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Trader Dale - daily trading levels

  • #7,601
  • May 11, 2017 9:32am May 11, 2017 9:32am
Quoting Divergence
{quote}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
So what would you say is a good minimum capital amount to start trading futures? Not for income purposes, but testing purposes just so you don't have to paper trade. In forex, I can start with $100-200 just to have some small real money to test and learn to trade. I'm thinking if I were to risk 5% per trade, using 12 pips stops and assuming futures pip value was something like $10/each, that would be $120 SL and I would need $2400 capital. Sound about right?

Also, what about the volume of trading. Are futures fluid in the Asian, London and US trading sessions or is it more just US trading from 8:30-4 time range? Forex is liquid through all of the trading sessions.

Thanks for your knowledge and expertise!
  • #7,602
  • Edited 10:24am May 11, 2017 9:43am | Edited 10:24am
Quoting marinecorps
{quote} So what would you say is a good minimum capital amount to start trading futures? Not for income purposes, but testing purposes just so you don't have to paper trade. In forex, I can start with $100-200 just to have some small real money to test and learn to trade. I'm thinking if I were to risk 5% per trade, using 12 pips stops and assuming futures pip value was something like $10/each, that would be $120 SL and I would need $2400 capital. Sound about right? Also, what about the volume of trading. Are futures fluid in the Asian, London and...
when putting on an order with entry stop and target though the latter 2 are not generated till trade is executed margin is 500 per so 1500 is needed to place order. So 2000 to 2500 should be enough I have a 10 tick stop with 20 tick minimum target. So a loss is 50 each tick or pip is 5 dollars
  • #7,603
  • May 11, 2017 9:49am May 11, 2017 9:49am
Quoting tbarper
Guys, I have 3 questions: 1 - What is the advantage in using futures volume? I know in Spot Market we dont have centralized volume but Is not OK with TPO? Does it worth it to pay the TradingView account? 2 - Are you using Dales TM 1.4? For me seems to be working but Im 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

1. I am in the month trial of tradinview: even the forex data are more accurate here then in the volume profile I have in MT4; futures data are of course more accurate and you can see the difference especially when the volume are thinner part of the profile

2. I use 1.5 (sometimes 1.6) release of the EA, it's very good for me; probably if I made it manually I'll enter some trade more (often the price get away less then 0.5 pips from my level) or get a better price, but there's a lot of feature that I like and allow me to trade during the night "safely" (I have a VPS so the EA run 24/5)
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  • #7,604
  • May 11, 2017 10:12am May 11, 2017 10:12am
Quoting Iena
{quote} 1. I am in the month trial of tradinview: even the forex data are more accurate here then in the volume profile I have in MT4; futures data are of course more accurate and you can see the difference especially when the volume are thinner part of the profile 2. I use 1.5 (sometimes 1.6) release of the EA, it's very good for me; probably if I made it manually I'll enter some trade more (often the price get away less then 0.5 pips from my level) or get a better price, but there's a lot of feature that I like and allow me to trade during the...
Hi can I ask you where you host that VPS? is it stable and fast (also at high impact news?!)

I'm interested because the last one I had was a disaster....it was just freezing at the important moments....
You can manage risk, but you can't manage the return
  • #7,605
  • May 11, 2017 10:25am May 11, 2017 10:25am
As I mentioned before most traders use previous days profile to trade today's price action try it you will see it is much better. Or dont....
  • #7,606
  • May 11, 2017 10:49am May 11, 2017 10:49am
Quoting Divergence
As I mentioned before most traders use previous days profile to trade today's price action try it you will see it is much better. Or dont....
Yes. That's exactly the way I have been trading Dale's MP strategy. Use the prior day's POC, previous POC's that have not been tested, prior day H/L/C price, and the prior week H/L/C price. Look for price action around these areas. Stay away from the news and take trades during the highest volume sessions (London/US).
  • #7,607
  • May 11, 2017 10:53am May 11, 2017 10:53am
Quoting HappyMe
{quote} Hi can I ask you where you host that VPS? is it stable and fast (also at high impact news?!) I'm interested because the last one I had was a disaster....it was just freezing at the important moments....
I usa a free Amazon vps; it's free for the first year, actually I don't know how much will cost after that, but in one year I can see if I really need one (and I think the answer is yes for me).

I have no problem in using it: telling the truth in moment of high volatility the Mt4 platform is a little bit slow, but EA is still working; actually I can't tell if it's a vps problem or an indicator problem that slows down everything.

