My Roadmap Method Journal

Starting this thread to journal my experience with Roadmap Method. It's July 4th, market is very thin so not trading today.
At this point I doubled my account in two weeks from June 15-20. Trading almost every day. Best trades so far are continuation trades and breaking structures trades in the direction of trend. Keep at it.

Short term improvements to implement:
Use less bullets. Stick to 6 max. Keep position between 2 -3 lots. Pain tolerance feels like 2.5 is the best, not to little, not too much.
TRY HARD to leave 1 or 2 bullets out of 6 funning further so, close 4 bullets individually instead of clicking on close all. The running bullets MUST be set to BE or a little better than BE. Don't try to get into other markets, 4 pairs is enough for now.
Focus on AAA setups! Just a matter of waiting, don't feel the need to get into an iffy trade, even with a small size.
Get into habit of cleaning up charts after a trading session is over.
Try to record amount of time trading for every trading session.
Post trading session thoughts for every trading session.
Stick to trading one pair at a time. There is no need to trade more.

To Do Soon:
Find a better trade manager - DONE, got a 3 month rental on an incredible trade manager, has every option that I need.
Required:
SL to BE, SL + 1, Close all, Delete Orders, Set Auto SL and TP, Buy and Sell specific - multiple trade sizes.
Optional: Close half, Trail, Increase TP.
Make sure every trading chart has all the required indicators - DONE

Plan for tomorrow.
Use 5 bullets only, 1% each. Lot calculation is automatic for each.

Rough day, take a break. Start fresh tomorrow. Stick to AAA setups. Today's mistake was trading too large. Profit targets are too far away, on a ranging day take smaller targets.

Today's results:
Made up 27% of what was lost yesterday. Trading significantly smaller, being more careful. Today's session was not easy to trade. Had more patience today than usual riding the profits.

Feelings.
Trust(ing) in the method, everything is still working as intended. Don't feel guilty about not trading more good entries, full time job is an important responsibility that can't be avoided. This morning it was a little hesitant to start trading, these are just aftershocks of a very bad day on July 6th, work through this.

Plan.
Work on getting myself back to the equity pre July 6th, one piece at a time, no rush. Once I get there, it will be a major accomplishment and will show that the process still works just fine.
STICK TO AAA CLEAR ENTRIES, there are plenty. Be patient, be a sniper.
Stick to same risk% per trade until I make up what was lost on July 6th and then make another 50% of acct.

Today's lesson learned.
When the day feels clearly rangy (Level gets hit 4-5 times repeatedly) feel free to take small profits and re-load again in the correct direction.

Important Review.
Breaks of structures COMBINED with important levels is GOLDEN. Stick to this ONLY! This will save a lot of extra trades, the trade will come...wait for it.

Took a long break for over a month. Working on discipline, only getting into best trades. Not going to chase trades, there are plenty even with 4 pairs that I'm trading.
Upped my account, don't need to have a lot of trades. Trying to use less partials/bullets on every trade. Try to cut down to 5-6 parts instead of 12+, easier to manage.

Today's results:
3 trades.
2 lost
1 won
Result + 4.22% for the day.
Trades were done relatively late, done around 11:15am. Not trading any more, late in the day.

Feelings
Getting into trades slightly early. Work harder on staying in good trades. Took 50% of the swing, could have taken much more, but overall profit was good.
More comfortable with larger account, larger gains and losses.

Plan
ONLY ONLY ONLY take AAA trades, there is no need to overtrade.
AAA1 - Structure Break - Breaking structures on a COMPLETELY RED OR GREEN RSI day in the direction of RSI. If a large range is already made....WAIT WAIT WAIT for a countertrend structure to build and then enter the BREAK OF STRUCTURE ideally with combo bounces. STAY in the trade until next support/resistance on 5m.

AAA2 - False Breakout of 200ema + RSI ALL ONE COLOR (OR 1M just blinking in/out) + combo bounce of level

AAA3 - Bounce of 200ema + RSI ALL ONE COLOR + 8ema channel bounce off 200ema + combo bounce of level

AA4 - Far from 200EMA bounce off level + RSI ALL ONE COLOR + breaking structure. Remember, structure might be smaller/shorter. Use smaller risk/tp.

B5 - Range hasn't formed yet (and it will). FIRST 3 rsi ONE COLOR (or at least 5 and 15 min) Go in direction of 5 and 15min RSI + bounce combo of levels/trendlines. Use smallest risk/tp. Perhaps avoid completely unless ALL RSI same color. TP is really small, super scalping, don't expect large targets.

Today's Lesson Learned.

1. In a AAA trade, try to set target at next Support/Demand level on the 5m. Don't move SL so tight, but keep going to BE as soon as +5pips.
2. Stick to trading one pair at a time. All four pairs are correlated, no need to get into multiple.

Long Term thought.
Method works. I make good entries. Risk is always tight, this is an edge. My entries are very good on AAA trades at important levels and ALWAYS with the trend, this is an edge. 1 good trade covers 3-4 bad small trades. 2 good trades in a row rockets my equity up and potentially increases trade size (eventually). 5-6 good trades will potentially double my account. 1:3 or 1:4 ratio works extremely well on AAA trades. Non AAA trades are usually 1:1 or 1:1.5.

Screenshot
Today's good trade.
Good - Entry, slightly early, but used breaking structure as confirmation.
Bad - could have stayed in it much longer, only got 50% of the move, but still got good profit.

