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Daylight Trading Strategy

  • #1,041
  • Edited 11:09am Jul 26, 2021 10:46am | Edited 11:09am
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
TRUTH
Actually this is the second time in the last week that this has been spelled out.

-EDIT-

This is what is being said here in picture form.

Just got this Sell Signal on the EURAUD 1 hr.....BUT there is no way I would sell right here with all of that crap in the box to the left
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Now, look at the 5 min.....IF it rallies into the middle or higher of the 1Hr channel and rolls over where I can use the next 5 min sell signal to sell about 25-30 pips higher then I am all over it if the 1hr has not changed from a sell. This sell on the 5 min gives small risk with plenty of room even if it only retests the 200.....Does this make sense to anyone or are these just voices in my head??


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Plan, Prepare, Execute, Repeat
  • #1,042
  • Jul 26, 2021 11:01am Jul 26, 2021 11:01am
Quoting swingtrade65
{quote} TRUTH Actually this is the second time in the last week that this has been spelled out.
I'm going to add your post from last week to the updated first thread post. Hopefully people will find it quicker and absorb the information.
  • #1,043
  • Jul 26, 2021 11:08am Jul 26, 2021 11:08am
just a small trade on M1
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the cautious seldom err....C
  • #1,044
  • Jul 26, 2021 11:48am Jul 26, 2021 11:48am
Quoting LauraT
{quote} I'm going to add your post from last week to the updated first thread post. Hopefully people will find it quicker and absorb the information.
Amazing work Laura......you got the best of the best traders in your thread,take care of yourself :-) probably the best trading system in the world (got this from carlsberg)
  • #1,045
  • Jul 26, 2021 12:44pm Jul 26, 2021 12:44pm
What does everyone think of this trade? Down right now, but early days.
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  • #1,046
  • Jul 26, 2021 12:56pm Jul 26, 2021 12:56pm
Quoting swingtrade65
{quote} TRUTH Actually this is the second time in the last week that this has been spelled out. -EDIT- This is what is being said here in picture form. Just got this Sell Signal on the EURAUD 1 hr.....BUT there is no way I would sell right here with all of that crap in the box to the left {image} Now, look at the 5 min.....IF it rallies into the middle or higher of the 1Hr channel and rolls over where I can use the next 5 min sell signal to sell about 25-30 pips higher then I am all over it if the 1hr has not changed from a sell. This sell on the...
So lets keep going with this last signal on EURAUD.....

1 HR since the signal bar......The pair has retraced into the channel like we talked about a couple of hours ago. If you had jumped in as soon as the signal bar closed you would now be about 25 pips behind and wondering why this system doesn't work for you.
Attached Image (click to enlarge)
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Meanwhile the 5 min has been in an uptrend since the 1hr signal bar......But appears to be running out of steam. IF we get a 5 min signal, the trade would have no more than about 10-12 risk to make 25+
Attached Image (click to enlarge)
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This in now way ensures a win. However, I have done what I can to find a good entry with a plan on how I see the trade playing out.
-HINT- Why was I looking for this pair to retrace back into the channel? How often does it exhibit this behavior of retracement? How far does it retrace an average?
How often do you end in profit 3-5 bars after a retracement? How much profit? Would it be more or less than if I had entered at the 1Hr bar close?
Last but not least...Why do I care about any of that?
Plan, Prepare, Execute, Repeat
  • #1,047
  • Jul 26, 2021 1:14pm Jul 26, 2021 1:14pm
Hi Swingtrade65.....later in Asian session might be much more volatile,I used to trade like this long ago with a different set of indis,always HTF to LTF and get in on smaller structure,its one of the most powerful methods,you take the lag out of indicators using price action,laura's combination is 90%+ with my framework

