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  • #5,101
  • May 29, 2022 12:51am May 29, 2022 12:51am
[quote=snakecharmer;14014184]{quote} Thank you for your reply.

Hi snakecharmer,
Sunday afternoon here and had a look at some of your trades, based on my undertanding of Laura's methods adapted to our individual tastes, in particular this trade for you.

When I duplicated this trade on my platform---at 5 min time frame I put the channels on and wonder where your entry was and which one of Laura's rules you used.

You have mentioned that exits are difficult to determine in some trades, so when I looked at this trade I adjusted the time frame to a 15 min view where I see a nice downtrend, I wonder if you can see any exits based on these views----Closes around the channel provide some possibilities, depending on which rule you like.

I have attached 2 charts with close up view allowing a detailed look at the bars---hopefully it provides some insight to how you trade, with Laura's methods.

Practice will improve your results which look good, keep up the good work.
Ben
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  • #5,102
  • Edited 2:33pm May 30, 2022 1:34pm | Edited 2:33pm
A few trades for today, one huge loss and two trades that are still live.

Losing trade.
At entry RSI 26, dashboard all red.
I took the trade as soon as the countertrade trendline was broken. My SL are tighter then last week, SL was above 9585 level.
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1st live trade still in. First profit take was on the anticipation of the touch of the trendline and a small spike, second profit take was on the break of the second trendline. Trade will be trailed until I go to sleep just under the SMA. Initial SL below Daily OPEN
Attached Image (click to enlarge)
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2nd trade still live.
Maybe took profit a bit too early but it was a big spike that made a new HH.
Trade will be trailed until I go to sleep just under the SMA and a TP just above at the ADR high.
Initial SL below Daily HIGH.

Attached Image (click to enlarge)
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All these trades are taken in the same pattern; all according to Laura's Roadmap RSI and dashboard, price returns as close as possible to SMA, break a certain level like ADR or Daily and then a counter trendline and small ema channels for maximum possible momentum in the correct direction then entry. I hope these are correct trades.

Thank you.
  • #5,103
  • May 31, 2022 8:54am May 31, 2022 8:54am
This one worked well. I was watching to see if it would make it through the H4 MA200, which it has. Not really sure where to expect to TP at the moment. My ADR high is showing as 163.14 if it makes it that far.

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  • #5,104
  • Jun 3, 2022 1:00am Jun 3, 2022 1:00am
Quoting snakecharmer
A few trades for today, one huge loss and two trades that are still live. Losing trade. At entry RSI 26, dashboard all red. I took the trade as soon as the countertrade trendline was broken. My SL are tighter then last week, SL was above 9585 level. {image} 1st live trade still in. First profit take was on the anticipation of the touch of the trendline and a small spike, second profit take was on the break of the second trendline. Trade will be trailed until I go to sleep just under the SMA. Initial SL below Daily OPEN{image} 2nd trade still live....
On your USDCHF trade, a couple of things come to mind.

Although the SMA was displaying a good slope, try to also be aware of the market phase in play and what came before. You entered at a breakout from contraction. Despite the contraction, the last two up moves took the channel above the SMA. These things combined made an expansion phase extremely likely, and that's what happened.

Also, I'm not too keen on your entry. I can see structurally why you took it but you could have saved yourself 10 pips or so by waiting for the likely retracement back to the SMA. Over the course of time, saving a few pips here and there will make a difference to your bottom line.

Hope this helps.
  • #5,105
  • Jun 3, 2022 6:59am Jun 3, 2022 6:59am
Quoting LauraT
{quote} On your USDCHF trade, a couple of things come to mind. Although the SMA was displaying a good slope, try to also be aware of the market phase in play and what came before. You entered at a breakout from contraction. Despite the contraction, the last two up moves took the channel above the SMA. These things combined made an expansion phase extremely likely, and that's what happened. Also, I'm not too keen on your entry. I can see structurally why you took it but you could have saved yourself 10 pips or so by waiting for the likely retracement...
Everything helps Laura. I think I am just a poor student and I can't implement well your clear advice.

Here is a couple of charts from today.

The 1st one is just typical way of me getting in trouble not once, but twice so I can double my losses.
My first entry might be a more obvious one regarding entry and exit when price broken the trendline and started to move against me.
The second entry was because I saw a close below the channel a strong rejection from the point I closed my first trade and then the close above the channel for momentum. At that point I was certain I had all the probabilities in my favour, turn out I was wrong again.

