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Trader Dale - daily trading levels

  • #6,781
  • Edited 12:46am Apr 9, 2017 12:16am | Edited 12:46am
Quoting Elhemano1
{quote} $5000 * 0.02 (2%) = 100 $. 100/12 pips = 8,4 (0.84 lots) Again. 7 limit orders risking 2% per trade with 100:1 leverage. So my question is still can you place the orders without using all the margin? Its not 10% of the account.
Any pending order (Buy/Sell Limit/Stop) doesn't affect margin until it is filled. Only market orders/open positions does.
You may check on demo account.
BR, alex
  • #6,782
  • Apr 9, 2017 12:38am Apr 9, 2017 12:38am
Hi Dale,
have been using the weekend to read up (some more) on market profile
and I have a question for you: Do you consider Virgin POC's at all when you are
analyzing your charts?

Thanks again for your commitment to this thread :-)

Ed
Failure to plan, is a plan to failure...
  • #6,783
  • Apr 9, 2017 1:14am Apr 9, 2017 1:14am
Quoting sevan62
{quote} Any pending order (Buy/Sell Limit/Stop) doesn't affect margin until it is filled. Only market orders/open positions does. You may check on demo account.
Thanks for the answer!
  • #6,784
  • Apr 10, 2017 2:38am Apr 10, 2017 2:38am
Anyone waiting for Dales levels, whizz on over to his website. Trader-dale.com sorry I can't post them as am mobile.
Heres to a profitable week of trading :-)
Take 1 step forward, two small steps back
  • #6,785
  • Apr 10, 2017 2:51am Apr 10, 2017 2:51am
Quoting antonym
Hi everyone, I just downloaded the market_profile indicator from dale's website and noticed it's extremely slow. So I tinkered it a bit. It's faster now. I am a silent reader of the method and am very grateful for the valuable info Dale shared. {file}
What do different color represent in the market profile that you have posted? I does load extremely fast. Thanks
  • #6,786
  • Apr 10, 2017 3:19am Apr 10, 2017 3:19am
Quoting brink
{quote} What do different color represent in the market profile that you have posted? I does load extremely fast. Thanks
I think it represents the asian session, london session and us session.
  • #6,787
  • Apr 10, 2017 3:38am Apr 10, 2017 3:38am
Quoting antonym
{quote} I think it represents the asian session, london session and us session.
I wouldn't focus on the colours as they are for the different sessions the focus is on the shape and the levels they produce. Take a look at the training docs Dale has created.
Take 1 step forward, two small steps back
  • #6,788
  • Apr 10, 2017 3:42am Apr 10, 2017 3:42am
Forgive the obvious point if you know this already, but don't forget here in the UK Friday 14th and following Monday 17th are bank holidays.
Take 1 step forward, two small steps back
  • #6,789
  • Apr 10, 2017 4:01am Apr 10, 2017 4:01am
Hi Fellows!

Before our Trader-Dale hopefully publishes the all-enlightening explanation of the new levels, I myself tried to to some analysis of why he would have chosen those levels for EU, JPY and CAD. Could be that there is zero accordance really to Dales interpretation. Anyway, I am keen for the reasons behind those levels.

Cheers!

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  • #6,790
  • Apr 10, 2017 4:19am Apr 10, 2017 4:19am
Quoting valesch
Hi Fellows! Before our Trader-Dale hopefully publishes the all-enlightening explanation of the new levels, I myself tried to to some analysis of why he would have chosen those levels for EU, JPY and CAD. Could be that there is zero accordance really to Dales interpretation. Anyway, I am keen for the reasons behind those levels. Cheers! {image} {image} {image}
Just my 2 cent's, EU if you go back to the period from 20th feb to 10 march you can see a significant resistance at this level
or maybe I am completely clueless :-)

Ed
Failure to plan, is a plan to failure...
  • #6,791
  • Edited 4:43am Apr 10, 2017 4:24am | Edited 4:43am
Quoting valesch
Hi Fellows! Before our Trader-Dale hopefully publishes the all-enlightening explanation of the new levels, I myself tried to to some analysis of why he would have chosen those levels for EU, JPY and CAD. Could be that there is zero accordance really to Dales interpretation. Anyway, I am keen for the reasons behind those levels. Cheers! {image} {image} {image}
For eurusd:
I think you can see the last marketprofile is a combined profile:
1) Neutral-profile (it is not a p-profile because we did not saw an up-move)
combined with
2) D-profile (market is balanced)

So the blue line (POC of the D-Profile) you pointing to is a pofit-area instead of a resistance or support area......

