Trader Dale - daily trading levels | Page 392 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Pinbar trader EA - Trading pinbars off weekly S&R levels 435 replies

Are you a trend trader or a counter-trend trader? 29 replies

RS levels and physic levels are in indicator (created) 3 replies

IkonFX Viking Trader or Pfgbest Viking Trader? 2 replies

Attachments: Trader Dale - daily trading levels
Exit Attachments

Trader Dale - daily trading levels

  • #7,821
  • May 22, 2017 1:03am May 22, 2017 1:03am
Morning,
here is my levels for today.
Have a great week.
Usual disclaimer: Don't follow them blindly, I am learning as I go along.
Attached Image
  • #7,822
  • May 22, 2017 2:19am May 22, 2017 2:19am
Quoting fxdude1
Morning, here is my levels for today. Have a great week. Usual disclaimer: Don't follow them blindly, I am learning as I go along. {image}
Are you using tradingview to get the levels?
  • #7,823
  • May 22, 2017 3:55am May 22, 2017 3:55am
Quoting brink
{quote} Are you using tradingview to get the levels?
Hi,
Yes, I am using tradingview primarily to get the levels. Sometimes I look at market profile indi for MT4 . As the tradingview can only go back limited time.
  • #7,824
  • May 22, 2017 6:59am May 22, 2017 6:59am
Quoting Divergence
{quote} After the hounding i took I just deleted them now those people are left with nothing to profit with
Another good day so far from your method
Attached Image (click to enlarge)
Click to Enlarge Name: image.jpg Size: 112 KB
So many in the Commercial section want to make me rich! :o
  • #7,825
  • May 22, 2017 7:27am May 22, 2017 7:27am
Divergence- does this look accurate? Pre-market examples on NQ.

2b trade at the peak for a buy.

2b trade at the VAL for a buy.

123 trade for a sell targeting the peak.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 42 KB
  • #7,826
  • May 22, 2017 9:34am May 22, 2017 9:34am
Quoting marinecorps
Divergence- does this look accurate? Pre-market examples on NQ. 2b trade at the peak for a buy. 2b trade at the VAL for a buy. 123 trade for a sell targeting the peak. {image}
Great concept, would be great to see more. This is the kind of second confirmation factor needed to cross check against levels.
Take 1 step forward, two small steps back
  • #7,827
  • May 22, 2017 10:08am May 22, 2017 10:08am
Quoting marinecorps
Divergence- does this look accurate? Pre-market examples on NQ. 2b trade at the peak for a buy. 2b trade at the VAL for a buy. 123 trade for a sell targeting the peak. {image}
you catch on quick not a great day for me wasn't anticipating extreme high to be taken out so took a minus 10 causing me to miss the pullback to go long for 20 but them took the next pullback and grabbed 12 so was flat on day since I only trade the first hour after stock market opens
  • #7,828
  • May 22, 2017 11:24am May 22, 2017 11:24am
Am I to late for this party? This thread is awesome
thinking outside the box
  • #7,829
  • May 22, 2017 12:48pm May 22, 2017 12:48pm
Once price got beyond yesterday's extremes you look at next relivant profile which was Wednesday and price goes to 9850 and sellers came in which was poc how interesting
  • #7,830
  • May 22, 2017 1:31pm May 22, 2017 1:31pm
Quoting Divergence
Once price got beyond yesterday's extremes you look at next relivant profile which was Wednesday and price goes to 9850 and sellers came in which was poc how interesting
Today was hard to follow with price blowing through POC and extreme from Friday, but you are right, Wednesday's profile provided the map to where price was heading. Looks like there was better price action opportunities after 10:30 today.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 82 KB
  • #7,831
  • May 22, 2017 1:52pm May 22, 2017 1:52pm
Quoting ziggy
I've been working through the data that I hold with a view to finding an alternative way of trading the levels which those who insist on taking big (relative to bank size) might be able to cut down the true risk whist also achieve rapid bank growth. I'm not saying this is the best way of trading Dales levels, but I am saying it is a way of being able to grow a small bank into something more useable and at the same time greatly reduce the risk of killing your bank. Hope you find it an interesting read Cheers Ziggy{file}

Hi Ziggy,

Many thanks for your great work there.

I have a question.

