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Trader Dale - daily trading levels

  • #7,201
  • Apr 28, 2017 11:18am Apr 28, 2017 11:18am
Quoting Neo1
{quote} why you didnt consider a short level on EURUSD today??

I have to say that I'm a little perplexed along with you Neo.

Taking a good look at the chart, the 10945/6 area was tested twice before and failed. Naturally a good level to open a short which proved to be the case today.

I never noticed because I don't trade these levels as a rule but maybe I need to take a much deeper look!
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1.png Size: 39 KB
  • #7,202
  • Apr 28, 2017 11:27am Apr 28, 2017 11:27am
Quoting jmtini
{quote} I have to say that I'm a little perplexed along with you Neo. Taking a good look at the chart, the 10945/6 area was tested twice before and failed. Naturally a good level to open a short which proved to be the case today. I never noticed because I don't trade these levels as a rule but maybe I need to take a much deeper look! {image}
we dont have a futures chart with volume profile to judge the decision DALE made
  • #7,203
  • Apr 28, 2017 11:32am Apr 28, 2017 11:32am
Quoting Sandmann
{quote} Got the 2nd on as well... The 1st one was missed by a few pips. Enjoy your weekend lads {image}
Haha love the airplane icons
So many in the Commercial section want to make me rich! :o
  • #7,204
  • Apr 28, 2017 11:47am Apr 28, 2017 11:47am
Quoting FX-Flux
{quote} Haha love the airplane icons
took off without me
  • #7,205
  • Apr 28, 2017 11:47am Apr 28, 2017 11:47am
Quoting Neo1
{quote} we dont have a futures chart with volume profile to judge the decision DALE made
I don't really think we need a futures chart with volume profile to judge every level to trade from Neo

You are allowed to use your own judgement sometimes. It's not rocket science!
  • #7,206
  • Apr 29, 2017 5:31am Apr 29, 2017 5:31am
Quoting dafa
{quote} Hi, I still don't understand why you trust in that level when data for this market orders are only from your broker. I don't say it doesn't work but in forex there isn't central order book unlike of stock or futures. Moreover, every broker has its own data so lot of traders has different levels. Is't true?
In the futures market there is one central exchange and so for the futures market we know 100% it contains all trades. We can also see by comparing the profile of the futures market and the profile from individual brokers that by and large they are the same, not exactly but the high volume cluster areas tend to be. It is true that the POC can vary, and personally I don't use the spot market POC unless I can see a breakaway from it. So whilst not 100% it is nevertheless pretty darn close, close enough for me to use anyway.

As far as Dales levels are concerned he does use the futures market to identify where they are, and therefore they do reflect the true volume for that market.

One thing you can say for certain is there is reason behind using volume for identifying trading locations, it is only volume that can ever move the market and the market never moves because an oscillator says the market is over bought/undersold etc - change the timeframe and the oscillator can move from overbought to oversold etc. Volume traded at a location is the same no matter what the timeframe - doesn't mean it always works but it works often enough to provide an edge. As long as the edge exceeds the cost of the trade, spread/commission, then over time it plays out and so that is why I'm prepared to trust it
  • #7,207
  • Edited 3:28pm Apr 29, 2017 6:06am | Edited 3:28pm
Quoting ziggy
{quote} In the futures market there is one central exchange and so for the futures market we know 100% it contains all trades. We can also see by comparing the profile of the futures market and the profile from individual brokers that by and large they are the same, not exactly but the high volume cluster areas tend to be. It is true that the POC can vary, and personally I don't use the spot market POC unless I can see a breakaway from it. So whilst not 100% it is nevertheless pretty darn close, close enough for me to use anyway. As far as Dales...

Very well put and very true indeed about oscillator indicators. Having said that I have to say that I don't use the CCI indi to find oversold/overbought countertrades. I use it for spotting divergence and it's excellent for confirming a buy/sell trade when the signal line approaches the zone. Have a look at the GBPJPY 15 min chart I've attached to see what I mean.

