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Attachments: Daylight Trading Strategy
Exit Attachments

Daylight Trading Strategy

fxrabbi-style, +10 scalp on m1:
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successful trading requires patience&discipline and can be boring.
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...
it makes all sense, very useful your analyses!
successful trading requires patience&discipline and can be boring.
Quoting 40PipsAlan
{quote} Nice going Swingtrade. I closed at 7 pips for the same reason. Is probably my best trade of the week.
Very nicely done. For me, that is what I am striving for, good decisions that keep me out of ugly losers.
Plan, Prepare, Execute, Repeat
Quoting birdland
fxrabbi-style, +10 scalp on m1: {image}
It's the tiny channel for me.......

Happy trading
Be Dumb and Follow Price
My best deal today. =)
All in all a good day. There is a certainty that I begin to understand what I am doing. =))
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Although this one looks even better. But only a part is closed. Some are still in the market.
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Short CJ 1H +60 pips. Entry after break of minor support, and TP at 4H support.
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Looks like many of you are making great progress and lots of pips/points. Great to see!

Here are a couple of Nasdaq trades I took this evening, for a total of around 80 points.

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First entry was ever so slightly early as I was waiting for a structural high (solid red line) to be broken. I anticipated it would be and got in just before it was. We had already broken above the -50 level so my bias was established.

Second entry was soon after I had taken profit on my first. The retracement played out pretty quickly so I jumped back in. My exit was just before another structural high (solid red line again) and seems like a pretty good exit as price is now struggling to break it.

Although I'm not posting so much lately - I am still watching the thread closely so keep posting please. I do my best to respond to any queries quickly or provide feedback where required.
One more from today. Dow this time - worth around 75 points.

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Entry was a break of the structural low (solid red line) and a cross of the -50.

The sharp-eyed among you will notice that we actually went back above -50 at some point, so why didn't I get out?

Well, because the market structure had changed, I was expecting a Lower High to follow the established Lower Low. This is what played out and I sat through some drawdown for a little while. If you look left, you will see why I exited where I did.
Quoting LauraT
Looks like many of you are making great progress and lots of pips/points. Great to see! Here are a couple of Nasdaq trades I took this evening, for a total of around 80 points. {image} First entry was ever so slightly early as I was waiting for a structural high (solid red line) to be broken. I anticipated it would be and got in just before it was. We had already broken above the -50 level so my bias was established. Second entry was soon after I had taken profit on my first. The retracement played out pretty quickly so I jumped back in. My exit...
Congrats Laura you're the forex structural engineer lol .....I can understand clean charts like yours.

I have a question,your entries are on M1 I see,which is the ultimate scalping TF I'd say....which is the highest timeframe would you refer to,on making a decision on M1 entries.Not sure if you answered this in a past message/reply.Thank you.
Quoting scsstnt
{quote} Congrats Laura you're the forex structural engineer lol .....I can understand clean charts like yours. I have a question,your entries are on M1 I see,which is the ultimate scalping TF I'd say....which is the highest timeframe would you refer to,on making a decision on M1 entries.Not sure if you answered this in a past message/reply.Thank you.
I have long and short term trades, so I reference charts from tick charts all the way up to daily or weekly (though more rarely for those longer timeframes).

But to answer your question, I find the 15m chart to be ideal for seeing just the big enough picture to assist with 1m entries. In fact, I used to exclusively trade just the 15m timeframe back when I traded mostly forex. As Swingtrade and others have suggested, different timeframes can serve different purposes but I'd say for scalpers the 15m is a good reference point.
Quoting LauraT
{quote} I have long and short term trades, so I reference charts from tick charts all the way up to daily or weekly (though more rarely for those longer timeframes). But to answer your question, I find the 15m chart to be ideal for seeing just the big enough picture to assist with 1m entries. In fact, I used to exclusively trade just the 15m timeframe back when I traded mostly forex. As Swingtrade and others have suggested, different timeframes can serve different purposes but I'd say for scalpers the 15m is a good reference point.
You're the 2nd person I know that explains the characteristic between M15 and M1.

Yes,Swingtrade did a great job also.

Thank you very much.Keep safe.
I was busy yesterday and took this trade late in the evening with London already closed..this morning price went my way and I took 19 pips
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the cautious seldom err....C
Quoting LauraT
. . . {image}
First entry was ever so slightly early as I was waiting for a structural high (solid red line) to be broken. I anticipated it would be and got in just before it was. We had already broken above the -50 level so my bias was established.
Second entry was soon after I had taken profit on my first. The retracement played out pretty quickly so I jumped back in. My exit was just before another structural high (solid red line again) and seems like a pretty good exit as price is now struggling to break it. . . . . .
Hi Laura, thanks for the input . . : )
Was that second trade based more upon market structure/flow than strict Daylight guidelines? (eg sub-window daylight)
Quoting Canterco
{quote} Hi Laura, thanks for the input . . : ) Was that second trade based more upon market structure/flow than strict Daylight guidelines? (eg sub-window daylight)
Hi,

My long bias was established due to the red line being above -50. When I got out of the first position, I expected a deeper retracement than we got. Once I noticed the trend was resuming, I got back in.
the market was not kind enough to give me more . Entry was taken after LO and I took 1/2 out for 12 pips..I left the balance for my target but got stopped out at b/e+ instead
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the cautious seldom err....C
Quoting pips29
the market was not kind enough to give me more . Entry was taken after LO and I took 1/2 out for 12 pips..I left the balance for my target but got stopped out at b/e+ instead {image}
I entered with two transactions. First, on a breakout, then on a pullback. I closed the first one with a small profit, securing a breakeven for the second one. Then he waited for a big movement. But it closed at the trailing stop. This happens all the time. I want more profit, but very often I give half back to the market. It seems that one should be content with less. =) In the meantime, it turns out that my profitable trades do not cover the losing ones. I put stop losses much closer than Laura, as I hope to provide myself with a more acceptable profit / loss ratio.
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A similar situation was here. All the time I hope for the runner, but he still does not come. =)

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But when stop-losses, they are so offensive. The price then turns in my direction. =)
This means we need to set stop losses further away. And take profit from the market on impulses and exit, and not wait for the price to run further.
It's just as if there is no inner confidence that small profits will be larger than rare but large stop losses over a long period of time.
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But in such a situation, a short stop loss saved my money.
Maybe after the stop loss, you should immediately open a trade in the other direction? And only if it turns out to be unprofitable, then leave this market due to uncertainty?
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