Roadmap - A Way To Read Markets | Page 159 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Software tools for LauraT's Roadmap 169 replies

Forex Brokerage Roadmap 4 replies

Best way to read all of someone's posts? 3 replies

Simple way to read chart 11 replies

Attachments: Roadmap - A Way To Read Markets
Exit Attachments

Roadmap - A Way To Read Markets

  • #3,161
  • Sep 19, 2020 8:07pm Sep 19, 2020 8:07pm
Trading Exercises

I've added a section to my journal on trading exercises, with two examples you can use if you wish. You can find the post here:

https://www.forexfactory.com/thread/...1#post13174201

Please direct any questions or comments in here as the journal is just for information.

Thanks

Laura
  • #3,162
  • Sep 19, 2020 10:00pm Sep 19, 2020 10:00pm
Quoting LauraT
{image} Further to yesterday, here's an example of a trade that was taken primarily using trendlines. I was alerted to a possible long when the trendline joining the highs was broken. At that point, I drew a second trendline joining the lows and entered. Notice the trade actually went against me for a while, until it eventually found support on the trendline and started rising. Normally I say exit if the channel crosses the SMA to the other side but the trendline kept me in. If I had taken a multi-bullet approach to this trade, you can imagine where...

Greetings Laura,

Thanks once again for the thread. I have going through all the charts posted by your and other members and I thing I would like to ask about this chart and few others from you is how do you draw those support and resistance structures on your chart. Do they come from the same TF as you are trading, higher TF and how much weightage they have in terms of taking an entry or exit decision. If you have explain that in upcoming posts after page 77 then I will find out and you could disregard.

Thanks
  • #3,163
  • Sep 20, 2020 2:15am Sep 20, 2020 2:15am
Refering to something you wrote in your journal/exercise 1:
Don't expect much success if you are trading outwith London or New York sessions, for example.

What exactly do you mean by this?
  • #3,164
  • Sep 20, 2020 3:06am Sep 20, 2020 3:06am
Quoting josi
Refering to something you wrote in your journal/exercise 1: Don't expect much success if you are trading outwith London or New York sessions, for example. What exactly do you mean by this?
I think she means that you should trade during the london/new York session.
  • #3,165
  • Sep 20, 2020 3:11am Sep 20, 2020 3:11am
Quoting Hooman86
{quote} Greetings Laura, Thanks once again for the thread. I have going through all the charts posted by your and other members and I thing I would like to ask about this chart and few others from you is how do you draw those support and resistance structures on your chart. Do they come from the same TF as you are trading, higher TF and how much weightage they have in terms of taking an entry or exit decision. If you have explain that in upcoming posts after page 77 then I will find out and you could disregard. Thanks
Hi

The horizontal lines on that chart were drawn by an indicator I was trying out. I no longer use the indicator but, if you look in my journal, you will see I did a 'look left' post that explains how to establish S/R on any timeframe.
  • #3,166
  • Sep 20, 2020 3:15am Sep 20, 2020 3:15am
Quoting josi
Refering to something you wrote in your journal/exercise 1: Don't expect much success if you are trading outwith London or New York sessions, for example. What exactly do you mean by this?
Simply that, if possible, you should aim to do the exercise during one of those trading sessions as volume will be larger and there is more chance of bigger moves. If circumstances don't allow you to trade during those sessions, you can still try during Asian session but it might not be as thorough an examination of potential outcomes.
  • #3,167
  • Sep 20, 2020 8:19am Sep 20, 2020 8:19am
Quoting Piscis
I would like to phone a friend please... Here name is Laura....


I get the engaged signal every time I try to call
  • #3,168
  • Sep 20, 2020 8:42am Sep 20, 2020 8:42am
Hi,

I just wanted to share some idea's with regards Laura's latest journal exercise.
Once you have done exercise 1 a few times. You are then ready to start doing it while allowing yourself to take profit early/let profit run. (do not adjust Stop Loss)

My idea is, if you are going to manually intervene with your take profit level, you should do so without "THINKING" it's time to take profit, or closing the trade out of "FEAR".
If you want to take profit early or let your profit run, try setup some conditions that have to be met. Like breaking a speedline, or the 8ema channel fully passing through the 55ema channel etc. This will allow us to take profit in different ways, without our emotions being the reason we do so.

I have attached some pictures to illustrate what I am saying. I know that we do this anyway. but I just wanted to remind everyone, especially us newcomers, that we need to close our trades based on conditions rather than feelings.

Good Luck

Attached Image (click to enlarge)
Click to Enlarge Name: Exampleeeeee.png Size: 68 KB
Attached Image (click to enlarge)
Click to Enlarge Name: Exampleeee.png Size: 62 KB
  • #3,169
  • Sep 20, 2020 9:56am Sep 20, 2020 9:56am
Quoting btrfx1
{quote} I get the engaged signal every time I try to call
That's because a lot of people don't read both of her threads first.
every Saint has a past. Every Sinner has a Future
  • #3,170
  • Sep 20, 2020 10:38am Sep 20, 2020 10:38am
[quote=btrfx1;13172392]{quote} . 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, .

