Roadmap - A Way To Read Markets | Page 21 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Software tools for LauraT's Roadmap 169 replies

Forex Brokerage Roadmap 4 replies

Best way to read all of someone's posts? 3 replies

Simple way to read chart 11 replies

Attachments: Roadmap - A Way To Read Markets
Exit Attachments

Roadmap - A Way To Read Markets

  • #401
  • Apr 23, 2020 5:01am Apr 23, 2020 5:01am
M5 trade on EU. Closed out for +22 pips. Many thanks for your replies yesterday Laura have learnt my lesson about the importance of RSI now..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EU BEFORE.png Size: 106 KB
Click to Enlarge Name: EU AFTER.png Size: 99 KB
  • #402
  • Apr 23, 2020 5:07am Apr 23, 2020 5:07am
Quoting james.trades
M5 trade on EU. Closed out for +22 pips. Many thanks for your replies yesterday Laura have learnt my lesson about the importance of RSI now.. {image} {image}
Nice result - well done
  • #403
  • Apr 23, 2020 5:16am Apr 23, 2020 5:16am
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM1.png Size: 45 KB


I know people find losing trades useful to see too, so here's one

Yesterday I showed some examples of winning trades with poor entries. This is an entry I was fine with but it turned out to be a loser. Just goes to show, we should not measure how well we executed a trade based on the final outcome.

With losses in general, embrace them, accept them, they happen. The quicker you can move on to finding the next opportunity the better.

That's not to say we don't learn from our trades though. I always carry out a daily review of my entries and exits after trading is done for me. It's very important to be able to look back with a clear mind once you are outside the heat of battle.
  • #404
  • Apr 23, 2020 5:17am Apr 23, 2020 5:17am
@james.trades yes the RSI never made it into the bullish territory.

How about long Nasdaq now?
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 103 KB
  • #405
  • Apr 23, 2020 5:18am Apr 23, 2020 5:18am
Quoting LauraT
{quote} Hi there - thanks for the kind words Those are valid entry points, yes. Trades like that aren't invalidated until the channel fully crosses the SMA, so your stop loss at the SMA would be a bit tight. I wouldn't advise trading EURGBP on 1m timeframe though. The ADR is far too low to make it viable. Getting out of the trade has to come down to your own judgement, based on what you want to achieve from the trade. Either exiting at a logical horizontal line or aiming for a certain number of pips or monetary gain. I will be writing about...
Hi LauraT, are you referring to the ADR = 67 on the chart? If yes what in your opinion is a good value?
  • #406
  • Apr 23, 2020 5:23am Apr 23, 2020 5:23am
Quoting jan.forex
{quote} Hi LauraT, are you referring to the ADR = 67 on the chart? If yes what in your opinion is a good value?
Hi,

Ideally you want it to be 100+ if you are going as low as 1m.
  • #407
  • Apr 23, 2020 6:18am Apr 23, 2020 6:18am
Quick scalp for 9 points on AUS200. Was a tiny bit risky this one as MA slope was upward and market was consolidating a bit.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aus200 before.png Size: 114 KB
Click to Enlarge Name: aus200 after.png Size: 113 KB
  • #408
  • Apr 23, 2020 6:24am Apr 23, 2020 6:24am
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY-sbM5.png Size: 41 KB


I've been asked about distance of price from SMA and this is an example of a trade where I'd say it's fine but you wouldn't want it too much further away. This trade was aiming for yesterday's low.
  • #409
  • Apr 23, 2020 6:28am Apr 23, 2020 6:28am
Quoting mUrfo
@james.trades yes the RSI never made it into the bullish territory. How about long Nasdaq now? {image}
It would have been a setup personally I would wait for a failure or a channel trade, the slope off the channel was a bit steep... Rsi was also dipping below 60......
  • #410
  • Apr 23, 2020 6:41am Apr 23, 2020 6:41am
Quoting LauraT
{image} I've been asked about distance of price from SMA and this is an example of a trade where I'd say it's fine but you wouldn't want it too much further away. This trade was aiming for yesterday's low.
Beautiful trade.

Love taking trades that are just drawn to their targets.
Empty your mind and let the market guide you
  • #411
  • Apr 23, 2020 6:55am Apr 23, 2020 6:55am
Quoting LauraT
{image} I've been asked about distance of price from SMA and this is an example of a trade where I'd say it's fine but you wouldn't want it too much further away. This trade was aiming for yesterday's low.
Hello, was there any reason you didn't take entry in either of the circles? Thank you for your help
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 119 KB
  • #412
  • Apr 23, 2020 6:59am Apr 23, 2020 6:59am
Guys ive already been in NZDUSD once and TP was hit close to the ADR Hi, the highest orange line. Is it acceptable to re enter on the same channel more than once?? As this looks like a valid entry point. If NO because the ADR Hi is still close, would it be valid if the ADR Hi was much higher up the chart, basically what im saying is can we re-enter after TP if there is a pull back but the signals are all still there?
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 17 KB
  • #413
  • Apr 23, 2020 6:59am Apr 23, 2020 6:59am
Quoting SidneyMagal
{quote} Hello, was there any reason you didn't take entry in either of the circles? Thank you for your help {image}
Hi

They are valid too, my focus must have been elsewhere when they happened.
  • #414
  • Apr 23, 2020 7:06am Apr 23, 2020 7:06am
Hi Laura,
Do you ride the major news events or do you close your trade prior to the event or wait until after the event to find your entries?
Thanks
Rick
  • #415
  • Apr 23, 2020 7:09am Apr 23, 2020 7:09am
Quoting rickster
Hi Laura, Do you ride the major news events or do you close your trade prior to the event or wait until after the event to find your entries? Thanks Rick
Hi Rick,

If I'm in a long-term trade I don't worry about individual pieces of red news but for my short-term trades (which the majority here seem to favour) I would either close or protect profit. It's too much of a lottery with news.
  • #416
  • Apr 23, 2020 7:12am Apr 23, 2020 7:12am
Wasn't an easy day yesterday, however still managed to make a few pips

Trade on EU looking good today
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM1.png Size: 70 KB
  • #417
  • Apr 23, 2020 7:12am Apr 23, 2020 7:12am
Thank You
  • #418
  • Apr 23, 2020 7:14am Apr 23, 2020 7:14am
Quoting SidneyMagal
Guys ive already been in NZDUSD once and TP was hit close to the ADR Hi, the highest orange line. Is it acceptable to re enter on the same channel more than once?? As this looks like a valid entry point. If NO because the ADR Hi is still close, would it be valid if the ADR Hi was much higher up the chart, basically what im saying is can we re-enter after TP if there is a pull back but the signals are all still there? {image}
yes you can if the signals are still there.... you could take partial profit ... get back in again... only thing to watch is that price isnt too far from 200 sma ... the closer the better.. means a smaller loss if it goes against you!
  • #419
  • Apr 23, 2020 7:16am Apr 23, 2020 7:16am
AJ trade from the M1 chart +13 pips. That's +40 odd for the day across 3 trades so gonna call it a day there. Thanks again Laura.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audjpy before.png Size: 115 KB
Click to Enlarge Name: AJ After.png Size: 115 KB
  • #420
  • Apr 23, 2020 7:31am Apr 23, 2020 7:31am
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM5.png Size: 35 KB


Another trade on UJ.

This time I got short because price had previously broken Yesterday's Low and then returned to it. I expected it to become turncoat resistance.

Took profit just before news.
0 traders viewing now