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Roadmap - A Way To Read Markets

  • #1,041
  • May 1, 2020 11:39am May 1, 2020 11:39am
Quoting LauraT
{image} Showing this trade as it's one where price originally went against me but my stop placement was far enough away to not get hit. Profit target eventually reached when it hit ADR High. Had I decided in advance to 'multi-bullet' the entries, I would have added at expected support (Yesterday's High or Daily Open Line). This hopefully demonstrates what I've been saying about calculating your risk in advance and having your stop far enough away to let the trade breathe. For reference, my stop was at 1.7500 initially and later moved to 1.7530.
Hi Laura! 2 cents to your deal, will you allow me?) purple lines daily hai, where the price likes to return. Just before your entrance, a little earlier the structure of George was formed, you can search for them and enter at breaking through support if the trend goes up
the exit is broken high on April 15
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  • #1,043
  • May 1, 2020 11:56am May 1, 2020 11:56am
Quoting simnz
{quote} Ok. if you need indicators or EA (a) ticks selector based on per second. 32 ticks per second default with an option to reduce or increase the default value (a) mtf ADR band on chart and showing TF high low and ADR value of day by way of text on chart. (b) trading session hours 3 or 4 positions with start and end time. (c) Semaphore with different settings for 9 TFs. with offsets enough to enlarge band display even on 1 m chart frame Semaphore is a dynamic value changer or repainter. This is only to give an idea of top and bottoms for trader...
As far as I can tell, this has nothing to do with my thread?
  • #1,044
  • May 1, 2020 11:58am May 1, 2020 11:58am
Learning the Road on H4

Arrows are were I bought, first rectangle was a partial, second was exit, didn't want to play against the 200
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MTN
  • #1,045
  • May 1, 2020 12:12pm May 1, 2020 12:12pm
Quoting ingo3344
not everything was correct, but runs in plus {image}
Hi!the price breaking through another daily high (target) returned to its original yesterday's position (target)
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  • #1,046
  • May 1, 2020 12:21pm May 1, 2020 12:21pm
Ingo, noticed what a powerful move towards the end of the month? Pay attention, how does any 1H bar close 3-5 minutes before the end, doesn’t it remind you of anything? I think this is to hide the final intention of the price from traders
  • #1,047
  • May 1, 2020 12:29pm May 1, 2020 12:29pm
Thanks mike for the hint
  • #1,048
  • May 1, 2020 12:33pm May 1, 2020 12:33pm
Hi Laura,

This is my first post in forex factory. I am really enjoy your trading system. This is really a good system. Right now, I am only using it for scalping like 10-15 pips. I will try to learn it more and get more pips per trade.
Thank you Laura.
Have a nice weekend
  • #1,049
  • Edited 12:55pm May 1, 2020 12:45pm | Edited 12:55pm
Here is the TMA indicator, settings for 1M: 5-48-96 is for the pound yen. You can play with the settings for other couples. Entrance, when the price touches the line, but be careful, you must look at the higher timeframe first
For 15M :5,6-36-96
First look at 15 min, where the price is located, it is desirable that the entrance coincides with the touch of the daily high, low
Attached File(s)
File Type: ex4 TmaTrue-2.ex4   6 KB | 489 downloads
File Type: txt TMA TRUE v2.mq4.txt   15 KB | 522 downloads
File Type: ex4 FastTMALine.ex4   11 KB | 477 downloads
File Type: txt FastTMALine.mq4.txt   10 KB | 533 downloads
  • #1,050
  • May 1, 2020 1:23pm May 1, 2020 1:23pm
Quoting mik2012
Here is the TMA indicator, settings for 1M: 5-48-96 is for the pound yen. You can play with the settings for other couples. Entrance, when the price touches the line, but be careful, you must look at the higher timeframe first For 15M :5,6-36-96 First look at 15 min, where the price is located, it is desirable that the entrance coincides with the touch of the daily high, low {file} {file} {file} {file}
Confused here,,,,is this Laura's approach ?
Perhaps you need to start your own thread.
every Saint has a past. Every Sinner has a Future
  • #1,051
  • May 1, 2020 1:30pm May 1, 2020 1:30pm
Quoting LauraT
{quote} As far as I can tell, this has nothing to do with my thread?
Quite a few more posts need that Click of Disapproval

It takes a lot for me to IGNORE you, but you can try.
  • #1,052
  • May 1, 2020 1:39pm May 1, 2020 1:39pm
LauraT,
I just want to thank you for your detailed and concise explanation of your methods. I have always traded the Daily time frame because of work responsibilities and the fear of trading lower time frames. But while we are on stay at home orders, I thought I would give it a shot and your thread couldn't have happen at a better time. Although I'm not trading your system per se. Your methods I can completely follow with my system. It's been great fun playing around on the lower time frames and now I have more to add to my arsenal.

Thank you again!
Trade what "Is", not what "If".
  • #1,053
  • May 1, 2020 1:41pm May 1, 2020 1:41pm
Keeping on Topic

I think there is a risk of the thread becoming confusing or disjointed with anything that isn't directly related to the Roadmap.

From now on I'll actively dislike anything that discusses another method or strategy. I do this for the benefit of those reading the thread, so they don't have to wade through information that is not related.

Mik - I know you mean well, and I agree that George's methods are interesting, but it's probably better you start a new thread to discuss that. I confess to not understanding them and I'm guessing others are confused too.

