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Trader Dale - daily trading levels

  • #8,121
  • Jun 9, 2017 3:30am Jun 9, 2017 3:30am
Quoting spynoza
{quote} Yes I trade short UJ 110.446. Hit TP +14 Win : Loss = 8 : 7 (86 pips : 84 pips). I believe behind a seemingly random price movement, most likely influenced by a mathematical formula (though slight) that we can use to trade in Dale style. I am currently doing a little research for an indicator, where prices are likely to be reverse, based standard volume MT4 by looking two or three days earlier. So I am trading with my custum indi ... {image}
Good to see, am going for a longer swing trade, will see how it goes. Would be interesting to see how you custom indi progresses :-)
Take 1 step forward, two small steps back
  • #8,122
  • Jun 9, 2017 3:41am Jun 9, 2017 3:41am
Quoting HappyMe
{quote} Indeed better safe.... but yes you have a point here. The volume looks to be a little lower. The reaction on 1.1179 was an engulfing candle and a strong one.... Did the banks here trying to protect I'm totally unsure because after the elections it's Chaos in GBP Politics and with that also an unsure situation for the EU..... I think Monday if the news is settled more it's a better day to trade ... Below the reason why I picked the EURUSD level yesterday {image}
Couldn't resist, took the trade for +10
thinking outside the box
  • #8,123
  • Jun 9, 2017 3:48am Jun 9, 2017 3:48am
Quoting Mercennary
{quote} Couldn't resist, took the trade for +10
wow....that was a ..booeeem and profit trade. Looks as a perfect level and was not tested

It's volatile.... price broke out and back to his cave again

Attached Image
You can manage risk, but you can't manage the return
  • #8,124
  • Jun 9, 2017 4:00am Jun 9, 2017 4:00am
Quoting HappyMe
{quote} wow....that was a ..booeeem and profit trade. Looks as a perfect level and was not tested It's volatile.... price broke out and back to his cave again {image}
Almost shitted myself lol, it went -6pips and I use huge risk
thinking outside the box
  • #8,125
  • Jun 9, 2017 4:12am Jun 9, 2017 4:12am
Quoting tbarper
{quote} Hello guys ! Sorry to insist.... Can I have your comments to my quoted post? Thanks a lot in advance !
The profitability of this strategy depends on your 'level picking skills' and the way you manage trades. Your level picking skills and the way you manage a trade depends on your experience. No system or strategy will bring you money on a consistent basis if you have no or little experience.

Ziggy shared a spreadsheet in this thread about the profitability of Dales levels. https://www.forexfactory.com/showthread.php?p=9592611#post9592611

On my profile page there is a demo trade explorer with (only) three weeks trading history using this strategy; 10 pip TakeProfit, 12 pip StopLoss, BreakEven after +7 pips and using ziggy's moving StopLoss. Risking 6% per trade. My experience tells me that these results are consistent since at least the beginning of this year.

Believe in it, without believe that it is possible you will fail. The tradingstyle described in this thread is worth your time, no doubt.
  • #8,126
  • Jun 9, 2017 4:36am Jun 9, 2017 4:36am
Quoting GU-Night
{quote} The profitability of this strategy depends on your 'level picking skills' and the way you manage trades. Your level picking skills and the way you manage a trade depends on your experience. No system or strategy will bring you money on a consistent basis if you have no or little experience. Ziggy shared a spreadsheet in this thread about the profitability of Dales levels. https://www.forexfactory.com/showthread.php?p=9592611#post9592611 On my profile page there is a demo trade explorer with (only) three weeks trading history using...
Hi GU-Night!

