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Roadmap - A Way To Read Markets

  • #2,101
  • May 27, 2020 6:43am May 27, 2020 6:43am
Quoting TheG-Lover
{quote} will probably hurt me more at my day job But being up and trading early has started off well...as attached... All based at their backbone from the roadmap methods PS: made 146 pips yesterday, roadmap was powerful in the trending moves that happened. {image}{image}
If you were with a UK spread bet company then just £5 a pip stake would see you okay for ginger beer these warm sunny days.

Seriously though. Probability could mean that a trader is more likely to get ten pips a trade than 90 pips. Therefore, when you get more accomplished you either up the stake per pip of add more contracts ?
every Saint has a past. Every Sinner has a Future
  • #2,102
  • May 27, 2020 7:06am May 27, 2020 7:06am
Quoting Epa1234
Attempting a GPBUSD long after channel cross to ADR high with yesterday's high as partial TP.
Exited for -33 pips because channel closed below SMA
  • #2,103
  • May 27, 2020 7:16am May 27, 2020 7:16am
Quoting Epa1234
Attempting a GPBUSD long after channel cross to ADR high with yesterday's high as partial TP. {image}
Be careful with rejection candles like this one. It suggested price did not want to go that high and that the battle with the Daily Open Line wasn't decisively won.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM5.png Size: 55 KB
  • #2,104
  • May 27, 2020 7:26am May 27, 2020 7:26am
Quoting LauraT
{quote} Be careful with rejection candles like this one. It suggested price did not want to go that high and that the battle with the Daily Open Line wasn't decisively won. {image}
Great advice thanks Laura. I'll put that into my checklist.
  • #2,105
  • May 27, 2020 7:31am May 27, 2020 7:31am
Quoting turnip15
{quote} If you were with a UK spread bet company then just £5 a pip stake would see you okay for ginger beer these warm sunny days. Seriously though. Probability could mean that a trader is more likely to get ten pips a trade than 90 pips. Therefore, when you get more accomplished you either up the stake per pip of add more contracts ?
Sure, I am perfectly comfortable with making 10 pips on a trade up to 30'ish pips on a trade. But that range is a function of what I believe the market is allowing me to take based on price action and risk/reward on my initial entry/stop/target. I get nervous about targets of 40+ pips actually hitting...

My philosophy is if you can find a methodology that meets the criteria (Avg Win/AvgLoss)*(#wins/#losses) > 1.33....
Then you work that system by "earning the right" to increase stakes per trade.

So in my Roadmap journey, I started paper trading...but I have a different take on paper trading, as I found it in the past never gave you the emotional challenge.
it's paper and the emotions of losing something isn't just there....
So I start paper trading with something I want to buy in mind, that is a bit of significant cost....not extravagant, but an item I want....so when I started with Roadmap, I wanted and was planning to buy a $600 new tool for my woodworking hobby. So I determined what would it take to rattle off 20 wins in a row (theory) from trading to buy it. (in this case $30 per trade). So when I was paper trading I was trying to place bets that would win $30 per trade, but not risk more than $20). So until my paper trading account had increased $600, would I allow myself to actually buy the item. It puts real pressure on your trades (if you have the discipline to deprive yourself). If I give up on the trading system, then I must wait 6 months before I can buy it.

One of the reasons I was attracted to forex was level of incrementation to scale up an account. In futures in US, entry stakes are $10 to $25 / tick. so increasing can be challenging. I have a separate system I use today to trade Crude oil futures. And scaling up that account has been psychologically tough.

So at this point in my road map real money journey, I am currently trading on my third increase of $/pip.
I will go to another $/pip upon continuing to score my "edge" as defined above and when I clear my next target increase (33%) in my trading account from the last increase I made on $/pip.

At least that is what works for me
  • #2,106
  • May 27, 2020 7:46am May 27, 2020 7:46am
Quoting TheG-Lover
{quote} Sure, I am perfectly comfortable with making 10 pips on a trade up to 30'ish pips on a trade. But that range is a function of what I believe the market is allowing me to take based on price action and risk/reward on my initial entry/stop/target. I get nervous about targets of 40+ pips actually hitting... My philosophy is if you can find a methodology that meets the criteria (Avg Win/AvgLoss)*(#wins/#losses) > 1.33.... Then you work that system by "earning the right" to increase stakes per trade. So in my Roadmap journey, I started paper...

"In futures in US, entry stakes are $10 to $25 / tick. so increasing can be challenging."

Take a look at Micro Futures - I am trying them out -okay so far ( I am in the UK).

https://www.cmegroup.com/trading/equ...i-futures.html

( Me) Wonder what a hair transplant costs?