Thanks for understanding, everyone
  • #1,054
  • May 1, 2020 2:03pm May 1, 2020 2:03pm
Quoting LauraT
Keeping on Topic I think there is a risk of the thread becoming confusing or disjointed with anything that isn't directly related to the Roadmap. From now on I'll actively dislike anything that discusses another method or strategy. I do this for the benefit of those reading the thread, so they don't have to wade through information that is not related. Mik - I know you mean well, and I agree that George's methods are interesting, but it's probably better you start a new thread to discuss that. I confess to not understanding them and I'm guessing...
Ок
  • #1,055
  • May 1, 2020 2:18pm May 1, 2020 2:18pm
Quoting LauraT
{image} Showing this trade as it's one where price originally went against me but my stop placement was far enough away to not get hit. Profit target eventually reached when it hit ADR High. Had I decided in advance to 'multi-bullet' the entries, I would have added at expected support (Yesterday's High or Daily Open Line). This hopefully demonstrates what I've been saying about calculating your risk in advance and having your stop far enough away to let the trade breathe. For reference, my stop was at 1.7500 initially and later moved to 1.7530.

Hi Laura, hope you doing well. First of all great work.

So question your entry was around 1.76, SL around 1.75 and Tp at 1.7680ish, isnt that a bad RR, would you actually wait till price hits SL or would you close it once you get an opposite signal or channel goes below 200 SMA or something.

Regards,

Singh
Game taught me the game. And it didnt spare me the rod while teaching
  • #1,056
  • May 1, 2020 2:31pm May 1, 2020 2:31pm
Quoting Singh1
{quote} Hi Laura, hope you doing well. First of all great work. So question your entry was around 1.76, SL around 1.75 and Tp at 1.7680ish, isnt that a bad RR, would you actually wait till price hits SL or would you close it once you get an opposite signal or channel goes below 200 SMA or something. Regards, Singh
Hi

The initial stop was an emergency stop rather than one I intended to be used. I also later moved my stop to 1.7530 as the trade progressed.

There's a lot written about RR that fails to take account of win rate. I could have a Reward:Risk Ratio of 0.5:1 and I'd still be profitable. However, over a large sample size of trades, it's actually higher than 1:1 because some trades turn into 'runners' that deliver 20+:1 ratios.

Conversely, someone could have a 3:1 RR and be unprofitable. RR shouldn't be considered in isolation.

I do not allow my stop loss to be hit in the vast majority of cases because I know I'm wrong and I exit manually with a loss.

Hope this helps.
  • #1,057
  • May 1, 2020 3:05pm May 1, 2020 3:05pm
Quoting LauraT
{quote} Ah, no. The timeframes we take readings from are 4H, Daily, Weekly (regardless of which timeframe you are trading).
Hi LauraT - just so that I completely understand your system, when opening a trade using the 8EMA cross are we only opening the trade when the TrendStrenght-RSI value (+/-50) of your chosen timeframe is in the same direction of the 4H, Daily and Weekly RSI indicator (I mostly use 5min charts to trade)?
  • #1,058
  • May 1, 2020 3:22pm May 1, 2020 3:22pm
Quoting jan.forex
{quote} Hi LauraT - just so that I completely understand your system, when opening a trade using the 8EMA cross are we only opening the trade when the TrendStrenght-RSI value (+/-50) of your chosen timeframe is in the same direction of the 4H, Daily and Weekly RSI indicator (I mostly use 5min charts to trade)?
Hi

When starting out with the strategy, I do recommend that you only take crosses that are in agreement with the TrendstrengthRSI. Some people will regard 50 as the decision point, others might prefer 55/45 or 60/40. I'd suggest experimenting and seeing what suits you.

Regardless of whether you are trading on a 5m chart or a 1H chart, the TrendstrengthRSI will give the same values as it is calculated using set values (4H,1D,1W).

It is of course possible to take counter-trend trades (I do so) but I'd only advise this route once the basics of the strategy have been mastered and you understand the extra risk this involves.

Hope this helps.
  • #1,059
  • May 1, 2020 3:26pm May 1, 2020 3:26pm
Hi Laura.
I think this is my very first post after many years of wading through information trying to separate the good from the bad, to the point where I only refer to FF now if one of my friends recommends I take a look.
A friend from Belgium recommended I take a look at a thread a couple of months ago which turned out very useful and very profitable, though a little complicated for some.
That same friend and a British Pal then recommended I check out your thread.
I was hesitant as I was very happy with what I already I had but I looked anyway.

Wow! is all I can say
The simplicity and profitability of what you are offering is so wonderful!
My existing method takes lots of concentration and if I have to trade too long, leaves me quite exhausted by the end of the day.
I entered a trade this morning using your method, then spent some time on and off with my 3 kids helping with their homeschool, hobbies and even managed a bike ride with my 6 year old, all whilst I had a trade running in the back ground, with an alert should I have to manage closing the trade.

Normally I wouldnt be able to do that whilst trading so Laura, I thank you very very much for making my trading day so much better!

All the best,
David
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  • #1,060
  • May 1, 2020 3:34pm May 1, 2020 3:34pm
Quoting LauraT
{quote} Hi Perhaps it's my failing as a teacher, but I'm struggling to understand what more you want me to say about exits? I feel like I've been pretty clear about when I look to take profit and when I look to exit for a loss. As every trade is different, I can't give you a one-size-fits-all explanation of how to exit your trades. Ultimately that has to be your decision. If there is something specific in this regard you feel I've not covered at all, or enough, please let me know the specifics and I'll do my best to provide explanation and...
You're a good teacher. You're answer already helped me. Now I know, there's not more to it then what you already outlined.
Thank you
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