You also have a trade explorer... I see you have good results!! gives me a lot of courage for moving on with this method/strategy

Last week I also started a trade explorer.
You can manage risk, but you can't manage the return
  • #8,127
  • Jun 9, 2017 5:50am Jun 9, 2017 5:50am
Quoting HappyMe
{quote} I deleted the EURUSD level 1.1175 (I consider it as already tested!) The only level what I will monitor for today is: 1.1258 {image} {image}
I think PA is on the wrong side for that level to hit. What do you think? Can you check out 1.11787? see how it looks in Tradingview?
Edit: sorry 1.11787 its just outside the VA for today
Take 1 step forward, two small steps back
  • #8,128
  • Jun 9, 2017 6:07am Jun 9, 2017 6:07am
Quoting DrBeercan
{quote} I think PA is on the wrong side for that level to hit. What do you think? Can you check out 1.11787? see how it looks in Tradingview? Edit: sorry 1.11787 its just outside the VA for today
I don't know what you mentioned....

The level is gone already...it still was a good level and it didn't looked (complete) tested. The price action was nice in my opinion
See also the screenshot I took a few post back
You can manage risk, but you can't manage the return
  • #8,129
  • Edited 6:29am Jun 9, 2017 6:18am | Edited 6:29am
Quoting HappyMe
{quote} I don't know what you mentioned.... The level is gone already...it still was a good level and it didn't looked (complete) tested. The price action was nice in my opinion See also the screenshot I took a few post back
I was looking at your intention to monitor on 1.1258, thanks for replying :-)
Take 1 step forward, two small steps back
  • #8,130
  • Jun 9, 2017 7:55am Jun 9, 2017 7:55am
Quoting DrBeercan
{quote} I was looking at your intention to monitor on 1.1258, thanks for replying :-)
is this maybe a closer level for now...I don't think 1.1258 is reachable for today...
Attached Image
You can manage risk, but you can't manage the return
  • #8,131
  • Jun 9, 2017 8:18am Jun 9, 2017 8:18am
I will try AU long 0.7515
Attached Image (click to enlarge)
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Follow the flow of water in a stream
  • #8,132
  • Jun 9, 2017 9:58am Jun 9, 2017 9:58am
you guys still trying to figure it out? its very tough via forex brokers since there pricing is different than real market that causes price to miss by a few that's how they incorporate there spread making you think its only 1 tick but price is away from the real price by at least 3 good luck trading
  • #8,133
  • Jun 9, 2017 2:19pm Jun 9, 2017 2:19pm
today i got :
2 tp ,
1 be,
1 sl today
Kevels sit here from monday or so.
And u know what ?
It was not a good business.


How i do things?
Every level i split in two positions first is 15 pips second 25-45
And im moving it ti be after 8 pips.
All entries have sl of 15-20 pips.

And what happened?
Two trades took sl.
Those with tp really were firs half tps.
Second halves did a be, and then it went to its tp without me.

Moving be too early caused my profit to be zero today.

Well.
Hard 15 pips would make its job today.
Movint sl to be after first halv tp would make it good profit too.

Well, that were my tougths.

I need to do a backtest of my levels somehow to see what do really i miss and what i dont.

Ehh.Need time and will to code.
  • #8,134
  • Edited 2:52pm Jun 9, 2017 2:23pm | Edited 2:52pm
Quoting Divergence
you guys still trying to figure it out? its very tough via forex brokers since there pricing is different than real market that causes price to miss by a few that's how they incorporate there spread making you think its only 1 tick but price is away from the real price by at least 3 good luck trading
true
i tought i lost uj level today 110.47 - according to stooq webpage, and when i checked my account i did one tp and one be today [i split position into two halves]
im not complaining on broker prices anyway. and im not using futures data.
Also : stop throwing very importand sentences based on your toughts and without evidence.You are making damage to all those who are willing to analyse market day by day. Im telling u man if i did not trade any "Dale like" trades it would be profitable for me because im learning how markets move.How uj eu au behave.
What are they going to do next 5 minutes or so iv they appoarch level.
Levels give avesome comfort when trading nu on asian session. I do it manually.
So keep your toughts for yourself.Let us to learn the market. We are becoming traders.Good developer is a bad trader, but here im rly feeling the market. Dont cut our wings please.

maybe take some low spreads broker? without mm?
  • #8,135
  • Jun 10, 2017 2:38am Jun 10, 2017 2:38am
Quoting Divergence
you guys still trying to figure it out? its very tough via forex brokers since there pricing is different than real market that causes price to miss by a few that's how they incorporate there spread making you think its only 1 tick but price is away from the real price by at least 3 good luck trading
.
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  • #8,136
  • Jun 11, 2017 1:52pm Jun 11, 2017 1:52pm
So 1 out out 20 is not the same as 1 out every 3 set ups I will leave this to you guys my last post HERE
  • #8,137
  • Edited 3:26pm Jun 11, 2017 2:19pm | Edited 3:26pm
Hope everybody had a nice weekend!

