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Roadmap - A Way To Read Markets

  • #4,941
  • Edited 4:20am Feb 2, 2022 12:31am | Edited 4:20am
Quoting ChubbyWookie
{quote} Yes indeed I have already received my lucky money from friends and family. New year, new triumphs my friend! If you happen to be using Soft4x i may be able to help you with composite RSI. It's definitely not a must have but sometimes nice to have What a superb trade. I was eyeing EUR/USD and GPB/USD. Ended up taking GPB/USD due to it having a little bit more wiggle room to the previous days high when compared to EUR/USD. Check out the confluences between EUR/USD, EUR/GBP, GPB/USD and USDX. Its difficult to watch in real time and don't try...
I'm curious why you get lucky money in Lunar New Year, from Asian friends?
I have thought about adding Composite RSI, however it does not work in Soft4x so I try to backtest without Composite RSI. It is surprised that the result still not bad. Hence, I think I should backtest with the rule as much simply as it can.
It is wonderful when analysis related pairs and multi TFs like you. Frankly, I'm not good in getting that much information.
So, I think its better to simplify the rule and add more filter later when I back test enough.
Many thanks to your advice.
Update: 3 trades today, 2 win & 1 lose.
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  • #4,942
  • Feb 4, 2022 2:44am Feb 4, 2022 2:44am
shorts on td365
thank you Laura
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  • #4,943
  • Feb 5, 2022 10:32am Feb 5, 2022 10:32am
Quoting livetolove03
{quote} I'm curious why you get lucky money in Lunar New Year, from Asian friends? I have thought about adding Composite RSI, however it does not work in Soft4x so I try to backtest without Composite RSI. It is surprised that the result still not bad. Hence, I think I should backtest with the rule as much simply as it can. It is wonderful when analysis related pairs and multi TFs like you. Frankly, I'm not good in getting that much information. So, I think its better to simplify the rule and add more filter later when I back test enough. Many thanks...
I always thought it was just a gesture of wishing good fortune for the new year. I never spend my lucky money and its not like they are giving big $$$$$. They always give me a total of $4 USD in the form of two 2 dollar bills from the united states. I usually get a box of green bean cake as well.

Nice trades. I'm sure you noticed how they decided to come back just below the daily open line then closed right back above and took off. That's why i will typically place the stop below the daily open line or wait for price to test it. Also real nice how they break the previous day high without hesitation, retest, then off again. Absolutely wonderful!!!!

To get it to work in Soft4X you must add H4,D1 and W1 charts then open them. You don't have to load any templates to those additional charts just need them open so the indicator can use their data. Again like you have noticed it's not required. I usually look at price action 1st then i will take a gander at RSI.
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Yes indeed keep it simple and do what works for you
  • #4,944
  • Feb 7, 2022 7:44am Feb 7, 2022 7:44am
Quoting ChubbyWookie
{quote} I always thought it was just a gesture of wishing good fortune for the new year. I never spend my lucky money and its not like they are giving big $$$$$. They always give me a total of $4 USD in the form of two 2 dollar bills from the united states. I usually get a box of green bean cake as well. Nice trades. I'm sure you noticed how they decided to come back just below the daily open line then closed right back above and took off. That's why i will typically place the stop below the daily open line or wait for price to test it. Also real...
Yeap, it is truly a wish for your happy new year. I mean I curious why you get Lunar New Year gift in Bulgaria. I think Bulgaria new year Holiday when Christmas comming.
I did back test in random time. In backtest, I set the profit fix at 1.5R. The result almost positive per month, but occasionally negative. My problem is keep profit running and close lose trade. If I could get higher RR, it should be more safe.
Regarding to Composite RSI, I add H4 D1 W1 charts as your advice but it still not work. I dont know problem.
  • #4,945
  • Feb 8, 2022 3:24am Feb 8, 2022 3:24am
Noticed that Dax has shown better moves between 7am to 9am for a while now
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every Saint has a past. Every Sinner has a Future
  • #4,946
  • Edited 11:41am Feb 19, 2022 11:30am | Edited 11:41am
Quoting livetolove03
{quote} Yeap, it is truly a wish for your happy new year. I mean I curious why you get Lunar New Year gift in Bulgaria. I think Bulgaria new year Holiday when Christmas comming. I did back test in random time. In backtest, I set the profit fix at 1.5R. The result almost positive per month, but occasionally negative. My problem is keep profit running and close lose trade. If I could get higher RR, it should be more safe. Regarding to Composite RSI, I add H4 D1 W1 charts as your advice but it still not work. I dont know problem.
I mean I curious why you get Lunar New Year gift in Bulgaria. I think Bulgaria new year Holiday when Christmas comming.:
Thats correct but i think its less about the gift and more about wishing a good friend the best


