This is another current live trade I am in.
1
Software tools for LauraT's Roadmap 167 replies
Forex Brokerage Roadmap 4 replies
Best way to read all of someone's posts? 3 replies
Simple way to read chart 11 replies
DislikedAfter a couple of weeks and 256 pages here is my first post. I would like to say thank you to Laura for using simplicity and common sense to explain her theories and strategy in a way that could make Richard Feynman pleasantly surprised. And also to every single person that contributed substantially to this thread trying to help people like me, thank you. I took the trade when I saw a good direction of the price and a retracement to the ADR that could possibly continue. At the time of the entry, 1M and 5M were green and the RSI was around 60 ...ish,...Ignored
Disliked{quote} Hi - welcome. And congratulations on the mammoth task of getting through the whole thread! In terms of your trade, there isn't a lot wrong with it. The structure was good when you entered and everything else suggested a continuation to the upside. After you entered though, the market rose and fell then created a lower high followed by a lower low and another lower high. That is micro-structure becoming bearish. If I was in the trade it would most likely have resulted in me scratching it for slightly worse than breakeven. Having said that,...Ignored
Disliked{quote} Thank you very much for your reply Laura, very much appreciate it. Discretion is a part of trading that newbies like me completely overlook, but I think that can only come with time and experience for being a trader. I am happy that I followed the rules in the trade discussed but I also think now looking back and after your advice that it would have been better to cut my losses short and look for a better trade. Here is the outcome of yesterday's Eur/Jpy trade I closed half of position on that big spike down and as you can see and I closed...Ignored
DislikedMy first trade of the day, another loss. RSI 38 and the 5,15,30 TF all red at entry time. SL just above the DAILY high. Looking at the trade I think it was a bad entry because the trendline wasn't broken. Also I didn't consider the daily low line anymore because it was already broken twice before the entry. I don't know it this is a good approach I am looking forward to your advice. {image} I apologize in advance if I am spamming the thread I am just looking for help, so please let me know if I am posting too many charts. Thank you.Ignored
Disliked{quote} Hi, A couple of subtle elements come to mind with this trade. The first is that the price action was such that it was likely to break the 200 to the upside again. If we look at the deep drop overnight, it was followed by a retracement of almost 100%. The channel went from above the SMA to below to above again. Generally speaking, this means volatility will continue to be wide. If you think about the overall structure, it was quite likely that the market would want to make a lower high following your entry. The increased range of price made...Ignored
Disliked{quote} Thanks for your time Laura, means a lot to me, I will try to post just a couple of trades per day that I take for your consideration or for the thread participants to review and wait for a reply before posting anymore. I will definitely take on board and implement to the best of my ability the points you made regarding the structure contraction and the SMA being overall flat. Here is another couple of trades that I took today. One loss, one win. RSI 59 and 15, 30 dashboard green at the time of entry. SL just below the Daily HIGH. {image}...Ignored
DislikedNo problem, I am sure you are very busy, so I really appreciate that you are taking the time to reply to me. I have read your journal many times ( thank you for making all that information available to us) but I will go over it again in more detail regarding the trendlines and momentum. Another couple of trades that I took today. Again one loss one win. RSI 33, dashboard all red at the time of entry, SL at 159.80 level. Once I saw the counter trend line being broken then price moving below the SMA and the two resistances, I decided to let the price...Ignored
Disliked{quote} Both trades look fine. The first one was just one of those trades where nothing is wrong but it doesn't work out. However, I've noticed at least a couple of trades from you where it has gone in your direction and then reversed on you. It perhaps might be prudent to think about booking some profit earlier. On your GBPJPY trade for example, taking something at 30-40 pips profit wouldn't be insignificant.Ignored
Disliked{quote} Thank you for your reply. Yes, I started taking profits more often based on spikes, trendline/structure breaks, I am using them more in addition to the usual s/r like daily levels or adr range. I have a couple of trades from today for your consideration. One loss, one break even. RSI 60 and dashboard all green at entry moment. I waited for the price to break the trendline and close above the Daily OPEN before I took the trade. I have to mention here that the ADR level wasn't there at the moment of entry, it appeared a few minutes later,...Ignored
DislikedThese are all my trades for the past week using Laura's Roadmap to the best of my abilities and understanding. All trades are taken on the 5M chart. All trades have a maximum 0.5% position per trade out of the total account and never more then 2 trades on simultaneously for a maximum of 1% of account. I avoid trading any correlated assets as much as I can. As you can see here is a small sample and the win rate is roughly a over 60% to 65% taking into consideration some very close break even. Fortunately, my first weeks results are on a plus but...Ignored
Disliked{quote}This is a more advanced type of trade based on Laura's roadmap system that I have been trying to use lately or similar setups when price is very close to the SMA and look for a break of structure in confluence with adr/daily levels. I took the trade when I saw the move above the Daily HIGH but also a break and close above the trendline ( a few candles late on the entry). Because It's not a one of the fundamental type of entries like the Channel Break and Channel Failure trades, I use trendlines or adr/daily levels to manage, take profit and...Ignored