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  • #5,601
  • Jun 16, 2023 2:32am Jun 16, 2023 2:32am
Quoting turnip15
{quote} Liqidity Pool lurking near 4 hour level Laura ? {image} {image} {image}
With the May liquidity being cleared out so recently, this latest high will either be them working the highs (slightly raising each high compared to the previous one, in order to shake out more bears and attract fresh bulls), in which case we drop from here - OR - it's the real deal and we're going to the moon. Unfortunately we need more clues than we have at present. But, if I had to take a position, I'd be a seller up here.

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  • #5,602
  • Jun 16, 2023 3:51am Jun 16, 2023 3:51am
Quoting ogboriefor
{quote} Would it have been wrong to take this same trade as per the attached chart {image}
I would say that you could enter there but it would be a slightly aggressive entry as bars were starting to close above the channel which could have been the start of an uptrend.
A more conservative entry would be to wait until you get a closure (or two) back below the channel
BUT I'll defer to Laura for the definitive answer
  • #5,603
  • Jun 16, 2023 3:55am Jun 16, 2023 3:55am
Quoting ianhjulberg
{quote} I would say that you could enter there but it would be a slightly aggressive entry as bars were starting to close above the channel which could have been the start of an uptrend. A more conservative entry would be to wait until you get a closure (or two) back below the channel BUT I'll defer to Laura for the definitive answer
Thanks for the clarity.
  • #5,604
  • Jun 16, 2023 5:09am Jun 16, 2023 5:09am
Quoting LauraT
{quote} Hi - welcome, and thank you for your kind words. Apologies about the first post - it's very out of date now and I really need to spend some time getting it in better shape. I've attached what eventually replaced the SMA band. It combines SMA readings with the composite RSI reading. Good luck with your journey - please feel free to ask anything you are unsure about. {file}
hello Laura do you have a MT5 version
  • #5,605
  • Jun 16, 2023 5:18am Jun 16, 2023 5:18am
Quoting BondHead
{quote} hello Laura do you have a MT5 version
I'm not aware of one having been created, sorry.
  • #5,606
  • Edited 9:00pm Jun 21, 2023 7:32pm | Edited 9:00pm
Hi LauraT. Been reading earnestly and attempting to apply the methodology the past few days and refreshingly different way to what I'm used to trading but all is gd 1 quick ? I saw in your very 1st post that the main Channel is made of EMA8 (using High and Low settings). In the MA settings under MA Method, do we select Exponential or Simple? I was under the impression it's Simple since your Roadmap template file had those 3 MAs in place but upon checking in-depth under MA Method it's selected as Simple. I was a lil' confused because when I see EMA8..., the EMA to me stands for Exponential Moving Average. If it was Simple as selected, then it wd be SMA8 wouldn't it be...? Pls clarify this to erase my confusion, no biggie . Thanks in advance

p/s. it may not matter much whether it was EMA8 or SMA8 I suppose since no one brought this up b4, I reckon... . Cheerio
p/s/s. also, the double channel 55EMA is also exponential and not simple I suppose
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  • #5,607
  • Edited 12:30am Jun 22, 2023 12:20am | Edited 12:30am
[quote=lueny_toons;14470852]Hi LauraT. Been reading earnestly and attempting to apply the methodology the past few days and refreshingly different way to what I'm used to trading but all is gd 1 quick ? I saw in your very 1st post that the main Channel is made of EMA8 (using High and Low settings

HI LT,
A qik reply while the rest of the world wakes up, your chart as displayed appears to have the correct parameters---200 = SMA
Channels = 8 ema's (H n L)
Copied from her page 1 Next we have a channel created by using the High and Low of EMA8. We pay attention to two things with the channel. Where price is in relation to it and where the channel is in relation to SMA200.

of course you can set any value you like especially as you are not a rooky, according to your profile

Use wot works for you.

