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Roadmap - A Way To Read Markets

  • #3,481
  • Sep 30, 2020 1:09pm Sep 30, 2020 1:09pm
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 and actively managing my exit.

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  • #3,482
  • Sep 30, 2020 1:16pm Sep 30, 2020 1:16pm
Quoting LauraT
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...
Postscript: After I closed it, the market reminded me I wasn't so clever by shooting upward
  • #3,483
  • Sep 30, 2020 1:40pm Sep 30, 2020 1:40pm
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 avoid or favour?
  • #3,484
  • Sep 30, 2020 1:43pm Sep 30, 2020 1:43pm
Quoting DavidUK
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?
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.
  • #3,485
  • Sep 30, 2020 1:54pm Sep 30, 2020 1:54pm
Quoting LauraT
{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.
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
  • #3,486
  • Sep 30, 2020 2:09pm Sep 30, 2020 2:09pm
Quoting DavidUK
{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
I'll try to keep in mind to post more trades where market structure was a major factor.
  • #3,487
  • Sep 30, 2020 2:25pm Sep 30, 2020 2:25pm
Quoting LauraT
{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.
It always scares me when I see so many new traders using the CHF!!! Run away! Run away!
  • #3,488
  • Sep 30, 2020 2:28pm Sep 30, 2020 2:28pm
Quoting lemercenaire
{quote} It always scares me when I see so many new traders using the CHF!!! Run away! Run away!
Yes. Fortunately some of us have long memories!
  • #3,489
  • Sep 30, 2020 2:31pm Sep 30, 2020 2:31pm
Took +150 on Dow trade.

Pretty straightforward. The retracement didn't scare me as LH/LL structure was still intact and the 55 channel cushioned the rise nicely. Locked in +100 when I was +150 and then locked in +150 when I was +190. Stop got triggered.

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  • #3,490
  • Sep 30, 2020 5:55pm Sep 30, 2020 5:55pm
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.
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  • #3,491
  • Sep 30, 2020 6:34pm Sep 30, 2020 6:34pm
Hey there, here are two trades selling the Euro against GBP and NZD from today.
Will try to post some trades on a regular basis (hopefully even daily) in the future

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  • #3,492
  • Sep 30, 2020 9:48pm Sep 30, 2020 9:48pm
  •  vrama
  • | Joined Dec 2006 | Status: BE at right place@right time = LUCK | 210 Posts
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Laura, another textbook trade of your RoadMap... normally i set target of 15 to 20 pips, since it is gold little more greedy

thanks for your teachings.
All things are difficult before they are easy.
  • #3,493
  • Oct 1, 2020 1:56am Oct 1, 2020 1:56am
Quoting Nick24
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}
Beauty

Have you analysed why you had a bad month?
  • #3,494
  • Oct 1, 2020 2:08am Oct 1, 2020 2:08am
[quote = LauraT; 13192071] {quote} Postscript: Dopo averlo chiuso, il mercato mi ha ricordato che non ero cosė 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 a little too wide to me. Could you give me a suggestion?
thank you so much
ps: Laura, are you Italian? :-)
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  • #3,495
  • Oct 1, 2020 4:56am Oct 1, 2020 4:56am
Quoting maxymm74
[quote = LauraT; 13192071] {quote} Postscript: Dopo averlo chiuso, il mercato mi ha ricordato che non ero cosė 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...
Ciao No, not Italian.

I'm afraid I've never used zig zag so can't offer any insight. Perhaps someone else uses it and will let you know.

I do think it's good to practice seeing market structure with your own eyes though. It's amazing how quickly it becomes natural to see it without any tools.
  • #3,496
  • Oct 1, 2020 5:01am Oct 1, 2020 5:01am
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 go where it wants?

Or is there anything else to deduce from this?

Because these 11 SL worry me a bit
  • #3,497
  • Oct 1, 2020 5:13am Oct 1, 2020 5:13am
  •  vrama
  • | Joined Dec 2006 | Status: BE at right place@right time = LUCK | 210 Posts
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Another two trades, simple roadmap ...

Why two trades?: 1 regular and second one greed

thanks Laura
All things are difficult before they are easy.
  • #3,498
  • Oct 1, 2020 5:17am Oct 1, 2020 5:17am
Quoting piotrekk2000
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...
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 to enter and exit, you can start to introduce your own judgement and all the other tools such as SMA, double channel, ADR, Yesterday's High/Low etc etc.

One idea might be to now repeat the exercise but only take setups when they are in agreement with SMA bias and RSI value, or something similar. Or, repeat the exercise in terms of when to enter but manage your exits independently.

Hope this helps.
  • #3,499
  • Oct 1, 2020 5:31am Oct 1, 2020 5:31am
Quoting LauraT
{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...

Thank you for your help
This overall result was slightly positive

As you suggest I will now do 20 trades according to SMA and RSI
We will see what the result will be now and SL if they break the SMA 55 channel, because I also noticed that the price often comes back here

I will come back with conclusions
  • #3,500
  • Oct 1, 2020 5:56am Oct 1, 2020 5:56am
Simple channel cross on oil.

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