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Roadmap - A Way To Read Markets

Quoting turnip15
{quote} 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."
Had 2 winners and 4 losers this morning...to keep me humble....dropping my Month to date rate down to 60%.
Thanks to Laura, I have doubled my account since the last week of May as I entered Sept. I have withdrawn my initial deposit and playing with house money now...
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A great weekend everyone and to your profits next week
Afore I go. Talking of Pink Rectangles. That set up happens again further down ( blue elipse). You find them popping up regularly thus giving you entry points and a tighter stop. But it's horses for courses and what I do is not necessarily your cup of tea.
( lend us a fiver G-Lover)
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every Saint has a past. Every Sinner has a Future
Quoting TheG-Lover
{quote} Had 2 winners and 4 losers this morning...to keep me humble....dropping my Month to date rate down to 60%. Thanks to Laura, I have doubled my account since the last week of May as I entered Sept. I have withdrawn my initial deposit and playing with house money now... {image} A great weekend everyone and to your profits next week
Looking at that in context -at £10 per pip that's £1353 for the morning. We could all live with that.
The joke about you buying your other half three dresses out of the proceeds of your gains. I will say that my other half casually asks, every evening, how trading went. Then I find we have to make trips to the garden centre - Hmmm
every Saint has a past. Every Sinner has a Future
Quoting TheG-Lover
{quote} Had 2 winners and 4 losers this morning...to keep me humble....dropping my Month to date rate down to 60%. Thanks to Laura, I have doubled my account since the last week of May as I entered Sept. I have withdrawn my initial deposit and playing with house money now... {image} A great weekend everyone and to your profits next week
That's great news about doubling your account

I appreciate the thanks but it's mainly down to you and your dedication to the cause. You've taken what I presented and made it your very own. It's wonderful when I see anyone succeed but it's especially nice when it's someone who has put in the long hours of research and screen-watching. Well done!

It will also provide encouragement to others looking on. I've received quite a few private messages from people who have discovered success using the Roadmap but it's great to see that success displayed publicly so thank you for the continued sharing.
Quoting lemercenaire
{quote} 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.
I agree with everything you said.. Problem for me is that I can't ''find'' more time for trading, so I get to trade when I'm already tired or whatever.. But if I make an excuse out of it, it will just get me lower and lower.. I have to work with what I have, and in this case, it's pretty limited time, but I hope I'll manage to repeat as much as I can and eventually get it up and running.. Watching Mark Douglas helped me a lot when it comes to turning emotions off, they're still getting in the way, but I will work on that problem..



Quoting LauraT
{quote} 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...
Hi Laura
First of all, thank you..

I wanted to switch to live in Sept/Oct, but my consistency is pretty bad, so yap, will stick to demo for a while..
I don't have a problem with a red day, but when I get one day 3/3 and the other 0/4, than the other one also 3/3 etc, that's what makes me nervous, because I do it great once, but then I make some mistakes and get back to zero, or even get into minus.. If I'm bad, I'll loose it all in a 2 weeks and I'll know I'm not for trading, if I'm good, I'll make consistent (overall) profit, but I'm somewhere in the middle and that's making me a problem, I think about trading a lot, I wanna work on my skillset, but I can't figure out why am I making stupid mistakes every other day.. I hope I'll figure it out through the time, and I can't tell how much all of you are helping me just by posting in the thread, and ofc by pointing out on mistakes I make in my trades..

Once again, thank you Laura and thank you all!!

