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Daylight Trading Strategy

  • #941
  • Edited 8:31am Jul 19, 2021 8:14am | Edited 8:31am
Quoting Piphunter40
{quote} I have few questions for you. First - Thanks a lot for sharing your trades and tips here. I have to say this is really helpful. Especially 2 PM and 4 PM tip :-) My questions: Do you not wait for retracement before taking any trade? I know it worked fine in this case, but lot of times I see price goes back into the channel. Where do you usually put your stop loss? I am assuming somewhere far that it doesn't hit easily. How do you decide on your exit? Is there a reason you closed trades at that particular point or do you have fixed profit...
Hi Piphunter40.......

I trade only breakout trading....I don't trade retracement trading.
You can't see any of my trades.....where price goes back into the channel.....never.

I usually uses an EA to place my trades.....and this comes with SL of 25pips......TP of 50pips....... after placing my trades I normally adjust the trade according to +/- with the previous high/low and ATR x 2.........for the SL and then multiply it x2 for the TP.

That's particular trade reached my TP of 50pips......but sometimes I used PA to close my trades......but never allowed it's to goes back into the channel and never allow the blue and red lines to cross in the opposite direction on the Daylight.


Happy trading
Time always comes before price
  • #942
  • Jul 19, 2021 10:56am Jul 19, 2021 10:56am
Attached Image (click to enlarge)
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Faith with Action
  • #943
  • Jul 19, 2021 2:42pm Jul 19, 2021 2:42pm
Quoting fxrabbi
{quote} Hi Piphunter40....... I trade only breakout trading....I don't trade retracement trading. You can't see any of my trades.....where price goes back into the channel.....never. I usually uses an EA to place my trades.....and this comes with SL of 25pips......TP of 50pips....... after placing my trades I normally adjust the trade according to +/- with the previous high/low and ATR x 2.........for the SL and then multiply it x2 for the TP. That's particular trade reached my TP of 50pips......but sometimes I used PA to close my trades......but...
Thank you for being helpful. This is very useful.
  • #944
  • Jul 20, 2021 12:17am Jul 20, 2021 12:17am
Quoting swingtrade65
Couple of trades...several still running {image} {image}
Hi Swing trade,

Is it the ABP dashboard used in ABP trading thread or its another one. If its another one, can you please share it, I want to forward test it.
  • #945
  • Jul 20, 2021 1:48am Jul 20, 2021 1:48am
Quoting pundit78
{quote} Hi Swing trade, Is it the ABP dashboard used in ABP trading thread or its another one. If its another one, can you please share it, I want to forward test it.
This is the Daylight thread.
All you touch and all you see, is all your life will ever be.
  • #946
  • Jul 20, 2021 2:50am Jul 20, 2021 2:50am
Hi, Could you please comment on my entry?
is it good?
I get in because it got daylight and it just crossed on both windows.
if it not good, please let me know how can I improve my entry.

Thank you

*this is Gold M5
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  • #947
  • Jul 20, 2021 2:59am Jul 20, 2021 2:59am
Quoting naruponk
Hi, Could you please comment on my entry? is it good? I get in because it got daylight and it just crossed on both windows. if it not good, please let me know how can I improve my entry. Thank you *this is Gold M5 {image}
Looks fine.
  • #948
  • Jul 20, 2021 3:02am Jul 20, 2021 3:02am
Thank you Laura, I'm got more confidence
  • #949
  • Jul 20, 2021 3:40am Jul 20, 2021 3:40am
Quoting Loftboy
{quote} This is the Daylight thread.
So is it bad if a pair scanner for Daylight system is available?
  • #950
  • Jul 20, 2021 4:21am Jul 20, 2021 4:21am
My trade on EurJpy M15
hope it will hit TP
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  • #951
  • Jul 20, 2021 5:21am Jul 20, 2021 5:21am
Hi LauraT - reference post 801 about market structure (thank you for detailed analysis!). I am not very clear why that low point is so defined. if you zoom out on the chart then you see the price has been significantly lower previous to this point. What makes this particular low the market structure from which you based your analysis?
  • #952
  • Jul 20, 2021 5:31am Jul 20, 2021 5:31am
Quoting Toccata
Hi LauraT - reference post 801 about market structure (thank you for detailed analysis!). I am not very clear why that low point is so defined. if you zoom out on the chart then you see the price has been significantly lower previous to this point. What makes this particular low the market structure from which you based your analysis?
Been puzzling the same question with supply demand zones, some hold others dont. Seeing as we have been discussing AU H1 charts previously I attach an AU chart.
I am guessing we are looking for certain candle patterns that appear in these zones as an alert for a direction change. Best I read up on candle patterns.
Attached Image (click to enlarge)
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  • #953
  • Jul 20, 2021 5:46am Jul 20, 2021 5:46am
Quoting 40PipsAlan
{quote} Been puzzling the same question with supply demand zones, some hold others dont. Seeing as we have been discussing AU H1 charts previously I attach an AU chart. I am guessing we are looking for certain candle patterns that appear in these zones as an alert for a direction change. Best I read up on candle patterns. {image}
Yes, study price action and how price behaves when it reacts to a zone positively. You have to apply judgement but write down your observations and try to trade them over time. The price leaves signatures when it's about to move. I draw my zones on the h1,h4,d1 charts and trade them on the m5 chart.
  • #954
  • Jul 20, 2021 7:24am Jul 20, 2021 7:24am
Quoting pundit78
{quote} Hi Swing trade, Is it the ABP dashboard used in ABP trading thread or its another one. If its another one, can you please share it, I want to forward test it.
I don't know what the ABP dashboard is. I got everything I am using right here or the roadmap thread
Plan, Prepare, Execute, Repeat
  • #955
  • Jul 20, 2021 8:47am Jul 20, 2021 8:47am
Quoting Toccata
Hi LauraT - reference post 801 about market structure (thank you for detailed analysis!). I am not very clear why that low point is so defined. if you zoom out on the chart then you see the price has been significantly lower previous to this point. What makes this particular low the market structure from which you based your analysis?
Hi,

