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Roadmap - A Way To Read Markets

  • #3,821
  • Oct 25, 2020 1:41pm Oct 25, 2020 1:41pm
Quoting Loztrader
{quote} Great cheers for this I'll set it all up when I get home , should be a good week for trading as the Americans vote !
Hi Loz,
I use TradingView with the indicators kindly provided by freeman03. For me however, the ADR lines do not display until Monday evening at 10pm (GMT). Maybe this is also what you’re experiencing?
The ADR figure is displayed and the lines can be calculated by adding/subtracting from the daily high/low. This only happens on Mondays and works fine for the rest of the week.

I’ll also have a look later at the indicators MozzChops has linked to. They look good so thanks for that.
  • #3,822
  • Oct 25, 2020 3:08pm Oct 25, 2020 3:08pm
Quoting StrandedBill
{quote} Hi Loz, I use TradingView with the indicators kindly provided by freeman03. For me however, the ADR lines do not display until Monday evening at 10pm (GMT). Maybe this is also what you’re experiencing? The ADR figure is displayed and the lines can be calculated by adding/subtracting from the daily high/low. This only happens on Mondays and works fine for the rest of the week. I’ll also have a look later at the indicators MozzChops has linked to. They look good so thanks for that.
Ahh ok Mozzchops are clean but the chart shrinks when you change to different currency causing you to have to scroll out all the time whilst going through charts, im wondering if everyone has the same problem.
  • #3,823
  • Oct 25, 2020 3:23pm Oct 25, 2020 3:23pm
Quoting Loztrader
{quote} Ahh ok Mozzchops are clean but the chart shrinks when you change to different currency causing you to have to scroll out all the time whilst going through charts, im wondering if everyone has the same problem.
Right-click the scale, and tick "Scale price chart only" ?
A fool and his money are easily parted
  • #3,824
  • Oct 25, 2020 3:28pm Oct 25, 2020 3:28pm
Quoting MozzChops
{quote} Right-click the scale, and tick "Scale price chart only" ?
You're a diamond mozzchops forever greatful
  • #3,825
  • Oct 25, 2020 3:35pm Oct 25, 2020 3:35pm
Quoting Loztrader
{quote} You're a diamond mozzchops forever greatful
One thing to take note of with my code is the RSI. I believe Laura's is "live" and repaints. Mine by default doesn't repaint and will only update on a new bar on the timeframe. If you prefer the repainting "live" RSI its in the settings.
A fool and his money are easily parted
  • #3,826
  • Oct 26, 2020 3:57am Oct 26, 2020 3:57am
Quoting LauraT
{quote} Hi Continuation trades can be very lucrative if handled properly. However, you've reached an interesting conclusion about entries that are far from SMA200. I would suggest completing the exercise again, but this time entering only when SMA200 is relatively near. Once you complete this exercise, you should be ready to demo the strategy as a whole, using your own judgement. But it's perfectly fine to have preferences about the types of setups you will take. For example, you might decide you are only going to take channel crosses to...

Thank you very much for the suggestions
Of course, it will repeat the trend continuation as you suggest
I will keep you informed about the progress
  • #3,827
  • Oct 26, 2020 4:14am Oct 26, 2020 4:14am
Hi
Do any of you keep statistics that would help determine which type of inputs is the most effective?
Is the entrance under the channel , in the channell or above the channel 8?
  • #3,828
  • Oct 26, 2020 7:03am Oct 26, 2020 7:03am
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GM all!! I missed the big move and it as actually not the SMA cross that i was looking for in my 20day test! The cross did not come later, so decided to to nibble at the sma refusal!! The first one did not work mainly of the crucial resistance level at 12350 on DAX!! (200ema on Daily TF) Took the second refusal and TP when i had target for the day!
Got some errands to do, so will only trade tmrw again!! (Dont like Mondays anyway)
Wish all a great day!!
  • #3,829
  • Oct 26, 2020 7:39am Oct 26, 2020 7:39am
Quoting Goyatrade
{image}GM all!! I missed the big move and it as actually not the SMA cross that i was looking for in my 20day test! The cross did not come later, so decided to to nibble at the sma refusal!! The first one did not work mainly of the crucial resistance level at 12350 on DAX!! (200ema on Daily TF) Took the second refusal and TP when i had target for the day! Got some errands to do, so will only trade tmrw again!! (Dont like Mondays anyway) Wish all a great day!!
That true trend indi looks good, can I try it out? Thank you for the post
  • #3,830
  • Edited 9:29am Oct 26, 2020 9:18am | Edited 9:29am
Hi ! I have been going through the thread for a week now, trying to study as much as i can and trying to apply it on instruments in my watchlist.

