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Trader Dale - daily trading levels

  • #7,581
  • May 11, 2017 3:40am May 11, 2017 3:40am
Quoting FX-Flux
{quote} Sorry to hear that. At least you got BE.
yeah it made a crazy move

what about USDJPY? did you take 114.06 long? to me it's been tested for 0.4 pips.....
  • #7,582
  • May 11, 2017 3:49am May 11, 2017 3:49am
What do you think about this level on USDCAD, where the big movement start this night?
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  • #7,583
  • May 11, 2017 4:00am May 11, 2017 4:00am
Quoting Iena
{quote} yeah it made a crazy move what about USDJPY? did you take 114.06 long? to me it's been tested for 0.4 pips.....
My EA tried to take it but I got 'Order Send Error 138' , My EA takes long positions if Bid price - spread/2 reaches level. I think this trade would trigger depending on your broker. Its tested now though.
So many in the Commercial section want to make me rich! :o
  • #7,584
  • May 11, 2017 4:06am May 11, 2017 4:06am
Quoting Iena
What do you think about this level on USDCAD, where the big movement start this night? {image}
Im not able to check at the moment. What does the volume look like at that level on futures?
So many in the Commercial section want to make me rich! :o
  • #7,585
  • May 11, 2017 4:37am May 11, 2017 4:37am
Quoting FX-Flux
{quote} Im not able to check at the moment. What does the volume look like at that level on futures?
Where do you check futures volume? Is it available on tradingview? Which broker provides it ? Is it Oanda or FXCM on trading view?
  • #7,586
  • May 11, 2017 4:40am May 11, 2017 4:40am
Quoting FX-Flux
{quote} Im not able to check at the moment. What does the volume look like at that level on futures?
this is the futures highlighted with fixed range

I'm not sure because it's look not so strong in volume, isn't it?
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  • #7,587
  • May 11, 2017 4:51am May 11, 2017 4:51am
Quoting brink
{quote} Where do you check futures volume? Is it available on tradingview? Which broker provides it ? Is it Oanda or FXCM on trading view?
CME group provide it.
So many in the Commercial section want to make me rich! :o
  • #7,588
  • May 11, 2017 4:55am May 11, 2017 4:55am
Quoting FX-Flux
{quote} My EA tried to take it but I got 'Order Send Error 138' , My EA takes long positions if Bid price - spread/2 reaches level. I think this trade would trigger depending on your broker. Its tested now though.
Send Error 138 => that's a requote error.

The requested price has become out of date or bid and ask prices have been mixed up. Don't know if the Refreshrates() function is used in the program..... Normally if it is, then this error should be gone....I think you can ask the developer he/she definitely want to look at it.....
You can manage risk, but you can't manage the return
  • #7,589
  • May 11, 2017 5:00am May 11, 2017 5:00am
Quoting Iena
{quote} this is the futures highlighted with fixed range I'm not sure because it's look not so strong in volume, isn't it? {image}
I'd be more tempted to short at 1.37155

Quoting HappyMe
{quote} Send Error 138 => that's a requote error. The requested price has become out of date or bid and ask prices have been mixed up. Don't know if the Refreshrates() function is used in the program..... Normally if it is, then this error should be gone....I think you can ask the developer he/she definitely want to look at it.....
Haha I'm the developer
So many in the Commercial section want to make me rich! :o
  • #7,590
  • May 11, 2017 6:05am May 11, 2017 6:05am
Guys, I have 3 questions:

1 - What is the advantage in using futures volume? I know in Spot Market we don´t have centralized volume but Is not OK with TPO? Does it worth it to pay the TradingView account?

2 - Are you using Dale´s TM 1.4? For me seems to be working but I´m beginner in MP.

3 - Do you think using order flow could help us to improve performance or is OK with MP only?

