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Daylight Trading Strategy

  • #341
  • Jun 16, 2021 6:21am Jun 16, 2021 6:21am
Hey,

Awesome system. From the screenshot would you have entered at the arrow as it's below the 50. Or would you wait a few candles later for daylight and close below the ma?

For Forex I've been testing 15min aggressive. For Indicies on 5min is it also ok to use aggressive or standard?


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  • #342
  • Jun 16, 2021 6:35am Jun 16, 2021 6:35am
Gold short
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  • #343
  • Jun 16, 2021 7:58am Jun 16, 2021 7:58am
Just a couple of trades.


It is really awesome to see the activity on this thread. This is a great opportunity for those who are wanting to learn solid trading methods.
Laura has done a great job of laying out a trading method for those who are interested. I am of the opinion that her journal is a MUCH more important thread though.
These threads helped me SO much to get back things that I had lost or couldn't retrieve from the depths of my brain.

In April 2015 I had an Aortic Aneurysm that ruptured and I ended up with a 14 hr emergency open heart surgery. During the surgery, I had a stroke that affected my memory among other things. It has taken a lot of time and patience to relearn things that were second nature and trading was one of them.
At one time in my life many years ago, I traded for a living and was pretty damn good at it. I traded for Morgan Stanley in the early 90's and then a private investment bank after that.

After 9/11 I went back to my original profession which was IT and I managed teams of software engineers for the Dept of Army for the next 15 years.

When I retired, I started trying to trade again....and it was BAD....REALLY BAD.

Fast forward to now. Lauras thread was very similar to the way I traded in the past. It gradually started to come back and I am starting to see the results of my efforts. One of the things that I would advise is to not focus on the money....instead focus on execution. Laura has given you a trading guide, now it is your responsibility to implement it. Focus on making sound trading decisions and review your trades to make sure that you followed your plan. We don't know where the market will go so we must have plans for any movement after we enter. Develop your plan and then trade it!
My signature sums this all up.......PLAN...PREPARE...EXECUTE....REPEAT
Many pips!!

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Plan, Prepare, Execute, Repeat
  • #344
  • Jun 16, 2021 8:41am Jun 16, 2021 8:41am
Quoting Canterco
{quote} Hi Laura . . .thanks for the strategy . . .I'm a bit new to M15 t/frames but maybe with them you can start & finish these trades in a sitting : ). Re M15 . . is H4 OK to check/compare trend direction? Also I gather it's best to enter these trades ASAP after the MAs cross, otherwise price can get too far from them?
Hi,

Yes, H4 should be fine as a trend indicator for M15.

When it comes to entries, sometimes it's best to wait for a retracement but other times it just keeps going and doesn't retrace. So unfortunately there isn't a hard and fast rule you can apply. It's a matter of judgement. One 'rule' you can use for yourself though is to not enter on massive bars that have extended too far from the MAs on the main chart. Big moves like that tend to retrace more.
  • #345
  • Jun 16, 2021 8:43am Jun 16, 2021 8:43am
Quoting EthanT
hey Laura i would just like to firmly thank you for providing us with such great and unique ways of being able to entry trades, ive added these confluences to my trading and i have to get used to them more however it makes so much sense...... im currently using this on demo to get familiar with it but im doing well and will soon enough go onto live account! once again thank you very very much !!!!
Hi,

Welcome aboard. Hope your demo trading goes well.
  • #346
  • Jun 16, 2021 8:48am Jun 16, 2021 8:48am
Quoting whiteso
Hey, Awesome system. From the screenshot would you have entered at the arrow as it's below the 50. Or would you wait a few candles later for daylight and close below the ma? For Forex I've been testing 15min aggressive. For Indicies on 5min is it also ok to use aggressive or standard? {image}
Hi,

If taking that approach, I'd likely enter straight away due to the -50 bias.

5m aggressive should be fine for indices most of the time, but sometimes you'll have to switch up to the 15m if things get too choppy. It's really just a case of experience to know when to do so.
  • #347
  • Jun 16, 2021 8:54am Jun 16, 2021 8:54am
Quoting swingtrade65
Just a couple of trades. It is really awesome to see the activity on this thread. This is a great opportunity for those who are wanting to learn solid trading methods. Laura has done a great job of laying out a trading method for those who are interested. I am of the opinion that her journal is a MUCH more important thread though. These threads helped me SO much to get back things that I had lost or couldn't retrieve from the depths of my brain. In April 2015 I had an Aortic Aneurysm that ruptured and I ended up with a 14 hr emergency open heart...
That is quite a journey you have been on. Massive congratulations for having the persistence and tenacity to rebuild your knowledge base after such a setback. Thank you for sharing the details.