Looking now back at this trade at this point in time the trade is still actually above the SMA. Obviously I am making a lot of mistakes regarding managing my trades and more importantly staying in trades.
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My second chart is really embarrassing to me and posting it is a good way to hold myself accountable.
It's obvious to me now that price was in a range but I think at the moment I feel in love with the great RSI and dashboard all in my favour and disregarded the more important and obvious PA.
The reason for entry was new LL on the left, price coming back to SMA and trendline, rejected, moving in the right direction again and breaking below the Daily LOW again for entry.
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Thank you for your time.
  • #5,106
  • Edited 11:47am Jun 3, 2022 11:35am | Edited 11:47am
I was a bit luckier with this one on Gold. Arguably it could have bounced off of support again, but I was also considering the H4 chart and felt there should be good momentum as it had bounced from H4 SMA200. I have now put a stop loss in on the ADR low line, which I expect will hit soon.

Gold M5:
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  • #5,107
  • Jun 3, 2022 1:42pm Jun 3, 2022 1:42pm
And these are all my trades for the past week. I am very happy that I am still on a plus.
There is a lot of work to be done but my now that my struggle and hard work has been notice I am sure good things will come.
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Thank you.
  • #5,108
  • Edited 1:45pm Jun 4, 2022 8:16am | Edited 1:45pm
Quoting LauraT
{quote} On your USDCHF trade, a couple of things come to mind. Although the SMA was displaying a good slope, try to also be aware of the market phase in play and what came before. You entered at a breakout from contraction. Despite the contraction, the last two up moves took the channel above the SMA. These things combined made an expansion phase extremely likely, and that's what happened. Also, I'm not too keen on your entry. I can see structurally why you took it but you could have saved yourself 10 pips or so by waiting for the likely retracement...
Useful feedback, many thanks Laura. It's easy enough to spot the contraction, so will try and remember to avoid that when it straddles the SMA.
  • #5,109
  • Jun 6, 2022 1:19pm Jun 6, 2022 1:19pm
Another entry on Gold today as it continues downwards.

M15 chart:

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  • #5,110
  • Jun 13, 2022 5:16am Jun 13, 2022 5:16am
Road map still gives to the dedicated. Don't be a butterfly -stick to one approach.

Today had a few losers but the winners made an overall profit. Always use stop losses and , if you remember whilst initiating a trade - I sometimes forget, lock in a few pips profit each trade.
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every Saint has a past. Every Sinner has a Future
  • #5,111
  • Jun 15, 2022 8:32am Jun 15, 2022 8:32am
hi LauraT and all guys, after reading all the 256 pages of posts and comments i learn alot from you guys. just want to say HI and thanks for all your post. by the way i am very very new in trading forex.
  • #5,112
  • Jun 15, 2022 2:01pm Jun 15, 2022 2:01pm
Hi Laura

I just wanted to seek your view on the situation shown in the diagram, which occurs all the time. We have two potential entries:

1) where the diagonal trendline breaks (i.e. and at a better price), or
2) where support as a horizontal line is broken.

I am taking the view that where we have a break of the trendline (entry 1), we can then proceed on the basis that support is less likely to be maintained and therefore enter after the trendline has been broken rather than waiting for support to be broken (entry 2). I would be grateful for your comments on this though as I think you have much deeper understanding of price structures than I do.

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  • #5,113
  • Jun 15, 2022 2:17pm Jun 15, 2022 2:17pm
Quoting Zimbinga
Hi Laura I just wanted to seek your view on the situation shown in the diagram, which occurs all the time. We have two potential entries: 1) where the diagonal trendline breaks (i.e. and at a better price), or 2) where support as a horizontal line is broken. I am taking the view that where we have a break of the trendline (entry 1), we can then proceed on the basis that support is less likely to be maintained and therefore enter after the trendline has been broken rather than waiting for support to be broken (entry 2). I would be grateful for your...
Hi,

I would do both.

The reason I called it RoadMap is because I began to see the markets as containing a series of 'road blocks' that, temporarily at least, stop price from progressing in a single direction for a sustained amount of time.

When it comes to support/resistance levels, I take the approach that I will watch how price responds to them when it encounters them. So, in your example, I would likely have banked the profit on my first order when I saw price respond to the support level. However, I'd be doing so with the clear intention of getting back into a position if and when the support gave way.

On the second entry I would have two choices. Either I'd take the breakout or I'd wait for the likely retracement back to the support zone. Both options have advantages and disadvantages.

This all relies on being able to watch the markets a lot though. I appreciate that isn't possible for some people and they have to take a more 'set and forget' approach. Therefore, if I had to choose just one option, it would be the trendline break. I'm an aggressive trader who is happy taking a bit more risk in the hope of gaining a better price.

