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Daylight Trading Strategy

  • #641
  • Jun 28, 2021 8:39am Jun 28, 2021 8:39am
its not showing everything in my system
  • #642
  • Jun 28, 2021 8:49am Jun 28, 2021 8:49am
another one
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  • #643
  • Jun 28, 2021 9:36am Jun 28, 2021 9:36am
Quoting AlanAA
Thank you Laura for sharing your knowledge with us. I have run a backtest on EURUSD and AUDNZD from 2019 to 2021. Entry rule: enter when both W%R and the green and red moving averages agree. i.e. there is enough daylight between both pair of lines. Exit when the green line crosses the red line on the other side. Safety stop loss placed on a swing low/ swing high that is reasonable away from the entry. Timeframe uses is the 4hr. Test bank was of 10,000. Its early but by just taking mechanical trades and following the system's rules, it has returned...
Thanks for this.

I've also been seeing some nice results when testing the 4H timeframe, so it's great to see your research confirm that. For many people, trading shorter timeframes won't be an option.
  • #644
  • Jun 28, 2021 9:40am Jun 28, 2021 9:40am
Sorry guys - I started today with good intentions about posting some open trades but life got in the way.

I'll update my charts later but, in summary, I've had 2 Dax winners, 2 Oil losers, 2 Dow winners, 1 Nasdaq winner and 1 Gold loser. Currently in a Dax short and Oil short, both in profit so far.

Hopefully tomorrow I'll have less distractions and be able to continue highlighting the management of trades in progress.
  • #645
  • Jun 28, 2021 9:45am Jun 28, 2021 9:45am
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  • #646
  • Jun 28, 2021 1:49pm Jun 28, 2021 1:49pm
Hey Laura,

Just stumbled upon your thread. Nice work here. I thought I'd try and see if I have the idea. Trading the 4hr.

Sorry my chart looks a bit different. I've kind of combined your 8ema roadmap channel with the aggressive daylight Williams %R. Green and blue are the 200 and 100 and the yellow is the .7 fib bands. Just seeing what looks good for now.

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  • #647
  • Jun 28, 2021 4:40pm Jun 28, 2021 4:40pm
Quoting pedrobhs
Since we had problems with Roadmap indicators on TV Im uploading Daylight again as well with new links making the original post unusable. Ok updating previous post to anyone looking for the links to Tradingview indicators find below: https://uk.tradingview.com/script/GS...pbfx-Daylight/ https://uk.tradingview.com/script/Bf...fx-Williams-R/ Let me know if encounter any problem. Green pips to all!

Wondering you are Thinkorswim user that can help with getting this setup on that platform? I can get the channels set up but not the EMA of the Williams % on the lower indicator. Thank you for any help in advance!

  • #648
  • Jun 29, 2021 4:32am Jun 29, 2021 4:32am
Quoting Frost99
another one {image}
Hi, Frost.
Would you mind drawing a vertical line through your entries as I cannot judge the position of your oscillator without that line.
18-Momentum is an interesting setting.
Thanks for responding.
Hercs.
Hercs
  • #649
  • Jun 29, 2021 8:27am Jun 29, 2021 8:27am
Quoting Hercs
{quote} Hi, Frost. Would you mind drawing a vertical line through your entries as I cannot judge the position of your oscillator without that line. 18-Momentum is an interesting setting. Thanks for responding. Hercs.
Hi Hercs.
its very simple. for buys mometum should be above 100 lvl, and for sell it should be down 100 lvl.
the same idea of the Laura's basics rules of daylight, but for me momentum is more comfortable. i trade this setup only at 15m,and only with higher tf bias
  • #650
  • Jun 29, 2021 8:59am Jun 29, 2021 8:59am
Quoting Barraka
Gold short, midline cross on M1. Target was daily pivot point (blue line). Could have stayed longer, but was happy with the profit especially after a good day. {image} Previously I had also taken a gold short, midline cross at the PP level: {image}
Hi Barraka,
How can I get the line (Gold line) in your window one indicator
  • #651
  • Jun 29, 2021 1:48pm Jun 29, 2021 1:48pm
Been busy with things other than trading today but seeing if I can catch a little move prior to NY close.

Short Dax at red arrow. Will update when I close.

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  • #652
  • Jun 29, 2021 2:38pm Jun 29, 2021 2:38pm
Quoting LauraT
Been busy with things other than trading today but seeing if I can catch a little move prior to NY close. Short Dax at red arrow. Will update when I close. {image}
Also long Brent Oil - 5m standard version:

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  • #653
  • Jun 29, 2021 3:09pm Jun 29, 2021 3:09pm
Small loss on Dax but profit on Oil more than covered it.

I probably shouldn't have been trading Dax 'off hours' but I had a feeling it might attack yesterday's high. Clearly I was wrong

Days where you don't get a chance to trade much can be dangerous as you start to 'itch' to put on trades when you are in front of the screen. Fortunately I'm out unscathed.

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  • #654
  • Jun 30, 2021 2:53am Jun 30, 2021 2:53am
Currently short oil from the red arrow. I should have got out of bed earlier to catch the move properly, but I think there might be a bit more juice left in it yet.

Will update when I close out.

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  • #655
  • Jun 30, 2021 3:05am Jun 30, 2021 3:05am
Quoting LauraT
Currently short oil from the red arrow. I should have got out of bed earlier to catch the move properly, but I think there might be a bit more juice left in it yet. Will update when I close out. {image}
Also short Dax - 5m standard version:

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  • #656
  • Jun 30, 2021 3:16am Jun 30, 2021 3:16am
Quoting LauraT
{quote} Also short Dax - 5m standard version: {image}
Scaled out of Dax. +32 on first position and +67 on second. Still in Oil.

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  • #657
  • Jun 30, 2021 3:26am Jun 30, 2021 3:26am
Hey Laura I want to ask how you pick the trrades do you trade only 4 pairs or2 or your lokking SR zones and when the price is near them you look the daylight, or only looking the MA.......I havent see any explenation about it
  • #658
  • Jun 30, 2021 3:30am Jun 30, 2021 3:30am
Quoting Brle110
Hey Laura I want to ask how you pick the trrades do you trade only 4 pairs or2 or your lokking SR zones and when the price is near them you look the daylight, or only looking the MA.......I havent see any explenation about it
As you have just subscribed to the thread the best advice is to Read her journal thread - it's all in there.
every Saint has a past. Every Sinner has a Future
  • #659
  • Jun 30, 2021 3:33am Jun 30, 2021 3:33am
Quoting Brle110
Hey Laura I want to ask how you pick the trrades do you trade only 4 pairs or2 or your lokking SR zones and when the price is near them you look the daylight, or only looking the MA.......I havent see any explenation about it
Hi,

Good question. I'm unsure how useful posting my trades are as they are often quite straightforward and dull.

Part of the answer takes me back to Roadmap days and my Journal. I look at market structure primarily. In Daylight terms, I then look at the smoothed moving averages in the sub-window and see how they appear. In today's trades, I noticed that both market structure and the smoothed MAs were accommodative for further downside.

I tend to not trade currencies too often these days. I also tend to limit my active short-term trades to only two open at a single time. It means I can give them the required focus/management as I'm not having to look at too many markets.

Hope this helps.
  • #660
  • Jun 30, 2021 3:51am Jun 30, 2021 3:51am
Took profit on Oil. Gave a bit back as I thought it had a bigger drop in it, but wasn't to be.

In terms of why I exited, it's all down to market structure again. The formation of a higher low and then higher high suggested a turnaround (which is currently unfolding as I type).

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