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Trader Dale - daily trading levels

  • #6,321
  • Mar 16, 2017 10:05am Mar 16, 2017 10:05am
Quoting FX-Flux
{quote} https://www.forexfactory.com/attachment.php?attachmentid=2225056&d=1489321744 So you count how far the Futures level is from the Futures price and deduct/add that to the current Forex price? Interesting... {quote} I believe he trades Forex, as Futures is too expensive. Additionally, he mentions that he often triggers his forex trade if the level is reached on Futures.

Which broker do you use to get levels?
  • #6,322
  • Mar 16, 2017 10:23am Mar 16, 2017 10:23am
Quoting brink
{quote} Which broker do you use to get levels?
CME for futures. I use FXPro to translate into forex.
So many in the Commercial section want to make me rich! :o
  • #6,323
  • Mar 16, 2017 10:46am Mar 16, 2017 10:46am
I
Quoting majrou666
Did anybody take 113.03 level UJ? It finished with SL by 1 pip then turned up. Now EU is comming close.
I Took this swing trade.
  • #6,324
  • Mar 16, 2017 10:48am Mar 16, 2017 10:48am
USD CAD 1.333- tested
Always look for reasons not to take a trade
  • #6,325
  • Edited 2:22pm Mar 16, 2017 12:05pm | Edited 2:22pm
Quoting brink
{quote} Which broker do you use for getting the levels? My levels are quite different from Dale and for E/J and A/J the performance is not that great
Hi Brink,
The setup I'm using to look for levels is kind of simple and I stumbled on it by accident:
I use the MT5 Demo directly from the metaquotes hompepage (server also "MetaQuotes-Demo") together with two indicators (from that funny page that pops up after installing the platform...MQL5 comunity or something). One is drawing daily profiles and I have set the timeshift to begin the daily profile at London open. The other one is an individual composite Profile. I mainly use the daily profile but I will I also look at the composite profile in order to:

1. look if I want to adjust the level a few pips because of a strong composite level close to the daily level
2. look for confirmation for a level from the daily profile that I would otherwise be less confident to trade.

With this tool we can not find all levels Dale is posting (We don't have true futures volume here like he is using, no volume footprint etc.) and not always exactly too the pip but some of them and many times extremely close or even to the pip.
I think we don't even need to find all exactly the same levels all the time. Sometimes putting the level a pip lower will prevent you from entering the trade, another time it will be the reason you could take profit on the trade because otherwise you would not have reached your TP of +10. All we are aiming for is to get a statistical edge in the market and so far it doesen't seem to be working all that bad for me. I must admit though that if Dale publishes a similar level to one that I had already marked I will 99% of the time adjust the level to Dales values - he is still the Pro with this method!

I will try to upload the indicators but I'm not sure If I can because my account is verry new I don't have all the features enabled yet.

Hope I could help
Cheers

Attached File(s)
File Type: zip volume profile mt5.zip   27 KB | 241 downloads
  • #6,326
  • Mar 16, 2017 12:18pm Mar 16, 2017 12:18pm
Quoting Jako
USD CAD 1.333- tested
damn, 2 levels today tested without us!
  • #6,327
  • Mar 16, 2017 12:20pm Mar 16, 2017 12:20pm
I made my first video! Not the best but could have be worse I suppose
have a look guys: Intraday levels commentary (https://www.youtube.com/watch?v=Vrz22g1YmKY)
https://www.youtube.com/watch?v=Vrz22g1YmKY
  • #6,328
  • Mar 16, 2017 12:43pm Mar 16, 2017 12:43pm
Hi Dale
cool video
Ive looked at your trading view thread - thanks for posting all the charts with comments
  • #6,329
  • Mar 16, 2017 2:15pm Mar 16, 2017 2:15pm
Quoting Trader-Dale
I made my first video! Not the best but could have be worse I suppose have a look guys: Intraday levels commentary (https://www.youtube.com/watch?v=Vrz22g1YmKY) https://www.youtube.com/watch?v=Vrz22g1YmKY
This is great, thanks for posting it!
  • #6,330
  • Mar 16, 2017 2:20pm Mar 16, 2017 2:20pm
Quoting Trader-Dale
I made my first video! Not the best but could have be worse I suppose have a look guys: Intraday levels commentary (https://www.youtube.com/watch?v=Vrz22g1YmKY) https://www.youtube.com/watch?v=Vrz22g1YmKY
Excellent Video Mate !
You make it Look so easy there .....even I can now 'pundit ' my way out within a herd of real profs here.
Such was the quality of the video: clear, concise and (as granny said)..a picture speaks > 1000 words. ..well in this case, a 'video.'
Really hope to have more of these video tutorials from you in the future !!
  • #6,331
  • Mar 16, 2017 2:29pm Mar 16, 2017 2:29pm
Mate Dale,
great job . You are a gifted teacher. Pleasure to follow your opinion.
Regards,

