Roadmap - A Way To Read Markets

EURJPY Trade (Demo) -

 

1. SMA looks up.
2. RSI/MTF in agreement
3. Price got support from Trendline.
4. Entered on retrace.
5. Waited for consolidation area to break.

Bailed out early due to price not able to break the and trapped inside the trendline. It was late so I just closed the trade rather than just running it overnight. Though trade hit my TP target of 126.958

CompRSISelectv2.mq4 Indicator draws

Dax -Friday- AM.
Another good morning and less stress. Not needing to snatch 5 pips per time in whip markets as often happens.
Enjoy your week end. No trading next week -shopping and testing various drinks.

And the Dax -thus far -in the US session :-)
Enjoy your weekend folks.

USDCAD(DEMO) – 20th Dec – 6:45 PM CT- TP Hit

 

1. Price in uptrend and above SMA.
2. Price cleared Yesterday's high and DO
3. RSI and MTF (till H1) in Support.
4. Support from trendline
5. Distance to SMA – 33 Pips
6. Target 30+Pips
7. No resistance in between and no news
8. Only risk is market open (Notes taken when opened the trade)
9. Entry at the touch of the bottom channel

Note :- I could have targeted the ADR high but due to Market open and Christmas week I was not expecting a lot of movement but as per the plan everything was looking right so I entered the trade.

gbp jpy m15

ON SUCH DAY
LOSE ALL

Hi all, micro swing Dow long in 1min, shortly after LO, early entry at TL and channels break ,before 8 channel crosses 200sma.

Merry Christmas and Happy New Year to everyone, Am happy to have you Roadmappers. I hope the new year I will trade profitably, I will have a way to read the markets

Regards,
Mbae

I am very impressed by this thread. So much so that I have decided to get in touch with LauraT and pay my compliments. I am not a contributor to any forum, but I do read some of them from time to time, and this Covid period gave me some leisure time. I would not like to pollute this excellent thread and I was planning to send LauraT a PM, but it turns out I am not allowed to do so. So, I have slightly changed the message, hoping that someone will find it useful, and I post it here. Apologies for the intrusion.

I like 4 main aspects of this thread.
One is that it shows that simple rules, based on good old and tested momentum and applied with consistency, work. When you then add some other simple rules that take care of basic Price Action, it works even better. The more you apply them in a consistent, systematic fashion (you can call it experience, if you like), the more you can rely on them.
I have been a trader (and also coach and mentor and lots of other things) for longer than I care to remember and tried a bit of everything. With time I have realised that these principles work better than anything else (well, at least for me.) I developed various methodologies and systems that follow basic principles, tested them rather rigorously and the stats tell they are a good way to trade. Do not worry, I do not sell them.
I am sure there are many other such examples in this and other forums, but it is probably no coincidence that I have stumbled upon this one. First it was the title. I widely use the expression “roadmap” or the more grandiose “battle plan” in my coaching, so I was obviously curious. Then I liked the tone and the clarity of the explanations. And then the charts in the examples were strangely familiar. One of my methodologies is strikingly similar to this. Here is an example:

LauraT uses an 8 EMA channel and observes its reaction to significant levels (SMA 200 and daily H L Open in her case). I use the slope of 2 moving averages and significant levels (some same as Laura’s and some others.) This is a simplified example of her basic indis (in yellow) over imposed on some of mine (blue/red). It does not really matter what they are, the focus is on the principle. Trade and money management, as far as I can gather, are also similar in principle.

The second aspect is that I find really refreshing to see that other serious traders (I am talking about private, independent traders) adopt a common attitude towards trading. This is not just by chance. Digging a bit in LauraT’s two threads reveals many elements that are common to serious traders. First of all the importance of psychology. Anyone who has endured the pain of going through any of Mark Douglas’ books (great mind, dreadful writer! Probably only Al Brooks’ books are more literarily challenging) shows commitment and has my sympathy and utmost respect. Ditto for anyone who thinks in terms of risk, who risks a very small per trade, uses stops and has a plan. Ditto for the content of chapter 10,11,12 14 and 15 of her “just a journal” complementary thread. I guess, from experience, that only a tiny fraction of the readers will eventually be able to follow consistently all of Laura’s principles, but I know, again from experience, that those few who will, will be on a path to success.

The third aspect, is even more refreshing for me personally. The more I read her threads the more I recognise traits of my own teaching as a coach and mentor: the step-by-step path, the advanced trades, the aggressive mode, the trading exercises, the trading journal (I have always been the “instructor from hell” on this point!) I even sent the thread’s link to a former student of mine and he returned to me with: “Wow! That’s you!” I guess we traveled similar paths to get here and I was wondering what is LauraT’s trading story.

