Disliked{quote} Great to hear from you Laura. The information in this thread and your journal provides all the building blocks necessary for success.Ignored
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Software tools for LauraT's Roadmap 167 replies
Forex Brokerage Roadmap 4 replies
Best way to read all of someone's posts? 3 replies
Simple way to read chart 11 replies
Disliked{quote} Great to hear from you Laura. The information in this thread and your journal provides all the building blocks necessary for success.Ignored
Disliked{quote} Morning Sir, Not specifically as Turnip and a few others are here also. I do spend a lot of time reviewing other peoples charts to try and understand their trading ideas, if I believe I can help I may submit a comment, as Laura has offered, but her comment re time is precious, so do apply yourselves, is very important. If I can help them I may post some ideas, as I did for you, however the most success I have ever had came from studying thousands of charts, applying what I had learnt, modifying them, reapplying those ideas, writing up...Ignored
Disliked{quote} Hi Ian, A couple of things jump out from your chart. Let's deal with the general first. It looks like a pretty bad time to be seeking an entry. Volatility is super-low and price is churning in a narrow range. To be more specific, your entry isn't ideal (regardless of the low volatility environment) - the most recent close outside of the channel was to the downside. We ideally want to see a close above the channel as that signifies a higher potential for bullish momentum. Once you get that close above the channel you can either enter straight...Ignored
Disliked{quote} Hi Ben - nice to hear from you. Partly health challenges and partly the fact I felt I had said enough already. Unfortunately I can't really maintain my Discord involvement enough to invite people in but who knows what the future holds. My nephew is thriving thanks - he's as tall as a house and far too cool to associate much with meIgnored
Disliked{image} Oil -Entered on channel cross -Was targeting ADR low, but I exited when bars started closing above channelIgnored
Disliked{image} Oil -Entered on channel cross -Was targeting ADR low, but I exited when bars started closing above channelIgnored
Disliked{quote} That was a better outcome mate. I checked the larger time frame an see that it Oil was heading South. I do not understand the importance of ADR values, as I use other tools, ---my oil chart for May 11th had a low of something like 71.??? followed by another low before ranging sideways,as a matter of interest what was you target price ? Ok talk later BenIgnored
Disliked{quote} Nothing wrong with the trade but I want to recommend an exercise. Here we see the 15m view. I've marked when price started closing below the channel, put an X when it closed inside the channel and then marked when it closed above the channel. All of those 15m bars where price closed below the channel create quite a lengthy period of time where it's prime territory for sellers. {image} Now let's keep those markings in place and switch to 1m view. Notice how long you could potentially stay in the trade and how much 'noise' you have to ignore....Ignored
Disliked{quote} Wow, thank you. I think I'm done trading the 1m timeframe for now lol. I'm just not experienced enough. I will absolutely do the 15m exercise. It will keep me from overtrading (one of my issues) I have so much to learn. Thanks again LauraIgnored
Disliked{quote} Knowing you have a lot to learn, and being willing to do that learning, is a great start to the journey. The exercise will simplify your decision tree and will reduce the risk of over-reactions to short-term noise. You will find the point value of the wins and losses will be larger now, so you might want to adjust your size accordingly. The 1m can still have value. It can be a tremendously useful timing tool for example. But treating the 15m as your king will mean those little twists and turns the quicker timeframe takes will become much...Ignored
Disliked{quote} Nothing wrong with the trade but I want to recommend an exercise. Here we see the 15m view. I've marked when price started closing below the channel, put an X when it closed inside the channel and then marked when it closed above the channel. All of those 15m bars where price closed below the channel create quite a lengthy period of time where it's prime territory for sellers. {image} Now let's keep those markings in place and switch to 1m view. Notice how long you could potentially stay in the trade and how much 'noise' you have to ignore....Ignored
Disliked{quote} I've just closed my first trade for the 15m exercise. I think I did it right... {image} This is the 5m chart showing my entry after a channel cross. {image} This is the 15m chart showing bars closing under the channel, and the last bar which closed inside the channel is where I exited. I've got another trade still open on Oil which is in profit as well. So far so good, I think...Ignored
Disliked{quote} Yes! It felt much easier to manage. I didn't have to waffle over when to exit. I also had no emotion, because I knew the guidelines.Ignored
DislikedE/J sedately collecting pips. Pardon my fun emoj'ies Seriously -work at the "Roadmap" and it pays off. {image}Ignored
DislikedWhat a nice surprise for me this morning to see you active here again Laura . All the best KevinIgnored
Disliked{quote} Hi Ian, A couple of things jump out from your chart. Let's deal with the general first. It looks like a pretty bad time to be seeking an entry. Volatility is super-low and price is churning in a narrow range. To be more specific, your entry isn't ideal (regardless of the low volatility environment) - the most recent close outside of the channel was to the downside. We ideally want to see a close above the channel as that signifies a higher potential for bullish momentum. Once you get that close above the channel you can either enter straight...Ignored