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Trader Dale - daily trading levels

  • #7,101
  • Apr 25, 2017 2:34pm Apr 25, 2017 2:34pm
Got a good one on UC just now. Another short i have my eye on
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So many in the Commercial section want to make me rich! :o
  • #7,102
  • Apr 25, 2017 4:15pm Apr 25, 2017 4:15pm
Quoting burntcandle
{quote} You are correct, I could have grabbed up 5pips, that's as close as mine got. But I had just read Ziggys 20/20. And he states not to adjust your SL, let it go. I had a 10 pip SL, and I was going to let it ride. Got burned.



I had no SL today from uj Dale levels ,one tp/be and one missed trade
On UJ sl12 be8 tp 10/30

Despite today it was kind of hard day to trade uj corrections
my own, weaker uj levels got tp/be be/be and sl/sl,
not bad when considering very weak jpy today
  • #7,103
  • Apr 25, 2017 4:27pm Apr 25, 2017 4:27pm
Quoting FX-Flux
Got a good one on UC just now. Another short i have my eye on {image}
imho they got stops around 1.36 and next uc will dive a bit.
  • #7,104
  • Apr 25, 2017 4:44pm Apr 25, 2017 4:44pm
Hello guys, here are new levels.
*Be carefull of AUD CPI news in the asian session.
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  • #7,105
  • Apr 26, 2017 12:18am Apr 26, 2017 12:18am
Ozzie was ruthless this morning --> spitted on the level and went the other way...
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  • #7,106
  • Apr 26, 2017 2:20am Apr 26, 2017 2:20am
Hello guys, updated levels for today are already at my website HERE (http://trader-dale.com/daily-levels/)
Happy trading!
  • #7,107
  • Apr 26, 2017 3:14am Apr 26, 2017 3:14am
Hope Trader Dale doesn't mind if I post the weekly EURJPY chart. There's that gap not filled yet below 119.00 and key level at 121.00 - Break below that and could be going back down to 115.00 and below.

Might be a good idea to look for shorts below 121.00 in my humble opinion
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  • #7,108
  • Apr 26, 2017 3:31am Apr 26, 2017 3:31am
How about short AU @ ~0.7517
??
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So many in the Commercial section want to make me rich! :o
  • #7,109
  • Apr 26, 2017 4:15am Apr 26, 2017 4:15am
Quoting Trader-Dale
Hello guys, updated levels for today are already at my website HERE (http://trader-dale.com/daily-levels/) Happy trading!
hi there,
could you please let us know what is the success rate so far since last October, I was wondering if it is a doable strategy for long term in the sense to compound the successful trades. The success rate not the strike rate.

Thanks in advance.
  • #7,110
  • Apr 26, 2017 4:31am Apr 26, 2017 4:31am
Quoting civilpes2001
{quote} hi there, could you please let us know what is the success rate so far since last October, I was wondering if it is a doable strategy for long term in the sense to compound the successful trades. The success rate not the strike rate. Thanks in advance.
hi civilpes - if you let me know exactly how you define success rate I'll apply it to my stats.

my criteria for a compoundable approach requires 3 things
1. A reasonable strike rate - I know not everyone uses this criteria, but I prefer little and often to occasional and big - at 20/20 the strike rate is around 65%
2. A return on investment of around 20% - my expectation using a 20 pip stop is to average over 5 pips profit per trade, so around 25% POI
3. A consistent looking graph from left to right
Attached Image (click to enlarge)
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If you use different critera let me know Cheers Ziggy
  • #7,111
  • Apr 26, 2017 4:39am Apr 26, 2017 4:39am
Quoting ziggy
{quote} hi civilpes - if you let me know exactly how you define success rate I'll apply it to my stats. my criteria for a compoundable approach requires 3 things 1. A reasonable strike rate - I know not everyone uses this criteria, but I prefer little and often to occasional and big - at 20/20 the strike rate is around 65% 2. A return on investment of around 20% - my expectation using a 20 pip stop is to average over 5 pips profit per trade, so around 25% POI 3. A consistent looking graph from left to right{image} If you use different critera let...

