Roadmap - A Way To Read Markets

Quoting ianhjulberg

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I think one issue was that I would take trades where even though a bar would close on the "right" side of the 15m channel, the 15m channel was on the opposite/wrong side of the 200sma in relation to the direction I was trading, and price would often bounce off the sma. {image} {image} Another issue was trading when volatility was low. This would cause situations where one bar would close outside of the channel and then one bar would close back inside the channel, and so on. This exercise seems to work better during high volatility. Another observation...

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Quoting Silkysilv

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{quote} Well done for your persistence and willingness to learn and grow. Its inspiring Keep up the good work

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Quoting LauraT

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{quote} Thanks for doing the analysis. Fortunately these issues are easily solved! If you're willing, I'd like you to repeat the exercise but, before doing so, please create a checklist for yourself. Include those elements you have identified and force yourself to do a quick run-through of the checklist before entry. You really aren't far away from where you need to be with these exercises now. The FOMO and over-trading can be tackled with what I previously mentioned - either 5 trades per day or, if that proves too comfortable for you, 3.

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Quoting ianhjulberg

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{quote} Yes Ma'am!

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Quoting LauraT

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{quote} Ha, sorry - I can be a little bossy By the way, you are now profitable over a sample size of 40 trades - you're doing great.

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Quoting LauraT

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{quote} When SMA is flat, it should heighten the requirement for other elements to be perfectly set up. I'm curious what those were for you.

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Quoting ianhjulberg

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I finished my second iteration of the 15m exercise... 20 trades -50% win rate -Profit factor: 2.2 Better results than last time!

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Quoting mckeep

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{quote} Thank you for clarification. I checked the RSI was printing a figure above 70, the dashboard was all green especially the TF M1-H4 and finally their was a break of structure at around 138.50 for the upside. of course considering roadmap, the channel had crossed the 200sma and i was looking for an entry near the 200sma. Hope this explains my reasoning. Thank You Keins

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Quoting mckeep

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{quote} Well done you are catching a rhythm for disciplined trading. i have to ask are the 20 trades on one pair or several pairs?

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Quoting ianhjulberg

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{quote} Thanks Keins. I trade mainly DOW, NAS, Oil, and Gold on the 1m timeframe

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Quoting LauraT

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{quote} Thanks for that - no issues with giving the SMA a free pass if everything else lines up. Also good to see you applying structure.

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Quoting mckeep

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{quote} If i got you right, then the 20 trades is an accumulation of 20 setups from the said pairs? I am definitely going the same route of 20 trade setups, as i seek to find my trading edge of course using my choice pairs. All the best

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Quoting mckeep

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{quote} If i got you right, then the 20 trades is an accumulation of 20 setups from the said pairs? I am definitely going the same route of 20 trade setups, as i seek to find my trading edge of course using my choice pairs. All the best

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Quoting ianhjulberg

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Laura, One question regarding the 15m exercise: Can we exit BEFORE a bar closes inside the 15m channel. For example, if I get a big spike in my favor, can I close in anticipation of a retrace? Or, for the sake of the exercise, should I wait until the closure inside the channel? Thanks

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Quoting LauraT

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{quote} Oh, absolutely feel free to exit according to what you feel will offer the best outcomes in the long-term. Spikes in your favour are a great example of that. You can also exit when you reach a point where you are either satisfied with the level of profit or where there is a logical potential roadblock ahead.

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Quoting LauraT

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{quote} Please feel free to let me know if I can help in any way. Regardless of skill level, splitting trades into batches of whatever number you choose (I like 20 but something else might feel better for your purposes) offers structured opportunities to review and tweak accordingly. People rarely go back and look at their trades after the event but there are benefits to doing so.

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Quoting LauraT

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{quote} Ben fatto. Ora ho bisogno che tu dedichi un po' di tempo ad analizzare attentamente ogni grafico con l'entrata e l'uscita contrassegnate. Non ho bisogno di vederli, ma voglio che tu valuti ogni operazione e annoti tutto ciò che ora sembra non ottimale col senno di poi. Controlla se sul campione sono stati ripetuti "errori" - anche in caso contrario, pubblica i tuoi pensieri sull'analisi e io elaborerò il tuo futuro.

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