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Roadmap - A Way To Read Markets

  • #2,881
  • Sep 2, 2020 9:29am Sep 2, 2020 9:29am
Pratt that I am. Posted these on the wrong thread.
Two UK afternoon trades. A gap fill and a tentative long.
The question Mark ( ?) is a long off the ADR that I was too chicken to take.
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every Saint has a past. Every Sinner has a Future
  • #2,882
  • Sep 2, 2020 11:12am Sep 2, 2020 11:12am
Right thread this time
one last short and done. Looked at some earlier possibles but unsure so waited for drop below 200.
Quiet here today
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every Saint has a past. Every Sinner has a Future
  • #2,883
  • Sep 2, 2020 11:18am Sep 2, 2020 11:18am
Quoting TheG-Lover
{quote} Indeed. I think I should also clarify that early on in my journey with roadmap, I was also moving stops to BE once at first target, etc. That was based on trying different approaches in my past that over time never sustained the edge. So I had built this sort of mindset "anything to prevent failure" was a good thing. Now I am also aware that my probability edge may change over time, and may even fall apart. So at some point you have to convince yourself that the evidence supports a certain way of trading. But be willing to change should...
Thank you for the additional info
  • #2,884
  • Sep 2, 2020 1:02pm Sep 2, 2020 1:02pm
My third month in a row of positive pips built around Laura's Roadmap.
Thanks Laura !!
August Results // first two weeks better than last two week but all weeks delivered positive net pips.
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Zero trade setups yesterday, but nice start to September with two trades this AM.
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  • #2,885
  • Sep 3, 2020 5:40am Sep 3, 2020 5:40am
Hi Laura and friends!

I'm not quite ready to contribute to this thread yet, as I am rather new to this approach.
I find myself wanting to learn more about how and why you are so inspired by Mark Douglas and his teachings.

If I were to start reading his content, where would you suggest I and others should start?


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Which of these would you suggest to start with?

Thank you!
  • #2,886
  • Sep 3, 2020 6:05am Sep 3, 2020 6:05am
Nasdaq UK morning 8am to 10 am (ish)
Price was more leisurely than the Dow I notice. Dow can be rather wild at times. Thus Nasdaq is my preferred vehicle thus far.
We get a lot of readers on this thread don't you think?
Anyone use Trade Station ?
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every Saint has a past. Every Sinner has a Future
  • #2,887
  • Sep 3, 2020 8:18am Sep 3, 2020 8:18am
Quoting KPTrading
Hi Laura and friends! I'm not quite ready to contribute to this thread yet, as I am rather new to this approach. I find myself wanting to learn more about how and why you are so inspired by Mark Douglas and his teachings. If I were to start reading his content, where would you suggest I and others should start? {image}{image}{image} Which of these would you suggest to start with? Thank you!
Hi there - welcome

Trading In The Zone is a solid text but any of his books or videos (plenty on Youtube) are worth consuming. You'll find he repeats examples etc in different material.

The reason I recommend him, and follow his approach, is in recognition of the fact that trading is ultimately a mental exercise. You can have a clearly defined strategy that is completely awesome but it's worthless to you if you don't have the mentality to get in and out of the markets when you should.
  • #2,888
  • Sep 3, 2020 10:09am Sep 3, 2020 10:09am
Wow -Nasdaq on steroids but it had to come after its' lengthy climb.
One loser long ( not shown) and two shorts.
My chart went off screen. Posted a smaller 20 pips chart in addition.
Still getting used to these charts -they throw me off when price moves so fast?
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every Saint has a past. Every Sinner has a Future
  • #2,889
  • Sep 3, 2020 10:15am Sep 3, 2020 10:15am
Quoting turnip15
Wow -Nasdaq on steroids but it had to come after its' lengthy climb. One loser long ( not shown) and two shorts. My chart went off screen. Posted a smaller 20 pips chart in addition. Still getting used to these charts -they throw me off when price moves so fast? {image} {image}
11880 might see a bounce or hold a bounce ? But falling knives?
every Saint has a past. Every Sinner has a Future
  • #2,890
  • Sep 3, 2020 10:20am Sep 3, 2020 10:20am
Quoting turnip15
{quote} 11880 might see a bounce or hold a bounce ? But falling knives?
tomorrow we have NFP day, so i guess it will continue falling till the numbers are out.
trading is like dancing, don't think and just listen to the music!
  • #2,891
  • Sep 3, 2020 2:21pm Sep 3, 2020 2:21pm
Hi,

I didn't post for a while now, I had too much work that needed to be done (before),and my Grandfather, unfortunately, passed away two weeks ago.
I apologize for not posting my trades, but I barely got time and clear mind to grab a few chances (mostly for the past 2-3 days) to trade a bit..

My account (demo, for now) gets 2% up, today, and I get it back 3% down the next day.. I have problem with consistency and it's killing me..
It's like I don't understand the strategy one day, and then I get it my little finger the next day.. I don't have that much problem with mentality (fear, greed etc), but I doubt in my knowledge when I screw up something, or it goes bad although I did everything by the textbook..

I read Lauras journey multiple times, but I run into a problem and then it all goes south..
This thread and the journey (thread) are both gold mines, the method for understanding the charts and the strategies Laura wrote about are awesome, don't get me wrong, it's up to me.. I can't get consistent whatever I try to do.. And tbh, it's really a big problem for me.. Not like I'm gonna give up, ofc I won't, but time and energy I lose hitting the same wall all the time is really big waste for me, the only spare time I get I work on trading, but I can't get out of the ''sand box'' for a while now..

