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  • #3,841
  • Oct 27, 2020 2:37am Oct 27, 2020 2:37am
Quoting btrfx1
{quote} 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...
I do not agree with you that these are elementary questions
I have carefully looked through Laura's thread and I'm learning all the time
The question concerned purely statistical advantage, because it is generally known that some patterns work better, others worse
  • #3,842
  • Edited 3:29am Oct 27, 2020 3:18am | Edited 3:29am
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GM! My trades this mrng! The 1st trades were again naughty and not according to my 20 day test!! I am still working on this discipline thing!!
Then took 2nd trades on LO and 200sma cross and it gave me twice the return of the first loss!! So day 12 out 20 also in plus!!
Target reached so now have to stay away from the PC at least till NYO and if there is a new SMA cross that looks good, i might nibble!!
But knowing myself, it is safer to stay away, so i think i will renew the roof upholstery of old timer Transit bus!!
Wish you all a successful day!!
  • #3,843
  • Oct 27, 2020 7:07am Oct 27, 2020 7:07am
Hey everyone

Just wanted to highlight this trade to remind people that it's possible to apply the methodology on any timeframe. This was a 5m channel failure I took advantage of.

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  • #3,844
  • Edited 9:02am Oct 27, 2020 8:52am | Edited 9:02am
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Hi Laura! I assume that you have zoomed in on your chart to give a better pic; but i do have a Q?
Which USInd chart is that, because if i compare it to mine the distance from 27600 to 27690 is like one candle where on your chart around ten candles??
It is definitely a difference between our brokers, but can it differ so much!! If I trade on my platform, the margin is killing me and on one candle i have the P/L
of your ten candles?? I am sure that I have the cat by the wrong tail somehow and hope that you can help!! Thanks!!
  • #3,845
  • Oct 27, 2020 9:05am Oct 27, 2020 9:05am
Quoting Goyatrade
{image}Hi Laura! I assume that you have zoomed in on your chart to give a better pic; but i do have a Q? Which USInd chart is that, because if i compare it to mine the distance from 27600 to 27690 is like one candle where on your chart around ten candles?? It is definitely a difference between our brokers, but can it differ so much!! If I trade on my platform, the margin is killing me and on one candle i have the P/L of your ten candles?? I am sure that I have the cat by the wrong tail somehow and hope that you can help!! Thanks!!
Ah, sorry for the confusion. I'm trading futures so our prices will be different. In your chart, my entry was later than you've highlighted.
  • #3,846
  • Oct 27, 2020 9:25am Oct 27, 2020 9:25am
Quoting LauraT
{quote} Ah, sorry for the confusion. I'm trading futures so our prices will be different. In your chart, my entry was later than you've highlighted.
Thanks for the answer! Are the spread and margin on futures smaller and easier to trade, because i have compare my chart on Nasdaq to that of Turnip ystrdy,
and the same thing there!!! It can be that with my ignorance, I am trying to trade the complete wrong stuff!! I have to admit that i have no clue of the difference btwn
futures, indices etc, etc!! All i know is that when i trade what i have here, even with the smallest lots that i am allowed to, I get a heart attack when things move just a little bit against me, when i look at the money value!!
  • #3,847
  • Oct 27, 2020 9:44am Oct 27, 2020 9:44am
hi all, micro swings of the day.
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  • #3,848
  • Oct 27, 2020 9:59am Oct 27, 2020 9:59am
Quoting Goyatrade
{quote} Thanks for the answer! Are the spread and margin on futures smaller and easier to trade, because i have compare my chart on Nasdaq to that of Turnip ystrdy, and the same thing there!!! It can be that with my ignorance, I am trying to trade the complete wrong stuff!! I have to admit that i have no clue of the difference btwn futures, indices etc, etc!! All i know is that when i trade what i have here, even with the smallest lots that i am allowed to, I get a heart attack when things move just a little bit against me, when i look at the money...
If small moves are giving you heart attacks, you are definitely trading too large