Here are the trades I made in in the past 4 days..
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Quoting TheG-Lover
{quote} Had 2 winners and 4 losers this morning...to keep me humble....dropping my Month to date rate down to 60%. Thanks to Laura, I have doubled my account since the last week of May as I entered Sept. I have withdrawn my initial deposit and playing with house money now... {image} A great weekend everyone and to your profits next week
Getting to the point where you are trading OPM - Other Peoples' Money - is the true definition of success in this game. Nicely done.
Quoting LauraT
{quote} That's great news about doubling your account I appreciate the thanks but it's mainly down to you and your dedication to the cause. You've taken what I presented and made it your very own. It's wonderful when I see anyone succeed but it's especially nice when it's someone who has put in the long hours of research and screen-watching. Well done! It will also provide encouragement to others looking on. I've received quite a few private messages from people who have discovered success using the Roadmap but it's great to see that success...
Laura,
Appreciate the feedback.
It has been a challenge on my personality to post and share results beyond a trade here or there. It is opposite to how I am geared to appear boastful about anything. There have been many moments where I started to post then deleted, for fear of giving that impression or give an appearance of rubbing it in on another member who had a tough day or week.
When I first started attempting this process back in May, I was only hitting about 25% win rates. So my postings are geared to help others realize that it doesn't start off automatically as a winner. Not because the system doesn't work, but because you have to get screen time, making actual trades, analyzing your trades relative to the chart price action to determine the "nuance" that makes it work true to roadmap but most importantly to how you yourself are wired and therefore see and emotionally handle the market. If anyone goes back and looks at charts I posted back in May and early June and compare those to my recent postings, they will see I am not trading the same.
Those changes have shifted from a losing process to a winning process, but all built on the roadmap foundation.
The great news is when I see people posting winners that use a wholly different take versus mine, but center on roadmap, showing it can be broadly used !
Quoting MrAnta997
{quote} I agree with everything you said.. Problem for me is that I can't ''find'' more time for trading, so I get to trade when I'm already tired or whatever.. But if I make an excuse out of it, it will just get me lower and lower.. I have to work with what I have, and in this case, it's pretty limited time, but I hope I'll manage to repeat as much as I can and eventually get it up and running.. Watching Mark Douglas helped me a lot when it comes to turning emotions off, they're still getting in the way, but I will work on that problem.. {quote}...
Thank you for sharing some examples. It provides me with a better overview of where you might be going wrong.

My first observation is that you are sometimes buying into bearish momentum or selling into bullish momentum. In other words, you are making a bet that a market will reverse. I would advise against this. Aim to stick with simple trades that are in alignment with the SMA200 bias, to begin with at least.

I'd also suggest you start making use of trendlines in accordance with my journal post (I might have also posted in this thread about trendlines, I forget now). They will provide you with a framework for being able to tell when a move is reversing, or at least running out of steam. They should stop you buying into bearish momentum and vice versa.

We don't have to be too clever in this game. We can wait until we have momentum on our side, and the SMA bias on our side, and enter.

A simple example:

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In terms of the time you have available to trade, I'm wondering if you're being realistic with what you are trying to achieve. It might be the case that you simply don't have the time to devote to screen-watching. All is not lost if so though, as you could try trading on longer timeframes so you don't have to manage each trade in such detail. Bear in mind that stops and take profit numbers will be larger on larger timeframes, but otherwise the same rules should apply.

Here's a highly lucrative trade I took today:

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I don't aim to boast, merely to highlight what's possible when you keep it simple. As you'll see, it was a straightforward channel cross. Nothing fancy at all. So consider going back to basics and only taking one or two types of trades, with the help of trendlines to highlight momentum.
Quoting LauraT
{quote} Thank you for sharing some examples. It provides me with a better overview of where you might be going wrong. My first observation is that you are sometimes buying into bearish momentum or selling into bullish momentum. In other words, you are making a bet that a market will reverse. I would advise against this. Aim to stick with simple trades that are in alignment with the SMA200 bias, to begin with at least. I'd also suggest you start making use of trendlines in accordance with my journal post (I might have also posted in this thread about...
I draw trendlines almost every time, these are fresh templates (deleted all the objects from previous days), so there aren't any trendlines drawn..
The trade I took while taking printscreens of my trades is a big loss atm.. I misunderstood some parts, I was too much SMA bias, so I traded against the trendline a lot.. Thanks for pointing me out!! I will post my charts with trendlines drawn, so you could see if I'm doing it right or not.. I think they're okay, but I tend to draw a ''main'' ones, and not these smaller ones.. Maybe that could be an issue also, since I trade (Crypto) longer timeframes, so I'm used to looking for longer period trends, if you can understand me.. But hey, I'll have to adapt, and looking forward to, tbh..

