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Trader Dale - daily trading levels

  • #5,581
  • Feb 21, 2017 2:45am Feb 21, 2017 2:45am
Quoting toti1981
{quote} 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
screen shot explains
Attached Image (click to enlarge)
Click to Enlarge Name: 2017-02-21_0842.png Size: 95 KB
  • #5,582
  • Feb 21, 2017 2:47am Feb 21, 2017 2:47am
Intraday levels for 21.2.2017
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: 21.2. print.png Size: 198 KB
  • #5,583
  • Feb 21, 2017 2:55am Feb 21, 2017 2:55am
Quoting ziggy
{quote} screen shot explains{image}
Thanks for the explanation. According to IDC data there are about 20000k contracts located at 0553 on EURUSD. Thats much larger than you have on 6E in futures.
  • #5,584
  • Feb 21, 2017 3:02am Feb 21, 2017 3:02am
Did you guys trade usd/jpy? pretty nice reaction.
Attached Image

Eur/usd level was tough luck. If you check futures levels it was a profit but on forex the level was missed.
  • #5,585
  • Feb 21, 2017 3:08am Feb 21, 2017 3:08am
Quoting ziggy
{quote} 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%...
For the pair trade I usually go for a bigger position. Lets see how it goes
For the USD pairs it is always smaller position especially for USDJPY. UJ can move very quickly and a lot of pips.
  • #5,586
  • Feb 21, 2017 3:36am Feb 21, 2017 3:36am
Quoting toti1981
{quote} Thanks for the explanation. According to IDC data there are about 20000k contracts located at 0553 on EURUSD. Thats much larger than you have on 6E in futures.
What is IDC ?
  • #5,587
  • Feb 21, 2017 4:00am Feb 21, 2017 4:00am
I hope you guys are aware of the corellation (eur/usd, aud/usd). I will take half positions on every pair if I see that both levels are going to be hit in the same time.
  • #5,588
  • Feb 21, 2017 4:25am Feb 21, 2017 4:25am
Quoting ziggy
{quote} 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
Thanks for the share Ziggy, I would like to echo my experience is similar, whilst I have only used small amount I was shocked at how rapidly it can disappear until I learnt money management. I start with 3% look at a trade and reduce the lot size i f I can.
Take 1 step forward, two small steps back
  • #5,589
  • Feb 21, 2017 4:26am Feb 21, 2017 4:26am
Quoting Trader-Dale
I hope you guys are aware of the corellation (eur/usd, aud/usd). I will take half positions on every pair if I see that both levels are going to be hit in the same time.
Thanks Dale. Have reduced my exposure.
Take 1 step forward, two small steps back
  • #5,590
  • Feb 21, 2017 4:28am Feb 21, 2017 4:28am
Quoting kenlionheart
{quote} What is IDC ?
its a service. they provide market data to banks and funds.
  • #5,591
  • Feb 21, 2017 4:52am Feb 21, 2017 4:52am
EU still valid?
  • #5,592
  • Feb 21, 2017 4:53am Feb 21, 2017 4:53am
Quoting CrocodileRex
EU still valid?
not in my opinion
  • #5,593
  • Feb 21, 2017 4:53am Feb 21, 2017 4:53am
I know this won't meet with most peoples criteria, but AU got to within 5 pips of the level & has now moved more than 15 pips away from it, for me that is enough to constitute a test & I won't be taking this level. Despite being pretty much the same "level", the EU has not yet pulled away 15 from the level & I'm still ok to trade it
  • #5,594
  • Feb 21, 2017 4:55am Feb 21, 2017 4:55am
EURUSD tested
  • #5,595
  • Feb 21, 2017 5:06am Feb 21, 2017 5:06am
Quoting toti1981
{quote} its a service. they provide market data to banks and funds.
Do they have a website?
How do you see their data?
  • #5,596
  • Feb 21, 2017 5:25am Feb 21, 2017 5:25am
Quoting ziggy
I know this won't meet with most peoples criteria, but AU got to within 5 pips of the level & has now moved more than 15 pips away from it, for me that is enough to constitute a test & I won't be taking this level. Despite being pretty much the same "level", the EU has not yet pulled away 15 from the level & I'm still ok to trade it
.7650 is the lowest on AU for me. I'll probably still take it. 6 pips is more than half of my TP
EU for me is tested as it came 1pip to the level
  • #5,597
  • Feb 21, 2017 7:32am Feb 21, 2017 7:32am
Quoting ziggy
I know this won't meet with most peoples criteria, but AU got to within 5 pips of the level & has now moved more than 15 pips away from it, for me that is enough to constitute a test & I won't be taking this level. Despite being pretty much the same "level", the EU has not yet pulled away 15 from the level & I'm still ok to trade it
Did you take the eur/usd trade mate?
  • #5,598
  • Feb 21, 2017 7:38am Feb 21, 2017 7:38am
Quoting Trader-Dale
{quote} Did you take the eur/usd trade mate?
no Dale, after I made that post it got to 1 pip off and then pulled away as Brink noted, I lost interest at that point. Spent all morning doing some testing work

Noticed there aren't any Cad levels today Been a bit of a bruiser that one just recently. Could use a Trump from the Donald to get things moving at the moment, Cheers Ziggy
  • #5,599
  • Feb 21, 2017 7:54am Feb 21, 2017 7:54am
Quoting ziggy
{quote} Noticed there aren't any Cad levels today
Oh Pleeezee..no CAD pleeze
gives me the creeps
Attached Image
  • #5,600
  • Feb 21, 2017 10:01am Feb 21, 2017 10:01am
I've had a few questions by PM, this one needs attachments so I'm answering it here

The volume profile I downloaded which Akift posted not looking the same as the one in your word document. Also when drawing the rectangle this one jumps for the whole day and not a specific target area...

Is this correct?

Sounds strange to me, the profile I use for a general picture is this one, this one does cover a whole day
Attached Image (click to enlarge)
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Akif's profile is this one, this is how it should appear after you have drawn a rectangle
Attached Image (click to enlarge)
Click to Enlarge Name: 2017-02-21_1558.png Size: 204 KB


cheers Ziggy
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