Hi Ziggy,

Success rate is how many trades have become profit (irrespective of the profit target) after getting into the trade.

I do have a compoundable approach in an excel sheet based on lot sizes.
thanks for the reply and the graph.
  • #7,112
  • Apr 26, 2017 4:43am Apr 26, 2017 4:43am
Quoting ziggy
{quote} hi civilpes - if you let me know exactly how you define success rate I'll apply it to my stats. my criteria for a compoundable approach requires 3 things 1. A reasonable strike rate - I know not everyone uses this criteria, but I prefer little and often to occasional and big - at 20/20 the strike rate is around 65% 2. A return on investment of around 20% - my expectation using a 20 pip stop is to average over 5 pips profit per trade, so around 25% POI 3. A consistent looking graph from left to right{image} If you use different critera let...
A small observation.
The first part of the chart is going straight up while the second part is more sideways which means 20/20 pips rule is subject to curve fitting. That means the rule was applied after the fact. So to be objective only the second part of the chart should be considered or the 10/12 pips rule for the entire period.

Keep up the good work.
  • #7,113
  • Apr 26, 2017 4:50am Apr 26, 2017 4:50am
Quoting civilpes2001
{quote} Hi Ziggy, Success rate is how many trades have become profit (irrespective of the profit target) after getting into the trade. I do have a compoundable approach in an excel sheet based on lot sizes. thanks for the reply and the graph.
mmm - I not sure this is what you mean, but if you mean how many trades have covered the spread and got at least 1 pip into profit then the answer is 80%, I cant see how that will help you.

for 5 pips it's 77%, 10 pips 74%, 15 pips 71%, 20 pips 65%............... and 20% just go straight through without looking back
  • #7,114
  • Apr 26, 2017 4:54am Apr 26, 2017 4:54am
I missed the EURUSD by fraction of a pip :/
  • #7,115
  • Apr 26, 2017 4:57am Apr 26, 2017 4:57am
Quoting ziggy
{quote} mmm - I not sure this is what you mean, but if you mean how many trades have covered the spread and got at least 1 pip into profit then the answer is 80%, I cant see how that will help you. for 5 pips it's 77%, 10 pips 74%, 15 pips 71%, 20 pips 65%............... and 20% just go straight through without looking back
Hey, thanks for the reply. this is exactly the reply I wanted.
Thanks for the info, very helpful one.
  • #7,116
  • Apr 26, 2017 5:03am Apr 26, 2017 5:03am
Quoting mindspeculat
{quote} A small observation. The first part of the chart is going straight up while the second part is more sideways which means 20/20 pips rule is subject to curve fitting. That means the rule was applied after the fact. So to be objective only the second part of the chart should be considered or the 10/12 pips rule for the entire period. Keep up the good work.
well any back result you can say is back fitted, it just so happens my personal pain threshold is 20 pips so that is what I was looking at from day1. I can tell you that if I wanted to back fit for best results I wouldn't use 20/20, but then in a months time it would be something else & so on. Even that second half of the chart is acceptable to me, it's just that the first half is pretty spectacular.

This breaks it down a little to see different periods, the 2nd half has to contend with some pretty big shifts brought about by political moves and has stood up pretty good I'd say
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  • #7,117
  • Apr 26, 2017 5:06am Apr 26, 2017 5:06am
I am in the EU trade, but as far as I'm concerned the UJ level 111.09 is now void
  • #7,118
  • Apr 26, 2017 5:17am Apr 26, 2017 5:17am
Quoting azm
I missed the EURUSD by fraction of a pip :/
I think you'll get another chance azm
  • #7,119
  • Apr 26, 2017 5:25am Apr 26, 2017 5:25am
Does anyone know what time we can expect the Donald to outline his tax reforms today? I will be standing well on the sidelines when he does but I cannot seem to find when we can expect it to happen
  • #7,120
  • Apr 26, 2017 5:32am Apr 26, 2017 5:32am
Quoting ziggy
Does anyone know what time we can expect the Donald to outline his tax reforms today? I will be standing well on the sidelines when he does but I cannot seem to find when we can expect it to happen
That's a good questions...
He's already twitting so better to have a look if he will say something about it.
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