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Daylight Trading Strategy

  • #1,021
  • Jul 23, 2021 2:31pm Jul 23, 2021 2:31pm
Quoting j4yman
Feeling a little bad the last 2 days. Seems like no matter what I've traded it's gone wrong. I'm just glad I'm on a demo account Not sure If I'm trading wrong? Has anybody had similar experiences? Have a good weekend everyone. Joel
I am feeling your pain today boss. Keep trying
  • #1,022
  • Jul 24, 2021 4:49pm Jul 24, 2021 4:49pm
Does anybody know of an easy way to back test Daylight on MT4? Is it just a case of going back through manually or is there an automatic way to do it?
  • #1,023
  • Jul 24, 2021 11:36pm Jul 24, 2021 11:36pm
Quoting j4yman
...Not sure If I'm trading wrong?...
You are not alone there buddy, I had a red week, started great then the wheels fell off, gave back all of July's gains. Great system but the trader needs work. New plan in place for the new week.

I back test and review the weeks trades with FXBlue forex trading simulator, it works well for me.
  • #1,024
  • Jul 25, 2021 3:27pm Jul 25, 2021 3:27pm
Quoting 40PipsAlan
2 of my successes today with several other trades getting chopped up. More polish required. {image}

Greetings brother,
Please what are the values of your MAs on the chat? SMA, EMA or ???
Thank you
  • #1,025
  • Edited 3:57pm Jul 25, 2021 3:34pm | Edited 3:57pm
Quoting oceanic
{quote} Greetings brother, Please what are the values of your MAs on the chat? SMA, EMA or ??? Thank you
Yo Boss.
89 SMA and 200 SMA to give me a trend bias on the H1 before I check the M5. Price in between the MA is ranging and u need to look elsewhere . Seems to help me a bit.
  • #1,026
  • Jul 26, 2021 1:37am Jul 26, 2021 1:37am
I spent a few weekends reading all 3 of her topics. Once again my sincere thanks to LauraT for giving me a different, more progressive way of thinking about my trading style. I went short with UCHF. SL tight above the daily open. Where am I going wrong? Thanks.
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  • #1,027
  • Jul 26, 2021 1:52am Jul 26, 2021 1:52am
Quoting mistdraw28
I spent a few weekends reading all 3 of her topics. Once again my sincere thanks to LauraT for giving me a different, more progressive way of thinking about my trading style. I went short with UCHF. SL tight above the daily open. Where am I going wrong? Thanks. {image}
Did you enter on the most recent bar on your chart?

I think your SL is a little too tight for my liking. It doesn't leave a lot of wiggle room.

I'd also be wary of the fact that the opening bar visited the current lows and rejected that area. There will be trapped traders there and price might not want to revisit it too soon.
  • #1,028
  • Jul 26, 2021 1:54am Jul 26, 2021 1:54am
Quoting j4yman
Does anybody know of an easy way to back test Daylight on MT4? Is it just a case of going back through manually or is there an automatic way to do it?
You can use something like FXBlue Simulator to cycle through many days of data in a short time. Just load up your template and begin taking trades.
  • #1,029
  • Jul 26, 2021 2:05am Jul 26, 2021 2:05am
Quoting LauraT
{quote} You can use something like FXBlue Simulator to cycle through many days of data in a short time. Just load up your template and begin taking trades.
Theres this one that goes in the Experts folder. Seems to work fine if you only want one TF displayed.
Attached File(s)
File Type: ex4 LFH_Trading_Simulator_3.ex4   30 KB | 310 downloads
  • #1,030
  • Jul 26, 2021 3:04am Jul 26, 2021 3:04am
Anyone else selling AUD?
  • #1,031
  • Jul 26, 2021 4:35am Jul 26, 2021 4:35am
Quoting 40PipsAlan
Anyone else selling AUD?
I would not sell AudUsd when the loonie is falling
the cautious seldom err....C
  • #1,032
  • Jul 26, 2021 5:07am Jul 26, 2021 5:07am
Quoting LauraT
{quote} Did you enter on the most recent bar on your chart? I think your SL is a little too tight for my liking. It doesn't leave a lot of wiggle room. I'd also be wary of the fact that the opening bar visited the current lows and rejected that area. There will be trapped traders there and price might not want to revisit it too soon.
I entered because there was 1 candlestick that closed below the MA & channel slope + wide light.
I manually exited with my phone when I opened it to H4 and saw strong support below because I had to go out (Do you think this is necessary?) I should only open 1 tf as H1 and don't need it. must open H4,... to check exit settings.
Thanks for the response LauraT
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  • #1,033
  • Jul 26, 2021 5:17am Jul 26, 2021 5:17am
GBPUSD - Zero Pips Drawdown,entry off a wick! The ultimate forex skill!
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  • #1,034
  • Jul 26, 2021 7:45am Jul 26, 2021 7:45am
5 minute Bear signal on EUR/USD.
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  • #1,035
  • Jul 26, 2021 8:53am Jul 26, 2021 8:53am
Well, the sell signal result was not exactly what I expected - covered at a loss. Better luck next time , as they say!
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  • #1,036
  • Jul 26, 2021 9:03am Jul 26, 2021 9:03am
Quoting shotshell
Well, the sell signal result was not exactly what I expected - covered at a loss. Better luck next time , as they say! {image}
All looks good with hindsight trading. M5 Trend is up and bouncing off the MA's. Not so easy in the moment. I have plenty of the same trades as you boss. One day we will see the light.
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  • #1,037
  • Edited 9:42am Jul 26, 2021 9:16am | Edited 9:42am
Quoting shotshell
5 minute Bear signal on EUR/USD. {image}
Don't sell EURUSD when everything says BUY,are you only looking at M1 and M5 exclusively?

DXY (USD dollar index is falling like rain) EUR also look at news this morning
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  • #1,038
  • Jul 26, 2021 9:19am Jul 26, 2021 9:19am
Quoting 40PipsAlan
{quote} All looks good with hindsight trading. M5 Trend is up and bouncing off the MA's. Not so easy in the moment. I have plenty of the same trades as you boss. One day we will see the light. {image}
Trade in the direction of H1 and H4 and you will not get screwed . If H4 is not in the same direction as H1 and using M5 as an entry then H1 would be good enough. With M15 I put more weight on H4 ..that's just me
the cautious seldom err....C
  • #1,039
  • Jul 26, 2021 9:26am Jul 26, 2021 9:26am
Quoting pips29
{quote} Trade in the direction of H1 and H4 and you will not get screwed . If H4 is not in the same direction as H1 and using M5 as an entry then H1 would be good enough. With M15 I put more weight on H4 ..that's just me
Well said pip29........somebody ''PIN'' that statement to the top of the thread Everyone should save that information....Quote of the day!
  • #1,040
  • Jul 26, 2021 9:27am Jul 26, 2021 9:27am
Quoting pips29
{quote} Trade in the direction of H1 and H4 and you will not get screwed . If H4 is not in the same direction as H1 and using M5 as an entry then H1 would be good enough. With M15 I put more weight on H4 ..that's just me
I agree..... realized this recently and its just much easier to hold you trades/ your trades hitting your TP much quicker as you're trading with the trend, i use 1hr for trend and then 5 min for the entries
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