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  • #3,141
  • Sep 18, 2020 3:21am Sep 18, 2020 3:21am
Hi

Thank you Laura for your awesome thread.

I entered DOW in 5M TF, I thought it would be a continuation of previous cross failure. (MTF trend band was green for 1 & 5)

1- is it true to enter trade after long time when price back to the channel and the channel still near the SMA? or valid entry is only after first signal?
2- I placed SL far enough to avoid getting me out, but when should I close the trade manually? right now channel in 5M (the TF I trade based on) is not fully crossed but 1M TF is fully crossed. more over the true trend in 5M still positive. should I exit based on 1M or keep base on 5M?

Attached Image (click to enlarge)
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thank you all.
  • #3,142
  • Sep 18, 2020 5:08am Sep 18, 2020 5:08am
Quoting LauraT
{quote} Here you go {file}
LauraT,
Thanks for the thread and posts.
What settings do you use in the TrueTrend for indexes? (forex?). Default (300)?
Thank you.
  • #3,143
  • Sep 18, 2020 5:23am Sep 18, 2020 5:23am
Quoting dbsdsun
AUDCAD M15, short under trend line, then manually closed {image} but in AUDCAD M30, it is above sma200. it's sma200 bounce. I can only say I run away quickly. {image} the compositeRSI was 65.27 at the entry point. another clue is SMA200 upward.
G,day dbsdsun,
Thanks for sending the charts i requested.

In view of some issues raised here, perhaps more for the newcomers to the Roadmap, I started to prepare some notes to help, you are one and the other is MrAnta997 i

Rather than pick up one one or two points, I wonder if I may direct you to Laura's "JOURNAL"

tHIS LADY HAS DONE SUCH AN INCREDIBLE JOB TO IDENTIFY AND EXPLAIN HER WORK (oops sorry caps lock hit by mistake)that it deserves your full attention and in depth study.

In my opinion many of the answers ROADMAP MEMBERS seek, have been addressed in that Journal.

Please take the time to study that journal, if you still have issues then ask here and someone will reply.

Bi 4 now
Ben
  • #3,144
  • Sep 18, 2020 5:42am Sep 18, 2020 5:42am
Quoting LauraT
{quote} Good analysis. You're right, it was gearing up for a climb. But you extracted the maximum you could out of the down move so well done
Thank you Laura, your help is invaluable

More practice needed
  • #3,145
  • Sep 18, 2020 5:55am Sep 18, 2020 5:55am
Quoting ardalan91
Hi Thank you Laura for your awesome thread. I entered DOW in 5M TF, I thought it would be a continuation of previous cross failure. (MTF trend band was green for 1 & 5) 1- is it true to enter trade after long time when price back to the channel and the channel still near the SMA? or valid entry is only after first signal? 2- I placed SL far enough to avoid getting me out, but when should I close the trade manually? right now channel in 5M (the TF I trade based on) is not fully crossed but 1M TF is fully crossed. more over the true trend in 5M still...
Hi

When you're new to the methodology, probably safer to stick to channel crosses rather than trying channel failures. Reason being, a channel cross requires confirmation, whereas a failure doesn't.

In terms of multi-timeframe analysis, it's a tricky one. I could make an argument for both sides as what I do myself is sometimes one or the other. In general though, you should stay in a trade until proven wrong. In your case, a channel failure will only prove you wrong on the 5m timeframe in which you entered.

So, if it was me, I'd have stayed in until I was proved wrong on the 5m. I would say though that it looks like price was intending to go nowhere fast as, if you zoom out further, you'd probably find the market was entering a compression phase, with reduced volatility.

Hope this helps.
  • #3,146
  • Sep 18, 2020 5:56am Sep 18, 2020 5:56am
Quoting MidnightRun
{quote} LauraT, Thanks for the thread and posts. What settings do you use in the TrueTrend for indexes? (forex?). Default (300)? Thank you.
Hi

It's set to 200 to roughly replicate the SMA.
  • #3,147
  • Edited 7:49am Sep 18, 2020 6:47am | Edited 7:49am
I took this trade earlier on EURUSD,
MTF and rsi were good for long,price retested the SMA and looked to me we went from bearish to bullish momentum. I drew a trendline after i entered the trade,price went in my favour for a bit and then broke below the trendline. I was thinking at the time that price was still above the SMA so i closed with a loss when it fully crossed below. Should i have exited the trade earlier,or maybe it was a bad entry to begin with ? looking back it also seems even with bullish momentum price was still below the previous high.