I did back test in random time. In backtest, I set the profit fix at 1.5R. The result almost positive per month, but occasionally negative. My problem is keep profit running and close lose trade. If I could get higher RR, it should be more safe
It's definitely not easy to determine TP and when to close a trade. keep in mind it's not always about how much money you make as it is about how much money you don't lose. In the past I have had rules in which if price hadn't moved a significant amount after 2 hours, I would close the trade regardless. I no longer use those rules as I am pretty confident in the larger market structure but it's something that helped me out. Also knowing when to move to BE is huge. What i would do is go through a entire year with your basic rules. Then go back through and add a BE rule to all your original trades and note what your new win/loss ratio is. You may have 200 trades with a 50/50 Win/Loss but when you add a BE rule you may get 60/40 Win/loss (BE in my book is a win). Another BE rule i have used which is a bit more complicated to explain would be after I have 2 tests back to a support/resistance area with a push in my direction i will move to BE. A few other things. make sure you're only trading your designated time that you will be in front of the computer. Note what time your wining trades work out and your losing ones dont. You might notice you losing trades tend to occur during a certain time frame (like lunch time). Also, you can turn on news events in the sim and not trade 45 minutes before or after red news. Feel free to post your trades even if its in the sim
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Regarding to Composite RSI, I add H4 D1 W1 charts as your advice but it still not work. I dont know problem.
I added my Template with indicators and how i set up the sim. I will composite RSI will help with holding onto runners that can get you easily 2:1+++
Attached File(s)
File Type: zip Indi.zip   114 KB | 670 downloads
Attached File(s)
File Type: tpl RoadMap v4-Must open H4, D1 and W1 charts.tpl   34 KB | 561 downloads
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  • #4,947
  • Feb 24, 2022 7:24pm Feb 24, 2022 7:24pm
Trades for Thursday. 2 losses/2 wins. Done for the week. Closed out near 5:1 and 1.5:1 (my stop on the last trade was actually above the 2nd yellow line). Curios to see what tomorrow has at end of day. Im thinking a pull back then back to the long side. Guess we will see. Have a great weekend and good night.
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  • #4,948
  • Feb 28, 2022 4:37am Feb 28, 2022 4:37am
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  • #4,949
  • Mar 1, 2022 5:40am Mar 1, 2022 5:40am
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  • #4,950
  • Mar 1, 2022 9:28am Mar 1, 2022 9:28am
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x oggi basta così....
  • #4,951
  • Mar 2, 2022 8:05am Mar 2, 2022 8:05am
Missed AJ M5 entry near the 200sma....
So I came to Indices...
Really does feel the BIG different of FAST INDEX & Slow currencies....

Dow M1 warm up, haven't got time to trade for past 4months...

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Cheers...
  • #4,952
  • Mar 3, 2022 8:10am Mar 3, 2022 8:10am
Messy M1 Dow attempt
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Sweet M1 Nas attempt
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cheers
  • #4,953
  • Mar 5, 2022 12:01am Mar 5, 2022 12:01am
Hope everyone had a great week. some major strong trends these last few weeks with roadmap trades everywhere
  • #4,954
  • Mar 8, 2022 2:58am Mar 8, 2022 2:58am
Hi All

Been a while since I posted here and thread seems to have gone very quiet with Laura not posting for some time. I've been very ill (not Covid related) and that has taken me away from charts. I'm now not able to stare at charts intraday so have adapted Roadmap to use the daily time-frame. I'l post some charts in a moment

Rover
  • #4,955
  • Mar 8, 2022 3:07am Mar 8, 2022 3:07am
The horrid and dramatic war in Ukraine has had a huge effect on Forex and Commodities

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  • #4,956
  • Edited 3:27am Mar 8, 2022 3:13am | Edited 3:27am
I simply enter via stop order on a break of the first candle to close above/below the 8EMA with a stop the other side of the EMA channel. I target around 3R (where R = Risk) or where I feel it'll stop at support or resistance. Now swap becomes an issue trading the daily, so it's important to see what your broker charges
  • #4,957
  • Mar 8, 2022 3:19am Mar 8, 2022 3:19am
I also trade commodities like the Aggs and Oil and the the Indices

Here's Wheat

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Here's WTI
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  • #4,958
  • Mar 8, 2022 3:21am Mar 8, 2022 3:21am
And here's the Dow, but that's not quite so trendy currently



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  • #4,959
  • Mar 8, 2022 3:23am Mar 8, 2022 3:23am
I'll post a few more later on other instruments I look at

Cheers for now

Rover
  • #4,960
  • Mar 8, 2022 5:11am Mar 8, 2022 5:11am
Here's EUR/BOBL, a German bond, not got into bonds yet but there's loads of potential. They're a bit volitile currently so perhaps need to be a bit wary

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