Quoting LauraT
{quote} In terms of the time you have available to trade, I'm wondering if you're being realistic with what you are trying to achieve. It might be the case that you simply don't have the time to devote to screen-watching. All is not lost if so though, as you could try trading on longer timeframes so you don't have to manage each trade in such detail. Bear in mind that stops and take profit numbers will be larger on larger timeframes, but otherwise the same rules should apply.
Don't wanna sound greedy, but I feel that shorter timeframes are faster ''money''.. My acc (when I go live) will be a bit smaller, so I will take my chances so I could make bank bigger - faster, and then switch to longer timeframes and position trading.. Again, if I'm wrong, tell me, I really respect your opinion and it means a lot


Quoting LauraT
{quote} Here's a highly lucrative trade I took today: {image} I don't aim to boast, merely to highlight what's possible when you keep it simple. As you'll see, it was a straightforward channel cross. Nothing fancy at all. So consider going back to basics and only taking one or two types of trades, with the help of trendlines to highlight momentum.
Textbook trade, it's gorgeous!!
Please, to you and TheG-Lover: Showing your winnings here isn't bragging at all, nevertheless it's motivation for us guys to keep up with practice.. Also, other peoples success shouldn't be a problem to anyone, I guess..
Again, thank you!!
Quoting MrAnta997
{quote} Don't wanna sound greedy, but I feel that shorter timeframes are faster ''money''.. My acc (when I go live) will be a bit smaller, so I will take my chances so I could make bank bigger - faster, and then switch to longer timeframes and position trading.. Again, if I'm wrong, tell me, I really respect your opinion and it means a lot
It's a tricky situation. On one hand you don't currently have the time required to devote to trading but on the other you don't yet have the consistency to justify going live.

If you'd rather stick with the short timeframes that's fine. My suggestion was based upon your time issue but I understand what you say in that regard.

For now, we'll take it one stage at a time and analyse your fully marked up charts. It's great to hear you are making use of trendlines/speedlines but I think some improvement in their usage can be made. I immediately recognised you fighting against momentum as it was very common among my students. Good use of trendlines fixed the issue for them so I'm sure we can sort it out for you too. It's obviously more of an art than a science so it takes practice.

Going forward, it might be a good idea (if possible) to book some holiday from work so you can feel the experience of trading full time. I don't want to discourage you at all but the reality can be stressful, especially in the beginning. So don't be in too much of a rush to go live. It'll come, just a matter of when, and it's much better to do so from a position of self-confidence justified by results.
  • Post #2,911
  • Quote
  • Edited Sep 5, 2020 12:12am Sep 4, 2020 11:55pm | Edited Sep 5, 2020 12:12am
Quoting MrAnta997
{quote} I agree with everything you said.. Problem for me is that I can't ''find'' more time for trading, so I get to trade when I'm already tired or whatever.. But if I make an excuse out of it, it will just get me lower and lower.. I have to work with what I have, and in this case, it's pretty limited time, but I hope I'll manage to repeat as much as I can and eventually get it up and running.. Watching Mark Douglas helped me a lot when it comes to turning emotions off, they're still getting in the way, but I will work on that problem.. {quote}...
Hi, after seeing your trades I really noticed that you are going against major trendlines and momentum (shorter timeframe trendlines) a lot as Laura already stated. I had same problem. You should use short term trendlines and wait them to be broken or 2 MAs indicator for momentum indication (there is a post by Laura in this thread with attached indicator, please find it by yourself). After applying this filter I got improved results and a lot less number of trades After some time using these 2 MAs filter you get natural with getting with momentum trades. See how charts look like in my image attached. Also I made some analysis on your charts to show you why I would not enter, of-course it's easy for me in hindsight, but I hope you get an idea. Good luck.
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Hi, sold gu, lets see if this can work out.
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Entered at 1.32439 ,I use trailing stop and stopped at 1,32160. +28 pip. I guess I put sl very close, I should've given space to go. Nevermind, It is nice to see the system working.
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Hi, new to this thread (not so new to Trading, so pls ignore anything else on my charts!). Spent last week reading the whole thread - a lot of very useful information. hoping to add something to my limited arsenal

