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Roadmap - A Way To Read Markets

  • #5,741
  • Oct 18, 2023 1:53pm Oct 18, 2023 1:53pm
Quoting hmilan
Hello everyone! Today I had a trade on EURUSD during the London session. I observed a channel failure on the chart, and then the price retraced to the open line before closing within the next candle's channel, as the lower timeframes is green, and RSI2/9 was above 59. However, the trade ended up in a loss. Do you think I made a mistake? {image} {image}
Hey Hmilan. I had three losing trades on EU today, one was the chanel failure. Its market, sometimes you are right, sometimes not.
  • #5,742
  • Oct 18, 2023 9:47pm Oct 18, 2023 9:47pm
Quoting Chrobakx
{quote} Hey Hmilan. I had three losing trades on EU today, one was the chanel failure. Its market, sometimes you are right, sometimes not.
Thank you for your response! I'm relieved; I thought I did something wrong, but of course, I understand that the market doesn't always go as expected. All the best!
  • #5,743
  • Oct 23, 2023 6:58am Oct 23, 2023 6:58am
Good short and long from2:30pm UK time ( US open) - can you see them?
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every Saint has a past. Every Sinner has a Future
  • #5,744
  • Oct 23, 2023 12:08pm Oct 23, 2023 12:08pm
Hi everyone! Due to my work, I don't have much time to monitor the charts as I'm working during the EU session, but I do find some time during my job to check. Therefore, I can't thoroughly analyze every currency pair. Could you possibly offer advice on which pairs are worth watching? (I'm thinking of just a few, maybe 4-6.) Or perhaps, should I select different pairs every day based on some criteria? Thank you in advance!
  • #5,745
  • Oct 23, 2023 12:16pm Oct 23, 2023 12:16pm
Quoting hmilan
Hi everyone! Due to my work, I don't have much time to monitor the charts as I'm working during the EU session, but I do find some time during my job to check. Therefore, I can't thoroughly analyze every currency pair. Could you possibly offer advice on which pairs are worth watching? (I'm thinking of just a few, maybe 4-6.) Or perhaps, should I select different pairs every day based on some criteria? Thank you in advance!
Hey Hmilan
I'm in the similar situation, but I can trade only three days a week. I started with 22 pairs and now I reduced them to 4 EU,GU,UC and EJ.
This way I can monitor them simultaneously, there is still lots of signals every day. I can watch pairs and learn their behaviour.

You want most volatile pairs during your screen time.
  • #5,746
  • Oct 24, 2023 11:58am Oct 24, 2023 11:58am
Quoting Chrobakx
{quote} Hey Hmilan I'm in the similar situation, but I can trade only three days a week. I started with 22 pairs and now I reduced them to 4 EU,GU,UC and EJ. This way I can monitor them simultaneously, there is still lots of signals every day. I can watch pairs and learn their behaviour. You want most volatile pairs during your screen time.
Great, thank you very much, I'll try these!
  • #5,747
  • Edited 12:46pm Oct 24, 2023 12:33pm | Edited 12:46pm
Quoting hmilan
Hi everyone! Due to my work, I don't have much time to monitor the charts as I'm working during the EU session, but I do find some time during my job to check. Therefore, I can't thoroughly analyze every currency pair. Could you possibly offer advice on which pairs are worth watching? (I'm thinking of just a few, maybe 4-6.) Or perhaps, should I select different pairs every day based on some criteria? Thank you in advance!
Many professionals focus solely on just one or two currency pairs/assets and master them in every way possible; 'jack of all trades, master of none'
Seeking Fair Value
  • #5,748
  • Oct 26, 2023 1:03am Oct 26, 2023 1:03am
Good start to dax morning - my 8am to 10am session unfolds
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every Saint has a past. Every Sinner has a Future
  • #5,749
  • Oct 26, 2023 2:37am Oct 26, 2023 2:37am
At 10am finish. Notice that longs were poor trades ( me ignoring 5 minute trend maybe)
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every Saint has a past. Every Sinner has a Future
  • #5,750
  • Oct 26, 2023 2:42am Oct 26, 2023 2:42am
Quoting turnip15
At 10am finish. Notice that longs were poor trades ( me ignoring 5 minute trend maybe) {image} {image}
I recently "discovered" this thread & still trying to wrap my head around it ::: I see you're very active here, If I may ask what's the win & RR ratio for this "strategy" ? :::
THX for posting your markup :::
  • #5,751
  • Oct 26, 2023 5:40am Oct 26, 2023 5:40am
Quoting Laudes
{quote} I recently "discovered" this thread & still trying to wrap my head around it ::: I see you're very active here, If I may ask what's the win & RR ratio for this "strategy" ? ::: THX for posting your markup :::
Everyone has a different ratio. Think of the"Turtles."
Start from first post and read all Laura's posts AND her journal thread. Simple strategy. The hard part is yourself.
every Saint has a past. Every Sinner has a Future
  • #5,752
  • Oct 27, 2023 2:00am Oct 27, 2023 2:00am
Dax summary of trades this morning. A more trendy day.
Have a good week end all of you.
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every Saint has a past. Every Sinner has a Future
  • #5,753
  • Oct 28, 2023 6:13am Oct 28, 2023 6:13am
Weekend exercise for you all:
Draw a potato
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every Saint has a past. Every Sinner has a Future
  • #5,754
  • Oct 28, 2023 6:16am Oct 28, 2023 6:16am
Quoting turnip15
Weekend exercise for you all: Draw a potato {image}
  • #5,755
  • Oct 29, 2023 1:58am Oct 29, 2023 1:58am
I have just finished reading the postings and the Journal, it took me a few days to finish them. Your teaching is precise so that anyone with secondary education can read and understand. I have enjoyed it very much. I am concerned about your health and wonder how you are coping. In today's climate, many will scam in a whistle to the uninitiated especially those who just started in Fx trading. You are a gem and would love you to continue teaching and guiding new traders who are entering this industry. Although I thought I had learned everything to learn about Fx trading, I have learned a lot from you in the past few days. Thank you, may God bless you and be with you always and protect you.
  • #5,756
  • Oct 30, 2023 12:07pm Oct 30, 2023 12:07pm
Interesting strategy Laura. Still reading the thread and journal trying on demo. UJ up channel broke the lower channel line and retested that level X 2 (also ADR high) before crashing down. Got on the short and now at BE.
EDIT: Closed this trade for +56 pips
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  • #5,757
  • Oct 31, 2023 3:07am Oct 31, 2023 3:07am
Good morning.

6 trades this morning, 3 losses, 1 + 4 pips,and two for +17 and +18 pips. Overall I'm in plus this morning
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  • #5,758
  • Edited 3:39am Oct 31, 2023 3:18am | Edited 3:39am
Levels - ADR High, Tokyo High, Heading into big four hour level
Edit: Forgot to add UK open is 8am when I am looking at chart - thus all levels are drawn Pre- UK open.
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every Saint has a past. Every Sinner has a Future
  • #5,759
  • Oct 31, 2023 6:18am Oct 31, 2023 6:18am
Couple of trades today on GU for +56pips.
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  • #5,760
  • Oct 31, 2023 6:30am Oct 31, 2023 6:30am
Had two more trades, one loss on GU, I didn't check the news calendar, second trade UC( entered after news) just closed. Good day for trading, could be better though.
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