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Roadmap - A Way To Read Markets

  • #4,901
  • Nov 22, 2021 10:39am Nov 22, 2021 10:39am
I was referring to BTCUSD, if it was possible to see it on the chart. ICMarket I have it in demo. I am learning. MR. emergentfeat THANK YOU VERY MUCH for your kindness to answer me. Greetings from Teneife (Spain)
  • #4,902
  • Nov 29, 2021 6:34am Nov 29, 2021 6:34am
Back to Basic Roadmap.
Thought I would post this mornings trades; a bit challenging at first and didn't always practice what I preach about look left etc but managed to get a profitable morning session
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every Saint has a past. Every Sinner has a Future
  • #4,903
  • Nov 29, 2021 9:06am Nov 29, 2021 9:06am
And then Dow fell out of bed to make up for a slower Dax morning
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every Saint has a past. Every Sinner has a Future
  • #4,904
  • Dec 3, 2021 2:11pm Dec 3, 2021 2:11pm
Quoting turnip15
Dow -UK afternoon. Some might legitimately say I was late into this long but it worked out fine. {image}
Why don't you go in earlier?
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  • #4,905
  • Dec 3, 2021 4:24pm Dec 3, 2021 4:24pm
Quoting Hans66
{quote} Why don't you go in earlier? {image}
I was not in front of the computer.
every Saint has a past. Every Sinner has a Future
  • #4,906
  • Edited Dec 6, 2021 12:13am Dec 5, 2021 11:56pm | Edited Dec 6, 2021 12:13am
Haven't been trading but did some sim for about 2 hours tonight using only the M5 chart with limited money management and TP/Sl rules. I feel quite lost without my higher time frames. But wont complain to much. After 60 trades, 2 months and risking only 1% per trade was up 45% If money management was applied it would be much higher. Have a great Holidays everyone.

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  • #4,907
  • Dec 7, 2021 6:59am Dec 7, 2021 6:59am
NC, channel failure. could've monitored till ny opens, but i better off and go swimming before pool closes. grateful for lessons that Laura has laid out.
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  • #4,908
  • Dec 13, 2021 4:09am Dec 13, 2021 4:09am
Just a passing observation:
Have you noticed how the Dax etc tend to have an initial flurry of volatility before slipping into the doldrums. So you have to be careful and not be afraid to sit on your hands ( or read a book ) or set alerts. ( In my case, shut down Pc, and walk the dog )
Perceived wisdom is, not to trade in December, but if you must, then exercise caution.
Have a nice Christmas in any event.
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every Saint has a past. Every Sinner has a Future
  • #4,909
  • Dec 21, 2021 8:03am Dec 21, 2021 8:03am
And also not trading this week.....but......I thought I would post this chart re price action around 8am UK open. Wild fluctuation that calms down if you wait, giving reasonable roadmap trading opportunities. This happened yesterday and again today, hence my post.
5 minute and one minute charts of the Dax.

Enjoy.
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every Saint has a past. Every Sinner has a Future
  • #4,910
  • Dec 26, 2021 10:34pm Dec 26, 2021 10:34pm
Quoting ChubbyWookie
Haven't been trading but did some sim for about 2 hours tonight using only the M5 chart with limited money management and TP/Sl rules. I feel quite lost without my higher time frames. But wont complain to much. After 60 trades, 2 months and risking only 1% per trade was up 45% If money management was applied it would be much higher. Have a great Holidays everyone. {image}
Hi Chubby.
How is your entry rule and TP/SL rules? Do you apply full rules as LaraT recommendation?
  • #4,911
  • Edited 9:48pm Dec 27, 2021 9:20pm | Edited 9:48pm
Quoting livetolove03
{quote} Hi Chubby. How is your entry rule and TP/SL rules? Do you apply full rules as LaraT recommendation?
Good question. Unfortunately I don't recall 100% as I was expecting more people would be interested in making 20+%/month and i must have put in at least an additional 70 hours of various rules in simulation since then. Moreover im pretty sure the rules below are correct

Requirements for longs (shorts are the opposite and RSI must be 40 or less)
- Basic road map rules
- Price to pull back into or slightly below 8EMA Channel
- Stochastic crosses below mid line (If its below 20 you might want to wait for it to come back above 20)
- Price goes back up into 8EMA with a Bullish candle pattern, or double bottom (pins, engulfing bars etc)
- Stop 3 pips below swing
- TP 1.5
(Stochs K8, D3, slowing 5. Only use Signal line)