It's obvious from your roadmap trades that you were, and still are, a very good trader. The fact you had to learn it all again makes your success even sweeter, I'd imagine.

I'm obviously biased but I agree with you about the Journal Strategies are such a small part of the equation compared to mastering ourselves.
  • #348
  • Jun 16, 2021 9:06am Jun 16, 2021 9:06am
Quoting LauraT
{quote} Yes, negative daylight on WPR is correct. What i'm finding with most instruments is that the winners more than make up for the losers, even when you fail to take into account 'obvious' red flags like key resistance etc. But you are right, if we can steer away from consolidation phases (once we realise we are in one!), we can increase our odds. Here's GU from 6th January 2020 to 1st June 2021, with size of 1 lot per entry on a 10k account: {image} This is based upon nothing very clever. It's simply having a core trading time for entries (1am...
So, I've decided to stick to one pair (EU) and one timeframe (15m) within my trading window which has yet to be determined. I was greatly inspired by these results, and I wanted to create a trading plan I can really rely on. It's often these simple strategies that require you to be on your mental A game, and I plan to develop that from here on out. I'll be spending a lot of time on the sim until I can get good with these trades. Thanks Laura for all the great threads. I'll be here for the long haul
You gotta boop the snoot
Learning to scalp NAS100 Part 2 All Time Return: 0.5%
  • #349
  • Jun 16, 2021 9:23am Jun 16, 2021 9:23am
Quoting HimmerJimmer
{quote} So, I've decided to stick to one pair (EU) and one timeframe (15m) within my trading window which has yet to be determined. I was greatly inspired by these results, and I wanted to create a trading plan I can really rely on. It's often these simple strategies that require you to be on your mental A game, and I plan to develop that from here on out. I'll be spending a lot of time on the sim until I can get good with these trades. Thanks Laura for all the great threads. I'll be here for the long haul
I think there is a lot to like about your approach, especially the development of the mental side of trading.

The only thing I'd perhaps be wary of is choosing just one market. Sometimes when we don't have enough choice open to ourselves, we 'force' a trade when the opportunity really isn't there. Out of boredom or FOMO or whatever.

I'd suggest maybe choosing 3 markets to continually monitor. That way you can at least choose the best looking opportunities across the instruments.

Look forward to reading more about your journey!
  • #350
  • Jun 16, 2021 9:26am Jun 16, 2021 9:26am
Quoting swingtrade65
Just a couple of trades. It is really awesome to see the activity on this thread. This is a great opportunity for those who are wanting to learn solid trading methods. Laura has done a great job of laying out a trading method for those who are interested. I am of the opinion that her journal is a MUCH more important thread though. These threads helped me SO much to get back things that I had lost or couldn't retrieve from the depths of my brain. In April 2015 I had an Aortic Aneurysm that ruptured and I ended up with a 14 hr emergency open heart...
Hello swingtrade65,

May the Almighty bless and keep you safe my friend.Amazing story,one minute you're here and ok and the other you never know....this is life we have to accept the ups and downs in trading and health too. We're avery fortunate having you here typing such a heartbreaking story,thank you for sharing.

Back in 2010 I injured my back via a slip disc,like 11 yrs ago,unable to play sports,like cricket football
(I love pool,i'm able to play) and not enjoy other outdoor sports,I needed surgery but believed i could cure myself via holistic healing and it worked well,namely accupuncture.Here I am able to sit at my desktop pc and type fluently,no pain again.

As an IT admin(20+ yrs exp),I lost my job (largest law firm in my city) in 2020,ex-boss said he can't afford to pay me anymore and he decided to not call or contact me,but had a replacement doing my work,for much cheaper,just imagine that( pandemic revealed the true nature of some bosses), while I thought I'm still hired and going to the office.I found out and immediately demanded a letter of resignation .I still have good relations with the staff there because I did nothing wrong and in life your character is everything as a human being,you must preserve that to earn respect.I'm a full time trader now.