Sorry for bitchin about it, had to talk to someone about the problem..
  • #2,892
  • Sep 3, 2020 5:15pm Sep 3, 2020 5:15pm
Quoting MrAnta997
Hi, I didn't post for a while now, I had too much work that needed to be done (before),and my Grandfather, unfortunately, passed away two weeks ago. I apologize for not posting my trades, but I barely got time and clear mind to grab a few chances (mostly for the past 2-3 days) to trade a bit.. My account (demo, for now) gets 2% up, today, and I get it back 3% down the next day.. I have problem with consistency and it's killing me.. It's like I don't understand the strategy one day, and then I get it my little finger the next day.. I don't have that...
It's all about repetition. I know you feel that you have spent a long time working on this but in reality, it's not really that long - plus, you have to factor in all the emotional upset that your recent life circumstances have brought.

You know that this method works - if the rules are followed. So you know you can trust it to perform.

The variable is yourself and the execution - and that brings us back to having repped the method over and over and over again.

Stick with it, you'll get there.
  • #2,893
  • Sep 4, 2020 2:47am Sep 4, 2020 2:47am
Quoting MrAnta997
Hi, I didn't post for a while now, I had too much work that needed to be done (before),and my Grandfather, unfortunately, passed away two weeks ago. I apologize for not posting my trades, but I barely got time and clear mind to grab a few chances (mostly for the past 2-3 days) to trade a bit.. My account (demo, for now) gets 2% up, today, and I get it back 3% down the next day.. I have problem with consistency and it's killing me.. It's like I don't understand the strategy one day, and then I get it my little finger the next day.. I don't have that...
Hi, welcome

Firstly, I'm sorry about your grandfather, my condolences. I know from my own experiences that grief can overcome our focus so don't be surprised if trading feels pointless or difficult for a while.

As lemercenaire says, consistency is really about repetition (and time). Although I've tried to set out a fairly easy to understand methodology, it still has nuances which result in judgement calls. Those decisions can only get better with experience.

I am glad you are on demo and you should continue on that basis until you find a level of consistency. Be aware though, you can be consistent and still have losing trades/losing days/maybe even a losing week (very rare but it can happen). So the first thing to do is to establish whether the trades you take don't work out due to a technical reason or simple bad luck. The best way to find out is to post a selection of your trades here for feedback. I'm happy to comment on your entries and exits if you find it helpful.
  • #2,895
  • Sep 4, 2020 3:35am Sep 4, 2020 3:35am
Quoting kodakwhite
How many people blow account with it and how much you lost guys on it? I want to coom to some stories that you lost hard earned money for your fantasies of being rich from forex
Nobody died.

TROLL ALERT :

This guy has been on other forums posting negative comment ( albeit his poor English makes understanding him very difficult).

Therefore, If you are new to this thread then follow Laura's writings and take one step at a time.
If, like me, you have been here a while, then ignore negativity from interlopers and accentuate the positive ( There's a song in there somewhere)
every Saint has a past. Every Sinner has a Future
  • #2,896
  • Sep 4, 2020 3:47am Sep 4, 2020 3:47am
MY Nasdaq UK morning chart. To the left of red vertical ( 8am UK time) line are my Laura type 'look left' lines. You can see for yourself a series of nice longs ( above 200) and then some consolidation type action or ranging.
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every Saint has a past. Every Sinner has a Future
  • #2,897
  • Sep 4, 2020 6:01am Sep 4, 2020 6:01am
After a couple weeks of sluggish market and not a lot of setups triggered...yesterday was a fun day to remind me of why I wake up at 3:45am every morning to trade !
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  • #2,898
  • Sep 4, 2020 8:02am Sep 4, 2020 8:02am
Quoting turnip15
MY Nasdaq UK morning chart. To the left of red vertical ( 8am UK time) line are my Laura type 'look left' lines. You can see for yourself a series of nice longs ( above 200) and then some consolidation type action or ranging. {image}
After the longs I got a punch in the face (twice) for being over confident ( the ranging referred to above). Then was scaredy wary ( poor English I know) and eventually took a long that kept me in the black. You can see I became nervous due to the number of lines I drew to plan and reinforce decision making. Even then I may have missed other nibbles of profit by being over nervous. And stayed an hour longer at the screen.
Note: Lots of RED news today.
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every Saint has a past. Every Sinner has a Future
  • #2,899
  • Sep 4, 2020 8:10am Sep 4, 2020 8:10am
Quoting TheG-Lover
After a couple weeks of sluggish market and not a lot of setups triggered...yesterday was a fun day to remind me of why I wake up at 3:45am every morning to trade ! {image}
That's an interesting win rate -73% - a lot of comment elsewhere refers to 60% being the average win rate for a trader. This is not a criticism but a hope that us foot soldiers (retail traders) can average above 60%
Those pips, by the way; if you were spread betting in the UK at £10 a point would be a lot of money. Your other half would expect a new dress or three

Well done.

How does that song go in 'Jungle Book'? "I wanna be like you -hoo -hoo."
every Saint has a past. Every Sinner has a Future
  • #2,900
  • Sep 4, 2020 8:55am Sep 4, 2020 8:55am
Nasdaq.
I may have been lucky here. No great skills. Price touched pink rectangle, moved up, then down through rectangle where I entered at end/close of red bar through rectangle, price backed up a few pips letting me fill for short and off we went. Frightening the pants off me at the rate of drop. Got out around the lower ADR where price fiddled about letting me out. Heart rate slowing down and busy dunking ginger biscuits and staring at the screen. That's it for this week. I am not risking that windfall from nasdaq.
Have a good weekend all and be aware RED news this afternoon.

EDIT: 14:57. Someone messaged me - asking why I did not take a long. Look left ( prior to open) and note 11840 and 11852 levels. Those kept me out of longs
( bumping head on ceiling)
I amaze myself by taking my own advice sometimes
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every Saint has a past. Every Sinner has a Future
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