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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

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This was a trade where I was targeting the previous day low. You'll notice that it didn't quite make it.

I got out after a bar closed above the channel. It shouldn't be closing above the channel if it's going to keep going down, so I could smell a rat.

Sometimes you'll find price initially goes in your favour but then turns. Don't be afraid to take a few pips if so. In the end I only took 7 pips from the move but I was happy with how I managed it.
So far so good on Oil. Have also scalped EurUsd, EurJpy, Cable and GbpJpy this morning. All targets were previous days low.

Really nice little system you have put together. Much appreciated Laura!

Will carry on trading small lots and updating when possible.
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did well on usdcad

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This was a trade where I was targeting the previous day low. You'll notice that it didn't quite make it. I got out after a bar closed above the channel. It shouldn't be closing above the channel if it's going to keep going down, so I could smell a rat. Sometimes you'll find price initially goes in your favour but then turns. Don't be afraid to take a few pips if so. In the end I only took 7 pips from the move but I was happy with how I managed it.[/quote]


Thanks. Useful tip to know.
Quoting optitrader
did well on usdcad {image}
Well done
watching for a channel failure on GJ, the CompRSI <30
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Set-up on CHFJPY M5. I've decided against it as it's at the ADR low which as shown seems to be pretty solid support and it's consolidating.
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What timeframes are people having more success with 1m, 5m or 15m? Ive mostly used th 15, had a few good trades, a couple bad ones, just tried on a 5m chart, lost the trade but I think in theory it was a better a trade, it made more sense.
Quoting SidneyMagal
What timeframes are people having more success with 1m, 5m or 15m? Ive mostly used th 15, had a few good trades, a couple bad ones, just tried on a 5m chart, lost the trade but I think in theory it was a better a trade, it made more sense.
M5 on trades where ADR is lower and M1 for those where it's higher for me personally
Anyone else in Gold long, it's ranging like a nightmare!
EU 5min Short
Tp at Yesterday Low 1.07560
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Whats get measured get improved
R2R_try2 All Time Return: -29.2%
Quoting AKCodingEye
EU 5min Short Tp at Yesterday Low 1.07560 {image}
It didn't work out. StopLoss hit.
Whats get measured get improved
R2R_try2 All Time Return: -29.2%
Quoting james.trades
Anyone else in Gold long, it's ranging like a nightmare!
I've been in for a little while. Looks like it might finally break out.
EU against the flow again
nice spike to exit
cheers
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Quoting LauraT
{quote} I've been in for a little while. Looks like it might finally break out.
Yeah agreed, taking its time. What's your target?
Quoting james.trades
{quote} Yeah agreed, taking its time. What's your target?
yesterday's high is a logical target but i'll be guided by the price action - i've taken partial profits so watching and waiting now
Closed Gold. 1729.4 up to 1735.02. Just in profit for the day now after a EURNZD trade turned north. Any input welcome on that one (charts attached)
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Exciting news folks!

The talented and selfless hanover has offered to help develop tools to make the roadmap easier to trade and/or trades easier to find.

The beta version of the first tool is here https://www.forexfactory.com/showthread.php?t=994835

Enjoy
This strategy is so robust it can be traded in many ways and for the scalpers among you, this may be of interest.
I am totally in awe of Laura and how she can achieve the massive, long held trades that she does but my temperament is different and I enjoy lots of quick in and out trades.
This morning has not been the easiest but I have still achieved 1% so far on extremely conservative (for me!) settings.
I use .001% of balance for my lotsize for FX and a bit higher for indices. And I use the globaltrademanager to TP at .02% of balance. I close the ones I don't like manually as I base it on the PA rather than a fixed SL.
The individual profit amounts may seem paltry to begin with but they add up incredibly quickly and, if you do the sums, 1%/day compounded can turn into a very nice living.
The timings are GMT+2.
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File Type: mq4 GlobalCloseManagerv2.mq4   4 KB | 329 downloads
Hi LauraT, do you sometimes hedge your trades if they go against you or do just set the sl?
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Ocheme241