Today's Results.
3 Trades.
1 loss, -1%. Got in by mistake, trading against RSI. Got out with a tiny loss. Lesson learned.
1 win + 5.5% Quick early afternoon 7 pip scalp. Too late in the day on a Friday afternoon to expect anything more. Could have taken a few more pips but decided not to be greedy and % gain was enough.
1 win + 5% Super quick afternoon scalp. Somewhat risky, but good exit considering very tight range between 1m support and resistance. Trading in the direction of the RSI/Trend.
Result 9.5% for the day, good day.

Today's thoughts.
Good job mostly staying out of the markets, levels look over extended.
Good job re-adjusting trading to less bullets (4-5 now instead of 10-12)
Good job trading structure breaks. Bread and butter.
OK job sticking to trend trades, DO NOT trade counter trend, there are enough trend trades, no need to be aggressive.
Good notes keeping risk notes in Excel journal.

Plan
Will be on holiday for a week, no trading. Review notes and re-read Laura's journal again. Review all the AAA trade setups.
In the future write down trade direction in the excel sheet for every pair (based on RSI) on each trading day.
Consider finding an automated trend line drawing indicator, not sure if it will be better than drawing trendlines myself. Perhaps an automated channel drawing indicator as well.
Consider staying in the trade until a candle closes outside the 8ema channel in the wrong direction. I think Laura mentioned this.
Consider addling "Liquidity trade" as another AAA trade type, need to do more research.

Laura's pearl of the day
........So, we now have three potential motives and two potential outcomes. It's either a liquidity grab (and price reverses) or it's a trap (and price reverses) or it's a genuine breakout (and price continues). Thinking in those terms might also be helpful in understanding why more breakouts 'fail' than succeed.
I need to digest this and understand how to relate this to my trading, then again I think it relates to my trading false breakouts.


Screenshot 1
Good - RSI ALL RED - 2ND bounce of resistance - bounce off 200EMA - structure break. AAA1 type trade. Only half of daily range done. Very tight SL.
Bad - levels are overextended, extreme low. Trading on a Friday afternoon, not a lot of room to run. Any other day would have let the trade run further. Still could have gotten a few more pips, decided to get out a little early.

Screenshot 2
Good - RSI ALL RED - 2nd bounce of resistance (very similar to 1st screenshot trade). Signal was breaking structures, added more on 2nd bounce of resistance (was very close to stopping out, SL was very tight). Was NOT a bounce off 200MA (it was actually on the wrong side of it, so less perfect but ok). Very fast exit, but pretty good because trading in a very tight range between Sup/Res, got most of the move. Market then reversed and invalidated the original resistance on the 3rd bounce of resistance.
Bad - VERY VERY tight room for the trade to run between SUP/RES. Late afternoon, on a Friday. That's 3 negative factors making this a very risky/aggressive trade. NOT a AAA trade.

Today's Results. Very Strong comeback.
3 Trades.
1 loss, -8.2%. Trading against the trend, longer time frames RSI Long, 1m + 15m RSI was down. Trading structures down, but long term was wrong.
1 BE. Stop and reverse trade, all RSI now green. Stopped out at BE, was probably too tight but safe. Some whipsaw in market being afternoon.

1 win. +27.78% Same direction as the BE trade, got back in. All RSI long except 1m + support + structures. My biggest win so far, %wise, equity wise and trade size. This was a very complex trade. After digesting the trade completely this is:
RSI in one direction + 1m RSI working as resistance turning into support + new support formed + breaking yesterday's high (resistance turned into support).
There were multiple structures formed that broke (3 or 4) but one held and I happened to (finally ) on the right side.
Overall 19.58% for the day.

Today's thoughts.
Not AAA trades, especially first one against the main trend. Digesting the winning trade, and good profits were made BUT if I stick with my original targets (FOR ONCE!) I could have more than doubled the profit. Seems like when I get the direction right my targets are spot on .....95% of the time? Really REALLY hard letting profits run further. Even harder than finding good trades. Then again, I could be happy with many good sized profits without having huge runners under my belt....to think about. Idea....after reaching a certain account equity amount make it a plan to let the trade to the original TP and NOT close early. TBD...
Certainly some luck was on my side today (or getting on the right side of it with enough ammunition)
Also profits MUST MUST MUST be larger than the stop loss, even if I take the profits early.
Also...1m 200ema will at least work as a short term barrier even if all other RSI time periods are pointing green.

The good
Was very comfortable trading larger today. But should probably not trade larger than did today until equity doubles (I'm certainly on my way there).
Good job stop and reverse...and quickly. This is a new milestone.
Good job re-loading the trade after BE.

The Bad
Trades were somewhat risky, this is less than ideal especially when account gets larger. Protecting capital is very very important.
Trades were a bit large but still within risk parameters.
Still too many parts to a trade, slightly challenging to manage but ok. Maybe I shouldn't fight it and just accept that this is how I trade....because it works.
Still not sticking to original price targets, let letting trades run too long. But since this is scalping this is OK....but if improve, trading will improve A LOT.

Plan.
Try to reach 75% of initial target amount.
OR
Take half profits and let the rest run to 75% or 100%.

Screenshot
Potential trade. Could have taken a trade here. All RSI red, except 1m. Could have entered on 1st bounce of resistance for a very tight SL or when price dipped under 200SMA. Could have been good quick scalp, but I traded enough today and not advisable trading this late in the afternoon. This would be false brake out of 200SMA + RSI all in one direction type AAA trade.