Roadmap - A Way To Read Markets

Quoting LauraT

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Here's an oil trade I just closed. Wanted to highlight this one because of the exit reason. I could see that market structure was starting to change but didn't want to simply exit when the previous low was broken. I figured I could get a better price by anticipating when the lower high was in place. I know I say you should exit when you are proven wrong but I hope the distinction between that and this is clear. My fate was sealed when the lower low was made, I was always going to take profit, but I managed to make a little extra profit by not panicking...

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Quoting DavidUK

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Hi Laura, Another question I'm afraid! Are there any forex pairs that you have found to work particularly well, or are too volatile/unreliable to work with your system? ie.. Any pairs you particularly avoid or favour?

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Quoting LauraT

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{quote} Hi David - no problem I don't have any favourite pairs but I do avoid all Swiss Franc pairs as I don't like the Swiss National Bank's habit of springing surprises on the market.

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Quoting DavidUK

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{quote} Thanks Laura. I too remember the crash which took out several brokers and thousands of accounts! I will follow your lead. It would be great to see a few more examples of market structure, as they're really useful.. Looking back through the charts I sometimes find myself wondering why one channel break worked while another didn't, leaving aside the move just to the left. Thank you so much for sharing your experience with us here. People would pay good money for this.. Sharing this for free is awesome

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Quoting LauraT

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{quote} Hi David - no problem I don't have any favourite pairs but I do avoid all Swiss Franc pairs as I don't like the Swiss National Bank's habit of springing surprises on the market.

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Quoting lemercenaire

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{quote} It always scares me when I see so many new traders using the CHF!!! Run away! Run away!

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Quoting Nick24

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Hi all, back to live trading after a long pause, had to gather my thoughts and regroup after a terrible month in the red. A swing trade I took yesterday in dow ,in 1min TF, my best so far with the Roadmap. {image}

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Quoting maxymm74

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[quote = LauraT; 13192071] {quote} Postscript: Dopo averlo chiuso, il mercato mi ha ricordato che non ero così intelligente sparando al rialzo [/ quote] Hi Laura, thank you very much for your teachings, a really beautiful thread, in this regard I wanted to ask you for advice. According to your experience to read the market structure, for example on nq at 1 minute, I would like to use a zig zag indicator that allows me to immediately see the minimum and maximum of swing but I am a bit undecided on the values to be set, those of default seems...

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Quoting piotrekk2000

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Hi Laura First, thank you for helping others here I have a question about your journal It is about sections 11 and 2 of the exercise I did 20 transactions as you wrote there 11/20 of the transaction closed on SL, sometimes SL was a few pips on + I did not take into account the market structure and important levels in this exercise Just if 2 bar went beyond channel 8 I would go in and wait for TP If the price came back below channel 1, I would exit SL close Was this exercise just to get you in the habit of getting in and out if the market doesn't...

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Quoting LauraT

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{quote} Hi The main aim of the exercise is to get you into the habit of consistently taking setups when you see them (and consistently exiting when proved wrong). I do not recommend this as a complete trading strategy. As you say, it ignores a lot of key information which the roadmap provides to us. However, if you closed 11 of the 20 at SL and some of the SL's were positive, that means at least half of the outcomes would have been positive? Were you in profit overall? Now that you have seen how it feels to have strict rules around when...

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