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Trader Dale - daily trading levels

  • #7,941
  • May 29, 2017 4:28pm May 29, 2017 4:28pm
Quoting fxdude1
Relaxing day... one of my USDJPY levels 111.437 shown as triggered on Tradingview, but the DaleTM_1.5 EA didn't react. This is not the first time it happens, don't know why. {image}
I tested the level 111.437 with the EA I created and it said "level not valid anymore" and indeed there was no trade...! That would mean in my case that the level was seen as already tested....

I looked further and this is what happened (see screenshot)
The level indeed is mentioned as tested. I think that is also what happened with the Dale EA I guess.....

So it looks as if this is a valid cancel of the tradelevel! (ofcourse it depends on how you define the already tested level!)

It is just bad luck.... just a little difference in your entrylevel would trade or just not a trade.... I believe that's just inherent if you use rules!!
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You can manage risk, but you can't manage the return
  • #7,942
  • May 29, 2017 4:34pm May 29, 2017 4:34pm
My levels for tomorrow.
Please don't use them if you trade real account. I am still learning. Feedback welcome.
Attached Image
  • #7,943
  • May 29, 2017 4:44pm May 29, 2017 4:44pm
Quoting HappyMe
{quote} I tested the level 111.437 with the EA I created and it said "level not valid anymore" and indeed there was no trade...! That would mean in my case that the level was seen as already tested.... I looked further and this is what happened (see screenshot) The level indeed is mentioned as tested. I think that is also what happened with the Dale EA I guess..... So it looks as if this is a valid cancel of the tradelevel! (ofcourse it depends on how you define the already tested level!) It is just bad luck.... just a little difference in your...
Thanks for investigating this, HappyMe, that explains it. Indeed, the EA considers it tested when price within 20 points (default), which it was earlier, I didn't see that.
My EA's run on VPS (mlq5) and I don't get to see the message. Unless I run another copy on PC with Auto-trading switched off. Re-testing is a great way to find out.
  • #7,944
  • May 29, 2017 7:36pm May 29, 2017 7:36pm
5/30/2017

audcad: S 1.0067
cadjpy: L 82.39 s 83.14
gbpusd: S 1.2881
nzdusd: L .7021
usdchf: L .9754
Plan, Prepare, Execute, Repeat
  • #7,945
  • May 29, 2017 10:07pm May 29, 2017 10:07pm
I will try UJ :
long 110.696 or short 110 926. If the price touches one level, another level will be canceled...
Attached Image (click to enlarge)
Click to Enlarge Name: jp.png Size: 65 KB
Follow the flow of water in a stream
  • #7,946
  • May 30, 2017 2:26am May 30, 2017 2:26am
Quoting spynoza
I will try UJ : long 110.696 or short 110 926. If the price touches one level, another level will be canceled... {image}
UJ hit TP +12.
Starting today, I will calculate my win and lose ratio.

Win : Loss = 1 : 0 (12 pips : 0 pips)
Attached Image (click to enlarge)
Click to Enlarge Name: uj1.png Size: 77 KB
Follow the flow of water in a stream
  • #7,947
  • May 30, 2017 3:12am May 30, 2017 3:12am
I will try :
UJ : long 110.921 or short 111.219.
EU : long 1.11270 or short 1.11526.
AU : long 0.74367 or short 0.74551.

If the price touches one level, another level will be canceled...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: uj.png Size: 139 KB
Click to Enlarge Name: eu.png Size: 86 KB
Click to Enlarge Name: ay.png Size: 87 KB
Follow the flow of water in a stream
  • #7,948
  • May 30, 2017 4:41am May 30, 2017 4:41am
Hello guys,
one of my members was asking in my forum about usd/jpy short level (111.20) which he was considering. I would like to share my thoughts about this level with you. Here is what I replied to him:
"I won’t trade this one. It is not bad though. I get what you mean by this level. Problem is that volumes are bit higher (27-31 zone). But this zone is dangerous because there are lot of places where lot of leople could place their SL orders – therefore the market could just blow past it consuming their SL orders. Here is a picture showing where I think lots of people have SL orders (for their short trades):"

Attached Image (click to enlarge)
Click to Enlarge Name: JPY 111.20 comment.png Size: 76 KB


What do you think about it? were you considering it yourselves?
  • #7,949
  • May 30, 2017 5:15am May 30, 2017 5:15am
Quoting spynoza
I will try : UJ : long 110.921 or short 111.219. EU : long 1.11270 or short 1.11526. AU : long 0.74367 or short 0.74551. If the price touches one level, another level will be canceled... {image} {image} {image}
UJ hit TP +10, EU hit SL -12. AU tested... and now cancel the rest of the other level.