Have a look at this guys results (if you haven't done so already of course!) he's using volume and quite stunning trading results I must say. Best on FF by far: https://www.forexfactory.com/wizlon32#acct.59 Not to say that I want to start scalping but he's a pro at it
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM15.png Size: 50 KB
  • #7,208
  • Apr 29, 2017 6:14pm Apr 29, 2017 6:14pm
Quoting ziggy
{quote} It's not a level that I can see without using the futures data, but this is how I expect it came about {image}
Now this is a level i couldn't spot.

Volume seemed quite evenly spread - doesn't have the nice "void" you look to place your TP in. I couldn't personally pick an exact price to place a sell. I wouldn't have even considered it.

I have been looking at 4hr charts with volume profile recently and have found you can apply the same method. A recent one on UJ is around 109.98 TP/SL 25pips.
So many in the Commercial section want to make me rich! :o
  • #7,209
  • Apr 29, 2017 9:22pm Apr 29, 2017 9:22pm
Quoting ziggy
{quote} In the futures market there is one central exchange and so for the futures market we know 100% it contains all trades. We can also see by comparing the profile of the futures market and the profile from individual brokers that by and large they are the same, not exactly but the high volume cluster areas tend to be. It is true that the POC can vary, and personally I don't use the spot market POC unless I can see a breakaway from it. So whilst not 100% it is nevertheless pretty darn close, close enough for me to use anyway. As far as Dales...
How to find spot price using futurES PRICE ??
  • #7,210
  • Apr 29, 2017 11:38pm Apr 29, 2017 11:38pm
Hi,

Can anyone tell me what is the maximum standard lot one can trade with the single trade. I am asking this mainly because theatrically one can make enough money in certain period of time so that it will be enough for the lifetime. I am attaching a file which shows exactly that. I know that in practice it is not possible to trade huge amount of standard lots. Hence I am asking if anyone have an idea about the maximum lot size.


P.S.: You can change the pip value, accordingly the the amount will be calculated.
Attached File(s)
File Type: xls do-able-auto-rev.xls   179 KB | 378 downloads
  • #7,211
  • Apr 30, 2017 10:39am Apr 30, 2017 10:39am
Quoting civilpes2001
Hi, Can anyone tell me what is the maximum standard lot one can trade with the single trade. I am asking this mainly because theatrically one can make enough money in certain period of time so that it will be enough for the lifetime. I am attaching a file which shows exactly that. I know that in practice it is not possible to trade huge amount of standard lots. Hence I am asking if anyone have an idea about the maximum lot size. P.S.: You can change the pip value, accordingly the the amount will be calculated. {file}
Wrong thread?

Those numbers are a little bit ridiculous, although I agree a plan is not a bad thing
  • #7,212
  • Apr 30, 2017 11:10am Apr 30, 2017 11:10am
Quoting civilpes2001
Hi, Can anyone tell me what is the maximum standard lot one can trade with the single trade. I am asking this mainly because theatrically one can make enough money in certain period of time so that it will be enough for the lifetime. I am attaching a file which shows exactly that. I know that in practice it is not possible to trade huge amount of standard lots. Hence I am asking if anyone have an idea about the maximum lot size. P.S.: You can change the pip value, accordingly the the amount will be calculated. {file}
I think it depends on the broker. Link shows biggest order sizes per currency on interactive brokers. https://www.interactivebrokers.com/en/index.php?f=5479
Motivation comes from within
  • #7,213
  • Edited 5:52pm Apr 30, 2017 5:40pm | Edited 5:52pm
IMPORTANT

