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Roadmap - A Way To Read Markets

  • #3,901
  • Nov 2, 2020 7:15am Nov 2, 2020 7:15am
Quoting LauraT
{quote} Remove (b) from your rules. Price doesn't have to close inside the channel from below. Therefore, lots of potential entry points inside the channel if you wish to get long. Hope this helps.
Thanks ! sure it helps. will work on this.
  • #3,902
  • Nov 2, 2020 10:33am Nov 2, 2020 10:33am
For those of you who trade indices or futures on the M01 timeframe, we use a faster version of the RSI composite. I updated an indicator called RoadMap Trend Band originally posted to this thread by Indalico on June 3rd. The formula I used to calculate the RSI Composite is an average of the RSI 2 & RSI 9 for the periods M15 & M60. I do not recommend this RSI Composite for FOREX pairs.
My updated indicator also allows you to choose the window in which it will appear. If you want the indicator to appear in the main (chart) window, select window 0 on the input page.
Attached File(s)
File Type: ex4 RoadMap Trend Band_Indices_SubWindow.ex4   18 KB | 496 downloads
File Type: mq4 RoadMap Trend Band_Indices_SubWindow.mq4   13 KB | 596 downloads
  • #3,903
  • Nov 2, 2020 11:12am Nov 2, 2020 11:12am
Nasdaq(Tech100) chart for UK afternoon. Markups from left prior to 2:30pm. Look at price action around those lines(tails etc), around the 200ma and Laura's price popping below or above channel as per her "20" exercise. Add some speed lines -not shown.
A nice day.
Attached Image (click to enlarge)
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every Saint has a past. Every Sinner has a Future
  • #3,904
  • Nov 2, 2020 1:06pm Nov 2, 2020 1:06pm
Couple of Dow shorts I just closed.

Attached Image (click to enlarge)
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  • #3,905
  • Nov 2, 2020 11:25pm Nov 2, 2020 11:25pm
Hi Laura,

Please see this image I got it from your old post in this thread.
Can you please let me know that the two red circles are a valid trade setup or not? why don't you take a trade there?

Thank you in advance
Attached Image (click to enlarge)
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  • #3,906
  • Edited 2:51am Nov 3, 2020 2:35am | Edited 2:51am
Attached Image (click to enlarge)
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GM all!! Could not trade ystrdy! Am still in the 20day exercise and todays trades are BE!! I should not have taken the first trade on the LO open!!
Have learned the lesson and decided to not trade the first 15 mins (red square) Sofar had 11 out of 14 days successful, but i have a problem with my timing!!
I cannot be at the PC at every sma crossing and its pretty boring to wait for the next!!
So have decided to switch to the other exercise on the 8ema channel, when i have time to spend at the charts!!
The times will be from 07h00 GMT to just before LO and then maybe again around 16h00 GMT!!
Closing all trades once i am either 2% in plus or minus!! Wish you all a great day!!
  • #3,907
  • Nov 3, 2020 4:06am Nov 3, 2020 4:06am
Dax Uk morning. Lines before 8am govern action plus keeps you out of whip etc ( most times). Nursing a short at the moment watching area around 12000 like a hawk. will bail if goes green to keep me pennies made. nearly time to stop for morning.

EDIT: My first trade was a bit late. Thought I would wait for a pull back which put me in later. Swings and roundabouts I suppose. Works sometimes and sometimes not?
Attached Image (click to enlarge)
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every Saint has a past. Every Sinner has a Future
  • #3,908
  • Nov 3, 2020 6:07am Nov 3, 2020 6:07am
Quoting naruponk
Hi Laura, Please see this image I got it from your old post in this thread. Can you please let me know that the two red circles are a valid trade setup or not? why don't you take a trade there? Thank you in advance {image}
I would not have entered there as the market was still showing bullish momentum. Remember to use trendlines to highlight when momentum is likely to change.
  • #3,909
  • Nov 3, 2020 6:16am Nov 3, 2020 6:16am
Quoting LauraT
{quote} I would not have entered there as the market was still showing bullish momentum. Remember to use trendlines to highlight when momentum is likely to change.
Thank you Laura
  • #3,910
  • Nov 3, 2020 9:12am Nov 3, 2020 9:12am
Nasdaq UK afternoon. How about this for hesitation and nervousness. I held off entering until the arrow thus missing earlier possible entries. I suppose I like a little consolidation before trading. If I had used Laura's break of 8 channel I could have got in earlier. So I might run dummy trades alongside my actuals?
Attached Image (click to enlarge)
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every Saint has a past. Every Sinner has a Future
  • #3,911
  • Nov 3, 2020 12:31pm Nov 3, 2020 12:31pm
Hi all and especially Laura T

Do you ever post live trades/calls? would be great to see you do that.


ps, anyone does not like my question do not bother to answer or comment.
Follow The Markets Structure - Patience and Discipline
  • #3,912
  • Nov 3, 2020 1:08pm Nov 3, 2020 1:08pm
Quoting pipfarm
Hi all and especially Laura T Do you ever post live trades/calls? would be great to see you do that. ps, anyone does not like my question do not bother to answer or comment.
Hi,

I doubt I've posted many, if any, on FF as I don't believe it's a particularly helpful idea or effective use of my time.

