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Software tools for LauraT's Roadmap 167 replies

Forex Brokerage Roadmap 4 replies

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Simple way to read chart 11 replies

Attachments: Roadmap - A Way To Read Markets
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Roadmap - A Way To Read Markets

Thanks for the rapid response Laura
The framework you've set out is exactly what I need,particularly discipline in exits.
Sensible small targets is probably the hardest thing to do with a micro account as the old mind is trying to make 50 per cent a day from a tiny account to make it worthwhile instead of focussing on the process.
Excited to give it a few months with some proper discipline and a little less vodka
Cheers Laura,you're a diamond
I am trying to do some MT4 backtesting with a simulator called Soft4FX on the roadmap strategy. However, the ADR indicator doesn't seem to be working on the offline charts generated by this simulator. Does anyone know an ADR indicator that would work with Soft4FX simulator's offline charts?
Quoting saha007
I am trying to do some MT4 backtesting with a simulator called Soft4FX on the roadmap strategy. However, the ADR indicator doesn't seem to be working on the offline charts generated by this simulator. Does anyone know an ADR indicator that would work with Soft4FX simulator's offline charts?
The FXBlue simulator shows ADR. You could try that. It's free to use.
Quoting ianhjulberg
{quote} The FXBlue simulator shows ADR. You could try that. It's free to use.
Thank you. will check that out.
OIL trade just closed for a win
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Entered on a channel failure
Took profit at three stages - something I've been practicing...
Quoting saha007
{quote} Thank you. will check that out.
Hi ianhjulberg, I tried that simulator; ADR seems working but others do not for me. How do you get multi-timeframe RSI and MA indicators to work?
Quoting saha007
{quote} Hi ianhjulberg, I tried that simulator; ADR seems working but others do not for me. How do you get multi-timeframe RSI and MA indicators to work?
Hi,
You're right. I forgot that the RSI and the MTF do not work on the simulator.
However, the ma's should work, though sometimes it takes a certain amount of time/bars for the 200ma to start to print.
I had been using it without the MTF and RSI.
Quoting LauraT
{quote} Hi Jon - welcome. I don't tend to advise doing analysis of longer timeframes as I worry it might lead to more confusion than clarity for traders. However, that's not to say there isn't benefit in the practice of doing so. The aim of the multi-timeframe SMA information is to give traders an at-a-glance idea of whether the shorter term chart is in line with longer timeframes or not. It's a simple 'over or under' binary, so it doesn't contain context - but it's pretty efficient. Please keep in mind if you choose to go on this journey that Roadmap...
New FOREX trader here. I have started looking into this strategy as one to try. Very well laid out, and informative so far... thanks for that.
What time frame is best to trade on with this strategy?
Quoting TradeRanger
{quote} New FOREX trader here. I have started looking into this strategy as one to try. Very well laid out, and informative so far... thanks for that. What time frame is best to trade on with this strategy?
I think for forex, 5m or 15m timeframe is popular, and higher timeframes can certainly be traded with roadmap as well
For indices and oil you can go as low as 1m timeframe
But I am still a rookie so maybe someone else with more experience will have a better answer.
there is some magic in the 3 minutes chart, specially convined with the 15 minutes, I remember reading it from digger, trying it and see that is actually really easy to trade.

(I don't trade the method but I'm subscrived and observe, but I feel that this info can benefit someone so I need to share, hope it helps)
rip and tear until it's done
Quoting ianhjulberg
{quote} Hi, You're right. I forgot that the RSI and the MTF do not work on the simulator. However, the ma's should work, though sometimes it takes a certain amount of time/bars for the 200ma to start to print. I had been using it without the MTF and RSI.
Hello, I recommend you use the soft4fx forex simulator, with it you can see several time frames and if you have the charts open from 1 minute to daily it allows you to see the ADR, rsi, etc.

They do not pay me jeje
Hi again Laura
Going well so far using Hanover's dashboard and your general method.
I'm already feeling a bit of confidence working its way in.
My question is on position sizing.
I know you risk around 1% per trade.
Do you calculate this from your disaster stop as that would give you a small position size being a long way off or maybe from some different point where you'd probably exit before stop hit?
I'd like to get my sizing purely mathmatical on this small account and would appreciate your experience in this side of things
All the best Laura
Jon
Quoting Life Oriley
Hi again Laura Going well so far using Hanover's dashboard and your general method. I'm already feeling a bit of confidence working its way in. My question is on position sizing. I know you risk around 1% per trade. Do you calculate this from your disaster stop as that would give you a small position size being a long way off or maybe from some different point where you'd probably exit before stop hit? I'd like to get my sizing purely mathmatical on this small account and would appreciate your experience in this side of things All the best Laura...
Hi Jon,

This is a difficult area when using a disaster stop.

As a general principle, traders should exit when they are proven wrong. Most times this can be established in advance. I would therefore argue that the risk calculation should be based upon this pre-determined mental stop.

However, there are also various reasons why a trader might not manage to get out at the correct spot in a timely manner. What I would suggest for you, especially as you are trying to grow a small account, is to set your emergency stop at quite a high percentage (so that it's far enough away from price to only get hit in extreme circumstances). When you are entering a trade, mentally calculate your 'real' stop, add a little extra onto the figure and use that as your risk level.

It's a bit of a workaround rather than an elegant solution but I think it makes sense for your situation.

Hope that helps.
Hi Laura
Great common sense workaround
Maybe I'll get more elegant when I've made some money!
Great value answer again
Thanks so much
Jon
Quoting Karmaw
{quote} Hello, I recommend you use the soft4fx forex simulator, with it you can see several time frames and if you have the charts open from 1 minute to daily it allows you to see the ADR, rsi, etc. They do not pay me jeje
I'll check it out.
Thanks
XAUUSD M1
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Quoting pusztafie
XAUUSD M1 {image}
This is the same instrument but a different strategy than the one you show on" Day trade set up" thread - are you trading the same instrument with two strategies or are these demo trades?
every Saint has a past. Every Sinner has a Future
[quote=turnip15;14444108]{quote} Ez ugyanaz az eszköz, de más a stratégia, mint amit a „napi kereskedés beállítása” szálon mutat – ugyanazzal az eszközzel kereskedik két stratégiával, vagy ezek a demóügyletek?[/ idézet]
This was a demo trade.
Quoting pusztafie
XAUUSD M1 {image}

Similar trade on SPY 5m

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Quoting Silkysilv
{quote} Similar trade on SPY 5m {image}
Snap ! I recognise that trade
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every Saint has a past. Every Sinner has a Future
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