Roadmap - A Way To Read Markets

Turnip and 1odi,
Thanks for the advice and concern, really appreciated BUT, The exercise that i do now is channel cross sma only!! And if i read it correctly one should choose a time to trade and a 1:1 RR and not touch the SL or TP!! I have decided on a 15pst SL and TP and after the initial trade was successful i was watching the market moving, but acc to the rule i had to wait for a new crossover!! So i marked trades that i would have taken had i not been in the exercise!!
The exercise is important to me at this stage, because i really suffer of this "have to be in a trade" syndrome and i have to break it somehow!! I have to force myself to keep to the exercise !!
Turnip; Thanks for reminding me of the speed lines!! I have read about it and then never thought about it again!! Will study again!!

Wish you guys a nice evening!!

Me again Thought I would share some winners of todays trading:

EU short (M5)

Oil short (M5)

GJ short (M5)

Oil long (M1)

Nasdaq -hesitant maybe but got a few pips to make it worthwhile. Could have got more but followed my marked up lines more faithfully. Could be argued that I could have traded channel better but hindsight is wonderful

Hi Goyatrade

I know Laura is a big fan of Mark Douglas, so hopefully she won't mind me posting a link to the video I referred to in my last post (@Laura, hope this is OK):



He talks about the exercise - I found it very useful in addition to reading Laura's journal. You can start to relate her trading psychology to Mark.

EDIT: Just to add there are four parts to the whole session - I would highly recommend watching all four! Really good content.

Thank you for the video. So powerful and really helpful.

A couple of trades on Dow. First was entered after price cleared Daily Open Line and Yesterday's High. Added to position when move started to accelerate.

Nasdaqpm -not a bad afternoon. Enjoy your week end all.
The Question mark might have been an attempt at closing the gap below but I wasn't willing to trade the gap . So I waited and the long set up.

My daily trading started late, the last hour of the week, few scalps
with Roadmap, have a nice weekend all.

Hi Folks,

Long time lurker, first time poster! I just want to say thanks very much to Laura for sharing this strategy - I'm a relatively new trader and your posts have really helped me a lot. There is definite room for improvement on my end, but I genuinely believe the Roadmap gives me the tools needed to make those improvements. @LauraT if there's any room opening up in your slack group I would be honored with an invite!

4 trades took yesterday, 2 wins 2 losses:

GPBNZD:

I supposed I was maybe a bit late to get in, but things were going well enough until Brexit news came out and took me out in impressive style. Not really much I could have done about it I suppose!



USDJPY:

Had entered this trade roughly the same time as the GBPNZD trade. Looking back at it now, I probably should have waited to see whether the Bearish momentum would push through the longer-term Bullish momentum. Once GBPNZD went against me, I was anxious to reduce anymore losses and bailed out close to 1pm. I possible could have changed direction and went with the trend, but in work I can either have lots of screen time or no screen time - so I do miss opportunities from time to time. I'm trying to remedy this by doing my analysis early in the morning so I'm familiar with what the landscape is like before I go to work and hopefully be better prepared if opportunity presents itself.



Work got a lot quiter later in the day, so allowed me to go back to the charts to see what was out there. First opportunity to present itself was a long on the Nas. Bit choppy at first but went my way in the end, taken out by moving my stop up along the trend:



Shortly afterwards, a spotted an opportunity on the DAX. Took partial profits at the average range and let the rest run until been taking out by trailing my stop loss:



Looking back at both indices trades, there was definite opportunity to scale in - I hopefully will be more aware of such going forward. As they say, everyday's a school day! Thanks again to Laura and everyone else who posts on this thread - I've learned so much in a short time. I'm around 90 pages in from the start and have been keeping up with the thread since the start of October - hopefully will have it fully read by the end of the week!

Cheers

Excuse me,where you find the brexit news? I didn't find it in Forex factory calendar.

It wasn't planned news as such - It was a comment from the UK's Brexit negotiator saying there wasn't a basis for a deal, causing a big spike across GBP pairs.

Writing a brief guide to setting up a trading plan. Should be posted to my journal tomorrow. Hope everyone is having a good weekend

A bit of DAX action before work. Taken out of my first trade by moving my stop loss up. Decided to take the short after crossing under the SMA 200, was proven wrong after a while. Went long after being proved wrong, massive spike and taken out by moving my stop loss again. I guess I got a bit lucky, I should probably relax a bit with moving my stop loss - but happy enough with the result and my emotions throughout.

GM! Typical example of breaking the rules!!!! Had too many shorts open and did not bail when everything said I should!!! Then wanted to hedge or trying something that i read . but made a nice mess of it!! The damage is not big, but lesson well learned!!
Day 6 of 20 not successful and with price hanging around the 13000 mark, I will wait for another opportunity!!
Maybe the lesson is to not trade before the LO and one hour after!!
Looking forward to Laura`s post on Trading plan!
Wish you all a good day!! Stay healthy!!

New Journal Post - Trade The Plan

https://www.forexfactory.com/thread/...7#post13220367

Good morning and thanks Laura!!
Ever thought about writing a book for beginners??
With your writing style it might easily become a best seller!!
Have a great day!

Had a bit of a sweat on these two, but as you said once, the trades were still valid and turned out good eventually!!
So trade 7 of 20 was successful!!

Actually, the thought has struck me! It's a question of finding the time in among my trading and other commitments. Maybe one day

That's what ghost writers are for, lol.