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Trader Dale - daily trading levels

  • #7,321
  • May 2, 2017 1:53pm May 2, 2017 1:53pm
Quoting Divergence
Market profile is time price opportunity charts tpo why trade forex with false price feeds when you can trade futures with real pricing by the way it can and I do use it based on volume for value areas and poc instead of time spent there
huh...?? there is no false price feed with MarketProfile TPO's....

The basic building blocks of the Market Profile are called Time Price Opportunities, or TPO's. Each half hour of the trading day is designated by
a letter. If a certain price is traded during a given half hour, the corresponding letter, or TPO, is marked next to the price.

That's different if you have the MarketProfile based on volume. That's indeed a sum of the contracts from only you broker at the different levels... that's not the compleet image...indeed!
You can manage risk, but you can't manage the return
  • #7,322
  • May 2, 2017 1:58pm May 2, 2017 1:58pm
Quoting Sandmann
{quote} Hi Iena, No I wouldn't take this one, the volume is simply too low. {image}
Well yeah I can see the difference between this one's volume and the USDCAD one.
Thanks to point it out.
  • #7,323
  • May 2, 2017 2:18pm May 2, 2017 2:18pm
Quoting Sandmann
{quote} Depends on how you look at things. In my opinion it is a level and a pretty viable one. And as we can see the price reacted to it pretty good in my books. Tested the level by 2 pips. If the upmove will continue this level might be a turning point. As i said the level is tested now {image}
Good level. I also got it and missed by 1 pip
  • #7,324
  • May 2, 2017 2:24pm May 2, 2017 2:24pm
Quoting HappyMe
{quote} huh...?? there is no false price feed with MarketProfile TPO's.... The basic building blocks of the Market Profile are called Time Price Opportunities, or TPO's. Each half hour of the trading day is designated by a letter. If a certain price is traded during a given half hour, the corresponding letter, or TPO, is marked next to the price. That's different if you have the MarketProfile based on volume. That's indeed a sum of the contracts from only you broker at the different levels... that's not the compleet image...indeed!
If your data comes from a fx broker it is false data cause the work in spread plus actual market price but thats your problem to deal with not me
  • #7,325
  • May 2, 2017 2:39pm May 2, 2017 2:39pm
Below my 2cents....what you guys think? Did I made my homework correct?!

eurusd
long 1,0911
long 1,0866
I'm not sure if Dale is giving levels for this pair because the pair is in Balance now since 7 days... normally it can break to any direction with force.... So I quess Dale isn't given levels for EURUSD

audusd
short 0,7487

gbpusd
short 1,2947

usdcad
long 1,3663

usdjpy
Long 111,83

ps. Please don't follow this levels blind...I'm still learning!!
You can manage risk, but you can't manage the return
  • #7,326
  • May 2, 2017 4:35pm May 2, 2017 4:35pm
Quoting spynoza
My plan, TP 10 SL 12 UJ short 112.03 AU long 0.7515 UC long 1.3628 // 1.3603
UJ -12 , AU +10 ... still learning... cancel UC
Follow the flow of water in a stream
  • #7,327
  • May 2, 2017 11:39pm May 2, 2017 11:39pm
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2017-05-03 at 07.36.59.png Size: 192 KB
So many in the Commercial section want to make me rich! :o
  • #7,328
  • Edited 12:49am May 3, 2017 12:33am | Edited 12:49am
Quoting HappyMe
Below my 2cents....what you guys think? Did I made my homework correct?! eurusd long 1,0911 long 1,0866 I'm not sure if Dale is giving levels for this pair because the pair is in Balance now since 7 days... normally it can break to any direction with force.... So I quess Dale isn't given levels for EURUSD audusd short 0,7487 gbpusd short 1,2947 usdcad long 1,3663 usdjpy Long 111,83 ps. Please don't follow this levels blind...I'm still learning!!
Below my 2cents....what you guys think? Did I made my homework correct?!

