Download Trader Dale - Volume Profile Video Course

So should the price go down?

 

A circumstance has arisen. Trapped buyers. I opened sell positions.

 

I decided to close my position. $ 59 profit. The price was approaching the resistance level for trapped sellers. I probably closed too early, the price will probably fall even further...

 

Well, i've watched the first course and then I moved to the second one and watched maybe half of it but then I couldn't get myself to continue. It is very very dry. He doesn't get to the point and ends up repeating himself. I'm not saying it's a bad course but he could have made it shorter. Like 1/4 of what it is now. I think he covers it better in his YT videos. He has trade examples and the videos are like 8 to 15 minutes long and he explains what he was thinking and why he took the trade. He also does show his monthly performance and every now and then you see a little bit of red but most of it is green. Also, when i first saw an add from him i noticed he had over 10 verified accounts on myfxbook and he traded on real accounts and they were all positive AND those accounts are still there. https://www.myfxbook.com/members/VerifiedTrading/g7fx/7393900 You can see the rest at the bottom of the page.

I think he is legit. He does however have more trading experience so we have to learn some tough lessons to get similar results. So far i like what i am seeing on the DOM.

 

This is what looks like very good conditions for keeping sales. Unfortunately, I always have a big problem with holding a profit position and even more with holding a loss position - my psyche.

 

I'm curious about your theory, the number of contracts at this level ...

 

Quite possible. I just know from experience that something that works for someone doesn't have to work for you. He talks a lot ... I like particulars and specific situations.

 

The number of offers is growing ... The price is approaching the level ...

 

I should hold positions to sell ...

 

I'm not sure that showing a % helps me. I think this is the big picture of his trading method but explained in a short video with trading a example. Why he entered, what he was thinking, what he notices, long tail, absorption, etc.

 

The percentage was included / shown only for guidance. It's just a percentage breakdown of the number of contracts. Buying and selling, i.e. in which direction the market will go, is already a guessing game

 

Nobody likes to hold a losing position. We all hope it will come back and we can close at BE or in profit but it's better to take small profits and use tighter SL and lose only a little and then keep going.

 

I should have held the position ...

 

Yep...

 

So I didn't see any indication that DOM could help. In this case, however, the combination of manually marked POC levels (using the volume) and the information from NOBS + KISS gave me such an opportunity.

 

I can't quite make what is going on on that chart. What were you trading? Euro futures?

Well did you see big buy orders? If not, then it would make sense to keep the trade open. You can also take partial profits and move the SL to BE or lower to lock in some profits just in case.

 

Manually marked POC levels.

 

Big buy orders have been swept by sellers ...