EURAUD - 17:00 H1 close on that much anticipated candle,price may create fake resistance and sell a bit,but the intention is to get higher then drop,but take what you can......
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  • #1,048
  • Jul 26, 2021 3:05pm Jul 26, 2021 3:05pm
Quoting swingtrade65
{quote} So lets keep going with this last signal on EURAUD..... 1 HR since the signal bar......The pair has retraced into the channel like we talked about a couple of hours ago. If you had jumped in as soon as the signal bar closed you would now be about 25 pips behind and wondering why this system doesn't work for you. {image} Meanwhile the 5 min has been in an uptrend since the 1hr signal bar......But appears to be running out of steam. IF we get a 5 min signal, the trade would have no more than about 10-12 risk to make 25+ {image} This in now...
Keep it coming Swingtrade65. This information is gold.
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  • #1,049
  • Jul 26, 2021 4:51pm Jul 26, 2021 4:51pm
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.
Thanks for the suggestion.

I just ran a simulation on 25 trades, 37.5% win rate

What is everybody else's win rate?
  • #1,050
  • Jul 26, 2021 6:59pm Jul 26, 2021 6:59pm
So here we are a couple of minutes before the Tokyo open and we are +28

Decisions will need to be made based on how they push it at the open
GOOD position to make a decision from.

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Plan, Prepare, Execute, Repeat
  • #1,051
  • Jul 26, 2021 8:40pm Jul 26, 2021 8:40pm
Quoting swingtrade65
So here we are a couple of minutes before the Tokyo open and we are +28 Decisions will need to be made based on how they push it at the open GOOD position to make a decision from. {image}
I saw something difficult. since it still hasn't cut off the 200 SMA
  • #1,052
  • Jul 27, 2021 2:22am Jul 27, 2021 2:22am
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
Perhaps we might be able ask of Barraka to put a filter in the WPR indicator so that only prints signals on the 5m if the 1h agrees? Similar with 15m and 4h. That would be awesome. Thanks.
  • #1,053
  • Jul 27, 2021 2:27am Jul 27, 2021 2:27am
GBPUSD - 40-70 pip drop --- USD is strong!
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  • #1,054
  • Jul 27, 2021 2:36am Jul 27, 2021 2:36am
Closed half.
Did I put the SL too close?
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  • #1,055
  • Jul 27, 2021 2:39am Jul 27, 2021 2:39am
Here, too, I am waiting for the continuation.
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  • #1,056
  • Jul 27, 2021 2:43am Jul 27, 2021 2:43am
And here are deals from yesterday. Half are already closed in profit. Will SL work?

Addition: Worked =)
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  • #1,057
  • Jul 27, 2021 2:44am Jul 27, 2021 2:44am
yesterday was a bit tricky for my taste.

but today a had a good start and i think already enough for me;-)

the problem was that the m5 trend was still up, BUT on the other side the high of the day was rejected.

the trigger was two red arrows (from barakka) and the breach of the -50 level.
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trading is like dancing, don't think and just listen to the music!
  • #1,058
  • Jul 27, 2021 4:16am Jul 27, 2021 4:16am
just here to cheer LauraT and all her followers :-)
  • #1,059
  • Jul 27, 2021 7:02am Jul 27, 2021 7:02am
Quoting swingtrade65
So here we are a couple of minutes before the Tokyo open and we are +28 Decisions will need to be made based on how they push it at the open GOOD position to make a decision from. {image}
This trade did not go lower and breach the 200. I grabbed about 3-4 pips. Although we did not get a real winner, we didn't get our pants scorched either because we had found a low risk entry. Now we move on to the next ones.
Plan, Prepare, Execute, Repeat
  • #1,060
  • Jul 27, 2021 7:13am Jul 27, 2021 7:13am
Quoting swingtrade65
{quote} This trade did not go lower and breach the 200. I grabbed about 3-4 pips. Although we did not get a real winner, we didn't get our pants scorched either because we had found a low risk entry. Now we move on to the next ones.
Nice going Swingtrade. I closed at 7 pips for the same reason. Is probably my best trade of the week.
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