You said:
"Well firstly I have potentially 254 trades, but because of the macro news & test rules only 150 of them become actual trades. Using this approach with a 20 pip profit take the strike rate is only 42%. Now whilst the original risk is 20 pips, because of moving the stops there are 63 losing trades, and some do indeed go for 20 pips, but on average the loss inclusive of spread (at my spread) is 6.5 pips, which brings the average risk down to 3.25%. You can see why taking this stop moving action becomes attractive."

42% wins. From 150 trades, thats 63 wins.
But it says there are 63 losing trades... is this a typo?
Because there should be 87 losers. Right?

I'm very interested in comparing the R of the 2 methods.

Thanks again.
  • #7,832
  • May 22, 2017 2:01pm May 22, 2017 2:01pm
Quoting marinecorps
{quote} Today was hard to follow with price blowing through POC and extreme from Friday, but you are right, Wednesday's profile provided the map to where price was heading. Looks like there was better price action opportunities after 10:30 today. {image}
the only thing you can do it go to next profile it hit Wednesday poc head-on and reversed TPO CHARTS are a great road map
  • #7,833
  • May 22, 2017 3:04pm May 22, 2017 3:04pm
Some Levels for tomorrow

AUDCAD: L 1.0073 S: 1.0144
AUDJPY: L 82.73 L2: 81.94 S 83.53
AUDUSD: L .7448
CADJPY: L 81.83 S 82.94
CHFJPY: L 113.85 S 114.77
EURGBP: L 86.10
EURJPY: L 124.20 S 125.77
EURUSD: L 1.1174
GBPJPY: L 144.07 S 145.74
GBPUSD: L 129.56
NZDUSD: L .6950
USDCAD: S 135.62
USDCHF: S .9782
USDJPY: L 110.41 S 112.42


**Disclaimer*** Use at your own risk
**Disclaimer 2** One day when I retire, I might go commercial and sell these numbers on a public website
**Disclaimer3** I cannot teach you how to use these in a couple of PM's and or emails...however, I appreciate your interest
Plan, Prepare, Execute, Repeat
  • #7,834
  • May 22, 2017 3:12pm May 22, 2017 3:12pm
Hello guys! Here is my today's trading. I took a very nice profit on a usd/cad swing trade. This level I took was around 15 months old!
http://trader-dale.com/recent-forex-trades/
  • #7,835
  • May 22, 2017 3:33pm May 22, 2017 3:33pm
No offence Dale but do you think a level from 15 months ago is relivanent today? It's about volume not magic at price just my opinion
  • #7,836
  • May 22, 2017 4:07pm May 22, 2017 4:07pm
Here are my levels for the coming session.

No tradelevel I had was hit in the last session

ps. Don't follow my levels blind, I'm still learning
Attached Image
You can manage risk, but you can't manage the return
  • #7,837
  • May 23, 2017 2:40am May 23, 2017 2:40am
Quoting Divergence
No offence Dale but do you think a level from 15 months ago is relivanent today? It's about volume not magic at price just my opinion
data from the trades shows that it makes no difference on p/l as to how old the levels are. I guess they are profit taking areas.
Adriaaaaan
  • #7,838
  • May 23, 2017 7:23am May 23, 2017 7:23am
Quoting Johnramb0
{quote} data from the trades shows that it makes no difference on p/l as to how old the levels are. I guess they are profit taking areas.
What data are you referring to the tpo chart represents time spent at these areas looking back 15 months into is irrelevant with that logic why not look back 15 yrs or just put and level in chart no profile by its name is giving up insight to where traders feel comfortable with fair value
  • #7,839
  • May 23, 2017 7:30am May 23, 2017 7:30am
I think you'll find that this particular trade was a swing trade that are set up over a much wider timeframe, so not a trade based on recent activity. Dale did from time to time give out his swing trades in this thread.
  • #7,840
  • May 23, 2017 8:03am May 23, 2017 8:03am
Quoting ziggy
I think you'll find that this particular trade was a swing trade that are set up over a much wider timeframe, so not a trade based on recent activity. Dale did from time to time give out his swing trades in this thread.
Different philosophy I guess to each there own maybe one day you can explain how a level based on tpo can have relevance 15 months ago or don't it makes no difference to me but to others it might
4 traders viewing now