eurusd
long 1,0911 => EDIT: worked out nicely
long 1,0866
I'm not sure if Dale is giving levels for this pair because the pair is in Balance now since 7 days... normally it can break to any direction with force.... So I quess Dale isn't given levels for EURUSD

audusd
short long 0,7487 => EDIT: typing error sorry for that: Long ofcourse!! POC is going higher over the last days... so in that direction we need to look for a possible trade

gbpusd
short 1,2947 => EDIT: worked out nicely

usdcad
long 1,3663

usdjpy
Long 111,83

ps. Please don't follow this levels blind...I'm still learning!!
You can manage risk, but you can't manage the return
  • #7,329
  • May 3, 2017 1:13am May 3, 2017 1:13am
Quoting Iena
{quote} Using the same way of thinking, do you think this level on AUDUSD long around 0.75033 could be a viable one? {image}
EJ 12188 is also mine .. ;-)
.. I just use it a differrent way and combine it with my Choros trading when I´m on my workspace
Stay tuned
Guido
Risiko birgt immer auch die Chance.
  • #7,330
  • May 3, 2017 1:28am May 3, 2017 1:28am
Quoting Trader-Dale
Hello guys, thanks for your kind words in your comments. There are two pretty nice short levels on aud/usd today. The first and closest one is at 0.7530. Try to find the second. If you use market profile you will find it I am sure.
Sorry to say that one didn't work out. However, second level was nice if only had been using the ziggy method for both haha.
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So many in the Commercial section want to make me rich! :o
  • #7,331
  • May 3, 2017 1:50am May 3, 2017 1:50am
Quoting HappyMe
{quote} Below my 2cents....what you guys think? Did I made my homework correct?! eurusd long 1,0911 => EDIT: worked out nicely long 1,0866 I'm not sure if Dale is giving levels for this pair because the pair is in Balance now since 7 days... normally it can break to any direction with force.... So I quess Dale isn't given levels for EURUSD audusd short long 0,7487 => EDIT: typing error sorry for that: Long ofcourse!! POC is going higher over the last days... so in that direction we need to look for a possible trade...
Excellent news, great to see people still putting in their levels and giving it a go. I have steered clear of EU, some point this week the brokers will change the terms ahead of the elections. So would prefer not to get stuck in a trade. But great job on getting a win.
AU - tough one, I did two trades this week and got a short +30 pip win from 0.75223 (last night) and a +33 pip win Long from 0.74981 (on Monday night) which was back up to the trend line, looking at it from the monthly and weekly view the trend is down. 63 pips in two days probably enough and satisfy me for the week whilst I focus on work!
7487 is at the bottom of the day low with quite a battle going on there stuck between what I see as a support and resistance zone, I hope it works for you.
Not looked at your other levels. But am switching to trading by using a level as a target rather than putting in a trade where there is a clear battle between bulls and bears. But don't take it as gospel I am a newby to :-)

I am probably now going to drop in from time to time to see how people are doing than to trade levels in this way by looking for a rapid reaction as for me I struggle to find the time to watch them closely. Good luck to you all with your trading for the rest of the week.
Take 1 step forward, two small steps back
  • #7,332
  • May 3, 2017 2:02am May 3, 2017 2:02am
Quote
Hello guys,My friend and professional trader Ziggy (the author of Ziggys alternative approach (http://trader-dale.com/alternative-approach-by-ziggy/)) was kind enough to keep track of all trades that I published since September 2016. He recently posted some very nice results of an extremely simple method of trading my levels.

Gosh, this is ridiculous. Dale called you a "professional" trader Ziggy. There's nothing a salesman won't write to lure up other customers.

Ziggy, if you are still reading this thread, come prove to others in this thread you are a "professional" trader lol. And tell us honestly that your 20/20 approach really made "real" money and not some demo money or 0.01 lot positions. Because with $99 a month for the membership, i would expect a better result from his website.