The forth aspect is LauraT’s generosity and kind attitude. This is where we slightly differ, I guess, but I have the deepest respect for people who genuinely wish to teach and help. Most of the times, especially in the financial sector, one needs to be sceptical of “free stuff”: brokers want to increase the number of trades, people use it as subtle marketing techniques, etc. Trading is not generous nor kind, and I actually think it should not be either. I do not mind any of those tactics: they are part of the more general and very human selling game. It is up to us to sniff them out. But I believe that from this thread it transpires that LauraT is the genuine article and I just wanted to say it.

Thank you LauraT for your contribution, inspiration and for making me think.

Happy 2021, everyone!

AUDUSD (DEMO)– 27th Dec – 5:50 PM CT

Just entered the trade on AUDUSD at 5:50 PM

 

1. Price getting support from SMA 200 and not too far from it.
2. Price past yesterday's high and DO line.
3. RSI and MTF in agreement.
4. Only CONS – Market jut open. New year and boxing day holiday in some countries.

Trade exited with a loss

Could have exited when the candle stopped at Daily Hi and channel.

Good trading strategies..

Thank you very much for your kind words. Your post also gives me the opportunity to reflect upon my time here in 2020 and it's the right time of year for reflection!

Teaching doesn't come naturally to me so I'm happy to hear the threads have some coherency and logical progression. It's been a challenge to present information in a gradual way, without it seeming like all the elements are necessary straight away. They aren't.

Trading is simple but difficult. Because it's difficult, it doesn't have to be over-complicated. I wasn't sure how what I was presenting would be received, but I had a feeling some might dismiss it as too simplistic. As you mentioned, after trying out lots of different approaches, it's often the simple ones we end up returning to.

I've also considered in the past what you raise about free information online. People rightfully become curious about what a person's agenda is, as a great many contributors end up wanting to sell something or have some hidden motives. But I figured I would bring a 'take it or leave it' attitude and see what happens. If I had encountered lots of negativity, I would have likely deleted the thread and moved on with my life. However, I'm delighted to say it's been a positive experience overall (even if I need to slack sometimes due to having too much on my plate) and people have been respectful and positive.

One thing I'm very aware of is the nuanced approach I most likely take to trading. That is something I cannot really distill into some online postings. Roadmap is subjective to a degree, and I don't think there's any getting away from the fact. Really, what I'm presenting is just the beginning. The tools are there but people each use tools slightly differently. I do regularly receive messages from people who have found success with this way of trading though, so I guess in the right hands it's a profitable approach.

_______

To all readers and contributors, I want to thank you for your time. I know there are a million strategies out there and a million people shouting for your attention.

I look back to April when I started this thread and I see some of the original posters still using the methodology. Some have moved on to other things, and that's fine. This won't suit everyone.

But for those who have persevered, no doubt through some challenging times, you have my utmost respect and admiration. This isn't an overnight riches strategy, and I don't believe trading is a path to overnight riches either. Eventually though, things just start to click and what once seemed frustratingly difficult begins to feel a little easier. Markets seem to move in our favour more and our decisions seem that little bit improved. That's the road to success, in my opinion. It's slow and gradual, but rewarding along the way.

I do still intend to expand on what's been covered, in 2021. I've recently introduced basic elements of Wyckoff and volume analysis (my own interpretation of volume analysis, not Wyckoff's) to my Slack students and it seems to be going well. So it's definitely something I have planned for my journal.

Finally, let's look forward to a new year. I wish you all one filled with health, happiness and prosperity!

A couple of things to mention.

Firstly, I wouldn't consider that to be a decisive break of previous day's high. What will often happen is price will break those levels then retreat back under/above. A decisive break would be either significant in terms of pip/point number or include a successful test of the level upon retracement.

Secondly, keep in mind how sideways SMA200 was. That tells you it's a ranging market. Sure, it has to breakout eventually, but safer to accept you won't catch the initial breakout and will instead capture something from the confirmed trend.

Hope this helps.

Thanks for the Feedback Laura. Really really appreciate the feedback and the support/guidance you have provided.

Happy new year to you and your family and all the roadmappers .

everyone have a great 2021.

This method is basically very simple but very effective at the same time. Inevitably, there are people that want to add more and more squiggly lines for some reason. When I read through some of the other systems here on FF I am forever getting banned because I refer everyone to your thread. I do worry that it all goes very quiet on here from time to time, but I know that this is because it is such a complete system and not much more needs to be added.
All the best for the new year Laura.

Subjective yes. Your approach is excellent, no doubt about that, and focuses the mind on a few essentials. The nuanced approach is correct in my humble opinion since it is rather like learning to drive: The pupil learns the basics then, with experience, he or she is able to foretell another drivers behaviour before the other driver makes a move. I expect many experienced drivers here know what I mean
Laura has given freely of her time and it is up to all to practice with the approach to eventually profit.

Happy New year to all and see you around the 11th January.

Nice little Dow short after NY open to DO line. +50pt

As you can see I could have held longer but the DO was a good target for me.

any comments are welcome
micro account

sent you a pm