Roadmap - A Way To Read Markets | Page 93 | 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

  • #1,841
  • May 20, 2020 4:41am May 20, 2020 4:41am
Quoting Spu
Hi LauraT, Respect. Following diligently. Could you also post trades where you exit at a loss, or triggered stop so we can see the thought process behind them. Your posts with profitable trades and thought process trades help me with profitable trade management. I'd love the reverse, with thought process leading to eventual exit. That's where my account balance is really controlled. That's my problem now. Cheers.
Hi

My stops are almost never triggered but I can certainly post losing trades if it helps.
  • #1,842
  • May 20, 2020 4:43am May 20, 2020 4:43am
Someone asked about trading one minute Forex.
A pair I look at sometimes but my thing is Indices. See the reactions off the 200 and price structure via hh and hl's. I left some out.
But the one minute did okay today .
Attached Image (click to enlarge)
Click to Enlarge Name: POUNDandYEN.png Size: 520 KB
every Saint has a past. Every Sinner has a Future
  • #1,843
  • May 20, 2020 4:49am May 20, 2020 4:49am
GBP JPY 5 min chart

Took a short position after channel and then price had failed to break the 200 SMA. Trailed stop at 50% of profit

Attached Image (click to enlarge)
Click to Enlarge Name: cT_cs_1100207_GBPJPY_2020-05-20_12-47-23.png Size: 382 KB
  • #1,844
  • May 20, 2020 4:51am May 20, 2020 4:51am
Oil M1 again
Not my best entry. I find myself getting home from work , switching on the computer and rushing in head first!
Seems to be working for me at the moment!
A few notes on chart
Cheers
Attached Image (click to enlarge)
Click to Enlarge Name: XTIUSDM1.png Size: 80 KB
  • #1,845
  • May 20, 2020 4:54am May 20, 2020 4:54am
Quoting turnip15
{quote} Sorry to butt in but losing trades? One should know where your trade is wrong before you get in. Thus getting out is automatic if that stop is hit or you decide your original decision is wrong. In my humble opinion, seeing where someone decides they have lost a trade does not help you with your personal decision to recognise a bad trade.
I hear you. I guess though, for people just learning a methodology, they need examples of how to react when things go wrong.

Most losing trades are, as you say, boring because I knew in advance what would have to happen to prove me wrong. When it happened, I exited.

But I don't mind sharing some of those if they help someone.
  • #1,846
  • May 20, 2020 5:15am May 20, 2020 5:15am
Quoting Spu
Hi LauraT, Respect. Following diligently. Could you also post trades where you exit at a loss, or triggered stop so we can see the thought process behind them. Your posts with profitable trades and thought process trades help me with profitable trade management. I'd love the reverse, with thought process leading to eventual exit. That's where my account balance is really controlled. That's my problem now. Cheers.
Oops - I edited my post after Laura posted. I suppose in short -know where you are going to get out before you get in. I keep seeing this advice on various sites and keep forgetting who said them.

Sorry to butt in but losing trades? One should know where your trade is wrong before you get in. Thus getting out is automatic if that stop is hit or you decide your original decision is wrong. In my humble opinion, seeing where someone decides they have lost a trade does not help you with your personal decision to recognise a bad trade.
Plus your logical stop level might be lower than your pain threshold.
Hope this helps.
every Saint has a past. Every Sinner has a Future
  • #1,847
  • May 20, 2020 5:45am May 20, 2020 5:45am
Noticed that there is an SMA dashboard for tradingview in circulation. This is very useful, could someone share the code please?

thanks
  • #1,848
  • May 20, 2020 5:50am May 20, 2020 5:50am
Lost a few trades today due to stops being too tight.

Anyway, here's the latest trade I did:
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 109 KB
  • #1,849
  • May 20, 2020 5:52am May 20, 2020 5:52am
Trade on GBPAUD on real account i wait low adr as final target :-) thx Laura
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 24 KB
  • #1,850
  • May 20, 2020 6:06am May 20, 2020 6:06am
Quoting Neogenesis
Noticed that there is an SMA dashboard for tradingview in circulation. This is very useful, could someone share the code please? thanks
Should be available here:

https://www.tradingview.com/script/Y...RoadMap-Panel/
  • #1,851
  • May 20, 2020 6:16am May 20, 2020 6:16am
Finding myself waking up earlier every day now, not just Friday's to trade Roadmap-FOREX

A quick scalp I took today knowing I would not be able to actively manage (right now looking strong to go past my exit)

"Look Left"
How I assessed the price action
Attached Image (click to enlarge)
Click to Enlarge Name: audusd5.png Size: 164 KB