T
every Saint has a past. Every Sinner has a Future
  • #2,107
  • May 27, 2020 9:01am May 27, 2020 9:01am
Into the fray -so far okay. Waited for that pause just above pink box and caught the downdraft. see the levels around it.
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every Saint has a past. Every Sinner has a Future
  • #2,108
  • May 27, 2020 10:33am May 27, 2020 10:33am
Nearly time to call it a day. One loser where price rolled over too fast against me.
Hopefully I am 'roadmapping' as per proposed method.
Not enough for hair transplant yet.
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every Saint has a past. Every Sinner has a Future
  • #2,109
  • May 27, 2020 10:41am May 27, 2020 10:41am
Quoting turnip15
Nearly time to call it a day. One loser where price rolled over too fast against me. Hopefully I am 'roadmapping' as per proposed method. Not enough for hair transplant yet. {image}
It's been a fun afternoon

Hopefully enough for a wig that looks real from a distance
  • #2,110
  • May 27, 2020 10:46am May 27, 2020 10:46am
Afore I go : someone messaged me suggesting I got in too late and that I should 'jump on the train.'
Not for me I'm afraid. I prefer price to consolidate or hesitate, I then have an indication that support or otherwise is nearby, and gives me a chance to note price structure to the left of where I am: The usual suspects; hh or hl's, S and R, levels usual TA structure come into play. I am happy to wait for such structures and/or confluence to set up before acting. So, although I could loosely be described as a scalper, I am happy to sit and wait for a trade to set up. That's why Laura's approach appeals to me with it's simplicity of displaying price action that can be assessed at a glance.
every Saint has a past. Every Sinner has a Future
  • #2,111
  • Edited 12:13pm May 27, 2020 11:29am | Edited 12:13pm
Quoting turnip15
Nearly time to call it a day. One loser where price rolled over too fast against me. Hopefully I am 'roadmapping' as per proposed method. Not enough for hair transplant yet. {image}
Not trading but noticed how price and 200 ma cannot stay apart for long -like two lovers

Back tomorrow.
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every Saint has a past. Every Sinner has a Future
  • #2,112
  • May 27, 2020 2:56pm May 27, 2020 2:56pm
Attached Image (click to enlarge)
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Just to show what's possible when you catch a runner following a fresh channel cross.

500+ points profit across 3 positions.
  • #2,113
  • May 28, 2020 12:49am May 28, 2020 12:49am
Hi Laura thankyou so much for system, i'm Very new to the forex and trying to learn from yours and others post. i download all indicators from first page so far everything looks kinda pictures you post except MTF dashboard can you please help how to fix it? attached is the pic of MTF indicator how its showing.

Attached Image
  • #2,114
  • May 28, 2020 1:16am May 28, 2020 1:16am
Try the attached set file.

Quoting Gh0stRider
Hi Laura thankyou so much for system, i'm Very new to the forex and trying to learn from yours and others post. i download all indicators from first page so far everything looks kinda pictures you post except MTF dashboard can you please help how to fix it? attached is the pic of MTF indicator how its showing. {image}
Attached File(s)
File Type: zip MTF_whitebackground.zip   < 1 KB | 251 downloads
  • #2,115
  • May 28, 2020 1:26am May 28, 2020 1:26am
Quoting Epa1234
Try the attached set file. {quote} {file}
hi Epa123,
Thanks you for your quick reply, Can you please let me know where i should put this file? i search for .set files and i found 4 in different locations?
  • #2,116
  • May 28, 2020 1:58am May 28, 2020 1:58am
Quoting Epa1234
Try the attached set file. {quote} {file}
Thanks i finally figure it out. But i appreciate it for quick reply ....
  • #2,117
  • May 28, 2020 2:03am May 28, 2020 2:03am
Quoting Gh0stRider
Can you please let me know where i should put this file? i search for .set files and i found 4 in different locations?
.set files should go in your ...../MQL4/Presets folder. Then you use the 'Load' button on the indcator settings window to load the one that you require.
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  • #2,118
  • May 28, 2020 2:07am May 28, 2020 2:07am
Quoting hanover
{quote} In your ...../MQL4/Presets folder.
thankyou
  • #2,119
  • May 28, 2020 3:36am May 28, 2020 3:36am
Hi, Please have a look, I'm puzzled,.. what am I doing wrong....?
I took a buy in DJI30 M1 and closed it manually the moment the SMA200 was passed by both EMA8s.
Although bias was strong to the upside, price went the other way right from the start.

Attached Image (click to enlarge)
Click to Enlarge Name: 2020-05-28_1024.png Size: 74 KB


Regards,
Ben
  • #2,120
  • May 28, 2020 3:50am May 28, 2020 3:50am
Quoting campco
Hi, Please have a look, I'm puzzled,.. what am I doing wrong....? I took a buy in DJI30 M1 and closed it manually the moment the SMA200 was passed by both EMA8s. Although bias was strong to the upside, price went the other way right from the start. {image} Regards, Ben
Your downward trendline was the key. You were buying into bearish momentum.
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