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

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..
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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
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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.
@james.trades yes the RSI never made it into the bullish territory.

How about long Nasdaq now?
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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?
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.
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.
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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.
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......
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
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
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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?
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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.
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
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.
Wasn't an easy day yesterday, however still managed to make a few pips

Trade on EU looking good today
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Thank You
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!
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.
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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.
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