Thanks in advance for your answers
  • #7,591
  • May 11, 2017 6:09am May 11, 2017 6:09am
Quoting Johnramb0
Guys is anyone here using ziggy's 20 pip sl tp rule? I've been thinking about this approach.. Ziggy says not to move stop to be at any point i.e. no trade management as it makes no difference to the results. Since we don't move the stop to break even when the trade is 15 pips in profit, by this logic shouldn't we also be taking zones that have been tested? i.e. price comes within 5 pips of pending entry and moves away 15 pips or more and then comes back down to entry.. This is the same scenario as being in a trade and 15 pips in the green only to...
This was definitely based on some sound data and worth a look. Though I think I remember the hit rate reduced to 68%. It depends on your risk level and whether you can let it oscillate until it wins. The levels are also Dales where he worked out the correlation before posting. So if you are using it on your own levels then back test or reduce your lot size is my personal view. Certainly worth a go and others did trade this way to.
Take 1 step forward, two small steps back
  • #7,592
  • May 11, 2017 7:59am May 11, 2017 7:59am
Quoting FX-Flux
{quote} I'd be more tempted to short at 1.37155 {quote} Haha I'm the developer
...oke....
You can manage risk, but you can't manage the return
  • #7,593
  • May 11, 2017 8:00am May 11, 2017 8:00am
Some levels I'm watching today. Some are further away because they are previous levels that I'm monitoring too.
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  • #7,594
  • May 11, 2017 8:05am May 11, 2017 8:05am
this is just a 1 time post for encouraging purposes only so you may think about a few things. If you know theres no exchange to get real volume from why trade forex? The market you are engaging in is ficticious made by the market makers. they make you a market so you can trade but is the playing field level? you may think you are getting a great spread say .05 with usd but are you really getting that spread based on the real price? The answer is no! So what do you do continue in a lopsided market or do you leave and find a fair playing field that is up to you I left forex 5 years ago for the futures market (the real market) the costs are cheaper and the data is real. So when I pull up a market profile from yesterday and mark off the levels for today it looks like this notice yesterdays extreme and the pattern it formed down there its a 123 setup at the extreme you will do as you wish just thought I would pop in and give you something to think about
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  • #7,595
  • May 11, 2017 8:05am May 11, 2017 8:05am
GBPUSD level was activated within RedNews window.... So no trading for me.... but it would had working perfectly

Anyway it was within RedNews Winow
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You can manage risk, but you can't manage the return
  • #7,596
  • May 11, 2017 8:57am May 11, 2017 8:57am
mhhh ....

my USDJPY level at 113.81 was canceled because of the test it made today at level 113.841 (i round usdjpy level at 2 decimals) so it was just meeting my considered testing level.

phhh a little bit lucky....and from the other side a little bit unlucky because we had there a nice bounce!!
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You can manage risk, but you can't manage the return
  • #7,597
  • May 11, 2017 9:11am May 11, 2017 9:11am
Quoting HappyMe
mhhh .... my USDJPY level at 113.81 was canceled because of the test it made today at level 113.841 (i round usdjpy level at 2 decimals) so it was just meeting my considered testing level. phhh a little bit lucky....and from the other side a little bit unlucky because we had there a nice bounce!! {image} {image}

do you ever look at the levels like this as turning from support into resistance level? It broke through strong so maybe it will come back up and test the level before going down further? Too risky for me. I prob wouldn't trade it lol
  • #7,598
  • May 11, 2017 9:15am May 11, 2017 9:15am
Quoting Divergence
this is just a 1 time post for encouraging purposes only so you may think about a few things. If you know theres no exchange to get real volume from why trade forex? The market you are engaging in is ficticious made by the market makers. they make you a market so you can trade but is the playing field level? you may think you are getting a great spread say .05 with usd but are you really getting that spread based on the real price? The answer is no! So what do you do continue in a lopsided market or do you leave and find a fair playing field that...
I'm very close to moving to a futures broker. I contacted Canon Trading Company who use CME data and the transact software package. Offered me something like $2.50 per side of a contract (Is that good? I've not looked into it much) However you can not trade anything less than 1 contract like spot forex, so you have to be prepared to have larger account size.

Quoting FX-Flux
{quote} I'd be more tempted to short at 1.37155 {quote} Haha I'm the developer
My EA didn't take this one thanks to the 30/70 rule.
So many in the Commercial section want to make me rich! :o
  • #7,599
  • May 11, 2017 9:20am May 11, 2017 9:20am
Quoting marinecorps
{quote} do you ever look at the levels like this as turning from support into resistance level? It broke through strong so maybe it will come back up and test the level before going down further? Too risky for me. I prob wouldn't trade it lol
Not actively at the moment.....

See also my post this morning (https://www.forexfactory.com/showthread.php?p=9853557#post9853557)...same scenario I think...

Well in this case my level wasn't broken that strongly at that moment. it was just tested...that it came down as seen afterwards we couldn't foresee...
You can manage risk, but you can't manage the return
  • #7,600
  • May 11, 2017 9:22am May 11, 2017 9:22am
Quoting FX-Flux
{quote} I'm very close to moving to a futures broker. I contacted Canon Trading Company who use CME data and the transact software package. Offered me something like $2.50 per side of a contract (Is that good? I've not looked into it much) However you can not trade anything less than 1 contract like spot forex, so you have to be prepared to have larger account size. {quote} My EA didn't take this one thanks to the 30/70 rule.
5.00 is fine I trade the nasdaq best trending market by far of any instrument. It moves in .25 per tick which is 5.00 per tick once you switch you will never go back
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