the orange clown cant turn the markets upside down every minute he feels like it. Damn hooligan!
Hi Crackpot, WHAT did you say yesterday , and what happened today :
BBC.._________ Twitter shares dive as losses widen _____________
  • #5,247
  • Feb 10, 2017 3:33am Feb 10, 2017 3:33am
Quoting Jako
{quote} Hi Dale - are you now giving levels twice a day? Once for Asian session and once for the Europea/USA session?
I will try but It will probably not be every day.
  • #5,248
  • Feb 10, 2017 3:45am Feb 10, 2017 3:45am
Quoting luckybay
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
Hi,
thanks for your question. Iam glad somebody asked because Iam sure you are not the only one with this problem.
I suggest you write a trading journal. There you write how many pips you really took and if the market actually made the original +10 pip profit. After few days/weeks you will see some hard data that will probably show you that If you didnt interfere you would end up much better. I think that seeing the hard data is crucial here.
I also had this problem and this method helped me.
  • #5,249
  • Feb 10, 2017 3:52am Feb 10, 2017 3:52am
Hi Dale, I have a question about your USDJPY level at 113,29. Wouldn't be better to move this level little bit lower, where is higher volume?
  • #5,250
  • Feb 10, 2017 4:14am Feb 10, 2017 4:14am
Quoting m.miso
Hi Dale, I have a question about your USDJPY level at 113,29. Wouldn't be better to move this level little bit lower, where is higher volume?
I like this one more
  • #5,251
  • Feb 10, 2017 4:29am Feb 10, 2017 4:29am
Quoting luckybay
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
As you evolve as a trader you will encounter road blocks. One of which is emotions. Give yourself credit for addressing this to yourself and in front of others as this shows humility and you are maturing as a trader. From my own personal experiences in addressing this, I needed to create processes (to take as much emotions out of the picture). In this case I would put 2 lines on a chart (1 for stop and 1 for target). I would than turn off my execution platform and just watch to see when price hit either line. From this I created myself some statistical analysis. Out of 10 trades however many were profitable, loss, or b/e. It gave a good barometer to see how well I was doing. If I was able to hit 70% and better (profit wise) for at least 100 trades, than I could refer to this to help reassure my entries and exit.

Trader Dale made a great suggestion creating a journal. You will be surprised how effective this works.
  • #5,252
  • Feb 10, 2017 4:48am Feb 10, 2017 4:48am
Quoting XxixixX
{quote} As you evolve as a trader you will encounter road blocks. One of which is emotions. Give yourself credit for addressing this to yourself and in front of others as this shows humility and you are maturing as a trader. From my own personal experiences in addressing this, I needed to create processes (to take as much emotions out of the picture). In this case I would put 2 lines on a chart (1 for stop and 1 for target). I would than turn off my execution platform and just watch to see when price hit either line. From...
The problem is how do you turn off your execution platform? Do you mean you close mt4?
  • #5,253
  • Feb 10, 2017 5:00am Feb 10, 2017 5:00am
Quoting Trader-Dale
{quote} I will try but It will probably not be every day.
Feed us we are hungry ;-) all that you can do is greatly appreciated. :-)
Take 1 step forward, two small steps back
  • #5,254
  • Feb 10, 2017 5:18am Feb 10, 2017 5:18am
Quoting CrocodileRex
{quote} The problem is how do you turn off your execution platform? Do you mean you close mt4?
If you running it though MT4, then would suggest having 2 versions (turn off or hide the live account and use the 2nd one (demo account) to monitor trades.
  • #5,255
  • Feb 10, 2017 5:54am Feb 10, 2017 5:54am
Quoting brink
Can some pro help to check the market volume levels for audnzd? I am looking to go short based mostly on the macroeconomic factors.
Could you please elaborate on the macro factors? Seems Iam missing something. Looks like this move is nzd driven and it is because RBNZ has shown unexpected easing bias
Attached Image (click to enlarge)
Click to Enlarge Name: audnzd.png Size: 128 KB
  • #5,256
  • Feb 10, 2017 6:10am Feb 10, 2017 6:10am
Quoting Trader-Dale
{quote} Could you please elaborate on the macro factors? Seems Iam missing something. Looks like this move is nzd driven and it is because RBNZ has shown unexpected easing bias audnzd.png;2182403 {image}
Quoting Trader-Dale
{quote} Could you please elaborate on the macro factors? Seems Iam missing something. Looks like this move is nzd driven and it is because RBNZ has shown unexpected easing bias audnzd.png;2182403 {image}
AUD is strong against all the currencies including USD. It is almost at the levels last seen before 8th Nov. RBA may not reduce interest rates but RBNZ may not raise interest rates. Property in auckland is going really hot. It is almost a bubble. So I expect RBNZ to move first to control. AUD on the other hand is driven by China growth which is not that really strong. Milk growth on the other hand looks strong. http://m.nzherald.co.nz/the-country/news/article.cfm?c_id=16&objectid=11797537

i may be wrong
  • #5,257
  • Feb 10, 2017 6:27am Feb 10, 2017 6:27am
Quoting Prax
{quote} Its a Trump tweet again *sighs* If this game wasn't hard enough before the Donald......
Lol. Trump bring forex to the next level.
Risk comes from not knowing what you're doing.
  • #5,258
  • Feb 10, 2017 6:27am Feb 10, 2017 6:27am
Quoting brink
{quote} {quote} AUD is strong against all the currencies including USD. It is almost at the levels last seen before 8th Nov. RBA may not reduce interest rates but RBNZ may not raise interest rates. Property in auckland is going really hot. It is almost a bubble. So I expect RBNZ to move first to control. AUD on the other hand is driven by China growth which is not that really strong. Milk growth on the other hand looks strong. http://m.nzherald.co.nz/the-country/news/article.cfm?c_id=16&objectid=11797537 i may be wrong
Thanks very much! I like it! current price is at last year's POC so if you want to short it, it may be good idea to do it about now. I wont go against such strong upmove though.
Good luck mate!
  • #5,259
  • Feb 10, 2017 6:45am Feb 10, 2017 6:45am
Valentine day is coming
Attached Image
  • #5,260
  • Feb 10, 2017 7:06am Feb 10, 2017 7:06am
Quoting Trader-Dale
Valentine day is coming 16195248_728865443935649_902813735998039316_n.jpg;2182520 {image}
Better get rich quick to buy the wife something extra special! I wonder if there is a sound way of making money with only a little bit of investment ;-)
Take 1 step forward, two small steps back
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