Trader Dale - Volume Profile Trading Blog

Video Transcript: All right, guys, back with another video—Sterling here, obviously from Trader Dale. In this video, we’re going to talk about the prop firm evaluation process and how to succeed. In a prior video, we discussed the basic rules required to pass an evaluation. Those rules vary depending on the prop firm you’re with, but we covered an example of that process. This video is geared more towards answering the question: “Okay, those are the basic requirements, but how do you actually go about passing?” The first thing I wrote down here is that success—or failure—is often determined before you even take the challenge. The simple way to measure this is what I always say: if you don’t have at least a month of profitable trading in a demo account, then you’re gambling. And if you know you’re gambling, by all means, do whatever you want—it’s like buying a lottery ticket. But if you’re trying to make money and treat this like a business, you need to be prepared. One of the things we...

Video Transcript: Hello everyone, it’s Dale here, and today I’d like to show you how to trade when the market opens with a gap. I’ll focus mostly on Forex and indexes, where opening gaps are not too common compared to, for example, stocks. However, if you see an opening gap in Forex or on indexes, it represents a very nice trading opportunity. In this video, I’ll show you how to trade these gaps effectively. An opening gap usually forms when significant news occurs over the weekend. If you look at the chart, you’ll see Friday’s closing price, followed by the weekend, during which significant news happens. Then, on Monday, the market opens here, and the opening gap is caused by the news. This is how an opening gap looks. The way to trade gaps is straightforward. First, you need a gap; that’s the initial requirement. Second, you need to see heavy volumes in the zone before the gap. For example, let me use my flexible volume profile here. These are the heavy volumes that occurred before t...

                        Video Transcript: Hello everyone, it’s Sterling here from Trader Dale, back with another video in this prop firm series. In this one, we’re going to cover how prop firms make money. This is a question we get asked a lot—what’s in it for them? How do they make money, and what does that process look like? In general, the primary source of income for a prop firm is the cost of the challenge and people failing those challenges. When traders fail or lose their challenges—and then reset their accounts—that generates the majority of income for a prop firm. Simply put, they make money from losing traders if we simplify it as much as possible. When traders lose, all that money goes to the firm. For example, with Topstep, you might pay $149 for a $150,000 account, or $49 for a $50,000 account. Let’s say you choose the $150,000 account and pay $149 to activate it. Once you pass the challenge, there’s another $149 f...

Do you want ME to help YOU with your trading? Learn my proven Volume Profile & Order Flow trading strategies! Get my proprietary indicators and start making progress. We even set the indicators up for you so you can hit the ground running TODAY! Start Learning to Trade Now! Video Transcript: Hello, everyone! It’s Dale here with a new  weekly trading ideas video . What you see before you is the NinjaTrader 8 platform with my custom-made Volume Profile and VWAP indicators. Let’s jump into the first trading idea, which is on  EUR/USD . This is a 30-minute chart of  EUR/USD , and as you can see, there’s a significant opening gap. The gap is also present on all the major currency pairs. The reason for this gap is most likely related to news you can read on Forex Factory. Here’s the headline: it’s mostly about the pick of the U.S. Treasury Secretary reassuring the bond market. For us as traders, the exact reason for the gap is not as important as identifying trading opportu...