F.G.
  • #6,332
  • Mar 16, 2017 2:53pm Mar 16, 2017 2:53pm
UC touched
  • #6,333
  • Mar 16, 2017 2:55pm Mar 16, 2017 2:55pm
Quoting Trader-Dale
I made my first video! Not the best but could have be worse I suppose have a look guys: Intraday levels commentary (https://www.youtube.com/watch?v=Vrz22g1YmKY) https://www.youtube.com/watch?v=Vrz22g1YmKY
Wow! What a great help that video was. I think I learned more in that one video than a whole week of sorting out the whys and wherefores of how you go about deciding from Profiles what is a more probable trade. Thanks again for the great training I get right here.

This thread, I tell you, well,... it's probably the closest I'll ever get to sitting in on a live trading room. Not just Dale's offerings but everybody's input and response. Thanks all of you so much. I don't write often but I study a lot and this thread takes up about 95% of my thread following time.

Thank You Dale and All!
  • #6,334
  • Mar 17, 2017 2:49am Mar 17, 2017 2:49am
Quoting Trader-Dale
I made my first video! Not the best but could have be worse I suppose have a look guys: Intraday levels commentary (https://www.youtube.com/watch?v=Vrz22g1YmKY) https://www.youtube.com/watch?v=Vrz22g1YmKY
Thank you Trader Dale for your time and effort in providing this material. Very much appreciated.
FL
  • #6,335
  • Mar 17, 2017 3:23am Mar 17, 2017 3:23am
Quoting Trader-Dale
I made my first video! Not the best but could have be worse I suppose have a look guys: Intraday levels commentary (https://www.youtube.com/watch?v=Vrz22g1YmKY) https://www.youtube.com/watch?v=Vrz22g1YmKY
Hello Dale, are there any levels for today, 17 March?
  • #6,336
  • Mar 17, 2017 4:10am Mar 17, 2017 4:10am
Quoting Trader-Dale
I made my first video! Not the best but could have be worse I suppose have a look guys: Intraday levels commentary (https://www.youtube.com/watch?v=Vrz22g1YmKY) https://www.youtube.com/watch?v=Vrz22g1YmKY
Thanks Dale, for your continous selfless efforts!!
To follow some of the previous comments, the video style helps even more and efficiently to understand the rationale behind your levels much better and quicker - at least me - . S if I would have one wish free for today: please keep it up, it's great.
cheers
  • #6,337
  • Mar 17, 2017 5:07am Mar 17, 2017 5:07am
Since Dale may have forsaken us today. Why not use his video and come up wit your own levels? Take less risk per trade and Learn
So many in the Commercial section want to make me rich! :o
  • #6,338
  • Mar 17, 2017 5:22am Mar 17, 2017 5:22am
Loved the video Dale, was pretty good. For the rest of you regulars, can I suggest you PM Dale a supporting Testimony that he can publish? I think that's the least we can do to support him in his constant endeavour to support us all. Hope you don't mind me making the suggestion Dale ;-)
Take 1 step forward, two small steps back
  • #6,339
  • Mar 17, 2017 6:52am Mar 17, 2017 6:52am
Quoting Trader-Dale
I made my first video! Not the best but could have be worse I suppose have a look guys: Intraday levels commentary (https://www.youtube.com/watch?v=Vrz22g1YmKY) https://www.youtube.com/watch?v=Vrz22g1YmKY
Great video! Thank you so much Dale.

I hope you don't mind if I ask one question.... 57 seconds into the video on the EU chart you pinpoint where the buying activity within the sideways action started at 1.0633.
How do you see that particular price and not say 10 pips further down- (or am I audacious for asking)?
Always look for reasons not to take a trade
  • #6,340
  • Mar 17, 2017 6:58am Mar 17, 2017 6:58am
Maybe the reason for no levels today is the G20 meeting all day - it's marked as red news on the calendar?

I also tried to upload an example setup with the mt5 indicator on E/J but I dont know how to post it in a way that it will show as a picture - in the preview it was showing as a file to click and download instead of just the picture in the thread (it`s a jpeg file).
Anyways it played out by now so no need to post it in hindsight. If I figure out how to post it properly I might upload a fresh one next week.

Have a great weekend everyone!
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