Ben
  • #5,608
  • Jun 22, 2023 6:35am Jun 22, 2023 6:35am
Quoting btrfx1
Quoting lueny_toons
Hi LauraT. Been reading earnestly and attempting to apply the methodology the past few days and refreshingly different way to what I'm used to trading but all is gd 1 quick ? I saw in your very 1st post that the main Channel is made of EMA8 (using High and Low settings HI LT, A qik reply while the rest of the world wakes up, your chart as displayed appears to have the correct parameters---200 = SMA Channels = 8 ema's (H n L) Copied from her page 1 Next we have a channel created by using the High and Low of EMA8.
...
Hi Ben,
Thanks for the explanation and clarification... I was actually hoping to understand from LauraT whether the EMA8 channel was set as Simple or Exponential? Same goes for the Double Channel method, the 55EMA? Why I asked was because in her template which we downloaded the settings were already set as SMA8 (Simple MA 8, both High and Low). Whereas the identification says EMA8. So, I was wondering does it matter whether it was set as Simple MA or Exponential MA on both the Period 8 of main Channel and Period 55 for the Double Channel setup... Was hoping to understand the reason behind this. Thanks all...
  • #5,609
  • Jun 22, 2023 7:15am Jun 22, 2023 7:15am
Quoting lueny_toons
{quote}{quote} Hi Ben, Thanks for the explanation and clarification... I was actually hoping to understand from LauraT whether the EMA8 channel was set as Simple or Exponential? Same goes for the Double Channel method, the 55EMA? Why I asked was because in her template which we downloaded the settings were already set as SMA8 (Simple MA 8, both High and Low). Whereas the identification says EMA8. So, I was wondering does it matter whether it was set as Simple MA or Exponential MA on both the Period 8 of main Channel and Period 55 for the Double...
In reality there is very little difference between the types of MA.
In the chart shown are Simple MA, Exponential MA and Linear Weighted MA.
All work fine.
I use a LWMA10 channel because for me it fits in with the BBMA system that I have always used.
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  • #5,610
  • Jun 22, 2023 7:20am Jun 22, 2023 7:20am
Quoting lueny_toons
{quote}{quote} Hi Ben, Thanks for the explanation and clarification... I was actually hoping to understand from LauraT whether the EMA8 channel was set as Simple or Exponential? Same goes for the Double Channel method, the 55EMA? Why I asked was because in her template which we downloaded the settings were already set as SMA8 (Simple MA 8, both High and Low). Whereas the identification says EMA8. So, I was wondering does it matter whether it was set as Simple MA or Exponential MA on both the Period 8 of main Channel and Period 55 for the Double...
Channels are all exponential, 200 is simple.

Apologies if downloads suggest otherwise.
  • #5,611
  • Jun 22, 2023 8:37am Jun 22, 2023 8:37am
Quoting LauraT
{quote} Channels are all exponential, 200 is simple. Apologies if downloads suggest otherwise.
ahhh... Ok. Understood LauraT

no woris for the confusion. Small matter. Thanks for the clarification...
  • #5,612
  • Jun 23, 2023 6:20am Jun 23, 2023 6:20am
A couple of channel cross trades from today....

NAS
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...and OIL
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Had a couple of other winners and a couple of losers but these were my two best trades
  • #5,613
  • Jun 26, 2023 1:59am Jun 26, 2023 1:59am
Quoting ianhjulberg
NAS trade from earlier this morning... {image} Not the greatest entry as I didn't catch the initial channel cross Closed when it hit PDH I just signed up for a prop firm challenge with My Forex Funds and will be exclusively trading Roadmap to hopefully earn a funded account. Wish me luck!
Update:

So far I'm up 3% on my prop firm challenge after 2 weeks.

I'm still quite a bit away from the 8% needed to pass the first stage, but happy with my results up to this point!
  • #5,614
  • Jun 26, 2023 2:12am Jun 26, 2023 2:12am
Quoting ianhjulberg
{quote} Update: So far I'm up 3% on my prop firm challenge after 2 weeks. I'm still quite a bit away from the 8% needed to pass the first stage, but happy with my results up to this point!
Very solid start - well done!

