Roadmap - A Way To Read Markets | Page 283 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Software tools for LauraT's Roadmap 169 replies

Forex Brokerage Roadmap 4 replies

Best way to read all of someone's posts? 3 replies

Simple way to read chart 11 replies

Attachments: Roadmap - A Way To Read Markets
Exit Attachments

Roadmap - A Way To Read Markets

  • #5,641
  • Jul 10, 2023 1:18am Jul 10, 2023 1:18am
Quoting jayawantv
looking at 2 timeframes simultaneously. 5min tf is/was giving sell entries but 30min tf is at support. what is logical - to wait out for 5min tf to align back with 30min? or to stick to 5 min and take trades without adding scope for confusion ? any feedback ? {image}
ofcourse wait for HTF to give signal,then go to small time frame
  • #5,642
  • Jul 10, 2023 3:26am Jul 10, 2023 3:26am
Short and then long Dax. Bit cautious of my entries some may think but it seems to work sometimes
Attached Image (click to enlarge)
Click to Enlarge Name: GER40_2023-07-10_09-25-00_59217.png Size: 146 KB
every Saint has a past. Every Sinner has a Future
  • #5,643
  • Jul 10, 2023 10:02am Jul 10, 2023 10:02am
This is my continuing experiment with using 15 minute and 5 minute ( execution) charts. Seems reasonable so far.
My intention, now, is to use 4 hour and 15 minute ( execution) charts in near future to see if less ( time at charts) is "more" (rewarding) ?
Any opinions?
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY_2023-07-10_15-58-58_f7584.png Size: 178 KB
every Saint has a past. Every Sinner has a Future
  • #5,644
  • Jul 10, 2023 10:19am Jul 10, 2023 10:19am
Quoting turnip15
This is my continuing experiment with using 15 minute and 5 minute ( execution) charts. Seems reasonable so far. My intention, now, is to use 4 hour and 15 minute ( execution) charts in near future to see if less ( time at charts) is "more" (rewarding) ? Any opinions? {image}
There are many similarities between The Roadmap methodolgy and the rockypoint methodology I use. I use the 15 minute and the 5 renko H-A (execution).

One thing I have wrestled with is should I continue to define my signals on the renko, or should I wait, for a fifteen minute candle to close, and THEN trade in the direction of the renko signal, BUT ONLY IF price breaks that extreme of the 15 minute candle.

For example, if I get a short signal on the renko, should I NOT take it immediately, and instead WAIT for the current 15 minute candle to close, and then enter on a short sell stop one tick below the low of the now closed 15 minute candle.

I have struggled with this because I often see that waiting for the 15 minute to also signal would result in fewer losing trades taken.

My comment is just sharing with you that I too have found some magic in the 15 minute candles.
Life itself is a privilege, but to live life to the fullest is a choice
  • #5,645
  • Jul 10, 2023 11:10am Jul 10, 2023 11:10am
Lastly - the SP500 -5 minute direction plus one minute execution.
Reminder that this is a variation on Laura's FOREX 15 minute direction and 5 minute execution.
Comment welcome.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: US500_2023-07-10_17-03-41_73c32.png Size: 144 KB
Click to Enlarge Name: US500_2023-07-10_17-06-45_eefac.png Size: 146 KB
every Saint has a past. Every Sinner has a Future
  • #5,646
  • Jul 10, 2023 12:32pm Jul 10, 2023 12:32pm
A couple of general points on timeframes and multi-timeframe analysis.

Based upon over 20 years of live experience, I'm comfortable concluding that it boils down to personal preference. There is no 'best' way, in my opinion.

Markets are constantly in a process of entering and exiting different phases. This goes far beyond simply ranging and trending. It is therefore reasonable to assume that what works today or this morning might not go so well tonight or tomorrow.

When I first shared Roadmap, I stated that, on balance, I felt it was better to simply focus upon a single timeframe (while also being aware of every other timeframe via the SMA trend bar). This was for the sake of simplicity - to avoid traders who were new to the approach getting tangled up in having to closely observe more than one timeframe. More recently, I gave Ian the specific task of watching two timeframes because I felt it would 'cure' some of the challenges he was facing. This wasn't me altering my general view, nor was I saying multi-timeframe analysis would be superior for everyone (in fact, I'd argue it's counter-productive for many traders).

