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Roadmap - A Way To Read Markets

  • #2,601
  • Jul 5, 2020 4:40pm Jul 5, 2020 4:40pm
Quoting ssumanaj
{quote} Hi Laura. Great thread. Thank you for sharing with us. On what u replied to the post,i thought that is a channel trade. Cant see how it's a channel failure. Kindly help me understand
Laura is busy with family issues. Please wait until her personal matters are resolved.
every Saint has a past. Every Sinner has a Future
  • #2,602
  • Jul 6, 2020 1:04am Jul 6, 2020 1:04am
can somebody trading this strategy in live account please suggest a forex broker they are trading with and making profits , as there are lot of scam brokers around and also the spread etc also matters . This will also help lot of people who want to start trading but cannot zero in on a reliable broker.
  • #2,603
  • Jul 6, 2020 5:15am Jul 6, 2020 5:15am
Quoting turnip15
{quote} Laura is busy with family issues. Please wait until her personal matters are resolved.
Thank u for responding. I hope she n her family r ok.
  • #2,604
  • Jul 6, 2020 8:33am Jul 6, 2020 8:33am
Quoting 00PIP
{quote} For these set ups, what's your trigger to enter the trade - do you enter when price first hits the 200 SMA?
I want to get in as soon as possible, because these setups can turn quickly, many times it is just one bar that would hit my entry... of course some times it blows thru the 200, it is not 100% winners.
But to say I just set my entry at 200, would not be the whole picture. When I see price has pushed away from the 200, I keep an eye for the retracement to begin developing, so I already have my stops and targets relative to price structure around the 200. If there is support/resistance very near the 200 on the retracement side, I may actually enter there...and not wait for price to hit the 200. Always, making sure that my entry relative to my stop/target gives me a minimus of 1.3 r/r.
  • #2,605
  • Jul 6, 2020 9:34am Jul 6, 2020 9:34am
I just want to congratulate you LauraT for this thread and sharing your knowledge and strategy with everyone, very valuable information.Hope all is well.
cheers
  • #2,606
  • Jul 6, 2020 10:15am Jul 6, 2020 10:15am
Nasdaq took off eventually which shows that it often pays to sit and watch for the dust to settle and a few points/lines to be scratched into the chart.
EDIT: Note: Looking LEFT to earlier session was not possible - price had leapt up from the off. So we had to wait for the dust to settle and look for consolidations ( we had one) etc.
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every Saint has a past. Every Sinner has a Future
  • #2,607
  • Jul 6, 2020 11:19am Jul 6, 2020 11:19am
One of my trades from this morning's trading.
Classic roadmap crossover failure
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  • #2,608
  • Jul 6, 2020 11:22am Jul 6, 2020 11:22am
NDX Long to ADR. I divided my position into three as i was not sure where price would stop..
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  • #2,609
  • Jul 6, 2020 9:54pm Jul 6, 2020 9:54pm
Took a quick trade last night and when I came back to check on my profits in the morning. Well there weren't any as I was just barely stopped out. After reviewing the loss I would say it was a bit more risky due to the distance from the 200SMA. Furthermore when looking left I probably should of placed the stop lower. However I was concerned about my reward to risk. I also failed to see a trend line which is shown on the second image. What would you have done different. I often find my self placing stops to tight. In the end I believe I should of just waited for a better entry and not adjusted stop to fit my reward risk.

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  • #2,610
  • Jul 7, 2020 3:46am Jul 7, 2020 3:46am
Dax. Easier today. Look at the levels and bounces. And draw in your Laura speed lines etc.
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every Saint has a past. Every Sinner has a Future
  • #2,611
  • Jul 7, 2020 4:07am Jul 7, 2020 4:07am
turnip15 : Oil chart

It seems that the showed chart is Nasdaq100 rather no?
  • #2,612
  • Jul 7, 2020 5:29am Jul 7, 2020 5:29am
Quoting brusch
turnip15 : Oil chart It seems that the showed chart is Nasdaq100 rather no?
Well spotted. I lost a few brain cells this morning

