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Daylight Trading Strategy

  • #381
  • Jun 17, 2021 8:13am Jun 17, 2021 8:13am
Quoting BlackNapkins
Dear fellow traders... First of all, I would like to thank Laura T for her generosity. Time as we all know well is the most expensive commodity in the world, simple priceless … Thank You very much for your time Laura spent here on FF with us, for us. Please find enclosed some work I have done… maybe it will help someone … I took last five weeks on Cable and was looking for entries according to rules of aggressive approach and what those entries can generate. M15 timeframe was my object of observations. As many as 45 entries were found… I would say...
i use to trade GU exclusively and when i like the results from my testing too i will only use the approach on GU and include it into my tradingstyle.
trading is like dancing, don't think and just listen to the music!
  • #382
  • Jun 17, 2021 8:57am Jun 17, 2021 8:57am
Quoting BlackNapkins
Dear fellow traders... First of all, I would like to thank Laura T for her generosity. Time as we all know well is the most expensive commodity in the world, simple priceless … Thank You very much for your time Laura spent here on FF with us, for us. Please find enclosed some work I have done… maybe it will help someone … I took last five weeks on Cable and was looking for entries according to rules of aggressive approach and what those entries can generate. M15 timeframe was my object of observations. As many as 45 entries were found… I would say...
Thank you very much for the work you've put into this.

You're right, there will be huge variation in results based on trader decisions but the spreadsheet is a good indication of what's possible.
  • #383
  • Jun 17, 2021 9:02am Jun 17, 2021 9:02am
Stopped out on AUDJPY

Attached Image (click to enlarge)
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Plan, Prepare, Execute, Repeat
  • #384
  • Jun 17, 2021 9:06am Jun 17, 2021 9:06am
Quoting swingtrade65
Stopped out on AUDJPY {image}
Confused about selling with a buy signal.....looks very early type aggressive,as the cross never dreamed to happen before you pull the trigger lol

This is a hack ....I see some multiple entries after the cross
  • #385
  • Edited 9:26am Jun 17, 2021 9:13am | Edited 9:26am
Quoting scsstnt
{quote} Confused about selling with a buy signal.....looks very early type aggressive,as the cross never dreamed to happen before you pull the trigger lol This is a hack ....I see some multiple entries after the cross
Sorry...this was taken on the 1 hr chart....much different look.....

***As a side note, that is not a buy signal I would be interested in at all ......Looking left there is a big down bar which equals sellers.....Second, the cross was well below the midline and those dont interest me because the upside is generally limited. I only have the money and time to do so many trades, I don't like to waste either with marginal setups. I am looking for the A1 setups where things are getting ready to launch or fall off the cliff********
Just my .02

Attached Image (click to enlarge)
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Plan, Prepare, Execute, Repeat
  • #386
  • Jun 17, 2021 9:39am Jun 17, 2021 9:39am
Quoting swingtrade65
{quote} Sorry...this was taken on the 1 hr chart....much different look..... ***As a side note, that is not a buy signal I would be interested in at all ......Looking left there is a big down bar which equals sellers.....Second, the cross was well below the midline and those dont interest me because the upside is generally limited. I only have the money and time to do so many trades, I don't like to waste either with marginal setups. I am looking for the A1 setups where things are getting ready to launch or fall off the cliff******** Just my .02...
Yes man, this is solid like a rock......the market structure encourages sellers,you chart says it all keep safe
  • #387
  • Jun 17, 2021 10:14am Jun 17, 2021 10:14am
+207 Dow. 1H aggressive -50 cross.

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This is one where my entry could have been much better, had I waited for the retracement.
  • #388
  • Jun 17, 2021 10:51am Jun 17, 2021 10:51am
GBPJPY short. 5m aggressive.

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Waited for price to get on the 'wrong' side of the channel and then return to the correct side.
  • #389
  • Jun 17, 2021 11:00am Jun 17, 2021 11:00am
Quoting LauraT
+207 Dow. 1H aggressive -50 cross. {image} This is one where my entry could have been much better, had I waited for the retracement.
Yes,I saw it,this would be the next candle that went inside the channel. Does a retracement entry consists one in which price retraces inside the channel without candle closing within that area?
  • #390
  • Jun 17, 2021 11:09am Jun 17, 2021 11:09am
Quoting scsstnt
{quote} Yes,I saw it,this would be the next candle that went inside the channel. Does a retracement entry consists one in which price retraces inside the channel without candle closing within that area?
It can be any variety really. It can be one that closes inside the channel or one where price temporarily goes inside the channel or gets close to it.

