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Roadmap - A Way To Read Markets

  • #4,221
  • Jan 11, 2021 2:57pm Jan 11, 2021 2:57pm
Quoting anggalalc
Hi Laura, I finally decided to join the thread after been following since July, and learning all the details about the strategy. I decided now after backtesting for almost 3 months to start demo-trading it, and I know it is difficult but I would love to join the slack group if possible. I feel like I am lacking some mentorship to be able to develop the plan. I still have so many doubts about it that I plotted on a blocnote and I would love to ask to you. Thank you so much for showing us/me that trading can be easier than expected. Hope all of you...
Welcome.

Unfortunately the Slack group is at capacity for the time being and I really can't squeeze another person in right now. As you'll appreciate, each student entails extra time and focus from me on their development and there's a limit to what I can do alongside my full-time trading.

However, please do feel free to post your questions here and I'll do my best to answer.
  • #4,222
  • Edited 7:16pm Jan 11, 2021 6:51pm | Edited 7:16pm
EU Trade for the Day
oops that's supposed to be RSI 27 not ADR 27
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  • #4,223
  • Jan 12, 2021 6:23am Jan 12, 2021 6:23am
Dax UK am.
A good morning using basic Laura rules. Less is more. ( Meaning my concentration is limited)
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every Saint has a past. Every Sinner has a Future
  • #4,224
  • Jan 12, 2021 12:14pm Jan 12, 2021 12:14pm
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DOW after NYO, short trade went 100+ and ended at BE only a few pips before taking profit... I was expecting a lower low, which it came later, but before that,market took my BE stop. Good location for the trade - poor management.
  • #4,225
  • Jan 12, 2021 12:44pm Jan 12, 2021 12:44pm
Quoting Nick24
{image} DOW after NYO, short trade went 100+ and ended at BE only a few pips before taking profit... I was expecting a lower low, which it came later, but before that,market took my BE stop. Good location for the trade - poor management.
feels good to be right though
  • #4,226
  • Jan 12, 2021 1:23pm Jan 12, 2021 1:23pm
Quoting Hooman86
{quote} feels good to be right though
I do not feel that good about this trade, coin in the bank and food and wine in my table feels good, lol, in this trade I saw all that but were gone before I touched them. I was not right or wrong, I just followed Laura's rules that provide a higher probability to be on the right side of the trade,but failed to manage position with the simple tools described here, like a speed line, to capture at least some, since I don't have the stomach for deep DD, to me those are the worst kind of trades. I prefer to see in my trades either TP or SL , but is not always easy to discipline to that approach.
  • #4,227
  • Edited 4:39am Jan 13, 2021 4:23am | Edited 4:39am
@LauraT
Hello
Dax UK am.
pretty good except for two losses at the end due to not looking left properly? Probably missed something else as well. Or maybe that's how it goes sometimes?
Opinions welcome.
Good overall.
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every Saint has a past. Every Sinner has a Future
  • #4,228
  • Jan 13, 2021 4:58am Jan 13, 2021 4:58am
Quoting turnip15
@LauraT Hello Dax UK am. pretty good except for two losses at the end due to not looking left properly? Probably missed something else as well. Or maybe that's how it goes sometimes? Opinions welcome. Good overall. {image}
Although I can see why you took the shorts that ended in losses, keep in mind that you were selling into bullish momentum. The long wasn't anything done wrong, just a market that ran out of steam.
  • #4,229
  • Jan 13, 2021 5:22am Jan 13, 2021 5:22am
Quoting LauraT
{quote} Although I can see why you took the shorts that ended in losses, keep in mind that you were selling into bullish momentum. The long wasn't anything done wrong, just a market that ran out of steam.
Very good point. I overlooked that at the time ( higher highs)
every Saint has a past. Every Sinner has a Future
  • #4,230
  • Jan 13, 2021 4:56pm Jan 13, 2021 4:56pm
My only trade for the day. May have been a bit lucky with the mush of EMAS but that resistance level looked so yummy and price was just jumping away from it. 1st entry was stopped out at BE.
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  • #4,231
  • Jan 14, 2021 5:22am Jan 14, 2021 5:22am
I am impressed by the “forum policing” applied here at FF. It should be a sign of high standards that new members have to be somehow approved by the authorities. However, their response time resembles soviet era bureaucracy (including the impossibility of contacting anyone for information!) My posts are published one or two days after I post them and one I posted 3 days ago has not been published yet. It was a reply to Turnip15, which I resubmit here:

“Turnip15, you are absolutely right and I apologise again for polluting this excellent thread. Being a new member, I am not allowed to start a new thread, nor to send a PM to LauraT, which would have been my preferred option. I feel very close to the way LauraT trades and has developed her methodology and I was wondering whether she too had thought about a similar development.” I am posting this at 11:20am London time on Thursday 14 January. Let’s see.

I hope I will pass the test and graduate as a “not new” member soon (BTW, does anybody know how long it usually takes?)

PS: I hope the forum police has a sense of humor, unlike the soviet era bureaucracy!
  • #4,232
  • Jan 14, 2021 5:28am Jan 14, 2021 5:28am
Entered at the red vertical line. Price is currently in consolidation, but this looked quite good with timeframes up to M30 aligning with the bullish sentiment. I know I might be wrong here, so my stop loss is below the coral horizontal line.
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  • #4,233
  • Jan 14, 2021 6:01am Jan 14, 2021 6:01am
Quoting needtolearn
Entered at the red vertical line. Price is currently in consolidation, but this looked quite good with timeframes up to M30 aligning with the bullish sentiment. I know I might be wrong here, so my stop loss is below the coral horizontal line. {image}
That's a very ugly chart Better to find opportunities that jump out at you because they are already choosing a direction. Also, wouldn't advise trading currencies on 1m timeframe as rewards will be severely limited and there is more 'noise'.
  • #4,234
  • Jan 14, 2021 6:50am Jan 14, 2021 6:50am
Dax Uk morning.
Nice opportunities for catching pips off bounces and simple Laura breaks of channel.
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every Saint has a past. Every Sinner has a Future
  • #4,235
  • Jan 14, 2021 9:34am Jan 14, 2021 9:34am
Quoting LauraT
{quote} That's a very ugly chart Better to find opportunities that jump out at you because they are already choosing a direction. Also, wouldn't advise trading currencies on 1m timeframe as rewards will be severely limited and there is more 'noise'.
Ahh, this excitement at having the thread owner reply I took few opportunities last week which turned out pretty well, but I forgot to post them. Trying to do it actively now. As you can see (from my registration date), it has been over 9 years for me since I joined Forex, but am still trading without any seriousness.

Somehow, the term roadmap (thank you so much for creating this thread) really struck a chord with me because it made me feel that I have been moving without a direction. I know myself, and I am likely to divert my attention to new knowledge. It is like I don't want success, this is what I realized after a long time of self reflection. I don't know if this endeavor will last long enough or not, but hopefully I can make it this time. I really don't want to delay this any longer.

Maxeus.
  • #4,236
  • Jan 14, 2021 12:44pm Jan 14, 2021 12:44pm
Wow, that was quick, forum police. Thank you. I stand correct and I am put back in my place.
And to all the people in this great thread I promise not to mention automation and mechanical testing again.
  • #4,237
  • Jan 14, 2021 12:56pm Jan 14, 2021 12:56pm
Quoting capm
Wow, that was quick, forum police. Thank you. I stand correct and I am put back in my place. And to all the people in this great thread I promise not to mention automation and mechanical testing again.
What happened? I sent you a private message earlier btw.
  • #4,239
  • Jan 14, 2021 1:19pm Jan 14, 2021 1:19pm
Dax Pm
Good run up from the off.
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every Saint has a past. Every Sinner has a Future
  • #4,240
  • Jan 14, 2021 1:45pm Jan 14, 2021 1:45pm
Quoting FXsniper111
{quote} Theres to much bullshit on charts all you ned isws,Vvap,sma200/50 daily open/daily high/low and pivots
and that aint bullshit sniper...c'mon man.... dont do like you have all the wisdom in pact....
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