Overall, I'm quite happy with it.
  • #7,608
  • May 11, 2017 10:55am May 11, 2017 10:55am
Quoting HappyMe
{quote} Hi can I ask you where you host that VPS? is it stable and fast (also at high impact news?!) I'm interested because the last one I had was a disaster....it was just freezing at the important moments....
Amazon aws is free for a year. However, I missed out on two trades in the last two days because of requotes

Quoting FX-Flux
{quote} Hmm yeah i see what you mean. Could probably reduce the risk on this one. {image} {image}
Two winners today.
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So many in the Commercial section want to make me rich! :o
  • #7,609
  • May 11, 2017 1:28pm May 11, 2017 1:28pm
New level. I also spotted the one around 114.01 but was too late and it looks tested now anyway
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So many in the Commercial section want to make me rich! :o
  • #7,610
  • May 11, 2017 1:31pm May 11, 2017 1:31pm
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...
Sounds interesting, I think you posted this before. Do you have anything that will help us take a good look?
Take 1 step forward, two small steps back
  • #7,611
  • May 11, 2017 1:45pm May 11, 2017 1:45pm
Quoting FX-Flux
{quote} What I see {image} {image} {image}
+10 during the news. Didn't trigger.
So many in the Commercial section want to make me rich! :o
  • #7,612
  • May 11, 2017 1:53pm May 11, 2017 1:53pm
Quoting DrBeercan
{quote} Sounds interesting, I think you posted this before. Do you have anything that will help us take a good look?
Tricky day today as price drove away from yesterday's profile
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  • #7,613
  • May 11, 2017 2:04pm May 11, 2017 2:04pm
Quoting tbarper
Guys, I have 3 questions: 1 - What is the advantage in using futures volume? I know in Spot Market we dont have centralized volume but Is not OK with TPO? Does it worth it to pay the TradingView account? 2 - Are you using Dales TM 1.4? For me seems to be working but Im 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
Hi

Q1. The idea is to cross reference the end of contracts with Forex, early in the forum Dale explains how he does that; it gives a level which is a good majority of the time spot on.

Q2. Some do, some don't I don't as I haven't set myself up with the ability to get to MT4 if there is an issue or I want to stop trading for the day

Q3. I believe someone else on this forum was doing that. If you can watch the market that quick and are able to decipher Order Flow as it occurs you could well be onto a more successful trade. I think here again a lot of people don't as that needs gluing to the screen for the whole period.

There are a few here that seem to be doing well with Just MP and market analysis. Any extra edge you can find to cut your losses or even extend to more than 10 pips is worth it in my book.

Happy trading :-)
Take 1 step forward, two small steps back
  • #7,614
  • May 11, 2017 2:17pm May 11, 2017 2:17pm
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 is worth a read:

http://trader-dale.com/myth-surrounding-risk-vs-reward-ziggy/
Take 1 step forward, two small steps back
  • #7,615
  • May 11, 2017 2:39pm May 11, 2017 2:39pm
That's all fine and dandy grabbing 10 but if your gonna use mp then why not let profile dictate your target.
  • #7,616
  • May 11, 2017 2:55pm May 11, 2017 2:55pm
Quoting marinecorps
Some levels I'm watching today. Some are further away because they are previous levels that I'm monitoring too. {image}

no trades for me today. Market went quiet after the news earlier in the day. Tomorrow lots of red news and G7 meetings.
  • #7,617
  • May 11, 2017 3:48pm May 11, 2017 3:48pm
Quoting FX-Flux
New level. I also spotted the one around 114.01 but was too late and it looks tested now anyway {image}
I'm on it as well.

I was looking at 114.01 but not too much confident (there was a similar level on eurjpy)
  • #7,618
  • May 11, 2017 4:05pm May 11, 2017 4:05pm
Quoting Divergence
{quote} Tricky day today as price drove away from yesterday's profile {image}
Transact quite good? Anything particularly good or bad?

Quoting Divergence
That's all fine and dandy grabbing 10 but if your gonna use mp then why not let profile dictate your target.
Can you advise what a typical target would be from the sorts of levels we have posted?
So many in the Commercial section want to make me rich! :o
  • #7,619
  • May 11, 2017 4:11pm May 11, 2017 4:11pm
and here are my picked levels for the coming session:

ps: Please don't follow this levels blind...I'm still learning!!
Attached Image
You can manage risk, but you can't manage the return
  • #7,620
  • May 11, 2017 5:00pm May 11, 2017 5:00pm
Quoting FX-Flux
{quote} Transact quite good? Anything particularly good or bad? {quote} Can you advise what a typical target would be from the sorts of levels we have posted?
Infinity futures is connected to transact the reason I say that is deposit is less than transact. I use a 10 tick stop 20 tick minimum target if level is more I use level trading forex especially with fx broker is a nickel and dime game. The e mini nasdac trades better than every instrument out there is huge trends up down up down big daily range
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