Even if you 'only' end up with an extension or a free retry, that month of prop trading combined with your various 20 trade challenges gives you quite an impressive recent history in terms of profitability. Hopefully that is bolstering your confidence and giving you deserved rewards for sticking with the methodology.

But the goal of passing is still in sight - I'm cheering you on!
  • #5,615
  • Jun 26, 2023 2:26am Jun 26, 2023 2:26am
Quoting LauraT
{quote} Very solid start - well done! Even if you 'only' end up with an extension or a free retry, that month of prop trading combined with your various 20 trade challenges gives you quite an impressive recent history in terms of profitability. Hopefully that is bolstering your confidence and giving you deserved rewards for sticking with the methodology. But the goal of passing is still in sight - I'm cheering you on!
Thanks Laura!

Indeed, my confidence/patience/discipline have all certainly increased due to the exercises you had me do, as well as all of the great feedback and advice and encouragement you've given me. Can't thank you enough!
  • #5,616
  • Jun 27, 2023 9:06am Jun 27, 2023 9:06am
Hello peeps. Lovely weather.
Chart of sp500.
Just wanted to show trades on one minute chart compared to taking directional orders from the 5 minute. Less trades ( two) but both profitable whereas hitting every trade on the one minute alone resulted in both wins and losses and maybe more stress?
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every Saint has a past. Every Sinner has a Future
  • #5,617
  • Jun 28, 2023 9:18am Jun 28, 2023 9:18am
Round up of SP500 trades using 5 minute chart for direction and one minute for execution. Seems, so far, to fit in with "Road Map" which is my dominant indicator approach. Have to use the 5 minute to also close the trade but up to you . If you have a pocket full of pips you might use one minute to keep your loot

Feel free to comment, especially if I have messed up or missed something
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every Saint has a past. Every Sinner has a Future
  • #5,618
  • Jun 28, 2023 4:21pm Jun 28, 2023 4:21pm
Quoting turnip15
Round up of SP500 trades using 5 minute chart for direction and one minute for execution. Seems, so far, to fit in with "Road Map" which is my dominant indicator approach. Have to use the 5 minute to also close the trade but up to you . If you have a pocket full of pips you might use one minute to keep your loot Feel free to comment, especially if I have messed up or missed something {image} {image} {image} {image}
You haven't messed up, but just wanted to add a note about occasions like that, where price goes quite far outside the channel in your favour (on the 5m).

These are perfect opportunities for either taking a partial profit, or banking the whole position and seeking a re-entry at a better price. Aside from situations where there is a strong fundamental driver controlling direction, spikes will usually retrace. As the bias remains bullish until a close below, you could afford to seek a re-entry within the channel on the 5m - which will also result in a pretty small loss if you end up being wrong.
  • #5,619
  • Jun 29, 2023 4:34am Jun 29, 2023 4:34am
Quoting LauraT
{quote} You haven't messed up, but just wanted to add a note about occasions like that, where price goes quite far outside the channel in your favour (on the 5m). These are perfect opportunities for either taking a partial profit, or banking the whole position and seeking a re-entry at a better price. Aside from situations where there is a strong fundamental driver controlling direction, spikes will usually retrace. As the bias remains bullish until a close below, you could afford to seek a re-entry within the channel on the 5m - which will also...
And here is todays DAX 5. minute ( two charts) directing ( bias) the one minute execution chart.
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every Saint has a past. Every Sinner has a Future
  • #5,620
  • Jun 29, 2023 5:38am Jun 29, 2023 5:38am
Quoting turnip15
{quote} And here is todays DAX 5. minute ( two charts) directing ( bias) the one minute execution chart. {image} {image} {image}

Its nice that you show charts. Unfortunately I cannot see trades taken on them at all. A few spots, bit of fruit and some support/resistance levels is all I see. ???
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