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Trader Dale - daily trading levels

  • #7,841
  • May 23, 2017 9:21am May 23, 2017 9:21am
Quoting Divergence
{quote} 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
I'm no expert but generally there are successful traders who wait for price to return to support/resistance/supply/demand levels on long time frames. I have to acknowledge that I do not trade long time frames and have no expertise in that way of trading whatsoever, I trade intra-day as I like to realise my "result" quickly rather than having to be in a trade for days. I was really just offering a reason as to why that particular trade was different to those that generally appear in this thread.
  • #7,842
  • May 23, 2017 9:37am May 23, 2017 9:37am
as I said before ziggy different philosophy I also only day trade so I just use yesterdays completed profile and if it gets out past the extremes I go to the next profile for clues. today was fast and furious
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  • #7,843
  • May 23, 2017 9:39am May 23, 2017 9:39am
Nice trading D
  • #7,844
  • May 23, 2017 10:13am May 23, 2017 10:13am
Quoting HappyMe
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 {image}
GBPUSD level was just not triggered (0.9pips)
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You can manage risk, but you can't manage the return
  • #7,845
  • May 23, 2017 12:17pm May 23, 2017 12:17pm
Quoting HappyMe
{quote} GBPUSD level was just not triggered (0.9pips) {image} {image}
it was a pretty good level, price stopped just right there after a big movement up...
I'm always afraid about this weird movement on GBP
  • #7,846
  • Edited 3:07pm May 23, 2017 2:45pm | Edited 3:07pm
Quoting HappyMe
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 {image}
Second trade of today.....also just not triggered.....
This time missed by 0,4pips....

I don't want to say more about this possibility.....
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You can manage risk, but you can't manage the return
  • #7,847
  • May 23, 2017 4:06pm May 23, 2017 4:06pm
Quoting HappyMe
{quote} Second trade of today.....also just not triggered..... This time missed by 0,4pips.... I don't want to say more about this possibility..... {image} {image}
This is strange, as this level was triggered on mine (IG-LIVE), it was perfect level.
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  • #7,848
  • May 23, 2017 4:15pm May 23, 2017 4:15pm
There was some action today at last.
Results: 4 Trades - +40 pips , one SL -12 . Two levels didn't trigger for some reason- GBPUSD 1.2953 and GBPJPY 144.19. I re-armed the 114.19 and it worked the second time. GBPJPY had a good reaction+ 80 pips. (need to find EA to ride it all the way)
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  • #7,849
  • May 23, 2017 4:21pm May 23, 2017 4:21pm
Quoting fxdude1
{quote} This is strange, as this level was triggered on mine (IG-LIVE), it was perfect level. {image}
Apologies I just had a look in the EA I had this level as 1.11931
  • #7,850
  • May 23, 2017 4:28pm May 23, 2017 4:28pm
Quoting fxdude1
{quote} This is strange, as this level was triggered on mine (IG-LIVE), it was perfect level. {image}
well the low at pepperstone is/was 1.11934.. ..
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You can manage risk, but you can't manage the return
  • #7,851
  • May 23, 2017 4:28pm May 23, 2017 4:28pm
Quoting swingtrade65
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,...
Very good results today!

5/24/2017

AUDCAD: S 1.0144
AUDJPY: L 82.87 S 83.93
CADJPY: L 81.83 S 82.96
CHFJPY: L 114.19
EURGBP: L .8610
EURJPY: L 124.20 S 125.77
EURUSD: L 1.1118 S 1.1244
GBPJPY: S 145.74
NZDUSD: L .6950 S .7042
USDCAD: S 1.3562
USDCHF: S .9797
USDJPY: L 111.22 S 112.28

**Disclaimer*** Use at your own risk
**Disclaimer 2** One day when I retire, I will go commercial and sell these numbers on a public website
**Disclaimer3** I cannot teach you how to come up with and use these numbers in a couple of PM's and or emails...however, I appreciate your interest
Plan, Prepare, Execute, Repeat
  • #7,852
  • May 23, 2017 4:38pm May 23, 2017 4:38pm
Here are my levels for the coming session.

2 tradelevels were nearly hit....just not good enough!! Anyway if triggered it were good trades

Well often I noticed that the levels were just not hit or they are seen as already tested, just afterwards the level went a perfect trade. So in my search for a better entrylevel I changed my approach a little:

New approach:
1) with my Daily MarketProfile I search for the POC and high level area's (for a roughly entry)
2) I drill down to the session MarketProfiles (SidneyOpen - AsianOpen - EuropeanOpen - USOpen - USPitOpen) I try to identify the highvolume area in the specified session. With that I believe (and hope) you can see where the highvolume came in more in detail and so more precise. That in combination with PriceAction I try to look for a better entrylevel.
3) With that I hope I can identify the levels with more accuracy ....

At least it is more precise then only have a look to the Daily Profile!!

