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Trader Dale - daily trading levels

  • #5,561
  • Feb 17, 2017 6:29pm Feb 17, 2017 6:29pm
Quoting DrBeercan
Could one of you kind traders who has trading view, kindly let me know if there is VWAP indicators available on ordinary shares? Such as Apple, I just am interested to see if I can spread my trades around a bit. Yes I know that's not the forum
yes, there is vwap indi
Every dog has his day
  • #5,562
  • Edited 3:11am Feb 18, 2017 2:57am | Edited 3:11am
Quoting radaway
{quote} FX-Flux , are you suggesting to go for the mean-average of the two lines drawn here : (vwap + tool) / 2 , as a conventional thumb rule ? Thx.
I find the rough level where price moved from and then "zoom in" to see where price was most consolidated to use Akif's tool and draw the rectangle around that area. I might be a bit more conservative and place my level a few pips further away as well.

This is my approach for Monday. UJ short ~ 113.381

Quoting simeeon
{quote} Which account (standard ot true ECN) is more money efficient with dale's levels? I consider changing my Oanda broker
i'm with FX-Pro. Their spreads are ok and i've never had an issue.
Attached Image (click to enlarge)
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So many in the Commercial section want to make me rich! :o
  • #5,563
  • Edited 7:46am Feb 18, 2017 5:57am | Edited 7:46am
Quoting FX-Flux
{quote}..... I might be a bit more conservative and place my level a few pips further away as well. {quote}{image}
Thx. for the reply FX-Flux.
& finally whats vexing me a bit here is the part: "and place my level a few pips further away as well."

how can I fathom this objectively. I mean what would be a 'few pips' & the definition. Is it...Gut feeling, experience, an aribitary number, a thumb rule, completely abstract ...I mean what exactly would be the 'few pips' here.(this will ultimately define a win or loose ..in a 12 | 10 regime)

Hope it wont be a bother to explain this last part

Cheers & a Good Weekend !
  • #5,564
  • Feb 18, 2017 7:38am Feb 18, 2017 7:38am
Quoting FX-Flux
{quote} I find the rough level where price moved from and then "zoom in" to see where price was most consolidated to use Akif's tool and draw the rectangle around that area. I might be a bit more conservative and place my level a few pips further away as well. This is my approach for Monday. UJ short ~ 113.381 {quote} i'm with FX-Pro. Their spreads are ok and i've never had an issue. {image}
i use Macbook and mt4 is not provided for MACbook by most of the Brokers. Will the volume indicator differ between different brkers? Can you suggest which is the best broker that provide mt4 for MAC ?
  • #5,565
  • Feb 18, 2017 8:14am Feb 18, 2017 8:14am
Quoting radaway
{quote} Thx. for the reply FX-Flux. & finally whats vexing me a bit here is the part: "and place my level a few pips further away as well." how can I fathom this objectively. I mean what would be a 'few pips' & the definition. Is it...Gut feeling, experience, an aribitary number, a thumb rule, completely abstract ...I mean what exactly would be the 'few pips' here.(this will ultimately define a win or loose ..in a 12 | 10 regime) Hope it wont be a bother to explain this last part Cheers & a Good Weekend !
Well you know how price can go past Dales levels before it properly reacts, well since I'm not using futures data and I'm just learning, i think it would be safer for myself to place my level 1-3 pips past the precise VPOC drawn by Akif's tool. If the volume distribution around a price level is quite wide i guess it can make sense to do this as well.

Quoting brink
{quote} i use Macbook and mt4 is not provided for MACbook by most of the Brokers. Will the volume indicator differ between different brkers? Can you suggest which is the best broker that provide mt4 for MAC ?
I use a Mac. Just use Wine (http://winebottler.kronenberg.org) to install windows applications on a Mac. 4/5 times you can install any program.
So many in the Commercial section want to make me rich! :o
  • #5,566
  • Feb 18, 2017 10:02am Feb 18, 2017 10:02am
Quoting RovingDog
{quote} yes, there is vwap indi
Thank you :-)
Take 1 step forward, two small steps back
  • #5,567
  • Edited 8:34am Feb 19, 2017 4:42am | Edited 8:34am
Quoting Erikvan
{quote} Well, I also short UCa with 161.8 fibo retrace M30 TF and a good Resistance zone!! And how 23% Fib works? Could u explain more detail??
I have my Fib retracement set up on daily from the high on 27th December to the low on 30th Jan
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD daily.png Size: 63 KB