As you're already at your broker's minimum, check if they do futures contracts and, if so, whether they allow smaller lot sizes. If they don't, it'll have to be a case of finding another broker.
  • #3,849
  • Oct 27, 2020 10:08am Oct 27, 2020 10:08am
Quoting LauraT
{quote} If small moves are giving you heart attacks, you are definitely trading too large As you're already at your broker's minimum, check if they do futures contracts and, if so, whether they allow smaller lot sizes. If they don't, it'll have to be a case of finding another broker.
People might get confused with ( a)"Futures" prices traded via a CFD ( the broker takes the other side of your trade).
or (b)"Futures" ( Futures contracts traded via the likes of TradeStation or AMP Futures -brokerages) prices traded via the likes of a central exchange such as the CME.
every Saint has a past. Every Sinner has a Future
  • #3,850
  • Oct 27, 2020 10:24am Oct 27, 2020 10:24am
Quoting turnip15
{quote} People might get confused with ( a)"Futures" prices traded via a CFD ( the broker takes the other side of your trade). or (b)"Futures" ( Futures contracts traded via the likes of TradeStation or AMP Futures -brokerages) prices traded via the likes of a central exchange such as the CME.
Thanks both of you for the answer!! Its time for me to learn more about this stuff!! I will definitely have a closer look at what my broker offers!!
Might have to come back to you for more advice if I may! The Missus is coming from work soon and then she wants coffee!! So I ---
Wish you all a nice evening!!
  • #3,851
  • Oct 27, 2020 10:25am Oct 27, 2020 10:25am
Quoting Goyatrade
{quote} Thanks both of you for the answer!! Its time for me to learn more about this stuff!! I will definitely have a closer look at what my broker offers!! Might have to come back to you for more advice if I may! The Missus is coming from work soon and then she wants coffee!! So I --- Wish you all a nice evening!!
This is my CFD screen
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every Saint has a past. Every Sinner has a Future
  • #3,852
  • Oct 27, 2020 10:30am Oct 27, 2020 10:30am
Quoting turnip15
{quote} This is my CFD screen {image}
And the left hand side shows (along the top) - primary - Cash and "Futures"
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every Saint has a past. Every Sinner has a Future
  • #3,853
  • Oct 27, 2020 12:24pm Oct 27, 2020 12:24pm
Another successful day on the Roadmap. I actually had an unplanned work from home day today - I probably over traded a little bit as having unrestricted acccess to my charts is a new experience for me. 11 trades, 7 winners between DAX, FTSE and DOW.

2 of my losers were because I just didn't give the trade enough time to develop, and ended up taking a loss and getting back shortly afterwards for a win. One I had let the the trade turn around and head all the way back to break even and the last I was just plain wrong to be in it - but all in all I'm happy with my days work.

Also managed to watch/listen to Mark Douglas' 4 part Youtube presentation - which was a nice bonus.

My two biggest struggles seem to be 1. Letting the trade run and 2. Knowing when to take profit. Both of which seem pretty linked to each and are skills I'm hoping will develop with time. I did the 20 trades exercise with 1:1 RR which was nice because I didn't have to worry about those things, but I could see in many trades how much money was being left on the table.

Has Laura or anyone else any suggestions to tackle my (trading) issues?
  • #3,854
  • Oct 27, 2020 12:56pm Oct 27, 2020 12:56pm
Quoting lebollix
Another successful day on the Roadmap. I actually had an unplanned work from home day today - I probably over traded a little bit as having unrestricted acccess to my charts is a new experience for me. 11 trades, 7 winners between DAX, FTSE and DOW. 2 of my losers were because I just didn't give the trade enough time to develop, and ended up taking a loss and getting back shortly afterwards for a win. One I had let the the trade turn around and head all the way back to break even and the last I was just plain wrong to be in it - but all in all I'm...
Well done - a day of profit and Mark Douglas is a day well spent

If your only issue is being impatient with losing trades, that's actually a positive rather than a negative. If it's a more general impatience/tension, try to identify what sorts of feelings are coming to the surface. As Mark Douglas would put it, are you trading with fear?

The trade which went back to breakeven - does it feel problematic or was it just how price action unfolds sometimes?

If you feel you let too much profit slip out of your grasp, you have tools you can make use of to remedy that. For example, some traders who struggle to let trades develop take partial profits at either a logical place on the chart or at a defined pip/points value. That's an option for you to avoid a breakeven result when in profit.