3 trades ive opened today - happy to be told if/where ive messed up (all still running, but with the US hols its very slow going)

Edit London close: out for 20+5+5 - too slow today with the US hols
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@Laura , while your system is very good for trading and the rules are simple as per your explanation which is quite easy to follow . The main problem is catching the pair which runs for the day . The hapless trader is presented with a list of instruments in fx to trade but on a given day only one or 2 pair runs while the other languish .
finding the pair which runs is the key to winning , kindly enlighten us how to find the pair which runs for the day and then on that pair if we apply your system i am sure the results will be outstanding .

Any method or rule to find which pair will run for the day ??
Quoting unimak
@Laura , while your system is very good for trading and the rules are simple as per your explanation which is quite easy to follow . The main problem is catching the pair which runs for the day . The hapless trader is presented with a list of instruments in fx to trader but on a given day only one or 2 pair runs while the other languish . finding the pair which runs is the key to winning , kindly enlighten us how to find the pair which runs for the day and then on that pair if we apply your system i am sure the results will be outstanding . Any...
i think you will find you are asking the impossible - if everyone knew that, we would all be millionaires! But you can do a few things to help point you in the right direction - top-down analysis, power/strength meters etc etc
Laura and za1jcas, My apologies, didn't want to reply before I try out what was pointed out to me..
Here are my trades for today, they're still running, not good, but not horrible I'd say.. Far better then those few I did before, going against the momentum..


Quoting za1jcas
{quote} You should use short term trendlines and wait them to be broken or 2 MAs indicator for momentum indication (there is a post by Laura in this thread with attached indicator, please find it by yourself). After applying this filter I got improved results and a lot less number of trades After some time using these 2 MAs filter you get natural with getting with momentum trades. See how charts look like in my image attached.
I didn't manage to find it yet, so these trendlines were drawn without 2 MAs filter.. Will try to find the post tonight, also, thanks for mentioning it, I'll reply to that post when I find so it doesn't get lost again..
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Quoting Jp1
Hi, new to this thread (not so new to Trading, so pls ignore anything else on my charts!). Spent last week reading the whole thread - a lot of very useful information. hoping to add something to my limited arsenal 3 trades ive opened today - happy to be told if/where ive messed up (all still running, but with the US hols its very slow going) Edit London close: out for 20+5+5 - too slow today with the US hols {image} {image} {image}
Hi - welcome

As you know, you picked a day where volume and action was going to be relatively thin. But I see you got 30 pips so well done!

The entries all looked valid according to the rules.

Look forward to reading more from you.
Quoting unimak
@Laura , while your system is very good for trading and the rules are simple as per your explanation which is quite easy to follow . The main problem is catching the pair which runs for the day . The hapless trader is presented with a list of instruments in fx to trade but on a given day only one or 2 pair runs while the other languish . finding the pair which runs is the key to winning , kindly enlighten us how to find the pair which runs for the day and then on that pair if we apply your system i am sure the results will be outstanding . Any method...
Hi

As JP has suggested, it's not really something we can pinpoint in advance to any great degree. However, he's right about stacking the odds slightly in your favour by looking at which individual currencies are weak/strong and trading the relevant pair (assuming a roadmap valid signal is present).

One other thing I like to do is to look for continuation trades. For example, an instrument where the channel has been above SMA200 for a certain amount of time. Then I wait for a retracement to exhaust itself (using trendlines/speedlines) and get in on the side of the established trend.

Here's an example I picked at random from Thursday:

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The cross had already happened by the time I was ready to trade so I'd have drawn the trendline and waited for it to be broken, betting on a continuation to the downside.
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