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Roadmap - A Way To Read Markets

  • #21
  • Apr 18, 2020 9:42am Apr 18, 2020 9:42am
Quoting Loftboy
You Madam, are a breath of fresh air. Please ban anyone who asks for the inevitable EA.
Thanks for the kind words I've actually tried twice already, with patient and skilled coders, to take the elements and turn it into something at least semi-automated but I found that I couldn't replicate my performance. This would suggest human judgement plays a large part in success, which is why I want to caution people about this being something other than a quick fix.
  • #22
  • Apr 18, 2020 9:49am Apr 18, 2020 9:49am
Quoting haul
{quote} Whatup Laura, Chanced upon your thread and I personally thought the system if mastered with good judgement can lead to great profits, I am an aspiring trader and tried looking at many systems throughout FF and other mediums, just glancing through your system I felt the potential for upside is massive. One question, how would you combat markets that chop, as with many systems they do find some difficulties during ranging markets, do you just avoid them totally and wait till the market is ready to move through levels? Also I would love to...
Hi there - I've sent you the Slack invitation so hopefully that should get you started

Chop is an inevitable cost of business for any strategy that relies upon at least a semblance of a trend. So, I'd be lying if I said we avoided such conditions completely. That said, there are various checks and rules in place that aim to minimise being lost in a sea of chop.
  • #23
  • Apr 18, 2020 9:50am Apr 18, 2020 9:50am
Quoting hepsibah
This should be good, Laura is the most successful trader I know. Thank you for sharing Laura.
So great to see you here, I miss you! I hope you're well.
  • #24
  • Apr 18, 2020 10:05am Apr 18, 2020 10:05am
Please post the EA now!
  • #25
  • Apr 18, 2020 10:53am Apr 18, 2020 10:53am
Quoting Anusragger
Please post the EA now!
Done - Only people with 30,000+ forum posts can see the download link
  • #26
  • Apr 18, 2020 11:02am Apr 18, 2020 11:02am
Quoting shiva
{quote} Done - Only people with 30,000+ forum posts can see the download link
Why cant I see it? I want it now.
  • #27
  • Apr 18, 2020 11:09am Apr 18, 2020 11:09am
Quoting shiva
{quote} Done - Only people with 30,000+ forum posts can see the download link
Insanityoing same ting over expecting different results..Einstein
  • #28
  • Apr 18, 2020 11:09am Apr 18, 2020 11:09am
Quoting Anusragger
{quote} Why cant I see it? I want it now.
Corona--era regulations - Download Distancing.
  • #29
  • Apr 18, 2020 11:15am Apr 18, 2020 11:15am
Quoting shiva
{quote} Corona--era regulations - Download Distancing.
Dont speak Spanish. Sorry. Cant you just lower the number of posts needed please!?
  • #30
  • Apr 18, 2020 11:42am Apr 18, 2020 11:42am
Was just discussing this GU opportunity, that presented yesterday, with members of the Slack group and thought I'd also post it here.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD-sbM15.png Size: 59 KB


Those who read the first post will hopefully recognise why the pair became of interest initially. It was a channel failure. The first rectangle gives the entry point as we wait for the channel to be fully below SMA200 and then for price to move to the upper side of the channel. The second rectangle gives a logical take profit area at the previous day's low.
  • #31
  • Apr 18, 2020 12:10pm Apr 18, 2020 12:10pm
Another from yesterday, this time oil.

Attached Image (click to enlarge)
Click to Enlarge Name: LCrudeSb520M1.png Size: 50 KB


The MTF Dashboard and Composite RSI reading told us the bias was short. So, we'd patiently wait for channel to dip below SMA and for price to go to top of channel. I find that a key element of trade management is to take advantage of spikes in your favour and take profit. Here you can see there were two such spikes which would allow us good exit points.
  • #32
  • Apr 18, 2020 12:14pm Apr 18, 2020 12:14pm
Thank you for accepting me to the group Laura looking forward to follow you...
Insanityoing same ting over expecting different results..Einstein
  • #33
  • Apr 18, 2020 12:50pm Apr 18, 2020 12:50pm
Welcome to Forex Factory Laura..

Nice clean and simple approach.

Cheers
Blue
Master your Mind,,,Master the Market
  • #34
  • Apr 18, 2020 2:02pm Apr 18, 2020 2:02pm
To all those who have asked for Slack invitations, thank you. You should all now have your links via private message

I've been pleasantly surprised by the interest shown thus far but the numbers are such that I need to temporarily halt invitations, so that those who have already joined get the best learning experience possible. It's also to ensure I am not spreading myself too thin as there is only so much training I can do alongside my trading.

For those who aren't in Slack but want to participate, I'd suggest the best way to get involved for now is via this thread. I will extend invites to regular contributors when I can.

thanks,

Laura
  • #35
  • Apr 18, 2020 2:05pm Apr 18, 2020 2:05pm
Quoting LauraT
{quote} Hi there - I've sent you the Slack invitation so hopefully that should get you started Chop is an inevitable cost of business for any strategy that relies upon at least a semblance of a trend. So, I'd be lying if I said we avoided such conditions completely. That said, there are various checks and rules in place that aim to minimise being lost in a sea of chop.

I am unable to send private messages because I don't have enough posts... can you please publish the link of your Slack group?
  • #36
  • Apr 18, 2020 2:44pm Apr 18, 2020 2:44pm
Thanks LauraT,

Breathe of fresh air and simplicity. Where is the Indicator on the chart, TrendStrength -RSI - MTF?
Those who take the time will get it. Channel failures are high probability Entries.

Roy
  • #37
  • Apr 18, 2020 3:04pm Apr 18, 2020 3:04pm
Quoting earlroy63
Thanks LauraT, Breathe of fresh air and simplicity. Where is the Indicator on the chart, TrendStrength -RSI - MTF? Those who take the time will get it. Channel failures are high probability Entries. Roy
Thanks Roy.

The RSI value is on the top right hand corner of the chart. It's a composite value of Weekly, Daily, 4Hourly readings for RSI2 and RSI9. It was originally designed for a thread involving Neilsdigest. I find it a useful tool for at-a-glance information about an instrument's current state.

Laura
  • #38
  • Apr 18, 2020 3:16pm Apr 18, 2020 3:16pm
Hi Laura and all, I am new to this industry and hope i will lern from this thread into a succesful trader
  • #39
  • Apr 18, 2020 3:38pm Apr 18, 2020 3:38pm
LauraT,
Settings may be wrong?
Attached Image (click to enlarge)
Click to Enlarge Name: LauraT_SETTINGS_WRONG.png Size: 51 KB

x-axis and y-axis values may needs adjusting?
No problem, solved it I adjusted to 1100 and 20 and its now visible on the chart, thnx

Roy
  • #40
  • Apr 18, 2020 3:55pm Apr 18, 2020 3:55pm
Quoting earlroy63
LauraT, Settings may be wrong? {image} x-axis and y-axis values may needs adjusting? No problem, solved it I adjusted to 1100 and 20 and its now visible on the chart, thnx Roy
Thanks for reminding me about the potential for people to have to alter those settings. I clean forgot to mention it. Mine is based on a large wide-screen monitor but that will likely need to be adjusted for standard screens. If anyone reading this is having trouble seeing the Composite RSI figure, do please adjust the X axis figure in settings until it appears in the right place
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