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Trader Dale - daily trading levels

  • #8,241
  • Jun 16, 2017 4:15am Jun 16, 2017 4:15am
Quoting GU-Night
{quote} . {image}
So I guess this week sucked for everybody
thinking outside the box
  • #8,242
  • Jun 16, 2017 4:18am Jun 16, 2017 4:18am
Quoting Mercennary
{quote} So I guess this week sucked for everybody
yes...you can say it like that....
You can manage risk, but you can't manage the return
  • #8,243
  • Jun 16, 2017 4:26am Jun 16, 2017 4:26am
I didn't have too bad a week mostly because I have been too busy at work! Luckily it happened during quadruple week!
Take 1 step forward, two small steps back
  • #8,244
  • Jun 16, 2017 4:31am Jun 16, 2017 4:31am
anybody knows how Dale is/was doing?
You can manage risk, but you can't manage the return
  • #8,245
  • Jun 16, 2017 4:51am Jun 16, 2017 4:51am
Quoting DrBeercan
I didn't have too bad a week mostly because I have been too busy at work! Luckily it happened during quadruple week!
That, and this. Probably.
Attached Image (click to enlarge)
Click to Enlarge Name: News.png Size: 40 KB
  • #8,246
  • Jun 16, 2017 5:15am Jun 16, 2017 5:15am
Quoting GU-Night
{quote} 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.
Hi GU-Night,

I thought about this...actually what you are saying is:

Trade is entered
At one point trade goes against you (negative) => at which point you starting be suspicious? (time, level...,%, pips towards SL, etcetc..?)
If price becomes positive you start monitor price.
If price goes again towards entrypoint => at which point you start thinking about closing the trade? (time, level...,%, pips in profit, etcetc..?)
Close trade to protect your Balance

Please correct me if I'm wrong! Could you be kind to specify my bold questions a little bit more?
You can manage risk, but you can't manage the return
  • #8,247
  • Jun 16, 2017 5:15am Jun 16, 2017 5:15am
Has somebody seen this? Non-commercial Dale is back? https://www.forexfactory.com/showthread.php?t=669750
  • #8,248
  • Jun 16, 2017 5:26am Jun 16, 2017 5:26am
Quoting GU-Night
Has somebody seen this? Non-commercial Dale is back? https://www.forexfactory.com/showthread.php?t=669750
No I didn't....that's "Dale version2.0" .....

Well I don't think it's him ...that would be stupid for people who are paying his service.
But yes I believe it's exact the same method.... he needs to come overhere .....
You can manage risk, but you can't manage the return
  • #8,249
  • Jun 16, 2017 5:29am Jun 16, 2017 5:29am
Quoting HappyMe
{quote} Hi GU-Night, I thought about this...actually what you are saying is: Trade is entered At one point trade goes against you (negative) => at which point you starting be suspicious? (time, level...,%, pips towards SL, etcetc..?) If price becomes positive you start monitor price. If price goes again towards entrypoint => at which point you start thinking about closing the trade? (time, level...,%, pips in profit, etcetc..?) Close trade to protect your Balance Please correct me if I'm wrong! Could you be kind to specify my bold questions a little...
Look at the screenshot. And that is actually also the moment where I start thinking about closing the trade at BE. But this is a little discretionary because if price starts to sell of like crazy from that point I keep the trade open, of course.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY.png Size: 12 KB
  • #8,250
  • Jun 16, 2017 7:54am Jun 16, 2017 7:54am
Working from home today, so had the opportunity to trade manually with stop order.
The US macro news prompted the GBP spike and nice reaction from my level. Happy days!
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 192 KB
  • #8,251
  • Edited 8:55am Jun 16, 2017 8:43am | Edited 8:55am
Quoting spynoza
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 {image}
UC hit SL -12, UJ hit TP +14
Win : Loss = 11 : 9 (124 pips : 109 pips)
Follow the flow of water in a stream
  • #8,252
  • Jun 16, 2017 12:52pm Jun 16, 2017 12:52pm
I came across this video and thought it might be a good idea. Have been back testing though not with Stochastic but with strength meter. Might be worth a watch?