Just waiting how it works out.......

ps. Don't follow my levels blind, I'm still learning
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You can manage risk, but you can't manage the return
  • #7,853
  • May 23, 2017 5:03pm May 23, 2017 5:03pm
Quoting HappyMe
Here are my levels for the coming session. 2 tradelevels were nearly hit....just not good enough!! Anyway if triggered it were good trades Well often I noticed that the levels were just not hit or they are seen as already tested, just afterwards the level went a perfect trade. So in my search for a better entrylevel I changed my approach a little: New approach: 1) with my Daily MarketProfile I search for the POC and high level area's (for a roughly entry) 2) I drill down to the session MarketProfiles (SidneyOpen - AsianOpen - EuropeanOpen - USOpen...
I do not understand several of your levels. Why are you using the highest volume nodes as your turning points on some of these trades? This is the level of equilibrium, not rejection.
Drilling down may or may not help your case if you don't understand the basics of what the profile is telling you. As far as missing by 1/2 pip or something like that, additional "rules" will not help you. Monitoring those levels and watching PA will help for sure!

Don't over complicate this process, just trade what you see

Many pips!
Plan, Prepare, Execute, Repeat
  • #7,854
  • May 23, 2017 5:32pm May 23, 2017 5:32pm
Quoting HappyMe
{quote} well the low at pepperstone is/was 1.11934.. .. {image}
Damn!
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  • #7,855
  • May 23, 2017 5:47pm May 23, 2017 5:47pm
Hi all, here my levels for tomorrow. as I enter them into EA I add or subtract 0.5 pip to avoid being missed.
Just to show my view here is EURUSD example.
https://uk.tradingview.com/x/CByoG7SH/
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  • #7,856
  • May 23, 2017 8:21pm May 23, 2017 8:21pm
Some observations looking back at the day on the NQ futures chart using 233 tick bars. Tuesday would have been a decent day with some good trade management and good execution. I think execution and discipline to pull the trigger would be key.

Both charts show the 1st hour and I also marked all trades the full trading day from 9:30-16:30 EST.

Chart 1 shows if you would have entered using only market orders and only entered when price touched the level creating a wick/pin. You would enter at the close of that candle after the wick formed. You would be up approximate +48 for the US session based on taking +10 for TP and -12 for SL. If you only traded the first hour, you would be up +50.

Chart 2 shows if you would have entered using only limit orders and taking all trades that touch the level. Trade would trigger upon touch of the level without regard to the current price action. You would be up approximate +2 for the US session based on taking +10 for TP and -12 for SL. If you only traded the first hour, you would be up +28.
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  • #7,857
  • May 24, 2017 1:59am May 24, 2017 1:59am
Quoting HappyMe
Here are my levels for the coming session. 2 tradelevels were nearly hit....just not good enough!! Anyway if triggered it were good trades Well often I noticed that the levels were just not hit or they are seen as already tested, just afterwards the level went a perfect trade. So in my search for a better entrylevel I changed my approach a little: New approach: 1) with my Daily MarketProfile I search for the POC and high level area's (for a roughly entry) 2) I drill down to the session MarketProfiles (SidneyOpen - AsianOpen - EuropeanOpen - USOpen...
The first trade of today went perfect I think. I earned a cafe (it's to early for a beer....)

AUDUSD => reached full TP.
Attached Images
You can manage risk, but you can't manage the return
  • #7,858
  • Edited 2:18am May 24, 2017 2:06am | Edited 2:18am
Quoting swingtrade65
{quote} I do not understand several of your levels. Why are you using the highest volume nodes as your turning points on some of these trades? This is the level of equilibrium, not rejection. Drilling down may or may not help your case if you don't understand the basics of what the profile is telling you. As far as missing by 1/2 pip or something like that, additional "rules" will not help you. Monitoring those levels and watching PA will help for sure! Don't over complicate this process, just trade what you see Many pips!
Hi, thanks for your comment!! Highly appriciated!

Can you specify which levels you mention? I then can look why I took it as a possible level...

Normally I alsoways look at the areas where the highest volume is. Also in that arra must be good pricaction/reaction with that we have a possible turningpoint or slowing down point....that also in combination with POC / VAH / VAL etcetc...
You can manage risk, but you can't manage the return
  • #7,859
  • May 24, 2017 3:02am May 24, 2017 3:02am
Quoting HappyMe
Here are my levels for the coming session. 2 tradelevels were nearly hit....just not good enough!! Anyway if triggered it were good trades Well often I noticed that the levels were just not hit or they are seen as already tested, just afterwards the level went a perfect trade. So in my search for a better entrylevel I changed my approach a little: New approach: 1) with my Daily MarketProfile I search for the POC and high level area's (for a roughly entry) 2) I drill down to the session MarketProfiles (SidneyOpen - AsianOpen - EuropeanOpen - USOpen...
The second possibility is seen as already tested (EURUSD)
Attached Images
You can manage risk, but you can't manage the return
  • #7,860
  • May 24, 2017 3:03am May 24, 2017 3:03am
Quoting HappyMe
{quote} The first trade of today went perfect I think. I earned a cafe (it's to early for a beer....) AUDUSD => reached full TP. {image} {image}
Same, (y)
Also AU 0.7455 worked beautifully . :-:
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