Video Transcript:
Hey
everyone, it’s Dale here. I decided to start shooting these short videos about
my recent trades so you guys know what I’m up to all day. Let’s start with two
trades I had yesterday. They were on NQ and ES.
Maybe
you guys saw the prediction on TradingView because I posted it on Monday. I
also sent it in an email. Here is the prediction on ES and how it played
out. Also, here is the prediction on NQ, and this is how that one played
out.
Now
let me switch over to the NinjaTrader 8 platform and show you how I traded
this.
Alright,
this is the NinjaTrader 8 platform. This is the ES chart, a 30-minute chart of
ES. Here is the level—this is the long level. It was based on a significant
volume cluster formed within an uptrend. Also, let me zoom out a little bit. It
was based on the fact that the price had reacted to this zone in the past—not
exactly to the level, but close enough—so that was more or less the reasoning
behind that level.
As
you can see, the price reacted very nicely to it. My stop loss was placed right
here, at the bottom of this candle. Regarding my take profit, I usually aim for
a bigger risk-reward ratio than 1:1. In this case, though, I just took a trade
with a 1:1 risk-reward ratio. My take profit was right here. The reason for
that was that if you look here, the price made a strong reaction to this level
in the past. When the price blew past that level, it turned into resistance, so
there was a risk the price would react again at this resistance. That’s why I
closed my trade here.
This
wasn’t the only reason I didn’t go for a bigger risk-reward ratio. Another
reason was that I was trading against a strong spike move, which made this a
riskier trade overall. That’s why I wanted to exit the trade quickly—I didn’t
know if the move could continue strongly against me, so I preferred to secure
my profit before anything like that happened.
There
was also a third reason: at the same time, I was also long on another trade on
NQ. These trades were very similar. Let me show you the NQ chart now.
In
this case, the level was based on the daily volumes. This was the long level,
and as you can see, there was also a sharp sell-off here. Again, I was trading
against a strong spike. I entered two long positions against that strong spike,
and since NQ and ES are very correlated pairs, they often move the same way.
This meant I was exposing myself to quite a bit of risk by taking both trades
simultaneously. That’s why I aimed for a 1:1 risk-reward ratio and exited both
trades quickly.
On
NQ, my stop loss was here, and my take profit was roughly around here. There
was also a past reaction at this level, so I figured the price could
potentially reverse from that point, making it an ideal place to exit the
trade.
Sure,
if you look at the chart now, it’s clear I could have held the trade longer and
made a much larger profit. But that’s hindsight. In the moment, while trading
live, it wasn’t clear. I didn’t want to risk exposing myself too much and
potentially take double the loss on both trades if they went against me.
Fortunately, both trades worked out nicely, and I secured profits on both. I’d
say all is good.
There
was also one trade in that prediction I sent out on the AUD/USD.
However, the long level I published here got missed—right around here. After
the price reacted slightly before hitting the level, I discarded the trade
setup and no longer wanted to trade that level.
So,
those were the trades I wanted to show you. Of course, I have more trades, but
I wanted to focus on the ones based on the public predictions I shared. I also
post daily predictions in the members’ area—this is how it looks. These are the
latest predictions I published yesterday, and this is what I’m trading or
planning to trade today.
If
you want to join us, just go to my website at trader-dale.com. If you click on Trading
Course and Tools, it will take you to this page, where you can browse
my trading courses, custom indicators, and join us.
That’s about it! I hope you liked the video. Let me know in the comments if you like this format, if you’d like to see something different, or if you have any ideas on how to improve it. I’ll be looking forward to seeing you next time in another video. Until then, happy trading!