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What you seek is seeking you. -Rumi
  • #3,148
  • Sep 18, 2020 6:52am Sep 18, 2020 6:52am
Quoting btrfx1
{quote} G,day dbsdsun, Thanks for sending the charts i requested. In view of some issues raised here, perhaps more for the newcomers to the Roadmap, I started to prepare some notes to help, you are one and the other is MrAnta997 i Rather than pick up one one or two points, I wonder if I may direct you to Laura's "JOURNAL" tHIS LADY HAS DONE SUCH AN INCREDIBLE JOB TO IDENTIFY AND EXPLAIN HER WORK (oops sorry caps lock hit by mistake)that it deserves your full attention and in depth study. In my opinion many of the answers ROADMAP MEMBERS seek, have...
A few technical hiccups but it is what it is,

Identified comments from the Roadmap

The LT Roadmap
I have been an observer and user of Laura’s system and find her work invaluable, however for some users of her system, some find it very difficult to use, especially the newer members, whose experience or perhaps inexperience, causes repeated questions, which indicates some assistance may be of help.
I submitted a letter to Laura for permission to post a very basic idea of the Roadmap system. I am holding off that for the time being, as it may create more confusion, especially if the idea is misinterpreted.
I received that permission today, so let’s see what types of questions were identified.




These comments were taken from the Roadmap—"A way to read markets” posted in FF.
Some of those questions are as follows.

Answers are in Laura's Journal.

. Where can I enter.
. How far away from the 200SMA should I exit.
. Can I enter LONG under the 200SMA.
. What is Momentum..
. Can I enter INSIDE the Channel.---(Long or Short)
. Can I enter OUTSIDE the Channel.---(Long or Short)
. What do I do if price is OUTSIDE the Channel---(Either Long or Short)
. What do I do if price is INSIDE the Channel---(Either Long or Short)
. Where should I take profit.
. Can I trade to Yesterdays High/Low from where I am now.
. Do I take profits at the ADR—(Today’s or a prior ADR point of reference)
. What is a Speedline
. How can I use a Trendline.
. What’s the difference between a Speedline and a Trendline.
. What time frame should I be looking at.
. What is a Higher Time Frame---e.g if I am looking at a 5 min chart what is the next higher time frame I need to look at.
. Do strong market moves retrace if price has risen significantly ABOVE/BELOW below the 200SMA.
. I fell asleep after I put the trade on.
. I don’t have enough time to sit and stare at the screen all day.
. I have a full time job and can only use my mobile phone occasionally to check intraday prices
. Laura can successfully trade an intraday 1 min chart, others have difficulty identifying a point of entry on that time frame.
Laura made a suggestion in her Roadmap that it pays to step back and widen the scope of the trade, combined with a “Look Left” view.

Hope it can help someone
Ben
  • #3,149
  • Sep 18, 2020 8:55am Sep 18, 2020 8:55am
Quoting btrfx1
{quote} G,day, there's no limit to the number of trendlines you may use, a second one down into the low, after such a good 1 min chart movement down, would have given you max profit. Still a profits a profit. May I ask you why you held for the ADR Low----Does your prior analysis on ADR lows suggest it is a potential target, I have never used that idea so interested in your thoughts OK Lights out here, sorry, you asked for Laura's input. Nite
Hi Btrftx , thanks I will check out Laura's journal on the section 9 I think I missed it out and yeah I'm just practicing to hold on longer on my winner Anyway I put my profit target on the ADR Low because on the left coincidence there was a support zone near the level so I set it there .
  • #3,150
  • Sep 18, 2020 9:03am Sep 18, 2020 9:03am
Quoting LauraT
{quote} You did the right thing in getting out. You could have got out lower by adding a speedline (a steeper trendline) but where you exited was fine. In terms of how to hold winners longer, we must simply take what the market offers us. Although your target was ADR Low, the market won't necessarily go there. So, it's about taking what's on offer and not trying to bend the markets to our desires.
Hi Laura. I do think I did the right thing getting out there but I just need comment from you to know whether I'm doing ok managing that trade and I will remember your words and will keep reminding myself that taking what's market has to offer and not trying to bend the markets to our desires its a very good advisethank you
  • #3,151
  • Sep 18, 2020 1:17pm Sep 18, 2020 1:17pm
03 GU Trades today.
02 Won and 01 Loss.
Loss trade entered after rejection from SMA, assuming revisit of yesterday high. RSI was around 60. But, trend reversed due to high resistance to break above and hit tight SL below 200SMA.

Trade 1 : 33 pips
Trade 2 : 7 pips
Trade 3 : -21 pips
Total +19 pips.

Attached Image (click to enlarge)
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Laura,
Thank to you, last 03 months i was following this strategy and has improved lot in trading compared to before. I could gain 225 pips with winning rate of 65% (out of 228 trades). But, i have lost my equity 85% due to poor trade management such as too much trading trying to recover losses, not selecting the best trades, trade during red news etc. I think discipline has been the matter most. Welcome comments for improvement.
Consistency & Patience
  • #3,152
  • Sep 18, 2020 1:26pm Sep 18, 2020 1:26pm
Quoting coolsjc
03 GU Trades today. 02 Won and 01 Loss. Loss trade entered after rejection from SMA, assuming revisit of yesterday high. RSI was around 60. But, trend reversed due to high resistance to break above and hit tight SL below 200SMA. Trade 1 : 33 pips Trade 2 : 7 pips Trade 3 : -21 pips Total +19 pips. {image} Laura, Thank to you, last 03 months i was following this strategy and has improved lot in trading compared to before. I could gain 225 pips with winning rate of 65% (out of 228 trades). But, i have lost my equity 85% due to poor trade management...
Great to hear you are having success