Then the trade on 5M chart
Attached Image (click to enlarge)
Click to Enlarge Name: audusd6.png Size: 194 KB
  • #1,852
  • May 20, 2020 6:20am May 20, 2020 6:20am
my best and worst trade today:
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 20.5.GBPAUDM5.png Size: 87 KB
Click to Enlarge Name: 20.5.EURUSDM5loss.png Size: 78 KB
trading is like dancing, don't think and just listen to the music!
  • #1,853
  • May 20, 2020 6:32am May 20, 2020 6:32am
Quoting TheG-Lover
Finding myself waking up earlier every day now, not just Friday's to trade Roadmap-FOREX A quick scalp I took today knowing I would not be able to actively manage (right now looking strong to go past my exit) "Look Left" How I assessed the price action {image} Then the trade on 5M chart {image}
have you considered using an EA to manage your trades? Especially such trades where the target isn’t too far away and you don’t mind letting it run if at possible.
  • #1,854
  • May 20, 2020 6:33am May 20, 2020 6:33am
Quoting procmail
Lost a few trades today due to stops being too tight. Anyway, here's the latest trade I did: {image}
Nice process and Nice trade !

Jealous of your minicharts on the right
  • #1,855
  • May 20, 2020 6:43am May 20, 2020 6:43am
This is likely going to be the most boring post on FF today, but someone asked me to post a losing trade so here goes:

Attached Image (click to enlarge)
Click to Enlarge Name: UK100Sb620M1.png Size: 51 KB


I had drawn the trendline some time earlier and noticed price was retracing back to it, so I waited for the retracement to finish and got long.

I exited not too long afterwards when my trendline was broken, for a loss of 2 points.

Although it's not very interesting, I guess it does show what I mean about "know in advance what the market has to do to prove you wrong" and "exit when proved wrong".

I knew in advance that a trendline break would get me out and I closed it without hesitation. No hoping that it goes back up, no hoping that the channel stays above SMA. Being able to take your losses quickly and without excuses or emotion is key in trading.

Hope this helps someone.
  • #1,856
  • May 20, 2020 6:49am May 20, 2020 6:49am
Cor lumme -off we go
Attached Image (click to enlarge)
Click to Enlarge Name: NasPMstart1448.png Size: 443 KB
every Saint has a past. Every Sinner has a Future
  • #1,857
  • May 20, 2020 7:00am May 20, 2020 7:00am
Quoting procmail
{quote} have you considered using an EA to manage your trades? Especially such trades where the target isn’t too far away and you don’t mind letting it run if at possible.
the more confidence I have that I can work the roadmap methodology correctly...and do analysis of my scalps(could I have gotten more doing what I would do if sitting at the screen)..and if that points me to an EA....I will have to explore !!

right now I am comfortable with the cashflow of just scalping.
So not rushing to overcomplicate my simple mind
Especially since I am a newbie on the techno platform capabilities, etc...
Have always just managed trades myself.

Thanks for the suggestion, good to be stretched...
  • #1,858
  • May 20, 2020 7:04am May 20, 2020 7:04am
Quoting turnip15
Cor lumme -off we go {image}
Cor lumme -off somewhere in a hurry
Luara has a gem here with 'Road map.'
Attached Image (click to enlarge)
Click to Enlarge Name: NDXpm1502B.png Size: 465 KB
every Saint has a past. Every Sinner has a Future
  • #1,859
  • May 20, 2020 7:09am May 20, 2020 7:09am
Quoting LauraT
This is likely going to be the most boring post on FF today, but someone asked me to post a losing trade so here goes: {image} I had drawn the trendline some time earlier and noticed price was retracing back to it, so I waited for the retracement to finish and got long. I exited not too long afterwards when my trendline was broken, for a loss of 2 points. Although it's not very interesting, I guess it does show what I mean about "know in advance what the market has to do to prove you wrong" and "exit when proved wrong". I knew in advance that...
The hard part and it can only be learnt at the coal face with a live trade. Because that is when you discover your self.
( Somebody told me that - too profound for me to think it up)
every Saint has a past. Every Sinner has a Future
  • #1,860
  • May 20, 2020 7:15am May 20, 2020 7:15am
Quoting LauraT
This is likely going to be the most boring post on FF today, but someone asked me to post a losing trade so here goes: {image} I had drawn the trendline some time earlier and noticed price was retracing back to it, so I waited for the retracement to finish and got long. I exited not too long afterwards when my trendline was broken, for a loss of 2 points. Although it's not very interesting, I guess it does show what I mean about "know in advance what the market has to do to prove you wrong" and "exit when proved wrong". I knew in advance that a...
Would there ever be a time when you would just adjust your Trendline using that new low, considering that the RSI is still almost 70, and all the important SMA's on the dashboard are all still green?
2 traders viewing now