My original post was to ask if anyone uses Fibs in conjunction with Dales levels, and on this occasion I was highlighting the correlation of Dales 1.3110 level with the 23% Fib
Attached Image (click to enlarge)
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  • #5,568
  • Feb 19, 2017 6:40am Feb 19, 2017 6:40am
Quoting brink
{quote} i use Macbook and mt4 is not provided for MACbook by most of the Brokers. Will the volume indicator differ between different brkers? Can you suggest which is the best broker that provide mt4 for MAC ?
Hi I have MT4 on my MAC. Broker IC Markets. Itworks ok. ALso I have ma harddrive divide on 2 parts . One is OSX and second half windows and it work well.
  • #5,569
  • Feb 19, 2017 1:56pm Feb 19, 2017 1:56pm
Hello my friends,
I won't be trading tomorrow because of US holiday. See you on Tuesday!
  • #5,570
  • Feb 19, 2017 2:07pm Feb 19, 2017 2:07pm
Quoting Prax
{quote} I have my Fib retracement set up on daily from the high on 27th December to the low on 30th Jan {image} My original post was to ask if anyone uses Fibs in conjunction with Dales levels, and on this occasion I was highlighting the correlation of Dales 1.3110 level with the 23% Fib {image}
Very interesting point. Was just looking at Fib levels over the past few days. I know that a lot of people say that they can be as much as hit and miss as other indicators and we are still taking a best guess. Look at what happens on a daily with a Fib ARC? Why am I looking at Fib arcs you may all ask? Why not! Haven't attempted trading with it yet but just found some interesting views. Also I think the reason we have had so many problems is look at all the shadows! The currency has been ongoing up and down.
Edit: Forgot to mention, the green line at 1.31601 is close to a level I found with Akif's tool. Am using the concept I am trying where price hasn't visited an area after the last rejection of a level.
Attached Image (click to enlarge)
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Take 1 step forward, two small steps back
  • #5,571
  • Feb 19, 2017 2:13pm Feb 19, 2017 2:13pm
Quoting Trader-Dale
Hello my friends, I won't be trading tomorrow because of US holiday. See you on Tuesday!
Good evening Dale, good to know, have a great day and look forward to your Tuesday's levels.
Take 1 step forward, two small steps back
  • #5,572
  • Feb 19, 2017 6:31pm Feb 19, 2017 6:31pm
Quoting Erikvan
{quote} I wonder whether it is a divergence on RSI or not??
I don't know about that, I don't use RSI or other such indicators.
Was looking at cumulative delta, or difference between buy and sell market orders being filled on futures market.
Was seeing many more buy orders coming in than sell orders (futures contract for cad is inverted compared to spot fx price), but price was not increasing, in fact it was still dropping.
  • #5,573
  • Feb 20, 2017 2:08am Feb 20, 2017 2:08am
Quoting FX-Flux
{quote} Well you know how price can go past Dales levels before it properly reacts, well since I'm not using futures data and I'm just learning, i think it would be safer for myself to place my level 1-3 pips past the precise VPOC drawn by Akif's tool. If the volume distribution around a price level is quite wide i guess it can make sense to do this as well. {quote} I use a Mac. Just use Wine (http://winebottler.kronenberg.org) to install windows applications on a Mac. 4/5 times you can install any program.
thanks.

Any my idea of the volume information is different between different Brokers? If true then the levels would be different but close
  • #5,574
  • Feb 20, 2017 3:18am Feb 20, 2017 3:18am
Quoting Prax
{quote} I have my Fib retracement set up on daily from the high on 27th December to the low on 30th Jan {image} My original post was to ask if anyone uses Fibs in conjunction with Dales levels, and on this occasion I was highlighting the correlation of Dales 1.3110 level with the 23% Fib {image}
That was what i had done!! Luckily, it worked but I Took short profit after 3-4 bear candles of m5 TF.. With a dale level combined, there was more risks which i can accept!!
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  • #5,575
  • Feb 20, 2017 5:05am Feb 20, 2017 5:05am
Quoting brink
{quote} thanks. Any my idea of the volume information is different between different Brokers? If true then the levels would be different but close
Yes, that's right, I think levels might deviate by a few pips. Volume is different between brokers. I'd even go as far to say made up in the case of B-bookers, just to reflect the true market.
So many in the Commercial section want to make me rich! :o
  • #5,576
  • Feb 21, 2017 1:53am Feb 21, 2017 1:53am
Wasn't around to trade these two, hope someone made good use of the Yen level.
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  • #5,577
  • Feb 21, 2017 2:16am Feb 21, 2017 2:16am
Quoting ziggy
Wasn't around to trade these two, hope someone made good use of the Yen level.{image}
Took the Long one. Still in audnzd trade. Will wait for the dairy auction results tonight and if not good will exit. Already in loss. So didn't have margin for the short position
  • #5,578
  • Feb 21, 2017 2:34am Feb 21, 2017 2:34am
Quoting ziggy
Wasn't around to trade these two, hope someone made good use of the Yen level.{image}
Hi Ziggy,

whats the reason for the ~0530 and ~0540 level on EU?
I have 0543 on my radar.
https://puu.sh/ucT3L/23a083d7ac.png

Thanks

toti
  • #5,579
  • Feb 21, 2017 2:36am Feb 21, 2017 2:36am
Quoting ziggy
Wasn't around to trade these two, hope someone made good use of the Yen level.{image}
Caught the UJ, EU somehow escaped my radar....
  • #5,580
  • Feb 21, 2017 2:39am Feb 21, 2017 2:39am
Quoting brink
{quote} Took the Long one. Still in audnzd trade. Will wait for the dairy auction results tonight and if not good will exit. Already in loss. So didn't have margin for the short position
good luck Brink, it sounds as though you are trading with a significantly large proportion of your trading bank per trade, take great care as a few bad outcomes could take you out of the game.
I can tell you that when I first started trading my focus was entirely on how much I could make......... until I had lost 70% of my trading bank, it then took me 2 years to get back to where I started. I still made some pretty poor trade management decisions. Since limiting myself to 2-3% maximum risk per trade I found my trading decisions became 100% better and now I can make a living from trading.

Hope these go well for you.
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