It was simply the most recent swing point (the last low point which price reacted to/rejected).
  • #956
  • Jul 20, 2021 9:30am Jul 20, 2021 9:30am
Quoting pundit78
{quote} So is it bad if a pair scanner for Daylight system is available?
Barrack has a thread with a scanner:

https://www.forexfactory.com/thread/...ight-dashboard
  • #957
  • Edited 11:36am Jul 20, 2021 9:35am | Edited 11:36am
Quoting 40PipsAlan
{quote} Been puzzling the same question with supply demand zones, some hold others dont. Seeing as we have been discussing AU H1 charts previously I attach an AU chart. I am guessing we are looking for certain candle patterns that appear in these zones as an alert for a direction change. Best I read up on candle patterns. {image}
Take all of that crap off of your charts. It will only delay and confuse what it is you are trying to accomplish here which is to become a CONSISTENTLY profitable trader.
You have everything you need right here in front of you.
This is my routine to find, enter and manage trades. Not saying it is the best method , however it is repeatable for me which is crucial in being consistent with your methods.

Step 1 always starts with a signal on the 1 hr for me. In my mind, it is really easy to move up and down from here according to your goals ( moving up and down is the next steps I am talking about)
I use my own method for the final screen. I look back to see if it has been at least 10 bars since we closed above/below the channel. This screen keeps me out of sideways markets MOST of the time. If I am shorting, I want the close below the channel to be the first close below in at least 10 bars and vice versa for longs.
-EDIT: Notice that you don't have to RUSH in as soon as you get the signal....watch and see what is happening before you jump.
It looks like this for me
Attached Image (click to enlarge)
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Once I have the signal, I move UP to the 4hr and Daily to see what a reasonable target is.
I got a target of 119.07 from the 4hr chart.
Attached Image (click to enlarge)
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Step 2. Once I have my target, I move down to the 5 min to find an entry. This particular signal was given around the end of the NY session so I set a reminder to look at it closer to Asia open.
This was my entry off of the 5m chart about 30 mins before Asia open.
Attached Image (click to enlarge)
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-EDIT2 : Before anyone asks, I trail a stop a few pips beyond the opposite 1Hr channel as my stop since the signal was on the 1 hr. For shorts I trail above the high channel line and for longs I trail below the bottom channel and then I try my level best to just simply leave it alone and see how it works out.


Thats it.....so very simple and repeatable. You don't need anything else to make money.
Plan, Prepare, Execute, Repeat
  • #958
  • Jul 20, 2021 10:19am Jul 20, 2021 10:19am
Quoting swingtrade65
{quote} Take all of that crap off of your charts. It will only delay and confuse what it is you are trying to accomplish here which is to become a CONSISTENTLY profitable trader. You have everything you need right here in front of you. This is my routine to find, enter and manage trades. Not saying it is the best method , however it is repeatable for me which is crucial in being consistent with your methods. Step 1 always starts with a signal on the 1 hr for me. In my mind, it is really easy to move up and down from here according to your goals...
SWEET. I like the explanation. clear and concise. Especially the 10 bar holdoff.
  • #959
  • Jul 20, 2021 12:15pm Jul 20, 2021 12:15pm
XAUUSD - When the trend is up but price has retraced to an area of support and we are looking for signs that the downward movement (pullback) has ended and the bullish trend will continue.Overall trend on the trading time frame is yp:

The short-term trend on the trading time frame is down (has formed a pullback/retracement)
During the retracement, price retests a former area of price structure
Ideally, you’ll want for this pattern to form near the lows of the price structure.
Price may retest this area ''multiple times'' allowing for additional trading opportunities.

This is the opposite of my post scenario to #927


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  • #960
  • Jul 20, 2021 12:17pm Jul 20, 2021 12:17pm
Quoting swingtrade65
{quote} Take all of that crap off of your charts.

Very nice review. Makes sense. I'm doing something very similar with H4 signals. Then going up to weekly/daily to see if in harmony, then to lower TF's for entry.
Only difference is targets. My personality is stacking long swing trades (weeks to months). So I'll look to hold those H4 positions as long as the smoothed 5MA hasn't crossed back over the shifted 5MA. Given a good weekly trend, that may allow multiple 4H trades to be riding the trend wave.
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