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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

Quoting johnsmith2nd
2nd time unlucky... entered long as price dipped below channel. retraced and closed position for another loss. Quite possibly RSI was not greater than 65, so maybe need stronger RSI. {image}
In my opinion - for FX I think you should move to at least M5 and if you want to trade M1, then probably you need to enter very close to SMA after the channel cross. M1 can be very choppy in the currencies. Just my view.

We should wait for Laura's comments though.
Quoting karun
{quote} In my opinion - for FX I think you should move to at least M5 and if you want to trade M1, then probably you need to enter very close to SMA after the channel cross. M1 can be very choppy in the currencies. Just my view. We should wait for Laura's comments though.
I tend to agree. There are exceptions (especially the higher ADR pairs) but in general 5m or 15m charts are better for forex.

The setup itself was fine though, you've just unfortunately picked two that reversed on you.
Quoting johnsmith2nd
2nd time unlucky... entered long as price dipped below channel. retraced and closed position for another loss. Quite possibly RSI was not greater than 65, so maybe need stronger RSI. {image}
It's trading John.... Can't win them all.... Started my day with 2 consecutive losers on the Dax followed by 2 winners in the end I am in profit for the day....

Recently I got in on the channel failure.... Locked at be.... Out again at a decisive close below the channel could warn for a change in direction
Patje, do you primarily trade the same indices or pairs?
A few of my todays trades all from M5. Helping myself with daily pivot lines.

Thank you LauraT.
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Anything above the line is an uptrend, below the line is a downtrend.
Quoting ezmonyfx
for some reason I cant get sma 200 meter to work anyone help?
Ow? It's pretty straightforward, but maybe current price is too far from the SM200 which causes the sma200 to be out of your screen?
Otherwise check your settings:
Attached Image

And otherwise, if you have Teamviewer, feel free to send me your ID and the password, I'll be happy to enter your workspace and check it out.
Trading S/R with PA only. No indicators anymore!
Quoting james.trades
Patje, do you primarily trade the same indices or pairs?
As long as it moves and spreads are ok its tradeable.... Mostly I pick a few instruments for the day and stick to that... Why I don't know.... Just a habit I guess....
And some missed trades. You cant catch them all. Also need to train your eye for this.
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Anything above the line is an uptrend, below the line is a downtrend.
Here's an oil trade taken today on M1 timeframe. It's always nice to catch these runners from time to time

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Quoting Degolep
A few of my todays trades all from M5. Helping myself with daily pivot lines. Thank you LauraT. {image} {image} {image} {image} {image} {image} {image}
Are these missed trades still with the daily pivots. How do you add these daily pivots?
Quoting Meerrettich
Here's an oil trade taken today on M1 timeframe. It's always nice to catch these runners from time to time {image}
Great trade. Well done
Targets
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Quoting MikeHanson
Attached is a package containing the three indicators I created and the Roadmap template I created. Please note source code is not included in the .algo files as it depends on a library I keep a lot of reusable types and extensions in. {file}
I have added all three indicators to ctraderkit.com, where there is also a forum for help, support or feeback.
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Here's a trade that would have been a good candidate for the multi-bullet approach, had I not already entered with full size.

I would have fired my second and third bullets when the top band of the EMA touched the SMA.

However, all ended well, with price eventually heading for the previous day's low.
update on usd/cfh made decent pips. exited at the red cross

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Quick question Laura I nearly exited on a loss when price went passed the 200SMA and was outside the channel. Should I have exited at that point or held on like I did as the channel had not completely crossed.
Quoting optitrader
update on usd/cfh made decent pips. exited at the red cross {image} Quick question Laura I nearly exited on a loss when price went passed the 200SMA and was outside the channel. Should I have exited at that point or held on like I did as the channel had not completely crossed.
Well done

You were right to hold on due to channel staying above SMA.
Also do you look at the direction of the 200SMA?

I.e if the channel and 200 SMA are in the same direction, do you aim for a larger target and they are opposite you aim for a small target?

By the way I am really liking your system and enjoying learning from you
Quoting optitrader
Also do you look at the direction of the 200SMA? I.e if the channel and 200 SMA are in the same direction, do you aim for a larger target and they are opposite you aim for a small target? By the way I am really liking your system and enjoying learning from you
The slope direction of SMA200 isn't so important. It turns pretty slowly.
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GA. 20 pips green now. BE+5 and let it flow to previous day low.

thanks Laura.
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