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Roadmap - A Way To Read Markets

  • #2,481
  • Jun 18, 2020 8:48am Jun 18, 2020 8:48am
Quoting karun
Dow - Regular channel cross, good for about 220 points on average, was waiting to see if the TP2 will hit, but after a while PA was not convincing enough to stay on the trade. {image} GU - Retest of SMA(although it was an impulsive move) followed by YL, entry around the area. 1st Partial was when price stalling around the previous support, 2nd at ADR, 3rd was running with Trailing Stop of 15 and now got stopped out around the ADR. {image}
Hi Karun,

Please can you share your session indicator?

Thanks
  • #2,482
  • Jun 18, 2020 8:52am Jun 18, 2020 8:52am
Quoting jan.forex
{quote} Hi Karun, Please can you share your session indicator? Thanks
I downloaded it from here, it is called Symbol Changer Plus, you should be able to find it in the 1st post of that thread. Except for the RSI on my screen short, every thing else(Session, Currency, Spreads etc.,) was part of that indicator. Hope that helps.
https://www.forexfactory.com/showthread.php?t=939778
  • #2,483
  • Jun 18, 2020 11:23am Jun 18, 2020 11:23am
Nasdaq better this afternoon, not much to say that hasn't been said before really. Just keep repeating Laura's approach and avoid tinkering with it, which I don't, I have to say.
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every Saint has a past. Every Sinner has a Future
  • #2,484
  • Jun 19, 2020 3:32am Jun 19, 2020 3:32am
This is a trade I wish I had taken BUT didn't
Instead I am scratching points off the Nasdaq. Perhaps I should use oil for UK mornings and my beloved Nasdaq for UK afternoons?
I think my time here is done but I will lurk and pop in now and again to annoy
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every Saint has a past. Every Sinner has a Future
  • #2,485
  • Jun 19, 2020 4:16am Jun 19, 2020 4:16am
Hi Laura,

I have a question if you dnt mind. I have a question , if we were to count, how many forex trades do you take in one day?
  • #2,486
  • Jun 19, 2020 4:34am Jun 19, 2020 4:34am
Quoting Ndabezinhle
Hi Laura, I have a question if you dnt mind. I have a question , if we were to count, how many forex trades do you take in one day?
I believe Laura has answered this question here :-)
  • #2,487
  • Jun 19, 2020 7:23am Jun 19, 2020 7:23am
DOWS trades > Managed to bag +15pips earlier SHORT and then +78pips LONG TP hit, should have had TP at DH but wasn't sure it would reach. But im happy with outcome. I managed the trade and remained in watching M5 chart.
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  • #2,488
  • Jun 19, 2020 7:24am Jun 19, 2020 7:24am
Another LONG DOW trade: +65pip. entered after price broke through DH. I had set my TP at Jun17 High as a S/R point, exactly where price stalled. Used SR areas from M5 chart to set TP.
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  • #2,489
  • Jun 19, 2020 11:58am Jun 19, 2020 11:58am
I hope everyone has had a great week in the markets.
Another fantastic week leveraging the Roadmap.
I did decide to sleep in on Tuesday and not trade. Just wasn't ready to get up at 2:30 to trade.. so only 4 days at the screen
But GBP yesterday and solid day today brought the week in nicely.
Results this week:
23 trades: 17 Winners/6 Losers :: 74% Wins
Average Winner: 19.74 pips
Average Loser: 9.8 pips
Net Pips: 276.8 pips
DDRL: 5.68
Have a great weekend everybody...back at it Monday !
  • #2,490
  • Jun 19, 2020 12:12pm Jun 19, 2020 12:12pm
EJ from today, Regular channel /SMA retest on M15, took 50% off earlier on YL and closed the rest around YL again when Price has been stalling around the area for a long time now.
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Dow - Nothing fancy, regular channel cross
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  • #2,491
  • Jun 19, 2020 12:13pm Jun 19, 2020 12:13pm
Quoting sheva89
Hi, My MT4 multi-time frame dashboard is not working and not updating, is there any way to correct this? Thanks in advance
What do you mean by not working? can you post a screen shot?
  • #2,492
  • Jun 19, 2020 1:19pm Jun 19, 2020 1:19pm
Quoting karun
{quote} What do you mean by not working? can you post a screen shot?