It has taken me a while to copy Laura's original chart, and place the notes--LAURA please edit it as required to suit your requirements.
I trust it helps those, (as I recall one member who said I just don't get it,) and others.
Ben

Attached Image (click to enlarge)
Click to Enlarge Name: cT_cs_1010799_GBPAUD_2020-09-21_01-23-47.png Size: 96 KB
  • #3,171
  • Edited 3:12am Sep 21, 2020 2:00am | Edited 3:12am
.
Attached Image (click to enlarge)
Click to Enlarge Name: cT_cs_1010799_GBPAUD_2020-09-21_16-46-58.png Size: 50 KB
  • #3,172
  • Sep 21, 2020 2:51am Sep 21, 2020 2:51am
Quoting btrfx1
.Roadmap Homework update. Test---2 closes above/below the 200 SMA First 4 of 20 required Is the attached as per instructions {image} Bi 4 now
Hi Ben

Which test are you doing? If it's test 2 (channel breaks), it's 2 bars closing under or over the 8EMA channel for entry.

Laura
  • #3,173
  • Sep 21, 2020 3:10am Sep 21, 2020 3:10am
Quoting LauraT
{quote} Hi Ben Which test are you doing? If it's test 2 (channel breaks), it's 2 bars closing under or over the 8EMA channel for entry. Laura
Hi Laura Embarrassed and can only apologize

Looks like I have no idea what I am doing as it's neither your rules for charts 1 or 2.

I will try an delete it immediately
Ben
  • #3,174
  • Sep 21, 2020 3:18am Sep 21, 2020 3:18am
Quoting LauraT
{quote} Hi Ben Which test are you doing? If it's test 2 (channel breaks), it's 2 bars closing under or over the 8EMA channel for entry. Laura
I got rid of the text but cannot remove the attachment--sent a note for chart to be removed.

I'll just crawl back in my hole, with apologies if anyone tried to follow the chart

Help me if you can

Ben
  • #3,175
  • Sep 21, 2020 3:22am Sep 21, 2020 3:22am
Quoting btrfx1
{quote} I got rid of the text but cannot remove the attachment--sent a note for chart to be removed. I'll just crawl back in my hole, with apologies if anyone tried to follow the chart Help me if you can Ben
Don't worry about it

It probably highlights the fact I haven't made things clear enough. I'll check over the journal entry again when I'm done trading.
  • #3,176
  • Sep 21, 2020 3:25am Sep 21, 2020 3:25am
I have a question, I went and took a buy position on GBP/USD because the rsi was at like 14 and i just got stopped out because it went down to like 9, why did it do that, and how can I tell if its going to drop more?
  • #3,177
  • Sep 21, 2020 3:49am Sep 21, 2020 3:49am
Quoting LauraT
{quote} Don't worry about it It probably highlights the fact I haven't made things clear enough. I'll check over the journal entry again when I'm done trading.
Hi again,
I did all of my work in a black background so when I changed it to white it went pear shape, and also not in accordance with your rules.
I will redo it and send it for clearance before posting.
Ben
  • #3,178
  • Sep 21, 2020 5:39am Sep 21, 2020 5:39am
Quoting damonpolkj
I have a question, I went and took a buy position on GBP/USD because the rsi was at like 14 and i just got stopped out because it went down to like 9, why did it do that, and how can I tell if its going to drop more?
I have looked hard as I can to see a reason for you to be buying if you are following the roadmap, but I don't see it.
Can you show how the roadmap would have you buying at an rsi of 14? If you cannot then maybe there is the answer you seek.
  • #3,179
  • Sep 21, 2020 6:04am Sep 21, 2020 6:04am
The double channel approach in action...

Attached Image (click to enlarge)
Click to Enlarge Name: Ger30Sb1220M1.png Size: 45 KB

I've hopefully mentioned this already but, just in case I haven't, ADR High/Low does not carry the same weight on indices as it does with currencies. I will therefore happily sell indices below ADR Low if the conditions are right.
  • #3,180
  • Sep 21, 2020 6:15am Sep 21, 2020 6:15am
Quoting LauraT
Trading Exercises I've added a section to my journal on trading exercises, with two examples you can use if you wish. You can find the post here: https://www.forexfactory.com/thread/...1#post13174201 Please direct any questions or comments in here as the journal is just for information. Thanks Laura
Home work for Ex.2
You mark it up from 8am onwards

a friend ( not allowed)

On a more serious note: I am setting up with AMP Futures (USA) ( I am in the UK ) and found I can use SEPA ( google it).
Tried Trading Station via "tranferwise" who said they don't assist funding USA brokerages !!! Their Wire system caused puzzled " can't do this" in the bank. So off to AMP I hope to go.
Meanwhile no live trading for me.
Attached Image (click to enlarge)
Click to Enlarge Name: NasdaqAM.png Size: 1.7 MB
every Saint has a past. Every Sinner has a Future
0 traders viewing now