https://www.youtube.com/watch?v=Z_i9u-xgNRU&t=550s

Have a great weekend all.
Take 1 step forward, two small steps back
  • #8,253
  • Jun 17, 2017 12:53am Jun 17, 2017 12:53am
Quoting HappyMe
{quote} Hi GU-Night, I thought about this...actually what you are saying is: Trade is entered At one point trade goes against you (negative) => at which point you starting be suspicious? (time, level...,%, pips towards SL, etcetc..?) If price becomes positive you start monitor price. If price goes again towards entrypoint => at which point you start thinking about closing the trade? (time, level...,%, pips in profit, etcetc..?) Close trade to protect your Balance Please correct me if I'm wrong! Could you be kind to specify my bold questions a little...
This is from Dale's website.
Attached Image (click to enlarge)
Click to Enlarge Name: Position_BE.png Size: 45 KB
  • #8,254
  • Jun 17, 2017 1:29am Jun 17, 2017 1:29am
Quoting GU-Night
{quote} Look at the screenshot. And that is actually also the moment where I start thinking about closing the trade at BE. But this is a little discretionary because if price starts to sell of like crazy from that point I keep the trade open, of course. {image}
This tradingsstyle is about aggressive buyers and sellers. So if you don't see aggressive buying at your long level or aggressive selling at your shortlevel; you need to get out of the trade!
  • #8,255
  • Jun 17, 2017 2:05am Jun 17, 2017 2:05am
Quoting DrBeercan
I came across this video and thought it might be a good idea. Have been back testing though not with Stochastic but with strength meter. Might be worth a watch? https://www.youtube.com/watch?v=Z_i9u-xgNRU&t=550s Have a great weekend all.
Have you seen the first comment? At 28:30 the guy discusses a profile which was not formed at the moment the market was there. That gives me the idea that he is a in hindsight trader. I didn't see the rest of the video.
  • #8,256
  • Jun 17, 2017 2:59am Jun 17, 2017 2:59am
Quoting GU-Night
{quote} Have you seen the first comment? At 28:30 the guy discusses a profile which was not formed at the moment the market was there. That gives me the idea that he is a in hindsight trader. I didn't see the rest of the video.
Indeed and there is a mention of that not sure at what time. But he then says how do you see this when it is forming the answer is doing what we do, looking at the last completed profile and looking back to S n R levels. The point is how to look for divergence and convergence in a simple form and how it relates to the last low volume. The plan is to look for reversals, breaks and last low volume to the previous profile. I had bad end on Friday had I followed the plan I created out of this it would of been a good Friday! Going to test it out this week.

I agree with you, lots of videos show you things on charts already formed. I plan to create a screenshot when I evaluate and after.
If I start getting consistent I will write something up :-)
Take 1 step forward, two small steps back
  • #8,257
  • Edited Jun 19, 2017 4:10am Jun 18, 2017 8:56pm | Edited Jun 19, 2017 4:10am
My levels today :

EU : long 1.1181//1.1161 short 1.1226
AU : long 0.7593//0.7568 short 0.7658
UJ : long 110.08//109.92 short 111.32
UC : long 1.3201//1.3185 short 1.3253//1.3289

edit : EU long 1.1181 tested...UC short 1.3253 tested...
edit2 : AU long 0.7593 hit TP +10

Win : Loss = 12 : 9 (134 pips : 109 pips)
Follow the flow of water in a stream
  • #8,258
  • Edited 2:38am Jun 19, 2017 2:27am | Edited 2:38am
Quoting GU-Night
{quote} This is from Dale's website. {image}
Thank you very much!! I will look to this the coming days.

In the less free-time I had this weekend (the weather was to good to sit inside ) I transformed my EA from an input-screen (for levels and rednews windows) to an input-file EA. Now I just can add the levels into a file and the EA is picking up the levels and rednews windows. anyway it looks functioning again .

Next step (and this was why I changed the input method) I want to add a start-time for the given level...

Anyway if that is all finished then I will look to the aggressive buyers and sellers thing. If no aggression get out of the trade!

I want to try to program this because I believe this is the life-guard of the whole Level-Picking methode...Hope this is doable...
You can manage risk, but you can't manage the return
  • #8,259
  • Jun 19, 2017 6:58am Jun 19, 2017 6:58am
Quoting HappyMe
{quote} Thank you very much!! I will look to this the coming days. In the less free-time I had this weekend (the weather was to good to sit inside ) I transformed my EA from an input-screen (for levels and rednews windows) to an input-file EA. Now I just can add the levels into a file and the EA is picking up the levels and rednews windows. anyway it looks functioning again . Next step (and this was why I changed the input method) I want to add a start-time for the given level... Anyway if that is all finished then I will look...
Good to hear, apologies if I missed the point, are you also going to think about restricting times to trade. For example 7am to 11am GMT you get big moves. The lunch time in the UK you get slow until 1PM for example. So you only enter when the traders are most active.
Take 1 step forward, two small steps back
  • #8,260
  • Jun 19, 2017 7:33am Jun 19, 2017 7:33am
Quoting DrBeercan
{quote} Good to hear, apologies if I missed the point, are you also going to think about restricting times to trade. For example 7am to 11am GMT you get big moves. The lunch time in the UK you get slow until 1PM for example. So you only enter when the traders are most active.
No that's not my first intention....

It has to do with my level checkprocedure. I check the level from the start of the session untill currenttime....all was working fine but if I want to set a level that already was a pricelevel that day/session...then it was always showed as (not valid...already triggerd). Well I just want to set that level from a specific time....

Because of that wish I need to add a time-component in the level. Given all those info into the default input screen of an EA is a little difficult. So that's why I wanted just a text-file as input. You type the new info...., you check it...., you save it and a restart or reinit of the EA is doing the job.

Hope you understand what I mean....
You can manage risk, but you can't manage the return
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