The mistake you made was to try to buy again when price was near Yesterday's High (dotted blue line). Always expect that those lines will, at least temporarily, cause a change in direction. I know you said you expected a revisit but that's actually quite rare once the line has been tested.
  • #3,153
  • Sep 18, 2020 3:04pm Sep 18, 2020 3:04pm
Quoting coolsjc
03 But, i have lost my equity 85% due to poor trade management such as too much trading trying to recover losses, not selecting the best trades, trade during red news etc. I think discipline has been the matter most. Welcome comments for improvement.
Speaking from experience, I am never sure which is more painful...working a system that never works or fails after a time.....or having a system that works but I cannot execute to it. I have experienced both in my time, more than I like to recall....<< assumes fetal position on floor for a few minutes >>

I highly recommend reading anything by Mark Douglas and watching what you can find on youtube by him. It is a bit redundent, but I found I had to have it told to me many times before I let it sink in.

Your probability says you can be a winner ()

But sounds like you are trading emotionally....Mark Douglas can help with that...

After that (And I am not sure because you did not mention your W/L ratio on executed trades nor money management rules)...but seems like a money management study would be of value as well.....
  • #3,154
  • Edited 11:34pm Sep 18, 2020 4:28pm | Edited 11:34pm
Quoting coolsjc
03 GU Trades today. 02 Won and 01 Loss. Loss trade entered after rejection from SMA, assuming revisit of yesterday high. RSI was around 60. But, trend reversed due to high resistance to break above and hit tight SL below 200SMA. Trade 1 : 33 pips Trade 2 : 7 pips Trade 3 : -21 pips Total +19 pips. {image} Laura, Thank to you, last 03 months i was following ths strategy and has improved lot in trading compared to before. I could gain 225 pips with winning rate of 65% (out of 228 trades). But, i have lost my equity 85% due to poor trade management...
Hope you don't mind my adding something that could make a difference, because my enthusiasm was often crushed after a few good trades only to be caught on the wrong side and giving up all my gains (and more sometimes). The True Trend Indicator that Laura uses can be used as a momentum indicator also....but not with a setting of 200. 200 works great to show overall trend strength, no question, but what about the short term potential for a change in direction? Well that is where the Entry cci setting comes in handy. (actually this is a setting used by Ken Woods when he developed Woodies CCI trading futures, works just as well with currencies)

So, when using the True Trend indicator, go to settings and set the Entry CCI at around 20, and have it on the chart also. Now you have both the longer term cci and the shorter term cci to show strength of that direction...In this case the divergence you see on the chart was quite clear that we were seeing a momentum slowing by the very clear divergence over 20 periods (magenta trend lines) which alterts the trader to be careful of further entries on the long side in this case. Also, a level of 200 for the Entry CCI is also a warning things could be getting overbought and caution was needed, especially so when testing yesterdays high. Add it all together and you could also try a little counter trend trade.

Anyway, just my 2 pips for what its worth....
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  • #3,155
  • Sep 18, 2020 9:45pm Sep 18, 2020 9:45pm


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It takes a lot for me to IGNORE you, but you can try.
  • #3,156
  • Sep 19, 2020 1:35am Sep 19, 2020 1:35am
I would like to phone a friend please... Here name is Laura....
  • #3,157
  • Sep 19, 2020 9:26am Sep 19, 2020 9:26am
Thank you very much Laura, G-Lover and Swede for your valuable comments and guidance.

@G-Lover: Started watching Youtube videos by Mark Douglas to improve discipline and get rid of emotional trading. Hope this will work for me. Thanks again.

@Swede: Indicator added for aware of strength.
Consistency & Patience
  • #3,158
  • Sep 19, 2020 9:40am Sep 19, 2020 9:40am
Quoting LauraT
{quote} I mainly trade oil and indices these days but, when I do trade forex, I'm careful not to get too heavily stacked in correlated pairs. For example, if yen is weak, I'll choose one currency to short it against. I won't enter multiple yen pairs at once.
Which indices mainly do you trade? Thanks.
  • #3,159
  • Sep 19, 2020 1:25pm Sep 19, 2020 1:25pm
Quoting coolsjc
Thank you very much Laura, G-Lover and Swede for your valuable comments and guidance. @G-Lover: Started watching Youtube videos by Mark Douglas to improve discipline and get rid of emotional trading. Hope this will work for me. Thanks again. @Swede: Indicator added for aware of strength.
Don't hope. Just do the thing. Over and over and over and over and over until you are the thing. You got this ^_^
  • #3,160
  • Sep 19, 2020 3:28pm Sep 19, 2020 3:28pm
Quoting tradepar
{quote} Which indices mainly do you trade? Thanks.
Dow, Nasdaq, SPX, FTSE, Dax.
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