Hello guys,
you may have noticed that I have changed my website a bit and added a Members Area. I will now be publishing my levels (intraday + swing) only there and take care of my members as much as I can there. You are all very welcome to my members area. HERE (http://www.members.trader-dale.com/forex-trading-course/)
Nothing better than to have my favourite guys from forex factory there! Really!
If you are wondering whether I will still run this thread - Yes I will but I won't be able to spend that much time here since I will take care of my members in the first place. I will also publish my daily levels here only from time to time. My members will have them every day, of course.
I made this step because I feel it would be better to have smaller and closer community of traders to commit myself to.
Happy trading my friends. I am looking forward to having you in my members area!
https://www.youtube.com/watch?v=YzU8YKMZhkk
  • #7,214
  • Apr 30, 2017 6:00pm Apr 30, 2017 6:00pm
Quoting Trader-Dale
IMPORTANT Hello guys, you may have noticed that I have changed my website a bit and added a Members Area. I will now be publishing my levels (intraday + swing) only there and take care of my members as much as I can there. You are all very welcome to my members area. HERE (http://www.members.trader-dale.com/forex-trading-course/) Nothing better than to have my favourite guys from forex factory there! Really! If you are wondering whether I will still run this thread - Yes I will but I won't be able to spend that much time here since I...
ah its a shame, now you are probs about to get a ban or commercial member :/
  • #7,215
  • Apr 30, 2017 6:19pm Apr 30, 2017 6:19pm
Quoting Don96
{quote} ah its a shame, now you are probs about to get a ban or commercial member :/
Probably just commercial member. Can't blame him though. The content is still out there, if anyone wants to learn, there's plenty to learn from this thread alone, it's not like he's removing the information / links / indicators, it's all still here. Personally I'm looking forward to it.

If anyone's mad that he's going commercial, just keep in mind that he's been doing this for free for a couple of months now. There are a lot of 'gurus' that offer the holy grail with a different name with no proof. Dale gave everything for free for a couple of months, and for that I'm grateful. Now he's going commercial but still keeping true to the way he trades. I don't see any harm in that.

Keep it up Dale.
  • #7,216
  • Apr 30, 2017 6:30pm Apr 30, 2017 6:30pm
Quoting Fxentropy
{quote} Hey Dale, I like your style and i like your approach ... I hope you will stay like that and the commercial tag will never appear on your nickname Sincerely, Keep it up mate - FXE
That day ..... is here! I was sure about that tho! pitty....
"What would you attempt to do, if you knew your success was a certainty?"
  • #7,217
  • Apr 30, 2017 8:52pm Apr 30, 2017 8:52pm
Quoting Trader-Dale
IMPORTANT Hello guys, you may have noticed that I have changed my website a bit and added a Members Area. I will now be publishing my levels (intraday + swing) only there and take care of my members as much as I can there. You are all very welcome to my members area. HERE (http://www.members.trader-dale.com/forex-trading-course/) Nothing better than to have my favourite guys from forex factory there! Really! If you are wondering whether I will still run this thread - Yes I will but I won't be able to spend that much time here since I...
Ha! Figured that was coming. Now it's time to pay up if you want the magicians levels. I for one have never profited off of any of his levels, and have lost plenty. I know that's not the same story for most. My timing is just bad. But there's others on here that have posted their own levels from time to time that I have followed, and did real well. Hope to continue seeing great posts.
  • #7,218
  • Apr 30, 2017 11:37pm Apr 30, 2017 11:37pm
Quoting Trader-Dale
IMPORTANT Hello guys, you may have noticed that I have changed my website a bit and added a Members Area. I will now be publishing my levels (intraday + swing) only there and take care of my members as much as I can there. You are all very welcome to my members area. HERE (http://www.members.trader-dale.com/forex-trading-course/) Nothing better than to have my favourite guys from forex factory there! Really! If you are wondering whether I will still run this thread - Yes I will but I won't be able to spend that much time here since I...
Disappointing but we still have to thank you as you were generous enough with us last couple of months , besides you learned us how to use it.
thank you and good luck !
  • #7,219
  • Apr 30, 2017 11:58pm Apr 30, 2017 11:58pm
hahah, i knew it... dont be blind guys, that was his first purpose. that why he couldn't show his statement because he doeskin trade.
Ariel
  • #7,220
  • May 1, 2017 12:43am May 1, 2017 12:43am
This was part of the plan all the time using forex factory to get customers. It was very much expected and not a free ride. Shame on you Trader Dale you called it free.
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