Well I programmed some add-ons to my EA:
-Positions size by risk%
-Never manage more then x trades at ones by this EA

And besides that I had a wonderful time with my

Oke here are my levels for tomorrow...

EURUSD:
-short: 1.1258
AUDUSD:
-long: 0.7487
-long: 0.7501
-long: 0.7466
USDCAD:
-short: 1.3513
USDJPY:
-long: 109.90
-long: 109.23
-short: 111.61

ps: Never trade my levels blind! I'm still practicing!
You can manage risk, but you can't manage the return
  • #8,138
  • Jun 11, 2017 3:22pm Jun 11, 2017 3:22pm
Quoting HappyMe
Hope everybody had a nice weekend! Well I programmed some add-ons to my EA: -Positions size by risk% -Never trade more then x trades at ones And besides that I had a wonderful time with my Oke here are my levels for tomorrow. EURUSD: -short: 1.1258 AUDUSD: -long: 0.7487 -long: 0.7501 -long: 0.7466 USDCAD: -short: 1.3513 USDJPY: -long: 109.90 -long: 109.23 -short: 111.61 ps: Never trade my levels blind! I'm still practicing!
Great to see you are still going, good weekend this side, pumped up and ready for more trading :-). Going to set some alarms for these levels and see nearer the time.

What do you think on short AU 0.75328? It should hit tonight.
Take 1 step forward, two small steps back
  • #8,139
  • Jun 11, 2017 3:37pm Jun 11, 2017 3:37pm
Quoting DrBeercan
{quote} Great to see you are still going, good weekend this side, pumped up and ready for more trading :-). Going to set some alarms for these levels and see nearer the time. What do you think on short AU 0.75328? It should hit tonight.
That's how I look to it....

If I look to the priceactions last session it looks if this is a Balancing area....price looks hovering end at the end was trying to go down...but not with a strong action. So I think the MP must be threatened like a D-Profile.... if so then the level 0.75328 is the fear price and normally it's a good exit level. From here we can see pos or neg action. In a D-profile we can better expect some support/resistance around the lower/upper levels form the 70% bell-shape (hope you understand what I mean?!) Dale was writing some things about the different profile categories....

So if you want to trade then the 0.7338 can be a shortlevel and the 0,7522 can be a longlevel (look at the Volume)
for the short-level I can't see real price action...so that's not a good level! ....for the longlevel ....yes....maybe around 0,7521-23

But oke....I don't trade them but that would not said it is a good level..... ...

just my 2cents....
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You can manage risk, but you can't manage the return
  • #8,140
  • Jun 11, 2017 3:52pm Jun 11, 2017 3:52pm
Quoting HappyMe
{quote} That's how I look to it.... If I look to the priceactions last session it looks if this is a Balancing area....price looks hovering end at the end was trying to go down...but not with a strong action. So I think the MP must be threatened like a D-Profile.... if so then the level 0.75328 is the fear price and normally it's a good exit level. From here we can see pos or neg action. In a D-profile we can better expect some support/resistance around the lower/upper levels form the 70% bell-shape (hope you understand what I mean?!) Dale was writing...
Great thoughts, I also see over the past few days the price heading downwards. Yep I agree it is a bit of a battlezone stuck between support and resistance even above the 70% VA. Friday was also a very tight range of 25 pips so something is going to give :-) I'll watch it see what it does. It's also been stuck inside an MC since 7th of June :-)

Though 0.7522 short and 0.7338 long to respect the support and resistance zones they sit in?

that's a nice neat profile and view, which are you using again? Apologies you probably mentioned before.
Take 1 step forward, two small steps back
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