Another option is to have a + n approach, with n being a defined minimum profit you will look to extract from a trade. For example, if you are 50 points ahead on an index move, you could have a rule that says you will lock in +15. If profit goes to 70 points you could lock in +35 etc etc. That way, even a trade turns around on you, you still get paid a little for the fact you were right with the direction.

Of course, it could be the other emotion at play - greed. If that's the case, the remedy mainly involves having a hard talk with yourself

In general i'm not a huge fan of the breakeven stop, unless some profit has been banked from the move already.

Hope this helps, but feel free to give more specifics if required and I'll answer.
  • #3,855
  • Oct 27, 2020 3:24pm Oct 27, 2020 3:24pm
Dax this afternoon. This is why we use SMA200

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  • #3,856
  • Oct 27, 2020 4:32pm Oct 27, 2020 4:32pm
I've been playing around with the 4 hour and daily charts looking at trading the higher timeframes. I cannot seem to get the Previous Daily High/ Low and ADR high/ low to display correctly on H4/ Daily. Does anyone else have this issue? On H4 the previous daily high/ low doesn't appear at all.

Wondering if its the broker data? Any help would be greatly appreciated.
  • #3,857
  • Oct 27, 2020 9:31pm Oct 27, 2020 9:31pm
Quoting L1ghtning
I've been playing around with the 4 hour and daily charts looking at trading the higher timeframes. I cannot seem to get the Previous Daily High/ Low and ADR high/ low to display correctly on H4/ Daily. Does anyone else have this issue? On H4 the previous daily high/ low doesn't appear at all. Wondering if its the broker data? Any help would be greatly appreciated.
It would be problematic on the D1, as the daily high low and daily average would have to display on every bar. However as you say, the daily high low does not display on the H4 timeframe, I guess for the same reason as the D1. Works on the H1 if that helps!
Good Trading
  • #3,858
  • Oct 28, 2020 1:29am Oct 28, 2020 1:29am
Quoting LauraT
Dax this afternoon. This is why we use SMA200 {image}
Hi Laura,
A perfect example of your Rule and Roadmap---If I was looking over your shoulder yesterday I bet I would have seen the Dow Futs in your screen setup as well----$$$$$$ to you young lady.

How did you colour the MA's and add the dashed MA?--or did you swing into an Indicator?

Kind regards
Ben
  • #3,859
  • Edited 2:24am Oct 28, 2020 2:12am | Edited 2:24am
Attachment gThis is todays!! Just as i opened the chart, this crossover presented!! Took the first trade on impulse and then the second on a retrace!!
That means another day of my exercise in plus!! I am tempted to trade more in the day, but am not sure if i will be at PC when the next crossover presents!!
I have to force myself to keep to the exercise with discipline, but i am making progress!! If i have time, i might do some back testing!!
I have a feeling the dax is going to drop more, but i have been wrong so many times that i will not take a gamble!!
Wish you guys a successful day!
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  • #3,860
  • Oct 28, 2020 2:53am Oct 28, 2020 2:53am
Quoting LauraT
{quote} Well done - a day of profit and Mark Douglas is a day well spent If your only issue is being impatient with losing trades, that's actually a positive rather than a negative. If it's a more general impatience/tension, try to identify what sorts of feelings are coming to the surface. As Mark Douglas would put it, are you trading with fear? The trade which went back to breakeven - does it feel problematic or was it just how price action unfolds sometimes? If you feel you let too much profit slip out of your grasp, you have tools you...
Thanks for the reply Laura! When I started to get into trading, I read everywhere that Psychology was the number one part, I was kind of dismissive and figured a good strategy would do the job. These past months, I am 100% confident in the Roadmap strategy - but I can see more and more that Psychology will be what makes or breaks me!

I'm not afraid of losing a trade that I enter, but when I make enough progress I definitely have a fear of losing that progress, if that makes sense. It's definitely a fine balancing act between Fear of Loss and greed - and knowing the right amount of greed to have.

I think your suggestion of partial profit taking and defined profit points is the way forward for me. I'm still in this trade on the DAX from this morning, taking half my position off towards the low and moving my SL to the red line to see if London open will bring me anymore joy. If I'm stopped out I'm happy with my result. Back to the office today so will only have FX to look at throughout the day to see if there's anything appealing.

Thanks again for the help.
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