Hi guys, not the best of trading days today. GU and US500 were a bust, broke the rules on those, more on GU than US500 I'd say. But what's the point to show only good trades right? Learning time still. And hey lem and turnip, hope you guys are well. Might pop in to say hello to Billy as well.{image} {image} {image} {image} {image} {image}
Roadmap - A Way To Read Markets
- #2,262
- Jun 4, 2020 2:35pm Jun 4, 2020 2:35pm
- Joined Apr 2020 | Status: Daylight Roadmapper | 1,371 Posts
Hello, The picture is a demo trade. I only took it to make clear what my problem is. The trendlines should help to see if ther is bearish momentum or bullish momentum to reckon with. I hope someone can clarify how it works in a situation like this. Or should I only take trade where there is no trendlik=ne to be drawn either to the up- or downside... {image} Best regards, Ben
It's a compressed market. Best to step aside and find other opportunities. Normally, you'd look for the breakout but, because it has got so close to the apex of the triangle, it is forced to break out unconvincingly one way or another. Or, as I put it, 'fall out the side door'.
- #2,266
- Jun 5, 2020 1:38am Jun 5, 2020 1:38am
- Joined Apr 2020 | Status: Daylight Roadmapper | 1,371 Posts
Dear Laura, Thought of sharing my last trades. Have both LOSSES & WINS. EU Trades {image} GU Trades {image} Please comment for further improvements. Thanking you.
GU - nothing wrong with the losing trade. The winning trade was probably held onto too long. There were a couple of spike opportunities for a better exit. Try to use trendlines/speedlines to alert you to a trend weakening and look out for spikes in your favour as they are often good times for taking at least partial profit.
EU - channel was still above SMA so no reason to exit the channel trade at a loss. Your 75 pip winner was held a bit too long, similar to GU. Your addition was ok, but be wary of buying into bearish momentum. I'd have wanted to see signs it was ready to go up again before adding a position.
Hope this helps.
- #2,268
- Jun 5, 2020 3:31am Jun 5, 2020 3:31am
- Joined Apr 2020 | Status: Daylight Roadmapper | 1,371 Posts
Hello Laura, thanks for the strategy. I always succeed in doing good trades with it. But I have a little problem with the ADR. What is the optimal setting for this? For the D Range, W Range and M Range ?? (attached is a multi MA indicator that may fit your strategy well.) {image} {file} {file}
For ADR, only the daily range is necessary for shorter-term trading.
And thanks for the MTF SMA tool!
- #2,270
- Jun 5, 2020 4:09am Jun 5, 2020 4:09am
- Joined Apr 2020 | Status: Daylight Roadmapper | 1,371 Posts
- #2,275
- Jun 5, 2020 4:34am Jun 5, 2020 4:34am
- Joined Sep 2006 | Status: Trader | 10,702 Posts
Thats it for the UK session. Oil be off now. Look left and love lines
every Saint has a past. Every Sinner has a Future
{quote} Hi
Consistency & Patience