The purpose of the thread is to teach a methodology, and then step back and give feedback, in order that others can take the bare bones and use them to turn the strategy into something that works for them.

I do discuss my open trades elsewhere but don't ever envisage doing so here.
  • #3,913
  • Nov 3, 2020 2:20pm Nov 3, 2020 2:20pm
Quoting turnip15
Nasdaq(Tech100) chart for UK afternoon. Markups from left prior to 2:30pm. Look at price action around those lines(tails etc), around the 200ma and Laura's price popping below or above channel as per her "20" exercise. Add some speed lines -not shown. A nice day. {image}
This is brilliant!
  • #3,914
  • Nov 3, 2020 5:15pm Nov 3, 2020 5:15pm
Quoting pipfarm
Hi all and especially Laura T Do you ever post live trades/calls? would be great to see you do that. ps, anyone does not like my question do not bother to answer or comment.
No comment.
All you touch and all you see, is all your life will ever be.
  • #3,915
  • Nov 4, 2020 12:51am Nov 4, 2020 12:51am
Quoting LauraT
{quote} I would not have entered there as the market was still showing bullish momentum. Remember to use trendlines to highlight when momentum is likely to change.
Afternoon Laura,
The markets are wild and Laura's comment on Trend/Speed lines is extremely relevant right now as we respond to every news announcement out of USA--I have watched the US market all day and providing I have a long enough look back/time frame there ARE OPPORTUNITIES, BUT DO NOT BLINK OR YOU MIGHT BE HANDED UR ass ON A HOT PLATE
Attached Image (click to enlarge)
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For comaprison only this is the ADX I use.

Watching and waiting now as next few hours are likely to be difficult to trade, and I am the chef tonight Nup not Kanga steaks but WAYGU---

Ben
  • #3,916
  • Nov 4, 2020 1:56am Nov 4, 2020 1:56am
I'll likely be doing lots of sitting on my hands today, and/or trading markets I don't normally trade (for obvious reasons).

But I couldn't resist one final short on the Dow. I was only in the trade for 13 minutes and used a 32-tick chart. +118

Please all be careful out there this week. Uncertainty in the political sphere will make the markets jumpy.

Attached Image (click to enlarge)
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  • #3,917
  • Nov 4, 2020 2:56am Nov 4, 2020 2:56am
Quoting sr2
{quote} This is brilliant!
Not really. Sometimes they work and sometimes not. Stops are important though.
every Saint has a past. Every Sinner has a Future
  • #3,918
  • Nov 4, 2020 3:31am Nov 4, 2020 3:31am
Late on Dax today but took break of 200
Attached Image (click to enlarge)
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every Saint has a past. Every Sinner has a Future
  • #3,919
  • Edited 7:58am Nov 4, 2020 4:41am | Edited 7:58am
Here is a trade I never took as I was given a job by Mrs T. It was a break of the 8ma channel below the 55ma channel and above 200ma And price didn't come back on my trigger bar which acts as a stop. First bar to right of arrowed bar triggers me in.
Edit: You could argue that you could have got in above the 55ma channel ( at the 8ma channel break low where price dips below the 8ma channel), a la Laura 20 test, but I try to put a few things in my favour first. Would be interesting if one of you young techie people could simply look at break of 8ma only with or without 200ma influence?
Attached Image (click to enlarge)
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every Saint has a past. Every Sinner has a Future
  • #3,920
  • Nov 4, 2020 6:48am Nov 4, 2020 6:48am
Quoting turnip15
Here is a trade I never took as I was given a job by Mrs T. It was a break below 8ma and below 200ma And price didn't come back on my trigger bar which acts as a stop. First bar to right of arrowed bar triggers me in. Edit: You could argue that you could have got in above 200ma where price dips below channel , a la Laura 20 test, but I try to put a few things in my favour first. Would be interesting if one of you young techie people could simply look at break of 8ma only with or without 200ma influence? {image}
Hi Mr T, trying to learn the Roadmp--you say the break was below 8 ma and below 200 ma is that correct as I see the 200 ma well below all price action on the lower of the two charts posted.---But if I zoom in I can see an early entry box at the very left of your screen which may be the correct interpretation.

I have already got egg on my face with a chart discussion with Laura so apologise if I am reading charts incorrectly.
Ben
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