Very happy about this strategy as it is helping me find where price is going.
Also, every once in a while it gives super awesome directional setup.

But when forward testing/paper trading, i am still struggling to decide which entries to trade and which to skip
Here is 5min chart of Banking index, heavily traded index future in India. (Good volumes)
I have tried to mark entries for last 3 day's price work.
my first question is - are these entries valid ? some got chopped out, but we can't know that while entering..

my last question is - is there any way to filter some of these entries ?

Thanks !
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  • #3,831
  • Oct 26, 2020 10:25am Oct 26, 2020 10:25am
Quoting jayawantv
Hi ! I have been going through the thread for a week now, trying to study as much as i can and trying to apply it on instruments in my watchlist. Very happy about this strategy as it is helping me find where price is going. Also, every once in a while it gives super awesome directional setup. But when forward testing/paper trading, i am still struggling to decide which entries to trade and which to skip Here is 5min chart of Banking index, heavily traded index future in India. (Good volumes) I have tried to mark entries for last 3 day's price work....
Welcome

Were they all entries or were they entries and exits?

In terms of filters, I'm currently evaluating a few candidates for the role of helping newer roadmap traders stay away from low probability trades. Might have more to say on the subject soon.
  • #3,832
  • Oct 26, 2020 11:24am Oct 26, 2020 11:24am
UK afternoon Nasdaq. Missed early longs from the open because I always think the open can be violent and unpredictable ( as far as anything is 'predictable' in trading).
The last trade ( long) - not shown) - will be a loser I think.
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every Saint has a past. Every Sinner has a Future
  • #3,833
  • Oct 26, 2020 12:10pm Oct 26, 2020 12:10pm
Quoting LauraT
{quote} Welcome Were they all entries or were they entries and exits? In terms of filters, I'm currently evaluating a few candidates for the role of helping newer roadmap traders stay away from low probability trades. Might have more to say on the subject soon.
Thanks !
All marked as entries. My expectation from these trades is 100 points for quick scalp. could stay upto 300-400 points if price continues.
  • #3,834
  • Oct 26, 2020 12:16pm Oct 26, 2020 12:16pm
Quoting jayawantv
{quote} Thanks ! All marked as entries. My expectation from these trades is 100 points for quick scalp. could stay upto 300-400 points if price continues.
You are entering close to SMA200 while RSI is around 50. You will eventually catch a runner doing this, but the chop might eat you first.

I would advise waiting until RSI is above 55/60 for longs or below 45/40 for shorts. The best to filter out those choppy trades is to be mindful of the RSI number.
  • #3,835
  • Oct 26, 2020 12:37pm Oct 26, 2020 12:37pm
Quoting LauraT
{quote} You are entering close to SMA200 while RSI is around 50. You will eventually catch a runner doing this, but the chop might eat you first. I would advise waiting until RSI is above 55/60 for longs or below 45/40 for shorts. The best to filter out those choppy trades is to be mindful of the RSI number.
Thanks a lot ! I will work on this.
  • #3,836
  • Oct 26, 2020 12:54pm Oct 26, 2020 12:54pm
Nice enough start to the week - 2.5 winners and 1 loser! I took two scalps on the DAX at Frankfurt opening. I really like how the DAX behaves, but due to work commitments I can't trade it where most of the action is - I've a day off tomorrow so I'll see if I can catch any of it's big moves. Looking back at these trades, I probably should have just stayed in the first trade and trusted the move downwards - my fear of loss is definitely something I need to improve on:
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Took a trade on EURAUD, thinking it would reach previous high for a quick profit before heading out the door - nearly got there and turned around spectacularly. Looking back I should have paid more attention to the ADR high, was possibly a little late getting in - but I was feeling confident after success on the DAX and figured I'd get something out of it:
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Got into work and it was a bit quite so I after a bit of scouting took a trade on GBPCAD. Taking half my position off at previous high and moving the stop, aimed for more and didn't get back to the trade until it was stopped out (work got busy) - still 30 pips in the bag so not really complaining:

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All in all I'm happy with the day that was in it and very happy with the Roadmap. So far running at a 66% Winrate and having definitely learned from some of my losers.
  • #3,837
  • Oct 26, 2020 4:22pm Oct 26, 2020 4:22pm
Hi all,

Was involved in a trade earlier on, price rejected the 200sma it rose but then dropped straight back down and stopped me out, 2 things i should of gave my trades stop loss more buffer i usually go to 20 pips as standard but with using the 200 sma you are always open to price reversing and testing again so ill use the ATR indicator 10+ and hopefully this will work a treat and not stop me out so soon but we move.
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  • #3,838
  • Oct 26, 2020 9:06pm Oct 26, 2020 9:06pm
Quoting piotrekk2000
Hi Do any of you keep statistics that would help determine which type of inputs is the most effective? Is the entrance under the channel , in the channell or above the channel 8?
Quoting jayawantv
my last question is - is there any way to filter some of these entries ? Thanks ! {image}
I really like the trades below. They seem to work well when coupled with the basic RoadMap rules and even better when you start to add confluences. Assuming the post doesn’t get removed I will add examples of others. You can also look at my previous posts. I will message Laura on how I use an oscillator to help filter trades and let her deiced if it’s worth sharing. And of course if this gets removed that will answer the question.

Trades
200 cross (Laura often mentions however I usually wait for a retrace to the 200 or the 50 listed below)
200 cross and bounce off the 50 (Laura uses the 55EMA bands)
1-2 punch (Double top/Bottom)

Confluences
Support, resistance
Previous High/Low of the day or week
Day open
Divergence
Candle stick pattern/Price Action
Psychological levels
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Off to bed for a whopping 3 hours of sleep!!!!
  • #3,839
  • Oct 26, 2020 10:19pm Oct 26, 2020 10:19pm
Quoting ChubbyWookie
{quote} {quote} I really like the trades below. They seem to work well when coupled with the basic RoadMap rules and even better when you start to add confluences. Assuming the post doesn’t get removed I will add examples of others. You can also look at my previous posts. I will message Laura on how I use an oscillator to help filter trades and let her deiced if it’s worth sharing. And of course if this gets removed that will answer the question. Trades 200 cross (Laura often mentions however I usually wait for a retrace to the 200 or the 50 listed...

Hi Chubby,
In support of your post, I agree that some folk here are asking questions that indicate insufficient knowledge by asking elementary questions

As you say above there is a basic set of rules for the Roadmap.

I wonder how many people have looked at, and--UNDERSTAND Lauras Journal, beginning at Section ONE thru to Section FIFTEEN.

This an extract from section 14---The second step is to establish a new routine. To enact change, repetition is key. Establish what you want and then map out what you have to do to get there. Returning to habits for a second, it's thought that it takes on average 66 days to form a new habit. Are you committed enough to change to stick with a new routine for over two months? When I started 'training' a group of traders from FF 5 months ago they had only fundamental knowledge of my strategy and only my word that it would be profitable. 5 months on, there are now profitable traders. Why? Because they formed new habits and because they created a routine to establish change. I'm sure some of them thought of quitting during those first two months but those who are now profitable stuck with it.

IMHO The Golden Nugget that will answer any questions a budding trader could possibly think of:-

Quoting section 15, last paragraph
"Quote----I understand many will read this post and decide it's all too much effort. And that's fine. But, for those who want to invest in their futures and aim to become consistently profitable traders, I highly encourage this approach or one like it." End Quote

You wanna be successful trader---Follow a successful one.

Kind regards
  • #3,840
  • Oct 27, 2020 2:33am Oct 27, 2020 2:33am
Quoting ChubbyWookie
{quote} {quote} I really like the trades below. They seem to work well when coupled with the basic RoadMap rules and even better when you start to add confluences. Assuming the post doesn’t get removed I will add examples of others. You can also look at my previous posts. I will message Laura on how I use an oscillator to help filter trades and let her deiced if it’s worth sharing. And of course if this gets removed that will answer the question. Trades 200 cross (Laura often mentions however I usually wait for a retrace to the 200 or the 50 listed...

Hi
You've shown it in a very cool way
Thank you
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