So much disappointment still after a night's rest. Dale, man dale, why would you have to be like this? There really is no one genuine here in FF huh.
  • #7,333
  • May 3, 2017 2:19am May 3, 2017 2:19am
Can I dare passing by, and ask if you think my1.0890 is a floor, to put an long order?
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All the best to all of you. But don't follow me. I am a learner.
  • #7,334
  • May 3, 2017 2:39am May 3, 2017 2:39am
Quoting HappyMe
{quote} Below my 2cents....what you guys think? Did I made my homework correct?! eurusd long 1,0911 => EDIT: worked out nicely long 1,0866 I'm not sure if Dale is giving levels for this pair because the pair is in Balance now since 7 days... normally it can break to any direction with force.... So I quess Dale isn't given levels for EURUSD audusd short long 0,7487 => EDIT: typing error sorry for that: Long ofcourse!! POC is going higher over the last days... so in that direction we need to look for a possible trade...
I would cancel the audusd trade now... looks it is not working as wished...
it just looked if the retrace is finished... 0.7477 is th enext line to look for as possible support barier. anyway this is not a line to be traded as a long-trade without any bounce indications.

I think Dale would say...just let it run.
You can manage risk, but you can't manage the return
  • #7,335
  • May 3, 2017 2:52am May 3, 2017 2:52am
Quoting Oddbjorg
Can I dare passing by, and ask if you think my1.0890 is a floor, to put an long order? {image}
I'll be very careful today with USD, there are some macro news that probably will move EURUSD outside this trading range

13:30 UK time : ADP non farm employment change
15:00 UK time: ISM non manufactoring PMI

and the main event

19:00 UK time: federal fund rates and FOMC statement
  • #7,336
  • May 3, 2017 2:54am May 3, 2017 2:54am
Quoting HappyMe
{quote} Below my 2cents....what you guys think? Did I made my homework correct?! eurusd long 1,0911 => EDIT: worked out nicely long 1,0866 I'm not sure if Dale is giving levels for this pair because the pair is in Balance now since 7 days... normally it can break to any direction with force.... So I quess Dale isn't given levels for EURUSD audusd short long 0,7487 => EDIT: typing error sorry for that: Long ofcourse!! POC is going higher over the last days... so in that direction we need to look for a possible trade...
Below my 2cents....what you guys think? Did I made my homework correct?!

My audusd level did not worked out as planned!
You can manage risk, but you can't manage the return
  • #7,337
  • May 3, 2017 3:12am May 3, 2017 3:12am
Quoting Iena
{quote} I'll be very careful today with USD, there are some macro news that probably will move EURUSD outside this trading range 13:30 UK time : ADP non farm employment change 15:00 UK time: ISM non manufactoring PMI and the main event 19:00 UK time: federal fund rates and FOMC statement
indeed High impact news do not trade any levels around those news-events
You can manage risk, but you can't manage the return
  • #7,338
  • May 3, 2017 3:26am May 3, 2017 3:26am
Quoting Iena
{quote} I'll be very careful today with USD, there are some macro news that probably will move EURUSD outside this trading range 13:30 UK time : ADP non farm employment change 15:00 UK time: ISM non manufactoring PMI and the main event 19:00 UK time: federal fund rates and FOMC statement
Thank you
All the best to all of you. But don't follow me. I am a learner.
  • #7,339
  • May 3, 2017 4:06am May 3, 2017 4:06am
Quoting CrocodileRex
{quote} Gosh, this is ridiculous. Dale called you a "professional" trader Ziggy. There's nothing a salesman won't write to lure up other customers. Ziggy, if you are still reading this thread, come prove to others in this thread you are a "professional" trader lol. And tell us honestly that your 20/20 approach really made "real" money and not some demo money or 0.01 lot positions. Because with $99 a month for the membership, i would expect a better result from his website. So much disappointment still after a night's rest. Dale, man dale, why would...
ok - this is most likely my final post in this thread and probably also on FF, I have nothing to hide and so will say it how it is right now. First of I liked the way Dale was setting up his trades, got into the thread early and so didn't have to read 1000's of posts to get the flavour, and as far as I am concerned because of what I "know" (as much as anyone can know) that this style of trading has an edge. I have my own way of trading which is completely different and addresses a different market, I wanted to be part of something that I was certain had merit and that's way I started to post. If you check me out you'll see I've been on FF for some time but prior to posting on Dales thread have made very few posts.

