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Trader Dale - daily trading levels

  • #8,221
  • Edited 5:12pm Jun 14, 2017 4:59pm | Edited 5:12pm
Would AUDUSD 0.75585 Long be worth sticking in?
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  • #8,222
  • Jun 15, 2017 1:30am Jun 15, 2017 1:30am
Quoting HappyMe
For tomorrow I only have 3 levels. The swings where so volatile. In most pairs I have not a real clue which direction to choice.... so I'm a little flat for the rest tomorrow. Hopefully tomorrow it's more clear what the way to go is. ps. Don't trade my levels blind, I'm still practicing {image}
AUDUSD level was reached within the RedNews window => No Trade for me....unfortunatly....
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You can manage risk, but you can't manage the return
  • #8,223
  • Jun 15, 2017 1:39am Jun 15, 2017 1:39am
Quoting HappyMe
For tomorrow I only have 3 levels. The swings where so volatile. In most pairs I have not a real clue which direction to choice.... so I'm a little flat for the rest tomorrow. Hopefully tomorrow it's more clear what the way to go is. ps. Don't trade my levels blind, I'm still practicing {image}
I updated my levels....

ps: don't trade my levels blind, I'm still practising
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You can manage risk, but you can't manage the return
  • #8,224
  • Jun 15, 2017 1:41am Jun 15, 2017 1:41am
Quoting HappyMe
{quote} AUDUSD level was reached within the RedNews window => No Trade for me....unfortunatly.... {image}
Can you tell me the reasoning behind that level? I see two volume clusters in that area, why did you choose the 0.7628 instead of the 0.7619? I never know which one to take in such a situation.
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  • #8,225
  • Jun 15, 2017 1:45am Jun 15, 2017 1:45am
Good start of day, I had set AUDUSD buy limit order at 0.761 before went to bed and 15 pip TP triggered. Happy!
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  • #8,226
  • Jun 15, 2017 1:57am Jun 15, 2017 1:57am
Quoting GU-Night
{quote} Can you tell me the reasoning behind that level? I see two volume clusters in that area, why did you choose the 0.7628 instead of the 0.7619? I never know which one to take in such a situation. {image}
The last spike triggered me that the higher cluster was maybe more important then the first one... That's why I placed my bad on the Higher level.
You can manage risk, but you can't manage the return
  • #8,227
  • Jun 15, 2017 3:38am Jun 15, 2017 3:38am
Quoting HappyMe
{quote} The last spike triggered me that the higher cluster was maybe more important then the first one... That's why I placed my bad on the Higher level.
In following trend trade i pick first cluster of two close ones.on countertrend i do sellect few pips after second cluster,if they are close peaks tpo or tick vol activity.also :when im having extreme tested and rejected with hi vol i look at cluster beyondit i there is any aand position level in respect of it.
  • #8,228
  • Jun 15, 2017 4:08am Jun 15, 2017 4:08am
Quoting HappyMe
For tomorrow I only have 3 levels. The swings where so volatile. In most pairs I have not a real clue which direction to choice.... so I'm a little flat for the rest tomorrow. Hopefully tomorrow it's more clear what the way to go is. ps. Don't trade my levels blind, I'm still practicing {image}
I bought basket yesterday paying for it with kiwi
  • #8,229
  • Jun 15, 2017 4:15am Jun 15, 2017 4:15am
Quoting fxdude1
Good start of day, I had set AUDUSD buy limit order at 0.761 before went to bed and 15 pip TP triggered. Happy! {image}
Great news, I did a long order at the low volume part at 0.75947 (there abouts!) and woke up to a 20 pip win :-)
Take 1 step forward, two small steps back
  • #8,230
  • Edited 5:36am Jun 15, 2017 4:48am | Edited 5:36am
AU triggered.

