Micro swings of the day, looking back my trades in account history I see that most of my winners came around the LO and NYO +- zone (no s.. Sherlock), and the late 90 minutes before NY close, have a nice week all. 
Roadmap - A Way To Read Markets
- #3,783
- Oct 19, 2020 9:07am Oct 19, 2020 9:07am
- Joined Sep 2006 | Status: Trader | 10,704 Posts
every Saint has a past. Every Sinner has a Future
For anyone interested in higher time frames.
Here's a channel cross, short trade I took on the 1HR timeframe and held onto for a few days. AUDUSD.
I closed it today when a higher high was formed just before the price fell away
. I was still relatively happy with management, but I would probably have closed it when price broke the previous days high, had it not happened in the early hours of this morning.
I've also been trying out the 4hr timeframe where I can definitely manage trades more effectively but it's so dull
Here's a channel cross, short trade I took on the 1HR timeframe and held onto for a few days. AUDUSD.
I closed it today when a higher high was formed just before the price fell away
. I was still relatively happy with management, but I would probably have closed it when price broke the previous days high, had it not happened in the early hours of this morning.I've also been trying out the 4hr timeframe where I can definitely manage trades more effectively but it's so dull
Was going to post this earlier, but site was down, thankfully back online now. Question for the Pro's if I may, on the EURUSD trade below, is the magenta coloured momentum line technically a trendline as its had 3 touches and the candles respected it? On breakout of the trendline, is it expected market behaviour to retest it, thus getting in at a slightly lower and more optimal entry point? {image}
How I was looking at the setup this morning
Here is my trade this morning. I used the roadmap to add to my longer term position. We will see how it plays out tomorrow
- #3,788
- Edited 1:30pm Oct 21, 2020 9:47am | Edited 1:30pm
I wanted to take this opportunity to say Thanks Laura!!! for the underlying concept of this roadmap.
I've been following this thread couples of months and been live trade the system itself for about 3 months.
Although I've altered with some minor parameter changed (EMA8 to LWMA10) but the main concept still 100% original.
my time frame normally within m5 to m30 for intraday. Usually for every setup, I'll grow from 5usd to (10 to 15)usd ... some day I loose, someday it will triple and some day it will double, everyday the profit I'll withdraw and keep remain 5usd as capital when I start new trade day.. At the end of the these 3 months the return are big enough for me to cover my expenses (subjective for every person).
Today mark as a history coz its the day I'm upgrading the account size from 5usd daily into 10usd daily.. I will review this capital every 3 months basis from now on. My objective is to have capital appreciation over 5 years. From 5usd initially into some figure (which enough for me to risk 2% only). I'm still not sure what will happen along the journey but if Ill make it, I will definitely update it here in 2025.
how i start small is by using smaller timeframe, I start with major currencies until I've grown into 50bucks. Now I started to trade commodities.
Below is my portfolio for today.
went long for gold after its upper triangle has broken. Price bounced from previous HIGH, that's a sign for me to go long. I exited at recent previous high @ S&R on the left.. then reentry with new position since RSI still good above 60 and ADR high still have a room. Price went couple of pips and I've secured the BEeven levels since this is my additional bonus entry, so I don't mind if it hit my BE.
My position sizing is high relatively to my Risk % due to I'm willing to loose 10usd daily. If I loose 10usd.. then I will stop trade for the whole day. That is how I manage my emotion. All my trades are set and forget. But always entry 1 position at a time. I cant redundantly trade many pairs, my subconscious mind is not ready for that. I do look once hourly for trade management (to adjust BE levels if necessary).
Wishing you Laura all the success and happiness!
I've been following this thread couples of months and been live trade the system itself for about 3 months.
Although I've altered with some minor parameter changed (EMA8 to LWMA10) but the main concept still 100% original.
my time frame normally within m5 to m30 for intraday. Usually for every setup, I'll grow from 5usd to (10 to 15)usd ... some day I loose, someday it will triple and some day it will double, everyday the profit I'll withdraw and keep remain 5usd as capital when I start new trade day.. At the end of the these 3 months the return are big enough for me to cover my expenses (subjective for every person).
Today mark as a history coz its the day I'm upgrading the account size from 5usd daily into 10usd daily.. I will review this capital every 3 months basis from now on. My objective is to have capital appreciation over 5 years. From 5usd initially into some figure (which enough for me to risk 2% only). I'm still not sure what will happen along the journey but if Ill make it, I will definitely update it here in 2025.
how i start small is by using smaller timeframe, I start with major currencies until I've grown into 50bucks. Now I started to trade commodities.
Below is my portfolio for today.
went long for gold after its upper triangle has broken. Price bounced from previous HIGH, that's a sign for me to go long. I exited at recent previous high @ S&R on the left.. then reentry with new position since RSI still good above 60 and ADR high still have a room. Price went couple of pips and I've secured the BEeven levels since this is my additional bonus entry, so I don't mind if it hit my BE.
My position sizing is high relatively to my Risk % due to I'm willing to loose 10usd daily. If I loose 10usd.. then I will stop trade for the whole day. That is how I manage my emotion. All my trades are set and forget. But always entry 1 position at a time. I cant redundantly trade many pairs, my subconscious mind is not ready for that. I do look once hourly for trade management (to adjust BE levels if necessary).
Wishing you Laura all the success and happiness!
Novice Trader
{quote} I viewed that area more as a consolidation range. Which i supposes is a sideways trend. Below is how i viewed the EU this morning. Interesting how different our views were but essentially got the same result How I was looking at the setup this morning {image} Here is my trade this morning. I used the roadmap to add to my longer term position. We will see how it plays out tomorrow {image}{image}{image}
- #3,795
- Oct 22, 2020 10:14am Oct 22, 2020 10:14am
- Joined Sep 2006 | Status: Trader | 10,704 Posts
every Saint has a past. Every Sinner has a Future
- #3,798
- Edited 2:50am Oct 23, 2020 2:39am | Edited 2:50am
Wish you guys a great weekend and stay healthy!!