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Trader Dale - daily trading levels

  • #8,041
  • Jun 5, 2017 6:55am Jun 5, 2017 6:55am
Has anyone considered looking at Oanda's order book around the time they are approaching their level? I know there are others out there, but this is freely available.

https://www.oanda.com/forex-trading/analysis/forex-order-book
Take 1 step forward, two small steps back
  • #8,042
  • Jun 5, 2017 11:42am Jun 5, 2017 11:42am
Quoting DrBeercan
{quote} Sounds good, how about reduce the number of levels you trade post your ideas in a screen shot (so that you don't have too many to comment on or the closest to current price) and hopefully we will jump in (or the more knowledgeable on the forum) each time you decide to trade that level am hoping this will entice a few people to start evaluating their levels with you? Obviously if that is too much late in the day that is understandable.
Sorry it took a day for my respond... anyway I had a wonderfull day in the zoo with my family

Well I would love to....but there is one problem...time.
I have 2 young childeren, before they are in bed I can't do anything....so I need to overlook the market (in the evening) in say 2 hours.... Yes I look to the market over the day if I have time. Anyway, I just don't have the time to do that.

It is easier for me to give the result if a level was triggered and if it was wrong trying to explain way? was it a wrong level and what was wrong then or....just a good level but blow away....or take the happiness of a full TP flight
You can manage risk, but you can't manage the return
  • #8,043
  • Jun 5, 2017 11:46am Jun 5, 2017 11:46am
Quoting januszo
You re using c# or Java?{quote}
c#
You can manage risk, but you can't manage the return
  • #8,044
  • Jun 5, 2017 11:50am Jun 5, 2017 11:50am
Quoting HappyMe
{quote} Sorry it took a day for my respond... anyway I had a wonderfull day in the zoo with my family Well I would love to....but there is one problem...time. I have 2 young childeren, before they are in bed I can't do anything....so I need to overlook the market (in the evening) in say 2 hours.... Yes I look to the market over the day if I have time. Anyway, I just don't have the time to do that. It is easier for me to give the result if a level was triggered and if it was wrong trying to explain way? was it a wrong level and...
Not a problem, I guessed you would reply eventually. Yes indeed same here :-) Still great work though with the results you have been getting. At least you stopped for the day to remember why you do things :-)
Take 1 step forward, two small steps back
  • #8,045
  • Jun 5, 2017 3:38pm Jun 5, 2017 3:38pm
Some interesting levels printed on AUDUSD throughout today's price action.
Attached Image (click to enlarge)
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  • #8,046
  • Edited 4:28pm Jun 5, 2017 4:02pm | Edited 4:28pm
My levels for the coming session:

ps: Don't trade my levels blind...I'm still practicing!
Attached Image
You can manage risk, but you can't manage the return
  • #8,047
  • Edited 4:33pm Jun 5, 2017 4:08pm | Edited 4:33pm
Quoting fxdude1
Some interesting levels printed on AUDUSD throughout today's price action. {image}
Agreed!

Edit: I'm now asking myself: "Can this a possible fire-cracker?!" I mean a lot of volume....if a supportlevel is breaking can that initiate an avalanche who can blow away more levels in a quick move?!
You can manage risk, but you can't manage the return
  • #8,048
  • Jun 5, 2017 4:20pm Jun 5, 2017 4:20pm
Hello guys. Here is my today's trades. One pretty nice one at the usd/jpy. Also swings that I had to quit before RBA news.
http://trader-dale.com/recent-forex-trades/
  • #8,049
  • Jun 5, 2017 4:48pm Jun 5, 2017 4:48pm
Shame you ended here , did more good here than most.
  • #8,050
  • Jun 5, 2017 5:29pm Jun 5, 2017 5:29pm
Quoting HappyMe
{quote} Agreed! Edit: I'm now asking myself: "Can this a possible fire-cracker?!" I mean a lot of volume....if a supportlevel is breaking can that initiate an avalanche who can blow away more levels in a quick move?!
It can be an avalanche during RBA news in the coming asian session :-) I am keeping AU EA off.
  • #8,051
  • Jun 5, 2017 5:36pm Jun 5, 2017 5:36pm
Good level that was...
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  • #8,052
  • Edited 9:31pm Jun 5, 2017 8:35pm | Edited 9:31pm
Quoting spynoza
My level today AU : long 0.7344 or short 0.7490 UC : long 1.3439 or short 1.3584 EU : level I - long 1.1249 or short 1.1300 : level II - long 1.1191 or short 1.1358 UJ : level I - long 110.12 or short 110.78 : level II - long 109.381 or short 111.52 {image} {image} {image} {image}