The Nasdaq was the main vehicle. I had marked up OIL then couldn't spell oil when selecting chart. Worse, I had printed off the oil chart and deleted it as I normally do for tests.
I have removed the post to avoid more embarrassment. Glad you spotted it. Thanks again. I will leave the Nasdaq off for now to avoid more confusion.
Maybe time for coffee and a bun.
every Saint has a past. Every Sinner has a Future
  • #2,613
  • Edited 7:38am Jul 7, 2020 7:25am | Edited 7:38am
DAX M1 cross over fail rsi 49, MTF red
where do you set stop lose? yesterday's low or just about MA200
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  • #2,614
  • Jul 7, 2020 8:04am Jul 7, 2020 8:04am
DAX will go up, higher low on M5, target previous daily low
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  • #2,615
  • Jul 7, 2020 8:48am Jul 7, 2020 8:48am
Anybody here use Tradestation linked to Interactive Brokers? If so can I have your opinion please?
every Saint has a past. Every Sinner has a Future
  • #2,616
  • Jul 7, 2020 12:53pm Jul 7, 2020 12:53pm
Two of today's trades...right after each other on the same pair.
Would I have loved to rode this pair all the way up,,,,, indeed.
But that is not how I have designed my trading strategy...I am happy with the results I am getting with my
modified scalping approach over the long haul thus far.
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  • #2,617
  • Jul 8, 2020 12:18am Jul 8, 2020 12:18am
Quoting TheG-Lover
Two of today's trades...right after each other on the same pair. Would I have loved to rode this pair all the way up,,,,, indeed. But that is not how I have designed my trading strategy...I am happy with the results I am getting with my modified scalping approach over the long haul thus far. {image}
your charts used to be clearer, you could see the price action well. now i can't see anything. but if you get along with it, then it fits;-)
trading is like dancing, don't think and just listen to the music!
  • #2,618
  • Jul 8, 2020 6:39am Jul 8, 2020 6:39am
Quoting birdland
{quote} your charts used to be clearer, you could see the price action well. now i can't see anything. but if you get along with it, then it fits;-)
Birdland,
Thank you for this insightful feedback !
I believe there is much truth in your observation and it puts me at risk of getting to clever for my own good, and eventually losing the success I have had over the past many weeks. You have inspired me to take some time and go back through my journal and make sure I have not drifted away from what got me to this point!
  • #2,619
  • Edited 11:24am Jul 8, 2020 8:21am | Edited 11:24am
Quoting turnip15
Anybody here use Tradestation linked to Interactive Brokers? If so can I have your opinion please?
or maybe these guys for European ( UK ) traders ?

https://finecobank.co.uk/public/pricing/

( trying to avoid sending money to USA if there is a UK or European FUTURES broker nearer to hand)

EDIT : Forget those - very bad reviews !
every Saint has a past. Every Sinner has a Future
  • #2,620
  • Jul 8, 2020 8:45am Jul 8, 2020 8:45am
Quoting ChubbyWookie
Took a quick trade last night and when I came back to check on my profits in the morning. Well there weren't any as I was just barely stopped out. After reviewing the loss I would say it was a bit more risky due to the distance from the 200SMA. Furthermore when looking left I probably should of placed the stop lower. However I was concerned about my reward to risk. I also failed to see a trend line which is shown on the second image. What would you have done different. I often find my self placing stops to tight. In the end I believe I should of...
Hey ChubbyWookie, I would suggest that maybe this trade was not great because not only is there the trendline that you pointed out, but also there is the significant resistance line at around 121.444. In my non-roadmap discretionary trading experience, price does tend to bounce off of these levels (presumably because traders are taking profit at the previous highs). Oftentimes price doesn't end of reversing at resistance, but the bounce can be enough to take out any reasonable stop. So, I would try to avoid entering near support/resistance where there's been one major rejection or multiple smaller rejections in the past.
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