Edit: Out at BE.
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  • #8,231
  • Edited 7:46am Jun 15, 2017 5:21am | Edited 7:46am
I will try EU long 1.11405 & UC short 1.33270

edit : and UJ short 110.715
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Follow the flow of water in a stream
  • #8,232
  • Jun 15, 2017 6:10am Jun 15, 2017 6:10am
Quoting DrBeercan
{quote} Hi Spynoza, did you have your order in whilst news hit? That level seems to have kicked in during news time? Sorry to see it though :-(
Yes I ordered it when red news came, my idea is how my custom indi predict when red news, though had a profit of about 4 or 5 pips, but ended up losing.
Follow the flow of water in a stream
  • #8,233
  • Jun 15, 2017 6:18am Jun 15, 2017 6:18am
Quoting GU-Night
AU triggered. Edit: Out at BE. {image}
I like to think like this; a level simply plays out in my favour or it doesn't. After the entry anything can happen and it is the job of the trader to anticipate the 'market feedback'. If the market feedback is positive for the trade; stay in. If it is negative, get out. Simple. I believe that is the reason why I rarely lose 12 pips with this strategy.

This makes the entry levels and strategy less important, I don't have to predict, or be right with my levels. I just have to anticipate the market feedback after the entry to make profit in the long run.

That my level breaks and that it comes back and gives me a change to get out at breakeven (it happens over and over) before it hits my stoploss is the greatest advantage from this style of trading for me.
  • #8,234
  • Jun 15, 2017 6:43am Jun 15, 2017 6:43am
Quoting GU-Night
{quote} I like to think like this; a level simply plays out in my favour or it doesn't. After the entry anything can happen and it is the job of the trader to anticipate the 'market feedback'. If the market feedback is positive for the trade; stay in. If it is negative, get out. Simple. I believe that is the reason why I rarely lose 12 pips with this strategy. This makes the entry levels and strategy less important, I don't have to predict, or be right with my levels. I just have to anticipate the market feedback after the entry to make profit in...
You have a point here..... just my SL touched again

How are you calculate or judge the market feedback? What ere your rules here?
You can manage risk, but you can't manage the return
  • #8,235
  • Edited 7:32am Jun 15, 2017 7:21am | Edited 7:32am
Quoting HappyMe
{quote} You have a point here..... just my SL touched again How are you calculate or judge the market feedback? What ere your rules here?
If your level breaks. That means for me a 5 minute close, 6,7,8 pips beyond your entry level. The point is; support becomes resistance and vice versa. So if the trade goes against you, your entrylevel turns support if it was resistance and vice versa, during the trade. Which is not in your favour, but gives an excellent opportunity to get out at breakeven. Or even to reverse the trade.
  • #8,236
  • Jun 15, 2017 10:35am Jun 15, 2017 10:35am
Quoting spynoza
I will try EU long 1.11405 & UC short 1.33270 edit : and UJ short 110.715 {image}
EU hit TP +10, UJ hit TP +14

Win : Loss = 10 : 8 (110 pips : 97 pips)
Follow the flow of water in a stream
  • #8,237
  • Jun 15, 2017 5:23pm Jun 15, 2017 5:23pm
My levels for tomorrow sessions
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  • #8,238
  • Jun 15, 2017 9:12pm Jun 15, 2017 9:12pm
My levels today :

UC : long 1.32352//1.31755 - short 1.33548//1.34145
AU : long 0.75431//0.75044 - short 0.76207//0.76594
EU : long 1.10841//1.10193 - short 1.12137//1.12785
UJ : long 109.816//109.036 - short 111.374//112.154
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Follow the flow of water in a stream
  • #8,239
  • Jun 16, 2017 2:09am Jun 16, 2017 2:09am
Don't know how but I complete forgot, it is Quadruple Witching week where four different types of options end. Check this guy's posts they are entertaining to say the least I think. Where Options and Futures expire.

http://www.sidewaysmarkets.com/
Take 1 step forward, two small steps back
  • #8,240
  • Jun 16, 2017 3:54am Jun 16, 2017 3:54am
Quoting GU-Night
How do you do? I decided to have a breakeven week. 5x BE, 1x full SL, 1x ziggy SL (-2.9), 1x TP {image} {image} {image} {image} {image}
.
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