Laura has been inspirational to everyone on FF,her style of teaching is that type of University lecturer.Where you're guaranteed not to fail once you focus,do assignments,past papers and not become a dropout of course the years might just be wasted. Appreciate educators when they are around good people are hard to find now in life,the old school type are the best ones,I believe in that.Take your trading seriously as a career and discipline,study well and understand from the basics to advanced level.Try your best not to pay for any courses,signals,EAs,acct management......do it yourself,invest in yourself
Continue having a great week ahead. be safe out there.
  • #351
  • Jun 16, 2021 10:02am Jun 16, 2021 10:02am
Quoting swingtrade65
Just a couple of trades. It is really awesome to see the activity on this thread. This is a great opportunity for those who are wanting to learn solid trading methods. Laura has done a great job of laying out a trading method for those who are interested. I am of the opinion that her journal is a MUCH more important thread though. These threads helped me SO much to get back things that I had lost or couldn't retrieve from the depths of my brain. In April 2015 I had an Aortic Aneurysm that ruptured and I ended up with a 14 hr emergency open heart...
Well, quite a life story...
As regards RSI DUO - are you using the default settings for MA for fast RSI (8) and MA for slow RSI (8)?
Thanks.
  • #352
  • Jun 16, 2021 10:14am Jun 16, 2021 10:14am
Quoting MidnightRun
{quote} Well, quite a life story... As regards RSI DUO - are you using the default settings for MA for fast RSI (8) and MA for slow RSI (8)? Thanks.
I use 8 / 13
Plan, Prepare, Execute, Repeat
  • #353
  • Jun 16, 2021 1:10pm Jun 16, 2021 1:10pm
Laura,

Just wanted to say thanks. While I found your 'Trading Made Simple' method intuitive, that darned day job kept me from being able to actively monitor. This new method lets me trade at a higher timeframe (H4/D1) with some confidence. Just had my first 100+ pip day in a long time. Thank you, thank you, thank you!
  • #354
  • Edited 1:54pm Jun 16, 2021 1:18pm | Edited 1:54pm
congratulations to all AUDUSD traders. -1% to +2% profit for me .I trade too much ... I have to stop it.
patience, patience, patience
Not aal minus for AUDUSD i trade unfortunately something index too. there minus came.
  • #355
  • Jun 16, 2021 4:45pm Jun 16, 2021 4:45pm
Anyone catch EU last night would of been a nice trade.. i was put of by the news tho.
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  • #356
  • Jun 16, 2021 6:37pm Jun 16, 2021 6:37pm
Quoting swingtrade65
Just a couple of trades. It is really awesome to see the activity on this thread. This is a great opportunity for those who are wanting to learn solid trading methods. Laura has done a great job of laying out a trading method for those who are interested. I am of the opinion that her journal is a MUCH more important thread though. These threads helped me SO much to get back things that I had lost or couldn't retrieve from the depths of my brain. In April 2015 I had an Aortic Aneurysm that ruptured and I ended up with a 14 hr emergency open heart...
A sobering story, congratulations. Everyone on here should check the simplicity of the charts of Laura and your good self. It never fails to amaze me why so many people have to add more and more lines and indicators, until their charts look like a map of the London Underground. For me, I think Laura's systems make every other method on FF redundant.
All you touch and all you see, is all your life will ever be.
  • #357
  • Jun 17, 2021 12:36am Jun 17, 2021 12:36am
LauraT i was wondering i have noticed that the wiliams% line often bounce off the 50% line after breaking above.

Forgive the date i was back testing thought it was interesting.
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  • #358
  • Jun 17, 2021 1:21am Jun 17, 2021 1:21am
Quoting PhillipmC
Anyone catch EU last night would of been a nice trade.. i was put of by the news tho. {image}
With news, you don't look at the 1-Hour chart, actually, it was quite easy as there was no yo-yo Price Action

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It takes a lot for me to IGNORE you, but you can try.
  • #359
  • Jun 17, 2021 1:53am Jun 17, 2021 1:53am
Quoting Erebus
{quote} With news, you don't look at the 1-Hour chart, actually, it was quite easy as there was no yo-yo Price Action {image}
When I trade any USD pair.....DXY is all that matters, if news does not affect the base or quote currency being USD, i'll be checking economic calendar on other currencies.

Dollar was already rising yesterday prior to FOMC IRD and it remained that way,very good price action pattern.
  • #360
  • Jun 17, 2021 1:58am Jun 17, 2021 1:58am
Took some pips from XAU/USD just now

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