Added some examples below. Yellow is stop, green TP and vertical line entry candle. Notice how many trades ended up being a double bottom. You miss the first entry you will likely have another chance with higher probability of working out
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You got to be picky chosey and only trade when you have distinguished trend .Unlike the crap below
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Where in Vietnam are we trading from?
  • #4,912
  • Dec 28, 2021 3:36am Dec 28, 2021 3:36am
Quoting ChubbyWookie
{quote} Good question. Unfortunately I don't recall 100% as I was expecting more people would be interested in making 20+%/month and i must have put in at least an additional 70 hours of various rules in simulation since then. Moreover im pretty sure the rules below are correct Requirements for longs (shorts are the opposite and RSI must be 40 or less) - Basic road map rules - Price to pull back into or slightly below 8EMA Channel - Stochastic crosses below mid line (If its below 20 you might want to wait for it to come back above 20) - Price goes...
Hey, do you still trade this way or has your implementation of roadmap changed? Would be interested in learning how you trade now . Also - I found you money management strategy from a few pages back interesting, so thanks for that!
  • #4,913
  • Dec 28, 2021 8:03pm Dec 28, 2021 8:03pm
Quoting ChubbyWookie
{quote} Good question. Unfortunately I don't recall 100% as I was expecting more people would be interested in making 20+%/month and i must have put in at least an additional 70 hours of various rules in simulation since then. Moreover im pretty sure the rules below are correct Requirements for longs (shorts are the opposite and RSI must be 40 or less) - Basic road map rules - Price to pull back into or slightly below 8EMA Channel - Stochastic crosses below mid line (If its below 20 you might want to wait for it to come back above 20) - Price goes...
Many many thanks for your clearly explanation. I'll do the backtest.
Actually, I dont fully understand your question "Where in Vietnam are we trading from?".
  • #4,914
  • Edited 10:13pm Dec 28, 2021 10:02pm | Edited 10:13pm
Quoting benjam1n
{quote} Hey, do you still trade this way or has your implementation of roadmap changed? Would be interested in learning how you trade now . Also - I found you money management strategy from a few pages back interesting, so thanks for that!
Yes and no. I tend to like to trade the tops and bottoms using various time frames and fractional disparity. However I will use the roadmap for continuation trades. For those continuation trades i will use the rules above (stops vary depending on Price Action, usually 3-5 pips). Except the TP rule as i prefer to take one trade and let it run. The only thing i really added to the road map was stochastic to help me not get in to early. The above example in post 4907 was an example showing you don't have to look at all the things i do to make a profit. In fact i may Change up my trading after going over many years of back testing this holiday season. It's not home runs that make you win big it's the base hits. I will probably start trading again toward middle of January and post trades when i can.
  • #4,915
  • Edited Dec 29, 2021 8:51am Dec 28, 2021 10:12pm | Edited Dec 29, 2021 8:51am
Quoting livetolove03
{quote} Many many thanks for your clearly explanation. I'll do the backtest. Actually, I dont fully understand your question "Where in Vietnam are we trading from?".
That is great. Look forward to seeing what you find. When back testing its often easy to try and trade every day. What you will likely end up doing is trading in ranging markets. But remember in the real world if the EUR/USD has been ranging for some time you would not trade EUR/USD and likely move over to a cross like EUR/AUD. Even if it feels like your losing complete at least a full year. Also only backtest the time you will be infront of the computer

When i went to click to view post i hit your profile and it said trading from Vietnam. Just curios as i have spent a lot of time over there in the past.
  • #4,916
  • Dec 29, 2021 1:31pm Dec 29, 2021 1:31pm
Hey ChubbyWookie, I really like your 2 months backtest, just wondering if you did any backtest from 2017->today? especially interested to see if it will work on XAUUSD. Thanks.
  • #4,917
  • Dec 29, 2021 1:40pm Dec 29, 2021 1:40pm
Hello everyone
can some one share the MT5 indicators
thanks
  • #4,918
  • Dec 29, 2021 2:40pm Dec 29, 2021 2:40pm
New prop firm on the block. Might be of interest to some of us ?
https://www.fundedtradingplus.com/fu...aunch-webinar/
every Saint has a past. Every Sinner has a Future
  • #4,919
  • Dec 29, 2021 10:37pm Dec 29, 2021 10:37pm
Quoting ChubbyWookie
{quote} That is great. Look forward to seeing what you find. When back testing its often easy to try and trade every day. What you will likely end up doing is trading in ranging markets. But remember in the real world if the EUR/USD has been ranging for some time you would not trade EUR/USD and likely move over to a cross like EUR/AUD. Even if it feels like your losing complete at least a full year. Also only backtest the time you will be infront of the computer When i went...
Thank you for your advice.
I think the hardest thing is to realize when the market is ranging and avoid to trade.
Your profit during backtest should come from your 11 years experience, not only the rules. It is not easy to get 45% during 2 months.
One thing, I can't not make the RSI work properly in backtest EA. Do you thing RSI is important rule/filter? I mean the average of RSI at higher timeframe is fluctuated normally.
Its happy to hear you have been in Vietnam. I live in Sai Gon.
  • #4,920
  • Dec 30, 2021 9:19pm Dec 30, 2021 9:19pm
Quoting beaverlove
Hey ChubbyWookie, I really like your 2 months backtest, just wondering if you did any backtest from 2017->today? especially interested to see if it will work on XAUUSD. Thanks.

I have back tested many pairs including Gold and Silver with good results. But i don't think I have gone back to 2017. In general i find the roadmap works in all pairs however each pair does seem to have slightly different behaviors. Like CAD pairs seem to move nice but also have large pull backs that might make you close early. Some pairs may often give you a double bottom or double top and others may just hit once and run. Biggest thing is we all see things differently. One time i developed some rules and had my wife try it. I was 80% she was 40%. Turns out i was using more rules than i thought because we see things differently. So if your struggling please don't hesitate to post questions or trades.

In back testing i have jumped back to far as 2009 and its the same. But that doesn't mean i have done every year from then on. I now primarily stay within the last 4 years of EUR/USD and GBP/USD that way i can compare systems and rules under same market conditions quickly. Then i will usually jump to a random pair with a random year and test it out. Whats interesting is after you look at it enough you think you start to memorize that pair and years price action. But when you jump to a random pair and year you have never looked at. You see its the same thing over and over and over.
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