My own trading style tends to focus more on the shorter timeframes. This is because I'm able to spend a lot of time watching the markets and also because I enjoy the immediacy of the action. However, I also have longer term positions where I might seek an entry on the hourly or 4-hourly while being aware of what's happening on the daily or weekly. I also see the 15m timeframe mentioned a lot lately and I agree it provides very strong middle ground that allows traders to see plenty of different market phases while also being able to time their entries relatively well.

But, returning to my first point, this all leads back to personal preference. There is no golden universal solution - only what works for you and your circumstances.
  • #5,647
  • Jul 10, 2023 3:35pm Jul 10, 2023 3:35pm
Quoting LauraT
A couple of general points on timeframes and multi-timeframe analysis. Based upon over 20 years of live experience, I'm comfortable concluding that it boils down to personal preference. There is no 'best' way, in my opinion. Markets are constantly in a process of entering and exiting different phases. This goes far beyond simply ranging and trending. It is therefore reasonable to assume that what works today or this morning might not go so well tonight or tomorrow. When I first shared Roadmap, I stated that, on balance, I felt it was better to simply...
"There is no golden universal solution - only what works for you and your circumstances."

So True
every Saint has a past. Every Sinner has a Future
  • #5,648
  • Jul 11, 2023 3:41am Jul 11, 2023 3:41am
Okay, last one for a while. Post 5647 worries me that I have put too much of my interpretation of Roadmap variations on Laura's thread. Her original approach, from Post 1 is really all you need but I fear I have been swamping the thread lately with my own ideas. Don't try to slavishly adopt my approach but do, as Laura says, "what works for you."I put in 5 minute levels prior to 7am UK time. Blue lines are existing prev. High/Lows and ADR's marked prior to 7am etc. The only line I put in at 8am is the open and the 50% fibo of 7am to 8am levels. Short triggered and kept me in -my entry bar was not compromised. Essential to remember that basic "Roadmap" is dominant.
New people -stick to basic Roadmap from post one and, many of you, try her journal exercise of recording twenty trades by noting entry and exit of channel.
Lastly, good luck and keep working at the coal face
Attached Image (click to enlarge)
Click to Enlarge Name: GER40_2023-07-11_09-27-36_40d3f.png Size: 147 KB
every Saint has a past. Every Sinner has a Future
  • #5,649
  • Jul 11, 2023 4:35am Jul 11, 2023 4:35am
Quoting LauraT
New Journal post: https://www.forexfactory.com/thread/...2#post13618562
You are really kind , I never had an account on here I am relatively new and trying to make breakthroughs in trading and I appreciate you for going out of your way to help people without anything in return besides the pure satisfaction of helping others.. in this world where people decide to scam rather than teach and learn...

just found these threads and I will be reading through them and hopefully make an understanding of them to become profitable in my own right..
thank you again..
  • #5,650
  • Jul 11, 2023 6:55am Jul 11, 2023 6:55am
Quoting xtrav
{quote} You are really kind , I never had an account on here I am relatively new and trying to make breakthroughs in trading and I appreciate you for going out of your way to help people without anything in return besides the pure satisfaction of helping others.. in this world where people decide to scam rather than teach and learn... just found these threads and I will be reading through them and hopefully make an understanding of them to become profitable in my own right.. thank you again..
Don't forget to read her journal thread as well. Contains a lot of useful information for aspiring traders.

https://www.forexfactory.com/thread/...just-a-journal?
every Saint has a past. Every Sinner has a Future
  • #5,651
  • Jul 11, 2023 8:01am Jul 11, 2023 8:01am
Quoting xtrav
{quote} You are really kind , I never had an account on here I am relatively new and trying to make breakthroughs in trading and I appreciate you for going out of your way to help people without anything in return besides the pure satisfaction of helping others.. in this world where people decide to scam rather than teach and learn... just found these threads and I will be reading through them and hopefully make an understanding of them to become profitable in my own right.. thank you again..
Hi - welcome.

