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Trader Dale - daily trading levels

  • #5,361
  • Feb 14, 2017 6:55am Feb 14, 2017 6:55am
I wont trade during her speech and unfortunatelly jpy seems tested now.
  • #5,362
  • Feb 14, 2017 7:05am Feb 14, 2017 7:05am
great, i got 2x stoploss for the yen pair. damn yellen.
  • #5,363
  • Feb 14, 2017 7:31am Feb 14, 2017 7:31am
Quoting CrocodileRex
great, i got 2x stoploss for the yen pair. damn yellen.
well I wouldnt blame yellen for this one mate. Please guys dont trade during macro events. Yellen is the head of FED! It is extremely risky to trade when she is on.
I know today has been a boring day, but better boring day than a losing day.
  • #5,364
  • Feb 14, 2017 7:43am Feb 14, 2017 7:43am
Yes, it seems all the levels are spent (except the EURUSD shorts that are way away now).

More chances tomorrow and bank preserved.
  • #5,365
  • Feb 14, 2017 7:46am Feb 14, 2017 7:46am
Quoting Trader-Dale
{quote} well I wouldnt blame yellen for this one mate. Please guys dont trade during macro events. Yellen is the head of FED! It is extremely risky to trade when she is on. I know today has been a boring day, but better boring day than a losing day.
Dale...you are spot on! Entries and exits are the EASY part of trading.....discipline and emotional control are the hardest parts.

I would recommend that almost everyone on this thread should be using Sevans EA for entry and trade management. It really is the answer to all of these types of problems.....It WONT trade during RED news......it WONT trade once an area is tested according to the user defined criteria....etc etc.....Just set it up and let it go

Just my .02 but these are areas we all have to conquer....I just did it many years ago is all....I dont fight myself, the markets are hard enough already

Many pips
Plan, Prepare, Execute, Repeat
  • #5,366
  • Feb 14, 2017 7:47am Feb 14, 2017 7:47am
Quoting Trader-Dale
{quote} well I wouldnt blame yellen for this one mate. Please guys dont trade during macro events. Yellen is the head of FED! It is extremely risky to trade when she is on. I know today has been a boring day, but better boring day than a losing day.
absolutely right, trading during macro events is gambling
  • #5,367
  • Feb 14, 2017 7:52am Feb 14, 2017 7:52am
Quoting Trader-Dale
{quote} well I wouldnt blame yellen for this one mate. Please guys dont trade during macro events. Yellen is the head of FED! It is extremely risky to trade when she is on. I know today has been a boring day, but better boring day than a losing day.
you are correct dale. I was driving outside and didnt manage to cancel the limit orders. Did anyone trigger any orders using seven's EA?

I see that AUD has been triggered because it is after 30 mins and it's a loss?
  • #5,368
  • Feb 14, 2017 7:58am Feb 14, 2017 7:58am
Quoting Trader-Dale
{quote} well I wouldnt blame yellen for this one mate. Please guys dont trade during macro events. Yellen is the head of FED! It is extremely risky to trade when she is on. I know today has been a boring day, but better boring day than a losing day.
Eish, I'm late my limit orders hit SLs. I was driving... That's why we have SL, to protect our accounts
  • #5,369
  • Feb 14, 2017 8:03am Feb 14, 2017 8:03am
I guess its time to walk my dogs!
  • #5,370
  • Feb 14, 2017 8:09am Feb 14, 2017 8:09am
Quoting CrocodileRex
{quote} you are correct dale. I was driving outside and didnt manage to cancel the limit orders. Did anyone trigger any orders using seven's EA? I see that AUD has been triggered because it is after 30 mins and it's a loss?
UJ's were triggered during Yellen's speech. UC and AU were hit after the news, when price went back to normal. No spikes. But these two were correlated and hit at the same time, I'd count it as only one loss, since in these situations it'd be smart to use half of the position.
  • #5,371
  • Feb 14, 2017 8:11am Feb 14, 2017 8:11am
Quoting Rfs199
{quote} UJ's were triggered during Yellen's speech. UC and AU were hit after the news, when price went back to normal. No spikes. But these two were correlated and hit at the same time, I'd count it as only one loss, since in these situations it'd be smart to use half of the position.
Since the volatility didnt really subside there should be no trade at all. There was also a strong fundamental factor driving the move - one more reason not to trade against this crazy move.
  • #5,372
  • Feb 14, 2017 8:24am Feb 14, 2017 8:24am
Quoting Trader-Dale
{quote} Since the volatility didnt really subside there should be no trade at all. There was also a strong fundamental factor driving the move - one more reason not to trade against this crazy move.
When would you say that the volatility subsides? (I mean in these type of macro events. From what I see there were no crazy pip moves after the speech)
  • #5,373
  • Feb 14, 2017 8:51am Feb 14, 2017 8:51am
So what trade is triggered now?
  • #5,374
  • Feb 14, 2017 8:55am Feb 14, 2017 8:55am
Quoting Rfs199
{quote} When would you say that the volatility subsides? (I mean in these type of macro events. From what I see there were no crazy pip moves after the speech)
You are correct this is a bit different than spike. I would say that if there is a strong macro event and the market just runs one way with no correction it is the case. i have no hard rules to recognise when this move ended and when it is safe to trade again...i can provide you with my thoughts of todays situation:
1. I see there is strong macro that can change the course of markets (yellen speech) - so I know that if a market will run strong without a correction to one side i wont trade.
2. even though there was no spike move hitting my levels the move was still strong and advancing (
3. Now i would say the volatility subsided because there are 30m candles of normal volatility already formed and there is a greeen (counter trend) candle in eur/usd- this means there are some buyers or sellers are getting rid of their positions. This probably means that volatility caused by this macro event is over and it is safe to trade intraday trades again.
  • #5,375
  • Feb 14, 2017 9:21am Feb 14, 2017 9:21am
Quoting Trader-Dale
{quote} You are correct this is a bit different than spike. I would say that if there is a strong macro event and the market just runs one way with no correction it is the case. i have no hard rules to recognise when this move ended and when it is safe to trade again...i can provide you with my thoughts of todays situation: 1. I see there is strong macro that can change the course of markets (yellen speech) - so I know that if a market will run strong without a correction to one side i wont trade. 2. even though there was no spike move hitting my...
Good thing is that we can learn from bad situations and our mistakes. Thank you very much for the detailed answer Dale .
  • #5,376
  • Feb 14, 2017 9:22am Feb 14, 2017 9:22am
Quoting Rfs199
{quote} Good thing is that we can learn from bad situations and our mistakes. Thank you very much for the detailed answer Dale .
you are welcome mate!
  • #5,377
  • Feb 14, 2017 9:47am Feb 14, 2017 9:47am
This is how I risk
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20170214-215648.png Size: 273 KB
  • #5,378
  • Feb 14, 2017 9:55am Feb 14, 2017 9:55am
Quoting 4xforfun
This is how I risk {image}
?????????????????????????????????????????????WTF??????????????????????????????????????
  • #5,379
  • Feb 14, 2017 10:22am Feb 14, 2017 10:22am
Quoting 4xforfun
This is how I risk {image}
Dude , is this a demo a/c ? or your software interprets a (-) as a + or ...r u so filthy loaded- that this is all chicken s@#%T to you
  • #5,380
  • Feb 14, 2017 10:32am Feb 14, 2017 10:32am
Quoting 4xforfun
This is how I risk {image}
You seem to be really consistent though. Just do the exact opposite
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