Maybe we could see the top of that D-profile as resistance (1.0602) ...that would a possibility I think. But then you can ask if the level above is already tested.... in that case you come to around the 1.0616 level. That's how I see the level Dale gave today

@Dale: please correct me if I'm wrong...!
You can manage risk, but you can't manage the return
  • #6,792
  • Apr 10, 2017 4:39am Apr 10, 2017 4:39am
Quoting S1-1
{quote} Just my 2 cent's, EU if you go back to the period from 20th feb to 10 march you can see a significant resistance at this level or maybe I am completely clueless :-) Ed
You ment the resistance as shown in the chart below?
Attached Image
You can manage risk, but you can't manage the return
  • #6,793
  • Apr 10, 2017 4:49am Apr 10, 2017 4:49am
Quoting HappyMe
{quote} You ment the resistance as shown in the chart below? {image}
Correct,

as I said, just my 2 cents
Failure to plan, is a plan to failure...
  • #6,794
  • Edited 6:03am Apr 10, 2017 5:04am | Edited 6:03am
Dale,

I have 2 little question:

1)
I understood that you normally trade the levels manually but in the asian session you trade the level(s) with limit orders.
If so are you putting then all the new levels for that day as limit orders in the trade station or are you only trading the jpy-pairs as limit orders? and in the morning you just remove them all again?

2)
The TD-lines indicator is deleting or refreshing all lines etc if switched to another TimeFrame, that's not that handy. Can you please send me the original-code maybe I can fix it. So that all my lines and text etc. is preserved if we change from TimeFrame.

Best Regards,
You can manage risk, but you can't manage the return
  • #6,795
  • Apr 10, 2017 6:39am Apr 10, 2017 6:39am
Quoting valesch
Hi Fellows! Before our Trader-Dale hopefully publishes the all-enlightening explanation of the new levels, I myself tried to to some analysis of why he would have chosen those levels for EU, JPY and CAD. Could be that there is zero accordance really to Dales interpretation. Anyway, I am keen for the reasons behind those levels. Cheers! {image} {image} {image}
very nice mate!
  • #6,796
  • Apr 10, 2017 6:40am Apr 10, 2017 6:40am
Little late but better than never
Daily levels commentary for 10.4.2017
https://www.youtube.com/watch?v=XxlAIejkt44
  • #6,797
  • Apr 10, 2017 6:46am Apr 10, 2017 6:46am
Quoting HappyMe
Dale, I have 2 little question: 1) I understood that you normally trade the levels manually but in the asian session you trade the level(s) with limit orders. ...,
I personally trade all mine with limit orders, others use the EA. Some set alarms. It's really down to you to decide.
I don't believe the indicator needs fixing.
If you use the Akift tool it will show you different levels as you move around the timeframe. I think the algorithm is sensitive to the information available hence you can zoom into a lower timeframe to get a more precise level.
Also noted some of the questions around the levels, Dale also uses futures to pinpoint his level. In an earlier part of this thread he explains how his levels are combination of the two, market profile and futures. The data source is premium rate I believe.
Am sure Dale will correct me later if any of this is wrong :-)
Take 1 step forward, two small steps back
  • #6,798
  • Apr 10, 2017 6:55am Apr 10, 2017 6:55am
Haha, nice. Thank you Dale! I guess I nailed CAD also the JPY price action from friday was pretty much very similar to that of 4th april.
As far EU is concerned, I guess I have to invest 10 bucks / month for Tradeview Pro.. the MT4 market profile was not accurate on that one.

Have a nice day you all!
  • #6,799
  • Apr 10, 2017 7:14am Apr 10, 2017 7:14am
Quoting DrBeercan
{quote} I personally trade all mine with limit orders, others use the EA. Some set alarms. It's really down to you to decide. I don't believe the indicator needs fixing. If you use the Akift tool it will show you different levels as you move around the timeframe. I think the algorithm is sensitive to the information available hence you can zoom into a lower timeframe to get a more precise level. Also noted some of the questions around the levels, Dale also uses futures to pinpoint his level. In an earlier part of this thread he explains how his...
Thanks for your comment.

For the indicator I think it needs fixing (well that's my view ofcourse). Because switching to another timeframe is deleting all other objects in the chart. With that all my previous resistance and support lines and text is deleted by just switching timeframes. I think that's not very handy....
You can manage risk, but you can't manage the return
  • #6,800
  • Apr 10, 2017 7:31am Apr 10, 2017 7:31am
I subscribed to tradingview pro, does anyone know why i have no access to the currency futures? Comes it only with premium subscribtion?
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