Thank you for taking the time to register and post here. Please feel free to ask if any questions arise.
  • #5,652
  • Jul 11, 2023 8:05am Jul 11, 2023 8:05am
Quoting turnip15
Okay, last one for a while. Post 5647 worries me that I have put too much of my interpretation of Roadmap variations on Laura's thread. Her original approach, from Post 1 is really all you need but I fear I have been swamping the thread lately with my own ideas. Don't try to slavishly adopt my approach but do, as Laura says, "what works for you."I put in 5 minute levels prior to 7am UK time. Blue lines are existing prev. High/Lows and ADR's marked prior to 7am etc. The only line I put in at 8am is the open and the 50% fibo of 7am to 8am levels....
You are always welcome here. I wanted to provide some clarity that dual timeframe approach isn't necessary, but I think the traders who have most success with Roadmap end up heavily adapting elements of it to suit their own needs (just as you have). We're a broad church and I have no issues at all with your trading style - just keep sending me the commission cheques and we'll be fine
  • #5,653
  • Jul 11, 2023 8:25am Jul 11, 2023 8:25am
Quoting LauraT
{quote} You are always welcome here. I wanted to provide some clarity that dual timeframe approach isn't necessary, but I think the traders who have most success with Roadmap end up heavily adapting elements of it to suit their own needs (just as you have). We're a broad church and I have no issues at all with your trading style - just keep sending me the commission cheques and we'll be fine

Just writing another one out now
Attached Image (click to enlarge)
Click to Enlarge Name: cheque.jpeg Size: 6 KB
every Saint has a past. Every Sinner has a Future
  • #5,654
  • Jul 12, 2023 4:12am Jul 12, 2023 4:12am
The 15810 line is a 5 minute level that happened to coincide with a 15 minute level prior to the Frankie and UK open The blue line is a previous day level.
Roadmap triggered a short ( Blue circle) and hit the 15810 twice - a good hint to take your pips and wait.
Dashed and dotted lines are 50% fib and 8am open line that I use.

IMPORTANTLY - you could have stuck to the basics, ignored any of my lines today and made money. ( Read Lura's journal thread about taking twenty trades.)
And at 10am UK time, be a happy bunny and gone out for the day
Attached Image (click to enlarge)
Click to Enlarge Name: GER40_2023-07-12_10-02-54_3e1f4.png Size: 138 KB
every Saint has a past. Every Sinner has a Future
  • #5,655
  • Jul 12, 2023 5:41am Jul 12, 2023 5:41am
Quoting LauraT
{quote} Hi - welcome. Thank you for taking the time to register and post here. Please feel free to ask if any questions arise.
Dear Laura,
I am writing to you because I recently started trading stocks, but now I would like to switch to trading Forex. Would you be willing to help me a bit in which direction to start, and do you have any proven strategies that you could recommend to me? I would be very grateful for your assistance.
Best regards, Milan
  • #5,656
  • Jul 13, 2023 4:36am Jul 13, 2023 4:36am
Enough for the morning
Dax - second loser ( Red Cross) could have been avoided if I was not so greedy and noticed the pin off the 200 ma which was above the ma and open and 50%.
Overall a good morning. One never stops learning, usually the mind bit.
Attached Image (click to enlarge)
Click to Enlarge Name: GER40_2023-07-13_10-33-14_aff46.png Size: 159 KB
every Saint has a past. Every Sinner has a Future
  • #5,657
  • Jul 13, 2023 4:36am Jul 13, 2023 4:36am
Quoting hmilan
{quote} Dear Laura, I am writing to you because I recently started trading stocks, but now I would like to switch to trading Forex. Would you be willing to help me a bit in which direction to start, and do you have any proven strategies that you could recommend to me? I would be very grateful for your assistance. Best regards, Milan
Read from Post one and read her journal thread
every Saint has a past. Every Sinner has a Future
  • #5,658
  • Jul 13, 2023 11:30am Jul 13, 2023 11:30am
Quoting turnip15
{quote} Read from Post one and read her journal thread
Thank you very mutch!
  • #5,659
  • Jul 14, 2023 4:25am Jul 14, 2023 4:25am
Reasonable Dax morning. Note loser long and short is when I draw lines and wait. Viva la Roadmap.
Have a good weekend all.
Attached Image (click to enlarge)
Click to Enlarge Name: GER40_2023-07-14_10-20-14_ab5ec.png Size: 160 KB
every Saint has a past. Every Sinner has a Future
  • #5,660
  • Jul 15, 2023 7:54am Jul 15, 2023 7:54am
Quoting LauraT
{quote} Hi - welcome. Thank you for taking the time to register and post here. Please feel free to ask if any questions arise.
Alot of value here...gonna take the time to study your method and practice it..
if there is ever space in your private group please let me know ,I would really appreciate it!

Hope you have a great weekend.
0 traders viewing now