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Roadmap - A Way To Read Markets

  • #241
  • Apr 21, 2020 1:10pm Apr 21, 2020 1:10pm
Quoting Ryder
{quote} It simply will not calculate the ADR. Get a center line at the daily open and that is all. My basket name is a synthetic name with a broker suffix. Have had this problem with other indicators on offline basket charts. Can usually fix it if I can get into the code. Did a search for the .mq4 file without success. Maybe look for another ADR indi. Thanks for the response.
Hi Ryder,
The ADR indicator belongs to Steve Mauro, he would have the code for it but I know it will not work on offline charts. You may be able to get the code from him. I have used the indicator for a number of years and never had a problem with it but it is only good for the current day. There used to be a historical adr indicator but it no longer works. If you have watched the indicator in action over the course of a day you will see that it moves because when the day starts you don't know which way price is going to go so if price starts to move short the upper ADR line will start shifting downwards and vice versa. It is a great indicator.

Good Luck
Rick
  • #242
  • Apr 21, 2020 1:47pm Apr 21, 2020 1:47pm
Had 3 trades today with a total of 50 pips although could have been much more.

I seem to suffer from that age old problem of closing trades too early
  • #243
  • Apr 21, 2020 1:55pm Apr 21, 2020 1:55pm
Quoting ukmartin
Had 3 trades today with a total of 50 pips although could have been much more. I seem to suffer from that age old problem of closing trades too early
Try to focus on the 50 pips instead of the things that might have been better. Of course, we all strive to be better and that's healthy - but be careful not to turn a positive into a negative, you know?

Do you understand what's making you close early? It's likely fear but fear of what? How about if you took partial profits and let the rest run, would that solve the issue perhaps?
  • #244
  • Apr 21, 2020 2:16pm Apr 21, 2020 2:16pm
hello, im new here and i just read and attempt to gain from everyone. i thank you for sharing knowledge.
  • #245
  • Apr 21, 2020 2:25pm Apr 21, 2020 2:25pm
Subscribed

Thank you, very much
MTN
  • #246
  • Apr 21, 2020 2:28pm Apr 21, 2020 2:28pm
Hi from portugal Laura,

I have three question.

Which timeframe do you use the most, or which one do you like the most and negotiate over the years using the system?

What is the biggest criterion that makes you enter an operation? is the SMA 200 line ? For example , i checked example: eurusd H1 sell below sma 200 and m1 , above sma200... i no have idea for best trade...

How many pips do you look for per operation and when do you leave the operation?

[COLOR=rgba(0, 0, 0, 0.87)]If you can answer the 3 questions thanks you[/color]
  • #247
  • Apr 21, 2020 2:35pm Apr 21, 2020 2:35pm
Quoting ukmartin
Had 3 trades today with a total of 50 pips although could have been much more. I seem to suffer from that age old problem of closing trades too early
You and i are in the same boat. Closed early only to see the trades reach where the tp would have been
  • #248
  • Apr 21, 2020 4:28pm Apr 21, 2020 4:28pm
Summary:

Started this week on demo: 2 winners, 2 losers & 4 open positions mostly from the 4H charts.

Goal for me at first is to get feeling for the setups and if that fits my trading. Even though I took some poor entries, I am quite satisfied already with how fast the trades move into our favour.

Yet I am not that much focused on money management (adjusting lot size according percentage risk etc). Allthough, to make good comparison I should start doing this, difficulty I have is to calculate lotsize easily ..... therefore patiently awaiting the money management part

Here my results:

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  • #249
  • Apr 21, 2020 5:23pm Apr 21, 2020 5:23pm
I took this trade yeserday, not knowing all of the rules, and I posted the then screenshot here. It is now up 35 pips. It was a bet on a reversal, I think it worked because the move down had run out of puff. I would be interested in reading Lauren's take.
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  • #250
  • Apr 21, 2020 5:25pm Apr 21, 2020 5:25pm
Quoting PortugalZ
Hi from portugal Laura, I have three question. Which timeframe do you use the most, or which one do you like the most and negotiate over the years using the system? What is the biggest criterion that makes you enter an operation? is the SMA 200 line ? For example , i checked example: eurusd H1 sell below sma 200 and m1 , above sma200... i no have idea for best trade... How many pips do you look for per operation and when do you leave the operation? If you can answer the 3 questions thanks you
Let me try to answer them..... As you can see from the examples and telling earlier on, 1m for indices Dow,oil,....... 5/15m for currencies... Try at least for 1 week to follow the basic instructions Laura explained clearly on the thread, we have the channel trade and the failure trade... If you don't know what to look for please show us a chart, I am happy to help when I can... And last we do not focus on a fixed tp usual, first off all try to read pa as best as possible, you will have to see how price reacts at for example a recent high low, yd high low, adr high low, daily open... Try to take what the market is willing to give obeying the rules, but don't try to be too greedy at the same time... As we al know: that often Exiting is the hardest part and only can be learned from experience, execution, execution...

There are a few people around here who are really showing understanding of the system, it's great to see people are working and willing to learn, looking forward to the next few days and I will follow the progress of you guys


Goodnight and Goodluck to all

Cheers
  • #251
  • Apr 21, 2020 5:32pm Apr 21, 2020 5:32pm
The trades that I took today, they all ended positively, though EU differs from the instructions in post 1.
I am sorry about that.
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  • #252
  • Apr 21, 2020 5:56pm Apr 21, 2020 5:56pm
Quoting Ican2020
The trades that I took today, they all ended positively, though EU differs from the instructions in post 1. I am sorry about that. {image} {image} {image} {image} {image}
i dont see any entries and exits there only charts how can we learn from it? where did you enter? its just easy to post pics thou.
  • #253
  • Apr 22, 2020 12:28am Apr 22, 2020 12:28am
Good Morning GBPNZD getting in
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  • #254
  • Apr 22, 2020 12:31am Apr 22, 2020 12:31am
Quoting daywalker654
Good Morning GBPNZD getting in {image}
Nice find, be cautious a bit as rsi strength is around 50, for the rest a great setup, you seem to find good trades... Well done
  • #255
  • Apr 22, 2020 12:40am Apr 22, 2020 12:40am
Thank you Patje, will be careful. USDJPY on radar (with same remark)
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  • #256
  • Apr 22, 2020 12:55am Apr 22, 2020 12:55am
EURJPY shorting
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  • #257
  • Apr 22, 2020 1:16am Apr 22, 2020 1:16am
I've been short this market overnight and price has moved in my favour.

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When you are in a trade that is more than a scalp, try to use the roadmap to give you logical places to exit or take partial profits. In this case, the projected ADR Low at 9.37 is beginning to look like an opportune place to remove some of my position. Then Yesterday's Low at 6.49 will become the next logical target.

Sometimes a position you will open on a short timeframe will turn into a longer term trade. Catching these kind of runs will be the icing on the cake alongside the day to day trades. It's important not to be shaken out of a position too easily if it has legs so consider the benefits of getting into the habit of taking partial profits along the way and leaving a little to run. Also ensure you are trading small enough size compared to your trading account. More on that later.
  • #258
  • Apr 22, 2020 2:33am Apr 22, 2020 2:33am
Hi all,

Is this short on Usd/Jpy valid.

Regards
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  • #259
  • Apr 22, 2020 2:37am Apr 22, 2020 2:37am
I confirm the short entry in UJ H1 (also confirms in price action)
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  • #260
  • Apr 22, 2020 2:40am Apr 22, 2020 2:40am
Quoting whitesta
Hi all, Is this short on Usd/Jpy valid. Regards {image}
Absolutely
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