Win : Loss = 2 : 1 (22 pips : 12 pips)
Follow the flow of water in a stream
  • #7,950
  • Edited 5:47am May 30, 2017 5:33am | Edited 5:47am
Quoting HappyMe
Last session the market was just balancing...a real Holiday day ... Last Session I had 1 trade with full TP Here are my levels for the coming session. ps. Don't follow my levels blind, I'm still learning {image}
The first possibility for today at AUDUSD is seen as a tested level (No valid level anymore....). It's just a 0.5pip difference
That's a pitty it was a nice level....
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You can manage risk, but you can't manage the return
  • #7,951
  • May 30, 2017 5:56am May 30, 2017 5:56am
Yes my AU short 0.74551 is tested level too , maybe miss 1 point.
Follow the flow of water in a stream
  • #7,952
  • May 30, 2017 6:28am May 30, 2017 6:28am
so you wouldn't trade it again if PA warranted it? That's a shame
  • #7,953
  • May 30, 2017 7:13am May 30, 2017 7:13am
I will try EU :
long 1.11612 or short 1.11854. If the price touches one level, another level will be canceled...
Attached Image (click to enlarge)
Click to Enlarge Name: eu.png Size: 78 KB
Follow the flow of water in a stream
  • #7,954
  • May 30, 2017 7:24am May 30, 2017 7:24am
Quoting HappyMe
{quote} The first possibility for today at AUDUSD is seen as a tested level (No valid level anymore....). It's just a 0.5pip difference That's a pitty it was a nice level.... {image} {image}
I know it's against the rules to look at a level twice, but the way price moved off of that level so rapidly forming that pin bar, I think you could potentially consider playing that same level again especially if a lot of time has passed before the level is tested again. I bet there are still many sellers in that area.
  • #7,955
  • May 30, 2017 7:30am May 30, 2017 7:30am
Crazy- my broker hit 57.5 level twice.
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  • #7,956
  • May 30, 2017 7:33am May 30, 2017 7:33am
Quoting marinecorps
{quote} I know it's against the rules to look at a level twice, but the way price moved off of that level so rapidly forming that pin bar, I think you could potentially consider playing that same level again especially if a lot of time has passed before the level is tested again. I bet there are still many sellers in that area.
Maybe you are right.... I believe we now have the second attempt.....(my level isn't touched at the moment btw)

The reason behind the rule is.... "If the level is already tested there is a bigger possibility that price can be broken" So yes it is not said....that tested is just tested!! If you want to play that level again is ofcourse on everybody else.

If you see price action (the reaction in this case) then you are maybe (?) to late.

So with all that I think it's safer to play the higher probability....but again everybody trade his/her way.

For me I just following the rule!! tested is tested...
You can manage risk, but you can't manage the return
  • #7,957
  • May 30, 2017 7:41am May 30, 2017 7:41am
its good that you establish rules but you need to know why that rule should be a rule. As I have said if you treat this like some kind of pivot point system you miss the point of what a market profile is. I have said this a lot this will be last time I mention it and you can trade MP anyway you want and you should its your money. a profile is telling up where buyers and sellers are likely to come into the market
  • #7,958
  • Edited 8:31am May 30, 2017 8:18am | Edited 8:31am
Quoting HappyMe
Last session the market was just balancing...a real Holiday day ... Last Session I had 1 trade with full TP Here are my levels for the coming session. ps. Don't follow my levels blind, I'm still learning {image}
Trade on USDCAD failed... it was a full SL
Attached Images
You can manage risk, but you can't manage the return
  • #7,959
  • May 30, 2017 8:48am May 30, 2017 8:48am
Quoting spynoza
I will try EU : long 1.11612 or short 1.11854. If the price touches one level, another level will be canceled... {image}
EU hit TP +10.

Win : Loss = 3 : 1 (32 pips : 12 pips)
Attached Image (click to enlarge)
Click to Enlarge Name: eu.png Size: 24 KB
Follow the flow of water in a stream
  • #7,960
  • May 30, 2017 9:36am May 30, 2017 9:36am
Quoting HappyMe
Last session the market was just balancing...a real Holiday day ... Last Session I had 1 trade with full TP Here are my levels for the coming session. ps. Don't follow my levels blind, I'm still learning {image}
Well GBPUSD was actually a good level...the only problem "it was triggered during RedNews....." So no trade for me...

Well I don't have that needed little luck today
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You can manage risk, but you can't manage the return
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