Someone commented that Dale noted me as a friend - well I don't personally know Dale, but like a great many other people I've corresponded with but not actually met, yes I consider him a friend.

As you've noted I have had the tag professional trader applied. I didn't choose that tag but what is a professional trader? Well I'm not employed by anyone to trade that's for sure, and I don't pull out £50,000 per month either - so maybe I'm not a professional trader. But I do and have for several years relied entirely upon trading for my income, that is not strictly true as I now also receive a pension. I'm not rich, but I have enough, I own everything I have debt free and can do pretty much what I want. So pro trader might be pushing it, but I trade for a living.

I do trade Dales levels, and have learnt enough to be able to trade my own, and have found them to be rewarding. The spreadsheet I prepared & maintained is so I have a track record, it would be madness on my part not to pay any attention to what I find out as time goes by. Is it backfitting? Well any form of trading based upon past results is backfitting, if you test something and it fails - you dont trade it, if it succeeds you might - in which case it's back fitted. I have gone to great pains to point out that the sample size is small, but growing. On my own trades I have what I consider to be a relevant sample size and my own trading performs well with what I consider an acceptable tolerance range, as far as Dales trades go I don't have that level of back info, but I use what I have and will continue to add to it. The data is real, if there are any mistakes in it they are just that, finger mistakes - but other than that it's raw and correct. If anyone else has the same level of information it would be great if they could also share and then you'd have more than just my say so on what the results have been.

I will not under any circumstances offer my account for scrutiny, it is private and stays that way. Depending on what I trade I tend to trade at between £10 and £50 per pip, I have traded at £100 per pip and that is my discomfort level, something I found is that as my pip value increases my decision making gets worse, so I tend not to trade at greater than £50 per pip in most cases. I only offer this because you asked if I trade cents, you will have to either take me at my word or not believe me, but my account stays private.

Would I recommend anyone trades the levels at a 10% risk, hell no I wouldn't - but if anyone was willing to take a big risk for a short (very short) period of time to grow a cents account into a $'s account then it's a way.

I'm not going to recommend to anyone what to do, it's entirely for each individual to decide if 99 bucks is too much. My experience of trading with Dales levels is a good one, I'm very well aware that not everyone has the same experience. I personally feel the approach is a good one, it is perfectly possible for anyone to go back through this thread, do a bit of back testing etc and in my opinion become a profitable trader. Some may find doing that too much effort and Dale is offering them an alternative, but at a price - each has to decide if it's a price worth paying.

As a final note, there were 3 levels traded last night, 2 of which I had myself, one of which I would not have traded had Dale not given the level - if you work on the basis of $1.25/£1 (yes I know it isn't) then that one extra trade would cover 5-6 months costs - and yes I'm aware the next 10 could all lose. So for me and my personal circumstances I think you'll know if I consider it worthwhile.

I'm sorry for the tone of this post, but I have never done anything other than try to help people in this forum and perhaps the tone reflects my feelings. Very best of luck to everyone, and I do genuinely mean that. Cheers Ziggy
  • #7,340
  • May 3, 2017 4:10am May 3, 2017 4:10am
Quoting HappyMe
{quote} Below my 2cents....what you guys think? Did I made my homework correct?! My audusd level did not worked out as planned!
That's a shame, there will always be other days. Better luck with the next one.
Take 1 step forward, two small steps back
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