EU hit SL -12
AU hit TP +10

Win : Loss = 7 : 6 (72 pips : 72 pips).......... cancel rest the other level.....
Follow the flow of water in a stream
  • #8,053
  • Jun 5, 2017 10:26pm Jun 5, 2017 10:26pm
Quoting DrBeercan
{quote} Just a personal thought and don't take it for gospel, AU is on a channel up so AU 0.7490 might not work.. having said that I have probably just jinxed my long trade I am in right now! Edit: literally minutes after I posted this the market reversed!
Very lucky for this level...
Follow the flow of water in a stream
  • #8,054
  • Jun 6, 2017 1:20am Jun 6, 2017 1:20am
Guys, we normally talk about levels but, what about profitability of this system? Is working for you?

With a R:R of 1:1 you have to get a high % of winners to get some profit.

Another important point is that there are very few trades on a normal basis so you have to leverage a lot to get some decent profit. Even with Dale results of letīs say 80 pips per month you would need to trade high lots to get great reward. The problem of leveraging is already known. If we donīt have a robust system we canīt leverage.

What do you think? I donīt have so much experience. Iīve been testing out for more or less 1 month and I didnīt get more than 10 pips. Of course, this is the first month but you guys have more expertise with this system. Can you help me to clear my doubts?

Thanks in advance
  • #8,055
  • Edited 4:01am Jun 6, 2017 3:42am | Edited 4:01am
Quoting HappyMe
My levels for the coming session: ps: Don't trade my levels blind...I'm still practicing! {image}
This night an AUDUSD level was triggered (full TP)
the 2 other AUDUSD levels where seen as (already tested)

Looked a little as a small fire-cracker to me...
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Attached Images
You can manage risk, but you can't manage the return
  • #8,056
  • Edited 3:57am Jun 6, 2017 3:45am | Edited 3:57am
Quoting HappyMe
My levels for the coming session: ps: Don't trade my levels blind...I'm still practicing! {image}
USDCAD also triggered a trade with a full TP
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Attached Images
You can manage risk, but you can't manage the return
  • #8,057
  • Jun 6, 2017 4:08am Jun 6, 2017 4:08am
Quoting HappyMe
{quote} This night an AUDUSD level was triggered (full TP) the 2 other AUDUSD levels where seen as (already tested) Looked a little as a small fire-cracker to me... {image} {image} {image}
You aware there was red news in the night? I cancelled any orders just before it got.
Great wins by the way :-)
Take 1 step forward, two small steps back
  • #8,058
  • Edited 4:43am Jun 6, 2017 4:17am | Edited 4:43am
Quoting DrBeercan
{quote} You aware there was red news in the night? I cancelled any orders just before it got. Great wins by the way :-)
This is the RedNews I am aware of for this today (time is GMT+3)

Did I missed something?!
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Attached Image
You can manage risk, but you can't manage the return
  • #8,059
  • Jun 6, 2017 4:47am Jun 6, 2017 4:47am
Quoting HappyMe
{quote} This is the RedNews I am aware of for this today (time is GMT+3) Did I missed something?! {image} {image}
Sorry I should of looked at that with greater detail. The market shot down at 2:30 am then reacted to the news after 4:30 am GMT back up again. No Idea what that first reaction was. Did you stop your orders when the red news was running?
Take 1 step forward, two small steps back
  • #8,060
  • Jun 6, 2017 5:23am Jun 6, 2017 5:23am
Quoting DrBeercan
{quote} Sorry I should of looked at that with greater detail. The market shot down at 2:30 am then reacted to the news after 4:30 am GMT back up again. No Idea what that first reaction was. Did you stop your orders when the red news was running?
Thanks for looking up

Yes I did.... in my timezone the RedNews Window was from 07:00 to 08:00 => No Trading

That part was functioning my log-file says:
-2017.06.06 07:00 Trading is DISABLED by RedNews Filter
-2017.06.06 08:00 Trading is ENABLED by RedNews Filter


Well then there was something else....or some news or just inventories became to long that produced this sell-off (b-shape)
You can manage risk, but you can't manage the return
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