The general idea is that, if price travels too far away from the channel, you try to wait for a better price. Of course, the risk then becomes that the market just keeps going and going and you never get an entry.
  • #391
  • Jun 17, 2021 11:26am Jun 17, 2021 11:26am
Quoting LauraT
{quote} It can be any variety really. It can be one that closes inside the channel or one where price temporarily goes inside the channel or gets close to it. The general idea is that, if price travels too far away from the channel, you try to wait for a better price. Of course, the risk then becomes that the market just keeps going and going and you never get an entry.
It's acceptable taking a loss even when price goes to the wrong side of the channel and never returns,the risk is much lower,just as your example where price travels too far away from the channel and getting in there.Sometimes the trend is very strong and retracements may well be less than 25% each time.....


Thank you again :-) Laura
  • #392
  • Jun 17, 2021 11:49am Jun 17, 2021 11:49am
Quoting scsstnt
{quote} It's acceptable taking a loss even when price goes to the wrong side of the channel and never returns,the risk is much lower,just as your example where price travels too far away from the channel and getting in there.Sometimes the trend is very strong and retracements may well be less than 25% each time..... Thank you again :-) Laura
Yes, precisely. Waiting on the retrace opens you up to perhaps more risk of being on the wrong side of a reversal. But the flipside is the opportunity for a 'better' priced entry and a smaller loss if you are wrong.
  • #393
  • Jun 17, 2021 12:09pm Jun 17, 2021 12:09pm
CADJPY short. 1H aggressive -50 line cross.

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  • #394
  • Jun 17, 2021 12:31pm Jun 17, 2021 12:31pm
This week's result ... little time spent trading, mostly backtests ...

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A few ideas crossed my mind based on the Daylight Trading System.
I don't think about the improvements, rather some different kind of approach ...
Will not trade this Friday, so
Have a good weekend …
  • #395
  • Jun 17, 2021 12:42pm Jun 17, 2021 12:42pm
Hi Laura, could you kindly advice me on the following?

This is a GBPUSD trade I took today.

Entry:

I entered at the candle marked with a red arrow. At the time there was no daylight between the MAs in the sub window. They were on top of each other. I entered because,

1. It was a retracement candle that followed few candles that met the entry criteria, so I got a better price.
2. At the time of entry, the red MA was below the -50 line.

I didn't exit the trade at the candle marked with a horizontal line nor the 2 candles before that (even though the exit signals were very clearly shown) because,

1. Still the red MA was below the -50 line.
2. the red MA was below the -50 line on the 1H chart and the 4H chart as well.

Do you advice entering such trades and/or staying in the trade like I did in situations like that? Or was it too risky? I'm sorry for my English if I'm not being clear, it's not my first language.

Thank you in advance.
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  • #396
  • Jun 17, 2021 12:53pm Jun 17, 2021 12:53pm
Quoting SlownSteadyy
Hi Laura, could you kindly advice me on the following? This is a GBPUSD trade I took today. Entry: I entered at the candle marked with a red arrow. At the time there was no daylight between the MAs in the sub window. They were on top of each other. I entered because, 1. It was a retracement candle that followed few candles that met the entry criteria, so I got a better price. 2. At the time of entry, the red MA was below the -50 line. I didn't exit the trade at the candle marked with a horizontal line nor the 2 candles before that (even though the...
Hi,

No problem with your English.

Although I understand your reasoning for entering there, I think it's generally better to enter when momentum is in your favour. Most of the time, I'd prefer that the sub-window MAs be sloping downward for a short entry.

However, as you correctly identify, you were trying to get in on a retracement so you were likely well aware of the risk of a full reversal.

You were right not to exit at your line due to the MAs still being below -50. And you got the right result in the end - well done.
  • #397
  • Jun 17, 2021 1:05pm Jun 17, 2021 1:05pm
I admire all the time and effort you put into this project again, you are a remarkable and such a wonderful woman, helping lots of aspiring traders to go after a dream... I am sure it will be helpful to a lot off person's... Thanks
  • #398
  • Jun 17, 2021 2:19pm Jun 17, 2021 2:19pm
They don't all work out.

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Further to my reply to SlownSteadyy above, this was an example of me also trying to get in at a better price on a short while the sub-window MAs were still rising. I knew I risked a reversal but decided to take the chance.
  • #399
  • Jun 17, 2021 3:00pm Jun 17, 2021 3:00pm
Quoting LauraT
They don't all work out. {image} Further to my reply to SlownSteadyy above, this was an example of me also trying to get in at a better price on a short while the sub-window MAs were still rising. I knew I risked a reversal but decided to take the chance.

Laura, that seems like an awfully tight stop - did you pull the trigger manually?
  • #400
  • Jun 17, 2021 3:59pm Jun 17, 2021 3:59pm
Quoting shotshell
{quote} Laura, that seems like an awfully tight stop - did you pull the trigger manually?
I did close manually. Most of my trades are closed this way.

I was proved wrong when the MA went above -50.
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