Thanks Karun,

I think it was laggy at first, now working, for the sake of the thread, I will delete my previous post. Thank you again
  • #2,493
  • Jun 19, 2020 9:15pm Jun 19, 2020 9:15pm
A target will serve you well. You guys have to treat it as a business regardless of the trade being an A star or all star or whatever set-up that it may present. In a business, the core fundamentals has always been leaning towards "free cash flow". If you are constantly in the trade with zero withdrawals, you are just another gambler in the casino.

Withdrawals matter, and it is the target that you have to attained that matters the most. Bankers had yearly % to fill otherwise they are out of business. Same goes to every one of you here. Understand that this is a business of a lifetime, not a child's playground where you lose money and are okay with it. You've to seriously step up your money management game here if not it'll end badly for you as time goes by.
  • #2,494
  • Jun 20, 2020 4:28am Jun 20, 2020 4:28am
Quoting TheG-Lover
I hope everyone has had a great week in the markets. Another fantastic week leveraging the Roadmap. I did decide to sleep in on Tuesday and not trade. Just wasn't ready to get up at 2:30 to trade.. so only 4 days at the screen But GBP yesterday and solid day today brought the week in nicely. Results this week: 23 trades: 17 Winners/6 Losers :: 74% Wins Average Winner: 19.74 pips Average Loser: 9.8 pips Net Pips: 276.8 pips DDRL: 5.68 Have a great weekend everybody...back at it Monday !
Thanks for sharing!.

May I ask the time frames you are using?

Thanks again.
  • #2,495
  • Jun 21, 2020 4:21pm Jun 21, 2020 4:21pm
Quoting Nishith
{quote} Thanks for sharing!. May I ask the time frames you are using? Thanks again.
I execute trades using the 5 min timeframe between 03:00 and 07:00 (UTC-5). A key component of my approach leverages establishing key Support and Resistance areas. Of which I begin by looking at a 2 hour chart to establish major S/R areas for several weeks or months (depending on where the price action currently is relative to history..I generally only have to do this on Sunday's), then before each trading day, I look for Medium S/R levels in the past few days leveraging a 30 min chart. The goal here is to capture only significant turning points or strongly tested areas. Then I do the same for the upcoming trading day using the 5min chart for the last 24 hours.
I then factor those points of S/R combined with Prev Hi/Lo or ADR levels to determine Stop/Target levels, then determine the entry point provided by the Roadmap backbone to determine R/R relative to those points, and then determine to enter the trade or not.
  • #2,496
  • Jun 21, 2020 6:56pm Jun 21, 2020 6:56pm
Quoting TheG-Lover
{quote} I execute trades using the 5 min timeframe between 03:00 and 07:00 (UTC-5). A key component of my approach leverages establishing key Support and Resistance areas. Of which I begin by looking at a 2 hour chart to establish major S/R areas for several weeks or months (depending on where the price action currently is relative to history..I generally only have to do this on Sunday's), then before each trading day, I look for Medium S/R levels in the past few days leveraging a 30 min chart. The goal here is to capture only significant turning...
Thanks TheG-Lover, this is very insightful and detailed answer. It is very helpful and I highly appreciate it.
  • #2,497
  • Jun 22, 2020 5:18am Jun 22, 2020 5:18am
Nasdaq done for morning. Good run up. Laura rules ok
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every Saint has a past. Every Sinner has a Future
  • #2,498
  • Jun 22, 2020 8:58am Jun 22, 2020 8:58am
A good start to the afternoon. Bounce off the 200ma and being aware of opening line above
Anyone else posting here ?
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every Saint has a past. Every Sinner has a Future
  • #2,499
  • Jun 22, 2020 9:11am Jun 22, 2020 9:11am
Quoting emergentfeat
{quote} I believe Laura has answered this question here :-)
When I read that quote, its more a total of trades, but my interest was particularly on forex excluding indices.
  • #2,500
  • Jun 22, 2020 9:47am Jun 22, 2020 9:47am
Quoting Ndabezinhle
{quote} When I read that quote, its more a total of trades, but my interest was particularly on forex excluding indices.
Why do you want to know?
How will it make you a better trader?
every Saint has a past. Every Sinner has a Future
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