Hope this helps.
  • #5,114
  • Jun 15, 2022 2:24pm Jun 15, 2022 2:24pm
Quoting LauraT
{quote} Hi, I would do both. The reason I called it RoadMap is because I began to see the markets as containing a series of 'road blocks' that, temporarily at least, stop price from progressing in a single direction for a sustained amount of time. When it comes to support/resistance levels, I take the approach that I will watch how price responds to them when it encounters them. So, in your example, I would likely have banked the profit on my first order when I saw price respond to the support level. However, I'd be doing so with the clear intention...
That is very helpful indeed, many thanks Laura.
  • #5,115
  • Jun 17, 2022 4:53am Jun 17, 2022 4:53am
Boring some might think. But just follow the Roadmap. Some days it's tough but other days one's pip or point harvest is better. Just keep going and manage the money.
Easy to say but hard in practice, but keep at it.
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every Saint has a past. Every Sinner has a Future
  • #5,116
  • Jun 17, 2022 6:27am Jun 17, 2022 6:27am
Quoting LauraT
{quote} Hi, I would do both. The reason I called it RoadMap is because I began to see the markets as containing a series of 'road blocks' that, temporarily at least, stop price from progressing in a single direction for a sustained amount of time. When it comes to support/resistance levels, I take the approach that I will watch how price responds to them when it encounters them. So, in your example, I would likely have banked the profit on my first order when I saw price respond to the support level. However, I'd be doing so with the clear intention...
Have a good weekend :
Inserted Video
every Saint has a past. Every Sinner has a Future
  • #5,117
  • Jun 21, 2022 4:32am Jun 21, 2022 4:32am
Dax on 1 minute and Yen on 5 minute time frames.
Yen is not always so straightforward, often it is a case of nibbling 5 pips at a time (for me)
My Dax could have been better if I noticed the higher lows earlier when trading. On the right of the chaat I had a losing low and high. So I draw nearest high/low and sit out any drift. If I get three losses in a row I stop trading.
I only trade the E/J - less to watch - Dax and E/J ( Dow and E/J in the afternoon if trading then.)
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every Saint has a past. Every Sinner has a Future
  • #5,118
  • Jun 23, 2022 1:23am Jun 23, 2022 1:23am
Hi Laura,

I just wanted to say thanks for the gift of this thread. I find it actually "life changing" ( although I'm cautiously optimistic because I failed in many trading methods before), I'm finally finding myself consistent in my trading using the methods mentioned in this thread.

I wanted to bring up a bit of a speedbump I'm facing. When making tiny trading profits after sitting on a trade for a while, I feel a bit of a emotional brain drain. I think I'm dealing with losses even better than tiny profits. In a way it's because my losses are planned since I set my planned stop loss (and I start shrinking it even more when I see the plan not working out). But after I've sat on a trade for a while and decide to close it for a tiny profit, I feel almost exhausted and it almost feels like "I just worked for free...". It might sound silly but it takes me some time and effort to get into the next trade. I feel like maybe its the adrenaline that physically needs to leave the bloodstream for my mind to settle, to sit down and plan the next trade. Has anyone experienced something like this? I've missed quite a few good setups because I've needed some " brain reset time" to be comfortable to trade again. I've started reading into the topic of adrenaline during trading. I find the following interesting....."during adrenaline rush blood is flowing TO motor cortex and AWAY from Frontal lobes ( the governor of long-term assessment and planning part of the brain.) Another method I've read about is to simply trading smaller. This method actually works to dial down the emotional highs and lows during trading, but as they say "if you can't sleep at night, you're trading too large, and if you're sleeping fine you're trading too smal" . For me its not the challenge of trading smaller or larger lot sizes (which I did have to work on as well), but more of how much time I've spent in a trade. Try to imagine working for free for a day to simulate the feeling, without being told that you won't get paid today.

So this is a question for Laura and other trading veterans. Do you take a break between your trades to get into the next one? Does it become a more of a "rinse and repeat" process with time as your confidence and consistency grows? I've read about a few methods to work through this such as listening to calm music, some type of meditation and mindfulness exercises. This is probably where a good mentor can make a major impact for the trader to take the next step in their trading career. I've even read about various colors making an impact on your emotional state while you're trading (think of the colors of your chart backgrounds, you might already be doing this consciously or subconsciously).

Thank you for listening and thanks in advance for your constructive feedback.
  • #5,119
  • Jun 23, 2022 2:30am Jun 23, 2022 2:30am
Dax fell away and kept away from breaking channel. Alert now gone off on break of 13000. Now I wait after closing short.
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every Saint has a past. Every Sinner has a Future
  • #5,120
  • Jun 23, 2022 2:31am Jun 23, 2022 2:31am
Quoting EurTrender
Hi Laura, I just wanted to say thanks for the gift of this thread. I find it actually "life changing" ( although I'm cautiously optimistic because I failed in many trading methods before), I'm finally finding myself consistent in my trading using the methods mentioned in this thread. I wanted to bring up a bit of a speedbump I'm facing. When making tiny trading profits after sitting on a trade for a while, I feel a bit of a emotional brain drain. I think I'm dealing with losses even better than tiny profits. In a way it's because my losses are planned...
Go to Lauras journal and look at exercises in discipline. That might help.
every Saint has a past. Every Sinner has a Future
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